Sunday, April 25, 2010

Obama to the Financial Rescue

How did we get into this situation?  We are once again in the midst of impending doom.  Without immediate financial reform, we face another near-collapse of the economy.  Who will save us from this  horrible fate?

Look!  Up in the sky!  The Campaigner-in-Chief is here to save us from ourselves, this time in a headlong push for government "reform" of the private financial sector.  Obama tells us that these greedy bastards were busy raking in huge profits from the financial ruin of average, hard-working Americans, and we cannot allow this to happen ever again.

Thank you, Obama.  Of course, in order to discover how to prevent this from ever reoccurring, we need an understanding of how it happened.  Obama would have everyone believe that it was fat cat Wall Street execs who went all-in with our life savings.  Call me crazy, but I tend to disagree with this convenient assessment.

What Obama refuses to address is that, at the core of the entire financial meltdown, was our government, hard at work interfering in things as usual.  Perhaps I speak too harshly, for perhaps they actually think their constant intervention is helping people.  It would be a relief if this were the case, for then we would understand the federal government as merely incompetent, rather than corrupt.  Unfortunately, recent polls show that only one in four people trust the federal government.

So who is to blame for inflating the sub-prime bubble?  Where did all those regulations come from to issue more and riskier loans?  Where were the regulators who were supposed to keep an eye on our most prolific mortgage lenders, Fannie and Freddie?

There were investigations into rumors of impropriety and excessive risk by Fannie and Freddie, but congressional Dems defended the lending agencies tooth and nail.  "Nothing wrong here," shouted Barney Frank, or "Countrywide" Chris Dodd, or the champion of hedge funds, Chuck Schumer.  Of course, we found out the hard way that there was very much wrong.

I wonder why Obama won't support a deeper look into this, or comply with the Freedom of Information Act to open the records to the public?  I hope it doesn't have anything to do with the amount of campaign contributions Obama accepted from these two lending giants.

I cannot understand why any true "financial reform" legislation would fail to address the root cause of our financial meltdown.  The proposed bill is completely devoid of  any mention of Fannie and Freddie.

The idea of establishing an agency inside the Fed, which basically answers to no one and having the power of life or death over financial firms as is deems appropriate, does not seem like the type of "reform" we need.  It sounds more like the fox guarding the hen house to me.

There are obviously some points in the proposed legislation that seem to need debate and discussion.  But with claims of a second financial meltdown hanging over our heads, Obama assures us that, although not perfect, we need to something, and we need to do it now.  Right now, immediately, before the anti-Wall Street sentiment he stirs up has any chance to fade.

This is becoming a predictable pattern with the Obama administration.  Every situation is massaged into some dire situation.  It is always "the worst (insert theme here) crisis in history!"  We are made to believe that, without some type of massive and immediate government intervention, our world will surely come crashing down upon us.

We should all remember his first crisis, a crisis of such magnitude that, if action wasn't taken immediately, we would see unemployment rise to 8% and a total collapse of our economy.  Yes, the $800B Obama Stimulus bill was designed to curtail the "worst economic situation since the Great Depression."

Most suspected his claims were less than truthful, yet that bill was quickly passed, nearly a year and a half ago.  Is anyone really surprised that we have seen none of the 4 million jobs Obama swore this bill would create?

Meanwhile, unemployment rate has steadily risen to nearly 10%, expected by most to remain high for "an extended period", and there are talks of a second, even bigger "stimulus bill".  This is the way Washington's feeble mind works.  They don't see the concept of massive spending as wrong, they just see it as not massive enough.  Most economists now admit that FDR's spending did not end the Great Depression, but actually extended it by several years.  Most politicians, however, will not.

We have seen the results of Obama's "hurry up and reform something" strategy.  All the lies about Obamacare are now coming to light as we are finding out what most already knew concerning Obama's hasty, ill-conceived, unpopular legislation forced down the throats.

We cannot allow this charlatan to force yet another bad bill through Congress simply on his word of immediate crisis and claim of impending financial doom.  We are told one day that the recovery is in full swing, yet made to believe the sky is falling the next.  What are we supposed to believe?

As with Obamacare, this administration knows full well that the proposed legislation will never pass if the time is taken to examine its language and comprehend its future implications.  Although there is no doubt that regulation and oversight are sorely lacking in the derivatives market, why must we be constantly goaded into rushing headlong into doing something stupid?

Friday, April 23, 2010

If It's Tea Party, It's Got To Be Racist

The Tea Party  movement has gotten under the skin of the progressives, and it would seem the liberal media clowns can't scream "racist" loud or fast enough. 

Is a black man who lies any more dishonest than a white man who lies?  Or is it possible to determine who is telling the truth by his color?  I suppose the point here is that, if you're white, do you believe the idiot Bush when he lies.  Similarly, if you're black, do you believe the Marxist Obama when he lies?

The ignorant people of this country need to stop reducing everything to matters of race. They should start opening their eyes to the fact that all politicians, regardless of race or party affiliation, are devoid of moral character or conscience. They must lie, or at least hide the truth, for it is their nature.

We are all very afraid, or at least should be, of where this country is headed in the face of the federal government's increasing power and the massive growth of our debt. Enter the Tea Party, a group of concerned Americans who saw fit to organize and protest this disturbing trend.

With the election of Obama, the Left has been handed the perfect defense against the truth the behind the Tea Party Movement. A black man in the White House allows the issue of race to quiet any dissenting opinion of policy. The race card trumps all logic and reason, as it plays on emotion. It obscures the fact that the opposition is based on policy, not pigment.

As often the case with ignorant mobs, both sides reach for their torches and pitchforks to attack the other. The more the media plays up to the issues of race, the more tension and anger is spread among both sides.

All the while our "elected representatives" sit back and smile, pleased with their work of dividing America, diverting the mob's anger inward among itself. In the end, they win and America suffers.

Regardless of how we got here, the best solution is to reduce spending and reduce the size and power of Washington. My question is why are the Tea Party members the only ones who seem to understand this?  Perhaps the other side is still too busy hating Bush to see clearly.

Obama's Big Wall Street Adventure

When I read a propaganda piece such as this, gushing praise for the hard work Obama is doing, I can't help but feel a bit sickened.

First, however, I must give credit where credit is due.  Usurping the freedom and liberty of Americans progressively, piece by piece, must truly be hard work.

I would suggest a minor revision when stating Obama's role in financial reform might produce a more acceptable accounting of the truth:

"Obama's role consists of two parts: stirring up public outrage over the failure of government regulators to address the sub-prime mortgage problem which gave Wall Street the collateral which they bundled and traded in an unregulated derivative market, and to bribe or bully members of congress behind closed doors into supporting yet another huge grab by the federal government of what used to be known as the private sector."

The koolaid drinkers cheer wildly in support while the rational thinkers, who see this latest power grab for what it truly is, cry out in opposition. As with the Obamacare debacle, both sides want some type of reform of the financial industry, but the disagreement lies in how to accomplish this.  And, as with the Obamacare debacle, there is no way but Obama's way.

I marvel at the blatant hypocrisy Obama exhibits as he implies some involvement in underhanded dealings by McConnell's meetings with Wall Street CEOs.  Amazingly, Obama met with insurance, pharmaceutical, and health industry leaders on several occasions prior to and during his headlong push for Obamacare.

This behavior is typical of all Leftists, who use such tactics to denigrate their opponents for doing the same thing they engage in.  Of course, we all know that Obama was meeting secretly with these people to find the best way to help all Americans, while McConnell's nefarious purpose was to deny St. Obama yet another opportunity to help all Americans.  What, you don't believe that?  Of course you don't; no sane person would.

The standard Democrat response to everything is bigger government, more control, more bureaucracy, more cost, more waste, and more fraud.  And, when taxpayers show concern over more spending, the Democrats simply go on the offensive by charging any GOP opposition as childish, obstructive political gamesmanship from the "Party of No."

In front of hand-picked crowds of supporters, he continues his perpetual campaign and presents his false choices of either accepting his massive growth of government or "doing nothing".  Of supporting his version of "financial reform" or accepting a runaway Wall Street.

I have yet to hear from Team Obama anything addressing the government policies which set the stage for our financial near-collapse.  What about the push to increase sub-prime mortgages?  Who is going to investigate the role of Fannie and Freddie?  What about Dodd, Frank, and all the Dems who fought tooth and nail denying any improprieties?

Obama is more than anxious to pass everything he can before the midterm elections.  This mad rush to increase federal control must be met head on.  I think we can do a lot better than allow those responsible for our crisis to re-write the rules.  McConnell and the Republicans feel this way as well.

It is not a coincidence that most of the big investment firms on Wall Street are actually in favor of this new legislation.  It permanently establishes a "Too Big To Fail" mentality, allowing the Treasury to act independent of Congress to do whatever it wants to with any financial company it feels may be a systemic risk.

One proposed solution would be to reinstate and strengthen the power of the existing regulatory agencies.  Lord knows, we have enough in place to do the job.  This would certainly help reduce the logjam that is the federal government.  The problem with big government is big government.  One hand never knows what the other is doing.  It is a model of inefficiency, yet it continues to grow.

But the grand ego of Obama does not allow small, quick, and targeted solutions. With Obama, everything must be (all together now): "transparent, accountable, and unprecedented in scope."  Funny, but he never mentions anything about getting it right.

A Good Time to be in the Car Business

Will we ever see US automakers regain their status as King of the Car Makers?  Will they be able to shake the stigma of begging for hand-outs from Uncle Sam, or the staggering weight of bloated union contracts?

Looking in today's paper, there was a full-page ad from GM, touting their repayment of billions of taxpayer dollars.  Plus interest!  Damn!

I received this nice email yesterday, a warm and friendly reminder that GM has repaid its debt to the government, in full, and five years ahead of schedule:

Yesterday's AP post reveals a bit more than GM or Washington would like folks to know.  GM is still losing money, although not nearly as fast as they were.  And they are still 61% owned by the government (US and Canada) to the tune of a $45.3B investment by taxpayers.

Of course, the White House and the Treasury took no time to pat themselves on the back, beaming with pride at their success.  Joe Biden showered Obama with praise for his tough stance on the highly unpopular auto bailouts.  Tim Geithner was quick to point out how encouraging it was to see GM on a "strong path towards viability."

Yes, it looks like this is a good time to be in the car business - especially with the government propaganda machine running full throttle.  Taken at face value, it would seem that the economic recovery Washington claims we are now experiencing is indeed here.

Imagine my surprise when, the very next day, this newsworthy tidbit was revealed:  GM used Treasury funds to repay its loan.  More specifically, the Treasury put a tidy sum of the TARP funds into an escrow for just such an occasion.

Somebody has some 'splainin to do.  Ever wonder why the accountants can't actually account for all of the TARP money?  Might there be any more of these little "rainy day" funds lying around?  It will be interesting to see how Obama and company tries to pin this one on Bush.

It seems this entire debacle was just a cheap publicity stunt, another Team Obama dog and pony show.  Positive signs of a sound economy would certainly go a long way in helping Democrats in the 2010 elections.

It's a real shame that, without any real recovery to show for his efforts, Obama has to create the illusion of one.  If he would just put the same effort into helping our country recover, rather than to radically re-make it, the majority of the country might not distrust and despise him nearly as much.

Friday, April 16, 2010

Financial Reform?

More like a recipe for disaster.  Hey, I just had a really bad idea:  Let’s allow the greedy, corruptocrats responsible for our current economic situation to propose “the solution”.

Both Frank’s House bill and Dodd’s Senate bill have a huge slush fund built in ($150B/$50B) for exactly the bailouts that Obama claims won’t be happening anymore. Go figure.

Let’s not forget the new regulatory powers proposed by this new financial regulation which allows Congress (or an agent thereof) to determine which companies will survive and which will be “assimilated”. Of course, Congress already has their list of financial institutions which will never be allowed to fail, and have proved it with their bailouts to date.

It’s not that we don’t trust you, Obama. OK, so maybe we don’t trust you. But you must admit, it is not without good reason. Most everyone, except for your most die-hard, kookaid-drinking Obamanites, are still waiting to see those 3.5 million jobs your big stimulus bill promised.

Most now understand that Obama’s message of “Hope and Change” actually meant we should all hope that something might change. How much more damage can we absorb before the mid term elections? We need to send all these crooks packing. Come on, November! Daddy needs a (lot more than a) new pair of shoes.

Thanks - For Nothing!

Happy Tax Day!  How could Obama be confused about the tax protests happening around the country on April 15th?  For a smart guy, he is sure seems to be one dumb son-of-a-bitch.

Apparently, borrowing trillions of dollars and piling up massive new debt is always a good thing, since it “…puts hard-earned money back into the pockets of everyday people.”  Well, gee-whiz, Mr. Obama, thanks a lot.  One day you will get the credit you deserve.

Why wasn't this approach just as great when Bush did it?  I can never understand why anything claimed as "evil" when done under the Bush administration becomes the righteous justification for Obama to do the same.  I will just have to learn to accept the inherent hypocrisy of libera

Perhaps Bush didn't offer a host of lies and false claims of how the tax cuts would "pay for themselves" and are "deficit neutral" as did our new Liar-in-Chief.  The saddest part is that a great majority of our country cannot see Obama for what he is:  just another crooked politician.  Worse, he is an inexperienced idealist with a far left agenda of wealth redistribution.

Obama offers a carrot, a bribe, a gift from our kind and benevolent Leader. And all he asks in return is that we accept his guidance and leadership. That we bow before his omnipotence.  That we above all do not question his word or his work, which would, of course, reveal the deep hatred toward any people of color.

I never realized how many things wrong with this planet can be attributed to racism.  If you listen to anyone connected with the Obama administration or the liberal mainstream media, you will quickly and constantly be reminded of this indisputable "fact".

Take the 30 pieces of silver which the One has generously bestowed upon his followers. Do not worry about the huge increases in taxes that must follow. The harmful effects of Obama’s massive spending will not be even have began to be fully realized until Obama has long retired, exactly as planned.

Paying for it will be someone else’s problem. For now, it’s still “all Bush’s fault”. But don’t worry, they will just pretend they can extract more taxes from the “evil rich”. Everybody hates the "evil rich".  That lie has always worked in the past, so why change?

So, for now, sell your soul now for that tiny check, and let your children, and theirs, inherit our burden of debt.  Thanks and praise to Obama, the great giver-backer of the taxes that he took from us.

Don't worry about the children.  We must remain realistic.  For all we know, our children might never amount to anything.  Why even give them the chance?  We want - no, we need - that new car, that plasma TV, and we need it today.  Let the kids get their own.  Shit, they just got "free" health care.  What else do they want from us?

Welcome to Obama’s new America.  Amnesty lines now forming soon.

Sunday, April 4, 2010

Jobless Recovery? What "Recovery"?

The Obama administration speaks out both sides of its mouth and, quite frankly, most people are sick of it. Perhaps this explains his falling approval ratings.

On one hand, Obama is quick to take credit for his failed Stimulus Bill at every opportunity. When the numbers are positive, its "look what I did!" And, when the numbers are negative, its "look what Bush did!"

And so Obama continues his double-speaking perpetual campaign mode. Taking credit for "turning the economy around", while simultaneously claiming unemployment rates will continue to "remain unacceptably high for the remainder of the year".

While it it accepted that consumer spending is responsible for 70% of our economy, it seems unlikely that sustained levels of spending can continue with such a high unemployment rate.

It is time to stop patting yourself on the back, Obama. Your smug arrogance over the passage of your mandated insurance bill is remarkable, considering the despicable means you had to resort to.

Businesses are afraid to grow or hire new employees, for they can guess that you have more tricks up your sleeve in order to redistribute the wealth. Anyone of reasonable intelligence understands that taxes will skyrocket in order to pay for this massive welfare state you wish to create. Until your spending spree has stopped, and the real costs become apparent, there will be no job growth and our economy quite possibly remain in limbo for a decade.  Konichiwa, Obama-san?

You will be long gone by then, and you and Jimmy Carter can sit around and argue over which of you buffoons did the most damage to America.  Unfortunately, the damage will have been done, and we may never truly recover.

Saturday, April 3, 2010

Free at Last!

As the Great One delivered his sermon unto his followers, a great silence fell upon the land.  "I will show you the way!  This land will be made whole again, if only you bow to my will."

Yes, it would certainly be a wonderful world if everyone had insurance.  It would be even better if, along with that insurance card, everyone had the money to pay the monthly premiums, the co-payments, the deductibles, the 40% that insurance doesn't provide for, and all the other out-of-pocket expenses that must be accounted for in our health care system.  In other words, the reality of health care that Obamacare fails to talk about.

All I hear is what a great day, health care is free at last, free at last!  All of America will now have the opportunity to purchase an insurance policy.  Unfortunately, a laminated Obamacare insurance card does not mean that the poor will have their health care needs provided for.

Simply put, this bill is a cooperative effort between the federal government and the insurance companies to force the uninsured to purchase another 43 million (is this the number that they are using now?) policies.

I fail to see how forcing insurance companies to accept 43 million new customers will teach "those evil, profit-driven insurance CEO's" a lesson.  Yet all the while, the bleeding heart idiots still think the poor are being helped by Obamacare.

Every wonder why there are so many people without insurance?  Sure, there are many who honestly cannot afford it.  This is where the state government steps in - it's called Medicaid.

Did anyone ever consider that perhaps not having insurance was by choice?  You remember choice, right?  That thing we used to have before Obamacare?

A young man, with no health concerns, might choose to put his $14,000 a year towards something else.  Obama thinks this is not the American way, and is determined to force this young man the error of independent behavior.

And where are the cost controls for actual health care?  Does forcing everyone to purchase an expensive insurance policy suddenly make open-heart surgery cost $499.95?

Now, that the left has gotten its way, and the insurance mandate is upon us, we must all increase our contributions to provide for those who must accept welfare.

But, wait - what will happen to the poor people who once used the emergency rooms because they had no money?  Reality check:  they will continue to use the emergency room, because they still have no money.  We now have a greater debt, and costs will climb even more.

I am worried about the path this country has now turned down, I am terrified at what the future holds for my children, and I am bewildered at how many support this move towards a welfare nation simply at the empty promises of another lying politician.