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Archive for the ‘barney frank’ Category

A new plan by Glorious Leader’s team has come to light. Since Europe won’t help us by spending more money, the administration has hatched a plan to entice private investors to buy the troubled assets that are pulling banks down into an economic abyss. Even though they have, as yet, been unsuccessful in garnering private industry support the administration feels that these new “mutual funds” will be a great investment.

The funds, the thinking goes, would buy troubled mortgage securities from banks, enabling the lenders to make the loans that are needed to rekindle the economy. Many of the loans that back these securities were made during the subprime era. If all goes well, the funds will eventually sell the investments at a profit.

But, as with any investment, there are risks. If, as some analysts suspect, the banks’ assets are worth even less than believed, the funds’ investors could suffer significant losses. Nonetheless, the administration and executives in the financial industry are pushing to establish the investment funds, in part to counter swelling hostility against the financial industry…

…Perhaps more important than the money would be the political bonus of having thousands or even millions of taxpayers — whose portfolios have nose-dived during the crisis and whose tax dollars are financing bank bailouts and stimulus packages — profit from the toxic asset plan.

Did you notice the key line here?

there are risks. If, as some analysts suspect, the banks’ assets are worth even less than believed, the funds’ investors could suffer significant losses

I know, looking at how honest and open our government has been thus far regarding the troubled assets, there is no way in HELL I would ever partner with the likes of Bawny Fwank or Corruptible Dodd. But that is just me. Welcome to WWI redux.

The revolution is at hand. Will you be a leader or a follower?

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Are you feeling the love of Glorious Leader yet? If not, you soon may be. In an unprecedented (just how many times can we say that with one administration) power grab the United States Congress has moved to control the salaries of all employees working for companies that it has invested in. What does this mean actually?

Basically, if you work for any company that received TARP money, whether the company wanted it or not (and some were ‘encouraged’ to take the funds), then Treasury Secretary “Turbo Tax” Tim will get to make the call as to whether or not you are receiving the correct compensation for your services. It does not matter if you have a contract or not because the legislation will be retroactive. Yes, that is correct, Uncle Nanny will now decide if you make too much in salary, bonuses, stock options, or any other of a myriad of potential compensations you may be getting as dictated by the terms of your contract.

Bawney Fwank, resident weasel in charge, is the individual behind this fiasco. If it is not stopped, one can be rest assured that things will only go from bad to worse. Next up, remember, is the auto industry. Then, when carbon cap and trade threatens to bankrupt the coal industry, they will have a bailout forced upon them as well. Soon, I imagine, all of Energy will be governmentally dictated.

Can you say armaggeddon?

Read the original article here.

The revolution is at hand. Will you be a leader or a follower?

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It is a well known fact that Bawney Fwank (D-MA) is gay. He and his boyfriend, in fact, were involved in a scandel where a brothel was (apparently) being run from his home a few years back. The guy is obnoxious, routinely blames everyone but himself and flat out lost his mind over these AIG bonuses.

Well, because Supreme Court Justice Scalia believes that some issues (gay marriage, consensual sodomy, etc) should remain at the the state level and away from activist judges, Fwank has accused the SCOTUS member of being a homophobe.

I submit that the idiot congressional imbecile is, in fact, a Breedophobe. After all, Justice Scalia has shown great restraint and careful thought regarding his decisions. Fwank, however, flies off at the mouth like the juvenile girl that he is.

The revolution is at hand. Will you be a leader or a follower?

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I love Shepard Smith from FOX News. He flat out blasts congress right after they convene from the Liddy witch hunt.

Check out the video at Andrea Shea King’s blog.

Sweeeeeeeeeeeeeet!

The revolution is at hand. Will you be a leader or a follower?

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Edward Liddy, just recently put in charge of AIG to get the giant back on track, who took no bonus and is getting paid a whopping ONE DOLLAR A YEAR salary, was railed against and threatened by everyone on Barney Fife’s Fwank’s panel for what he was trying to do with the bonus money for executives. He was grilled and yelled at all afternoon, all the while trying to protect his employees from getting publicly outed to society (recall how well that went in California when the hater gays outed all of those who supported Prop 8??). He even read them death threats people had received, to which our hair lipped heroine (Fwank) commented “All of us here receive those”.

I am confident that when someone dies because of getting a bonus for trying to do the job, Miss Fwank will be there with compensation in hand for the family of said, murdered employee. However, that is not the point of my post, but only a lead in to the real deal.

Chris Dodd swore up and down that he had no clue about the amendment in the bailout bill that allowed companies to continue to pay the bonuses. He then went on to rail AIG for being criminally negligent, an evil capitalistic Satan whose soul was sold to the Wall Street gods. He went on CNN and railed against the insurance giant, vowing to get the money back to the people.

Until today, wherein Mr. Dodd humbly admitted that he, in fact, did add the provision back into the bill, at the ordering of that evil, mean, wicked Treasury Guy. You know, Turbo Tax Tim, who was in charge of getting the bailout of AIG in order along with former secretary Paulsen.

His ass should be in front of the Ethics Committee. He could care less about the people, as long as he stays clean in all of this. Crooks, crooks, and more crooks.

The revolution is at hand. Will you be a leader or a follower?

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The recent debacle occurring at AIG is almost (almost) laughable. Here we have a large company under contractual obligation to its employees. Because congress has tried to regulate the salaries of those on Wall Street, and because public opinion of big business is driven by the hostile media, corporate executives have found a relatively solid way of retaining the best and the brightest; they use bonus money. I get a bonus. Nothing near what Wall Street execs get, but a few extra dollars in the pocket are nice at the end of a long year. Am I going to be the next target? Am I being greedy?

Bonuses are in contracts. An employee gets a lower rate of pay, based on the assumption that performance bonuses will be paid at year’s end. Now, before you scream and cry at the fact that AIG lost a lot of money this past year, don’t forget that AIG is a huge company. The fact is that a lot of AIG’s divisions were profitable. However, they were caught by the severe downturn like the rest of the world. The reason they lost so much is the same reason that so many people lost their 401K. They are worth less. They have less available cash because their stock isn’t worth squat.

Does that mean that all of the bonuses should be paid? Well, yes. In fact, the very same congressmen (Dodd, Fwank) who are screaming at the horrific scene are the ones who wrote the terms of the bailout. In those terms, it is explicitly stated that all contractual bonuses will be honored. Why, then, are they coming out with such vehement rhetoric? Did they not read their own words? Why are they not clamoring over the union contracts that guarantee pay and bonuses? Is it because the unions are good and the evil, rich Wall Street guys need to be put in their place? Are they trying to fight for the little guys on Main Street?

Hardly.

The fact is that congress has, is, and shall continue to get funded by the very same people they are chastising. They put on this big front, making it look as if they care, all the while using this ‘crisis’ to drive a more socialistic agenda. As Ed Morrissey put it, congress could have avoided the entire problem by letting AIG file for Chapter 11.

Idiots.

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Not that there is anything wrong with taking free money in exchange for your vote in congress, but I just cannot stand that self-righteous S.O.B. from Massachusetts. Hence I shall mercilessly attack him any chance I get.

The Jawa Reports has the story of who gave to this corrupt-o-crat, when, and how much.

I am in the wrong business. I want all of my friends to start donating to MY cause. I promise, I will speak nicely of you on my blog. :/

The revolution is at hand. Will you be a leader or a follower?

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In case you missed it, our friend Barney Frank, you know, the guy who said Fanny Mae and Freddy Mac were ‘good going forward’ a few months back, well, he said THIS on CNN:

“Yes, I believe later on there should be tax increases,” Frank said.
“Speaking personally, I think there are a lot of very rich people out there whom we can tax at a point down the road and recover some of this money.”

And if the ‘rich’ (read: over 250K) are not enough to pay it back, then who???

Yay for socialism. I can’t wait. I am going to quit my job, go on welfare, and stay there until I die…

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