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Archive for the ‘Bailout’ Category

From the Merriam-Webster Dictionary:
Main Entry: in•def•i•nite
Pronunciation: \(ˌ)in-ˈdef-nət, -ˈde-fə-\
Function:adjective
Etymology:Latin indefinitus, from in- + definitus definite
Date:1530
: not definite: as
a: typically designating an unidentified, generic, or unfamiliar person or thing
b: not precise : VAGUE
c: having no exact limits

Main Entry: per•ma•nent
Pronunciation: \-nənt\
Function: adjective
Etymology: Middle English, from Anglo-French parmanant, from Latin permanent-, permanens, present participle of permanēre to endure, from per- throughout + manēre to remain — more atPER-, MANSION
Date: 15th century
: continuing or enduring without fundamental or marked change

So Treasury Secretary Tim ‘Tax Cheat’ Geithner says that the Treasury takeover of the financial sector is not exactly permanent, but does not have a real exit strategy to put the businesses back in the hands of the free market.

Imagine that. A government program being solidified into a NEVER ENDING structure. Shades of FDR.

Read more here.

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

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Hope.
Change.
New America.

Yep, I totally understand. The location has changed, but the way of doing business has not. Glorious Leader’s legendary exploits in the world of Chicago politics have been well-documented. His wise and judicious associations with numerous Chicago luminaries leave one i awe of just how much of a force of Nature this man is. As such, it is not unbelievable that he is willing to bring that good old-fashioned know-how to the big dance.

When then credit lenders were less than eager to support the Chrysler bailout program, GL and his staff of hard-working Chicagoans used a bit of leverage to convince the banks that they were off in their assessment. Of course, after bringing the errors in judgment to light, the banks realized that the effort was, indeed, a good one and thus through themselves fully into the deal.

Ah yes. This is what America is all about. Honoring contracts. Respecting dissent. Cooperation. It truly is a new and Hopeful Day for this country.

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

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UPDATE: Check out the live tweets!

UPDATE: The pictures and videos roll in!

April 15th has traditionally been looked at with dread by many people. It is the day when the taxman cometh and taketh away all our hard earned wealth. Not to sound all EXTREMIST or anything, but has ANYONE ever found the law that says we are REQUIRED to pay Federal Income Taxes? After all, if the CONSTITUTION says that the only taxes authorized to be levied are direct (which must be apportioned- i.e. equal for all) and indirect (which are taxes on items that can be avoided, like gas and tobacco) then where are Federal Income Taxes (which are graduated, based on income) authorized?

Answer? They are not. We are not required by LAW to pay them. Of course, in saying so I shall now be toted off to a re-education camp, labeled a radical right-wing extremist and/or written off as a loon. Still, if you have the law available, may I read it? After that I will bring it to the Supreme Court, who has ruled numerous times that the Federal Income tax is not in law anywhere. Well, technically, they say that the 16th amendment never gave congress power to levy NEW forms of tax- i.e. Federal Income Tax. (And one district court judge, in 2003, commented that the amendment has never been properly ratified by the states!)

So any help you can give is appreciated. The more who visit and comment, the more I learn. So help me out here!

I hope to see you in Orlando today. It is going to be an EXTREMIST EXTREMELY great time.

Michelle Malkin has a great piece on the evolution of these events. Read the article, because you won’t find the information in the MSM anywhere (unless you are lucky).

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

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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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Michelle Malkin called it correctly. There are certainly some prominent asshats trying to ruin our sacred land, and if we do not take a stand they will succeed. I have no doubt that these IDIOTS sit in their offices and chuckle at just how gullible and uninformed the vast majority of people are out there.

Up next into the croissfire is Connecticut Attorney General Blumenthal. This is the guy who is on a mission to extort, by any means possible, the bonuses paid to the AIG executives. The reason he gives is the most laughable, and actually the most frightening of any I have yet heard:
“Because they are undeserving of it.”

So now the government decides who is deserving and who is not? Like them or not, those men and women were under contract. What would happen to modern day pro sports if every athlete had to return his or her salary because they were not ‘effective’ in their endeavors? Granted, some of them SHOULD give them back but are you willing to say with 100% accuracy that they are undeserving of it?

This is where the government is heading, straight down a slippery slope of overbearing control where nothing is going to stop it if We The People do not take a firm stance and draw an unwavering line in the sand.

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

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I know that politicians, when running for office, have to ask supporters to make donations in order help cover the costs of advertising, holding events, getting their message out, etc. So why is it, that only a couple of months into his administration Glorious Leader is asking American citizens to give more to his campaign?

Are not he and his henchmen supposed to be working hard for the little guy? Are they not giving their best effort to see that the little guy is getting to keep more of his hard earned wages? Perhaps it is so that people have more to give to the Democratic machine?

I guess that they cannot print any more, so they must beg the people to bail them out?

Check out the story here.

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

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When the word came out that AIG executives were getting bonuses, public outcry reached a crescendo. Rightly or wrongly, the fact was that these people had received compensation as detailed in the various employment contracts signed by them and their employer. I don’t think that those who actually ran the operation should get those bonuses, but the middle-tier folks should not be sucked in because of following corporate direction.

Add to that the group of folks working outside of the Dirivatives department, people whose departments actually MADE money for AIG and it becomes apparent that there was much more to the story than just the old ‘evil big business’.

Of course, our elected oaf-icials (again) began crying foul. Just like during this past election, they promoted the class warfare issue and decried that the AIG employees MUST give back the bonus money or they would get taxed so heavily as to recoup the entire fund. I was glad to see that our congress was looking out for the little guy. Heck, even House Republicans, 85 of them, joined the band wagon to extort private citizens of their money. It does not matter, to me, about that pesky founding document (Consti-something or other) that provides the basis for all binding contracts. This was a crisis that had to be immediately dealt with.

Luckily, our hallowed halls were righted with the passing of a 90% tax on those criminals. We The People were on our way to getting our $200 million back. Necessary, though, was to let go of the $65 billion paid to foreign banks, as there was no one really to focus our anger on about that. Not important. Since those evil employees live here in the US, we can bus ourselves to their houses and give them what for!

It also does not matter that this precedent would allow congress to, later on, target any other private citizen with a tax. If that person did a bad thing (like make money for The Man) they deserve to get the shaft. Congress has been shafting the rest of the country for ages; why would they be any different?

I am perturbed, though. It seems that some in the Senate have blocked this legislation. It seems they have actually (idiots) looked at the illegality of this bill that creates a law to tax a specific group of 70 people. Who do they think they are? They trample the Constitution repeatedly and NOW they grow a conscience? What, have they been listening to the PEOPLE? Did they hear the VOICES raised up in anger over the punishing(however well-intentioned) of private citizens?

Hell hath frozen over. Dress warm.

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

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Glorious Leader has sent his resident tax-cheat-in-charge out to pump us up regarding the next phase of the unbeatable plan to ruin our economy. “The latest attempt to tackle the banking crisis and get loans flowing to families and businesses will create a new government entity, the Public-Private Investment Program, to help purchase as much as $1 trillion in toxic assets on banks’ books.” says FOX news.

Is it me? Or are the idiots in congress just completely clueless about things? The problem is not a lack of money out there, it is a lack of trust. Get people doing things that business and industry feels will work, and watch things begin to turn around. All that is going to happen is runaway inflation. Why can a retired enlisted guy with just a community college education see it, but movers and shakers of the financial world cannot?

The answer? They can.

If you read what foreign papers (and even Time magazine) you will see that behind the scenes, banks and financial powerhouses are trying to force the world into a globally run banking industry.

Russia and others want a new, global currency where the entire world pays into. What does this mean for us? We would be paying taxes to a global government made up of financial corporations and banks. Instead of your tax dollars helping California (a bad thing if you live in Florida anyway) it would go to help, say, Poland, or the U.K. or Kenya. We would be at the mercy of institutions like the UN or Bilderberg.

Conservatives are taking a stand, but they will need our help.

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

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He Of The Ever-Tear, the self-proclaimed “mostly chick” has them nailed. Check out Glenn Beck’s The One Thing.

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

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