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Archive for the ‘TARP’ 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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[H/T Michelle Malkin]
I owe my readers (both of you) an apology. A few days ago I posted about the coming nationalizations, running from the banks to the auto industry to health care and beyond. I pointed out that I thought that due to the Cap n Trade policy being instituted our Energy industry would begin to fail and thus require (well, not require but it would be forced) federal intervention.

I totally missed an industry and it is a BIG one. Now, Timmy “Tax Cheat” Geithner has announced that the TARP money will now be extended to failing insurance companies. Here in Florida, State Farm has elected to drop home coverage due to costs and the inability to pay out. Will they now get ‘help’ from Uncle Nanny? If so, here is your next nationalization possibility.

Imagine that. Insurance AND Health Care run by the government. I am seriously getting ready to pee my pants here!

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

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Anyone that thinks unions are rally a good thing is blind to just how bad they are for our country’s economic health.

The union cries about its worker’s pay, yet the continued ‘negotiating’ of higher wages leads the employer to raise the cost of goods. The employer is less profitable and so it must make business decisions that hurt the employee (force reduction, outsourcing, etc). When change that works is proposed, the union actively fights against it. For example, the teacher’s union refuses to allow merit pay for teachers. Why? Because it is not fair to the others? A teacher who does well does not deserve higher pay than those that are really poor? The union seems to think so, else why do they lobby so hard against it? If the teachers got better pay and did not need a union (which they don’t, but the unions will strong-arm them into line) then the union is bust.

What about what the big unions are doing now? They want banks who received bailout money to not be allowed to lobby for what they believe is good for their business. Actually, what they want, is a few select anti-union folks to be quieted. You can read the article here at the Wall Street Journal. It is amazing to me that anyone can defend any union. In the past they had a purpose. However, laws nowadays prevent all but the most extreme of cases.

Tell the unions to back off. This is America, and they are damping our ability to succeed.

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

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Tax Payer Bailout Patrol!

Move over PCH (Publisher’s Clearing House), the TBP is on the move and coming to a city near you! Thank God. I am SO in need of a new T.V.

(H.T. Michelle Malkin)

 

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

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William A. Jacobson, over at Legal Inssurection, has the perfect depiction of the TARP program in action. Had only he put this out last September!

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

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