From HaltTheAssault.com we find a union member’s response to the union bailouts.
Bailout
Democrats Insisted Fannie and Freddie Were Juuust Fine…
-By warner Todd Huston
The Wall Street Journal has an important op ed that every American should read. It is simply a reiteration of quotes from high ranking, Congressional Democrats who swore to us that there wasn’t a thing wrong with Fannie Mae and Freddie Mac. They made these claims because the faulty rules they were pushing were little else but sweet heart deals for the special interests, lobbyists and NGOs that donated huge cash to their campaign coffers. This was graft, pure and simple, and, to use a favorite Democrat expression, those chickens are coming home to roost.
Aside from the WSJ, the rest of the media have seriously neglected the truth in this case. This economic mess can be laid squarely at the feet of the Democratic Party.
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What They Said About Fan and Fred
House Financial Services Committee hearing, Sept. 10, 2003:
Rep. Barney Frank (D., Mass.): I worry, frankly, that there’s a tension here. The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see. I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios. . . .
Secretary Martinez, if it ain’t broke, why do you want to fix it? Have the GSEs [government-sponsored enterprises] ever missed their housing goals?
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House Financial Services Committee hearing, Sept. 25, 2003:
Rep. Frank: I do think I do not want the same kind of focus on safety and soundness that we have in OCC [Office of the Comptroller of the Currency] and OTS [Office of Thrift Supervision]. I want to roll the dice a little bit more in this situation towards subsidized housing. . Continue reading “Democrats Insisted Fannie and Freddie Were Juuust Fine…”
Let’s Blame Barney Frank, Chris Dodd & Bill Clinton
-By Frank Salvato
Now I know how Elvis Presley felt when he shot his television! Watching Barney Frank (D-MA) and Chris Dodd (D-CT) pontificate about how they are going to save the country in it’s time of financial crisis made me nauseous. How is it that these two charlatans can fain concern when they are among the principles responsible for getting the taxpayers into this mess?
By now even the most intellectually stunted among us understands that the first casualty of politics is honesty. No matter how superficial or how serious the matter, inside the beltway spin doctors take the facts, carve out anything that points to their client’s guilt or responsibility in any given matter and then figure out how to package it so they can level a charge of irresponsibility and ineptness at their opponents or opposing colleagues. Kool-Aid drinking political sycophants glom on to these talking points and suddenly the innocent are the guilty and the inept and responsible are pointing fingers of blame.
Continue reading “Let’s Blame Barney Frank, Chris Dodd & Bill Clinton”
Nancy Pelosi — Cretin
Audio of Karl Rove revealing Nancy Pelosi’s underhanded, lying, lack of leadership in the bailout.
Here’s Some Gall: Democrats Want to Tax Wall Street
-By Warner Todd Huston
These scumbags really have gall, ya know? First we have Democrats from the Carter administration all the way up to those serving with the Obama campaign being key players in the mess that became our current economic hell and NOW they want businesses to pay for the mistakes Democrats made. Democrats have come up with the brilliant idea of taxing Wall Street to “pay back” the treasury for the bailout.
Reuters is reporting that Democratic Speaker of the House Nancy Pelosi is claiming that she wants to drag down Wall Street even further by levying confiscatory taxes on investors and investment firms if the treasury isn’t paid back in 5 years time.
“If after five years … the CBO decides that the American taxpayer has lost money in this, then there would be a fee on financial institutions,” Pelosi said, adding that she hoped the provision could be part of a final bailout deal.
So, the Democrats are responsible for causing this mess and they want someone ELSE to pay the bill? Democrats have the gall to pretend this is everyone else’s fault!
It figures. Continue reading “Here’s Some Gall: Democrats Want to Tax Wall Street”
Dems Bailout Proposal Redirects ‘Paulson’s Profits’ To Left-Wing Groups
-By Warner Todd Huston
Bush told the country that we are in an economic crisis and his Treasury Secretary, Henry Paulson, came up with an idea that would, it is claimed, end up actually making money for the U.S. Treasury in the long run. That’s all well and good, but the Democrats already have a plan to siphon off any repayment of the people’s money back to the treasury by adding one little line to the agreement that would end up stealing money from any repayments and giving it to left-wing political advocacy groups like ACORN, the National Urban League and the Hispanic group La Raza. Instead of trying to help the economy, the Democrats just want more money for their left-wing political constituents. It’s business as usual for the Democrats, of course, but a bigger question is will the media let them get away with it?
On Thursday, the Senate Democrats shopped around a one page “Agreement in Principle” from the U.S. Senate Banking Committee that laid out their proposal for the bailout of the economy. At first it all seems rather straight forward, but hidden inside this document is one little line that proves that Democrats aren’t as interested in the economy as they are in trying to extort a payday for their favorite political advocacy groups. Yes, even in a bill as important as the bailout the Democrats are trying to stuff it with pork!
Of course, the claim that this bailout will make money is not cut and dried. But the idea is that the bailout will put the Treasury Department in ownership of what could easily later become lucrative investments. And, at that later date, the Treasury Dept. can then begin to sell these investments off at a profit and, thence, pay back the Treasury for the bailout — in essence repaying the American people. But, the Democrats already have a plan to spend “profits” that not only do not exist yet, but may never exist. In the “Agreement in Principle” is the following line:
Continue reading “Dems Bailout Proposal Redirects ‘Paulson’s Profits’ To Left-Wing Groups”