Obama, Dodd took contributions, enabled bonuses, now lead condemnations
Taxpayers had more than enough reasons to be mad about the AIG debacle before the bailed out insurance giant paid millions of dollars in “retention” bonuses to current and former executives — including the suits whose decisions imploded the company and the overall economy.
But the voting public should reserve its deepest rage for the very people leading the torch-and-pitchfork brigade: the shameless, phony Washington Democrats who only months ago considered AIG their BFF.
AIG has long been one of the country’s biggest campaign contributors. AIG’s $9.3 million in payouts since 1989 place the company on OpenSecrets.org’s “Heavy Hitters” list, which tracks Washington’s 100 most prolific donors. Prior to the 2008 election cycle, that money was evenly distributed between the two major parties.
But last year, AIG paid close attention to the polls and bet big on Democrats, giving them about 70 percent of its contributions. And the two people AIG singled out for its greatest financial support were Barack Obama and Sen. Chris Dodd, D-Conn., chairman of the upper chamber’s banking committee. The two split about $204,000 in contributions. AIG also spent more than $21 million lobbying the Democratic Congress from 2007 to 2008.
What does that kind of commitment buy? President Obama’s $787 billion stimulus bill included an amendment that limits executive compensation, but provides an exemption for contractually promised bonuses agreed on before Feb. 11, 2009 — an exemption that could not have been better crafted to benefit AIG executives. That amendment was submitted by Sen. Dodd.
Yet President Obama and Sen. Dodd, who championed the “stimulus” boondoggle, would have the public believe these bonuses were a complete and horrifying surprise to them.
On Tuesday, Sen. Dodd took a break from decrying the AIG payouts to make the extraordinary claim that he does not know how the exemption made it into his amendment or who was responsible for it. Meanwhile, White House officials said Tuesday that the president did not learn of the bonuses until Thursday, the day before AIG issued $165 million in rewards. Evidently, neither President Obama nor Sen. Dodd took the time to read their own bill.
Now they’re willing to consider an unconstitutional, targeted tax on those bonuses to undo their purported legislative oversight. But they’ll keep their hundreds of thousands of dollars in contributions from AIG, thank you very much.
This is not a campaign finance problem. This is not a lobbying problem. This is a problem of expedient politicians trying to have it both ways by serving the interests of campaign donors and lobbyists and then pretending they’re righteous when the whole thing explodes in a fireball of public outrage.
For all the money it has spent on elections and government affairs, AIG has demonstrated exceedingly poor political instincts. Its chief executive officer, Edward Liddy, threw himself before a House Financial Services panel Wednesday to beg forgiveness for the company’s foolish and “distasteful” mistakes. Perhaps now, the company realizes that taking $170 billion in taxpayer money — and giving the federal government an 80 percent stake — warrants intensified oversight.
If only President Obama, Sen. Dodd and everyone else who took AIG’s money were held to the same standard.
Wednesday, March 18, 2009
Washington's phony AIG outrage
Thursday, March 12, 2009
Hussein Really Can Pick 'Em!
2 arrested in FBI raid at Obama appointee's office
WASHINGTON - A D.C. Office of the Chief Technology Officer employee and a government contractor have been arrested in a federal bribery sting, sources tell WTOP.
D.C. Office of the Chief Technology Officer employee Yusuf Acar and Advanced Integrated Technologies Corporation President and CEO Sushil Bansal have been arrested, sources tell WTOP.
Acar, 40, was taken into custody Thursday morning by FBI agents at his home in Northwest D.C.
Bansal has received multiple contracts from the D.C. Office of the Chief Technology Office, including contracts to develop Web-enabled applications and IT and anti-spyware support.
The FBI is now serving a search warrant at the office of D.C.'s Chief Technology Officer, WTOP has learned.
"We are there as part of a continuing ongoing criminal investigation," FBI Washington Field Office spokesperson Katherine Schweit tells WTOP.
Schweit would not comment on the details of the investigation.
More than a dozen FBI agents - including evidence technicians - at the office, located at 1 Judiciary Square on 4th Street in Northwest, WTOP's Mark Segraves reports.
Most of the employees have been told to go home. Other employees have been segregated into a waiting room.
Segraves reports the FBI's search has expanded from 9th floor offices to 10th floor offices.
A spokesman for D.C.'s U.S. Attorney tells WTOP he cannot discuss the investigation, as it is currently sealed.
On March 5, President Barack Obama named D.C. Chief Technology Officer Vivek Kundra as the federal government's chief information officer.
Kundra's last day was March 4.
Kundra, who was in charge of technology in the District since 2007, has been a consultant to Obama since he won the election.
I could of taken one look at his "suspicious" name and told you that he's not a good pick!
Stupid Barack.
Wednesday, March 11, 2009
Damn Democrats and Their Stupid Laws
STRIPPER TAX IS HARD TO 'BARE'
ALBANY - Call it an un-cover charge.
A Brooklyn assemblyman introduced a bill yesterday that would require patrons to pay the state $10 every time they visit a strip club or topless joint.
Felix Ortiz, a Democrat, said the flesh fee could raise as much as $500 million for victims of human trafficking, domestic violence, sexual abuse and child prostitution.
States have increasingly turned to the adult-entertainment industry to help close budget gaps in recent years.
Texas lawmakers are fighting to save a similar $5 "pole tax," which was struck down as unconstitutional by a state judge.
Gov. Paterson, facing a $14 billion budget deficit, has proposed a tax on Internet downloads that would also apply to Web porn.
"The bottom line is, we have to protect people who have been victimized by unscrupulous individuals, and we cannot continue, especially in this economy, to have government pay for everything," Ortiz said.
Only in NY. In NV, silicon boobs are sacred.
More Ammo for the Gun Grabbers
Gunman Turns Small Alabama Town Into Slaughterhouse
Gotta love the media sensationalization of every shooting.
The SKS is not an "assault rifle" even by the Clinton ban standards.
If he wanted to kill a bunch of unarmed relatives and neighbors, he could have done so with any weapon, such as a non-assault rifle, bat, knife, etc.
We need to ban crazy people.
It was later determined that McLendon was armed with two high powered assault rifles, a Soviet-made SKS and a Bushmaster. He also had at least one . 38 caliber pistol, police said. He fired more than 200 rounds, police said at a news conference today.
Gotta love the media sensationalization of every shooting.
The SKS is not an "assault rifle" even by the Clinton ban standards.
If he wanted to kill a bunch of unarmed relatives and neighbors, he could have done so with any weapon, such as a non-assault rifle, bat, knife, etc.
We need to ban crazy people.
Monday, March 9, 2009
More finger pointing! We get it Barack!
Holy crap! Barack, you know I had no idea that you were just inguarated! Thanks for reminding me because I keep forgetting that there were Presidents before you! Like at least 43 before you right? Or maybe 42 (Did Millard Filmore really count?)
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"I did think it might be useful to point out that it wasn’t under me that we started buying a bunch of shares of banks. It wasn’t on my watch. And it wasn’t on my watch that we passed a massive new entitlement -– the prescription drug plan -- without a source of funding. And so I think it’s important just to note when you start hearing folks throw these words around that we’ve actually been operating in a way that has been entirely consistent with free-market principles and that some of the same folks who are throwing the word 'socialist' around can’t say the same.""Well, I just think it’s clear by the time we got here, there already had been an enormous infusion of taxpayer money into the financial system."
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If you read one article today...
... read this one.
Suddenly, bloggers, opinion people, columnists and, yes, pundits who haven't paid attention to anything I have been saying or writing for the past 18 months are all over me. Suddenly, I find myself in the center of a firestorm over Obama's economic policies, taking enfilading fire from the "liberal" media (from serious columnist Frank Rich to entertainer Jon Stewart) while being defended by Rush Limbaugh, the standard-bearer for the Republicans.
I'm uncomfortable being in the crosshairs of columnists and comedians I enjoy, and I find the embrace of Rush Limbaugh most certainly strange if not antithetical to many of my viewpoints...
....
If you voted for Obama or are some how deaf to legitimate criticism of Obama, please read this article by Jim Cramer.
Sunday, March 8, 2009
Giving credit where it is due...
Obama rebukes attorney general for describing America as 'nation of cowards' on race... Developing...
'If I had been advising my attorney general, we would have used different language'...
'If I had been advising my attorney general, we would have used different language'...
Thank you for Barack for making sense and using common sense.
Saturday, March 7, 2009
Investors see hope slip away on U.S. missteps
Investors see hope slip away on U.S. missteps
"This really is a vote of no-confidence," said John Riley, president and chief investment officer of money management firm Cornerstone Investment Services in Dallas. "It really does show they're dropping the ball pretty badly."
Indeed, some of the market's worst stumbles of the past several weeks have come in moments when there had been high hopes that Mr. Obama and his economic team would deliver words and actions that would help clarify market uncertainty and restore some confidence.
On Feb. 10, the day new Treasury Secretary Tim Geithner unveiled a disappointingly fuzzy plan to bail out U.S. banks and their troubled mortgage assets, the S&P 500 plunged 4.9 per cent. When Mr. Obama unveiled his nearly $800-billion (U.S.) fiscal stimulus package on Feb. 17, the S&P 500 tumbled 4.6 per cent. And this week's market slide follows last week's unveiling of the administration's first budget, a monster $3.55-trillion plan that will create an unprecedented $1.75-trillion deficit.
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If you want to understand why the market is the true judge of Obama's economic success or failure, just read this article. His missteps, which include: ethical violations, tax corruption, finger pointing, petty politics, policy confusion, broken campaign promises, conflicting policy and international fummbles have eroded confidence in the people who actually pay attention to the policies, the budgets and econmics.
It means absolutely nothing that he still have a high approval rating... every Presedient has had a high approcval rating 2 months after they start.
The real approval rating is the stock market and it has run for cover.
This article sums it up best by saying:
"You need something to restore confidence. At least show some leadership. That's all people want."
Friday, March 6, 2009
Chris Redfield is Racist
'Resident Evil' Creators Insist Game's Not Racist
LOS ANGELES — "Resident Evil 5" producer Jun Takeuchi wants to clear up some misconceptions about his upcoming entry into the popular zombie-killing franchise: It's definitely as scary as its predecessors, players can't run while gunning down foes, and there's nothing racist about the video game, which takes place in a fictional West African country.
"I think the idea that because the game is set in Africa that it's racist is mistaken," said Takeuchi. "I want users to understand that it was never our intention to put anything racist into the game. It's a story that takes place in Africa, but ultimately the story is about helping a region where a bioterrorism incident is occurring."
Footage unveiled at the 2007 E3 Media & Business Summit of the mature-rated game's brooding Caucasian protagonist, Chris Redfield, facing off against a horde of black African villagers caused a furor among many gamers online.
Newsweek technology editor N'Gai Croal wrote that many of the teaser's aspects "dovetailed with classic racist imagery."
"We don't want to create something that offends a certain element of society," Takeuchi said. "At the same time, we don't want to be in a place where you can't set a game in Africa or in an Arabic country. That in itself is a form of racism. For us, as creators of entertainment, it's important for us to strike that right balance."
Like previous games in Capcom's nearly 14-year-old series, the story line of the latest "Resident Evil" centers on a wicked outbreak that turns the locals into rabid zombies.
Set a few years after the original, "Resident Evil 5" explores the African origins of the virus. Other games took place in locales such as Spain, Russia, Antarctica and the Midwest.
Spokespeople for both the National Association for the Advancement of Colored People and the Anti-Defamation League declined to comment for this story because they hadn't viewed the entire game. ("Resident Evil 5" will be released March 13.)
Takeuchi said he believes previous criticism would have been avoided if it had been explained that Redfield is on a mission to help the African country and that he was partnered with an African woman named Sheva Alomar who is based in the region.
Takeuchi also said the game's story line is not meant as a metaphor for AIDS or real-world terrorism.
"Ultimately, I think the problem that we had with this game was a lack in communication," he said. "I think that's where this whole issue comes from. When the game is released and when the public gets to play the finished product, I think people will see the whole racism issue was just a misunderstanding."
"Resident Evil 5" will be available on PlayStation 3 and Xbox 360. It will introduce cooperative gameplay, which allows a second player -- either online or in person -- to control Alomar. (The computer will help solo gamers.)
The game takes place in Africa. Are they supposed to make all of the Africans white? How would that make any sense? If it offends you, then don't buy the game. I didn't hear anybody crying about the Hispanic zombies from RE4.
I'm of Japanese descent and I have killed thousands and thousands of Japs in World War 2 based games. It doesn't offend me. It's good entertainment.
Or to quote Cartman: "Aw dude, I wish I had a real flamethrower! It works awesome on Japs!"
If you read one article today...
Read this one:
A financial crisis is the worst time to change the foundations of American capitalism.
Robert Gibbs and his enemies
“I think they’ve always thrived on being an opinionated show, but I just think some of their opinions are wrong,” Gibbs said.
"If your enemies are fighting themselves, then they don’t get in the way,” Gibbs said.
So let me get this straight, when the White House thinks your opinions are wrong you become their enemy?? Dissenting opinion "gets in the way"??
Sure as hell sounds like silencing, condemning, attacking to me... regardless, its petty, the kind of petty politics that Obama was supposed to stop.
At the very least the White House needs to be listening to Santelli and Cramer... its not like these guys aren't professionals and for the love of god they are on NBC! Cramer voted for Obama and is a Democrat!
HIllary: Never waste a good crisis
"Never waste a good crisis," Clinton told a hearing at the European Parliament. "And when it comes to the economic crisis, don't waste it when it can have a very positive impact on climate change and energy security."
ummmm... speechless
***UPDATE: "You never want a serious crisis to go to waste," said Chief of Staff Rahm Emanuel. "This crisis provides the opportunity for us to do things that you could not do before."
Thursday, March 5, 2009
More on the UK snub
Search Results
The snub: Obama removed "the Winston Churchill gift bust from the Oval Office and refused to schedule a full-fledged side-by-side news conference with Brown"
Oh but they also exchanged gifts.
So what did Gordon Brown give Obama?
"a pen holder carved from the timbers of the HMS Gannet, which was a sister ship of the HMS Resolute, and first edition biography of Winston Churchill."
And in return:
Gordon Brown has been given a collection of 25 classic American films on DVD as his official gift from Barack Obama.
Wow! Way to solidify those trans-Atlantic relations Barack. I think a subscription to Netflix would have been more useful.
Slience the Opposition!
Slience the Opposition!
Obama and the Democractic leadership are directly going after Rush, Hannity and even Jim Cramer! Cramer is the Chariman of TheStreet.com and host of Mad Money on CNBC and has recently been, oh no, critical of Obama and The White House. CNBC's Rick Santelli has also been critical and the Team Obama is already getting silenced by CNBC.
I cant believe that we are actually living in a world where politicans are stepping up attacks on their critics... what is the point of the media, the free press, the internet, if not to be the voice of the opposition?
Is Team Obama so sensitive and protective of their image that it warrents stooping to these levels?
Scary stuff kids...
Limbaugh: White House 'Playing Manipulative Games With Washed Up Talking Heads Targeting Me'...
Jim Cramer: My Response To The White House...
Wednesday, March 4, 2009
Obama plan: 2% APR, no closing costs!!
Borrowers in the first part of the program won’t be charged to modify their loans, while homeowners refinancing through Fannie and Freddie would be responsible for some costs...
ARE YOU EFFING KIDDING ME!
The modifications would allow a lender to drop the interest rate to as little as 2 percent to achieve the ratio, and if necessary, extend the term or amortization of the loan to as long as 40 years.
Obama Plan forgives second leins
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It’s not that I don’t get the reasoning. Sure, do all you can to help people pay their mortgage, like get rid of other debt. By why stop there? What about car loans? Student loans?? The second liens, in general, were used by borrowers to either buy more home than they could really afford or to use their homes as ATM machines. Yes, some people use home equity lines of credit to pay college tuition.
But I can’t tell you how many homeowners I’ve interviewed (and just take a look at David Faber’s documentary House of Cards to see more) who took out home equity lines to put in a pool or buy a fancy car or put an addition on the house that includes a fancy new kitchen with a Viking six-burner. And I’m supposed to pay for all that?
In fact, if Americans hadn’t taken quite so much money out of their homes during the housing boom, we wouldn’t be in quite the underwater mess we’re in right now.
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So in case you guys aren't clean on this... When some retard took out a home equity loan to remodel is game room or install new stainless steal appliances or redo his landscaping and then finds himself unable to pay his mortgage the Obama plan will not only help him pay his mortgage BUT ALSO HIS HOME EQUITY LINE OF CREDIT!
BTW, I remodeled my condo, bought stainless steal appliances and redid the floors and used a credit card which I paid off!! I supposed a home equity loan and defaulting on my mortgage would have made more sense.
A better idea...
"The Obama administration on Wednesday launched a $75 billion mortgage modification program aimed at preventing home foreclosures for single-unit home loans up to $729,750.
Unveiling more details of the program, the U.S. Treasury said borrowers would be required to demonstrate financial hardship to their loan servicers, such as a job loss or an imminent payment increase that cannot be met."
Ok where to start with this insanity:
- $729k!!! WTF really?! We are helping people in $700k homes?!
- How exactly do you demonstrate a "financial hardship"?
- Imminent payment increase?
Guess what fockers?! If and when my payment goes up I'm going to pay it because I can afford it becuase I live in an affordable house.... not a house that is $700k!!
I honestly wouldn't have a problem with this Obama plan if it weren't for the $700k ceiling. Look, a family of 5 that lives in a $200k home and has a layoff of the main income earner probably could use a helping hand, I get that. I'm not happy about it, but I get it.
But anyone who has risky interest-only loans, balloon mortgage, sub-prime loan on anything over $300k can go fock themselves. You made a bad investment and you obviously can't pay your bills, screw you.
Here is a better idea:
Let's take all the responsible people, who live in affordable houses who can pay their mortgages but are underwater in their house. If you put a responsible 5% down on your home and over the past year found you home value decrease by more than 5% through no fault of your own, you should be able to renegotiate the loan with the bank since the bank got bailed out.
That would in effect give responsible people a tax break, a handout, a "gee thanks for not helping to destory our economy"
Then lets look at anyone who has been laid off and lives in an average priced home (I believe the US average is $191k) so lets say $150-$249k ... if we are going to give anyone a break let's start here.
Obama 'just plain rude' to UK...
PAPER: Obama 'just plain rude' to UK...
Way to go Team Obama!
In less than 2 month you have pissed off England, France, China, Russia, Eastern Europe and Israel all while Venezuela, Syria, Iran and N. Korea still hates us.
Snub England, start a trade war, alienate the newist Democracies in Eastern Europe, 'bailout' Hamas with $900 million...
All while giving absolutely ZERO confidence to the country.
At least Bush only pissed off our enemies... Barack is actually pissing off our allies!
Did I mention that yet again another one of your cabinet appointees has a tax problem??
Tuesday, March 3, 2009
As the Dow keeps dropping, the President is running out of people to blame
As the Dow keeps dropping,
the President is running out of people to blame
"It's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence -- and thus a longer period of recession or subpar growth."
Global Climate Change = The Weather
"The discrepancy gets to the heart of one of the toughest problems in climate science -- identifying the difference between natural variability from human-induced change"
Maybe its tough because there is no difference.
Monday, March 2, 2009
Obama: Americans Cannot Achieve Success (Especially Black People)
(I had to include a screenshot of the banner ad)
Obama: These are policies that will make a big difference in the African American community. You know that tough times for America often mean tougher times for African Americans. This recession has been no exception. The unemployment rate among black Americans is a full five points higher than the rate among Americans as a whole.
Keep drilling that into their heads Obama. YOU WILL FAIL! YOU CANNOT SUCCEED! ONLY WHITE PEOPLE CAN SUPPORT THEMSELVES! RAAAH! FEAR! DESTRUCTION! CRISIS! CATASTROPHE! AMERICA IS DOOOOOMED!
Mr. Obama also said it would take the “commitment of parents and teachers and community leaders” for the government to succeed.
Whoops. Freudian slip. I'm sure she meant "for the people of America to succeed."
Obama's economic strategy: screw things up worse, cause panic, and encourage people to sit on the sidelines until the government fixes things. It's such a stimulating strategy!
Sunday, March 1, 2009
Obama the next JFK? I think not!
JFK: "The world is very different now. For man holds in his mortal hands the power to abolish all forms of human poverty and all forms of human life. And yet the same revolutionary beliefs for which our forebears fought are still at issue around the globe—the belief that the rights of man come not from the generosity of the state, but from the hand of God."
What a difference. Ask not what your country can do for you, but ask what you can do for your country! The rights of man do not come from the state! Man holds the power to abolish all forms of poverty!
That does not sound at all like Mr. Obama
Obama:
"The question we ask today is not whether our government is too big or too small, but whether it works, whether it helps families find jobs at a decent wage, care they can afford, a retirement that is dignified.
Where the answer is yes, we intend to move forward."
Ask not what you can do for your country (like pay your bills, be responsible, get a job, get good grades or serve your country), ask what your country can do for you (like bailouts, welfare, universal health care, tax rebates when you don't pay taxes)
More good news on the Fairness Doctrine...
Senate Backs Amendment to Prevent 'Fairness Doctrine' Revival
FOXNews - Feb 26, 2009
The Senate approved an amendment Thursday that would outlaw the so-called "Fairness Doctrine," an off-the-books policy that once required broadcasters to ...
Senate bars FCC from revisiting Fairness Doctrine The Associated Press
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