What Do We Have Here? Bank of America Will Accept California’s IOUs
What a surprise! Bank of America, now owned mostly by taxpayers will be accepting California’s IOUs.
California, one of the most solvent states is of course good for their debts/sarc.
This really should have been expected – a state-run bank accepting an insolvent, soon-to-be-bailed-out-state. Seems like monopoly money to me! This is similar to a false economy, where government interference and regulation make free markets anything but FREE/REAL.
Ponzi scheme has become my favorite catch phrase. It effectively seems as though California is issuing it’s own fake currency called IOUs, although it is already insolvent, to pay back at a later date – of which, will never happen. Bank of America is already suffering and got into trouble the last time it bought a toxic company and toxic assets, as did many others – but here it is doing the same thing again. Insanity = Doing the same thing over and over again, expecting different results.
Bank of America Corp. says it will accept warrants issued by California’s state government through July 10.
BofA says the state’s budget crisis prompted its decision.
“To support our customers, while giving the state legislature additional time to pass a budget, we will accept California state-registered warrants — or IOUs — from existing customers and clients,” Charlotte-based BofA (NYSE:BAC) says in a written statement.
It is always important to ask “Why” in these very odd and overwhelming times.
Why would Bank of America, who is already in financial trouble and dire straights, accept California IOUs, which it will probably never see? Why does this seem incredibly like the forced situation of Merrill Lynch? Is Bank of America doing this as a favor to the US government? Should I assume that Bank of America will get more bailout dollars if it accepts such a risky investment?
My biggest “beef” with this scenario: who is supporting Bank of America? The government! And where does the government get its money? The taxpayers! It’s not ok by me, that my money is being used to help bailout California due to its liberal/progressive policies that it enacted on the state.
“It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder.” ~ Frédéric Bastiat 1801-1850 “The Law”
Most States Lose Under Cap-and-Trade; Except Most of the Republican Turncoats’ States
Well, surprise, surprise/sarc… 6 out of the 8 members of the GOP turncoats came from the only states which are likely to see benefits from Cap and Trade (CA, WA, NY, NJ). I’m not surprised about Mark Kirk due to the contributions he received from Exelon Corp. (34.1K), who came out in support of cap and trade legislation and who have been a part of the Chicago political machine themselves. Heck, Exelon was even a bailout candidate!
Mike Castle is a little more head scratching. Delaware does not appear to make money off of this bill, granted they lose far less than other states. The only correlation that I can see is similar to Mike Kirk’s. There is possibly a Delaware business/entity which has ties with Joe Biden and will fare well due to this massive tax hike. The other explanation is where Mike Castle sits on the financial services committee and Wall Street (many of his donors) will make tons from this legislation.
Interesting to note, as well, is that red states will suffer the most. Pay back time? If red states lose money and constituents have nothing in their pockets there is a chance that our drug dealing government can swoop in and tempt you with their entitlement dope and try to get you hooked… More and more is starting to look less like a conspiracy.
Did the GOP Dirty 8, AKA the Cap-and-Tr8ors, Receive Green to be Green?
Just out of curiosity I began digging on the past and current donations of the 8 Benedict Arnold’s of the Republican Party who voted in favor of cap-and-trade.
As I began to investigate who donated significant amounts to each candidate’s piggy bank, I noticed there was a common trend; these 8 GOPers all had enviro-groups, unions, & alternative energy companies putting money in their coffers.
As an interesting aside, there is a PAC called the Tuesday Group PAC and for all intents and purposes, it may as well be called the RINO PAC ~ 6 out of the 8 tr8ors were funded by this PAC.
Those same 6 are also funded by the Republican “Main Street” Partnership PAC ~ another RINO group.
Recall that GE and Honeywell at one point tried to merge – Honeywell has contributed to almost all of these 8 candidates and GE to some as well. GE is predominantly Democrat, so that should tell you something and at times GE has contributed for the 2010 campaign but did not contribute prior to that… Could the “eight” be getting a deal from both? GE and Honeywell are advocates of global warming and the cap-and-trade system.
Mary Bono Mack:
Mary Bono Mack is part of the energy and commerce committee, headed by none other than, Henry Waxman, of the Waxman-Markey notoriety. One could surmise that she was promised something by Waxman and Pelosi and possibly wanted to make her “boss” proud. However, I was also interested to find out who donates to her.
In 2008 the following contributed:
General Electric (enough said) ~ $4.5K
Edison International/Edison Electric Institute ~ $10.75K
PG&E Corporation ~ $3.5K
Calpine Corporation ~ $2.5K
Sempras Energy ~ $2.5K
Excel Energy, FirstEnergy Corp, Electric Power Supply Assn, American Electric Power, Constellation Energy, etc. ~ $10K
SEIU (union is for a cap-and-trade system) ~ $10K
B&D Consulting/Lobbying ~ $3.5K
Honeywell International ~ $10K
And What about 2010?
General Electric (enough said) ~ $1K
Edison International ~ $5K
B&D Consulting/Lobbying ~ $3K
Honeywell International ~ $1K
Mike Castle:
Mike Castle is part of the Education and Labor Committee and is backed by a lot of trade/labor unions – most of which support a cap-and-trade system. He is also part of the Financial Services Committee, which I also question…
Contributions in 2008:
PEPCO Holdings, Inc. ~ $2.5K
Koch Industries (supported by EPA) ~ $1K
Operating Engineers Union ~ $5K
Other AFL-CIO Unions ~ $8.5K
National Education Assn ~ $10K
SEIU ~ $6K
Financial Institutions ~ $371.9K
League of Conservation Voters & Sierra Club ~ $770
Honeywell International ~ $10K
Contributions in 2010:
The Operating Engineers Union (In ’08 wrote a memo to the senate thanking them for attempting to bring cap-and-trade back) ~ $5K
NRECA (for cap-and-tax) ~ $1K
Heavily Funded by Financial Institutions (kick-backs were put into the cap-and-trade bill for financial companies/mortgages ~ $44.5K
Mark Kirk:
Mark Kirk is on the Appropriations Committee and has been a long-time RINO from Illinois.
Contributions in 2008:
Exelon Corporation (put out press release congratulating the House reps for passing cap-and-trade on Friday). ~ $34.1K
Financial Institutions ~ $136.5K
National Education Assn ~ $19K
Goldman Sachs ~ $15.7K
Honeywell International ~ $5K
League of Conservation Voters ~ $1K
Ocean Champions ~ $4K
Republicans for Environmental Protection ~ $4K
Solar Energy Industries ~ $2K
Peabody Energy(Coal Mining company that thinks Waxman-Markey is cup half full legislation)!? ~ $2.5K
Edison International ~ $2K
Westinghouse Electric ~ $2K
Operating Engineers Union ~ $6K
PMA Lobbying Group (under investigation) ~ $2K
Microsoft Corp. ~ $1.5K
Contributions in 2010:
GE ~ $1K
Honeywell International ~ $1K
Operating Engineers Union ~ $10K
Leonard Lance:
There isn’t much information prior to Mr. Lance’s election in 2008, however, he currently sits on the Financial Services committee.
Contributions in 2010:
League of Conservation Voters ~ $250
Honeywell (believes in cap-and-trade) ~ $1K
Public Service Enterprise Group ~ $1K
National Education Association ~ $1K
Financial Institutions ~ $49.7K
Frank LoBiondo:
Contributions in 2008:
Public Service Enterprise Group ~ $6.5K
Honeywell International ~ $3.5K
Labor Unions ~ $235.8K
Sierra Club/League of Conservation Voters ~ $1.3K
Contributions in 2010:
Labor Unions ~ $53.2K
John McHugh:
Contributions in 2008:
Constellation Energy ~ $10.8K
Honeywell International ~ $10K
Operating Engineers Union ~ $10K
PMA Group ~ $10K
Electric Companies (heavily funded by them incl. Exelon, Edison, FirstEnergy, Progress Energy, etc.) ~ $34K
Environmental Services (MWH Americas) ~ $1K
Labor Unions ~ $133.5K
Contributions in 2010:
Operating Engineers Union ~ $10K
Honeywell International ~ $5K
Labor Unions ~ $11K
Dave Reichert:
Contributions in 2008:
It appears that Dave is an enviro-nut RINO. He was on the Space Committee and receives a lot of funding from Microsoft.
Microsoft ~ $48.2K
National Education Assn ~ $10K
Avista (support cap-and-trade) ~ $1.3K
Puget Sound Energy ~ $7.9K
Financial Institutions ~ $121.5K
Illinois Tool Works gave to Mark Kirk which is understandable but why also to a rep. from Washington state? ~ $2K?
Contributions in 2010:
GE ~ $1K
Honeywell International ~ $3K
Operating Engineers Union ~ $5K
Labor Unions ~ $4.5K
Chris Smith:
Contributions in 2008:
Operating Engineers Union ~ $10K
Laborers Union ~ $10K
National Education Assn ~ $3K
SEIU ~ $5K
Other Labor Unions ~ $92K
League of Conservation Voters ~ $250
Contributions in 2010:
Operating Engineers Union ~ $10K
Other Labor Unions ~ $13K
The Washington Examiner had a brief article on some of the campaign contributions that various members of the GOP 8 were a part of, many of which are already captures here – but as a source you can go here.
I believe there is a lot more investigation that will need to be done in order to fully grasp what these 8 were promised from Waxman and Pelosi, rather than just reviewing their campaign contributions. I also have suspicions regarding the New Jersey 3 as to where many of these green companies and technologies reside. New Jersey has its very own clean energy initiatives/policies for its state and a long list of companies who are involved.
I hope we can get to the bottom of it and find out what it takes to sell out your party, your constituents, but worst of all; your country.
The GOP Cap-And-Tr8tors
The country was sold into government slavery and economic chaos by the traitorous GOP 8, who voted for the Cap and Tax bill today. The House spent over 5 hours debating this piece of legislation and there were high hopes that the Democrats didn’t have enough votes to pass it. It turns out that the GOP had some Benedict Arnold’s in their midst.
I have two new posters for these RINOs:
(created by Leo Alberti via Michelle Malkin)
(H/T FReeper Tophat9000)
If these 8 traitors had voted against the bill the final vote would have been 211 ayes vs. 220 nays, rather than 219 ayes vs. 212 nays. Jeff Flake was MIA for his daughter’s beauty pageant and Rep. Sullivan was in rehab.
There were also 44 Democrats who voted against this nightmare:
PA-4 Altmire, Jason
NY-24 Arcuri, Michael
GA-12 Barrow, John
AR-1 Berry, Robert
OK-2 Boren, Dan
AL-2 Bright, Bobby
PA-10 Carney, Christopher
MS-1 Childers, Travis
CA-20 Costa, Jim
IL-12 Costello, Jerry
PA-3 Dahlkemper, Kathleen
AL-7 Davis, Artur
TN-4 Davis, Lincoln
OR-4 DeFazio, Peter
IN-2 Donnelly, Joe
TX-17 Edwards, Thomas
IN-8 Ellsworth, Brad
IL-14 Foster, Bill
AL-5 Griffith, Parker
SD-0 Herseth Sandlin, Stephanie
PA-17 Holden, Tim
AZ-1 Kirkpatrick, Ann
NC-8 Kissell, Larry
OH-10 Kucinich, Dennis
GA-8 Marshall, James
NY-29 Massa, Eric
UT-2 Matheson, Jim
NC-7 McIntyre, Mike
LA-3 Melancon, Charles
ID-1 Minnick, Walter
AZ-5 Mitchell, Harry
WV-1 Mollohan, Alan
VA-2 Nye, Glenn
TX-27 Ortiz, Solomon
ND-0 Pomeroy, Earl
WV-3 Rahall, Nick
TX-23 Rodriguez, Ciro
AR-4 Ross, Mike
CO-3 Salazar, John
CA-13 Stark, Fortney
TN-8 Tanner, John
MS-4 Taylor, Gene
IN-1 Visclosky, Peter
OH-6 Wilson, Charles
To see the entire Roll Call Vote visit here.
I want to know what each traitor was offered to sell us out and I’m very curious to figure out the money trail in New Jersey, which has a huge clean energy program as well as various renewable energy sources. Even Rohrabacher R-CA didn’t vote for the bill even though Clean Energy Fuels Corp. (the company that T. Boone Pickens and Pelosi are vested in) is headquartered in his district (46).
It would have been nice if the media actually did its job and discussed real news that has a massive effect on the lives of Americans, rather than Michael Jackson’s obvious drug use and death. Most Americans are opposed to this legislation, but many were unaware that Congress was voting on it today – Wouldn’t it be nice if we could one day have an objective media that would actually give both sides to every story and read things like the suppressed EPA report on GloBull Warming? It’s late, so I can dream about it…
