I Want Some Tarp (Video)

This is a great video/catch diddy from Bill Zucker find him on twitter @billzucker

President Bush, Integrity; Barack Obama, Floppy Fish

If there was one thing you could always say about President Bush, it is that he always stood on his principles and values.  He had an enormous amount of integrity and did not compromise any of those things for political expediency.   He firmly believed every move and decision he made was based on what was best for the American people.  He did not rely on polling data or popularity statistics.  President Bush’s firmly held beliefs in a post 9/11 world are what guided him.

Now President Obama, on the other hand, stands on his teleprompter.  As he has “navigated” his way through the first 100 days in the Oval Office, we have yet to really see the characteristics of integrity or doing what is right by the American People.   At least two of his cabinet members should have been tossed; Turbo Tax Tim Geithner and Secretary Napolitano, both of whom have embarrassed the Oval Office and outraged the American people.  If he really stood on principle and integrity they would have been gone.

President Obama showed signs of this early in the election cycle when he said he would accept public financing of the campaign, but when the primary season was over and he was the nominee, he opted out of the system and continued to collect just shy of 3/4 of a billion dollars, most of which is untraceable.  That in itself goes against the Open Government Act by fully disclosing all donors.

President Bush walked his talk after the campaign.  He worked with the Democratic leadership, showing bipartisanship on the budget, FISA, immigration and other issues.  The only thing he would not compromise on (thank goodness) was a troop withdrawal time table.  Democrats tried in vain to force his hand as the Obama backing MSM flooded the evening news night after night with each road side bomb image they could find.  Very little attention was paid to the success we were having, only the carnage.  This unwavering stance against a timed withdrawal was significant because he did not want give the emboldened insurgency a window in which to “wait it out”, and to prevent these politicians from micromanaging commanders in the field.  True, there was pressures to change strategies in order to combat this issue, and the administration did just that; they initiated the “surge”.  And guess what, it worked!  Now Mr. Obama on the other hand has shown about as much bipartisanship as Iran has shown cooperation with the UN….Uh that would be none!  The GOP has been completely shut out of the administration, being told to basically shut up and sit down because “we” (the Dems) won.  So much for a new era of cooperation and open government.

What people fail to realize in Iraq, is that not only did we rid the world of a very evil dictator, who’s atrocities are well documented (so in fact there is you weapon of mass destruction), shut down Dr. Germ Rihab Taha (who was identified by UN weapon inspectors specifically), the mission also brought stability to the region as a whole.

If you look back, Moamar Kadafi quickly and quietly ended their rebellious ways and cracked down on terrorists in Libya.  Syria also became much more user friendly, and cooperative.  So there were broader positive effects.

Mr. Obama who was not a Senator when the Congress initially authorized action in Iraq, on the campaign trail he waved the “No More War” flag like the checker flag at the end of a car race.  The election was soundly anti-Bush, and all the rhetoric that goes with that.  ‘When he is elected president, we will be out of Iraq in 16 months at the most. There should be no confusion about that’.

Well as you all know, the mission (and I am not complaining about this) remains on target and is, in fact, in a winding down phase.  We have consolidated much of our operations to specific areas in Iraq, handed over control and security operations to the Iraqi Army and Police force in many areas, continue to train and equip those forces so when we do leave, there will be stability and peace inside the borders.  Mr. Obama’s rhetoric got him into the White House, but the reality of the situation on the ground in Iraq dictated his actions.  And if the people who were so hell bent on completely ditching the quote “Bush Doctrine” (as Charlie Gibson tried to nail Sarah Palin with) they would have realized that this notion of up and run out of Iraq was not plausible in the least.

President Bush was thrust into a situation that day in September, unbeknown to America or our intelligence agencies.  We went from a 20 plus year time of relative peace and suddenly thrust into war, against an enemy that does not belong to a nation or state, but operates in the shadows among innocent people whom they will sacrifice without any hesitation.  Yes, mistakes were made.  But this nation was kept safe, and still is, by those policies President Bush put into place.

Now we have a floppy fish in the White House.  Yes he was thrust into an economic situation that has not been pretty.  However, Mr. Teleprompter as not shown us anything except he is bent on a socialistic agenda and that he changes his word like we change underwear.

Now Mr. Obama wants to openly (yes there is that word open again) and without preconditions, have talks with these nations that simply hate the United States.  Iran, who is pursuing nuclear weapons and calling for the destruction of Israel,  North Korea, who has nuclear material but can not build a delivery vehicle,  Venezuela, who just yesterday seized American Owned and Operated energy sites and equipment, and Cuba, where money can now flow freely without using a 3rd and 4th party intermediary.  Oh yes lets not forget Mexico.  Yet, another apology from Mr. Obama and Secretary Clinton for causing the drug war along the boarder.

Mr. Obama and his economic team have showered the coffers with billions and billions of dollars in order to prop up the economy.  Thus far, nothing.  New jobless filings hover around 600K and overall, 6.5 million people are out of work, and counting.  Now that Chrysler and GM are making significant cuts, that is going to go up more this year. Not only does that effect line workers in the auto plants, but spills out to the suppliers and peripheral businesses that support them.

Mr. Obama, first week in office broke the most basic of his campaign pledges, saying that the practice of earmarks and pork spending would immediately come to and end.  Say what?  The first two things he signs into law are pork laden wasteful bills that did nothing.  The Stimulus package, which failed to stimulate the American people, was shoved through the congress by the new Dem Majority in the middle of the night in which no one was even able to read.  And what was in there (Mr.  Dodd)?  Bonuses for the executives at AIG, Fannie Mae, and Freddie Mac!!!  Next he signed an Omnibus bill that contained over 9000 earmarks, again pushed through on a Dem freight train in the middle of the night.

Now the administration continues to politicize national security doctrine as the administration stammers on what our evil interrogators did to terror suspects.  This emboldens the enemy, teaches them our techniques so now they can prepare for what little we actually do.   The September 10th mentality of the administration puts us in jeopardy. Many of the policies that Mr. Obama so vehemently touted against remain in effect. The naval prison at Guantanamo Bay was ordered closed yet remains open as Obama plans where to send its inmates; the president has yet to establish a coherent policy on Iran — following in the Bush administration’s footsteps and while American troops are being removed from Iraq, most will stay in place until 2010.

It is important to note that all the enhanced interrogation tactics that we used actually yielded crucially important intelligence that helped keep this country safe,”  with the eight years of safety on the home front since Sept. 11, 2001.  Even though congressional leaders claimed to be left out of the loop on these techniques, it was revealed that the same Dem leaders, who bewitched President Bush, were duly informed of those methods.  But as Dems, true to color, they pretended to take the moral high road, and were thus outed as hypocrites using this issue for political expediency.
Obama’s own Director of National Intelligence, Dennis Blair, wrote an internal memo last week citing the “high value” information about Al Qaeda’s operations yielded by tactics such as water boarding, but its morality has been called into question by human rights monitors and many others both in and out of the Obama administration.

So therein lays the conflict with this administration. Integrity, direction, political expediency, governing by polling data, and letting Nancy Pelosi write its budget a mere 3 Trillion and some change.
So we as Americans have to wonder, where the transparency, openness, and new era of cooperation is.  Yeah, that is right, so sorry, we lost.

GE Took Gov Aid Money, but Immelt Won’t Cut the Fat

As GE Stocks continue to hover at historic lows, GE announced that it is launching a new medical development program called ‘Healthymagination’ at a cost of about 6 billion dollars.   One of the main objectives of the program is to assist the Obama Administration’s goal of digitizing everyone’s medical records for instant access.

In their announcement, GE said it will draw upon its divisions to include GE Capitol and NBC Universal, both of which are losing entities in the GE brand name.

Now in order to counteract these losses GE has received money and guarantees from the government :

GE Chairman and CEO of General Electric, Jeffry Immelt, not only secured FDIC debt coverage on up to $139.0 billion in bonds outstanding as of Sept. 30, that mature by June 30, GE also tapped the Federal Reserves commercial paper funding facility for almost $5.0 billion in late October. GE became a bank holding company in order to qualify for TARP funds. Shares of GE Stock fell about 4.5% for the week ending 8 May 09.

Tom Daschel, the Health and Human Services nominee who withdrew because of tax trouble, is serving on the GE Healthymagination advisory board. As you may recall, this was Barack Obama’s first choice for the HHS post. So where is the conflict of interest alarms? Why was Vice President Cheney run up and down flag poles for being on the board of Halliburton prior to becoming VP?  Where are the alarmists who screamed bloody murder about President Bush and Exxon? Tom Daschle has Mr Obama’s ear, and this venture represents a huge steak in his health care initiative. It once again proves beyond a reasonable doubt that transparency among administration officials is as clear as Mississippi River water.

GE Capitol in 2008 experienced 7.2 billion in credit losses alone. Combine that with the unprofitable entities of NBC (MSNBC, and CNBC) and you begin to get the picture that GE is not very healthy under Mr. Immelt. In what was once a healthy company with share prices hovering around $50.00, the company now stands to lose its credit rating of AAA and Investment rating from stable to risky.

NBC Studios, MSNBC, CNBC, are currently all rating losers. So why does GE not shed the fat?  Because they stood in line behind the Obama Campaign, and thus are not being treated like Chrysler and GM?  No change at the top for GE (which in Chrysler’s Case, was for pure political expediency) and no forfeiture of unprofitable divisions? As it stands, NBC Studios will develop, produce and air, segments related to this initiative and MSNBC will air a new health related program for Healthymagination. Why are there no salary cap instructions for NBC talking heads like Brockaw, Matthews, or Olbermann? Oh, yeah, they were the only ones who got tingly feelings up and down their legs at the mere mention of Mr Obama.

But again the question is, where does all this money come from, and can GE, who has lost share value and siphoning money to GE Capital, afford 6 Billion dollars?   We have to wonder about the potential huge ethical questions here as Barack Obama owes NBC for all of their unwaivering support, and GE’s push into Mr Obamas healthcare initiatives.  How much of the bill is the taxpayer going to be responsible for?

Bailout To Cost Taxpayers $167B More Than Anticipated

WASHINGTON — Bailing out the financial sector will cost taxpayers $167 billion more than originally anticipated, according to a Congressional Budget Office estimate. The original figure in January was $189 billion, but it is now $356 billion — $152 billion more for 2009 and $15 billion more next year, the CBO says in its March report updating the budget and economic outlook.

The CBO raised its projection because yields have increased on securities issued by the bailed-out financial institutions under the $700 billion Troubled Asset Relief Program. That means there will be an increase in the cost of the subsidy from the U.S. Treasury’s purchase of preferred stock, asset guarantees and loans to automakers, the CBO said.

Bailing out Fannie Mae and Freddie Mac _ the two mortage finance giants taken over by the government in September _ will cost another $52 billion this year alone, and an additional $28 billion for their activities from 2010 to 2019, says the CBO.

Fannie Mae and Freddie Mac plunged into the purchase of risky mortgages, becoming two of the major contributors to the housing market’s collapse and the ensuing global financial crisis.

Click here for full story.

Fannie Mae and Freddie Mac to pay $210M in Bonuses.

Mortgage finance giants Fannie Mae and Freddie Mac plan to pay more than $210 million in bonuses through next year to give workers the incentive to stay in their jobs at the government-controlled companies.

The bonuses for more than 7,600 employees were disclosed in a letter from the companies’ regulator released Friday by Sen. Charles Grassley of Iowa, the senior Republican on the Senate Finance Committee.

“It’s hard to see any common sense in management decisions that award hundreds of millions in bonuses when their organizations lost more than $100 billion in a year,” Grassley said in a statement. “It’s an insult that the bonuses were made with an infusion of cash from taxpayers.”

The two companies, hobbled by skyrocketing loan defaults, were seized by regulators last fall and operate under close federal oversight with new chief executives installed by the government. Since the takeover, Fannie Mae has received $15 billion in federal aid, while Freddie Mac has received nearly $45 billion.

More rational use of taxpayer money. Between these two lending firms, they are about 1/4 responsible for the collapse of the US Economy for lousy management of Mortgage Backed Securities. How does a firm justify “We need these bonuses to keep people in their jobs”? Where are they going to go? Unemployment is over 9% now. I don’t think any of the big NY firms are looking for help right now.

Read More – CBS News.

Next Page »