He is succeeding in getting bi partisan support for his bill to audit The Fed and to limit its power while Obama wants to give The Fed even more power with less oversight.
It is time we, the American people, begin to examine our political system. We must dissect it down to the very basis - The Constitution. Somewhere along the line, either by design or by complacency of the people, the basic principals of The Constitution have been overridden thus changing our democracy and country.
Obama said he was a candidate of the people during his campaign. Yet his actions do not bear this out. What happened? What changes when you take residency in the White House? Whatever it is, it transcends both major political parties.
Watch and Listen.
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A whole different nightmare for families:
ReplyDeleteTreasury: No Further HAMP Extensions
The administration last month gave borrowers who were current on their payments after at least three months an extension until Jan. 31 to provide needed paperwork. But the administration doesn't plan to extend that deadline, Assistant Treasury Secretary Michael Barr said Friday.
"We are going to have further guidance for [mortgage] servicers at the end of the month," he said.
http://tinyurl.com/yh4n9k4
Editorial
ReplyDeleteThe Show Must Not Go On
Published: January 16, 2010
The commission must uncover what bankers, investors, government officials and other people in positions of power, past and present, would prefer not to say — or perhaps do not know or understand — about the crash and the bailouts. The primary aim is not to air issues and foster debate, but to test views, resolve contradictions and arrive at evidence-based conclusions.
Yet the commission — which is supposed to file a final report by Dec. 15 — has not issued a single subpoena for documents. Instead, investigators have apparently been relying on voluntary cooperation, public records and information-sharing agreements that have been negotiated with federal agencies. A thorough investigation requires source documents that reveal what people were thinking and doing at the time of the events and that illuminate, buttress or contradict testimony.
http://tinyurl.com/yass8t6
7 Lies In Under 2 Minutes
ReplyDeletehttp://tinyurl.com/yj3t4c4
The Big Lies Just Keep Coming
ReplyDeleteObama's Latest Ruse: the Bank Tax
None of Obama’s faux outrage has been as disingenuous as his Wednesday announcement that he will finally respond sympathetically to the public’s deep resentment of the administration’s tolerance -and therefore encouragement- of the bad guys’ looting of the public treasury.
Obama assured his constituents that he would “recoup every last penny for American taxpayers” by taking back, in the form of taxes on the banks, the wealth that households have been forced to transfer to the coffers of the instigators of the financial crisis.
The announcement was timed to offset what will surely be another surge of public anger at the expected announcement this week of the banks’ year-end bonus payments.
http://tinyurl.com/yj82879
Obama’s “Get Tough on Banks” Again Tries to Play the Public for Fools
ReplyDeleteBut more is that FDR from the very outset set himself up as an opponent of rule by the banking classes. He depicts them as failures and calls them unscrupulous and selfish. By contrast, have were ever heard Obama even hint that bankers were less than ethical? Let’s see, last December, he called them “fat cats“! Ah yes, of course, everyone knows a cat will steal a sardine if you aren’t watching. Yeah, that Obama sure knows how to dress those bankers down!
As we discussed at greater length earlier this week, this new “get our money back” idea is pure three card Monte. Put the spotlight on the TARP so everyone will ignore all the other massive subsidies that the banks have gotten, continue to receive, and are abusing. Those who claim many banks have “paid back the TARP” are missing (more likely choosing to obfuscate) the point: the TARP calculus grossly understates of the gives and the gets here (although as we have said before and will say again, Obama’s focus on the TARP is pure political expediency).
But this time, the Fed supports are far less covert (kinda hard to miss the ballooning of its balance sheet) and the banks are being pigs and undermining the purpose of this operation by skimming way too much off in employee pay. But it certainly appears no one has called the bankers into a private meeting and threatened them (and the regulators do hold the whip hand, even if they have been brainwashed into not recognizing that). Bernanke seems unable to see how his whole market manipulation program has been repurposed by the industry into welfare for the rich.
More important, despite the firms’ claims otherwise, >they are now effectively backstopped by the government, and they know it. They should be paying insurance premiums, NOW, hefty ones, for being beneficiaries of the “No more Lehmans” policy. But there is no desire for anything remotely resembling a full accounting from the crew in the Administration.
http://tinyurl.com/yegwbpb