Government Motors: The Coming General Motors Failure Will Be At Taxpayer’s Expense

March 24, 2011 | Filed Under Banks, Budget, Business, Capitalism, Cities, Congress, Democrats/Leftists, Detroit, Economy/Finances, Financial Reform, Government, Government, Corruption, Liberals, President, Stimulus, Taxes, Warner Todd Huston | 5 Comments

-By Warner Todd Huston

The Obama Administration has proclaimed TARP and the subsequent bailout for General Motors a great success. US Treasury Deputy Timothy Massad recently said, “Where we are today shows that the program, by any reasonably objective measure, was a success.” But is GM, now much derided as “Government Motors” the success that Obama says it is? Facts don’t argue in Obama’s favor.

First of all, we must dispense with the whole idea that a benevolent Obama played sugar daddy to “save” GM and did so without too much meddling with the company. Despite the claims that it is “back” and back in private hands, We The People still own 33% of GM. But government ownership is deeper than the a mere calculated percentage. You see, GM’s Board and its CEO were all placed in their positions by Obama, his czars and advisers. Worse, none of them have any experience at all in the auto industry.

Obama’s GM CEO, Dan Akerson, is not a “car guy” — as he himself admitted. Akerson’s experience is as a Wall Street hedge fund operator not an auto industry exec. He was also a player at the politically connected Carlyle Group and was the firm’s Managing Director.
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House Votes to Defund NPR

March 17, 2011 | Filed Under Banks, Congress, Democrats/Leftists, GOP, Government, Government, Corruption, House of Representatives, Journalism, Liberals, Media, Media Bias, NPR, PBS, Republicans, Senate, Taxes, Warner Todd Huston, Washington D.C. | 1 Comment

-By Warner Todd Huston

On Wednesday morning the GOP led House of Representatives voted to end federal funding for National Public Radio. Saying it made good fiscal sense it is also safe to say that the GOP was catering to its base, a group that has been against funding for NPR for some time.

The bill passed in a 228-192 vote mostly along party lines and will prohibit local NPR stations from using federal funds as well as cut all current funding. This eliminates almost $5 million in federal funding that NPR receives. The bill would not prevent the use of federal funds for producing programs by private firms and individuals…

Read the rest at RightPundits.com.
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VIDEO: Exposing the International Monetary Fund

March 14, 2011 | Filed Under Banks, IMF, Warner Todd Huston | Comments Off

What Do You Think? Gas Prices – Caused by Libya? Boutique Fuels?‏

March 11, 2011 | Filed Under Banks, Budget, Capitalism, Congress, Energy, GOP, Government, Illinois, Illinois State Government, Liberals, Libya, Mark Kirk, Oil, Republicans, Taxes, Warner Todd Huston | Comments Off

From the office of Senator Mark Kirk (R, ILL…

Gasoline prices are up 50 cents per gallon just this month, now averaging $3.65 in Illinois. Why are prices so high?

While much of the price rise is caused by instability in Libya, another cause is an obscure federal rule that mandates little gasoline monopolies in Chicagoland and Metro East, called the “Boutique Fuels Rule.”

The federal government divides the nation’s gasoline market into 17 separate zones, each with their own recipe for gasoline. While we can buy regular gasoline in Peoria, only “N RFG with Ethanol” is available in Chicago and in Metro East, we can only buy “7.2 RVP” gas. If one region runs short, it cannot borrow from another region – is it any wonder that gas costs 10 cents less per gallon in Green Bay?

This map illustrates the isolated pockets of the country where the federal government mandates the use of the complicated boutique fuel rule. This balkanization of fuel distribution leads to supply problems and high prices. Conversely, some say the regulation is necessary for compliance with the Clean Air Act.

Mark Kirk

Good Riddance to Fannie & Freddie

March 2, 2011 | Filed Under Alan Caruba, Banks, Barack Obama, Budget, Business, Capitalism, Congress, Crime, Democrats/Leftists, Economy/Finances, GOP, Government, Government, Corruption, Liberals, President, Taxes | Comments Off

-By Alan Caruba

I have this theory that we, the adults, all function at the emotional level of 13-year-olds, the age of bar mitzvahs in which the young man can declare to the congregation, “Today I am a man.” (Insert laughter here)

They are, of course, not adults and must wait until the ancient age of 18 to vote and 21 to get plastered. At that age, one would think that getting a bank loan to purchase a home would be difficult. Until the housing bubble burst, it wasn’t.

Before the financial collapse of the housing mortgage market in late 2008, some banks were making “Ninja” loans—no income, no job, no assets.

In a recently published book, “How the West was Lost: Fifty Years of Economic Folly—and the Stark Choices Ahead”, internationally acclaimed economist, Dambisa Moyo, delivers the bad news.

Video: Stop Obama and His Union Bosses!

February 25, 2011 | Filed Under Banks, Barack Obama, Campaign Finance, Capitalism, Congress, Conservatives, Democrats/Leftists, Economy/Finances, Financial Reform, GOP, Government, Government, Corruption, House of Representatives, Liberals, Pensions, President, Public Employees Unions, Republicans, RNC, SEIU, Senate, Taxes, Teachers Unions, Unions, Warner Todd Huston | Comments Off

-By Warner Todd Huston

Courtesy of the Republican National Committee…

This is exactly right. While every state is drowning in debt, Barack Obama and the billions that unions have spent on him and his Democrat Party is being put toward thwarting the will of the voters and to making the state’s and the federal government’s debt far, far worse.
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Rahm Emanuel ignores Hard Truth about Freddie Mac

January 22, 2011 | Filed Under Anti-Americanism, Banks, Budget, Business, Capitalism, Cook County, Crime, Democrats/Leftists, Elections, Financial Reform, Gery Chico, Illinois, Illinois State Government, Liberals, Rahm Emanuel, Taxes, Warner Todd Huston | 1 Comment

From the Gery Chico For Chicago Mayor campaign…

Facts suggest Emanuel ignored scandal but mayoral candidate continues to ignore questions

(CHICAGO) Several hours ago, Rahm Emanuel was asked about Gery Chico’s charge that when Emanuel was informed of scandal on the Freddie Mac board, he sat on his hands and took the cash.

Emanuel didn’t deny it. Instead, he said he was never mentioned “by name” in any of the wrongdoing. Here’s the hard truth – Rahm won’t answer the hard questions about Freddie Mac.
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‘Hard Truth’: Emanuel and Freddie Mac

January 19, 2011 | Filed Under Banks, Barack Obama, Capitalism, Cook County, Democrats/Leftists, Gery Chico, Government, Government, Corruption, Illinois, Illinois State Government, Liberals, Rahm Emanuel, Taxes, Warner Todd Huston | Comments Off

Mayoral candidate Gery Chico has some “hard questions” about Rahm Emanuel’s connection to failed financial giant Freddie Mac…

Time for Emanuel to tell “hard truth”

Chico: “Chicago can’t afford a mayor who looks the other way!”

(CHICAGO) With former president Bill Clinton stumping in Chicago for Rahm Emanuel today, mayoral candidate Gery Chico asked Emanuel to tell the truth about his tenure on the Freddie Mac board, to which Clinton appointed Emanuel in 2000. Under Emanuel’s watch, an Enron-type scandal took place costing taxpayers more than half a billion dollars, according to news reports.
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The Deflation Bogeyman

November 13, 2010 | Filed Under Banks, Budget, Business, Capitalism, Democrats/Leftists, Economy/Finances, Financial Reform, Government, Corruption, Jobs, Money, Stimulus, Taxes, Thomas Brewton | Comments Off

-By Thomas E. Brewton

Declining prices are not necessarily bad.

The Fed plans to add massively to the supply of phony money by monetizing the Federal debt with QE2, its latest multi-trillion dollar intervention to manipulate the financial system and to control business production and employment decisions.

The effect, in the short run, is to inflate further the developing stock market bubble, preparing the way for our next inflation-induced recession. In the long run, we the people are to be robbed of the purchasing power of our salaries, wages, and retirement incomes by the disguised tax of inflation.

Fed chairman Bernanke’s Keynesian, socialist rationale for this crime against society is his fear of deflation, a fear belied by prices of commodities that are increasing at an accelerating rate.
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A Break for ‘Mob Banker,’ Feds Releasing Report After Election

October 24, 2010 | Filed Under Alexi Giannoulias, Anti-Americanism, Banks, Chicago, Congress, Democrats/Leftists, Elections, Government, Government, Corruption, Illinois State Government, Liberals, President, Senate, Warner Todd Huston | Comments Off

-By Warner Todd Huston

It must be nice to be an Obama insider like Democrat Senate candidate Alexi “The Mob Banker” Giannoulias is. Obama’s FDIC is obviously in his corner, it seems. After all, the FDIC decided to wait until after the election is over to release its report on the failure of Giannoulias’s family bank.

So, Giannoulias might possibly be safely elected to the Senate before the results of any embarrassing investigations into his culpability for the bank failure are released.

Yep, must be nice to have basketball partners in high places.
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Illinois GOP Send ‘Shark’ to Spoof Alexi for Loans to Mobster ‘Jaws’ Giorango

October 21, 2010 | Filed Under Alexi Giannoulias, Banks, Chicago, Crime, Democrats/Leftists, Elections, Ethics, GOP, Government, Government, Corruption, Illinois, Liberals, Mark Kirk, Republicans, Senate, Warner Todd Huston | Comments Off

Great political theater.

The Illinois GOP sent a guy dressed as a shark to dog Democrat Senate candidate Alexi “Mob Banker” Giannoulias. When Giannoulias was working for the Broadway Bank he loaned millions to mobster Michael “Jaws” Giorango. Naturally the mobster never paid it all back.

Hard to Believe That Alexi Giannoulias ‘Didn’t Know’ Of Mobster’s Crimes

October 13, 2010 | Filed Under Alexi Giannoulias, Banks, Chicago, Crime, Democrats/Leftists, Elections, GOP, Government, Government, Corruption, Illinois, Illinois State Government, Liberals, Mark Kirk, Senate, Warner Todd Huston | Comments Off

-By Warner Todd Huston

Alexi Giannoulias is well known as the “Mob Banker” for the fact that his family bank lent $20 million to two mobsters while Alexi was an officer of the bank. The Illinois Democrat’s Senate candidate has finally answered to this loan a bit more directly than he has in the past and his answer is simply a bit hard to take.

On NBC’s Meet The Press on Sunday, October 10, Giannoulias uttered the laughable claim that he “didn’t know the extent” of the criminal activities of his mobster borrowers at the Broadway Bank.

This is a bit hard to take. Giannoulias seemed to act as if the two mobster’s activities were not as well known in 2005 as they really were at the time his bank gave these ne’er-do-wells multiple loans. Both Michael “Jaws” Giorango and his pal Demitri Stavropoulos were well known criminals by the time they were being served at Broadway Bank.
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Fact Checking Rep. Foster’s Lies

October 9, 2010 | Filed Under Banks, Budget, Capitalism, Congress, Democrats/Leftists, DuPage County, Economy/Finances, Elections, GOP, Government, Government, Corruption, House of Representatives, Illinois, Illinois State Government, Jobs, Kane County, Liberals, Randy Hultgren, Republicans, Taxes, Warner Todd Huston | Comments Off

From the Hultgren for Congress campaign (14th District)…

With election day only four weeks away, Congressman Foster has grown increasingly desperate in his attempts to draw voter attention away from his abhorrent record.

Think about it, what else does Bill Foster have to run on? What possible reason would the voters of the 14th District have to re-elect him?

His lock-step voting record with Nancy Pelosi 92.6% of the time?
His support for the Wall Street bailout?
His support for the government takeover of health care?
His support of the failed stimulus that failed to keep unemployment below 8%?
His support for every single spending bill coming out of Congress?
His support for the upcoming tax increases that Congress has failed to prevent?

Alexi Tells Voters He Was No Banker, But Claims to IRS He Was

September 30, 2010 | Filed Under Alexi Giannoulias, Banks, Budget, Congress, Democrats/Leftists, Elections, Government, Government, Corruption, Illinois, Illinois State Government, Liberals, Senate, Taxes, Warner Todd Huston | Comments Off

-By Warner Todd Huston

It’s almost like a bad Riddler quip from TVs Adam West Batman show: When is a banker not a banker? Well, apparently the Illinois Democrat candidate for Senate, Alexi “the Mob Banker” Giannoulias, is trying his hand at the riddle. He’s constantly told the voters that he was not employed by his family bank during the year that it met so much trouble, yet on his tax returns Alexi took deductions for his bank work during that same year.

So when IS a banker not a banker? Apparently when he’s trying to run for Senate and get out from under the mess his bank ended up in.

Giannoulias has claimed that he had left his family bank in 2005. But as the Chicago Tribune reports, “Giannoulias was able to take a $2.7 million tax deduction last year because he reported working hundreds of hours at Broadway Bank in 2006.”
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On Those Bill Foster Ads Slamming Hultgren? Hultgren Says ‘Not True’

September 25, 2010 | Filed Under Banks, Business, Capitalism, Congress, Democrats/Leftists, DuPage County, Elections, GOP, Government, Government, Corruption, House of Representatives, Illinois, Illinois State Government, Kane County, Liberals, Randy Hultgren, Republicans, Taxes, Warner Todd Huston | Comments Off

From the Hultgren for Congress campaign (14th District)…

St. Charles – State Senator Randy Hultgren, candidate for the U.S. House of Representatives IL-14, today responded to deceptive ads paid for by Congressman Bill Foster, D-Batavia.

“Bill Foster’s allegations against me are not true,” said Hultgren. “Bill Foster hopes with his millions of campaign dollars, that he can fool you into believing his lies.”

“Democrat Bill Foster is lying in a calculated gamble to hide his atrocious record of support of Nancy Pelosi 92.6% of the time including government bailouts, higher taxes, massive spending increases and a health care overhaul,” said Hultgren.[1] “If Foster can stay off the issues through lying about my employment, he is able to avoid his miserable record as a Congressman.”

http://hultgrenforcongress.com/

Feels Like a Depression to Me

September 13, 2010 | Filed Under Alan Caruba, Banks, Budget, Business, Capitalism, Congress, Democrats/Leftists, Economy/Finances, Government, Government, Corruption, History, Jobs, Taxes, The Great Depression, Unemployment | Comments Off

-By Alan Caruba

Between the time that George Washington took the first oath of office as president and when Barack Obama did—1789 to 2009, the United States had borrowed nine trillion dollars. Since Obama took office, it has borrowed or imposed nearly three trillion more debt. Tell me he is not deliberately seeking to bankrupt the nation.

In an August 28 Wall Street Journal editorial it noted that “To no one’s surprise except Vice President Joe Biden’s, second quarter economic growth was revised down yesterday to 1.6% from the prior estimate of growth of 2.4% which was down from first quarter growth of 3.7%, which was down from the 2009 fourth quarter’s 5%. Economic recoveries are supposed to go in the other direction.”

I was born during the Great Depression of the 1930s and have lived long enough now to find myself in a new one. There are similarities between the two, but the first one led to the creation of a variety of government regulatory entities and programs that should have avoided or at least were expected put the brakes on the current one.
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Credit Card ‘Reform’ Will Force All Credit Purchases to Exceed $10

September 6, 2010 | Filed Under Banks, Barack Obama, Budget, Capitalism, Congress, Credit Cards, Democrats/Leftists, Economy/Finances, Elections, Financial Reform, Government, Government, Corruption, Liberals, Money, Politicians, Senate, Warner Todd Huston | Comments Off

-By Warner Todd Huston

Previous to the current meddling by Congress, stores were technically not allowed to require a minimum purchase for credit cards. If you wanted to charge ten cents or ten dollars merchants were supposed to accept the charge. But the Durbin Amendment (Sen. Dick Durbin, D of Ill.) to the credit card “reform” bill passed by Congress will change all that by allowing stores to set a minimum charge amount of $10 before you are allowed to use your credit card to purchase something.

This is just one more way that Congress is reaching into your pocket and taking your money. It is easy to realize that millions of people, when told they have to spend $10 to use a credit card, will charge to the minimum despite what they really intended to buy. It’s an obvious and unseen tax, in essence. It will become a common sight at cash registers when someone gets a bill of $6 or $7 rung up, a credit card will be brought out, the cashier will tell them of the new minimum charge rule, and the consumer will grab a few candy bars or some other nearby item to push the charge over that $10 minimum. This will be money spent that wasn’t intended to be spent but it will happen a lot from here on out.
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Chicago’s ShoreBank morphs into Urban Partnership Bank to continue its progressive Green Agenda using FDIC funds

August 31, 2010 | Filed Under Ann "Babe" Huggett, Banks, Budget, Crime, Democrats/Leftists, Economy/Finances, Government, Government, Corruption, Illinois, Liberals, President, Taxes | Comments Off

-By Ann “Babe” Huggett

Chicago’s ShoreBank, known as the “Clintons’ favorite bank” and with close ties to the Obama Administration, which allegedly pushed Goldman Sachs and Citibank to underwrite it using $135 million of their TARP funds even as it reported losses, failed on August 20th but immediately reorganized itself as Urban Partnership Bank. Upon the reorganization, the Federal Deposit Insurance Corporation (FDIC) quickly handed over $367.7 million to keep the newly renamed bank’s doors open.

Earlier in the year, the Illinois Financial Authority’s chairman, Bill Brandt, ignoring pressure from Democratic Sen. Dick Durbin and U.S. Rep. Jan Schakowsky to bail out ShoreBank and its toxic assets, literally passed the buck to the Feds when he hinted at potential political fallout and/or actual physical street violence if ShoreBank, whose executives were neighbors of the Obamas in Chicago, was not bailed out by the US Treasury.
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Upper Middle Class Now Seeing Higher Foreclosures in Cook County

August 15, 2010 | Filed Under Banks, Budget, Capitalism, Chicago, Cook County, Democrats/Leftists, Economy/Finances, Government, Government, Corruption, President, Taxes, Warner Todd Huston | Comments Off

-By Warner Todd Huston

As the housing bubble began to burst the lower middle class and poor areas of Cook County were immediately hit with mounting foreclosures. But now the upper middle class is seeing a higher rate. This only stands to logic.

As the Obama depression widens, as home prices stay in a slump, and as more and more people lose their jobs it makes sense that the upper middle classes are beginning only now to lose their homes at a higher rate than before. After all, these people have been likely living off savings they had that the lower classes and poor didn’t have to tide them over. But now those savings are being depleted. That and the job losses are reaching up into their income brackets and status.

What all this shows is that the Obama economy is still in horrid shape and getting worse.

The Daily Herald has all the stats in its recent, disheartening article from August 15.

And if you are one of those home owners facing foreclosure or financial troubles, there is a Cook County program that might help.

The program, which got $3.5 million from the county board, is open to county residents who have received a foreclosure summons from the Cook County Court and live in a single-family home, single-family condo or apartment building with four or fewer units. There are no income restrictions.

Those who are eligible can call (877) 895-2444 or use the new web features on cookcountyforeclosurehelp.org to set up an appointment with a housing counselor.

Hilarious: Lefty Threatens to Sue Illinois Political Blog

August 13, 2010 | Filed Under Banks, Budget, Crime, Democrats/Leftists, Economy/Finances, Elections, Government, Government, Corruption, Illinois, Illinois State Government, Taxes, Warner Todd Huston | Comments Off

-By Warner Todd Huston

This is pretty funny… well, not so funny if you are The Illinois Review, one of our fine political news blogs in Illinois. Apparently billionaire Nadhmi Auchi has sent a threatening letter to the blog demanding that they delete an August 9 post linking Auchi to Democrat Senate candidate Alexi “the Mob Banker” Giannoulias.

The letter issued by attorneys Carter-Ruck demands that the August 9 piece be removed due to “defamatory and untrue allegations.” The letter also says that Carter-Ruck thinks that the source for the blog post was the Observer (of London) and the New York Times.

Apparently the nitwits at Carter-Ruck didn’t actually READ the post in question, however. The actually source for the blog post is clearly featured at the top of the body copy. Any fool can see that the blog post came “from the IL GOP,” as is noted on the actual post itself. This is a press release from the Illinois Republican Party, not an Illinois Review authored piece.
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The Era of Obama: Clorox Co. Loses Net Income to Taxes?

August 4, 2010 | Filed Under Banks, Barack Obama, Budget, Business, Capitalism, Democrats/Leftists, Free Trade, Government, Government, Corruption, Liberals, President, Taxes, Warner Todd Huston | Comments Off

-By Warner Todd Huston

In a harbinger of profit statements to come, Clorox Co. — maker of numerous household cleaning products — reports that it’s net income was nearly flat despite a one percent rise in revenue.

The reason? Taxes.

Clorox Co. says its fourth-quarter net income was nearly flat, even though its revenue rose one percent, because it paid higher taxes and had smaller margins.

The laundry giant said that it earned $171 million in the last three months and had revenue of $1.52 billion last quarter. Clorox also reports that it expects to earn enough to keep in line with estimates.

So, sales have not been hurt by this recession for Clorox Co., at least. That is a good thing. But that its tax burden went up so much as to flatten its net income is unconscionable.

Businesses are in business to make money not forever break even. Breaking even is no incentive to push for higher achievement and invites sloth and eventual disinterest.

Without innovation and a return on the effort our economy will stagnate even further. As that happens tax receipts fall.

Obama is playing a dangerous game with our economy, folks. It’s one we are all bound to lose.
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Corruption Is Good, In the Right Hands

August 3, 2010 | Filed Under Anti-Americanism, Banks, Barack Obama, Budget, Business, Capitalism, Democrats/Leftists, Economy/Finances, Elections, Free Trade, Government, Government, Corruption, John Armor, Liberals, President, Taxes | Comments Off

-By John Armor

I listened to every word of President Obama’s statement on signing the financial institutions’ “reform” law, Wednesday morning. This was a filthy job, but somebody had to do it. The longest applause during the entire charade was when Obama thanked Rep. Barney Frank and Sen. Christopher Dodd for their “tireless work” in getting this bill passed.

Now, class, let’s conduct a brief review. First, not every Act that contains the word “reform” actually reforms or improves anything. As your grandma used to say, “Just because the cat has kittens in the oven, doesn’t make them biscuits.”

Second, this “reform” law doesn’t lay a finger on the two federal lending corporations, Fannie Mae and Freddie Mac, which were at the heart of the phony financial instruments which nearly crippled the national economy. Why would they, of all institutions, be left out?
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Democrat ‘Mob Banker’s’ Bank Loaned $23 Mil to Tony Rezko

August 2, 2010 | Filed Under Alexi Giannoulias, Banks, Chicago, Cook County, Democrats/Leftists, Economy/Finances, Elections, Government, Government, Corruption, Illinois, Illinois State Government, Senate, Warner Todd Huston | 1 Comment

-By Warner Todd Huston

Tony Rezko has been at the root of many of Illinois’ worst cases of government corruption and influence peddling with ties that go back decades. He’s been tied to President Obama, indicted Governor Rod Blagojevich, and now Senate Democrat candidate Alexi Giannoulias whose family bank loaned the crook almost $23 million.

Worse, the Giannoulias family bank made the loan to Tony Rezko’s development group long after he’d become “politically radioactive,” as the Chicago Sun-Times puts it.
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Heartland Institute Luncheon: This Recession Caused By Over-Regulation Not Market Failure

July 30, 2010 | Filed Under Banks, Barack Obama, Budget, Business, Capitalism, Chicago, Conservatives, Economy/Finances, Franklin Deleno Roosevelt, Free Trade, Government, Government, Corruption, History, Liberals, President, Regulation, Taxes, The Heartland Institute, Uncategorized, Warner Todd Huston, WWI, WWII | 3 Comments

-By Warner Todd Huston

I just returned from a nice little luncheon given by the Heartland Institute (www.heartland.org) in beautiful downtown Chicago, Illinois. The purpose of the gathering of free-market supporters and like-minded individuals was to celebrate the life’s work of famed economist and Nobel Prize winner Milton Friedman.

The principal speaker was Richard H. Timberlake*, student and friend of the celebrated economist and an accomplished free-market economist in his own right.

I’ve done several such events for some of the conservative think tanks and state policy groups in the Windy City and I enjoy these events in Chicago because I always get the uneasy feeling that our little conclave of right-thinking fellows well met is the last vestige of civilization and that we are putting on the timbers to secure the gates as the barbarians mount their attack. The barbarians of which I speak are, of course, the city full of Democrats and socialists that looms on all sides surrounding our little events.
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Financial Reform? More Like Union Giveaways!

July 16, 2010 | Filed Under Banks, Barack Obama, Budget, Business, Capitalism, Congress, Democrats/Leftists, Economy/Finances, Elections, Government, Government, Corruption, Liberals, President, Regulation, Taxes, Warner Todd Huston | Comments Off

-By Warner Todd Huston

On Thursday the Senate passed the Democrat’s financial reform bill. But even as Obama claims that this bill will “solve” the financial crisis, a look at the thing seems to prove that things financial took a back seat to giveaways to Obama’s union pals and sops to many of the Democrat’s other special interest friends.

The main union payback is the provision to allow unions and environut groups the ability to take control of the boardrooms of corporations in which they own stock through the so-called “proxy access” provision. This provision has been widely panned by the U.S. Chamber of Commerce and other business groups.

The Washington Times reports that there are other sops to Democrat special interests in this “financial reform” bill, too.
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Why Do Fannie And Freddie Execs Make More Than our Generals?

June 10, 2010 | Filed Under Banks, Barney Frank, Budget, Business, Capitalism, Congress, Democracy, Democrats/Leftists, Economy/Finances, Elections, GOP, Government, Government, Corruption, House of Representatives, Liberals, Peter Roskam, Republicans, Taxes, Warner Todd Huston | Comments Off

-By Warner Todd Huston

Representative Peter Roskam tries to offer an amendment that makes sure that the executives of Fannie Mae and Freddie Mac don’t make more money than the Chairman of the Joint Chiefs of Staff.

Naturally the Democrats would rather pay millions to the executives that are still running Freddie and Fannie into the ground than accept even this small measure of agreement between parties. The leftists keep bawling for bi-partisanship, yet won’t even agree with the smallest of bi-partisan measures.

Democrats don’t want “bi-partisanship.” They want total control and their voters are fools to imagine anything else.
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Wrong Again

June 8, 2010 | Filed Under Banks, Budget, Capitalism, Chuck Schumer, Congress, Constitution, Democrats/Leftists, Economy/Finances, Free Trade, Government, Corruption, Senate, Stimulus, Taxes, Thomas Brewton | Comments Off

-By Thomas E. Brewton

Senator Charles Schumer is either an economic ignoramus, or he is just performing the usual Democrat/Socialist Party obeisance to the welfare state and labor union extortion.

New York’s Senator Charles Schumer wants to impose a punitive tax on all American companies that employ overseas call centers for customer support.

“English speaking workers, whether they are in Indonesia, Canada, the Philippines, South Africa, are willing to work longer hours for lower wages and as a result Americans lose their jobs,” Schumer said.

How will job creation be improved in the United States by raising businesses’ costs? Will businesses be more able to compete in global markets and protect jobs in the United States? How will consumers be helped when businesses have to raise their prices to cover the new taxes and related costs?
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ShoreBank Rally on Wednesday at Noon‏

June 7, 2010 | Filed Under Banks, Chicago, Cook County, Democrats/Leftists, Economy/Finances, Government, Government, Corruption, Illinois, Illinois State Government, Stimulus, Warner Todd Huston | Comments Off

From Tea Party Patriots Chicago…

We’re holding a rally against the ShoreBank bailout on Wednesday, June 9 at noon outside the downtown location of ShoreBank at 134 N. LaSalle Street, across the street from City Hall. Joel Pollak, candidate for U.S. Congress (IL-9), and Isaac Hayes, candidate for U.S. Congress (IL-2), are scheduled to speak at the rally. We will be handing out fliers to educate the public on the corrupt, politically connected bailout of ShoreBank.

ShoreBank has received $35 million in stimulus funds, $75 million from companies that have received bailout money (Bank of America, Goldman Sachs, GE), and now they’re hoping to receive another $75 million in taxpayer money. ShoreBank provided Rev. Jeremiah Wright and Trinity United Church with a $10 million line of credit – now they need a bailout. We hope this rally can bring attention to this issue and help prevent this looting of our treasury. ShoreBank is attempting to cash-in on their connections with Barack Obama, Jan Schakowsky, Robert Creamer, Dick Durbin, Van Jones and more. At the very least, no taxpayer money should go to ShoreBank until there is a forensic audit of their finances.
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Obama’s House of Cards

June 4, 2010 | Filed Under Alan Caruba, Anti-Americanism, Banks, Barack Obama, Budget, Business, Capitalism, Communism, Congress, Democrats/Leftists, Economy/Finances, Elections, Government, Government, Corruption, House of Representatives, Liberals, President, Senate, Socialism, Stimulus, Taxes | Comments Off

-By Alan Caruba

Ever since polls have been taken there have been presidents who encountered disapproval during their terms in office. Usually history exonerates them to some degree. This is not likely to happen with Barack Obama.

As this is written, a Politico.com polls puts Obama’s job disapproval rating at 46.4% and Congress has a disapproval rate of 72%, a figure matched by Rasmussen Reports. Obama’s disapproval rate according to Rasmussen was 44%.

Polls, we are always told, are “snapshots” of public opinion at a given time, but the polls consistently tell us that the vast majority of Americans disapprove of the President and Congress, and believe the nation is headed in the wrong direction.

In a recent Wall Street Journal column, Peggy Noonan, wrote “I don’t see how the president’s position and popularity can survive the oil spill. This is his third political disaster in his first 18 months in office. And they were all, as they say, unforced errors, meaning they were shaped by the president’s judgment and instincts.”

Suffice it to say that, if elections were being held next Tuesday, voters would replace most of those in Congress and, if Obama’s ratings continue to fall—-and I think they will—-there would be an angry mob surrounding the White House carrying torches and pitchforks demanding his resignation.
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It’s time to ask some “Hardball Questions!”

May 23, 2010 | Filed Under Banks, Business, Crime, Government, Corruption, Vince Johnson | Comments Off

(Ed, a quick note from Mr. Johnson…)
-By Vince Johnson

There must be some reason why Obama and Congress are badmouthing Arizona’s call for help in enforcing immigration laws on the books for over fifty years.

Could it be that the Drug Lords have hired some “backdoor” lobbyists? If there were some other reason, you’d think the wealthy incumbents would have made it public years ago.

Why don’t the Drug Lords put their money in the bank? Is it because investing in political influence provides a far greater return on investment?
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