How far do we want this incompetent government to be in our business? If you really look into the financial collapse it is mainly because of federal regulation that got us here in the first place. The upside down loans were pushed through via federal oversight (regulation).
so, would they take control of the whole company of AIG, or just the financial side? there are so many parts of AIG, why can’t they just remove the financial troublesome side? because the insurance side for the auto’s has to be solvent to pay claims out. so they can’t take that money to help the rest of the company. as many of you can see, they have either purchased 21st century or 21st century has purchased this part of AIG (not sure which). it’s remarkable that even the journalists are supposedly trying to make things in straight order, but can’t keep the names straight. can we see the light somewhere?
Is it conceivable that Pres Obama’s plan to have the private sector (who and whatever that is)assist in the purchase of poisoned assets will fail, and thus be the first step in the nationalization of banks and the like?
Ultimately, I think that’s what the Pres. wants.
Welcome to your new health insurer! AIG. and when someone says national bank to you, they will meant it. This is the change that Obama longs for. His wife is the daughter of a union boss, he grew up not aware of how business really works. No one in his family or any mentor was a business person. This is either learning on the job or he has an agenda to bring us to socialism.
Gosh I sure hope we are!!
Giether was “fuming” yesterday because of the AIG bonus situation? You can thank Dodd and Frank for this along with others up on the hill and can’t blame inheriting this one. The “Change” folks have caused the banking problem to further doctorate because they don’t read all the pages, just the Pork they are interested in.
It will not stop unless we get really loud, and enough idiots in Congress come around to their senses and see Obama and whoever is his puppetmaster are leading us down the road to the destruction of our beloved USA. Be seen and Be heard!Find and participate in a tea party near you on April 15. taxdayteaparty.com
I am going to the tea parties, these shindigs are really taking off. I wonder that if they get popular enough the B.O. administration are going to go Tienanmen Square on us.
Mike, the Patriot Act may have been passed during the Bush Admin, but Obama is wholly embracing and carrying the torch forward. Google Fusion Center and Data Mining to find how our freedoms and liberties are eroding even more under Obama. Don’t be blindsided by the left/right paradigm. Wake up America. Divided we fall….
Geese, listen to you guys. After reading all the posts from this article there is not one true statement of something that has actually happened to make us more socialist. Nothing has actually ended capitalism last time I looked. What tools of industry are actually owned by the government?? It’s all “oh no…the big bad Obama is going to end capitalism, tax us out of existence, nationalize the financial system, steal my money”. He’s been there two months. How quickly do you expect one guy to fix this mess? At least he has a clue, and acutally reads his briefing books. Did any of you chicken littles actually watch the news confrence last night? He wasn’t lobbed soft ball questions. Watching a guy up there who can barely rub two sticks together and thinks the word recession refers to someone’s hair line can only take us so far. Let’s see where we are in two years to see if there is anything for the chicken little faction to chirp about. This country was nearly wrecked and the current President had nothing to do with the wrecking….
The President does not want to nationalize the banks any more than he wants to hang out with Orin Hatch. If he wanted to take over the banks he would have done so now as there is adequate justification for doing so. More paranoia from the right wing….
Lets see what has happened. If you take all the debt since George Washington up until Obama. We have doubled it in 60 days. We have tried to legislate laws (90% tax on AIG bonuses) that obviously does not stand up to the Constitutional review. Even the president has said that, then the very next day he himself does the same thing with his power grab to take over other institutions which he deems as vital to the financial health of our country, again unconstitutional. Not to mention Congress and the president have yet to really give us what is planed for healhcare. We do know he is going to break his promise to give us the middle class tax break as he would not answer that question last night.
So Chicken hawk – there is your socialist agenda and Mike please dont quote the huffington post. give me a break, you might as well be listening to the socialist Soros.
Watch the news, not the comentary from CNN, or MSNBC. If you cant see the “change” you are blind. Yes, there is something to fear from a government with a redistribution of wealth agenda. If you dont think it can happen, Look at Chavez. I know it sounds crazy but you have to be vigilant with our freedoms and our laws. Once they are violated it sets the stage for the next step. The whole reason for the Supreme Court is to determine what is Constitutional and the Congress and president is trying very hard to legislate around the US Constitution. Lets just hope they never are able to stack the court to go along with them. Its not a republican or democrat issue, its conservative vs liberal or borderline socialist issue.
Hey Bill, I mean genius. Obama has actually put war spending for Iraq and Afganastan IN the budget as opposed to leaving it out of the budget like your favorite former President. That is a big reason for the doubling. I guess honesty will do that. I agree the 90% bonus tax is stupid but it certainly resulted in a lot of the bonus money being given back ($50 million so far). How do you expect heathcare nad a middle class tax cut to really be on the agenda now based on the Sh*t storm that is the US economy and truthful accounting NOW being part of the budget process. I guess you are so used to being lied to by the former President and his very moral right wing buddies that you assume any politician, no matter how well meaning and sincere, is doing the same thing. There is a big difference here in this administration. Try to see through your paranoia. I know it’s hard.
No question you both like to predict dire futures and complain about ideas from others.
But do either of you have a constructive idea? What would you have done starting way back last summer when the extent of the financial meltdown started to become apparent?
And, what would the economy look like now if Bush and then Obama had listened?
Sam says: The sky is falling…Obama is becoming Chavez. That’s the best on yet. Since you bring up trying to circumvent the constitution, look at how the last guy and his man David Addington (a hack consitutional lawyer) “interpreted” expanded powers of the presidency through his nifty “signing statements”. I would rather stack the Supreme Court with people with a heavy handed moral agenda. Nothing on the scale of your paranoic (is that a word?) fears has happened nor will it happen. Just let the paranoia go….
I have a friend who banked an extra $ million based on Bush’s tax cut. When I asked him what he was going to do with the extra money, he said “nothing. It’s not like I am going to go out and buy a washer and dryer or something. Maybe a tax cut for a guy like you would make more sense.” I was making about $130,000 when he said that. So, next time the “supply siders” advocate cutting taxes on the rich and screwing everyone else, you heard a real world (yes, anecdotal) example of why that thinking is stale at best.
Obama also employed a “nifty signing statement” when he signed the $400B Omnibus Appropriation Act AKA the Stimulus Bill. You need to start looking more objectively at your guy, Obama.
There is a difference in the use of signing statements. You can go the Bush route and say the “President, in circumstances defined by the President is not bound by the contents of this bill”. Which he needed David Addington to come up with some crazy, made up work-around supposedly existing in the constitution or you can go the Obama route and simply state the intent of the bill and the President’s intention to follow it’s content. Read up on it, bone head. Signing statements in and of themselves are not a bad thing (sorry I did not state this earlier). Manipulation of the constitution and “interpreting” imaginary additional Presidential powers via the signing statement vehicle is a dishonest and fraudulent act that could be extremely intrerpreted as fascism…but I won’t do that. You need to read up on some things knuckle-head.
Obama is a liar of magnificent proportion, a re-distributor of personal wealth and a communist, by his own admission in his early Chicago years, using this “Crisis” to impose debt coupled with regulation on every U.S. citizen. He has enacted not one solution that addresses the cause of the “mortgaged backed securities” default that caused the Meltdown, which was defaulted mortgages by people who never should have been lent the money in the first place. Period. People who borrow excessively and cannot repay should go into bankruptcy. You and I should not pay to keep them afloat. Banks who fail should go into bankruptcy. You and I should not give them our tax dollars. Every dollar we own is now worth considerably less — probably 15% — than it was before over $2 Trillion more dollars were invented out of thin air and thrown at this problem: $1 Trillion by the Obama Stimulus Package and $1 Trillion by the Federal RFEserve Board’s Open market Committee two weeks ago when they bought $300 Billion of our Treasury Bills and agreed to put another $1 Trillion into banks– which got no press whatsoever.
Barack Hussein Obama will bankrupt the United States with the year unless he is reigned in significantly.
Thus, the very idea that Government should step in and “wind down” non bank institutions, when it was Democrat Rep. Barney Frank’s “loan money to the poor” bill that forced the banks to make the bad loans in the first place is ridiculous.
All signing statements are a bad thing, no matter who does/did them. Bush and Obama have been the only two POTUS do use them. They weaken our system of checks and balances and the separation of powers between the Executive and Legislative Branch. The president should use his veto power, as all prior presidents have done before Bush, if he feels the bill contains unconstitutional elements. Frankly, I believe signing statements are, in themselves, unconstitutional, as the constitution requires that the president either approve or disapprove in their entirety laws presented to him by Congress. But, it is wishful thinking that they will begin upholding the constitution at this point…
And, I’ll accept in advance your apology for your name calling. You need to rise above it.
Today I read the resignation letter of Jake DeSantis that was published in the NY Times. http://www.nytimes.com/2009/03/25/opinion/25desantis.html?ref=opinion
I was surprised to learn that most of the AIG staff that created the credit swap mess are long gone from the company. I was surprised to learn that several of the people getting the bonuses were paid an annual salary of $1 and that their promised compensation for staying with AIG to resolve and wind down several departments was the bonus. I was surprised to learn that the majority of the bonus money doesn’t even relate to the whole credit mess. Why doesn’t this administration and the politians let this information out? WHere is the press on this viewpoint from the other side? The American public is led to believe that these bonuses are for the people who created the credit swap mess when that doesn’t seem to be the case at all. Now our government wants more power to enforce policies on AIG and other businesses. I say no! If they can’t bother to investigate the facts, why should they get more power?
Yes I am. And ABCCBSNBCFOX news CNN will tell you the same dam thing.
Or is this just your little conspiracy?
He even contacted all of 13 news organizations he called on and told them to have a question ready.
He did the same thing at the last one of these, but called on completely different people outside of the 5 major TV networks.
I do understand why you are thinking what you are thinking though, and I thought the same thing for a moment.
But there are way too many people involved for him to pull that off, and the TV stations dont have much incentivce to lie for him ,especially FOx news.
Isnt it funny to argue with liberals, I gave Chicken hawk facts about what has happened over the last 60 days, he gives us your paranoid, hmmmm. No facts. He wants us to give him more time… for what to spend us into bankrupcy and borrow us into poverty. Not paranoid, thats a fact. Obama has spent more than any president in any administration since the inception of our nation. FACT! not Paronoic?
I wonder if has anything to do with the mess he inherited you fool. You are the picture of ignorance. Dont make me ejaculate in your wife’s hair you *****.
Annoy a Liberal, Use facts and logic, they will always come back with some emotion or complain and blame. It is like talking to your teenage daughter. Frustrating but funny…
Hey Gary, you cant blame Bush anymore.. Your guy owns this pile of sh*t he is creating. Here is a good example of how democrats ruin an economy.
What do top ten cities with the highest poverty rate all have in common?
> Detroit, MI (1st on the poverty rate list) hasn’t elected a Republican mayor since 1961;
> Buffalo, NY (2nd) hasn’t elected one since 1954;
> Cincinnati, OH (3rd)…since 1984;
> Cleveland, OH (4th)…since 1989;
> Miami, FL (5th) has never had a Republican mayor;
> St. Louis, MO (6th)….since 1949;
> El Paso, TX (7th) has never had a Republican mayor;
> Milwaukee, WI (8th)…since 1908;
> Philadelphia, PA (9th)…since 1952;
> Newark, NJ (10th)…since 1907.
> Einstein once said, “The definition of insanity is doing the same thing over and over again and expecting a different result.”
It is the so-called disadvantaged who habitually elect Democrats, yet they are still “disadvantaged.”
Then compare the leadership provided in crisis: Rudy Guiliani and Ray Nagin.
Mike you have to be kidding. Huffington Post. Thats the farthest thing from objective and factual journalism on the planet. This is the same rag, who said they wished Nancy Regan would just die.
Stop watching MSNBC, CNN. and absolutely Huffington post. GIVE ME A BREAK.
How about the Congressional Budget Offices Reports that Obama has doubled our national debt in 60 days. Read that and weap.
Stop the complain and blame Bush game, Obama owns this now and look what he has done in such a short time.
Im sorry but lets discuss this like intelligent adults. What specifically from that article do you disagree with? Is it the charts and graphs that have you confused?
Or is it the facts? I know those can be tough to deal with, so folks like you generally like to stay away from them.
Huffington Post does not tell the truth. I can make graphs and still distort the truth. Here are some more facts and examples of how the facts you have quoted by the “huffington post” ha! are distorted.
Fact – The highest revenue that the Fed has ever recieved was under Bush in 2005 after the Bush Tax cuts. Cut taxes revenues go up! Congress fell to democratic control in 2006.
Fact – Distortion on both sides. The growth in the stock market under Clinton was totally due to the dot com bubble. In defense of dems, Housing under Bush was at the highest it ever had been in history and we all saw what happens in bubbles.
Fact- Yes democrats create jobs just 500% higher in government jobs than republicans. 50% higher in private sector for republicans. Government jobs cost the fed money while private sector jobs create revenue for the Fed.
Fact – The top 10 cities in this country with the highest poverty rates, All have democrats as Mayors.
Your facts are distorted and show to what steps the huffington post will go to create their socialist agenda. I bet you think Soros is great as well as he is funding the huffington post.
With High spending creates dramatic inflation which squews the GDP numbers.
Roosevelt came into power durring the depression deflationary situation. Started spending money like a drunk sailor and inflation kicked in and GDP rose. Carter intrest rates at 19% and GDP will rise. Kennedy is pretty much the only democratic president with lower inflation who decreased taxes and slowed spending. Then there is Johnson who started us back on the path to tax and spend. Inflation and higher GDP. Deflation reduces GDP and is just if not worse than inflation. Wait until China stops buying our dollar and we will intrest rates in the 15% area, GDP will rise it cannot help it, but what will your dollar buy?
Since early March the market has rallied over 20%. Yet — for some strange reason — the right wings blogs who professed doom at every opportunity then the market was dropping are now silent. Little Green Footballs — who posted daily articles on the dow dropping — has yet to comment on this rally. John Hawkins of Right Wing News — who wrote an article titled “Is Obama Trying to Crash the Economy — has been strangely silent. Powerline — who are without a doubt economic titans of the highest order — have not said a word. National Review has yet to comment on this rally — even though I am sure they are happy to see it. After all, markets are good, right? Larry Kudlow has commented, but had given all the credit to the Federal Reserve:
Right now the big story traces back to the late Milton Friedman: Pour in the money and the economy will expand. There’s too much money chasing too few goods today, but there will be a stronger-than-expected pickup in the future production of goods and services. Money matters.
This is incredibly funny because the exact same argument applies to the 2001 — 2007 expansion when the Fed lowered rates to 0% after adjusting for inflation. Only then Kudlow argued “the Greatest Story Never Told” was the result of tax cuts.
Here’s the point: there are a host of right wing yahoos who at every turn talked about the market dropping over the last few months. Yet none have said anything about the rally. The reason is simple: they know squat about how the market works. One commenter to a previous story went so far as to blame the then latest drop entirely on Obama but failed to perform the same analysis on the 2007-2008 drop because “Bush did too good a job healing the economy”. Talk about mental gymnastics.
The market was dropping because the economic fundamentals were terrible; all the news was uniformly bad. But the market became technically oversold (actually the market became extremely oversold). And then the market heard about a new bail-out plan that it liked followed by some news that wasn’t as bad as we thought it would be. And we get a nice rally as a result. Yet now the “Dow as the barometer of the economy” method of economic analysis is no longer valid for some strange reason.
So to the right wing blogs, yahoos and commentators who think the Dow is the ultimate arbiter of the economy, what say you now?
As Congress moves from serving as a conduit for public outrage to the more serious task of crafting legislation to strengthen the regulation of all of financial services, it should be remembered that the AIG that got into trouble was not any of the 71 AIG insurance companies, which remain strong thanks to state insurance regulation. It was the entity and its operations that were supervised not by the states, but by the federal Office of Thrift Supervision (OTS) which recently admitted that it failed to properly understand the AIG Financial Products unit’s implications and made wrong oversight decisions in 2004.
Mike, The market is a ponzi and has been since the Dotcoms. Fundamental investing went out with disco. The Dow a year ago was at 14000 now 7400, by the way your 20% rally means very little since the dow ended at 7949.09 on 1/20/09. But hey, Gietner finally has done something on housing. I think that has done more for the markets than anything. But you are correct the market is emotional rather than logical. Sounds like a democrat! Sorry mike I just couldnt resist.
Obama seeks power… Everyone needs to follow the ball and where it is going. The reason for this power grab, is for Obama to take control of GM. Come on… you really dont think that Obama is going to let GM go into bankrupcy and the union with their legacy cost unfunded do you? THIS IS ALL ABOUT US TAKING OVER GM AND US PAYING FOR UNION EMPLOYEES TO TWITTLE THEIR THUMBS IN DETROIT FOREVER!
3/30/09
Government control of Auto Industry coming?
WASHINGTON – President Barack Obama refused further long-term federal bailouts for General Motors and Chrysler, saying more concessions were needed from unions, creditors and others before they could be approved. He raised the possibility Monday of controlled bankruptcy for one or both of the beleaguered auto giants.
With his words, Obama underscored the extent to which the government is now dictating terms to two of the country’s iconic corporations, much as it has already taken an ownership stake in banks, the insurance giant AIG and housing titans Fannie Mae and Freddie Mac.
How far do we want this incompetent government to be in our business? If you really look into the financial collapse it is mainly because of federal regulation that got us here in the first place. The upside down loans were pushed through via federal oversight (regulation).
AIG, which has been propped up with up to $180 billion from taxpayers, has become the poster child for U.S. regulatory reform. Give not one more dime!
so, would they take control of the whole company of AIG, or just the financial side? there are so many parts of AIG, why can’t they just remove the financial troublesome side? because the insurance side for the auto’s has to be solvent to pay claims out. so they can’t take that money to help the rest of the company. as many of you can see, they have either purchased 21st century or 21st century has purchased this part of AIG (not sure which). it’s remarkable that even the journalists are supposedly trying to make things in straight order, but can’t keep the names straight. can we see the light somewhere?
Is this the “change” we were promised. For some reason, I voted for this idiot. Call me stupid, I guess.
Is it conceivable that Pres Obama’s plan to have the private sector (who and whatever that is)assist in the purchase of poisoned assets will fail, and thus be the first step in the nationalization of banks and the like?
Ultimately, I think that’s what the Pres. wants.
Welcome to your new health insurer! AIG. and when someone says national bank to you, they will meant it. This is the change that Obama longs for. His wife is the daughter of a union boss, he grew up not aware of how business really works. No one in his family or any mentor was a business person. This is either learning on the job or he has an agenda to bring us to socialism.
Gosh I sure hope we are!!
Giether was “fuming” yesterday because of the AIG bonus situation? You can thank Dodd and Frank for this along with others up on the hill and can’t blame inheriting this one. The “Change” folks have caused the banking problem to further doctorate because they don’t read all the pages, just the Pork they are interested in.
It will not stop unless we get really loud, and enough idiots in Congress come around to their senses and see Obama and whoever is his puppetmaster are leading us down the road to the destruction of our beloved USA. Be seen and Be heard!Find and participate in a tea party near you on April 15. taxdayteaparty.com
I am going to the tea parties, these shindigs are really taking off. I wonder that if they get popular enough the B.O. administration are going to go Tienanmen Square on us.
It’s always fun to watch the dittoheads lie about the past and make outrageous catastrophic predictions about the future.
I dont know Frank, but based on the Patriot Act that Bush passed, that would be hypothetically possible.
Mike, the Patriot Act may have been passed during the Bush Admin, but Obama is wholly embracing and carrying the torch forward. Google Fusion Center and Data Mining to find how our freedoms and liberties are eroding even more under Obama. Don’t be blindsided by the left/right paradigm. Wake up America. Divided we fall….
Atlas didnt Obama close Guontonomo?
You are correct though, Obama has done nothing to stop what the patriot act does to our freedoms.
Which was really my point, in that the whole tienanmen square thing could actually happen in the US. Its scary.
Atlas, here is an interesting commentary on those tea parties…..
http://www.huffingtonpost.com/bob-cesca/the-weird-contradictions_b_176476.html
Geese, listen to you guys. After reading all the posts from this article there is not one true statement of something that has actually happened to make us more socialist. Nothing has actually ended capitalism last time I looked. What tools of industry are actually owned by the government?? It’s all “oh no…the big bad Obama is going to end capitalism, tax us out of existence, nationalize the financial system, steal my money”. He’s been there two months. How quickly do you expect one guy to fix this mess? At least he has a clue, and acutally reads his briefing books. Did any of you chicken littles actually watch the news confrence last night? He wasn’t lobbed soft ball questions. Watching a guy up there who can barely rub two sticks together and thinks the word recession refers to someone’s hair line can only take us so far. Let’s see where we are in two years to see if there is anything for the chicken little faction to chirp about. This country was nearly wrecked and the current President had nothing to do with the wrecking….
Well said brother….
The President does not want to nationalize the banks any more than he wants to hang out with Orin Hatch. If he wanted to take over the banks he would have done so now as there is adequate justification for doing so. More paranoia from the right wing….
Lets see what has happened. If you take all the debt since George Washington up until Obama. We have doubled it in 60 days. We have tried to legislate laws (90% tax on AIG bonuses) that obviously does not stand up to the Constitutional review. Even the president has said that, then the very next day he himself does the same thing with his power grab to take over other institutions which he deems as vital to the financial health of our country, again unconstitutional. Not to mention Congress and the president have yet to really give us what is planed for healhcare. We do know he is going to break his promise to give us the middle class tax break as he would not answer that question last night.
So Chicken hawk – there is your socialist agenda and Mike please dont quote the huffington post. give me a break, you might as well be listening to the socialist Soros.
Rush Limbough makes me ………….
JIZZ IN MY PANTS!!
Watch the news, not the comentary from CNN, or MSNBC. If you cant see the “change” you are blind. Yes, there is something to fear from a government with a redistribution of wealth agenda. If you dont think it can happen, Look at Chavez. I know it sounds crazy but you have to be vigilant with our freedoms and our laws. Once they are violated it sets the stage for the next step. The whole reason for the Supreme Court is to determine what is Constitutional and the Congress and president is trying very hard to legislate around the US Constitution. Lets just hope they never are able to stack the court to go along with them. Its not a republican or democrat issue, its conservative vs liberal or borderline socialist issue.
Hey Bill, I mean genius. Obama has actually put war spending for Iraq and Afganastan IN the budget as opposed to leaving it out of the budget like your favorite former President. That is a big reason for the doubling. I guess honesty will do that. I agree the 90% bonus tax is stupid but it certainly resulted in a lot of the bonus money being given back ($50 million so far). How do you expect heathcare nad a middle class tax cut to really be on the agenda now based on the Sh*t storm that is the US economy and truthful accounting NOW being part of the budget process. I guess you are so used to being lied to by the former President and his very moral right wing buddies that you assume any politician, no matter how well meaning and sincere, is doing the same thing. There is a big difference here in this administration. Try to see through your paranoia. I know it’s hard.
No question you both like to predict dire futures and complain about ideas from others.
But do either of you have a constructive idea? What would you have done starting way back last summer when the extent of the financial meltdown started to become apparent?
And, what would the economy look like now if Bush and then Obama had listened?
Isnt redistribution of wealth good? I make almost $250,000 last year. I would still do really well under obama’s plan.
Its the multi millionaires that would have to start paying more of their share.
If thats socialism, then ok, whats the problem?
Is anyone really worth a billion dollars just because they pulled the right strings on a hedge fund?
Forget it, its not natural for one person to have that much wealth, only a MAN MADE system like capitalism would allow that.
Im all for skimming a little more from the billionaires.
Will any of you be affected?
I didnt think so.
Im just not gonna waste my time defending the rights of people with 3 houses and 5 luxury cars in their driveway.
Sam says: The sky is falling…Obama is becoming Chavez. That’s the best on yet. Since you bring up trying to circumvent the constitution, look at how the last guy and his man David Addington (a hack consitutional lawyer) “interpreted” expanded powers of the presidency through his nifty “signing statements”. I would rather stack the Supreme Court with people with a heavy handed moral agenda. Nothing on the scale of your paranoic (is that a word?) fears has happened nor will it happen. Just let the paranoia go….
It’s a long read, but worthwhile and scary
http://www.rollingstone.com/politics/story/26793903/the_big_takeover
I have a friend who banked an extra $ million based on Bush’s tax cut. When I asked him what he was going to do with the extra money, he said “nothing. It’s not like I am going to go out and buy a washer and dryer or something. Maybe a tax cut for a guy like you would make more sense.” I was making about $130,000 when he said that. So, next time the “supply siders” advocate cutting taxes on the rich and screwing everyone else, you heard a real world (yes, anecdotal) example of why that thinking is stale at best.
Yea, he said “Chicken Hawk, Im going to go out and create some jobs!!” “Want to come with me?”
Obama also employed a “nifty signing statement” when he signed the $400B Omnibus Appropriation Act AKA the Stimulus Bill. You need to start looking more objectively at your guy, Obama.
There is a difference in the use of signing statements. You can go the Bush route and say the “President, in circumstances defined by the President is not bound by the contents of this bill”. Which he needed David Addington to come up with some crazy, made up work-around supposedly existing in the constitution or you can go the Obama route and simply state the intent of the bill and the President’s intention to follow it’s content. Read up on it, bone head. Signing statements in and of themselves are not a bad thing (sorry I did not state this earlier). Manipulation of the constitution and “interpreting” imaginary additional Presidential powers via the signing statement vehicle is a dishonest and fraudulent act that could be extremely intrerpreted as fascism…but I won’t do that. You need to read up on some things knuckle-head.
Obama is a liar of magnificent proportion, a re-distributor of personal wealth and a communist, by his own admission in his early Chicago years, using this “Crisis” to impose debt coupled with regulation on every U.S. citizen. He has enacted not one solution that addresses the cause of the “mortgaged backed securities” default that caused the Meltdown, which was defaulted mortgages by people who never should have been lent the money in the first place. Period. People who borrow excessively and cannot repay should go into bankruptcy. You and I should not pay to keep them afloat. Banks who fail should go into bankruptcy. You and I should not give them our tax dollars. Every dollar we own is now worth considerably less — probably 15% — than it was before over $2 Trillion more dollars were invented out of thin air and thrown at this problem: $1 Trillion by the Obama Stimulus Package and $1 Trillion by the Federal RFEserve Board’s Open market Committee two weeks ago when they bought $300 Billion of our Treasury Bills and agreed to put another $1 Trillion into banks– which got no press whatsoever.
Barack Hussein Obama will bankrupt the United States with the year unless he is reigned in significantly.
Thus, the very idea that Government should step in and “wind down” non bank institutions, when it was Democrat Rep. Barney Frank’s “loan money to the poor” bill that forced the banks to make the bad loans in the first place is ridiculous.
All signing statements are a bad thing, no matter who does/did them. Bush and Obama have been the only two POTUS do use them. They weaken our system of checks and balances and the separation of powers between the Executive and Legislative Branch. The president should use his veto power, as all prior presidents have done before Bush, if he feels the bill contains unconstitutional elements. Frankly, I believe signing statements are, in themselves, unconstitutional, as the constitution requires that the president either approve or disapprove in their entirety laws presented to him by Congress. But, it is wishful thinking that they will begin upholding the constitution at this point…
And, I’ll accept in advance your apology for your name calling. You need to rise above it.
If Obama wasn’t “lobbed softball questions” then why was he chosing the next reporter to ask a question from a written list in front of him?
Today I read the resignation letter of Jake DeSantis that was published in the NY Times. http://www.nytimes.com/2009/03/25/opinion/25desantis.html?ref=opinion
I was surprised to learn that most of the AIG staff that created the credit swap mess are long gone from the company. I was surprised to learn that several of the people getting the bonuses were paid an annual salary of $1 and that their promised compensation for staying with AIG to resolve and wind down several departments was the bonus. I was surprised to learn that the majority of the bonus money doesn’t even relate to the whole credit mess. Why doesn’t this administration and the politians let this information out? WHere is the press on this viewpoint from the other side? The American public is led to believe that these bonuses are for the people who created the credit swap mess when that doesn’t seem to be the case at all. Now our government wants more power to enforce policies on AIG and other businesses. I say no! If they can’t bother to investigate the facts, why should they get more power?
Bill you fool, they were tough questions. Even right wing commentators have said this.
The first 4 questions were from ABC, CBS, NBC, FOX – and then later a tough question from politico.
Which question in particular was a softball question you ***?
Hillary, are you claiming that he had no prior knowledge of what he was going to be asked?
Yes I am. And ABCCBSNBCFOX news CNN will tell you the same dam thing.
Or is this just your little conspiracy?
He even contacted all of 13 news organizations he called on and told them to have a question ready.
He did the same thing at the last one of these, but called on completely different people outside of the 5 major TV networks.
I do understand why you are thinking what you are thinking though, and I thought the same thing for a moment.
But there are way too many people involved for him to pull that off, and the TV stations dont have much incentivce to lie for him ,especially FOx news.
Isnt it funny to argue with liberals, I gave Chicken hawk facts about what has happened over the last 60 days, he gives us your paranoid, hmmmm. No facts. He wants us to give him more time… for what to spend us into bankrupcy and borrow us into poverty. Not paranoid, thats a fact. Obama has spent more than any president in any administration since the inception of our nation. FACT! not Paronoic?
Bill deficit spending is historically a republican thing not a democrat thing – This is a FACT – I can send you links to prove this.
Is it a fact, this years budget deficit is the largest in history? hmmmm….
He has only been in office 60 days, quite an accomplishment. How’s that for hope and change..
I wonder if has anything to do with the mess he inherited you fool. You are the picture of ignorance. Dont make me ejaculate in your wife’s hair you *****.
Annoy a Liberal, Use facts and logic, they will always come back with some emotion or complain and blame. It is like talking to your teenage daughter. Frustrating but funny…
Hey Bill, get a load of this guy,haaa. No pun intended.
Lets see, 486 Billion deficit last year. 1.48 trillion this year.
I hear crickets……
Hey Gary, you cant blame Bush anymore.. Your guy owns this pile of sh*t he is creating. Here is a good example of how democrats ruin an economy.
What do top ten cities with the highest poverty rate all have in common?
> Detroit, MI (1st on the poverty rate list) hasn’t elected a Republican mayor since 1961;
> Buffalo, NY (2nd) hasn’t elected one since 1954;
> Cincinnati, OH (3rd)…since 1984;
> Cleveland, OH (4th)…since 1989;
> Miami, FL (5th) has never had a Republican mayor;
> St. Louis, MO (6th)….since 1949;
> El Paso, TX (7th) has never had a Republican mayor;
> Milwaukee, WI (8th)…since 1908;
> Philadelphia, PA (9th)…since 1952;
> Newark, NJ (10th)…since 1907.
> Einstein once said, “The definition of insanity is doing the same thing over and over again and expecting a different result.”
It is the so-called disadvantaged who habitually elect Democrats, yet they are still “disadvantaged.”
Then compare the leadership provided in crisis: Rudy Guiliani and Ray Nagin.
http://www.huffingtonpost.com/hale-stewart/proof-democrats-are-bette_b_113238.html
read it and weep boys…..
Mike you have to be kidding. Huffington Post. Thats the farthest thing from objective and factual journalism on the planet. This is the same rag, who said they wished Nancy Regan would just die.
Stop watching MSNBC, CNN. and absolutely Huffington post. GIVE ME A BREAK.
How about the Congressional Budget Offices Reports that Obama has doubled our national debt in 60 days. Read that and weap.
Stop the complain and blame Bush game, Obama owns this now and look what he has done in such a short time.
Im sorry but lets discuss this like intelligent adults. What specifically from that article do you disagree with? Is it the charts and graphs that have you confused?
Or is it the facts? I know those can be tough to deal with, so folks like you generally like to stay away from them.
Huffington Post does not tell the truth. I can make graphs and still distort the truth. Here are some more facts and examples of how the facts you have quoted by the “huffington post” ha! are distorted.
Fact – The highest revenue that the Fed has ever recieved was under Bush in 2005 after the Bush Tax cuts. Cut taxes revenues go up! Congress fell to democratic control in 2006.
Fact – Distortion on both sides. The growth in the stock market under Clinton was totally due to the dot com bubble. In defense of dems, Housing under Bush was at the highest it ever had been in history and we all saw what happens in bubbles.
Fact- Yes democrats create jobs just 500% higher in government jobs than republicans. 50% higher in private sector for republicans. Government jobs cost the fed money while private sector jobs create revenue for the Fed.
Fact – The top 10 cities in this country with the highest poverty rates, All have democrats as Mayors.
Your facts are distorted and show to what steps the huffington post will go to create their socialist agenda. I bet you think Soros is great as well as he is funding the huffington post.
What about these facts dont you like?
http://tlrii.typepad.com/theliscioreport/2008/07/presidential-ec.html#more
With High spending creates dramatic inflation which squews the GDP numbers.
Roosevelt came into power durring the depression deflationary situation. Started spending money like a drunk sailor and inflation kicked in and GDP rose. Carter intrest rates at 19% and GDP will rise. Kennedy is pretty much the only democratic president with lower inflation who decreased taxes and slowed spending. Then there is Johnson who started us back on the path to tax and spend. Inflation and higher GDP. Deflation reduces GDP and is just if not worse than inflation. Wait until China stops buying our dollar and we will intrest rates in the 15% area, GDP will rise it cannot help it, but what will your dollar buy?
Since early March the market has rallied over 20%. Yet — for some strange reason — the right wings blogs who professed doom at every opportunity then the market was dropping are now silent. Little Green Footballs — who posted daily articles on the dow dropping — has yet to comment on this rally. John Hawkins of Right Wing News — who wrote an article titled “Is Obama Trying to Crash the Economy — has been strangely silent. Powerline — who are without a doubt economic titans of the highest order — have not said a word. National Review has yet to comment on this rally — even though I am sure they are happy to see it. After all, markets are good, right? Larry Kudlow has commented, but had given all the credit to the Federal Reserve:
Right now the big story traces back to the late Milton Friedman: Pour in the money and the economy will expand. There’s too much money chasing too few goods today, but there will be a stronger-than-expected pickup in the future production of goods and services. Money matters.
This is incredibly funny because the exact same argument applies to the 2001 — 2007 expansion when the Fed lowered rates to 0% after adjusting for inflation. Only then Kudlow argued “the Greatest Story Never Told” was the result of tax cuts.
Here’s the point: there are a host of right wing yahoos who at every turn talked about the market dropping over the last few months. Yet none have said anything about the rally. The reason is simple: they know squat about how the market works. One commenter to a previous story went so far as to blame the then latest drop entirely on Obama but failed to perform the same analysis on the 2007-2008 drop because “Bush did too good a job healing the economy”. Talk about mental gymnastics.
The market was dropping because the economic fundamentals were terrible; all the news was uniformly bad. But the market became technically oversold (actually the market became extremely oversold). And then the market heard about a new bail-out plan that it liked followed by some news that wasn’t as bad as we thought it would be. And we get a nice rally as a result. Yet now the “Dow as the barometer of the economy” method of economic analysis is no longer valid for some strange reason.
So to the right wing blogs, yahoos and commentators who think the Dow is the ultimate arbiter of the economy, what say you now?
Comments from PIA President Kenneth R. Auerbach:
As Congress moves from serving as a conduit for public outrage to the more serious task of crafting legislation to strengthen the regulation of all of financial services, it should be remembered that the AIG that got into trouble was not any of the 71 AIG insurance companies, which remain strong thanks to state insurance regulation. It was the entity and its operations that were supervised not by the states, but by the federal Office of Thrift Supervision (OTS) which recently admitted that it failed to properly understand the AIG Financial Products unit’s implications and made wrong oversight decisions in 2004.
The Fed doesn’t deserve more control or power!
Mike, The market is a ponzi and has been since the Dotcoms. Fundamental investing went out with disco. The Dow a year ago was at 14000 now 7400, by the way your 20% rally means very little since the dow ended at 7949.09 on 1/20/09. But hey, Gietner finally has done something on housing. I think that has done more for the markets than anything. But you are correct the market is emotional rather than logical. Sounds like a democrat! Sorry mike I just couldnt resist.
Obama seeks power… Everyone needs to follow the ball and where it is going. The reason for this power grab, is for Obama to take control of GM. Come on… you really dont think that Obama is going to let GM go into bankrupcy and the union with their legacy cost unfunded do you? THIS IS ALL ABOUT US TAKING OVER GM AND US PAYING FOR UNION EMPLOYEES TO TWITTLE THEIR THUMBS IN DETROIT FOREVER!
3/30/09
Government control of Auto Industry coming?
WASHINGTON – President Barack Obama refused further long-term federal bailouts for General Motors and Chrysler, saying more concessions were needed from unions, creditors and others before they could be approved. He raised the possibility Monday of controlled bankruptcy for one or both of the beleaguered auto giants.
With his words, Obama underscored the extent to which the government is now dictating terms to two of the country’s iconic corporations, much as it has already taken an ownership stake in banks, the insurance giant AIG and housing titans Fannie Mae and Freddie Mac.