Archive for the ‘Frank’ Category

For Obama and Geithner: Action Would Speak Louder Than What We Have Now

March 27, 2009

“People have confidence in Obama and generally want him to succeed,” says Frank Luntz, an experienced pollster. “But they don’t necessarily translate that confidence into his policies or the government.”

Bingo.

Treasury is a confidence black hole.  Why?  Because despite many efforts to point the blame at Wall Street and greedy executives, nobody has said, “The regulaters screwed up.”  Instead we have been told “we inherited this Bush mess and Bush decreased regulations so we need more regulations — we need more government.”

We don’t need more government.  We need better government and more accountability: from the President through Barney Frank and the rest in congress and to Geither and all the other bureaucrats.

Who among us thinks Barney Frank and Christopher Dodd screwed up?  Who has trust and confidence that Barney and Chris and Tiny Tim Turbo Tax and even Obama can get us out of this?

Yesterday it looks like Mr. Geithner actually fired — or at least sent into the penalty box — one of his top deputies.  Now we are getting to the issue.

Scott Polakoff at Treasury’s  Office of Thrift Supervision  is on ice: and Treasury needs to explain why and take responsibility for him and his actions and fast.

Maybe we don’t need to make more rules: maybe we need to enforce the ones we have and enforce accountability.

Recovery will be about trust and confidence.  Without that, investors hold back, businesses don’t hire and workers don’t spend.

A government mea culpa would be a good first step: and continuing this line of “we inherited” is now more than paper thin it is a sign of impotence.

“What we need today is more optimism and more confidence,” Larry Summers said.

“Consumer confidence is slightly up. The market is slightly up,” Biden said.

“We need confidence to make this recovery work,” President Obama said.

Confidence can’t be produced with fairy dust or a magic wand.  We get it the old fashioned way: we earn it.

President Obama has to take dramatic action: not giggle through an appearance on Leno and “60 Minutes” or jabber on an Internet town hall.  That may work with tweens but it is not so good with real adults with real money.

Campaigning is for wannabees.  Those with real responsibility and accountability have to act to be credible and earn trust and confidence.

Now’s the time.

Related:
http://michellemalkin.com/2009/03/27/
the-strange-sacking-of-a-top-treasury-official/

Stumulus: Obama and Congress Sold Us A Lot Of Useless Swampland; Ready To Buy More?

Obama Buys Into Anger, Fear as Political Tool
Obama, Geithner, Summers Plan for “Toxic Assets” May be Toxic Itself

Obama’s public overexposure

Obama Still Thinks After Economy Recovers; Bank, Finance Good Times Can Return?

 Obama’s Economic “Rescue;” “The plan is very, very clever. Maybe too clever.”

 Stimulus: Way Fewer Jobs Than You Thought

 The Great Give Away of Taxpayer Money By Bigger and Bigger Government

 President Tries To Harness Public Anger To Move His Budget

Obama Dead Wrong On Stimulus, Caterpillar Company Jobs, Recovery

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Obama, Congress: Not One Candidate Worthy of “Special Olympics”

March 20, 2009

People I’ve met at the Special Olympics display drive, determination, and focus.  They see the big picture, believe in the fellowship of mankind and are overjoyed and thankful for their gifts.

The President of the United States, who promised a new kind of government, a new era of post racial, post partisan, pork free government of transparency and equality brought forth some kind of dementia of his own on national TV last night.

He demeaned the Special Olympics and the athletes who work so hard to get there.

Barack: stick to the teleprompter.  Tell Biden, too.

So now, after just 60 days of this president, his administration and this congress, we have a rush job stimulus to nowhere; a witch hunt over $165 million while several trillion dollars are frittered away.  We have a verbal war with Rush Limbaugh, no real bipartisanship, $1 billion in spending an hour for 50 days, and a world economy adrift.

Drifing downward.

And the hope?  The promise?  It’s to spend more.  With this congress deciding how.

Yesterday the president appeared on a late night comedy show which wasn’t funny, filled out his basketball bracket, which insulted at least one team, and today his wife will plant vegetables, apparently aware that the recent action by the Fed will mean inflation and veggies nobody can afford to buy.

It’s much more inspirational to watch the Special Olympics than this president and his team.

Let’s not even name names: nobody in this presidency and congress looks able enough to make the Special Olympic team….They are an insult to Special Olympians…..

With the world economy on life support, Obama and this congress seem worthy only of pulling the plug….

Related:
Read more abouth Geithner, your diminishing wealth, Nancy Pelosi, Harry Reid, Barney Frank, Chris Dodd….

http://michellemalkin.com/2009/03/
20/obamas-worse-joke-and-insult-to
-american-taxpayers-intelligence/

Obama on Leno, Special Olympics Crack, White House in “Damage Control Mode”

Obama and Leno Discuss Congress, AIG: “It Kind of Scared Me”

Economic Recovery? “These guys are eating my lunch”

Lawmaking by Stampede Made the Stimulus, Now We’ll Tax ‘Bonuses’ the Simulus Allowed?
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Obama On Geithner Sounds Like “Brownie, you’re doing a heck of a job”
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Pelosi, Rangel rushing to tax AIG and other bonuses 90%; This caused a revolution once…

AIG Bonus Snafu: Boomeranging Into the Faces of Democrats?

“Dodd The Dodge” — Senator Weasels Away The Truth; And Not Artfully

Obama the centrist, pragmatic problem-solver is gone: now liberal spendathon, no accountability

Obama, Pelosi: Anything to Win

Lawmaking by Stampede Made the Stimulus, Now We’ll Tax ‘Bonuses’ the Stimulus Allowed?

Duke Coach Slam Dunks Obama: Go Fix the Economy

Dodd Allowed AIG To Thrive in His State, Approved Bonuses: Now Throws Them Under The Bus

March 17, 2009

This is now a major Democratic integrity issue:  Chris Dodd allowed AIG to rake in billions of dollars in his home state, allowed the bonuses now so famous, and he is saying he’ll work his tail off for the Citizens of America to recoup every dollar.

YIKES!

He doesn’t have the stones to tell the President: “We screwed up, Mister President.  Better we  own up to the American people.”

And neither does Tim Geithner.  He knew about the AIG bonuses, and he allowed the president to go on a rant yesterday.  Geithner knew about AIG’s bonuses, he allowed them, and he allowed the president to grandstand yesterday in a self-righteous speech about “outrage.”

Or faux outrage.

Related:
Inside the Piñata At AIG: Death Threats and Disappointment in Elected Leaders

 Obama, Congress, Treasury, Fed: Shameful Mismanagement of Your Money, Recovery

“Dodd The Dodge” — Senator Weasels Away The Truth; And Not Artfully

The president knew abut the AIG bonus money last week and faked the big outrage event yesterday.

AIG Bonus Money Is Not The Problem: Government Is The Problem
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Obama’s AIG Outrage: All Talk, No Action

And most of the mainstream media has swallowed this BS — like CNN.  That’s a real outrage.

What is outrageous here is Obama, Geithner, Obama and Dodd.  And most of the media which is silent and “outraged.”

Few know more about the bailout of AIG than Senator Chistopher Dodd (D-Conn), chairman of the Committee on Banking, Housing and Urban Affairs.

Senate staffers tell us he allowed the AIG contracts that provide the bonus money now at issue — and now he has joined the fight to get that same money back.

Dodd suggested a tax provision to recoup the bonuses — which he should have never allowed.

Much of the bonus money will be paid to AIG people who are not American citizens and work overseas — so the horse has already left the barn in many respects….

Dodd allowed AIG to prosper in his home state and now he has thrown them under the bus.

The Washington Post said today that hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year.

Senator Richard Shelby is saying Treasury Secretary Geithner also knew about the bonuses and allowed them to be paid….

John E. Carey
Wakefield Chapel, Virginia

Senate Banking Committee Chairman Sen. Christopher Dodd, D-Conn., ... 
Senate Banking Committee Chairman Sen. Christopher Dodd, D-Conn., left, and the committee’s ranking Republican Sen. Richard Shelby, R-Ala., listen during a hearing on modernizing insurance regulations, Tuesday, March 17, 2009, on Capitol Hill in Washington.(AP Photo/Susan Walsh)

Related:
 Obama: Fire Geithner

Washington Post:
http://www.washingtonpost.com/wp-dyn
/content/article/2009/03/16/AR2009
031602961_pf.html

CNN:
http://www.cnn.com/2009/POLITICS
/03/17/aig.bonuses/index.html?sec
tion=cnn_latest

Sen. Chris Dodd said the government could apply a tax to the AIG bonuses.

Maxine Waters Helped Steer Bailout Funds to Bank With Family Ties

March 12, 2009

Do you think Nancy Pelosi will investigate her California pal Maxine Waters for conflict of interest?  There is still an ethics panel in the House, isn’t there?

******************

When Rep. Barney Frank was looking to aid a Boston-based lender last fall, the Massachusetts Democrat urged Maxine Waters, a colleague on the House Financial Services Committee, to “stay out of it,” he says.

The reason: Ms. Waters, a longtime congresswoman from California, had close ties to the minority-owned institution, OneUnited Bank.

Ms. Waters and her husband have both held financial stakes in the bank. Until recently, her husband was a director. At the same time, Ms. Waters has publicly boosted OneUnited’s executives and criticized its government regulators during congressional hearings. Last fall, she helped secure the bank a meeting with Treasury officials.

Read the rest from the Wall Street Journal:
http://online.wsj.com/article/
SB123682571772404053.html

[Rep. Maxine Waters] Getty Images

Rep. Maxine Waters, center, with Earvin “Magic” Johnson, left, and Ms. Waters’s husband, Sidney Williams, at the 2009 BET Honors Reception in Washington, D.C.

http://michellemalkin.com/2009/03/12/
calling-bull-on-abc-news-time-magazines
-apologists-for-pelosi/

http://michellemalkin.com/200
9/03/11/culture-of-corruption-alert/