Archive for the ‘newt’ Category

In AIG flap, it’s not just about bonuses anymore

March 19, 2009
Scrutiny of bailout terms expands as critics question federal officials’ longtime ties to aid recipients.
By Tom Hamburger and Janet Hook
The Los Angeles Times
March 19, 2009
Reporting from Washington — The firestorm over American International Group is spreading beyond executive bonuses, with lawmakers and policy experts now questioning virtually all aspects of the taxpayer-financed rescue package for the insurance giant.

Among other issues, critics are asking why AIG was allowed to use federal bailout money to repay $13 billion in debt obligations to Wall Street powerhouse Goldman Sachs, as well as debts to foreign banks.

Prominent Republicans, joined by some Democrats, suggested that the answer could be found in longtime ties linking Washington to Wall Street.

Former Treasury Secretary Henry M. Paulson was once chief executive of Goldman Sachs, for example, while AIG’s chief executive, Edward M. Liddy, was a member of Goldman’s board. The Treasury official who is in charge of the bailout, Neel Kashkari, is a former Goldman executive.

“Look at where the money went: Goldman Sachs, Paulson’s firm, foreign banks,” Sen. Jim Webb (D-Va.) said Wednesday. “AIG gave more money to foreign banks than we gave in loans to the auto industry.”

“The real outrage over the AIG bailout isn’t executive bonuses, it’s that billions in taxpayer funds intended for AIG have been passed through to benefit foreign banks and Wall Street behemoths like Goldman Sachs,” former House Speaker Newt Gingrich wrote in an e-mail letter to conservatives Wednesday morning.

Gingrich and Republicans on Capitol Hill unleashed their anger on the current Treasury Secretary, Timothy F. Geithner, saying he bore responsibility for being overly generous in providing aid to failed companies like AIG.

Two outspoken House Republicans — Darrell Issa of California and Connie Mack of Florida — called for Geithner’s resignation, saying the AIG bonus controversy on top of existing doubts about the bailout made such a move necessary.

Other Republicans, including the ranking member of the Senate Banking Committee, Alabama’s Richard C. Shelby, offered caustic criticism of Geithner but stopped short of calling for his resignation.

Read the rest:
http://www.latimes.com/business/la-fi
-aig-bailout19-2009mar19,0,2707699.story

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My Hope Doesn’t Allow Me To Swallow Obama The Way the Media Has…

March 16, 2009

There is just too much on the plate here to swallow.

As Andrew Malcolm wrote in the L.A. Times today:

Listen for more such positive tweaks in coming days. It’s bad. But we’re strong. If we can go to the moon, we can automate all medical records and cover everyone with health insurance and reform the country’s education system and stop foreclosures and expand the war in Afghanistan and create a federal deficit with more zeroes than most civilian calculators contain and then cut the deficit in half by giving 95% of Americans tax cuts and sticking it to a few rich people. And the only thing we have to fear is fear itself.

That and, perhaps, China calling in all its loans at once.

Oh, and cure cancer, solve global warming (if it is the disaster Al Gore claims) and rid ourselves of oil, gas and coal.

Frankly, my dear, I do give a damn.

And I give a damn about working on jobs, banks and the economy first: without fixing the “cisis” we cannot afford to fix the rest of the country and the world…..

And the swallow Obama media can’t be too smart: many of the newspapers that got behind Obama early and without criticism are now going out of business.  Even consevative talk radio guys that haven’t had the impact of the “Obama boost” inthe form of Rahm Emanuael’s orchestrated attacks, like Rush Limbaugh, are failing.

So here is the recipe for future success:

Mitch McConnell and other Republicans need to fight the Obama plan, slow down all non essential legislation, and get people to listen.

Then need to set down principles the way Newt did in the “Contract with America” and they need to stick to them the way Ron Silver did even when Hollywood wouldn’t hire him.

It’s the economy, stupid.

Principles, sticking to principles and getting the word out will work.  It worked before.

Republicans: If You Can’t Agree On Core Values Now, Commit Harakiri

March 13, 2009

Arch liberal Bush hater Dennis Kucinich (D-Ohio) was on the conservative Fox News Channel today to say, “Our country is being looted.”

If he can get this: so can all Republicans.

This is time for Republicans to stand united or die trying.  And for some that are on the fence like Maine’s Snowe and Collins and Arlen Specter of the Keystone state: we say adieu or seppuku.

Health care?  Good luck: but try to stand united.

Schools should be federalized and the White House is writing the legislation?  No brainer.

Spending at the rate of $1 billion an hour?  Unsustainable generational theft.  Even China is worried.

Energy: are you with Al Gore or against him?

Foreign policy?  Do you believe Iran, China, North Korea and the Taliban will play nice?

Terrorism: a word Obama has removed from the lexicon, is still maybe a threat?  What say you.

Corruption: Republicans want an end of corruption and total truth and honesty in government.  Right?

Time to ressurect the Newt style contract with what’s remaining of America before it is too late guys and gals….

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Daniel Flynn writes in today’s American Spectator, “If fiscal restraint, individual responsibility, the protection of human life, support for the 2nd Amendment and a robust military, and an abiding believe in American exceptionalism, are unpalatable to the likes of Frum, the left will certainly welcome him as the latest intellectual quisling, and exploit him for their own political designs.”

http://spectator.org/archives/200
9/03/13/frum-right-to-wrong

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