No, I am not saying they should be eliminated, they should all be fixed and should have been long ago. I am saying they are broke which is true. Decades of action and inaction by Congress has gotten us here and they just keep compounding the mess. I do support healthcare for those who cannot afford it, but not with this abomination.
When Congress puts and keeps themselves on the same level as the rest of us, in regard to the laws they enact, I may regain some trust in them doing their job. I know there are some who do care but they seem to be fewer and fewer and with less and less influence which does not speak well for the moral and ethical direction of this country. I noticed that the report that leaked out about the ethics committee's investigations had about 4 times more democrats than republicans and that gives me much food for thought.
where were the protests when Bush spent wildly, cut taxes that we couldn't afford and mismanaged 2 wars. Now people say we cannot afford health care for millions of Americans who are uninsured. You say "help is needed" but no where in any other country is there a "free market" health care system there is government involvement at some level some much higher than others.
someone has to enforce the laws. Congress only has the power of oversight and investigate. Look at Moody's McClatchy had a report last week that showed Moody's clearly had a profit motive to commit fraud. House Oversight Committee held hearings with former Moody's employees and there is a document in the record by someone who testified warning his superiors of potential fraud and misrepresentations.
If something is uncovered someone or some entity must be held accountable.
If we want to address the huge level of cynicism and distrust of financial sector on the part of most Americans then we must pursue allegations of fraud to the fullest.
As far as I know, the people who attended the so called Tea Party rallies have no distinct policy. They are people who are honestly concerned about government taking more control of our lives and another big government program doomed to the same failure as the Medicare, Medicaid, Social Security etc. Help is needed in the healthcare of our citizens, but not in this form. We can NOT afford this plan. If Obama lived up to his pledge not to add one penny to the debt we would have nothing to worry about, but in reviewing what has already taken place in his administration this will not be the case. Congress for decades has been taking this country into a place no one wants to be. Until they include themselves and other federal employees in any law, affecting any American citizens, on any subject and on an equal basis they cannot fairly enact anything. The stimulus bills and tax credits were enacted with little or no checks and balances and no accountability. And we are to trust them. No way
But Congress should take up what this article discovered, no doubt about it and ask why the S.E.C. isn't investigating....and we should see what these various states do too.
I'd say that sitting in on the AIG bail out and then getting a 100% payout from AIG on CDSes is a huge issue that should be investigated at minimum.
CIT listed $71 billion in assets and $64.9 billion in debt in a Chapter 11 filing in U.S. Bankruptcy Court in Manhattan. The U.S. Treasury Department said the government probably won’t recover much, if any, of the $2.3 billion in taxpayer money that went to CIT.
CIT, which reported $3 billion of losses in the past eight quarters, received $2.3 billion from the U.S. Treasury on Dec. 31 when it purchased preferred stock and warrants. The company wasn’t given access to the FDIC’s debt-guarantee program.
“We will be following developments very closely with an eye towards protecting taxpayers during the bankruptcy proceeding,” Treasury spokesman Andrew Williams said today in an e-mailed statement. “But as the company’s disclosure on the prepackaged bankruptcy makes clear, with debt holders receiving less than face value of their instruments, recovery to preferred and common equity holders will be minimal.”
From what I can tell, although I'm not tracking, the policies proposed by "tea parties" would make things even worse. That's the problem, it's not that Stimulus was not needed, it was, it's the details, it's the directed funds. Obviously using Stimulus money to create jobs in China or India is not the concept of Keynesian temporary deficit spending. The idea was to give income directly into the hands of citizens, to spur demand.
“racketeering activity” means ... (D) any offense involving fraud connected with a case under title 11 (except a case under section 157 of this title), fraud in the sale of securities, or the felonious manufacture, importation, receiving, concealment, buying, selling, or otherwise dealing in a controlled substance or listed chemical (as defined in section 102 of the Controlled Substances Act), punishable under any law of the United States,
I am not familiar with the case law in this area but the language of the RICO Statute certainly sounds interesting.
I read in one of my daily economic reports that Mr. Obama wants credit for the supposed 3.5 economic growth. I had composed a letter to the White House asking if this took into account all of the tax credits, stimulus checks etc and were they deducted before they claimed a 3.5 growth. I decided to check the internet first and found this site which confirms my suspicions, no growth, and the fact that the 4th quarter and probably longer has been raped of sales because of our money being thrown at the public to make it look good. And next comes the appliances. If I see consistent and true economic growth and people back to work at the end of 2 years I will eat my words and apologize to all of my friends that I bugged so badly this year. I am still so frightened for our family's and friend's futures after the decades of insanity in Washington.
I am proud to be a member of the Tea Party rather than a Boot Licker
The Racketeer Influenced and Corrupt Organizations (RICO) statute, or Title 18 of the United States Code, Section 1961(4), defines an enterprise as "any individual, partnership, corporation, association, or other legal entity, and any union or group of individuals associated in fact although not a legal entity."
I wrote about this a few months ago, how China was buying up every oil contract they could get their hands on.
Yet, in the U.S. do you ever feel like screaming, "wake the f**@ up America"?
While absurd corporate lobbyist driven argument continues, China is plain out to kick our ass and become the world economic leader and the U.S. just plain handed our economy to them.
It's like we have a national strategy to guarantee we lose, they win.
About two years I drafted a 10-plank program to save America. At the time I was unaware of FDR's program of the same name. But we both have the same goal: preserving the American Middle Class:
exactly what i thought would happen, all the green tech manufacturing jobs like turbines and solar panels would be created in china. this countries economy is doomed
It's worth noting that CIT isn't on that list, eventhough it might declare bankruptcy as soon as Sunday.
$19 Billion is nothing to sneeze at. I don't see an estimate of how much this will cost the taxpayers. That information is usually in the FDIC new release.
to save some of these local and regional banks. This is just a select few, of course the ones responsible for this mess, get saved while the smaller ones go under.
Talk about nice way to remove competition and choice.
As far as a bank holiday goes, well that was done when they had some reforms to implement. Today we have lobbyists and watered down or make it worse reforms in the queue.
“I don’t think so,” Geithner said, when asked whether commercial real estate could set off another banking meltdown. “That’s a problem the economy can manage through even though it’s going to be still exceptionally difficult.”
......
“You can say now with confidence that the financial system is stable, the economy is stabilized,” Geithner said. “You can see the first signs of growth here and around the world.”
No, I am not saying they should be eliminated, they should all be fixed and should have been long ago. I am saying they are broke which is true. Decades of action and inaction by Congress has gotten us here and they just keep compounding the mess. I do support healthcare for those who cannot afford it, but not with this abomination.
When Congress puts and keeps themselves on the same level as the rest of us, in regard to the laws they enact, I may regain some trust in them doing their job. I know there are some who do care but they seem to be fewer and fewer and with less and less influence which does not speak well for the moral and ethical direction of this country. I noticed that the report that leaked out about the ethics committee's investigations had about 4 times more democrats than republicans and that gives me much food for thought.
Are you suggesting we eliminate social security, medicare and medicaid?
If we do, do you have a suggestion for keeping millions and millions of senior citizens out of complete poverty?
And denying poor people access to health care?
RebelCapitalist.com - Financial Information for the Rest of Us.
where were the protests when Bush spent wildly, cut taxes that we couldn't afford and mismanaged 2 wars. Now people say we cannot afford health care for millions of Americans who are uninsured. You say "help is needed" but no where in any other country is there a "free market" health care system there is government involvement at some level some much higher than others.
RebelCapitalist.com - Financial Information for the Rest of Us.
someone has to enforce the laws. Congress only has the power of oversight and investigate. Look at Moody's McClatchy had a report last week that showed Moody's clearly had a profit motive to commit fraud. House Oversight Committee held hearings with former Moody's employees and there is a document in the record by someone who testified warning his superiors of potential fraud and misrepresentations.
If something is uncovered someone or some entity must be held accountable.
If we want to address the huge level of cynicism and distrust of financial sector on the part of most Americans then we must pursue allegations of fraud to the fullest.
RebelCapitalist.com - Financial Information for the Rest of Us.
As far as I know, the people who attended the so called Tea Party rallies have no distinct policy. They are people who are honestly concerned about government taking more control of our lives and another big government program doomed to the same failure as the Medicare, Medicaid, Social Security etc. Help is needed in the healthcare of our citizens, but not in this form. We can NOT afford this plan. If Obama lived up to his pledge not to add one penny to the debt we would have nothing to worry about, but in reviewing what has already taken place in his administration this will not be the case. Congress for decades has been taking this country into a place no one wants to be. Until they include themselves and other federal employees in any law, affecting any American citizens, on any subject and on an equal basis they cannot fairly enact anything. The stimulus bills and tax credits were enacted with little or no checks and balances and no accountability. And we are to trust them. No way
But Congress should take up what this article discovered, no doubt about it and ask why the S.E.C. isn't investigating....and we should see what these various states do too.
I'd say that sitting in on the AIG bail out and then getting a 100% payout from AIG on CDSes is a huge issue that should be investigated at minimum.
seems like the CRE implosion is upon us.
CIT just filed for bankruptcy.
CIT is the 5th largest bankruptcy in history.
From what I can tell, although I'm not tracking, the policies proposed by "tea parties" would make things even worse. That's the problem, it's not that Stimulus was not needed, it was, it's the details, it's the directed funds. Obviously using Stimulus money to create jobs in China or India is not the concept of Keynesian temporary deficit spending. The idea was to give income directly into the hands of citizens, to spur demand.
Title 18 U.S.C. Chap. 86 Sec. 1961 - Definition:
I am not familiar with the case law in this area but the language of the RICO Statute certainly sounds interesting.
RebelCapitalist.com - Financial Information for the Rest of Us.
I read in one of my daily economic reports that Mr. Obama wants credit for the supposed 3.5 economic growth. I had composed a letter to the White House asking if this took into account all of the tax credits, stimulus checks etc and were they deducted before they claimed a 3.5 growth. I decided to check the internet first and found this site which confirms my suspicions, no growth, and the fact that the 4th quarter and probably longer has been raped of sales because of our money being thrown at the public to make it look good. And next comes the appliances. If I see consistent and true economic growth and people back to work at the end of 2 years I will eat my words and apologize to all of my friends that I bugged so badly this year. I am still so frightened for our family's and friend's futures after the decades of insanity in Washington.
I am proud to be a member of the Tea Party rather than a Boot Licker
RebelCapitalist.com - Financial Information for the Rest of Us.
Moody's and Goldman Sachs. We are talking allegations of "Criminal Enterprise". It sounds like a pattern of fraud in both Moody's and Goldman Sachs.
Where is the 'disgorgement' of profits? These fines are a joke.
RebelCapitalist.com - Financial Information for the Rest of Us.
Bloomberg.
Also reported is how China will emerge the "winner" from the financial crisis and the U.S. the "loser".
Who controls the oil, controls the world.
I wrote about this a few months ago, how China was buying up every oil contract they could get their hands on.
Yet, in the U.S. do you ever feel like screaming, "wake the f**@ up America"?
While absurd corporate lobbyist driven argument continues, China is plain out to kick our ass and become the world economic leader and the U.S. just plain handed our economy to them.
It's like we have a national strategy to guarantee we lose, they win.
About two years I drafted a 10-plank program to save America. At the time I was unaware of FDR's program of the same name. But we both have the same goal: preserving the American Middle Class:
http://www.youtube.com/watch?v=bdEtFEzyShM
exactly what i thought would happen, all the green tech manufacturing jobs like turbines and solar panels would be created in china. this countries economy is doomed
It's worth noting that CIT isn't on that list, eventhough it might declare bankruptcy as soon as Sunday.
$19 Billion is nothing to sneeze at. I don't see an estimate of how much this will cost the taxpayers. That information is usually in the FDIC new release.
to save some of these local and regional banks. This is just a select few, of course the ones responsible for this mess, get saved while the smaller ones go under.
Talk about nice way to remove competition and choice.
As far as a bank holiday goes, well that was done when they had some reforms to implement. Today we have lobbyists and watered down or make it worse reforms in the queue.
There you have it. Treasury Secretary Geithner says not to worry there is nothing to see here:
RebelCapitalist.com - Financial Information for the Rest of Us.
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