Tuesday, July 12, 2011
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July
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- No Newsbites This Weekend
- Did Peggy Noonan Visit Usually Right...?
- Yet Another Car Rant...
- If Your Member of Congress Isn't On This List...
- The Connie Mack Plan
- Just a quick question...
- Barker's Newsbites: Friday, July 29, 2011
- Barker's Newsbites: Thursday, July 28, 2011
- A Response to Dr. Nan Hayworth (R-NY-19)
- Barker's Newsbites: Wednesday, July 27, 2011
- Perhaps Congresswoman Dr. Nan Hayworth Will Listen...
- If Nan Hayworth Won't Listen To Me...
- I Fear Boehner, Cantor, and Even Dr. Nan Hayworth ...
- (*CLAP-CLAP-CLAP*)
- Barker's Newsbites: Tuesday, July 26, 2011
- Barker's Newsbites: Monday, July 25, 2011
- Weekend Newsbites: Sat. & Sun., July 23 & 24, 2011
- Barker's Newsbites: Friday, July 22, 2011
- Barker's Newsbites: Thursday, July 21, 2011
- Barker's Newsbites: Wednesday, July 20, 2011
- Barker's Newsbites: Tuesday, July 19, 2011
- Barker's Newsbites: Monday, July 18, 2011
- Barker's Newsbites: Friday July 15th, 2011
- Barker's Newsbites: Thursday, July 14, 2011
- Barker's Newsbites: Wednesday, July 13, 2011
- Barker's Newbites: Tuesday, July 12, 2011
- Barker's Newsbites: Monday, July 11, 2011
- Explain to me one more time...
- Weekend Newsbites: Sat. & Sun., July 9 & 10, 2011
- The Necessity of Newsbites
- Barker's Newsbites: Friday, July 8, 2011
- Barker's Newsbites: Thursday, July 7, 2011
- Barker's Newsbites: Wednesday, July 6, 2011
- Barker's Newsbites: Tuesday, July 5, 2011
- Happy 4th of July!
- Weekend Newsbites: Sat. & Sun., July 2 & 3, 2011
- Barker's Newsbites: Friday, July 1, 2011
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July
(37)
About Me
- William R. Barker
- Pearl River, NY High School Class of '81; Northeastern University, Boston, MA Class of '87.
7 comments:
http://www.humanevents.com/article.php?id=44791
* BY PATRICK J. BUCHANAN
"The Disappearing Black Middle Class" ran the headline over the Chicago Sun-Times story. And the statistics from the Economic Policy Institute were indeed sobering. In 2007, best year of the Bush era, white households had a median net worth of $134,280, compared with $13,450 for black households.
By 2009...
* THE FIRST YEAR OF THE OBAMA PRESIDENCY BUT THE THIRD YEAR OF THE PELOSI/REID DEMOCRATIC CONGRESS...
...the median net worth for white households had fallen 24% to $97,860.
* BUT WAIT!
(*DRUM ROLL*) WAIT FOR IT... WAIT FOR IT...
For black households, it had plummeted 83% to $2,170, a near wipeout.
* CHANT IT WITH ME, FOLKS:
DEM-O-CRATS!
HOPE AND CHANGE!
DEM-O-CRATS!
HOPE AND CHANGE!
DEM-O-CRATS!
HOPE AND CHANGE!
One explanation for this surely is the wave of foreclosures on subprime mortgages, a large share of which were held by African-Americans.
* YEP! (AND REMIND ME... WHICH PARTY - PRIMARILY, IN UNISON, LED BY FOLKS LIKE BARNEY FRANK AND CHRIS DODD - ACTED AS THE "PUSHER" FOR SUCH SUBPRIME MORTGAGES...?) (*SIGH*)
[W]hile unemployment among white men has surged in the Great Recession, among black men it has hit 16%, the highest level since the Department of Labor began to keep records in 1972.
* CHANT IT WITH ME, FOLKS:
O-BAM-A!
O-BAM-A!
O-BAM-A!
* FOLKS... I STRONGLY URGE YOU TO UTILIZE THE LINK PROVIDED AND READ THE FULL ESSAY FOR YOURSELF. THERE'S SOME FASCINATING DATA THERE!
* TWO-PARTER... (Part 1 of 2)
http://online.wsj.com/article/SB10001424052702304760604576423670655568418.html?mod=opinion_newsreel
BY PETER WALLISON -- WHO SERVED AS A MEMBER OF THE FINANCIAL CRISIS INQUIRY COMMISSION AND DISSENTED FROM THE MAJORITY COVER-UP REPORT
When the Financial Crisis Inquiry Commission (FCIC) reported in January that the 2008 crisis was caused by lax regulation, greed on Wall Street and faulty risk management at banks and other financial firms, few were surprised. That, after all, was the narrative propagated by government sources since 2008 and widely accepted in the media...
(*SIGH*) (*NOD*)
The notion that the "banks led us into" the financial crisis echoes the narrative of the FCIC's Democratic majority, which placed the blame for the financial crisis on the private sector and dismissed the idea that government housing policy could have been responsible.
* AND FOLKS... AS WE ALL KNOW... IT WAS GOVERNMENT HOUSING POLICY - AND (MAINLY) DEMOCRAT HONCHOS AT FANNIE AND FREDDIE - WHO WERE RESPONSIBLE FOR CAUSING THE CRISIS EVEN AS THEY LINED THEIR OWN POCKETS.
According to the FCIC majority report, the government's housing policies - led by the Department of Housing and Urban Development and the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac - contributed only "marginally" to the crisis.
(*SNORT*) (*SPITTING ON THE GROUND*)
Moreover, Fannie and Freddie "followed rather than led Wall Street and other lenders" into the sub-prime and other risky mortgage lending that ultimately caused the financial crisis.
(*ROLLING MY EYES*) YEAH... RIGHT... (*SMIRK*)
With the publication of "Reckless Endangerment," a new book about the causes of the crisis, this story is beginning to unravel. The authors, Gretchen Morgenson, a business reporter and commentator for the New York Times, and Josh Rosner, a financial analyst, make clear that it was Fannie Mae and the government housing policies it supported, pursued and exploited that brought the financial system to a halt in 2008.
* MANY OF YOU WILL BE RECEIVING THIS BOOK AS A CHRISTMAS PRESENT THIS YEAR!
* To be continued...
* CONTINUING... (Oops! Make this a three-parter!) (Part 2 of 3)
After James A. Johnson, a Democratic political operative and former aide to Walter Mondale, became chairman of Fannie Mae in 1991, they note, it became a political powerhouse, intimidating and suborning Congress and tying itself closely to the Clinton administration's support for the low-income lending program called "affordable housing."
* SEE THE PRECEDING NEWSBITE CONCERNING HOW THE DEMS... er... "DISPROPORTIONALLY" SCREWED BLACK AMERICANS.
This program required subprime and other risky lending, but it solidified Fannie's support among Democrats and some Republicans in Congress, and enabled the agency to resist privatization or significant regulation until 2008. "Under Johnson," write Ms. Morgenson and Mr. Rosner, "Fannie Mae led the way in encouraging loose lending practices among banks whose loans the company bought. . . . Johnson led both the private and public sectors down a path that led directly to the financial crisis of 2008."
The authors are correct. Far from being a marginal player, Fannie Mae was the source of the decline in mortgage underwriting standards that eventually brought down the financial system. It led rather than followed Wall Street into risky lending.
* READ ON...! READ ON...! GET THIS FOLKS:
This history does not appear in the FCIC majority report...
Mr. Johnson was not among the more than 700 witnesses the commission claims to have interviewed.
(*SNICKER*) IMAGINE THAT...! MUST HAVE BEEN AN... er... OVERSIGHT ON THE PART OF THE DEMOCRATIC CHAIRMAN. (*SMIRK*)
Edward Pinto (a former chief credit officer of Fannie Mae, and now a colleague at the American Enterprise Institute) presented the evidence to the commission showing that by 2008 half of all mortgages in the U.S. (27 million loans) were subprime or otherwise risky, and that 12 million of these loans were on the books of the GSEs. The research he gave the commission also showed that two-thirds of these subprime or risky loans were on the books of government agencies or firms subject to government control.
[T]hese facts were left out of the majority report.
(*JUST SHAKING MY HEAD IN DISGUST*)
[The facts] did not fit with the narrative that the financial crisis was caused by the private sector, and they moved the blame uncomfortably close to the powerful figures in Congress who had supported the GSEs and the affordable housing goals over many years - and of course who appointed the majority of the commission.
* FOLKS... AGAIN... ABSENT VIOLENCE HOW DO WE FUMIGATE WASHINGTON? (YOU FOLKS DO RECALL THAT CHARLE RANGEL WAS RE-ELECTED TO CONGRESS BY THE FINE CITIZENS OF HIS DISTRICT, DON'T YOU; YOU REALIZE THAT THERE ARE MANY GERRYMANDERED DISTRICTS LIKE CHARLE'S WHERE AS LONG AS YOU'RE THE DEMOCRATIC CANDIDATE (AND YES, IT THIS APPLIES TO MANY "REPUBLICAN" DISTRICTS AS WELL) YOU'RE GONNA BE ELECTED TIME AND AGAIN COME WHAT MAY.
* FOLKS... I'M NOT PERSONALLY THREATENING ANYONE... BUT AS A MATTER OF "THEORY," I MUST ADMIT THAT I DO PERCEIVE THAT TARGETED VIOLENCE IS INDEED THE ONLY ANSWER.
* To be continued...
* CONCLUDING... (Part 3 of 3)
The commission majority's false narrative...buttresses the notion that more regulation of banks and other private-sector financial institutions could have prevented the financial crisis - and might be necessary to prevent another one. This was the rationale for the Dodd-Frank Act.
* WHICH IS AN ORWELLIAN BILL WHICH BASICALLY DOES EXACTLY THE OPPOSITE OF WHAT IT WAS SOLD TO BE. DODD-FRANK BASICALLY INSTITUTIONALIZES "TOO BIG TO FAIL."
The principal sponsors of that Dodd-Frank Act, former Sen. Chris Dodd and former House Financial Services Committee Chair Barney Frank, were also the principal supporters and political protectors of Fannie Mae and Freddie Mac, and the government housing policies they implemented.
(*SMIRK*) AS PREVIOUSLY NOTED... (*NOD*)
It is little wonder then that legislation named after them would place the blame for the financial crisis solely on the private sector and do nothing to reform a government-backed housing finance system that will increasingly be seen as the primary cause of the devastating events of 2008.
* GOD HELP THIS ONCE GREAT NATION...
http://www.cbsnews.com/8301-503544_162-20078789-503544.html
President Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks August 3 if Democrats and Republicans in Washington do not reach an agreement on reducing the deficit in the coming weeks.
* WELL, FOLKS... LOOK WHO IS THREATENING AMERICA'S SENIORS NOW.
"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News.
* AND THAT IS A LIE. A DIRECT LIE. NOT AN EQUIVICATION. NOT A DEBATEABLE POSITION. IT'S A BOLDFACED LIE.
Mr. Obama told Pelley "this is not just a matter of Social Security checks. These are veterans checks, these are folks on disability and their checks. There are about 70 million checks that go out."
* AND AS OBAMA WELL KNOWS, THERE'S MORE THAN ENOUGH REVENUE TO COVER ALL *DEBTS* - ALL INTEREST ON TREASURY BILLS - AND CERTAINLY ENOUGH TO CONTINUE ISSUING SOCIAL SECURITY CHECKS.
* FOLKS... UNDERSTAND... WHAT OBAMA IS DOING IS THREATENING TO DELIBERATELY MIS-PRIORITIZE THE EXISTING FEDERAL REVENUE STREAM. AGAIN, THERE'S PLENTY OF MONEY TO PAY BOTH INTEREST ON TREASURY BONDS AND TO CONTINUE SENDING OUT SOCIAL SECURITY CHECKS, PAY THE MILITARY, ETC.
Senate Republican Leader Mitch McConnell said in remarks on the Senate floor..."The president has presented us with three choices: smoke and mirrors, tax hikes, or default. Republicans choose none of the above. I had hoped to do good, but I refuse to do harm. So Republicans will choose a path that actually reflects the will of the people, which is to do the responsible thing and ensure that the government doesn't default on its obligations."
* IN OTHER WORDS, REPUBLICANS ARE SAYING WE EITHER REACH A DEAL THAT MAKES REAL CUTS OF LESS THAN 40% (WHAT THE GOVERNMENT BORROWS EACH YEAR - 40-CENTS OUT OF EVERY DOLLAR SPENT) OR ELSE WHEN WE REACH THE WALL (BTW, THAT'S WHY IT'S CALLED THE DEBT CEILING - BECAUSE IT'S SUPPOSED TO BE A CEILING ON THE DEBT!) WE'LL HAVE TO CONTINUE GOVERNMENT OPERATIONS USING ONLY THE MONEY WHICH THE GOVERNMENT RAISES IN TAXES.
* FOLKS... THE FACT THAT CBS NEWS REFUSES TO EVEN ADDRESS THE QUESTION - ADDRESS IT DIRECTLY - OF WHETHER THERE'S ENOUGH MONEY TO COVER TREASURY BOND INTEREST PAYMENTS AND SOCIAL SECURITY CHECK DEMONSTRATES HOW IN THE BAG THEY ARE FOR OBAMA. THEY REFUSE TO IDENTIFY HIS LIES AS LIES. (*SHRUG*)
http://washingtonexaminer.com/blogs/beltway-confidential/2011/07/lobbyists-give-lawmakers-through-honorary-fees
* FILE UNDER: DISGUSTING
Federal law limits how much corporate political action committees (PACs) can give to members of Congress, but high-powered K Street lobbysts have found a loophole that enables them to give an estimated $50 million to senators and representatives.
The gifts are in the form of dinners "honoring" the congressmen, according to the Sunlight Foundation, which released a report today describing how lobbysts are using the loophole to direct millions of dollars to influential members of Congress.
Executive branch officials, including the president, can also be honored by such events.
* YOU MEAN EVEN THIS PRESIDENT...? THE ONE WHO CAMPAIGNED AGAINST TOO MUCH MONEY IN POLITICS... AND THEN TURNED AROUND AND REFUSED PUBLIC FUNDING SO THAT HE COULD TAKE GOLDMAN SACHS, AND BP OIL MONEY, ETC.? (*SMIRK*)
But it's not just honoring dinners that are used by lobbyists to circumvent campaign contribution limits, according to Sunlight: "They also cover underwriting a conference or retreat held by officials, donating to a lawmaker’s charity and even giving to a nonprofit where a lawmaker sits on the board of directors. These situations, and some others, all fall under what the rule-makers - the Senate secretary and House clerk - call honorary and meeting expenses."
* BUCKLE YOUR SEATBELTS, FRIENDS, 'CAUSE HERE IT COMES... (KEEP READING...!!!)
The biggest spenders were Chevron and Wal-Mart, which donated $2.9 million and $2.2 million respectively. And the biggest recipients were the Congressional Black Caucus with over $6 million, the Congressional Hispanic Caucus with over $4 million and President Barack Obama with over $1 million.
* IS ANYONE... ANYONE AT ALL... SURPRISED?
Nine of the top 10 recipients were Democrats, or in the case of the two ethnic caucus groups, heavily oriented to the Democratic Party.
* AGAIN... SURPRISED...? ANYONE...? ANYONE AT ALL...?!
* OH... AND GUESS WHO #10 IS! (NOPE... NOT BOEHNER... NOPE... NOT MCCONNELL... NOPE... NOT RON PAUL OR MICHELLE BACHMANN OR PAUL RYAN OR SARAH PALIN... (KEEP READING...!!!)
The lone top 10 recipient not associated with Democrats is Gen. David Petraus, recently appointed by President Obama as director of the CIA.
(*LAUGHING OUT LOUD TILL THE TEARS OF MIRTH START FLOWING DOWN MY CHEEKS*)
"Of the over $50 million in these reports, firms employing lobbyists spent $36.3 million honoring members of Congress and $11 million honoring executive branch officials in 2009 and 2010 In addition, nearly $645,000 went to legislative branch employees - mostly congressional staffers - the reports showed," Sunlight said in a news release describing the study.
* FOLKS... YA CAN'T MAKE THIS STUFF UP...!!!
http://washingtonexaminer.com/politics/2011/07/fresh-doubt-cast-obamas-health-care-story
* JUST FOLLOW THE LINK AND READ THE ARTICLE. I'M TOO DISGUSTED TO EVEN "BARKERIZE" IT INTO NEWSBITE FORM.
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