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2011
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November
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- Justin Bieber MUST STOP SINGING...!!!
- Barker's Newsbites: Wednesday, November 30, 2011
- Barker's Newsbites: Tuesday, November 29, 2011
- Barker's Newsbites: Monday, November 28, 2011
- Ho! Ho! Ho! Merry Thanksgiving 2011...!!!
- Barker's Newsbites: Wednesday, November 23, 2011
- Barker's Newsbites: Tuesday, November 22, 2011
- Nan Hayworth (R-NY-19) Can Drive Me Nuts...
- Barker's Newsbites: Monday, November 21, 2011
- Weekend Newsbites: Sat. & Sun., Nov. 19 & 20, 2011
- Barker's Newsbites: Friday, November 18, 2011
- Will Congresswoman Nan Hayworth (R-NY-19) Go Along?
- Barker's Newsbites: Thursday, November 17, 2011
- Barker's Newsbites: Wednesday, November 16, 2011
- Why I Don't Trust Congresswoman Nan Hayworth (R-NY)
- Barker's Newsbites: Tuesday, November 15, 2011
- Carl David VanDemark, Esq. v. Barker
- Barker's Newsbites: Monday, November 14, 2011
- Weekend Newsbites: Sat. & Sun., Nov. 12 & 13, 2011
- Barker's Newsbites: Friday, November 11, 2011
- Barker's Newsbites: Thursday, November 10, 2011
- I Hate Mitt Romney
- Barker's Newsbites: Wednesday, November 9, 2011
- Barker's Newsbites: Tuesday, November 8, 2011
- Barker's Newsbites: Monday, November 7, 2011
- Saturday Night's Cain-Gingrich Debate
- Weekend Newsbites: Sat. & Sun., Nov. 5 & 6, 2011
- Barker's Newsbites: Friday, November 4, 2011
- Barker's Newsbites: Thursday, November 3, 2011
- Barker's Newsbites: Wednesday, November 2, 2011
- Barker's Newsbites: Tuesday, November 1, 2011
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November
(31)
About Me
- William R. Barker
- Pearl River, NY High School Class of '81; Northeastern University, Boston, MA Class of '87.
8 comments:
* TWO-PARTER... (Part 1 of 2)
http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret.
* YEP. DEMPUBLICANS... REPUBLICRATS... KLEPTO-OLIGARCHS... AND A COMPLIANT MEDIA AND COMPROMISED JUDICIARY.
The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day.
* YEP...
Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy.
* YEP...
And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates...
* AH... BUT I AND OTHERS IN THE KNOW HAVE BEEN REPORTING THIS ALL ALONG. TRUE, WE HAD NO WAY OF COMING UP WITH THE ACTUAL FIGURES, BUT WE KNEW WHAT WAS GOING ON AND TOLD AS MANY PEOPLE AS WE COULD. IF ONLY THE MSM HAD DONE THE SAME. IF ONLY THE AVERAGE AMERICAN KNEW HOW BADLY HE (OR SHE) WAS GETTING SHAFTED VIA CRONY-CAPITALISTIC "SOFT" FASCISM.
A fresh narrative of the financial crisis of 2007 to 2009 emerges from 29,000 pages of Fed documents obtained under the Freedom of Information Act and central bank records of more than 21,000 transactions. While Fed officials say that almost all of the loans were repaid and there have been no losses, details suggest taxpayers paid a price beyond dollars as the secret funding helped preserve a broken status quo and enabled the biggest banks to grow even bigger.
(*NOD*)
The amount of money the central bank parceled out - $7.77 trillion - was surprising even to Gary H. Stern, president of the Federal Reserve Bank of Minneapolis from 1985 to 2009, who says he “wasn’t aware of the magnitude.”
(*SMIRK*)
It dwarfed the Treasury Department’s better-known $700 billion Troubled Asset Relief Program, or TARP.
* To be continued...
* CONCLUDING... (Part 2 of 2)
Bankers didn’t disclose the extent of their borrowing. On Nov. 26, 2008, then-Bank of America Corp. Chief Executive Officer Kenneth D. Lewis wrote to shareholders that he headed “one of the strongest and most stable major banks in the world.”
He didn’t say that his Charlotte, North Carolina-based firm owed the central bank $86 billion that day.
(*PURSED LIPS*)
* AND HAD HE SAID SO HE WOULD LIKELY HAVE BEEN PROSECUTED BY THE UNITED STATES GOVERNMENT. FOLKS... UNDERSTAND... THIS WASN'T "WALL STREET"... THIS WASN'T THE BANKS PULLING A SCAM... THIS WAS OFFICIAL U.S. GOVERNMENT POLICY!
JPMorgan Chase & Co. CEO Jamie Dimon told shareholders in a March 26, 2010, letter that his bank used the Fed’s Term Auction Facility “at the request of the Federal Reserve to help motivate others to use the system.”
He didn’t say that the New York-based bank’s total TAF borrowings were almost twice its cash holdings or that its peak borrowing of $48 billion on Feb. 26, 2009, came more than a year after the program’s creation.
(*JUST SHAKING MY HEAD*)
Lawmakers knew none of this. They had no clue that one bank, New York-based Morgan Stanley, took $107 billion in Fed loans in September 2008, enough to pay off one-tenth of the country’s delinquent mortgages.
Judd Gregg, a former New Hampshire senator who was a lead Republican negotiator on TARP, and Barney Frank, a Massachusetts Democrat who chaired the House Financial Services Committee, both say they were kept in the dark.
“We didn’t know the specifics,” says Gregg, who’s now an adviser to Goldman Sachs.
(*SNORT*)
* ...WHO IS NOW AN "ADVISOR" TO GOLDMAN SACHS, HUH?
(*SPITTING ON THE FLOOR*)
“We were aware emergency efforts were going on,” Frank says. “We didn’t know the specifics.”
* AND YET I DON'T RECALL OL' BARNEY MAKING A BIG STINK IN FRONT OF THE MEDIA ABOUT CONGRESS BEING KEPT OUT OF THE LOOP. REMEMBER, FOLKS... DEMOCRATS CONTROLLED BOTH HOUSES OF CONGRESS ALL THROUGH 2007... 2008... 2009... AND 2010.
Total assets held by the six biggest U.S. banks increased 39% to $9.5 trillion on Sept. 30, 2011, from $6.8 trillion on the same day in 2006, according to Fed data.
* OH... AND JUST TO REMIND FOLKS... BARAK HUSSEIN OBAMA HAS BEEN PRESIDENT SINCE JANUARY 2009.
(*SMIRK*)
Employees at the six biggest banks made twice the average for all U.S. workers in 2010, based on Bureau of Labor Statistics hourly compensation cost data. The banks spent $146.3 billion on compensation in 2010, or an average of $126,342 per worker, according to data compiled by Bloomberg. That’s up almost 20% from five years earlier compared with less than 15% for the average worker. Average pay at the banks in 2010 was about the same as in 2007, before the bailouts.
(*SARCASTIC CLAP-CLAP-CLAP*)
http://thehill.com/blogs/on-the-money/banking-financial-institutions/195645-maxine-waters-in-line-to-take-over-from-frank-on-financial-services
Wall Street executives are bracing for the possibility that Rep. Maxine Waters (D-Calif.) will take over as the senior Democrat on the House Financial Services Committee after Rep. Barney Frank (D-Mass.) retires.
* WATERS SHOULDN'T EVEN BE IN CONGRESS, LET ALONE HAVE A RESPONSIBLE POSITION! GOOGLE THE WOMAN! JEEZUS... FRANK WAS A DISASTER, BUT AT LEAST HE WAS HIGHLY INTELLIGENT IN TERMS OF RAW IQ. MAXINE WATERS IS A NUT-JOB!
The California liberal is considered Left of Frank...
* THE WOMAN IS A RADICAL SOCIALIST! AGAIN... DO YOUR OWN RESEARCH IF YOU DOUBT ME!
Waters is wrestling with a long-running ethics investigation over whether she helped secure federal funding for a bank in which her husband owned stock and previously served as a board member.
* AH... YES... SHE DID!
[T]wo attorneys on the House ethics committee were placed on leave for mishandling the case. An outside attorney is now investigating the matter.
* IF YOU'VE EVER ASKED THE QUESTION "COULD CONGRESS BE A GREATER LAUGHING STOCK" THE ANSWER IS "YES!" IF MAXINE WATER IS ALLOWED BY HER PEERS TO REPLACE BARNEY FRANK THAN YOU KNOW ALL HOPE IS LOST FOR RETURNING THE DEMOCRATIC PARTY TO SANITY.
http://campaignstops.blogs.nytimes.com/2011/11/27/the-future-of-the-obama-coalition/
For decades, Democrats have suffered continuous and increasingly severe losses among white voters. But preparations by Democratic operatives for the 2012 election make it clear for the first time that the party will explicitly abandon the white working class.
All pretense of trying to win a majority of the white working class has been effectively jettisoned in favor of cementing a center-left coalition made up, on the one hand, of...professors, artists, designers, editors, human resources managers, lawyers, librarians, social workers, teachers and therapists...and a second, substantial constituency of lower-income voters who are disproportionately African-American and Hispanic.
Democratic analysts [such] as Stanley Greenberg and Ruy Teixeira...both currently advocate a revised Democratic alliance in which whites without college degrees are effectively replaced by well-educated socially liberal whites in alliance with the growing ranks of less affluent minority voters, especially Hispanics.
* REMEMBER, FOLKS... THERE'S A HUGE, HUGE DIFFERENCE BETWEEN BEING TRULY EDUCATED VERSUS SIMPLY CREDENTIALED.
In the United States, Teixeira noted, “the Republican Party has become the party of the white working class..."
* THE GOP IS FAST BECOMING THE PARTY OF "THE WORKING" - PERIOD!
Teixeira, writing with John Halpin, argues...that in order to be re-elected, President Obama must keep his losses among white college graduates to the 4-point margin of 2008 (47-51) - otherwise he will not be able to survive a repetition of 2010, when white working-class voters supported Republican House candidates by a record-setting margin of 63-33.
Obama’s alternative path to victory, according to Teixeira and Halpin, would be to keep his losses among all white voters at the same level John Kerry did in 2004, when he lost them by 17 points, 58-41. This would be a step backwards for Obama, who lost among all whites in 2008 by only 12 points (55-43). Obama can afford to drop to Kerry’s white margins because, between 2008 and 2012, the pro-Democratic minority share of the electorate is expected to grow by two percentage points and the white share to decline by the same amount, reflecting the changing composition of the national electorate.
* DEMOGRAPHICS, MY FRIENDS... DEMOGRAPHICS.
Stanley Greenberg, a Democratic pollster and strategist and a key adviser to Bill Clinton’s 1992 campaign, wrote a memorandum earlier this month, together with James Carville, that makes no mention of the white working class. “Seizing the New Progressive Common Ground” describes instead a “new progressive coalition” made up of “young people, Hispanics, unmarried women, and affluent suburbanites.”
http://online.wsj.com/article/SB10001424052970204753404577064161615826128.html?mod=googlenews_wsj
When President Barack Obama jets to Scranton, Pa., Wednesday to promote his jobs package, he'll log his 56th event in a presidential battleground state this year, putting him well ahead of President George W. Bush's record-breaking swing-state travel in 2003.
* "CHANGE" INDEED...
Since Ronald Reagan, presidents have been venturing out of Washington to put legislative pressure on Congress, marshaling the power of local media coverage that always comes with a visit from Air Force One. But presidents in recent years have been pushed into electioneering more as the cost of campaigns have risen. And Mr. Obama has expanded the number of states considered battlegrounds, adding Virginia as a regular go-to for presidential events.
(The administration also has scheduled speeches and fund-raising by Obama cabinet secretaries.)
Between Jan. 1 and Nov. 17 of his third year in office, Bill Clinton held 40 events over 24 days in the battlegrounds of his time, according to data compiled by Brendan Doherty, a U.S. Naval Academy assistant professor who is widely viewed among political scientists as an expert on presidential travel.
Over that same stretch, George W. Bush held 49 events in 34 day...
Mr. Obama has surpassed his predecessors in both categories; as of Nov. 17, he attended 54 events in 11 battleground states over 42 days.
* YEP... "CHANGE."
Sean Spicer, a spokesman for the Republican National Committee, said Mr. Obama came to power promising to put politics aside and to unite the country. Instead, "he's been absent when it comes to leading," said Mr. Spicer. "But when it comes to campaigning and saving his own job, he is front and center." Presidential candidates blamed the failure of the congressional deficit-reduction super-committee on his inattention. Former Massachusetts Gov. Mitt Romney accused Mr. Obama of a "re-election obsession."
Most of the cost is typically borne by taxpayers.
* AND WE'RE NOT TALKING SMALL "CHANGE" EITHER! WE'RE TALKING MILLIONS OF DOLLARS!
http://www.nj.com/news/index.ssf/2011/11/number_of_nj_residents_on_food.html
The number of New Jersey residents receiving food stamps has doubled in the past four years...
* DISGUSTING.
[N]early one out of every 10 residents in New Jersey receives assistance.
(*JUST BANGING MY HEAD AGAINST THE DESK TOP*)
Larena Reed a 49-year-old Newark resident, has been on food stamps since 2007.
(*JUST THROWING MY HANDS UP IN FRUSTRATION*)
"All over the economy is so bad. We need these food stamps, there just isn’t enough money or jobs," Reed said Saturday while shopping at ShopRite in Hillside. "I don’t want welfare, (and) I can’t get unemployment anymore. We at least need food stamps to feed our family."
* FUCK YOU! GET A FUCKING JOB YOU LEECH!
Part of the growth in the food stamp program may be attributable to outreach efforts by the Department of Human Services. The state has "streamlined" the application process and launched a public awareness campaign over the past couple of years.
* FOLKS... UNDERSTAND... THEY'RE MARKETING THE GIVEAWAY OF YOUR TAX DOLLARS! THEY'RE TRYING TO GET MORE AND MORE PEOPLE DEPENDENT UPON FOOD STAMPS!!!
The state increased the income requirements from 130% above the federal poverty level to 185% in last year, meaning a family of four with an annual income of $41,364 is now eligible.
(*PLACING THE BARREL OF THE PISTOL IN MY MOUTH*)
Cecilia Zalkind, executive director of Advocates for Children of New Jersey, sees some good in the fact that more people are using food stamps.
* OF COURSE SHE DOES! HER LIVELIHOOD DEPENDS UPON A DYSFUNCTIONAL SOCIETY!
"It’s positive in that more families are accessing that assistance -it’s very important," she said.
(*FINGER TIGHTENING ON THE TRIGGER*)
http://www.foxbusiness.com/economy/2011/11/28/fitch-keeps-us-credit-rating-at-aaa-cuts-outlook-to-negative/
Fitch Ratings kept its pristine AAA rating on the U.S. on Monday, but the credit-ratings company downgraded its outlook to “negative” in the wake of the Supercommittee’s failure to find $1.2 trillion in spending cuts.
(*SMIRK*)
* FOLKS... OUR FEDERAL GOVERNMENT RETAINING A "TRIPLE A" RATING AFTER THE FAILURE OF THE "SUPERCOMMITTEE" TELLS YOU ALL YOU NEED TO KNOW ABOUT THE WORTHLESSNESS OF SUCH RATINGS. IT'S A RIGGED GAME.
[T]he negative outlook indicates a “slightly greater” than 50% chance that Fitch downgrades the U.S. over the next two years.
* BUT NOT NOW...??? COM'ON...!!! PURE POLITICS! THEY SIMPLY WON'T EMBARRASS OBAMA! THAT'S THE ONLY ANSWER I CAN COME UP WITH.
“Failure to reach agreement in 2013 on a credible deficit reduction plan and a worsening of the economic and fiscal outlook would likely result in a downgrade of the U.S. sovereign rating,” David Riley, a managing director at Fitch, said in the report.
(*SMIRK*)
* YEP. 2013. AFTER THE 2012 ELECTION.
Fitch warned that its revised fiscal projections call for federal debt held by the public to exceed 90% of gross domestic product and debt interest payments making up more than 20% of total tax revenues by the end of the decade.
“In Fitch's opinion, such a level of government indebtedness would no longer be consistent with the U.S. retaining its 'AAA' status despite its underlying strengths,” Riley said.
* SO... WHY DOESN'T THIS REALITY FORCE A DOWNGRADE NOW? WHY BOTHER WITH "REVISED FISCAL PROJECTIONS" IF YOU PLAN TO IGNORE THEM...???
http://www.myfoxdetroit.com/dpp/news/local/defense-factory-workers-party-at-lunch-20111122-ms
* MAKES YOU PROUD, HUH?
* BTW, I'M NOT AMUSED BY THE WAY FOX PLAYS CUTSY WITH THIS DISGUSTING STORY.
* FOLKS... AMERICA WITH A THIRD-WORLD POPULATION IS NO LONGER AMERICA. THINK ABOUT IT.
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