Obama: "UPS and FedEx are doing just fine. It's the Post Office that's always having problems"

"UPS and FedEx are doing just fine. It's the Post Office that's always having problems"

 

Exactly Mr. President, Exactly.

Is there any doubt these folks deserve to be starved of cash???

Not A Single Cent More!  Ever!  Ever!!!

Conyers Sees No Point in Members Reading 1,000-Page Health Care Bill--Unless They Have 2 Lawyers to Interpret It for Them

Monday, July 27, 2009
By Nicholas Ballasy, Video Reporter

(CNSNews.com) - During his speech at a National Press Club luncheon, the chairman of the House Judiciary Committee, Democratic Congressman John Conyers (D-Mich.), questioned the point of lawmakers reading the health care bill.

“I love these members, they get up and say, ‘Read the bill,’” said Conyers.

“What good is reading the bill if it’s a thousand pages and you don’t have two days and two lawyers to find out what it means after you read the bill?”

 

Forbes.com - Magazine Article

I have heard this was coming from some of our past exchange student sons and daughters.  It's our crystal ball into the future!

Forbes.com - Magazine Article

Sweden's Public Downsizing
Anita Raghavan, 08.03.09, 12:00 AM ET

Think the answer to America's problems is bigger government? Swedish Finance Minister Anders Borg has seen the result up close and says it's not pretty for the economy or investors.

Anders Borg has a message for those who look to government to take over health care, rescue the financial system and run troubled corporations: I have seen the future--and it doesn't work.

Bailouts could cost U.S. $23 trillion

Wow!!

 

Bailouts could cost U.S. $23 trillion

A series of bailouts, bank rescues and other economic lifelines could end up costing the federal government as much as $23 trillion, the U.S. government’s watchdog over the effort says – a staggering amount that is nearly double the nation’s entire economic output for a year.

The Small Business Surtax - WSJ.com

Why should anyone be surprised the Democrats are going to substantially raise taxes - especially on the small business owner.  It's what they do.

 

The Small Business Surtax - WSJ.com

The Obama Democrats pick income redistribution over job creation and economic growth.

Jason Furman owes an apology to Michael Boskin, the Stanford economist who wrote a year ago on these pages that Barack Obama would raise American income tax rates nearly to 60%. Mr. Furman, then in the Obama campaign and now at the White House, claimed this was wrong and that Democrats would merely raise taxes back to their Clinton-era level.

House Democrats are now proving that Mr. Boskin had it right, and before it's over even he may have underestimated how high taxes will go. In the middle of a recession and with rising unemployment, Democrats have been letting it leak that they want to raise U.S. tax rates higher than they've been in nearly 30 years in order to finance government health care.

CNSNews.com - Federal Government Was Culprit in Housing and Economic Crisis, Says Congressional Report

This has  been common knowledge since 2001 and Bush’s first budget proposal to congress.  Time for Franks to do a little time!

CNSNews.com - Federal Government Was Culprit in Housing and Economic Crisis, Says Congressional Report

Wednesday, July 08, 2009
By Fred Lucas, Staff Writer

Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee. (AP Photo)

Washington (CNSNews.com) – Fannie Mae and Freddie Mac were the chief culprits in the housing crisis because they encouraged people who could not afford payments to borrow money, according to a congressional report released Tuesday.

 

CNSNews.com - Federal Government Was Culprit in Housing and Economic Crisis, Says Congressional Report

This has  been common knowledge since 2001 and Bush’s first budget proposal to congress.  Time for Franks to do a little time!

CNSNews.com - Federal Government Was Culprit in Housing and Economic Crisis, Says Congressional Report

Wednesday, July 08, 2009
By Fred Lucas, Staff Writer

Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee. (AP Photo)

Washington (CNSNews.com) – Fannie Mae and Freddie Mac were the chief culprits in the housing crisis because they encouraged people who could not afford payments to borrow money, according to a congressional report released Tuesday.

 

"Tyrannosaurus Debt" ~ Schoolhouse Rock

Perhaps a cartoon would be understandable to our Congressmen.

What a terrific job!!!

The Costs of the Cap-and-Trade Bill

The article speaks for itself.  Read it all.

 

The Costs of the Cap and Trade Bill

By Robert Zubrin
Special to Roll Call

July 1, 2009, 9:45 a.m.

On June 25, the House passed the Waxman-Markey climate stabilization act, which would institute a cap-and-trade system to restrict Americans’ carbon emissions. While proponents of the bill have sought to argue that the costs of such a system would be negligible, nothing could be further from the truth. In fact, the bill proposes a massive and highly regressive tax on the U.S. economy, and could potentially cause not only extensive business failures, unemployment and privation within our borders, but starvation among poorer populations elsewhere.

IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- A Debt The Founders Wouldn't Believe

Obama is a disgrace to our founders.  Listen to their words

IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- A Debt The Founders Wouldn't Believe

By SEN. JUDD GREGG | Posted Friday, June 26, 2009 4:20 PM PT

In a 1789 letter to James Madison, Thomas Jefferson wrote: "The earth belongs to each of these generations, during its course, fully, and in their own right. The 2d. generation receives it clear of the debts and encumbrances of the 1st. The 3d of the 2d. and so on. For if the 1st. could charge it with a debt, then the earth would belong to the dead and not the living generation. Then no generation can contract debts greater than may be paid during the course of its own existence."

 

Obama's Mistakes: Chancellor Merkel Visits the Debt President - SPIEGEL ONLINE - News - International

Even the Germans see that the worst is yet to come

Obama's Mistakes: Chancellor Merkel Visits the Debt President - SPIEGEL ONLINE - News - International

By Gabor Steingart

The occupant of the White House may have changed recently. But the amount of ill-advised ideology coming from Washington has remained constant. Obama's list of economic errors is long -- and continues to grow.

 

Is Global Warming Part of Earth's Natural Cycle: MIT Team Says "Yes" -A Galaxy Insight

What, warming a natural cycle??  This from the ignorant twits at MIT???  I am appalled!  Appalled I tell you!!

Is Global Warming Part of Earth's Natural Cycle: MIT Team Says "Yes" -A Galaxy Insight

A team of MIT scientists recorded a nearly simultaneous world-wide increase in methane levels -the first increase in ten years. What baffles the team is that this data contradicts theories stating humans are the primary source of increase in greenhouse gas. It takes about one full year for gases generated in the highly industrial northern hemisphere to cycle through and reach the southern hemisphere. Since all worldwide levels rose simultaneously throughout the same year, however, it is probable that this may be part of a natural cycle - and not the direct result of man's contributions.

Peer-Reviewed articles??? There ain't no stinking Peer-Reviewed articles!!!

This is a typical argument given by man made global warming by the global warming truthers.  But. . . . .  what if there were??

 

Peer-Reviewed Articles Skeptical Of Man-Caused Global Warming

Here are many "Peer-Reviewed" articles that should end the belief that "the debate is over" about global warming. It should also destroy the illusion that there is a "consensus" amongst scientists about the causes of global warming. Those propagating the myth of man-caused global warming are simply distorting reality and the facts.....and that is putting it politely.
Peter

Who will invest in America's future with Obama's bad behavior??

Given Obama's bad behavior during the Chrysler and GM bailout, who is going to invest in these companies (or similar ones) in the future??

BAILOUT FALLOUT - HOW O'S GM DEAL HURTS NYC

Last updated: 1:49 am
June 19, 2009
Posted: 1:35 am
June 19, 2009

THE next time he sees President Obama, Mayor Bloomberg should lay out how the White House's auto-industry bailouts have hit hard at US financial markets -- and so hurt New York's future.

To please the United Auto Workers union, the president hacked away at a key cornerstone of markets: respect for centuries' worth of precedent in bankruptcy law.

Lloyds Bank hit by Obama tax purge

Change you can believe in!

 

Banking group drops American customers in UK ahead of costly proposals to stamp out tax evasion

By Louise Armitstead
Published: 9:39PM BST 13 Jun 2009

President Obama is planning a crackdown on tax evasion

Lloyds Banking Group is ditching American customers based in Britain pending a crackdown on international tax evasion planned by President Barack Obama.

So . . . mmmmmmm . . . who's going to invest in auto companies in the future?

With Obama throwing out corporate law and bondholders being raped at every turn, just who in their right mind will ever invest in an auto company (or any large company now dependent on the government for their survival) in the future?  Answer??  No one.

Washington's Short-Sighted Action May Haunt Unions

As General Motors teeters towards bankruptcy, with a looming deadline of midnight tonight for bondholders to agree to a stock swap, Reuters reports that the talks don't look promising. The Wall Street Journal got the scoop regarding how the unions will shake out in all of this: very similarly to how they did with Chrysler. This seemingly good news for unions might actually turn out to harm them.

But I thought taxes were supposed to go down???

Didn't the Big "O" promise that 95% of folks in the US would pay less in taxes??  How does a national sales tax keep that promise??

Once Considered Unthinkable, US Sales Tax Gets Fresh Look
Levy Viewed as Way to Reduce Deficits, Fund Health Reform

By Lori Montgomery
Washington Post Staff Writer
Wednesday, May 27, 2009

With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax.

Common around the world, including in Europe, such a tax -- called a value-added tax, or VAT -- has not been seriously considered in the United States. But advocates say few other options can generate the kind of money the nation will need to avert fiscal calamity.

I love that last part (highlight and italic added by yours truly).  The fiscal calamity is not being CAUSED by the policies - it is the failure to PROVIDE money FOR the policies that is causing it.  I keep waiting for a glimmer of hope the the people of this country will wake up before it's to late.  I see nothing.

Shocked!! Shocked I tell you!! Tax Revenues are Dropping!! How can that be???

Something shocking happened while the Democrats were gutting our economy, their tax revenues dropped.  Who could have predicted such a surprising outcome???

IRS tax revenue falls along with taxpayers' income

By John Waggoner, USA TODAY

Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981, a study released Tuesday by the American Institute for Economic Research says.

When the economy slumps, so does tax revenue, and this recession has been no different, says Kerry Lynch, senior fellow at the AIER and author of the study. "It illustrates how severe the recession has been."

For example, 6 million people lost jobs in the 12 months ended in April — and that means far fewer dollars from income taxes. Income tax revenue dropped 44% from a year ago.

"These are staggering numbers," Lynch says.

Big revenue losses mean that the U.S. budget deficit may be larger than predicted this year and in future years.

China warns Federal Reserve over 'printing money'

Wow, this says it all.  Communist China is warning our Fed to stop printing money.  Hell, even they get it!

China has warned a top member of the US Federal Reserve that it is increasingly disturbed by the Fed's direct purchase of US Treasury bonds.

By Ambrose Evans-Pritchard
Last Updated: 1:52PM BST 27 May 2009

Comments 0 | Comment on this article

Richard Fisher, president of the Dallas Federal Reserve Bank, said: "Senior officials of the Chinese government grilled me about whether or not we are going to monetise the actions of our legislature."

"I must have been asked about that a hundred times in China. I was asked at every single meeting about our purchases of Treasuries. That seemed to be the principal preoccupation of those that were invested with their surpluses mostly in the United States," he told the Wall Street Journal.

RED ALERT: Did anti-Obama campaign contributions dictate which Chrysler dealers were shuttered?

Taking out political enemies via dealership closures?? Nah, no one would ever think that this administration would do such a thing! I'm sure it's just a coincidence. Obama is here to save us not to take retribution. No, really!

RED ALERT: Did anti-Obama campaign contributions dictate which Chrysler dealers were shuttered?

A tipster alerted me to an interesting assertion. A cursory review by that person showed that many of the Chrysler dealers on the closing list were heavy Republican donors.
To quickly review the situation, I took all dealer owners whose names appeared more than once in the list. And, of those who contributed to political campaigns, every single one had donated almost exclusively to GOP candidates. While this isn't an exhaustive review, it does have some ominous implications if it can be verified.

Update:

Does Obama have a car dealer enemies list?

Additional information on the Chrysler closings - seems there are more than a few successful, high-profile Republicans and Libertarians on the closing list whose dealerships are growing - not shrinking. Things that make you want to go hummmmm! Surly the MSM will jump on this apparent abuse of power!!

Update 2

They really couldn't be this stupid, could they?

Way back in the 1960s, Chrysler Corporation had a very successful ad campaign for its Dodge Division, portraying their Dodge dealers as “the good guys in the white hats.” Some ongoing research about the way the closings of Chrysler, Dodge and Jeep dealerships are being handled indicates that the Obama administration might think that some of the “good guys” are much better than others.
Since Doug Ross reported that many of the dealers on the list of Chrysler outlets to be closed were donors mostly to Republicans, attention has now been focused on the list of dealerships which are slated to remain open. Some preliminary findings, as well as related news, have bombshell potential.

Update 3

(H/T GatewayPundit)

Even GOP Congressman Loses Chrysler Dealership ...Plus Peoria GOP Supporter Losing "5 Star" Business

More Hope and Change...
** Earlier it was reported that the Obama Administration may have targeted GOP donors in deciding which Chrysler dealerships would have to close their doors.
** Last night it was discovered that a Big Dem Donor Group was allowed to keep all 6 Chrysler dealerships open.... And, their local competitors were eliminated by Obama's task force.
** The closings also tend to be in "Red" Counties where Obama lost.

Now this...
Rep. Vern Buchanan (R-Fla) lost his Chrysler dealership in Florida.

Update 4

Is Obama closing GOP car dealers?

By: Mark TapscottEditorial Page Editor 5/27/09 9:36 PM
There appears to be a side to the Chrysler bankruptcy that has the look of an ugly partisanship not seen in this town since Tricky Dick was in the White House composing his enemies list and checking it twice every night while watching the evening TV newscast.

The Protest Of A Patriot - Forbes.com

Is this Obama’s plan, scare business into submission??

The Protest Of A Patriot

Peter Robinson, 05.22.09, 12:01 AM EDT

Clifford Asness takes on Barack Obama.

Clifford Asness

"I run an approximately $20 billion dollar money management firm," Clifford Asness explained in a note that he circulated to friends and investors earlier this month. The note criticized President Obama's economic policies. Despite his company's assets, Asness continued, "I am indeed fearful in writing this. It's really a bad idea to speak out. Angering the president is a mistake."

A graduate of the Wharton School and the holder of both an M.B.A. and a doctorate in finance from the University of Chicago, Asness worked at Goldman Sachs ( GS - news - people ) before founding his own firm, AQR Capital Management, more than a decade ago. If he isn't worth millions, Asness hasn't been applying himself. Afraid? A man who could barricade himself in his mansion behind pallets of hundred-dollar bills?

Moneynews - Video: Federal Reserve Cannot Account for $9 Trillion

Excuse me??  They can't account for $9 TRILLION???   $9 TRILLION???  I say again:  Not A Single Cent more to these people!  Nothing!!

Video: Federal Reserve Cannot Account for $9 Trillion

Tuesday, May 12, 2009 12:30 PM
By: Julie Crawshaw
Article Font Size

The Federal Reserve apparently can't account for $9 trillion in off-balance sheet transactions.

When Rep. Alan Grayson (D-Orlando) asked Inspector General Elizabeth Coleman of the Federal Reserve some very basic questions about where the trillions of dollars that have come from the Fed's expanded balance sheet, the IG didn't know.

Hemorrhaging – Especially Uncle Sam « Maenianum Secundum

Knock-knock.

Who's there?

John.

John who?

John Gault!

Hemorrhaging – Especially Uncle Sam

Posted on May 10, 2009 by Herself

There are various entities in the Federal government that look at the financial status of the government (OBM, CBO, etc).  ”Budget” is simply a prediction of future spending and receipts, and whether or not it is balanced is determined by what actually happens, not what is forecast to happen. 

Finding a Doctor Who Accepts Medicare Isn’t Easy - NYTimes.com

Our future under Obamacare.

Doctors Are Opting Out of Medicare

Finding a Doctor Who Accepts Medicare Isn’t Easy - NYTimes.com

By JULIE CONNELLY

Published: April 1, 2009

EARLY this year, Barbara Plumb, a freelance editor and writer in New York who is on Medicare, received a disturbing letter. Her gynecologist informed her that she was opting out of Medicare. When Ms. Plumb asked her primary-care doctor to recommend another gynecologist who took Medicare, the doctor responded that she didn’t know any — and that if Ms. Plumb found one she liked, could she call and tell her the name?

It’s official. TARP is just theft. « Fabius Maximus

Were you aware that the $750 Billion TARP program has grown to nearly $3 TRILLION - without congressional debate?  Were you aware that banks receiving funds are not accounting for their use?  I know, I know - of course you are - it's a government program.  Anyway, interesting details, just follow the link.

It’s official. TARP is just theft. « Fabius Maximus

Dem Congresswoman Admits Obama Health Care Plan Will Destroy Private Health Insurance Industry

“I know many of you here today are single payer advocates and so am I … and those of us who are pushing for a public health insurance don’t disagree with this goal. This is not a principled fight. This is a fight about strategy for getting there and I believe we will,” Rep. Jan Schakowsky (D-IL) told a group of government-run health care supporters on April 18.

RealClearPolitics - The Attack On Doctors' Hippocratic Oath

At least the Obama administration is consistent on treatment of the gravely ill - just let them die.

The Attack On Doctors' Hippocratic Oath

By Betsy McCaughey

Patients count on their doctor to do whatever is possible to treat their illness. That is the promise doctors make by taking the Hippocratic Oath.

But President Obama's advisers are looking to save money by interfering with that oath and controlling your doctor's decisions.

Ezekiel Emanuel sees the Hippocratic Oath as one factor driving "overuse" of medical care. He is a policy adviser in the Office of Management and Budget (OMB) and a brother of Rahm Emanuel, the president's chief of staff.

And so the Union Own Chrysler - what could possibly go wrong?

Something about fox and henhouse comes to mind.

UAW Said to Get 55% Chrysler Ownership, Board Seats

By John Lippert and Mike Ramsey

April 28 (Bloomberg) -- The United Auto Workers union’s retiree health-care fund will own 55 percent of Chrysler LLC in exchange for cutting in half the automaker’s $10.6 billion cash obligation to the trust, people familiar with the matter said.

Under the terms of the contract, the trust would get representation on the company’s board of directors, said two people briefed on the deal, who asked not to be named because the matter is private.

TARP: The Looming Debacle

It seems the $700 BILLION TARP program has grown a bit - say 4 times.  Anyone getting to vote on this??  Any debate before Congress??  Any ability for the common man to have their say through the vote of their representative??  Is that really too much to ask??

TARP: The Looming Debacle

Share Post Print

April 27, 2009 Posted by John at 8:00 AM

On April 21, the Special Inspector General for the Troubled Asset Relief Program Act of 2009--"SIGTARP"--submitted his quarterly report to Congress on his office's activities in relation to the TARP program. The report is a disquieting document that should be read by every American--certainly be every taxpayer.

The Inspector General's report documents the stunning and at least partly illegal expansion of TARP from the $700 billion originally allocated by Congress to what is now a $3 trillion complex of programs. This chart shows the various programs that are now included within SIGTARP's oversight, and how they have expanded from the initial $700 billion. Note that some of the programs are still incipient; $3 trillion is by no means a final number. Click to enlarge:

Obama administration concerned about growing shortage of primary-care doctors -

Why is this a surprise?  If you don't pay someone according to their particular skill, and they have the ability to not accept the payment, why does anyone in this administration think the doctors will accept it?   Canada provides a great example.  Government healthcare, mandated government insurance, doctors paid by the government, average salary - $53,000 per year.  The result?  A tremendous doctor shortage, huge patient waits and healthcare approaching 3rd world levels in many areas of the country.  Is that truly what the American people want?

Obama administration concerned about growing shortage of primary-care doctors

by Robert Pear/New York Times

Sunday April 26, 2009, 9:59 PM

Washington -- Obama administration officials, alarmed at doctor shortages, are looking for ways to increase the number of physicians to meet the needs of an aging population and millions of uninsured people who would gain coverage under legislation championed by the president.

The officials said they were particularly concerned about shortages of primary-care providers who are the main source of health care for most Americans.

One proposal -- to increase Medicare payments to general practitioners, at the expense of high-paid specialists -- has touched off a lobbying fight.

TARP Looking More Criminal by the Minute by Donald Luskin on NRO Financial

What could possible go wrong with TARP funding?  The government needs the authority to save the banks.  We have to pass it now!!!  Something about absolute power corrupting absolutely comes to mind.

 

TARP Looking More Criminal by the Minute by Donald Luskin on NRO Financial

 

The issue of TARP corruption may now extend from corporate CEOs and federal regulators to New York’s attorney general.
By Donald Luskin

Is TARP a criminal enterprise? When a CNBC producer called me on Wednesday to see if I’d debate that question on the Kudlow Report that evening, I thought the allegation was ridiculous. How could the U.S. Treasury’s Troubled Assets Relief Program to rescue the banking system possibly be compared to the Sopranos?
But now I’m not so sure. Yesterday’s sensational claims by New York Attorney General Andrew Cuomo — that Ken Lewis, CEO of TARP-recipient Bank of America, was pressured into what amounts to securities fraud by the Treasury and the Federal Reserve concerning his bank’s acquisition of Merrill Lynch — throws the question right into the headlines. It raises issues of corruption all around, and at the highest levels — from corporate CEOs and federal regulators to Mr. Cuomo himself.

Does anyone actually study history anymore?

A cartoon scan from the Chicago Tribune - 1934.  Thanks to Barry for this gem.

BizzyBlog » When Will the Press Catch On to Uncle Sam’s Collections Meltdown?

Knock, Knock - John Galt calling!

When Will the Press Catch On to Uncle Sam’s Collections Meltdown?

Almost a year ago, I was posting on what I called the “Supply-Side Stunner” (at NewsBusters; at BizzyBlog).

In April 2008, the US Treasury collected an all-time record $407.3 billion ($403.75 billion after subtracting the first $3.35 billion wave of stimulus checks, which really should have been treated as outlays, that went out just before month-end). It was an indication that, as I said at the time, “many (entrepreneurs, businesspeople, and investors) are thinking, in the face of relentless media harping to the contrary, that 2008 will be at least as profitable (as 2007).”

It seems like cap and trade is going to enter the discussion phase.

The true root of this is policy is simply dollars in the US treasury.  However, the tool being used to hammer things through is the increase in CO2 caused by man and the claim that unless this is reduced, the planet is doomed.  To say that the argument lacks any use of the scientific method would be this years greatest understatement.  I am a person of science.  Any threat that is being used to change our entire way of life and that will subject our economy to a crippling taxes should, at the very least, stand up under analysis by anyone using the scientific method.  It simply does not.  Period.

Why not?  Honestly, the amount of CO2 generated by man, is so infinitesimal that it has, for all intents and purposes, zero effect on the atmosphere.  But, how to explain this so folks can wrap their heads around it.  I have been toying with that for some time and settled on using a small local lake as an example.

Within a mile of my home there is a small 150 acre county park.  Within it is a 22 acre lake.  The question I asked myself is:  How many gallons of lake water would represent the amount of CO2 generated by man in the atmosphere.  The following is my logic and math.  Any and all are certainly welcome to check my numbers.

Square Feet per Acre	43,560.00
Acres in Rogers Lake	22.00
Average Depth Rogers Lake	9.00
Cubic Feet in Rogers Lake	8,624,880.00
Gallons per Cubic Foot	7.48
Estimated Gallons in Rogers Lake	64,514,102.40

 

Composition of Atmosphere		Gallon In Rogers Lake
Nitrogen	78.0800000%	50,372,611.15
Oxygen	20.0500000%	12,935,077.53
Water	1.0000000%	645,141.02
Argon	0.9300000%	599,981.15
Carbon Dioxide	0.0360000%	23,225.08
Neon	0.0018000%	1,161.25
Helium	0.0005000%	322.57
Methane	0.0001700%	109.67
Hydrogen	0.0000500%	32.26
Nitrous Oxide	0.0000300%	19.35
Ozone	0.0000040%	2.58
	100.09855%	64,577,683.63

 

Carbon Dioxide Levels	Pre Industrial	Natural Addition	Man Made Additions	Total
(in parts per billion)	288,888.00	68,520.00	11,880.00	369,288.00
Percentage of each	78%	19%	3%
Percentage of Atmosphere CO2 due to man	0.0011581%
Gallons in Rogers Lake equal to CO2 due to man	747.15

So, were our little lake the earth's atmosphere, of the 64,514,102.40 gallons contained in the lake, only 747 gallons would represent the man-made CO2 in our atmosphere.  Just on the face of it, the claim that this small increase is dooming our planet is ludicrous.  What the MSM is not pointing out is that thousands of scientists were either not on the global warming bandwagon or have jumped off.  To place our economy in jeopardy over this farce is perhaps the single most un-American action of the American Left and the Big "O".

When Doctors Opt Out - WSJ.com

Why is anyone surprised that doctors simply will not work for nothing?

When Doctors Opt Out

 

We already know what government-run health care looks like.

• By MARC SIEGEL

Here's something that has gotten lost in the drive to institute universal health insurance: Health insurance doesn't automatically lead to health care. And with more and more doctors dropping out of one insurance plan or another, especially government plans, there is no guarantee that you will be able to see a physician no matter what coverage you have.

Consider that the Medicare Payment Advisory Commission reported in 2008 that 28% of Medicare beneficiaries looking for a primary care physician had trouble finding one, up from 24% the year before. The reasons are clear: A 2008 survey by the Texas Medical Association, for example, found that only 38% of primary-care doctors in Texas took new Medicare patients. The statistics are similar in New York state, where I practice medicine.

Obama would regulate new 'bubbles' - Eamon Javers - POLITICO.com

So let's get this straight.  This guy who has never had a real job (except for president), never ran a company (except for the presidency), never made a payroll (including the presidency) is now running the banking system, running the insurance sector, running the auto sector and is not getting ready to look at companies on wallstreet and tell them their stock price is increasing too rapidly and they need to tamp down their growth in value??   Communism anyone??  State Planning??

Obama would regulate new 'bubbles'

By EAMON JAVERS | 4/18/09 6:44 AM EDT 

Obama is bracing Americans for a recovery different than any in recent memory.

Photo: Reuters

As he battles the economic downturn, President Barack Obama is bracing Americans for a recovery different than any in recent memory – not a go-go return to prosperity like the 1990s but a slow, steady climb to stability.
“We know that an economy built on reckless speculation, inflated home prices, and maxed-out credit cards does not create lasting wealth. It creates the illusion of prosperity, and it’s endangered us all,” Obama said recently.
But what Obama rarely says about ending the “cycle of bubble and bust” is this: he’s prepared to intervene to make sure that kind of red-hot growth doesn’t occur.

More TEA Party 2009 photos and a video.

I processed a few more photos and a video of what was going on in Washington Park in Dubuque, Iowa yesterday.  I suspect we will be seeing more of these.

 

 

TEA Party - Dubuque, Iowa

TEA Parties - just what do they mean? Personally, I believe they are the beginning of a public expression of anger over a government that seems out of control. This current anger began during the run up to the 2006 election with the passage of Medicare Part D, the Amnesty Bill and a general disregard for the wishes of the people for the government to butt out.

It accelerated during the spring of 2008 with the very first bailouts and has done nothing but gain speed since. The left seems to want to write it off as just kooks - I don't think so.

So, today with Daughter and granddaughters in hand, we will enter the world of the TEA Party. My intent is to personally see what is going on and then to conduct a few interviews for my blog. I was originally going to use video, but have changed my mind and will use stills and recorded audio for each person. So off we go!

Welcome to my TEA Party Interviews. First, an introduction:

There was a good turnout, I would estimate between 150 and 200 folks. Local speakers shared their thoughts about Congress, our economy, the direction of our economy and what we should do next. While walking around, I conducted four interviews.

First were Tom and Fran Hill, here's what they had to say:

Next up was Rod Blum, one of the speakers:

On the corner, waving to passing cars were Kathy Block and Jan Eagan:

And finally Kirk and Sara:

There were a number of common themes throughout our conversations: too much spending - virtually all felt that federal spending is completely out of control. Government intrusion was next - government is sticking it's nose where it simply does not belong. These TEA Parties are just the beginning. Anger at our government's spending and it's increasing control of the business sector is raising an alarm for these folks. There were even a few simply afraid to be interviewed for fear the government might be monitoring their words.

Basically, I think there is much more to come and I'll be there listening, talking and reporting.

Are the Communist Chinese smarter than Obama and Gietner? Looks like they are.

As The Big "O" plots the bankruptcy of our children and grand children, the Chinese are putting the brakes on the lending to us.  Perhaps the communists can save us from our socialist plunge into financial ruin.

China Slows Purchases of U.S. and Other Bonds

By KEITH BRADSHER

Published: April 12, 2009

HONG KONG — Reversing its role as the world’s fastest-growing buyer of United States Treasuries and other foreign bonds, the Chinese government actually sold bonds heavily in January and February before resuming purchases in March, according to data released during the weekend by China’s central bank.

Cutting Back

China’s foreign reserves grew in the first quarter of this year at the slowest pace in nearly eight years, edging up $7.7 billion, compared with a record increase of $153.9 billion in the same quarter last year.

Bailout Exceeds 90 Percent of 2008 U.S. GDP - HUMAN EVENTS

Change you can believe in.

Bailout Exceeds 90 Percent of 2008 U.S. GDP - HUMAN EVENTS

by  Deroy Murdock

04/06/2009

Anyone who doubts that the Bush and Obama administrations collectively transformed America into a socialist state should consider this: For every dollar American citizens generated last year, the federal bailout consumed more than 90 cents in outlays, loans, and commitments.
Bloomberg News has tallied Washington, D.C.’s spending and promises as it props up banks, insurers, automakers, and seemingly everyone except hardworking taxpayers who promptly pay their bills. Bloomberg deserves great credit for focusing on this constantly moving target. In its latest estimate, Bloomberg correspondents Mark Pittman and Bob Ivry reported March 31 that the Federal Reserve, Treasury, Federal Deposit Insurance Corporation, and Department of Housing and Urban Development have saddled taxpayers with $12.8 trillion so far. America’s 2008 gross domestic product was $14.2 trillion. Hence, the federal bailout now equals 90.14 percent of GDP.

American Business - in the best of hands.

Consent of the Governed

 

When our founders were drafting the Constitution and determining the form of government they wanted for this new country, they evaluated two primary types, Democracies and Republics. Their paramount concern when choosing a path for this new government was that the leaders and direction would be determined by the “consent of the governed”. Let that phrase sink in for a moment: “consent of the governed”. They were particularly interested in Greek democracy and its failure. This was their primary example for a direct democracy - where virtually all decisions were made by the direct and individual vote by each citizen. They decided that its failure in Greece came about in part because it was impossible for each citizen to be fully informed on each and every topic and that their votes, while certainly cast by the governed, were cast by people knowingly ignorant of the issue and thus cast without a full understanding of what they were voting for.

They chose as their direction a Republic. The governed would be represented by individuals that were directly elected by them or by individuals selected by people the governed had elected. These were local people, people they had the opportunity to know, to talk to. People raised in their region that shared their sense of values. People whose primary reason for standing for election was a sincere desire to serve their friends by serving in their nation’s government, and then leaving office and returning to their community – to be replaced by another civil servant. This rotation of people was to ensure that those elected would remain tied to their home communities rather than being consumed by the power of the federal government. Thus the “consent of the governed” would be refreshed with each new legislator sent off to the federal government.

The other advantage of a republic was that this elected and trustworthy neighbor would be able to devote their efforts to understanding the legislation presented for consideration. Rather than each individual citizen of the 13 colonies being required to understand the content of each and every bill introduced, argued and voted on, the belief was that since the elected representative and each selected (in the early days) senator would naturally have the best interests of their constituents at heart and cast their vote with these interests in mind.

This approach then met the test of “consent of the governed”. The Representative Republic was born.

So how is this working today? Honestly, I have more than a few concerns. While I am certainly as partisan as they come, and proudly so, this particular issue rises above partisanship and directly effects the ability of our country to survive as the Representative Republic it was meant to be. Let me share a few examples that concern me:

This week’s ruling by the Iowa Supreme Court that gay marriage is an “equal treatment under the law” issue and now legal within the state of Iowa. My frustration is not with the verdict, though I support civil unions and not marriage for gays, but with the simple fact the people of Iowa had no say in the matter. This was an argument generated out of whole cloth by a single court verdict and elevated to the Supreme Court of Iowa level. A decision made, not by the people of Iowa, but by a single court. This is not “consent of the governed” but rather a single branch of government imposing its will on the governed.

Next, the current flurry of bailouts throughout our country. I have run my small business in Vinton for nearly 28 years. At times, frankly, I have struggled mightily. Yet, if I would have reached a point where I could have not continued, I would have simply been forced to close my doors and fail. Now, we find that TRILLIONS of dollars of the American taxpayer is being used to prop up companies that are failing. The housing bailout called TARP was created in weeks this past fall, ran over one thousand pages in length and was voted on without a single Legislator or Senator having actually read the bill. It passed. And was promptly changed by then Secretary Paulson without the consent of congress. And it still isn’t working with over 25% of newly refinanced home loans already in default for a second time. How does voting for a bill, without fully reading and understanding it, costing trillions of our hard earned dollars, pass the “consent of the governed” test?

Third, the Federal Reserve printing a TRILLION dollars in money to purchase even more bad loans from banks on the brink of bankruptcy. This was an act, executed with no debate at all. Article 1 of the Constitution clearly states that all bills regarding raising revenue must begin in the House of Representatives. Honestly, I am unclear how the Fed can simply print a trillion dollars. Regardless, again, how does this decrease in the value of the dollar, without any debate by any elected official represent the “consent of the governed"?

Forth, the auto bailout. We, the people, now own GM and Chrysler. And we paid too much – over 30 BILLION to date. If you went on the stock exchange, purchased every piece of stock – EVERY SINGLE, SOLITIARY PIECE OF STOCK AVAILABLE ON THE PLANET – you would only spend $1.28 billion as of Friday, April 3^rd. We have spent 23 times more on GM than it is worth. By what possible description is this a good deal?? And, they are asking for more – much more. Was there a single vote for the initial round of GM bailout money? Nope, not a single vote, only then President Bush’s signature. Again, referring to the goal of the founders that our elected representatives would serve the best needs of their constituents, how does spending this amount of American’s hard earned money on a company in failure meet the “consent of the governed”? Would you buy GM stock??

Let’s not forget our energy needs. The people of America have spoken in a loud voice, use our own resources and stop depending on foreign countries with anything but our well-being on their mind. And yet, even with the expiration of the off-shore drilling ban this past October, members of congress are moving quickly to reinstate it. How does this further our national security? Our resources – oil, coal, natural gas, nuclear – should be used to their fullest to ensure our ability to grow and exist as a nation. I am confused when a clear majority of Americans are in favor of using these resources and the Congress’s stubbornly resisting this meets the “consent of the governed” test.

Illegal immigration and the security of our borders. This is certainly a hot-button issue that has its flames fanned by both sides of the issue. However, it is a perfect example of how “consent of the governed” could quite simply resolve the issue. The issue has never revolved around the idea of immigration. All of us are here because, originally, one of our ancestors left the “old country” and immigrated to the US. And, we have long had laws in place that handled this exact issue. There are very clear procedures in place that states the process that needs to be followed when immigrating to the US as well as quotas from each country. If these laws need to change, if the quotas need to be raised – then present these to the American people. Have the legislators discuss this with the people of their district – and the change them. Offering a blanket amnesty of people who have violated the laws of our country does not – by any stretch of the imagination – meet the “consent of the governed”. Additionally, the vast majority of Americans want a secure border with Mexico – period. One of the basic duties of the government of the United States is to secure our borders. The fact that our Congress and numerous administrations fail to do this single task seems to fly in the face of the “consent of the governed”.

There are a large number of other examples where I, or friends, have commented that they simply didn’t know how the government could do “that” – whatever “that” was in the moment. The truth is, they can’t. Our elected officials serve at our pleasure. They are expected to listen to the folks back home, to actually read the bills they vote for, to understand the effects of the legislation they pass and to honor their position as servants of the people each and every day they are in office. They have forgotten. Our federal and state governments are in the midst of a spending orgy the likes of which we, as a country, have never seen. The Obama administration is proposing a budget that spends more money than all of the previous administrations combined. Their own CBO has estimated annual budget deficits of over a TRILLION DOLLARS PER YEAR as far as they can predict into the future. We will be passing on to our children, grandchildren and great-grandchildren a debt that they will simply be unable to pay. I do not believe, in my heart, that this is the wish of any American. We need to remind ourselves that these folks are in office by the “consent of the governed” and that they answer to us. If we, as citizens, are expected to live within our budgets, we expect to have our government do so as well.

W.H. team discloses TARP firm ties - Kenneth P. Vogel - POLITICO.com

I'm shocked!  Shocked I tell you!!  Those in Big "O's" administration personally made MILLIONS off groups receiving TARP funds!!  Why.... why.....  geezzz, how just, just shocking that is!!

W.H. team discloses TARP firm ties

By KENNETH P. VOGEL | 4/3/09 10:49 PM EDT 

Lawrence Summers, a top economic adviser to President Barack Obama, pulled in more than $2.7 million in speaking fees paid by firms at the heart of the financial crisis, including Citigroup, Goldman Sachs, JPMorgan, Merrill Lynch, Bank of America Corp. and the now-defunct Lehman Brothers.

He pulled in another $5.2 million from D.E. Shaw, a hedge fund for which he served as managing director from October 2006 until joining the administration.
Thomas E. Donilon, Obama’s deputy national security adviser, was paid $3.9 million by the power law firm O’Melveny & Myers to represent clients including two firms that receieved federal bailout funds: Citigroup and Goldman Sachs. He also disclosed that he’s a member of the Trilateral Commission and sits on the steering committee of the supersecret Bilderberg group. Both groups are favorite targets of conspiracy theorists.

Change you can believe in - Obama bows and kisses the hand of the Saudi King.

I can't even imagine what our President is thinking.  Showing subservience to the Saudi King.  As I have said in the past, we are going to pay a terrible price as a nation for electing this man.

Computer History Museum - Timeline of Computer History

The real engine of the past 35 years.  So what will replace it for the next?

Computer History Museum - Timeline of Computer History

The National Budget, Debt & Deficit

There is a stunning lack of knowledge of basic economics and the history of government revenue, spending and deficits.  These graphs should help.

The National Budget, Debt & Deficit

"Clinton balanced the budget." "The national debt is at an all time high" (and so is the deficit). What does this all mean? I found some historical information and plugged the numbers into Excel and generated these charts.

Government acts to seize control of wages.

The Democrats continue to search for absolute power.  In their latest attempt, legislation has been drafted and passed out of committee limiting salaries of ALL EMPLOYEES of a company that has received government assistance.  Wonder if this will extend to those receiving SBA loans??  Nah, that's silly.  Like putting Obama in charge of GM - and him with no auto experience.  Right??

Beyond AIG: A Bill to let Big Government Set Your Salary

By Byron York
Chief Political Correspondent 3/31/09

House Financial Services Committee Chairman Rep. Barney Frank, D-Mass., left, talks with Treasury Secretary Timothy Geithner, right, and Federal Reserve Chairman Ben Bernanke, on Capitol Hill Tuesday, March 24,2009. Frank's committee has passed a bill giving Geithner extensive control over salaries of employees working at companies receiving government bailout funds. (AP Photo/Evan Vucci) It was nearly two weeks ago that the House of Representatives, acting in a near-frenzy after the disclosure of bonuses paid to executives of AIG, passed a bill that would impose a 90 percent retroactive tax on those bonuses. Despite the overwhelming 328-93 vote, support for the measure began to collapse almost immediately. Within days, the Obama White House backed away from it, as did the Senate Democratic leadership. The bill stalled, and the populist storm that spawned it seemed to pass.

But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.

The Employee Freedom Choice Act - Good for America! Right?? Mmmm - not so much.

Union efforts cost a community in Wisconsin a $50 million project and up to 800 jobs.  Organized labor at work.

Economic director: Bill stalls large local project

By Leader-Telegram staff

Proposed federal labor legislation has derailed a large Eau Claire County development, according to a local economic development official.

The project - for which no name or description was given - would have brought a $50 million investment to Eau Claire County in the next five years, along with creating up to 800 full-time jobs, Brian Doudna, executive director of the Eau Claire Area Economic Development Corp., said in a news release Wednesday evening. Construction was expected to begin this year. The first employees were to begin work in early 2010, with about 100 new jobs being created.

The project has been placed on hold indefinitely because of the Employee Free Choice Act, federal legislation that would require binding arbitration to resolve contract disputes and make it easier for workers to join unions. The bill has been introduced in the House and Senate.

Pajamas Media » Food Stamps for the Well-Off: A National Trend?

A nation of dependence - is that what we have become??

Pajamas Media » Food Stamps for the Well-Off: A National Trend?

Since when did it become taxpayers’ duty to feed a family with $80,000 in the bank?

March 27, 2009 - by Tom Blumer

On March 13, Ohio blogger Matt Hurley, who has been running Weapons of Mass Discussion for over five years, received an email from “someone in the business” — specifically, the social services “business” in Warren County, Ohio, just northeast of Cincinnati :

Cape "tea party" canceled; City fears too many attendees | WINK News - Southwest Florida | Local & Florida

Permits and insurance - the weapons of fear.

Cape "tea party" canceled; City fears too many attendees | WINK News - Southwest Florida | Local & Florida

By WINK News

Story Created: Mar 27, 2009 at 6:10 PM EDT

Story Updated: Mar 27, 2009 at 6:16 PM EDT

CAPE CORAL, Fla. - A tea party to protest government spending and taxing is canceled. Canceled by the government.
Why? They feel too many people could show-up.

In normal times, this would not even need to be said.

One more point of view on why government provided healthcare is not the way to go - Massachusetts.

I have a good friend who keeps pointing to Massachusetts as an example of a working model for socialized medicine provided by the government.  And here, is yet another article on how poorly it is actually working.

Health Care: Why Massachusetts is Not the Answer

In 2006, Governor Mitt Romney (R), working with a Democratic state legislature, passed and signed the Massachusetts Health Care Reform Act, a groundbreaking piece of legislation aimed at ensuring that every citizen of the Bay State possessed health insurance, while simultaneously lowering the cost of health coverage and improving access to quality care.

Bring it on Mr. President

Obama continually hides behind the message the the Republicans have introduced no alternative to his budget.  He leaves out little details like the Republicans being physically shut out of the construction of the porkulus bill.  That they have had amendment after amendment after amendment blocked in committee. 

So, they have taken time to publish a 19 page proposal.  Imagine that, 19 pages that you can actually read and debate rather than 1000 that MUST be voted on - without anyone actually reading it.

OK Mr. President, you wanted a debate, be man enough to actually debate the Republican proposal.

For those interested, read it for yourself.

The GOP 'Road to Recovery' budget - read it here

March 26, 2:23 PM ·

House Republicans have unveiled the "Road to Recovery," a budget plan to curb spending, create jobs, and control the debt, in contrast to the irresponsible budget proposed by President Obama, which spends too much, taxes too much and borrows too much.

Your local bank under attack.

I live in a small town.  My company does business there.  It is a well run, financially solid institution.  They take their business seriously.  And they, along with thousands of sound banks, are being punished by the federal government. 

FDIC Extends Restoration Plan; Imposes Special Assessment

FOR IMMEDIATE RELEASE
February 27, 2009

Media Contact:
David Barr (202) 898-6992
dbarr@fdic.gov

The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today voted to amend the restoration plan for the Deposit Insurance Fund (DIF). The Board also took action to ensure the continued strength of the insurance fund by imposing a special assessment on insured institutions of 20 basis points, implementing changes to the risk-based assessment system, and setting rates beginning the second quarter of 2009.

Think about that.  A "special assessment" of $.20 for ever $100 on deposit.  In many cases, this may well be the profit margin for small, private banks.  How can our government punish well run banks in such a way.

Oh, sorry, I forgot - simply because they can.  And no Geither wants "un-precedent " power to seize institutions the government deems to be in trouble.  Hello??  America??  Anyone watching??

Union thugs intimidating workers on a "Card Check" effort?? Naw - it couldn't be true.

 

These are union guys, working for the common worker, they are.  OK, OK - the sarcasm flag is flying.  But, the story of this woman would be the story of card check.  I remember the unions of the 50s.  I remember my father's stories.  Trust me, we do not want those days back.

So what about those tax cuts for 95% of American tax payers.

Let's set aside the raw dishonesty of Obama's assertion that he is going to give 95% of American tax payers a tax cut, nearly 50% pay absolutely no taxes at all - period. What he really means is that he is giving transfer payments to these folks. Taking money from the productive and giving it to those who earn less. "Spreading the wealth" so to speak.

But I heard an interesting caller today who was a small business owner (the pure evil of it all!) and she noticed that in her new IRS Publication 15, there were some significant changes since last year (when that evil Bush was in office). In 2008, the withholding for a single person claiming no dependents was $0 until they reached $310 per week ($1240 per month). ZERO TAXES. Yet, despite the claims of the Obama administration regarding reducing taxes, the Publication 15 tables for 2009 showed that taxes started being withheld at the $55 per week ($200 per month) mark.

Given my standard policy of trusting no one - Republican, Democrat, Independent - I decided to investigate. A couple of links for your evaluation:

2008 IRS Publication 15

Pay particular attention to page 5. Hummmm - sure shows $0 to me.

Next:

2009 IRS Publication 15

Thumb forward to page 40. Wow! Taxes starting at $55.

So what does this mean? In a nutshell, Obama and the Democrats are lying to us. This doesn't even begin to address the massive increases on the middle income earners when Bush's tax cuts are allowed to expire. But, I have written about that before, I won't bore you again.

Bottom line - this administration is desperate for cash. Given their massive budget, the projected $1 Trillion deficits EACH AND EVERY YEAR FOR THE NEXT 10 YEARS, they simply need cash. The "rich" don't have enough for the administration's thirst. They will have to drain each and every dime from absolutely every source possible, and will have to create many new sources as well. This is simply the beginning folks, just the beginning. I believe Senator Gregg called it the path to bankruptcy for the United States.

Change you can believe in.

When will someone in our own government give this speech to Obama?

How do you treat a good man?

How do you treat a good man?  Not like this.

Op-Ed Contributor - Dear A.I.G., I Quit! - NYTimes.com

Dear A.I.G., I Quit!

Published: March 24, 2009

The following is a letter sent on Tuesday by Jake DeSantis, an executive vice president of the American International Group’s financial products unit, to Edward M. Liddy, the chief executive of A.I.G.

DEAR Mr. Liddy,

It is with deep regret that I submit my notice of resignation from A.I.G. Financial Products. I hope you take the time to read this entire letter. Before describing the details of my decision, I want to offer some context:

I am proud of everything I have done for the commodity and equity divisions of A.I.G.-F.P. I was in no way involved in — or responsible for — the credit default swap transactions that have hamstrung A.I.G. Nor were more than a handful of the 400 current employees of A.I.G.-F.P. Most of those responsible have left the company and have conspicuously escaped the public outrage.

Bush Deficit vs. Obama Deficit in Pictures » The Foundry

The problem with what the Big "O" says is always in the facts.

Bush Deficit vs. Obama Deficit in Pictures » The Foundry

Why the hell does this surprise anyone?? Hello?? Can we say Dodd?? Can we say Franks??

Follow the Bailout Cash

By Michael Isikoff and Dina Fine Maron | NEWSWEEK

Published Mar 21, 2009

There was plenty of outrage on Capitol Hill last week over the executive bonuses paid out by AIG after getting federal bailout money. But another money trail could make voters just as angry: the campaign dollars to members of Congress from banks and firms that have received billions via the Troubled Asset Relief Program.

A story to rub . . . bber you the wrong way.

You can't make this stuff up.

Stimulus? U.S. to buy Chinese condoms, ending Alabama jobs | McClatchy

By Mike McGraw | Kansas City Star

Call it a condom conundrum.

At a time when the federal government is spending billions of stimulus dollars to stem the tide of U.S. layoffs, should that same government put even more Americans out of work by buying cheaper foreign products?

In this case, Chinese condoms.

Administration Seeks Increase in Oversight of Executive Pay - NYTimes.com

I am shocked, shocked I tell you.  They even intend to regulate normal, everyday companies not associated with bailouts at all??  Why the nerve!!  (is anyone surprised by this??  anyone??)

Administration Seeks Increase in Oversight of Executive Pay

By STEPHEN LABATON

Published: March 21, 2009

WASHINGTON — The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said.

FT.com / Global Economy - Banker fury over tax ‘witch-hunt’

This is pretty damned impudent.  Did they not hear the Big O's conversation with Joe the Plumber about spreading the wealth?  Do they not understand that this actually requires wealth too be seized from those making the wealth and given to those who do not make as much?  Pretty damned cheeky to just ignore one of the cornerstones of the Big "O's" whole election campaign!  

Banker fury over tax ‘witch-hunt’

By FT reporters

Published: March 20 2009 19:39 | Last updated: March 20 2009 23:32

Bankers on Wall Street and in Europe have struck back against moves by US lawmakers to slap punitive taxes on bonuses paid to high earners at bailed-out institutions.

Senior executives on both sides of the Atlantic on Friday warned of an exodus of talent from some of the biggest names in US finance, saying the “anti-American” measures smacked of “a McCarthy witch-hunt” that would send the country “back to the stone age”.

Lighting a match to the John Galt tinder box.

Let's say you are a company looking for worldclass leadership.  It does exist.  There are managers that truly make a difference that are badly needed.  Many work on a bonus system.  They get paid if they succeed.  They don't if they fail.  That was actually true in the AIG bonus fiasco.  They were paid bonuses to stay, to do necessary work.  They saved the tax payer billions.  But never mind, they need to be punished, as do other bonus earners.

So tell me again, why do these people want these jobs?? 

COURTING CATASTROPHE

March 19, 2009

The pitchfork-and-torch crowd that would be Congress is coming after AIG and its now infamous bonuses, and it may further damage America's fragile financial system in the process.

That's because House Speaker Nancy Pelosi, given an opening by the anger over the $165 million in bonuses paid to AIG bigs, says the House will suspend its rules today and vote to impose a confiscatory 90 percent income tax on the AIG bonuses and perhaps those given after Dec. 31 to top executives at all companies that got more than $5 billion in government bailout money.