Feds unveil plan to sop up bad bank assets

Although most of us have nothing to do with these "toxic" assets, we the people will get to clean up the mess. Instead of protecting the honest taxpayer from this, Obama and Democrats in congress are exposing us. Our money is being diluted. These toxic assets are not just worthless, they will continue to cost us for a long time. You see, usually if someone skips out on their mortgage loan obligations, then it's up to the loaning bank to foreclose and sell the asset to make up whatever they can. By buying these mortgages, the US government now has that responsibility. It's going to be a gigantic mess that the politicians will simply ignore, because that's what they do best. These toxic assets are real places amongst us. They will sit empty or even worse, will have no-good-for-nothing squatters move in. They will continue to devalue our neighborhoods for years to come. And we won't be able to do anything because now instead of dealing with a bank, we get to deal with the amorphous federal government. The irony is too thick. We are forced to spend our money on worthless negative value adding assets, and we get rewarded by having our good assets turn into toxic ones just like the ones we were supposed to be bailing out. It's the liberal circle of madness. By the way, oil is starting it's rise again. Just as the dollar is losing value again. Trust me, within a year, we will have double digit inflation. Unemployment will be over 10%. Interest rates will start their rapid climb. Everyone knows the real problem we have is too much credit. So, to fix it they say we need more. Insanity. It will catch up to us, and it's getting very close. Feds unveil plan to sop up bad bank assets: "WASHINGTON – The Obama administration, striving to ease lending in the struggling economy, moved Monday with private investors to sop up bad bank assets. The administration said the program could grow to $1 trillion in purchases eventually, if it proves successful in attacking the bad-books problem that has been at the heart of the banking crisis."

CBS's Kroft to Obama: 'Are You Punch-Drunk?' - First 100 Days of Presidency - Politics FOXNews.com

But just 2 weeks ago he was saying it's not as bad as you think. So, which will it be today? Is it time to start talking down or up the economy? I wish people would just stop listening to the propaganda and make this administration irrelevant. Too bad he has the power to crush any one of us. CBS's Kroft to Obama: 'Are You Punch-Drunk?' - First 100 Days of Presidency - Politics FOXNews.com: "The president also acknowledged surprise at how quickly the U.S. economy crumbled between his November election and January inauguration. 'I don't think that we anticipated how steep the decline would be,' he said in the '60 Minutes' interview on CBS television. 'That slope is a lot steeper than anything that we've said -- we've seen before.'"

Why does he keep bothering me?

Letter from the liar, hypocrite, and esteem Senator of Iowa:

Dear Friends,

This week, I was just as outraged as I am sure many of you were, when I learned that millions of dollars were paid out in bonuses to employees at companies that received bailout funding. I am dumbfounded to think that some of the very people at AIG whose recklessness caused such harm to the financial system and our economy are now being rewarded. What’s more is that the Federal Reserve and the Treasury Department knew about these bonuses before they went out and did not aggressively act to stop them. The Treasury needs to step up oversight of those companies who have received federal bailout dollars and become a much more forceful watchdog of taxpayers’ dollars. A lot of people have written and called my office to express their anger, and with good reason. Up and down Main Street, businesses are closing, homes are being foreclosed on and people are in financial trouble, while workers on Wall Street continue to profit. But, folks in Iowa look at that and see business as usual. They see one set of standards for ordinary working families and a very different set for the privileged and wealthy. They see the federal government requiring union workers at GM and Chrysler – some making as little as $14 an hour – to renegotiate their contracts and accept lower compensation as a condition for federal relief for their employers. But the bonus contracts for millionaires at AIG are held up as somehow untouchable. Iowans are sick and tired of seeing those who break the rules get richer and richer. Congress must act now to recoup the bonuses paid out. We need to pass legislation that completely taxes those bonuses away. We need to send a message to AIG and other companies who received bailout money. They need to know business as usual will not be tolerated, incompetence and recklessness will not be rewarded and this kind of insult to Iowans and all Americans will not be allowed to stand. I made a speech on the floor of the Senate talking about the outrageousness of the bonuses. I encourage you to click here to watch that video.

Your Senator, Tom Harkin

House passes bill taxing AIG and other bonuses

HEY PELOSI! It's not your money! It was never your money. They just don't get it. In this country you represent us, we are not your employees. This Populist pandering is preposterous (Barney Frank couldn't say that without drowning the guy in front of him). The Democrats are power hungry and will stop at nothing to grasp it. These bonuses are NONE OF PELOSIREEDFRANKOBAMA's business. They are contractual obligations between a PRIVATE CORPORATION and THEIR EMPLOYEES! When are people going to wake up to this. They are stealing our liberty and many of us are handing it to them. Am I the only one that finds this threatening? They are shaming PRIVATE CITIZENS into giving up their EARNED MONEY. That's right, they earned it. It's their money. I just can't stand these Marxists any more. Once they succeed at this, they are COMING FOR YOUR MONEY. They must be stopped. House passes bill taxing AIG and other bonuses: "WASHINGTON – The Democratic-led House overwhelmingly approved a bill on Thursday to slap punishing taxes on big employee bonuses from AIG and other firms bailed out by taxpayers. The vote was 328-93. 'We want our money back and we want our money back now for the taxpayers,' said House Speaker Nancy Pelosi, D-Calif."

BBC NEWS | Business | Obama wants to block AIG bonuses

More populist pandering. BBC NEWS | Business | Obama wants to block AIG bonuses

Obama Takes on Role of Confidence-Builder in Chief - First 100 Days of Presidency - Politics FOXNews.com

So, after talking down the economy for months, now it's "not as bad." Seesawing public opinion is because of this guys seesawing statements. Obama Takes on Role of Confidence-Builder in Chief - First 100 Days of Presidency - Politics FOXNews.com: "The president boldly declared that the national crisis is 'not as bad as we think' and that he has seen public opinion seesaw without logic."

GM says it doesn't need $2B from gov't in March

Lots of positive stories coming out today. Banks are doing great. It was a week ago that GM was rumored to go bankrupt, but now everything's fine and dandy. Hmm. I think something's up. We are quickly approaching the end of the 1st quarter and I think this is a propaganda strategy from the white house to get people feeling we are on the up swing before really bad news hits the news cycles again. But, there are still a lot more bad news than good news. Unemployment is pushing up at a rapid rate, foreclosures are way up, and inventories are going down. All signs that we have not bottomed out yet. These emotional ploys do work, but only until reality settles back in. Remember, the big plan is to push the country away from capitalism and into socialism. To do this, they have to make us believe that Obama's socialist policies are working. It doesn't matter if they are or not, we just have to believe they are. (Trust me, they are not.) GM says it doesn't need $2B from gov't in March: "GM, which is living on $13.4 billion in government loans, has requested another $16.6 billion as it tries to weather the worst auto sales slump in 27 years."

2nd Uncommon Search for today

Microexpression - Wikipedia, the free encyclopedia

Today's Uncommon Search

Every once and awhile I do a an "out of the blue" Internet search. This is today's. David's Right Way of Thinking: Mythbusters prove plants feel pain?

Obama signs 'imperfect' spending bill in private

Obama signs 'imperfect' spending bill in private: "The massive measure supporting federal agencies through the fall contains nearly 8,000 pet projects, earmarked by sponsors though denounced by critics."

GOP Cross-Overs Have Earmarks to Gain in $410 Billion Spending Bill - Presidential Politics | Political News - FOXNews.com

GOP Cross-Overs Have Earmarks to Gain in $410 Billion Spending Bill - Presidential Politics | Political News - FOXNews.com: "Senate Democrats are expected to win over just enough Republicans to move forward on a controversial $410 billion spending bill by the end of the night Tuesday. But it may come as no surprise that almost all of the Republican senators who are either expected to support the bill or are considering supporting the bill have billions of dollars worth of earmarks in the package."

Stem cell go-ahead puts Obama at odds with pope | International | Reuters

Stem cell go-ahead puts Obama at odds with pope | International | Reuters: "VATICAN CITY (Reuters) - President Barack Obama's lifting of restrictions on federal funding for human embryonic stem cell research puts him at odds with Pope Benedict and the American Roman Catholic Church."

China says U.S. naval ship broke the law | Reuters

China says U.S. naval ship broke the law | Reuters: "The U.S. ship 'violated the relevant international laws and Chinese laws and regulations,' he said, urging the United States to halt such action. U.S. defense officials said the incident followed days of increasingly aggressive Chinese conduct in the area, including fly-bys by Chinese maritime surveillance planes. It comes just weeks after the two sides resumed military talks, postponed in November after a U.S. announcement of arms sales to Taiwan, a self-ruled island China claims as its own. And it echoes a stand-off in 2001 between U.S. and Chinese military forces after a U.S. spy plane made an emergency landing on Hainan after a collision with a Chinese fighter jet. China released 24 crew after a U.S. expression of regret."

BBC NEWS | Business | Worst crisis since 1930s says Fed

So, we can blame this on Bill Clinton also? BBC NEWS | Business | Worst crisis since 1930s says Fed: "Mr Bernanke argues that the roots of the current global economic downturn stem from global imbalances in trade and flows of capital in the late 1990s."

Levin vs. DF

Just wanted to note that I heard Mark Levin and DF (I'm not going to promote this guy one bit) going at it on Levin's show, I think 2 nights ago. DF is an idiot and Mark took him to task. DF came across as pure emotional and irrational. I read DF's opinion piece (all 5 paragraphs, what a deep thinker) about Obama and Rush. He personally attacked Rush and slobbered all over Obama. He also attacked Levin, said he's "shouting at cars." whatever that means. He calls himself a Republican. I guess he served under Reagan for all but 5 minutes and thinks he knows it all about conservatism. Well, I've listened to Rush since 1992 and DF is a fool if he believes what he wrote. The Republican party is tearing apart because of guys like this. I would have never known who he even was if it wasn't for Levin calling him out. Makes me wonder if it was worth it. I don't know DF's spiritual condition, if he believes in God or Jesus Christ, but I'd guess he's got real problems with it. He writes and sounds like a guy who feels he's lost control because his party, Republicans, have no political power at this time. He's swiping out at anything and everything like a cat caught in a bag. He isn't showing any faith that things will work out no matter how bad they seem now. This is a deep belief of mine and it comes straight from Christianity. I know Christ wins in the end and I know it gets as bad as it can right before that. So whether He's coming back tonight or coming back in 20 years or 1000 years, He is coming back. I may get frustrated and frankly ticked off at the world, but this is what I remind myself and then I realize it's only a waste of time to be that way.

GM Stock

Wow. I'm thinking that if GM keeps hinting at bankruptcy, that their stock may jump 10X real fast. I think this, because if they really go bankrupt, which I think they will, then probably their stock will be frozen. GM is hurting, but this is absurd how low their stock is. I think in maybe 5 years they will come out of bankruptcy and I believe (don't know how all this works by law) that if you owned the stock prior to them going bankrupt then you will be able to trade it again at the new price, which is probably going to be around 20-30. That's my guess. Anyway, I don't think GM is going to close down, so this is the time to buy. If I had a $1000, I'd buy it right now. Article - WSJ.com: "Shares of auto maker General Motors ($1.40, -$0.46, -24.73%) tumbled to their lowest point since 1933 after The Wall Street Journal, citing a person familiar with the matter, said GM's top executives are more open to a speedy bankruptcy ..."

Obama to speak to Ohio police recruits

Obama to speak to Ohio police recruits: "Obama was to travel to Columbus on Friday to speak at the graduation ceremony for 25 police recruits who owe their jobs to the economic recovery bill he signed into law less than three weeks ago." But here's the rest of the story...(homage to the late Paul Harvey) "But Coleman announced last week that the Justice Department had informed the city that it would get $1.25 million in stimulus money to pay the officers' salaries through the end of the year. Two of the recruits chose not to return." So what happens at the end of the year? Well, I think the 2 that chose not to return know.

Opinion: What Are the Odds of a Depression? - WSJ.com

I like this guy. I don't find many in the media that actually make sense. I agree with what he says here. Opinion: What Are the Odds of a Depression? - WSJ.com: "Given our situation, it is right that radical government policies should be considered if they promise to lower the probability and likely size of a depression. However, many governmental actions -- including several pursued by Franklin Roosevelt during the Great Depression -- can make things worse. I wish I could be confident that the array of U.S. policies already in place and those likely forthcoming will be helpful. But I think it more likely that the economy will eventually recover despite these policies, rather than because of them. Mr. Barro is a professor of economics at Harvard and a fellow at Stanford University's Hoover Institution."