Daily Archives: January 8, 2011

Pete the Banker: Michele Bachmann challenges Dodd – Frank Financial Reform, Barney Frank Emerges From Prehistoric Past?

Minnesota Republican Congresswoman Michele Bachmann introduced new legislation, H.R. 87, to repeal the Dodd-Frank Financial Reform and Consumer Protection Act, one of the most over-reaching legislative measures passed by of the Nancy Pelosi lead Congress.

“I’m pleased to offer a full repeal of the job-killing Dodd-Frank financial regulatory bill. Dodd-Frank grossly expanded the federal government beyond its jurisdictional boundaries. It gave Washington bureaucrats the power to interpret and enforce the legislation with little oversight.”

“Dodd-Frank also failed to address the taxpayer-funded liabilities of Fannie Mae and Freddie Mac. Real financial regulatory reform must deal with these lenders who were a leading cause of our economic recession. True reform must also end the bailout mindset that was perpetuated by the last Congress. I am proud to work towards repeal of Dodd-Frank because Congress must protect the taxpayers, instead of handing out favors to Wall Street.”

“concerned over powers granted to officials such as the Stability Oversight Council, which contains 10 agents from the Treasury and the Federal Reserve. Bachmann said the council’s ability to ‘target and takeover bank and non-bank financial institutions that it deems dangerous or at risk’ is a ‘frightening abuse of power’,” and “It is plain hubris to think that this government, with its $14 trillion dollar debt, annual deficits, and wasteful-spending, is worthy of this plenipotentiary oversight.”

Democrat Congressman Barney Frank (D – Mass), sponsor of the Financial Reform Bill, protector of Fannie Mae & Freddie Mac, major recipient of Fannie and Freddie donations said of Republicans,

“They yearn to return to the thrilling days of yesteryear, so the loan arrangers can ride again – untrammeled by any rules restraining irresponsibility, excess, deception, and most of all, infinite leverage.”

It’s nice to hear that Barney Frank is finally coming out of the closet after all this time to admit his support for strong conservative economic principles, despite the impotence of his Reform Bill. We can expect he will now vote against raising debts ceiling (infinite leverage), the Obama budget (excess), extending the conservatorship of Freddie and Fannie (untrammeled by any rules), the Build America Bonds program & State bailouts (irresponsibility), and that he will rail against the adoption of the Basel III International Banking Accords (deception).

Congratulations Representative Bachmann for the fortitude to both challenge archaic legislation and precipitate true change by admonishing the former head of the House Financial Services Committee to emerge from the closet showing his true “conservative” economic principles and preference!
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What Happened to the Republican Pledge To America??

By Pete the Banker

The Republicans Pledge To America stated that they would,

“Cut Government Spending to Pre-Stimulus, Pre-Bailout Levels: With common-sense exceptions for seniors, veterans, and our troops, we will roll back government spending to pre-stimulus, pre-bailout levels, saving us at least $100 billion in the first year alone and putting us on a path to begin paying down the debt, balancing the budget, and ending the spending spree in Washington that threatens our children’s future.

End Government Control of Fannie Mae and Freddie Mac: Since taking over Fannie Mae and Freddie Mac, the mortgage companies that triggered the financial meltdown by giving too many high risk loans to people who couldn’t afford them, taxpayers were billed more than $145 billion to save the two companies. We will reform Fannie Mae and Freddie Mac by ending their government takeover, shrinking their portfolios, and establishing minimum capital standards. This will save taxpayers as much as $30 billion.”

Included in the details of their promises were specific alternatives promising to eliminate Build America Bonds program (From A Thousand Cuts, Sept 22, 2010) In December in conjunction with the Tax Bill Debate, Republicans became firm, “Congressional Republicans will block any inclusion of Build America Bonds, a taxable bond program popular with states, cities and other muni issuers, in the tax deal they clinched with President Barack Obama, a Republican aide said on Tuesday. “We have a very firm line on BABs — we are not going to allow them to be included,” a congressional Republican aide said.

However now with the new Republican majority now taking control of Congress, they have suddenly developed amnesia forgetting their electoral promises and the responsibility instilled in them by the voter mandate on November 2, 2010, which entrusted them to adopt fiscally conservative budget policies and solve the GSE problem. Republicans are now planning to scale back their plans for cuts in Federal Spending. “Republicans scaled back plans for deep cuts in U.S. government spending as they took power in the House of Representatives on Wednesday, diluting a key promise that helped them to victory in November’s election.“

Eric Cantor the House Majority Leader said, “The party pledged to return discretionary, non-defense related spending to 2008 levels but have since said an initial $100 billion target for cuts may not be reached.”

“One House Republican aide said Wednesday the proposed spending cuts could be “considerably less” than $50 billion.”

This despite the specific promise outlined in the Republican pledge.

Scott Garrett, Chair of the House Financial Services, Capital Markets and GSE Committee and apparently Spencer Baucus, Chair of House Financial Services Committee are now planning to stall Freddie and Fannie reform. “‘We recognize that some things can be done overnight and other things can’t be,’ said Rep. Scott Garrett (R., N.J.), incoming chairman of the House Financial Services subcommittee, which oversees Fannie and Freddie. ‘You have to recognize what the impact would be on the fragile housing market as it stands right now’.”

And just as the Democrats and Barney Frank have orchestrated inaction over the past two years, the Republicans are suggesting little or no immediate action and relenting on their specific promise.

Perhaps most egregious is the move by John Mica, Chairman of the House Transportation and Infrastructure Committee to resurrect Build America Bonds which States like California, Illinois and New York have abused to the tune of nearly $200B since 2009, supplementing their cash flow without paring State spending and ultimately using it to subsidize their budget deficits. “Representative John Mica, who becomes House Transportation and Infrastructure Committee chairman in January, plans to introduce a “reincarnation” of the Build America Bonds program, set to expire Dec. 31. “I can almost guarantee a reiteration of the Build America Bond program,” Mica, a Florida Republican, said in an interview in Washington today. “We’re working to find a reincarnation’.”

So again the promised budget cuts on wasteful spending in the pledge where apparently simply a gimmick.

It’s time that Republican leaders like Boehner, Cantor, and Kevin McCarty, the new Republican Whip, together with others to deliver on their campaign promises. Failure to perform is unacceptable. We received deceitful promises of “Hope” and “Change” from the Democrats only to face economic despair and stasis. If Republicans expect our continuing support then they need to deliver on promises contained in their Pledge delivering expected results based on a real change in Washington DC’s “business as usual” mentality!

Tell ’em where you saw it. Http://www.victoriataft.com

As Expected, Liberal Trolls Begin Blaming With No Evidence

As expected and all too often seen, today’s tragic murder of 6 people, including a federal Judge and a 9 year-old child, believed to be targeting Democrat congresswoman Gabrielle Gibbons of Arizona’s 8th district has liberals frothing at the mouth in blaming others with no evidence whatsoever.

It has become common place in America’s politically charged partisanship that liberal Democrats are never to blame for anything and talk radio, Fox News and conservatives in general are the reason for all that is wrong. That it is not true is of no relevance to the leftist in our midst, only promoting their agenda du jour.

Today’s alleged shooter, 22 year-old Jared Lee Loughner was quickly identified not only as the shooter by witnesses, but immediately news sites reporting the Arizona atrocity began seeing comments left placing blame on the backs of the Tea Party, Sarah Palin, Conservatives, Talk Radio and whoever they could blame, so long as they never have to look at their own hatemongering rhetoric.

Unfortunately for the leftists, they are once again left looking like total fools as all indications point to Loughner being a liberal psychotic and unhinged. If anything, he really has no political affiliation, evidenced by incomprehensible ramblings left posted on websites and videos.

Is Daily Kos Involved In Arizona Murders?

Truth has no place in the agenda driven left, though. All that matters is furthering the destruction of the very freedoms they flaunt.

Actual evidence has been sketchy all day, at one point congresswoman Gibbons being reported as deceased when she was actually undergoing surgery and in critical condition.

Much to the chagrin of the left I’m sure, early reports of the shooter being a recent Afghanistan War Veteran proved false as the Army confirmed they had rejected him for military service.

Not a single one of the usual slate of targets has expressed anything but concern over the tragic events of the day, but does the left care about that? No, they do not care about accuracy, just agenda.

Soon, the leftist trolls will slink away again, ignoring their false allegations and just waiting for another chance to repeat it, all the while ignoring their own culpability in the extreme hatred and dividing of America.

If there is anything more pathetic on the face of the earth than a left-winged troll, I don’t what it could be.

Tell ’em where you saw it. Http://www.victoriataft.com

“Gender Neutral” Parentage?

Political Correctness has attained a new low (height to some) that has Gay Activists applauding the State Departments decision to revamp Passport Applications with the deletion of the designation “mother” and “father” under parents and to soon be designated as “parent one” and “parent two.”
A Fox News article states the State Department website noted: “These improvements are being made to provide a “gender neutral” description of a child’s parents and in recognition of different types of families.”

Brenda Sprague, deputy assistant Secretary of State for Passport Services said, “We find that with changes in medical science and reproductive technology that we are confronting situations now that we would not have anticipated 10 or 15 years ago.”

Jennifer Chrisler, executive director of the pro-gay group Family Equality Council, who has lobbied for such a change for years said, “Changing the term mother and father to the more global term of parent allows many different types of families to be able to go and apply for a passport for their child without feeling like the government doesn’t recognize their family.”

I hate to throw a wet blanket on Ms. Chrisler’s, Ms. Sprague’s and the State Departments jubilation, but there is no such thing as “gender neutral parentage.” Whether a child is conceived in the more natural method inside the womb or in a modern outside the womb manner, it still requires the combination of a male (father) and female (mother) component.

Another small problem the PC groups applauding this ridiculous change are ignoring. For several years many of these same PC liberals have warned of any form of discipline that might humiliate or in any way denigrate a child.

Are they not know encouraging such humiliation and denigration of one parent by designating one as “number two,” or less important?

Even if the couple is two gays or two lesbians, which one is less important enough to be designated “number two?”

See also the Washington Post
Tell ’em where you saw it. Http://www.victoriataft.com

“Gender Neutral” Parentage?

Political Correctness has attained a new low (height to some) that has Gay Activists applauding the State Departments decision to revamp Passport Applications with the deletion of the designation “mother” and “father” under parents and to soon be designated as “parent one” and “parent two.”
A Fox News article states the State Department website noted: “These improvements are being made to provide a “gender neutral” description of a child’s parents and in recognition of different types of families.”

Brenda Sprague, deputy assistant Secretary of State for Passport Services said, “We find that with changes in medical science and reproductive technology that we are confronting situations now that we would not have anticipated 10 or 15 years ago.”

Jennifer Chrisler, executive director of the pro-gay group Family Equality Council, who has lobbied for such a change for years said, “Changing the term mother and father to the more global term of parent allows many different types of families to be able to go and apply for a passport for their child without feeling like the government doesn’t recognize their family.”

I hate to throw a wet blanket on Ms. Chrisler’s, Ms. Sprague’s and the State Departments jubilation, but there is no such thing as “gender neutral parentage.” Whether a child is conceived in the more natural method inside the womb or in a modern outside the womb manner, it still requires the combination of a male (father) and female (mother) component.

Another small problem the PC groups applauding this ridiculous change are ignoring. For several years many of these same PC liberals have warned of any form of discipline that might humiliate or in any way denigrate a child.

Are they not know encouraging such humiliation and denigration of one parent by designating one as “number two,” or less important?

Even if the couple is two gays or two lesbians, which one is less important enough to be designated “number two?”

See also the Washington Post
Tell ’em where you saw it. Http://www.victoriataft.com