Barney Frank: 'Death Panels' for Large Financial Institutions (Video)

Rep. Barney Frank says new rules to dismantle large financial institutions would give Washington the power to prevent future government bailouts.

After Bailouts, Lending Still Stagnant (Video)

Here's another freakin' shocker...

When they crawled to Washington on their hands and knees begging for billions of dollars to save their companies, banking industry CEOs promised us that they would start lending again. To no one's surprise, lending has actually decreased since they received their billion-dollar bailouts. Mike Papantonio of Air America's Ring of Fire appears on "Cavuto" to discuss the topic.

Tim Geithner Not to Be Confused with a Banker (Video)

"I've never actually been in banking...I've spent my entire life in public service," said Tim Geithner today in Congress.

Well that certainly explains a lot.

Michele Bachmann On New TARP Plan: It's Almost Like Julie Andrews In The Sound Of Music (video)

Rep. Michele Bachmann and Glen Beck discuss the Fed's move to take its preferred shares of bank stocks and convert them into common shares.

It's a back door into nationalization and a raw deal for tax payers.

It's very simple; Congress probably will not authorize more "bailout" money for the banks, so this is a shell game, bait-and-switch move towards socialist nationalization.

Another example of Obama's war on capitalism.

Obama Wants to Control the Banks

There's a reason he refuses to accept repayment of TARP money.

Treasury Secretary Tim Geithner told Katie Couric he is open to more unconstitutional terminations of CEOs, continuing Team "O"s assault on the markets, investors and capitalism.


President Obama, in a blatant abuse on his constitutional Executive power, felt it necessary to fire GM CEO Rick Wagoner.


Geithner has recently unveiled a plan designed to give Treasury Department the ability to take over financial institutions at the Secretary's choosing.


Recently, a bill has been introduced in Congress, HR 1664 Grayson-Himes Pay For Performance Act of 2009, which aims to cap pay which is not performance based and any and all employees who work for companies receiving bailout dollars.


It's a power grab to redistribute wealth, penalize the successful and establish a communistic "equality" among Americans. Regulation = control and power.

Team "O" wants to destroy free market capitalism. There is ample proof of Obama's war on investors. Welcome to The United Socialist States of America (USSA).




Michele Bachmann: Obama's 'Cap and Trade' Is China and India Stimulus Plan (Video)

Michele Bachmann claims the Serve America Act will lead to "re-education camps for young people." (Audio)

VIDEO: Hannity And Michele Bachmann On Currency, Constitution and Geithner

VIDEO: Chris Matthews Mocks Michelle Bachmann- Big Surprise

VIDEO: Rep. Michele Bachmann On Global Currency "Once you lose your economic freedom, you lose your political freedom."

Rep. Michele Bachmann Introduces Bill To Protect American Dollar

VIDEO: The Bachmann Effect, Rep. Michele Bachmann Grills Geithner On The Constitution And His Banking Plan

Rep. Michelle Bachmann and Mark Levin Discuss President Obama's Meeting With Congress About The Controversial Stimulus Bill

Economic Crisis Unfortunately Puts Marxism En Vogue (Video)

Karl Marx predicted tax payers would pay for bank bailouts.

Global recession making Marxism a reality, reported by "Russia Today". They would know Marxism, no?

George Soros: The Whole Banking System is Insolvent (Video)

Liberal financier George Soros on the economy and the banking collapse. This is the same man who said last month that is is "having a very good crisis", as his hedge fund managers make billions off recession.



Telegraph adds:

George Soros, the billionaire financier, helped unsettle markets by voicing fears that share prices had further to fall. In an interview, he said: "It's a bear-market rally because we have not yet turned the economy around. This is not a financial crisis like all the other financial crises that we have experienced in our lifetime."

Couric Says Violent G20 Protestors Are Experiencing "Populist Anger" (Video)

Katie Couric equates violent protests in London with Americans "anger" over banks and Wall Street. She says protests showcase "populist anger" towards governments who are "not doing enough for the poor"?

Who's angry? President Obama and Tim Geithner and their war on capitalism?

At least Obama is not literally throwing bricks down on Wall Street, but the Liberals may as well start breaking stuff.



President Obama, in a blatant abuse on his constitutional Executive power, felt it necessary to fire GM CEO Rick Wagoner this week.

Tim Geithner unveiled a plan last week, designed to give Treasury Department the ability to take over financial institutions at the Secretary's choosing.

Recently, a bill has been introduced in Congress, HR 1664 Grayson-Himes Pay For Performance Act of 2009, which aims to cap pay which is not performance based and any and all employees who work for companies receiving bailout dollars.

It's a power grab to redistribute wealth, penalize the successful and establish a communistic "equality" among Americans.

Regulation = control and power.

Team "O" wants to destroy free market capitalism. There is ample proof of Obama's war on investors. Welcome to The United Socialist States of America (USSA).

VIDEO: Geithner Wants Broader Powers to Take Over Banks

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
-- Thomas Jefferson

And who says they don't want to nationalize banks and destroy free market capitalism?

More proof of Obama's war on investors. Welcome to The United Socialist States of America (USSA).

Obama says he hopes "it doesn't take too long" to convince Congress to approve new authority to oversee financial firms.

Treasury Secretary Timothy Geithner asked lawmakers to give him powers similar to those of the Federal Deposit Insurance Corporation, which can seize control of banks, take over their bad assets and sell the good ones to competitors.

VIDEO: Sen. Fred Thompson Calls On Republicans To Obstruct Obama Agenda

Sen. Fred Thompson appeared on "Your World" with Neil Cavuto this afternoon to break down the Geithner/Obama bank plan.

Thompson and Cavuto both believe the "new" plan is basically the "old" Paulson/Bush plan, just recycled.

Towards the end of the second video, Thompson calls on Congressional Republicans to obstruct Obama's radical agenda.

Well done, Senator!

John Kerry: ‘Animal House’ Party Days Are Over for U.S. Banks; No Word If This Applies To White House Conga Parties

Senator Lurch McDreamy Is Pissed!


(TMZ)

John Kerry is angry at bankers for using tax payer money to party, but claims he's no Dean Wormer!

March 6 (Bloomberg) -- Last week, when American taxpayers learned that a bank receiving Troubled Asset Relief Program funds had thrown a lavish bash and spared no expense to celebrate with the bands Chicago and Earth, Wind & Fire, I introduced legislation based on a simple concept: if a company accepts bailout funds from the taxpayer, it can’t waste money on lavish parties, expensive dinners and Tiffany trinkets.

The reaction in some quarters suggests that I had attempted -- like a modern-day Dean Wormer in “Animal House” -- to ban fun of any kind, or that the wheels of commerce and marketing would grind to a halt.

Nothing could be further from the truth. Normal marketing and travel wouldn’t be affected one iota.

In related news, The Obama cocktail party-and-conga line bonanza is coming under scrutiny:

An organization that serves as a watchdog on the U.S. government for American taxpayers has launched a campaign to uncover exactly how much tax money is being spent on parties at the Obama White House.

The president has shown a penchant for lavish galas, such as the huge assembly orchestrated in Denver when he accepted his party’s nomination for president – an outdoor gathering for some 75,000 featuring a stage with Greek columns. He also held a multimillion-dollar victory celebration in Chicago, and his fancy inauguration cost an estimated $170 million, according to ABC News.

Now, Larry Klayman, founder of Freedom Watch, told WND today he’s seeking information about the partying in the White House since the Obamas moved in…

…Klayman said the reports of the partying at the White House, “with the likes of Steve Wonder and other high priced entertainment stars,” will be the focus of document requests being submitted to the General Services Administration. The requests will seek to determine how much taxpayer money is being used.

“Barack and Michelle Obama have been throwing taxpayer funded parties nearly every night with their ‘friends’ and supporters, with Michelle Obama even exhorting them not to ‘break’ White House property,” Klayman’s announcement said.

“This party atmosphere sends the wrong message to the American people. As the Obama-Clinton crowd party on, the American people are suffering greatly,” Klayman said.

Huh?

FDIC Could Become Insolvent? That Would Really Suck!

Wow! This is some pretty crappy news! How bad could this get!

Bloomberg reports:

Federal Deposit Insurance Corp. Chairman Sheila Bair said the fund it uses to protect customer deposits at U.S. banks could dry up amid a surge in bank failures, as she responded to an industry outcry against new fees approved by the agency.

“Without these assessments, the deposit insurance fund could become insolvent this year,” Bair wrote in a March 2 letter to the industry. U.S. community banks plan to flood the FDIC with about 5,000 letters in protest of the fees, according to a trade group.

“A large number” of bank failures may occur through 2010 because of “rapidly deteriorating economic conditions,” Bair said in the letter. “Without substantial amounts of additional assessment revenue in the near future, current projections indicate that the fund balance will approach zero or even become negative.”

The FDIC last week approved a one-time “emergency” fee and other assessment increases on the industry to rebuild a fund to repay customers for deposits of as much as $250,000 when a bank fails. The fees, opposed by the industry, may generate $27 billion this year after the fund fell to $18.9 billion in the fourth quarter from $34.6 billion in the previous period, the FDIC said.

Time to buy a new mattress!