Tag Archives: primary

Republicans Stand by Their Man: Fat Cat The Banker

Posted by: LibbyShaw

Meet Fat Cat the Banker

Meet Fat Cat the Banker

Who would have thought? In its true and hypocritical form The Party of No and Obstruction opposes President Obama’s proposed fees on banks.

Dick Cheney must be hard at work at that printing press in his undisclosed basement.

Prominent Republicans are coming out in opposition to President Barack Obama’s proposal for a $90-billion fee on large banks that took bailout money, a move that political observers say could force the GOP to choose between their traditional anti-tax position and populist anger over the bailout.

On Thursday, GOP Chairman Michael Steele declared that the bank fee — which would be levied only on banks that took bailout money and have more than $50 billion in assets — is “another tax on the American public.”

The GOP is standing by fat cat the banker in yet another effort to oppose President Obama. Republicans demonstrate time and time again that they are willing to put politics ahead of working on solutions to solve the daunting challenges that we face on local, state and national levels.

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All of the Republican’s ranting and raving about the federal bailout is nothing but ginned up rhetoric. Apparently GOP lawmakers hate the bailout and yet they love the banks so much that they do not believe Wall St., aka gambling casinos that put Las Vegas to shame, should have to make reparations to the taxpayers for squandering and stealing our money. God forbid should the big banks have to pay fines for its appallingly irresponsible and over the top reckless behavior that annihilated the U.S. and global economy.

The financial services industry lobbied for the repeal of the Glass Steagall Act in 1999. That allowed banks to use their custodial power over your money to assume huge risks in investment markets.

They also lobbied for the Commodity Futures Modernization Act of 2000, which allowed banks to trade their crooked insurance in secret and exempted from all supervisory authority.

And to help grow the hurricane, then CEO of Goldman Sachs Hank Paulson made a personal plea to the SEC to allow banks to leverage more money against their capital. As much as $4,000 for every $100 in capital they held.

Wall Street may claim this was caused by a perfect storm, but the only thing perfect about it was their ability to line their pockets at the expense of our country.

Republicans apparently think it is a good idea for the banks to return to its wild, careless and out of control gambling practices that all but destroyed our financial security.

The proposed tax would apply to bank, thrift and insurance companies with more than $50 billion in assets and would start after June 30. It would not apply to certain holdings, like customers’ insured savings, but to assets in risk-taking operations. The levy would raise an estimated $90 billion over 10 years, according to the White House.

But it would remain in force longer if all losses to the bailout fund, the Troubled Asset Relief Program, were not recovered after a decade. The Treasury now projects that the losses from the $700 billion loan program, which was created in October 2008, could reach $117 billion, about a third of the loss that it projected last summer — an improved forecast that reflected the renewed strength on Wall Street.

After all, last week during the Texas Republican gubernatorial debate Senator Kay Bailey Hutchison said she and John Cornyn hated voting for the bank bail out. But, alas, they did so only because then President G.W. Bush instructed them to do so in order to save the U.S. and global economy from a complete melt down.

A glimpse at a Texas Republican clown show.

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In their twisted logic Republican politicians insist they hated saving the banks but now they hate imposing punitive fees on the banks’ biggest gamblers.

I suppose now that Sarah Palin has been hired as a professional analyst by FOX, the Propaganda Arm for the RNC, all of the GOP’s verbal inconsistencies and contradictions will soon be fully explained.

Republican lawmakers will howl like possessed banshees about terrorism and the profound urgency for our national security. They also routinely cry for border fences, racial profiling and full body scanners at all airports. And yet when it comes to safeguarding our financial and economic security, Republicans, it appears, are not in the least bit concerned. For them Fat Cat the Banker can do no wrong.

According to an article written by Mr. Frank Rich of the New York Times:

The Other Plot to Wreck America

Americans might be fluent in global terror and the horrors of terrorism but we are woefully uninformed about our domestic financial weapons of mass destruction.

Americans must be told the full story of how Wall Street gamed and inflated the housing bubble, made out like bandits, and then left millions of households in ruin. Without that reckoning, there will be no public clamor for serious reform of a financial system that was as cunningly breached as airline security at the Amsterdam airport. And without reform, another massive attack on our economic security is guaranteed. Now that it can count on government bailouts, Wall Street has more incentive than ever to pump up its risks — secure that it can keep the bonanzas while we get stuck with the losses.

The Director of the Financial Crisis Commission intends to shed some light on the big banks and its financial practices (greed, hubris, stupidity – gosh, why this sounds like a typical old home week of the W. Administration of arrogance and incompetence) over the last several years.

He wants to examine the financial sector’s “greed, stupidity, hubris and outright corruption” — from traders on the ground to the board room. “It’s important that we deliver new information,” he said. “We can’t just rehash what we’ve known to date.” He understands that if he fails to make news or to tell the story in a way that is comprehensible and compelling enough to arouse Americans to demand action, Wall Street and Washington will both keep moving on, unchallenged and unchastened.

Maybe the W. Administration and all of its lackeys including Senators John Cornyn and Kay Bailey Hutchison were far too distracted by non-existent WMD’s in Iraq and no bid contracts to the military/industrial complex to worry much about Wall St.

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Filed under Bailout, Banking, Barack Obama, Capitalism, Creepy right-wing antics, Economy, Greed, Media and Entertainment, Money, Mortgages, MSNBC, News, Partisan Politics, Politics, Presidents, Republicans, RNC, Small Business, The Morning Meeting w/Dylan Ratagan, Video/YouTube, Washington, DC

TX Gov. Perry: No Amount of Good Hair Will Make the Cover Up Go Away

Posted by LibbyShaw

Texas Governor Rick Perry must be blinded by arrogance to believe that he could actually shut down and cover up an investigation and no one would notice. A politician would also have to be completely overcome by an over sized ego to do so during a primary contest.

Last night on MSNBC’s Hardball, Chris Matthews interviewed Samuel Bassett, former Texas Forensic Science Commission Officer about the Todd Willingham case.

OK so Perry did not like where this investigation was going and so, as only a dictator would do, he shut it down. And now we also know where the fake, self-serving “moderate” Kay Bailey Hutchison stands on barbaric medieval practices. We already know where she stands on ginned up wars and a deregulated Wall St. KBH voted with W. over 90% of the time. Princess Sparkle Pony may have made a brilliant tactical political move, at least according to Slater, but she also revealed her true colors as anything but moderate.

Earth to Perry: as hard as you spin, rail and cry, the execution of an innocent man on your watch ain’t going away. And Kay, hell will freeze over before this liberal would ever in her dreams vote for the likes of you. You squarely belong in the deather box right there along with Dictator Perry and your beloved W. who is responsible for the deaths of over 100,000 Iraqis. For? Please do remind us.

Scott Cobb over at The Burnt Orange Report has been providing exhaustive and outstanding coverage of this issue. Please click on the link to see how you can get involved with ongoing efforts to abolish the death penalty. Now that we know Texas has executed an innocent man, never has the case been stronger to eliminate this barbaric medieval practice.

This morning in the Houston Chronicle, Lisa Falkenberg wrote a sobering commentary about Rick Perry and the Todd Willingham execution.

Perry’s right that Willingham was nobody’s poster child.

The fact that he was a “bad man,” that he beat his pregnant wife, that he’d been convicted of low-level crimes, that he was fond of expletives, might have been enough, even a month ago to sow doubt about his innocence or simply deflect attention from the case of such an unsympathetic figure.

But the story isn’t just about Willingham anymore. It isn’t just about guilt or innocence. It isn’t even about whether Perry did his homework before allowing Willingham’s 2004 execution.

It’s about whether Perry is purposefully trying to subvert the law in Willingham’s case, and potentially obstruct justice in countless other arson cases that could benefit from the commission’s review, all for political gain during a hotly contested primary.
Pressure, ouster

And the case looks clearer every day.

Also also today The Huffington Post reveals that Perry called Willingham a monster.

Though Willingham was certainly a monster if he beat his pregnant wife, he should not have been executed if he did not kill his children.

Professor Bob Stein of Rice University weighs in on the political ramifications of Perry’s coverup.

I don’t think it’s extreme to say it’s a fight for the hearts and minds of the Republican Party.

I beg to disagree with Professor Stein. This is not a fight for the hearts and the minds of the Republican Party. This is about covering up the execution of an innocent man for purely political reasons. Perry obviously doesn’t care about the wrongful death of an innocent man. He, a typical Republican, is driven by his own ambitions and agendas.

But fortunately for Texas, all of the good hair and handsome looks on the planet won’t make Perry’s coverup go away.

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HBO’s By The People: The Election of Barack Obama

bythepeopleelectionpremiere_novideoHBO—Nearly a year before Barack Obama announced his candidacy for the presidency on Feb. 10, 2007, filmmakers Amy Rice and Alicia Sams began to roll cameras on the young senator. Over the next 19 months, they found themselves traveling all across the country, chronicling the daily ups and downs of the campaign trail as experienced by Obama, his family, his staff and volunteers. While Obama’s meteoric rise to the White House has been well documented in the press, few have witnessed the behind-the- scenes story of the passionate campaigners who helped a young African-American freshman senator attain the nation’s highest office.

Producer/Actor Edward Norton

Producer/Actor Edward Norton

Rice conceived the idea of making a documentary about Obama long before the Illinois Senator announced his decision to run for president. Inspired by his oratorical skills and star appeal at the 2004 Democratic Convention, she set out to film his political career in 2006. Rice approached documentary producer Sams, who joined to co-direct and actor Edward Norton’s production company, Class 5, agreed to produce the project. After Norton approached Obama’s team with the idea, the senator agreed to grant the filmmakers what turned out to be unprecedented and exclusive access.

Initially, it wasn’t even about a presidential campaign; the idea was simply to examine the political experience of a promising young politician of our generation,” says Norton, a two-time Oscar® nominee.

For Rice, the project had an even more personal dimension. She lost her older brother in the Sept. 11 attacks on the Twin Towers – an event that galvanized her political awakening. Then she saw Obama’s 2004 convention speech on TV. Rice recalls, “That’s when the idea of making a political documentary came into my mind.”

Notes Sams, “It was clear that Obama was inspiring people to think differently about politics. We wanted to explore his impact and see where it would take both him and the country.”

From this unique vantage point, By The People captures the boundless fervor of the campaign’s volunteers, as well as the extraordinary skill and technical sophistication of its organizers. “I think people will look back on this campaign as one that was conducted with a real understanding of communication and organizing tools that were singular to that moment,” says Norton. “It was an historic new read on how you could do an end run around conventional political methodology and strategies.”

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Premieres November 3 at 9pm ET

By The People: The Election of Barack Obama is a moving record of the Obama campaign’s history-making odyssey to the White House. Interwoven with the drama of the campaign is never-before-seen footage of Obama behind the scenes, as well as interviews and candid moments with wife Michelle Obama, the couple’s young daughters, Malia and Sasha, and senior campaign staff, volunteers, reporters, supporters and opponents. Watch the trailer.

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