Wednesday, December 10, 2008
Illinois Politics 101
What really pisses me off is the accusation that he tried to black mail a children's hospital for a campaign donation, in return the Governor would make sure that state funding for the hospital would not get cut off. This man deserves to be sentenced to death by sodomy.
The Question off course is what did Obama know, when did he know it, and what did he promise Blagojevich. We need full judicary hearings on this matter now. Obama cut his political teeth in the streets of Chicago. he was trained by the best politically corrupt minds in Chicago. I don't think this is the change all the Obamabots were looking for O' merciful one.
Wednesday, November 12, 2008
And So It Begins
Another Brick In 'The Wall'?
By INVESTOR'S BUSINESS DAILY | Posted Tuesday, November 11, 2008 4:20 PM PT
Transition: Jamie Gorelick may be back, this time as attorney general. It was her "wall of separation" that that left us blind pre-9/11. And let's not forget her admirable service at Fannie Mae.
"Not many people can claim to have been at the center of arguably the greatest financial disaster and greatest national security disaster in American history. But Gorelick, said to be on the short list for attorney general by the New York Times, can. Surely that qualifies her for further government service.
Gorelick earned an estimated $26 million serving as vice chair of Fannie Mae from 1998 to 2003. In 1998, according to the Washington Post , Gorelick received a bonus of $779,625, despite a scandal in which employees falsified signatures on accounting transactions to manipulate books to meet 1998 earning targets.
In 2003, she got a "Friends of Angelo" sweetheart mortgage deal from Countrywide Financial for almost $1 million. Her $960,000 mortgage refinancing in 2003 was handled through a program reserved for influential figures and friends of Countrywide's chief executive at the time, Angelo Mozilo.
Countrywide's loans on preferential terms to influential figures are the subject of a federal grand jury investigation in Los Angeles, according to people involved in the inquiry. So Gorelick is in fact under investigation by the department she might soon be running.
On March 25, 2002, BusinessWeek quoted Gorelick as saying: "We believe we are managed safely. Fannie Mae is among the handful of top-quality institutions." One year later, government regulators accused Fannie Mae of improper accounting to the tune of $9 billion in unrecorded losses. This keen financial oversight set the stage for the financial meltdown to follow.
Before Fannie Mae, Gorelick was deputy attorney general in the Clinton Justice Department and architect of the policy that established a wall between intelligence and law enforcement, making "connecting the dots" before 9/11 a virtual impossibility.
Gorelick was the author of a 1995 memo that helped establish what former Attorney General John Ashcroft testified was the "single greatest structural cause" for Sept. 11, which was "the wall that segregated criminal investigators and intelligence agents."
"Government erected this wall," Ashcroft said. "Government buttressed this wall. And before Sept. 11, government was blinded by this wall."
Gorelick later was a member of the 9/11 Commission, a participant in the very events being investigated. At the commission hearings, she pummeled Secretary of State Condoleezza Rice, not with questions but with accusations of malfeasance, asking Rice why her office failed to "connect the dots."
Gorelick made the accusations knowing that she herself issued the memo ordering the FBI to erect a legal wall between itself and the CIA, preventing them from sharing information, making it impossible to collect the dots, much less connect them. She should have been a witness, not a panel member.
Manhattan U.S. Attorney Mary Jo White, who in 1998 brought an indictment against bin Laden and a deputy, Mohammed Atef, for the bombings of the U.S. embassies in Kenya and Tanzania, wrote two scathing memos to Attorney General Janet Reno on the wall Gorelick built with Reno's approval.
On June 13, 1995, White wrote Reno: "The most effective way to combat terrorism is with as few labels and walls as possible so that whenever permissible, the right and left hands are communicating."
According to a New York Post report, White was so upset after Reno and Gorelick refused to tear down Gorelick's wall barring information-sharing between intelligence and law enforcement that she wrote a second, still-secret memo, saying their wall hindered law enforcement and could cost lives.
In this time of financial crisis and war on terror, it would be more than a little ironic if an old Clinton crony, someone who played a detrimental role in both, would be rewarded again with a key role in government. Maybe it's true that the more things "change" the more they remain the same."
I will say it again, we are all doomed.
Thursday, October 9, 2008
The Evidence Keeps Poping Up............
This from Media Circus:
Posted on 03 October 2008
Do you remember how we told you that the Democrats and groups associated with them leaned on banks and even sued to get them to make bad loans under the Community Reinvestment Act which was a factor in causing the economic crisis (see HERE and HERE ) … well look at what some fellow bloggers have dug up while researching Obama’s legal career. Looks like a typical ACORN lawsuit to get banks to hand out bad loans.
In these lawsuits, ACORN makes a bogus claim of Redlining (denying poor people loans because of their ethnic heritage). They protest and get the local media to raise a big stink. This stink means that the bank faces thousands of people closing their accounts and get local politicians to lobby to stop the bank from doing some future business, expansions and mergers. If the bank goes to court, they will win, but the damage is already done because who is going to launch a big campaign to get the bank’s reputation back?
It is important to understand the nature of these lawsuits and what their purpose is. ACORN filed tons of these lawsuits and ALL of them allege racism.
Case Name
Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance
Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011
State/Territory Illinois
Case Summary
Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages.
U.S. District Court Judge Ruben Castillo certified the Plaintiffs’ suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995). Also on June 30, Judge Castillo granted Plaintiffs’ motion to compel discovery of a sample of Defendant-bank’s loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995).
The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement.
Plaintiff’s Lawyers Alexis, Hilary I. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Childers, Michael Allen (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Clayton, Fay (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Cummings, Jeffrey Irvine (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Love, Sara Norris (Virginia)
FH-IL-0011-9000
Miner, Judson Hirsch (Illinois)
FH-IL-0011-7500 | FH-IL-0011-9000
Obama, Barack H. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Wickert, John Henry (Illinois)
FH-IL-0011-9000
This from the NY Post:
THE seeds of today’s financial meltdown lie in the Community Reinvestment Act - a law passed in 1977 and made riskier by unwise amendments and regulatory rulings in later decades.
CRA was meant to encourage banks to make loans to high-risk borrowers, often minorities living in unstable neighborhoods. That has provided an opening to radical groups like ACORN (the Association of Community Organizations for Reform Now) to abuse the law by forcing banks to make hundreds of millions of dollars in “subprime” loans to often uncreditworthy poor and minority customers.
Any bank that wants to expand or merge with another has to show it has complied with CRA - and approval can be held up by complaints filed by groups like ACORN.
In fact, intimidation tactics, public charges of racism and threats to use CRA to block business expansion have enabled ACORN to extract hundreds of millions of dollars in loans and contributions from America’s financial institutions .
The Woods Fund report makes it clear Obama was fully aware of the intimidation tactics used by ACORN’s Madeline Talbott in her pioneering efforts to force banks to suspend their usual credit standards. Yet he supported Talbott in every conceivable way. He trained her personal staff and other aspiring ACORN leaders, he consulted with her extensively, and he arranged a major boost in foundation funding for her efforts.
And, as the leader of another charity, the Chicago Annenberg Challenge, Obama channeled more funding Talbott’s way - ostensibly for education projects but surely supportive of ACORN’s overall efforts.
This man should never be allowed to hold any public office every agian much less be President. He is nothing more than a criminal thug who should be ostracized. Obama was just part of a organized crime ring in Chicago disguised as a community redevlopmet orgianization. He will destroy our country.
Wednesday, October 8, 2008
Rezko Is Sqealing
This from the AP and the Greenville News. (And please notice that there is no mention of the millions of dollars that this scumbag raised for Obama.)
Oct 8, 10:20 AM EDT
Federal judge grants delay in Rezko sentencing
CHICAGO (AP) -- Convicted political fundraiser Tony Rezko's sentencing is officially on hold in Chicago.
U.S. District Judge Amy J. St. Eve on Wednesday granted prosecutors' request to strike Rezko's scheduled October 28th sentencing date.
St. Eve set a status hearing for December.
Earlier this week, prosecutors filed a motion to delay the sentencing "while the parties engage in discussions that could affect their sentencing postures."
The request all but an acknowledges Rezko is talking to investigators about what he knows about corruption in state government.
He was convicted on charges of launching a $7 million scheme to use his clout with Governor Rod Blagojevich's administration to pressure a contractor and firms wanting to do business with the state for kickbacks.
© 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten
Thursday, September 4, 2008
ACORN And The Obama
The scary part is how entrenched this group is in a lot of important states. Hopefully the media will do some digging around, and find out the truth about his roll in the corrupt Chicago political machine, because The Obama is certainly not going to answer these questions.
Friday, June 20, 2008
Change We can Bel...............Oh, Never Mind
Thursday, June 19, 2008
Where Is The Outrage
"Give Senator Christopher Dodd credit for nerve. On Tuesday, the very day he finally admitted knowing that Countrywide Financial regarded him as a "special" customer, the Connecticut Democrat also announced that he was bringing to the Senate floor a housing bailout sure to help lenders like Countrywide.
How much will Countrywide benefit from Mr. Dodd's rescue? The Senator's plan allows mortgage lenders to dump up to $300 billion of their worst loans on to taxpayers via a new Federal Housing Administration refinancing program, provided the lenders are willing to accept 87% of current market value. The program will be most attractive to lenders and investors holding subprime and slightly-less-risky Alt-A loans made during the height of the housing bubble in 2006 and 2007.
As the market leader during that period, Countrywide originated $167 billion of such loans, more than 11% of the nationwide total, according to Inside Mortgage Finance. Analyst Fred Cannon of Keefe, Bruyette and Woods estimates that the company is still holding more than $30 billion in subprime and Alt-A loans on its books, based on the company's most recent quarterly financials.
Even for the loans Countrywide has already packaged and sold, the company would still benefit from the bailout. That's because Countrywide continues to service the loans, and every loan that goes bad means increased costs for the servicer.
Those mortgage loan sales also typically come with a guarantee that Countrywide will buy back the loans if it turns out they were fraudulent. The more loans that fail, absent a federal refinancing, the more investors will be digging into the details of these stinkers and tossing them back to Countrywide. Mindful of the looming danger, in the first quarter of this year Countrywide increased by 46% its reserves to cover these so-called "rep-and-warranty" agreements.
What's more, the company is holding $34 billion in home equity loans, which are even more risky than the mortgage loans, and typically result in 100% losses for the lender if a borrower defaults. The Dodd bailout will make it more likely that Countrywide gets some recovery from the worst of these loans because the mortgage holder will need to negotiate a settlement with the owner of the home equity loan before participating in the federal bailout.
If borrowers and lenders take full advantage of this new federal program, and Countrywide loans go south at roughly the same rate as those from other lenders, this suggests a potential taxpayer bailout of more than $25 billion for Countrywide-originated loans. Even if the losses turn out to be far less, why should taxpayers do anything to help a company that did so much to foment the mortgage mess?
Meanwhile, Mr. Dodd continues to insist that, though he knew he was a "special" Countrywide customer, he didn't think he was getting any special financial benefit. But a $75,000 reduction in mortgage payments is no small matter for anyone living on a Senate salary of $169,300. Why else would he be known around Countrywide as a "Friend of Angelo" – Angelo being Countrywide CEO Angelo Mozilo.
Yesterday, nine Senate Republicans led by South Carolina's Jim DeMint sent a letter asking Majority Leader Harry Reid to delay consideration of Mr. Dodd's housing bailout bill in light of its benefits for Countrywide – and Countrywide's benefits for Mr. Dodd. That's an excellent idea, in addition to a Congressional and Justice Department probe of Countrywide, Fannie Mae and the favors they seem to have spread around Washington. American taxpayers need to understand more about who they're being asked to bail out here, and why."
Where is the outrage? Why isn't Harry Reid demanding hearings about this? Chris Dodd is in the pocket of "big mortgage" and he gets a pass?
I as an American citizen demand that all of Chris Dodds assests as well as his fameilys be frozen, his passport revoked, and he be incarcerated with out bail until such time when he can be put on trial and found guilty of excepting bribes in return for political favors. Outrageous. Harry Reid should resign his leadership post as well as his senate seat, and I mean yesterday. He and the rest of his ilk are scum who have absolutly no right to pass laws which effect the country.
When will the American people stand up and say enough is enough and demand an end to the corruption that seems to be running rampit on both side of the isle?
Wednesday, June 18, 2008
Failed Policies Of The Past
The failed US tax code.
The failed welfare system
The failed social security system
The failed Medicare system
The failed war on poverty
The failed energy policy
The failed education system
The failed immigration policy
The failure to rein in uncontrolled growth of government
The failure to protect the US from terrorists
The failed “New Deal”
The failed “Great Society”
Surely these are the things he is referring to right?
Don’t forget that democrats brought the failed policies of the past upon us.