The tentacles of Fannie Mae extend
to the carbon credit scam.
Barbara Hollingsworth unveils more
hijinks at Fannie Mae :
When he wasn't busy helping create
a $127 billion mess for taxpayers to
clean up, former Fannie Mae Chief
Executive Officer Franklin Raines, two
of his top underlings and select individuals
in the "green" movement were inventing a
patented system to trade residential
carbon credits.
Patent No. 6904336 was approved
by the U.S. Patent and Trade Office
on Nov. 7, 2006 -- the day after
Democrats took control of Congress.
Former Sen. John Sununu, R-N.H.,
criticized the award at the time, pointing
out that it had "nothing to do with Fannie
Mae's charter, nothing to do with making
mortgages more affordable."
It wasn't about mortgages.
It was about 'green'backs.
The patent, which Fannie Mae
confirmed it still owns with Cantor
Fitzgerald subsidiary CO2e.com, gives
the mortgage giant a lock on the fledgling
carbon trading market, thus also giving
it a major financial stake in the success
of cap-and-trade legislation.
The agency has long been a money
exchange for the Democratic Party
and its former head Franklin Raines
seems to have profited the most in his
short time there despite its role in the
housing and banking crash and the
funny money accounting on his watch.
http://www.americanthinker.com/blog/2010/04/more_fannie_mae_hijinks_expose.html
Global Commie Corporate
Unionist Criminal Spend
& Tax Frenzy :
When revenues crashed,
congressional Democrats sent a
third of the money in their $862 billion
February 2009 stimulus package to
state and local governments.
The stated reason was to
prevent interruption of services.
The political motive was to maintain
existing state and local payrolls and
to keep the dues money flowing to the
public-employee unions that were so
generous to Democrats in the 2008
election.
But that was one-time relief.
As New York's Democratic Lt. Gov.
Richard Ravitch notes,
"The stimulus package just raised higher
the cliff from which we all will have to
jump off."
Revenues still lag beneath
the trajectory of spending.
In 2005, California Gov.
Arnold Schwarzenegger backed
ballot propositions to reduce the
power of public-employee unions.
The unions spent something like $100
million -- every dollar ultimately provided
by taxpayers -- to drive Schwarzenegger's
numbers down and beat the propositions.
That came at a time
when surging prosperity
seemed likely to continue.
After losing on the ballot propositions,
Schwarzenegger was unable or unwilling
to stop the public-employee unions and
obedient legislators and local officials from
spending every dollar available
and many more.
After the financial crash in 2008,
revenues crashed, and California state
government faces something like insolvency
http://www.americanthinker.com/blog/2010/04/dc_vs_america_on_taxes.html
Global Commie Corporate
Unionist Criminals ;
Dirty Deeds Not Done Cheap ;
The City of Cambridge, MA
has published their Fiscal Year 2011
One-Year Action Plan , which lists 64
different government programs that
"the City of Cambridge anticipates
utilizing with HUD appropriated
funds" to address "the housing
crisis."
Multiply the 15 state resources
by 50 states (750) and the 15 local
resources by the 273 municipalities
with more than 100,000 residents
(4095).
That's a lot of SEIU assistant
administrators and diversity
coordinators.
HUD Secretary Shaun Donovan
boasts that "the proposed 2010
budget exercises strong fiscal discipline,
consolidating or eliminating 27 programs
and activities," a claim belied by the fact
that HUD's budget rose 10.8% in 2010,
from $41.8 billion to $46.3 billion.
One can argue that government should
get out of the housing industry altogether.
See, for example, Howard Husock's
book, America's Trillion Dollar Mistake :
The Failure of American Housing Policy.
But if the government is going to supply
"affordable" housing, why do we need to
address the problem in 64 different ways?
http://www.americanthinker.com/blog/2010/04/64_government_housing_programs.html
Global Commie Corporate
Unionist Criminal Race Players
Charge Their Critics With
Sedition :
For the past year,
the Obama administration, unable to
win arguments based on facts and merit,
has been moving to criminalize the political
opposition in an effort to artificially control
the debate.
First, the DHS published reports
classifying conservative viewpoints
as terroristic.
Then hate crimes legislation
was introduced to squash religious
speech regarding sexual deviancy.
And finally, Regulatory Commie
Czar Cass Sunstein claimed the power
to ban "falsehoods," an infraction Sunstein
in his infinite nonpartisan wisdom would
define and determine.
And now,
the ultimate political A-bomb
has been introduced into the public
discourse : the charge of sedition.
"Sedition" is a historically loaded word,
since it is primarily associated with the
jailing of political opponents and has
traditionally been hard to identify.
Those in power usually wield
the "sedition" slur as a bludgeon against
anyone who stands in the way of their
agenda, whatever that may be.
But due to the fact that so-called
sedition is so frequently associated
with issues of free speech, the Supreme
Court of the United States (SCOTUS)
has ruled numerous times that anti-sedition
laws are unconstitutional.
Translation :
Sedition is constitutional
http://www.americanthinker.com/2010/04/sedition_is_constitutional.html
Global Commie Corporate
Unionist Criminal Welfare
Taxpayer Handout Bill :
The country fears big government
a lot more than they fear big business ;
The financial regulation bill
is a disaster in three major respects :
1. It gives incentives for irresponsibility
by, in effect, guaranteeing banks' survival
by establishing a $50 billion rescue fund.
In doing so, it gives the large banks
a huge advantage and extends to them
the same kind of implicit guarantee that
once encouraged the likes of Freddie Mac
and Fannie Mae to go on their lending spree.
It is a key step in the conversion
of big banks into quasi-public institutions,
ultimately controlled by the government,
levers through which the public sector
can control the private.
2. By vesting the secretary
of the Treasury with the power to seize
- in a hostile takeover - any financial
institution he deems too big to fail, it puts
at risk of public takeover every
such company in the nation.
3. The newly established
Consumer Financial Protection Agency
will have the power to approve or reject
any loan instrument offered by any
company in the land.
Obama's power-grabs
have been so frequent and so blatant
that he has no credibility on this subject.
Voters expect him to be fighting
to grow government and to be hostile
to private enterprise.
And they are wise
to his close connection with Wall Street
http://thehill.com/opinion/columnists/dick-morris/94653-gop-fight-financial-regs
Global Commie Corporate
Unionist Criminal Welfare
Taxpayer Handout
Ponzi Scheme :
The recent financial crisis
was to a large degree the result
of the housing crisis, which in turn
was the result of a reduction in the
value of homes from over inflated
values.
Very basically,
mortgages were given to borrowers,
and then these mortgages were bundled
into "mortgage backed securities,"
leveraged sometimes more than thirty
times, and presented to investors as
relatively safe investments.
When more homeowners than usual
couldn't pay their mortgages to the
investors because they overpurchased,
the effect was significantly multiplied
by the leverage.
If only two percent of the mortgages
went to foreclosure, but the portfolio
of mortgage backed securities was
leveraged at thirty times, then the
effect would be a 60% loss.
These foreclosures became known
as toxic mortgages and were the
contagion by which the financial
crisis spread.
The above explanation
is dangerously simple but important
to touch on because to a large extent,
the government intervention in the market
directly caused this financial crisis through
at least three interventions
http://www.americanthinker.com/2010/04/george_soross_new_economy.html
Global Commie Unionist Corporate
Criminal Global Warming Frauds :
The Global Warming alarmists
who want to wreck the world economy
over an illusory danger, have already
wrecked the finances of airlines and
stranded passengers over an illusory
danger, based on computer models
from the same UK bureaucrats.
The UK Met Office is responsible for
predicting that the ash cloud from the
Icelandic volcano would destroy
aircraft engines.
They were wrong, because their
computer models were wrong.
The Met Office and its faulty computer
models should not be allowed to destroy
the economies of the advanced countries.
This incident should increase public
skepticism over doomsday predictions
of the alarmists, which are all based on
computer models riddled with dubious
assumptions.
The havoc imposed on the airlines
and flying public is but a pale indicator
of the disruption and ruin that would be
caused by Cap and Trade, carbon credit
trading, and other schemes dreamed up
to prevent a disaster even more dubious
than the supposed ash cloud, now discredited
http://www.americanthinker.com/blog/2010/04/the_great_phony_volcano_ash_sc.html
