Tag Archives: Barney Frank

S and P downgrades USA credit rating AA+

The credit rating agency said that it is cutting the country’s top AAA rating by one notch to AA-plus. The credit agency said that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country’s debt situation.

A source familiar with the discussions said that the Obama administration feels the S&P’s analysis contained “deep and fundamental flaws.”

S&P said that in addition to the downgrade, it is issuing a negative outlook, meaning that there was a chance it will lower the rating further within the next two years. It said such a downgrade to AA would occur if the agency sees less reductions in spending than Congress and the administration have agreed to make,higher interest rates or new fiscal pressures during this period.

http://finance.yahoo.com/news/SampP-downgrades-US-credit-apf-2107320979.html

Earlier on Friday the DNC claimed victory for Obama in the debt deal:

Democrats won the debt ceiling fight and they have the poll numbers to prove it, says Patrick Gaspard, the former White House official now running the Democratic National Committee.

“This agreement was a stinging defeat for the Ryan/House Republican Budget approach,” read a memo signed by Gaspard, “and was also a thorough rejection of the GOP’s so called ‘Cut, Cap and Balance’ plan, which was simply the Tea Party version of the Ryan plan on steroids.”

Okay. They claim they won the debt ceiling fight, therefore they own it. 

They boast of their rejection of the Cut, Cap, and Balance plan, even though had it been adopted, the downgrade would have been avoided.

 “When the nation is downgraded, and markets crash, the American people now have someone to blame: Those senators that refused to take the opportunity presented by ‘Cut, Cap, and Balance’ to restore order to the nation’s fiscal house.” (Americans for Limited Government)

Cut, Cap, and Balance was passed by the House and went to the Senate on July 22, 2011, where it was promptly TABLED without debate or vote.  It could have been passed and signed into law, avoiding further delays and  the credit rating downgrade.

HOWEVER, HARRY REID HAD ALREADY DECLARED IT WOULD NOT PASS, WOULD NOT PASS, WOULD PASS AND OUR PRESIDENT SAID HE WOULD VETO IT IF IT PASSED. 

ttp://townhall.com/tipsheet/katiepavlich/2011/07/22/democratic_senate_kills_cut,_cap,_balance

Posted:  08.05.11 @ 9:55 p.m.   Updated:  08.06.11 @ 3:48 p.m.

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Democrats are NUTS – Unemployment grows the economy?

These  people are NUTS.

“Speaker of the House, Nancy Pelosi, announced Wednesday that food stamps and unemployment benefits are one of the best ways to help grow the economy.”

And Barney Frank and Joe Biden agree.  I saw a link where Media Matters has said, “Yes, they are right,” which I would not click on and read for any amount of money.

They are stupid, delusional, crazy, and I guess they think that people are going to believe that food stamps and unemployment benefits actually GROW THE ECONOMY???  I cannot believe Pelosi and Frank were re-elected.  I cannot believe it.  Supposedly some economist has said, yes, they are right.  Well, whoever that is stupid, too.  Must be the same economist who said the stimulus money would actually stimulate the economy and keep unemployment no higher than 8 percent – all those shovel-ready jobs that did not exist.

And so unemployment goes up to 9.8, Obama goes to Afghanistan and leaves Joe Biden holding the bag.  I am sure the troops were happy to see him. I know I had to turn off the tv when he came on because if I hear one more word from him and his busted lip, I am going to scream.

Joe Biden has demeaned himself beyond repair by becoming a part of this madness.

And as you may have guessed I can’t stand any of them.  I mean I can’t stand them.  Someone may say that is a little extreme.  But I ask you:  They are all running this country in the ground and I’m supposed to like or respect them?   They disrespect me and the American people by lying and trying to deceive us and I hold them in as much contempt as they do me.

I wish I were a registered democrat so I could go down to the elections office and change it – but I’ve already done that.  My family has always been democrat, grandparents, parents, all of them.  They would turn over in their graves if they could hear or see what is going on in this country.

Posted:  12.03.10

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Featuring democrats in congress way too long (video)

Democrats have had control of the congress since 2006, and most of them featured in this video have been in congress for the better part of 30 years.  They have participated in stealing the social security money and spending it as general budget funds.  Money for nothing and homes for tree.  They have fully participated in the entire decline we are currently experiencing.  Let’s vote them out.

Countdown to November 2nd

 

Posted:  10.23.10

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Barney Frank challenger, Sean Bielat, gains momentum, funds

With the respected, nonpartisan Cook Political Report shifting Barney Frank’s Massachusetts district from “solid” Democratic to “likely” Democratic and what appears to be the increasing momentum of his Republican challenger Sean Bielat, the National Republican Congressional Committee may be putting its money into the race. Bielat had lunch with Whip Eric Cantor Tuesday, and a spokeswoman for Bielat said “we expect some resources” from the NRCC “going into the home stretch.”

NRCC spokesman Tory Mazzola said the NRCC is “keeping an eye” on the race “because over the last few weeks it’s become very competitive.”

Privately, a Republican operative said Cantor’s lunch with Bielat was illustrative. “That would certainly be an indication this is winnable,” the source said. A major Tea Party group has also vowed to pour money into the race.

Read more: http://dailycaller.com/2010/10/13/nrcc-money-to-retire-barney-frank/#ixzz12Fj76CeE

http://www.byebyebarney.org/

*****

”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. [NYT 09.03]

 

If ever there was a man who deserved to be defeated,  it is the arrogant, rude, corrupt Barney Frank.

Previous post.

Posted:  10.13.10

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Sean Bielat can defeat Barney Frank

Barney Frank’s republican opponent Sean Bielat is moving up in the polls.  -[Cheering.]  Wouldn’t it be sweet to see Barney Frank ousted?  Barney has called in Bill Clinton and is blaming – get this – Sean Hannity for his sinking popularity.   No, it’s nobody’s fault but his. [ http://www.youtube.com/watch?v=rIzLbBeUW28 ]

”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. [NYT 09.03]

See previous post

*****

Meet Sean Bielat. He’s a former active duty Marine officer, and served 7 years in the Marine reserves with the rank of Major. He has an MA in public policy from Harvard. And he’s currently an IT consultant. From his Bio:

Sean, 34, and his wife are residents of Brookline, MA. They are members of St. Mary of the Assumption Catholic Church in Brookline.

http://www.zimbio.com/Barney+Frank/articles/DqJaLmW_w1P/Barney+Frank+got+opponent+Libertarian+Republican

http://seanforcongress.com/

Remember, the Todd/Frank finance bill they just passed that was supposed to fix all problems did not even address Fannie and Freddie.  And now foreclosures are in a mess and likely will be frozen. About the only thing their bill did was give permission to raid the treasury without even going before congress.  And, of course, a whole new federal agency falsely passed off as “consumer protection legislation.”  Right.  They are coming to help us.   Credit card companies are doubling down now to get ahead of it and it gives the government a free hand to now track our financial records.  Think about it.  The federal government having our medical and financial records at their fingertips.

You can build, you can buy, any house your heart desires. Zero down financing,I am the banking queen…..

Friday night and your cash is low,I know a place where you can go/Get your house and use it,go ahead abuse it, you can do anything.Go out and have a fling,I am the banking queen,old and sweet,didn’t do a thing!Banking queen don’t complain or you’ll hear me scream Oh yeah….chorus

Told the bankers, Hey you guys! Make the loans or it’s your behind. My friends at Fanny sure need it, do it my way or beat it, while the stock’s crashing. That doesn’t mean a thing, I’m still the banking queen–no respect for a single thing. Banking queen don’t compwain or you’ll here me scream!

Posted:  09.28.10

Updated:  10.10.10 @ 12:20 a.m.

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Filed under Human Interest, patriotism, politics

Compromise reached on Dodd-Frank Bill in dead of night

“Woe to those who go to great depths to hide their plan…..who do their work in darkness and think, “Who sees us? Who will know?”

I don’t understand what this 2,000 page bill means.  But how could I when the co-sponsor, Chris Dodd, says “no one will know what it means” until it’s put into place.  That seems to be their mantra – wait until it’s passed and then you will find out what’s in it. Don’t worry about a thing, you’ll understand it better by and by.

Judd Gregg says this:

“It will not encourage much-needed stability and confidence in our financial markets. It will not significantly reduce systemic risk in our financial sector.”

And I’ll take his word for it.

And so once again in the dead of night, these people wheel and deal with our lives.  The following excerpt states that there will be a “potential vote in both houses” next week.

Key House and Senate lawmakers approved far-reaching new financial rules early Friday after weeks of division, delay and frantic last-minute deal-making. The dawn compromise set up a potential vote in both houses of Congress next week that could send the landmark legislation to President Obama by July 4.
Lawmakers pulled an all-nighter, wrapping up their work at 5:39 a.m. — more than 20 messy, mind-numbing hours after they began Thursday morning.
“It’s a great moment. I’m proud to have been here,” said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. “No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”
The last thing they did, at dawn, was name the bill after it’s sponsors, Barney Frank and Chris Dodd. (HR 4173 FKA S. 3217) Don’t they make a cute couple?  Check out their photo on Drudge.

Ironically, it was Barney Frank and Chris Dodd who presided over and aided the crumbling of the banks, heading up the congressional committees responsible for overseeing the banking industry.  Now we have them presiding over the “fix.”  Wow.  Is there any wonder people are thoroughly fed up with Washington, D. C.

But potential vote does not mean it’s a done deal.  I am not for passing anything whatsoever that comes out of this congress.  Good, bad, otherwise.

I was always taught that anything done after midnight didn’t need doing.  But looks like we’ll have to stay up day and night to keep an eye on these people who claim to be representatives of the people.

Wonder which yellow RINO is primed to vote for this? [Note: Answer to this was revealed July 15th. Surprise…..Brown, Collins, Snowe.] It usually only takes one or two.  Watch them.  Support their opponents.  Vote them out in November.

FOUR republicans supported a previous version.  Don’t know who they were, but I’ll look it up. (This may be wrong.  One source looks like no republicans voted for it, but I’m still checking) – I give up.  Senate voted in May, 2010, to pass bill.  Changed S. 3217 to H. R. 4173.  It passed with Scott Brown, Susan Collins, and Olivia Snowe voting Yes.  Finally found the fourth one – Chuck Grassley.

When the president was asked did he think it would pass the full Senate, he said “You bet.”

Some details:

http://thehill.com/blogs/on-the-money/corporate-governance/105593-dodd-frank-bill-would-bring-about-sweeping-changes-to-wall-street

Posted:  06.25.10  Update:  06.28.10 @ 1:08 a.m.

“Men have preferred darkness to light because their deeds were evil. Everybody who does wrong hates the light and keeps away from it, for fear his deeds may be exposed.”

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Filed under Financial Crisis, politics, Uncategorized

What will happen to Fannie and Freddie? So you think Obama’s a socialist? (Update)(Update2)

Recently on The O’Reilly Factor:

The question is asked, “So you think Obama’s a socialist?”

Newt Gingrich says, “Sure.  Of course he is.”

Bill O’Reilly says, “I think he’s Lyndon Johnson on steriods.”

Listen to the whole exchange:

Here’s link to the interview:  http://www.youtube.com/watch?v=4ra6P6dG4v8

Bill O’Reilly starts out by making this statement:  “Socialist? – [does that mean that] if he could, he’d take your house because that’s what socialists do?”

My opinion, I think he would without a doubt take total control of everything, including your house.  Valerie Jarrett makes a telling comment while discussing how simple-minded the Tea Partiers are, how they are in need of a brochure or phamplet to explain health care to them in terms they can understand :), she said, referring to health care –

“If he (President Obama) could do it unilaterally, he would have done it a long time ago, I can assure you of that.” [At 2:24]

I heard the President make a similar statement himself recently.  And I am sure he would, but that pesky congress keeps getting in the way.  I think Obama wants to rule, not govern.  What was it President Bush said?  “Dictators are fine as long as I’m the dictator.”

But back to houses:

Barney Frank, the chairman of the House Financial Services Committee, called Friday for a new system for providing money for home loans and the elimination of Fannie Mae and Freddie Mac.

“I believe this committee [The House Financial Services Committee] will be recommending abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance,” Mr. Frank said at a hearing on executive compensation issues. “That’s the approach, rather than the piecemeal one.”

While chief executives of Fannie and Freddie could be paid upwards of $6 million for 2009, the Obama administration has said they will cover UNLIMITED LOSSES through 2012.

I wonder why now suddenly Barney Frank wants to dismantle Fannie and Freddie.  Some believe they should be privitized and some think they should become full fledged government agencies.  The Obama administration is supposed to address their position when the budget is released next month.

“If he could, he’d take your house because that’s what socialists do.”  I think this was meant to demonstrate that since Obama was not taking any houses, then he could not be a socialist.

Freddie and Fannie already owns or guarantees about 31 million home loans, which is about half of all the mortgages in the United States.  Now, if Fannie and Freddie become federal agencies, then who would actually own these homes?

I would like to know why Mr. Fannie and Freddie, Barney Frank, is now advocating they be dismantled.

Something smells.

UPDATE:  Fannie Mae seeks ANOTHER  $15 billion from their UNLIMITED draw on the U. S. Treasury. (They’ve already gotten $60 billion since April.) Bloomberg.

UPDATE:  Here’s another article on Fannie and Freddie asking for more money. Friday Debt Dump/Newsbusters.

A comment left by Taqiyyotomist

on Gateway Pundit referencing this Friday Dump piece:

“”Jim, I don’t know if you’ve seen this:
“After the closing bell on Friday, just in time for everyone to stop paying close attention, mortgage behemoth and ward of the state Fannie Mae (“Fan”) released its fourth-quarter and full-year financial results. Its press release (PDF) informs us that its $74.4 billion loss in 2009 (inclusive of dividends paid to the government) followed a $58.8 billion loss in 2008. ”

Friday Debt Dump. These people who just lost, apparantly, four times as much money as Bernie Madoff embezzled, and three times as much money as Enron “lost”.

Madoff and Ken Lay are in JAIL. **

The people who did this are our president, Chris Dodd, Barney Frank, Franklin Raines, and a host of other looters who should also be sent to JAIL, and with a term length in proportion to those given to Madoff and Lay. If not more.

But no, they still pretend to run our country, while embezzling better than the best and most notorious embezzlers. Now Fannie and Freddie want another $15 billion.

And then there are the millions of people who took home loans that they lied about their income to get. Then there are the community organizers who convinced millions to do this. Then there is the entire social-service government sector whose employees, like ACORN employees, advise the poor on new and improved ways of lying on the forms, filling in all the proper fields with just the right lies.

This nation is due some serious justice. Justice is sorely lacking now. The embezzlers are in charge.””

**Note: [Well, Ken Lay was headed to jail but died before he could get there.]

 

See Previous Post

Also, Here and Here Sources.

H/T to KJ at You Have to Be This Tall Blog.

Posted: 02.24.10  Update:  02.26.10  Update2:  02.27.10

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Filed under Barack Obama, Financial Crisis, Human Interest, politics, President Barack Obama, Uncategorized