Category — Barney Frank

Financial Crisis Explained Part 3 - Must See Videos

Here are a couple more videos that need to be circulated around the web. Please email them to all of your friends and family. If they are relying on the mainstream media for their news, they will never be able to make an informed decision on election day.

First up is a new web ad put together by someone on YouTube. The McCain campaign or the GOP should hire him. (HT: RedState)

The next video comes from out of left field (literally). It features ultra liberal Alec Baldwin blaming democrats. If a dimwit like Alec Baldwin can admit this, there may be hope yet for the rest of America. You only need to watch the first few minutes. (HT: Newsbusters)

Previously posted videos can be seen here and here.

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October 8, 2008 at 9:35 am   1 Comment

Racism Everywhere You Look

Earlier this week, AP told us it is racist to question a black presidential candidate’s friendship with a domestic terrorist who is white.

Now Barney Frank says it is racist to question him about his role in the Global Financial Crisis that he helped create.

Is it any wonder that people lie to pollsters when a black candidate is involved?

Update: Wow, CNN actually ran a mostly unbiased report about Obama and Bill Ayers. They must be racists too!

I hope Anderson Cooper doesn’t plan on going to any cocktail parties soon.

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October 7, 2008 at 2:10 pm   8 Comments

New Party formed

For all of you that eschewed the formation of a third party, your position has been usurped.

Congress announced the formal conjoining, creating the “Parti de Prostituto” or in honor of all the illegals in the country, the PUTA Party. New symbols are needed to recognize the members so feel free to copy and mail them out to your elected officials.

new-party-01.jpg Harry Reid and Nancy Pelosi befittingly will lead this new group as they are very experienced in such matters.

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October 4, 2008 at 10:01 am   Comments Off

Braney Frank gets “reamed”

Oh this is worth it!

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October 3, 2008 at 12:38 pm   2 Comments

What others say

Government Fearmongering

This is what all this crap amounts to coming from congress and the MSM. Go find a decent economist to read, start here in the UK paper:

Why propping up banks will not rescue a debauched financial system

This view gives a perspective needed. The only sector really in trouble is the financial section. The persons running the broken banks are toxic and no money will cure them. A large pit burial with heavy liming is in order.

Moving on, from the Next Right…

The financial crisis is beyond my ken, I freely admit.  When the complexities grow too much for the layman, though, I find it useful to remind myself of the basic realities of government.

The government is not responsible with your money.

Four years ago, privatization of Social Security was scuttled in large part because Congress thought it unfair to toss the average taxpayer into the volatile marketplace with his/her retirement savings.  Now, the government is forcing us all to participate in the financial markets, but only allowing us to invest in the worst assets.  Just great.

As University of Chicago economist Casey Mulligan points out, if there is no bailout, it’s Wall Street, not Main Street that will take the brunt of the punishment. This isn’t 1929, folks, and the non-financial sector of the economy seems to be doing fine. Why?

We need the Donald to go to DC and tell Paulson, “YOU’RE  FIRED.”

Ed Mann has one of his more mild posts on this rescue.

Wall Street doesn’t need a bailout; it needs to dryout. That’s when the DT’s will go away.

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October 1, 2008 at 9:15 am   Comments Off

Bonfire of their Vanities

The last bump of this size Bush called an adjustment; that was Lehman Brothers tilting over. This is nothing more than another adjustment.
However, this one will involve a bunch of swells cutting up their credit cards, selling (if they can beat the repo man) the M3, the Lexus or the Mercedes, the plasma screen TV and every bell and whistle they couldn’t do without because “Bob had one.”
Have you ever seen a stockbroker bang nails or replace a 20-amp breaker? Life inside the “gates” is going to become amusin’.
Here’s a flash for you. The only ones that will get it in the neck are those living on next year’s income. IRA’s, 401k and pensions will take a hit but only those without diverse holdings will drop severely.
If you were flipping houses or specing condominiums, greed gotcha.

In Europe, the elite, those that can tell all how it should be, have their knickers in a wad.

Bailout failure ‘will cause US crash’

The US stock market could suffer a devastating crash with shares losing a third of their value this week if Hank Paulson’s financial bailout plan fails, US Treasury officials have warned.

The financial system could face a meltdown of 1929 proportions unless US politicians succeed in their efforts for a $700bn rescue scheme, experts added. [snip]

Well they certainly are busy telling us what to do. For good reason it seems when one looks at their markets. But, they seem to have it a bit backwards, for their markets visited the loo quickly and in earnest.

Investors fretted about contagion into Europe, where Fortis, which was part of the consortium that bought ABN Amro last year, fired its chief executive after liquidity concerns pushed shares down more than 20pc to a 14-year low. Holland’s ING and BNP Paribas are looking at buying the bank this weekend.

London investors have warned that the FTSE could suffer falls of as much as 1,000 points - a fifth of its value, if the deal falls through.

Peter Spencer, economic adviser to the Ernst & Young Item Club, said: “This is the time you have to bail people out and ask questions later. It is very difficult to see how the US banking system would survive without that.This has the potential to make 1929 look like a walk in the park.”

Of course, it’s the bloody colonials doing it again. Have we no shame! Well, this time we’ll be generous and let the Tories have the soup lines.

[snip]
Markets were anxious about Britain’s fast deteriorating economic outlook and the stability of its banking sector as B&B followed Northern Rock in being nationalised. The worries followed the fire sale of HBOS, the nation’s biggest mortgage lender to Lloyds TSB, and led to the London stock market succumb to a fresh hammering of its leading shares. [snip]

The euro also fell heavily against the dollar amid concern over the eurozone’s banking strife and the adequacy of arrangements for bank rescues in the 15-nation bloc. The euro lost as much as 1.8 per cent against the dollar, falling to levels of about $1.4340 from a US close of $1.4613 on Friday.
Tokyo’s Nikkei 225 index was down 1.3 per cent at 11,743.61, and Hong Kong’s Hang Seng Index shed 2.1 per cent to 18,286.90.
“They’re worried that another fire is starting in Europe,” said Castor Pang, an analyst at Sun Hung Kai Financial in Hong Kong.

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September 29, 2008 at 6:46 pm   Comments Off

Getting it in the shorts

I guess this is how the government will fund the bail out of AIG, the next bank (which will be either Citi or WB).

Go here for the hand in your wallet.

BTW, the bail out of Freddie  and Fannie were not put on the government books. Seems that would have blown the budget. Nah, who would have thunk it? Lets see you keep some of your earnings off the books.

“The reason Social Security isn’t on the books.” says that brilliant economist, Barney Frank, “is that it is ‘voluntary’.”

Isn’t he great! He’s appearing all week; give him a big hand and don’t forget to tip the hatcheck girl on the way out.

We have our own idiots in Vermont like Welch and Leahy, but your clown is in a class by himself.

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September 17, 2008 at 10:19 am   Comments Off