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Posts Tagged ‘Bush’

Some Bailout Numbers Revealed.

by coldwarrior ( 49 Comments › )
Filed under Economy, government at August 22nd, 2011 - 11:30 am

These numbers are just staggering.

Wall Street Aristocracy Got $1.2T in Loans

Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.

By 2008, the housing market’s collapse forced those companies to take more than six times as much, $669 billion, in emergency loans from the U.S. Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from the U.S. Treasury, yet until now the full amounts have remained secret.

Fed Chairman Ben S. Bernanke’s unprecedented effort to keep the economy from plunging into depression included lending banks and other companies as much as $1.2 trillion of public money, about the same amount U.S. homeowners currently owe on 6.5 million delinquent and foreclosed mortgages. The largest borrower, Morgan Stanley (MS), got as much as $107.3 billion, while Citigroup took $99.5 billion and Bank of America $91.4 billion, according to a Bloomberg News compilation of data obtained through Freedom of Information Act requests, months of litigation and an act of Congress.

“These are all whopping numbers,” said Robert Litan, a former Justice Department official who in the 1990s served on a commission probing the causes of the savings and loan crisis. “You’re talking about the aristocracy of American finance going down the tubes without the federal money.”
Foreign Borrowers

It wasn’t just American finance. Almost half of the Fed’s top 30 borrowers, measured by peak balances, were European firms. They included Edinburgh-based Royal Bank of Scotland Plc, which took $84.5 billion, the most of any non-U.S. lender, and Zurich-based UBS AG (UBSN), which got $77.2 billion. Germany’s Hypo Real Estate Holding AG borrowed $28.7 billion, an average of $21 million for each of its 1,366 employees….

The $1.2 trillion peak on Dec. 5, 2008 — the combined outstanding balance under the seven programs tallied by Bloomberg — was almost three times the size of the U.S. federal budget deficit that year and more than the total earnings of all federally insured banks in the U.S. for the decade through 2010, according to data compiled by Bloomberg…

‘The Cheapest Source’

Herring, the University of Pennsylvania professor, said some banks may have used the program to maximize profits by borrowing “from the cheapest source, because this was supposed to be secret and never revealed.”

Whether banks needed the Fed’s money for survival or used it because it offered advantageous rates, the central bank’s lender-of-last-resort role amounts to a free insurance policy for banks guaranteeing the arrival of funds in a disaster, Herring said.

An IMF report last October said regulators should consider charging banks for the right to access central bank funds.

Please Read the Rest here, its a long article with some very very good information.

Obama and Progressives resort to Bush Bashing

by Phantom Ace ( 36 Comments › )
Filed under Barack Obama, Liberal Fascism at July 29th, 2009 - 7:44 am

With his poll numbers collapsing and his real agenda being exposed, Obama and the Progressive Attack Machine are doing what they do best: Bush Bashing. I was not a supporter of Bush, however I don’t blame him for all the ills that have effected America. Bush’s biggest mistake was not in fighting back against the Progressive Machine. He allowed them to turn him into a caricature and this helped do the Republicans in. Now that their agenda is in trouble, it is back to Bush bashing time.

Facing the first real rough patch of his presidency, President Obama and his supporters are once again resorting to a tried-and-true tactic: attacking George W. Bush and Dick Cheney.

In his White House press conference last week, Mr. Obama referred to the Bush era at least nine times, three times lamenting that he “inherited” a $1.3 trillion debt that has set back his administration’s efforts to fix the economy.

With the former president lying low in Dallas, largely focused on crafting his memoirs, Mr. Obama has increasingly attempted to exploit Mr. Bush when discussing the weak economy, the wars in Iraq and Afghanistan and the difficulty closing the military prison at U.S. Naval Base Guantanamo Bay, Cuba.

Read the rest.

Bush bashing will not work for Obama and the Progressives this time. They are in charge and imposing their agenda. Americans are realizing what the Progressives really are about. No amount of Bush bashing will help them.

Democrats still planning on running against Bush

by Phantom Ace ( 64 Comments › )
Filed under Democratic Party, Elections, George W. Bush at June 8th, 2009 - 12:01 pm

This would be too funny if it wasn’t also pathetic. Democratic candidates are still sticking to the anti-Bush script from 2006 and 2008.

Democratic candidates adopt anti-Bush strategy

WASHINGTON — Many Democratic candidates are planning to run against two Republicans in the next election — their GOP opponent and former president George W. Bush.

When former U.S. attorney Chris Christie, a Bush appointee, won the Republican nomination for governor of New Jersey last week, Democratic incumbent Jon Corzine welcomed him to the race by attacking his former boss.

“I’m not about to put my trust in the same people who gave us George W. Bush, Dick Cheney or John Ashcroft,” Corzine said, throwing in Bush’s vice president and first attorney general for good measure.

The Corzine-Christie contest is this November. Other Democratic candidates will likely bash Bush throughout the 2010 election season, predicts Stuart Rothenberg, publisher of a non-partisan political newsletter. “You’ll hear Democrats say, President Obama is still trying to clean up the mess of the Bush years,” he says.

Bush is gone and I hope this strategy doesn’t work. The sad part is that there is a chance it might work since Bush is hated by the majority of the population. The Republicans should remind people that Bush is gone and not coming back.

U.S. Training “Palestinian” Army; Warns They Might Become Terrorists

by WrathofG-d ( 15 Comments › )
Filed under Barack Obama, Democratic Party, Egypt, George W. Bush, Islamic Finance, Islamic Terrorism, Islamists, Israel, Jihad, Leftist-Islamic Alliance, Middle East, Military, Palestinians, Politics, Republican Party, Terrorism at May 15th, 2009 - 11:31 am

Since at least 2006, the U.S. has been funding and training -to the tune of 161 million American tax dollars so far- a huge, and professional “Palestinian” army to take over when if they get another state.  The individual heading this future debacle is Lt. Gen. Keith Dayton, U.S. security coordinator for Israel and the Palestinian Authority.   Lt. Gen Dayton has lived and worked in Jerusalem and across the West Bank, overseeing the creation of three “Palestinian” battalions of troops, hand-picked in the West Bank, trained at an academy in Jordan, and then deployed in the Judea and Samaria.  These three 500-man battalions are intended to grow, to as many as ten battalions.  During a speak to the  Washington Institute for Near East Policy (“WINEP”) Dayton stated that their mission is to “create a Palestinian state.

Frighteningly, the training which has already occurred is only the beginning.  While speaking in Tukarm (In Judea/Samaria) Lt. Gen Dayton stated that “If it goes the way the administration has asked for, we will accelerate dramatically what we are doing here in terms of training and equipment, and filling in the gaps in between.”

The additional training program requires approval from Congress for more funding that would allow the construction for more “Palestinian” military bases in Judea and Samaria.  Without defining the cost of the additional training and construction, Dayton stated it will entail “more financial support than we have ever had before.”  That is quite a statement about a group that has received more than 1 billions dollars per year from the U.S. alone.

Both the past Bush administration and the current Obama government declared the training helps the standing and security of PA Chairman and Fatah leader Mahmoud Abbas, who they foolishly consider a moderate peace partner for Israel, despite his refusal to recognize Israel’s right to exist as a Jewish state, and his “government’s” policy of killing people who sell land to Jews.

This brilliant idea was born of the naive belief that these troops would primarily be deployed against two targets in Judea & Samaria: criminal gangs, and Hamas.  Lt. Gen. Dayton is no dummy.  He fully recognizes that by organizing and training thousands of highly organized “Palestinians”, professionally led, he is creating in effect a nationalist army that like all other attempts to train, fund, and outfit “Palestinians” will be used against Israel.  From his comments to WINEP, you would think that this was actually his intent.

Responding to a question from Paul Wolfowitz, Dayton responded to these concerns by issuing a not-so vailed threat to Israel stating that:  “the troops can only be strung along for just so long…there is perhaps a two-year shelf life on being told that you’re creating a state, when you’re not.”

http://www.oldwardogs.us/files/PaliNaziSalute.jpg

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‘PA Army May Rebel’ if Israel Does not Agree to Peace Demands

His comments were tantamount to a warning that a rebellion is around the corner if Israel does not agree to PA demands, according to investigative journalist Robert Dreyfuss, writing in The Nation magazine.

“To my ears, at least, his subtle warning is that if concrete progress isn’t made toward a Palestinian state, the very troops Dayton is assembling could rebel,” wrote Dreyfuss, who also has authored a book blaming the United States and Israel for having allegedly encouraged the existence of Hamas as a way to weaken former Palestinian Liberation Organization leader Yasser Arafat.

In his speech, Dayton did not detail methods used by the PA security forces, but Human Watch Rights has accused the PA and Hamas of resorting torture to as well as summary executions.  One PA Arab is on death row for the stated crime of selling property to Jews.

He focused on the “national security interest of the United States to help resolve the Israeli-Palestinian dispute” and his re-shaping the PA forces. He said that his position as U.S. Security Coordinator was created “to allay Israeli fears about the nature and capabilities of the Palestinian security forces,” a term used instead of “soldiers” in order not to conjure up an image of a military force in the PA.

However, his comment on the consequences of the failure to establish a new PA state indicated that the PA army – or special force –  might use its counterterrorist training to attack Israel as well as possibly rebel against the PA.

Several terrorist attacks and attempted attacks the past two years have involved PA security forces. In January, 2008, a PA security officer, a PA clerk and a third terrorist were involved in the murders of Ahikam Amihai and David Rubin who were hiking near Hevron. One of the victims managed to kill one of the attackers before succumbing to his own wounds. A third youth escaped unharmed.

{The Rest of The Article}

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Beyond the obvious problems with this scenario (the cost to the American tax payer, the threat to Israel) the training of these troops actually directly conflicts with the “Palestinian” responsibilities per the Oslo Accords -signed by them in 1993 -which limit “Palestinian” military activities. So, once again, while the U.S. is insisting that Israel follow past agreements, they are allowing (and in this case directly assisting) the Arabs flaunt their obligations.


This isn’t the first time that the U.S., or Israel has tried the “let’s train them, and arm them; what could go wrong” tactic towards Arab-Israel peace.  If it were, I just might give it the benefit of the doubt -because I want peace as much, if not more, than the next person.

In only 2006, after the U.S. transferred weapons, money, and training to Abu Mazen’s (Mahmood Abbas) personal “Force 17”, the “Palestinians” stated that they would never use any force against their own people, or Hamas, but instead would us all weapons transferred from the U.S. against Israel.  True to their word, not too long thereafter the weapons were used in a terrorist attack against Israel.

In 2007, (after numerous weapon transfers from the U.S. and Israel) while Hamas was squabbling with Fatah, Palestinian Authority President, Abu Mazen, called on Palestinian factions to put an end to weeks of infighting and instead “raise rifles against the Israeli occupation.”

When will we ever learn?