We've Figured Him Out

Why is President Barack Obama in such a hurry to get his socialized medicine bill passed?

Because he and his cunning circle realize some basic truths:

The American people in their unimaginable kindness and trust voted for a pig in a poke in 2008. They wanted so much to believe Barack Obama was somehow better and different from other ultra-leftists that they simply took him on faith.

They ignored his anti-white writings in his books. They ignored his quiet acceptance of hysterical anti-American diatribes by his minister, Jeremiah Wright.

They ignored his refusal to explain years at a time of his life as a student. They ignored his ultra-left record as a "community organizer," Illinois state legislator, and Senator.

The American people ignored his total zero of an academic record as a student and teacher, his complete lack of scholarship when he was being touted as a scholar.

Now, the American people are starting to wake up to the truth. Barack Obama is a super likeable super leftist, not a fan of this country, way, way too cozy with the terrorist leaders in the Middle East, way beyond naïveté, all the way into active destruction of our interests and our allies and our future.

The American people have already awakened to the truth that the stimulus bill -- a great idea in theory -- was really an immense bribe to Democrat interest groups, and in no way an effort to help all Americans.

Now, Americans are waking up to the truth that ObamaCare basically means that every time you are sick or injured, you will have a clerk from the Department of Motor Vehicles telling your doctor what he can and cannot do.

The American people already know that Mr. Obama's plan to lower health costs while expanding coverage and bureaucracy is a myth, a promise of something that never was and never will be -- a bureaucracy lowering costs in a free society. Either the costs go up or the free society goes away.

These are perilous times. Mrs. Hillary Clinton, our Secretary of State, has given Iran the go-ahead to have nuclear weapons, an unqualified betrayal of the nation. Now, we face a devastating loss of freedom at home in health care. It will be joined by controls on our lives to "protect us" from global warming, itself largely a fraud if believed to be caused by man.

Mr. Obama knows Americans are getting wise and will stop him if he delays at all in taking away our freedoms.

There is his urgency and our opportunity. Once freedom is lost, America is lost. Wake up, beloved America.

By: Ben Stein is a writer, actor, economist, and lawyer living in Beverly Hills and Malibu. He writes "Ben Stein's Diary" for every issue of The American Spectator - on 7.24.09 @ 9:45AM

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Notes From Dr. Charles Krauthammer’s Speech to the Center for the American Experiment

Last Monday was a profound evening, hearing Dr. Charles Krauthammer speak to the Center for the American Experiment. He is brilliant intellectual, seasoned & articulate. He is forthright and careful in his analysis, and never resorts to emotions or personal insults. He is NOT a fearmonger nor an extremist in his comments and views. He is a fiscal conservative, and has a Pulitzer prize for writing. He is a frequent contributor to Fox News and writes weekly for the Washington Post. The entire room was held spellbound during his talk. I have shared this with many of you and several have asked me to summarize his comments, as we are living in uncharted waters economically and internationally. Even 2 Dems at my table agreed with everything he said! If you feel like forwarding this to those who are open minded and have not ‘drunk the Kool-Aid’, feel free...

...A summary of his comments:

1. Mr. Obama is a very intellectual, charming individual. He is not to be underestimated. He is a ‘cool customer’ who doesn't show his emotions. It's very hard to know what's ‘behind the mask’. Taking down the Clinton dynasty from a political neophyte was an amazing accomplishment. The Clintons still do not understand what hit them. Obama was in the perfect place at the perfect time.

2. Obama has political skills comparable to Reagan and Clinton. He has a way of making you think he's on your side, agreeing with your position, while doing the opposite. Pay no attention to what he SAYS; rather, watch what he DOES!

3. Obama has a ruthless quest for power. He did not come to Washington to make something out of himself, but rather to change everything, including dismantling capitalism. He can’t be straightforward on his ambitions, as the public would not go along. He has a heavy hand, and wants to ‘level the playing field’ with income redistribution and punishment to the achievers of society. He would like to model the USA to Great Britain or Canada.

4. His three main goals are to control ENERGY, PUBLIC EDUCATION, & NATIONAL HEALTHCARE by the Federal government. He doesn't care about the auto or financial services industries, but got them as an early bonus. The cap and trade will add costs to everything and stifle growth. Paying for FREE college education is his goal. Most scary is his healthcare program, because if you make it FREE and add 46,000,000 people to a Medicare-type single-payer system, the costs will go through the roof. The only way to control costs is with massive RATIONING of services, like in Canada. God forbid.

5. He’s surrounded himself with mostly far-left academic types. No one around him has ever even run a candy store. But they’re going to try and run the auto, financial, banking and other industries. This obviously can’t work in the long run. Obama’s not a socialist; rather he's a far-left secular progressive bent on nothing short of revolution. He ran as a moderate, but will govern from the hard left. Again, watch what he does, not what he says.

6. Obama doesn’t really see himself as President of the United States, but more as a ruler over the world. He sees himself above it all, trying to orchestrate & coordinate various countries and their agendas. He sees moral equivalency in all cultures. His apology tour in Germany and England was a prime example of how he sees America, as an imperialist nation that has been arrogant, rather than a great noble nation that has at times made errors. This is the first President ever who has chastised our allies and appeased our enemies!

7. He’s now handing out goodies. He hopes that the bill (and pain) will not ‘come due’ until after he’s reelected in 2012. He’d like to blame all problems on Bush from the past, and hopefully his successor in the future. He has a huge ego, and Mr. Krauthammer believes he is a narcissist.

8. Republicans are in the wilderness for a while, but will emerge strong. We’re ‘pining’ for another Reagan, but there’ll never be another like him. Krauthammer believes Mitt Romney, Tim Pawlenty & Bobby Jindahl (except for his terrible speech in February) are the future of the party. Newt Gingrich is brilliant, but has baggage. Sarah Palin is sincere and intelligent, but needs to really be seriously boning up on facts and info if she’s to be a serious candidate in the future. We need to return to the party of lower taxes, smaller government, personal responsibility, strong national defense, and states’ rights.

9. The current level of spending is irresponsible and outrageous. We’re spending trillions that we don’t have. This could lead to hyper inflation, depression or worse. No country has ever spent themselves into prosperity. The media is giving Obama, Reid and Pelosi a pass because they love their agenda. But eventually the bill will come due and people will realize the huge bailouts didn’t work, nor will the stimulus package. These were trillion-dollar payoffs to Obama’s allies, unions and the Congress to placate the left, so he can get support for #4 above.

10. The election was over in mid-September when Lehman brothers failed. fear and panic swept in, we had an unpopular President, and the war was grinding on indefinitely without a clear outcome. The people are in pain, and the mantra of ‘change’ caused people to act emotionally. Any Dem would have won this election; it was surprising it was as close as it was.

11. In 2012, if the unemployment rate is over 10%, Republicans will be swept back into power. If it's under 8%, the Dems continue to roll. If it's between 8-10%, it’ll be a dogfight. It’ll all be about the economy.

I hope this gets you really thinking about what's happening in Washington and Congress. There’s a left-wing revolution going on, according to Krauthammer, and he encourages us to keep the faith and join the loyal resistance. The work will be hard, but we’re right on most issues and can reclaim our country, before it's far too late.

Source: Knowledge Creates Power

Posted: Daily Thought Pad

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Banks to return $68 billion in bailout money

New York buildings are reflected in the window of a Capital One bank office window. The Treasury Department said Tuesday it will allow 10 of the nation's largest banks to repay $68 billion in government bailout money. (AP File)

Ten of the nation’s biggest financial companies got a green light Tuesday to return $68 billion in federal bailout money — freeing the banks from limits on executive pay and leaving the government with a small gain on the rescue cash.

While the paybacks could be a signal that the banking industry is stabilizing, analysts say it is far from a clean bill of health, and some said it was too soon to let the banks give back the money.

Presidential spokesman Robert Gibbs said the returned money would go “back into general revenue” and could even be used to bail out banks again. (And this seems to be the plan… Many banks have wanted to repay stimulus money before but were not allowed because they weren’t ready… per the administration. But now that people are starting to get fed up and money sources are drying up, they need the money, they will take the pay back and do it all again.

Still, the government has collected $1.8 billion from dividends on shares of preferred stock it received in exchange for bailout money, he said. And the government still holds warrants to buy shares of bank stock at cut-rate prices in the future.

The $68 billion in paybacks would be the largest since the $700 billion Troubled Asset Relief Program took effect eight months ago at the peak of the financial crisis. Specifically, the money comes from a $250 billion slice of the $700 billion bailout package.

Other chunks of the $700 billion will be harder, if not impossible, to recover. Some of it, such as $70 billion funneled to failed insurer American International Group Inc., ended up in the pockets of healthier banks that did deals with AIG.

And even the banks getting out from under the TARP still rely on government support, including debt guarantees from the Federal Deposit Insurance Corp. and credit lines from the Federal Reserve.

The banks chafed under restrictions on executive pay imposed by the government for banks that took bailout cash, arguing they were losing top talent to other firms. The administration is expected to roll out new executive pay rules Wednesday that would apply to banks that still have TARP money.

“It’s our obvious hope that additional money is not going to have to be used to stabilize banks,” Gibbs said. “I certainly wouldn’t rule it out.”

Indeed, banking experts stressed that the payments do not signal an end to the financial crisis. In fact, they say, most banks approved to pay the money back never needed it in the first place.

And three major banks that have not been approved by the government to pay the money back — Citigroup Inc., Bank of America Corp. and Wells Fargo & Co. — could need federal help for years to come.

“When a troubled bank is capable of repaying, that would be significant,” said Barry Ritholtz, head of the financial research firm FusionIQ. “But we’re not going to see that anytime soon because they can’t afford it.”

Among the banks approved to pay back their bailout cash are eight that passed the government “stress test” earlier this year: JPMorgan Chase & Co., American Express Co., Goldman Sachs Group Inc., U.S. Bancorp, Capital One Financial Corp., Bank of New York Mellon Corp., State Street Corp. and BB&T Corp.

Those banks had to show they could raise private capital without federal guarantees before getting permission to pay back TARP money.

Morgan Stanley did not pass the test, but got approval to return its bailout money after quickly raising enough capital. And Northern Trust Corp. did not undergo the “stress test” but said it also had received permission to repay its bailout money.

President Barack Obama welcomed the news but said: “This is not a sign that our troubles are over — far from it.”

Indeed, the repayments carry risk. Some say it could create a banking system of winners and losers, with weaker banks stuck with federal restrictions and finding it harder to compete for customers and talent against rivals that operate more freely.

Others say the repayments could conceal problems in the banking industry. Smaller banks are still saddled with billions in risky commercial real estate loans. And large banks still hold the toxic mortgage-backed assets at the heart of the financial crisis.

Paying the government back leaves banks with less protection against future losses, said Christopher Whalen, managing director of the consulting firm Institutional Risk Analytics. And with less capital on hand, they may have to scale back lending.

Other critics said it was dangerous to allow the money to be paid back before the administration overhauls the regulatory framework that governs banks.

“The credit crisis made it clear that the banks acted in irrational and greedy ways. I don’t believe that enough changes have really happened yet,” said Donald Thomas, an independent research analyst.

Adding to the concerns, a report released Tuesday by the congressional panel overseeing the bailout said the hypothetical scenarios used in the “stress tests” might have been too rosy.

That raises the troubling possibility that even raising enough capital to satisfy the government won’t guarantee banks can withstand a deeper recession. And that means the banks might have to seek more federal aid.

Citi and Bank of America, two of the most troubled financial institutions, have taken $45 billion each in bailout money. Wells Fargo said it has not asked for permission to pay back $25 billion in TARP money.

Banking analyst Bert Ely said it could be years before those banks disentangle themselves from the government.

More than 600 banks have received a total of almost $200 billion from the TARP, and 22 smaller banks have already paid the money back. The $1.8 billion in dividend money includes stock the government owned in these smaller banks.

Besides the preferred-stock dividends, the banks that took bailout money issued warrants that give the government the right to buy bank stock at a fixed price later. Bank stocks have been battered but are expected to rise as the economy recovers, so the warrants could deliver substantial profits to taxpayers.

Or the government could sell the warrants back to the banks “at fair market value,” the Treasury Department said — presumably also locking in profits for the taxpayers.

Testifying before a Senate panel, Treasury Secretary Timothy Geithner said the value of the warrants for banks permitted to repay TARP funds are in the “several billion dollar range.”

But it sounds like Secretary Geithner’s understanding might not always be right on…~ Geithner said, after his visit to China that “the Chinese have justifiable confidence in our economy”. Yet other reports, including from Illinois Congressman Kirk, say that China is very uneasy and concerned about the U.S. economy. A telling moment was when a round of laughter broke out as Tim Geithner was speaking in China and said “your investments are secure”; the rudeness of laughing at someone virtually never happens in China. M~

By: Stevenson Jacobs and Daniel Wagner - Associated Press
06/09/09 7:44 PM EDT

This week we will be selling treasury bonds (T-bills). The question is who will buy them… Who wants to luck up their money our future for 30-years? Who buys those bills could make a huge difference in all our lives!

Posted: Daily Thought Pad

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Chrysler's 'hit list' targets GOP donors

OBAMANOMICS
Chrysler's 'hit list' targets GOP donors:  Dealers who give to Republicans much more likely to be shuttered

Does this both scare and make anyone else’s skin crawl??

As part of its Chapter 11 bankruptcy, Chrysler is terminating one-fourth of its franchises – but some say its catalog of doomed dealerships looks more like a hit list that specifically seeks to put Republican donors out of business.

Chrysler will now be eligible for up to $8 billion in taxpayer-funded federal aid. The federal government has already provided $8.58 billion to Chrysler and Chrysler Holding between the months of January and May of this year. The Treasury also loaned $1.5 billion to the automaker's lending arm in January.

President Obama has said the bankruptcy will give the company "a new lease on life," after his administration spearheaded a plan requiring the company sell to Italian automaker Fiat. Chrysler's stronger operations will be owned by Fiat, labor and the U.S. and Canadian governments. The sale could close as early as this Friday.

Obama said the bankruptcy would be a "quick" and "efficient" step toward Chrysler's "survival."

"The necessary steps have been taken to give one of America's most storied automakers, Chrysler, a new lease on life," Obama said. "This is not a sign of weakness."

But WND reviewed the list of 789 closing franchises and databases of political donors and found that of dealership majority owners making contributions in the November 2008 election, less than 10 percent gifted to Democrats while 90 percent gave substantial sums to Republican candidates.

The listed franchise owners contributed at least $450,000 to Republican presidential candidates and the GOP, while only $7,970 was donated to Sen. Hillary Clinton's campaign and $2,200 was given to Sen. John Edwards' campaign.

Obama received a combined total of only $450 in donations – $250 from dealer Jane Baldock in Wenatchee, Wash., and $200 from Waco, Texas, dealer Jeffrey Hunter.

Why does Obama think he's "the One"? Find out by reading the special Whistleblower issue: "Narcissist in chief"!

Many of the majority owners who donated to Republican campaigns last year also contributed additional thousands to George W. Bush's presidential campaign in 2004 and to help elect GOP representatives.

Find out which GOP donors are getting Chrysler's ax. A list is available here.

Rep. Vernon Buchanan, R-Fla.

The first dealership on Chrysler's list of facilities marked for termination by June 9 is located in Venice, Fla., and belongs to Republican Rep. Vernon G. Buchanan.

Buchanan gave $2,300 to John McCain in 2008 and has contributed nearly $150,000 to GOP candidates and organizations since 2007. He discovered that his location was scheduled for closure when he crossed paths with Rep. Candice Miller, R-Mich.

According to the Associated Press, Miller told Buchanan, "I heard you're going to lose your Dodge franchise."

"Oh, really?" Buchanan said in a state of surprise.

The dealership's operating partner, Shelby Curtsinger, said he was astonished by Chrysler's decision because the location has been profitable – selling more than twice the stock of an average Chrysler dealership every year.

Houston dealer Robert Archer is one of 330 people contesting Chrysler's decision to close their locations. He donated $1,000 to National Republican Congressional Committee and $500 to Americans for a Republican Majority.

Archer told the New York Times he ordered 700 new vehicles and $1.7 million in new parts after Chrysler told him he could survive unless he stocked more cars. He sacrificed his profits to help the company survive.

Now he is set to lose his franchise.

Other GOP contributors include Michael Maroone, a dealer in Ft. Lauderdale, Fla. He gave $20,000 to the Florida Republican Party, $12,700 to the Republican National Committee and $2,300 to presidential candidate Mitt Romney. Likewise, Menomonee Falls, Wis., dealer Russ Darrow and his family gave $19,000 to the Republican National Committee, $6,029 to the Wisconsin Republican Party, $2,300 to John McCain and $1,000 to Rudy Giuliani. Bedford, Texas, dealer Eric Grubbs gifted $11,500 to Mike Huckabee, $4,600 to Rudy Giuliani, $6,500 to Texas Republican Congressional Committee, $1,085 to the RNC and $500 to National Republican Congressional Committee. Midlothian, Va., dealer Max Pearson donated $18,000 to National Republican Senatorial Committee, $6,900 to the RNC, $6,900 to John McCain, $3,600 to Virginia Republican Party and $1,000 to National Republican Congressional Committee.

The list continues with more than 60 political donors who are scheduled to lose their franchises – many of whom gave thousands of dollars to Republican candidates – and only seven dealers who contributed a total of less than $12,000 to the Democratic Party and its candidates.

Blogger Doug Ross reviewed patterns on the closure list and noticed the unmistakable trend.

"I took all dealer owners whose names appeared more than once on the list," he wrote. "And, of those who contributed to political campaigns, every single one had donated almost exclusively to GOP candidates."

With 2,392 Chrysler dealerships remaining, some bloggers claim to have already begun the exhaustive process of checking each majority owner to determine whether Chrysler has been more merciful toward those who donate to Democrats while simultaneously giving walking papers to Republican contributors.

Chrysler has not responded to WND's requests for comment. The company claims it evaluated the dealerships based on raw sales volume, location, market, history of experience and market share. According to the company's bankruptcy court filing, the 789 dealerships listed for closure "lack the operational, market, facility and linemaker characteristics necessary to best contribute to the ongoing dealer network under current or future ownership."

Dealer Jim Anderer told Fox News' Neil Cavuto he doesn't understand why Chrysler is shutting down his Long Island dealership because he claims his dealership is quite profitable – with sales volume ranking in the top 2 percent.

Asked why he believes the company targeted him, Anderer said, "They won't tell us. They seem to be running for cover right now because they won't give us a solid explanation. They come up with all these reasons, but none of them seem to make sense."

He continued, "This is insanity. The government is stealing my business. And they're telling me there's nothing I can do about it."

Anderer said Chrysler claims it wants to combine its stores or that dealers cost the manufacturer money to stay in business.

"In the dealers that they cut, there seems to be no cohesive way that they did it," he said. "There was no process that you could put your finger on and say, 'Hey, we cut 25 percent of the lowest performing dealers.' They didn't do that. Nobody will give us a real clear explanation of the formula that they came up with."

An anonymous employee affected by the dealership closings blogged at Cars.com:

Obama visits Chrysler plant in Michigan one year before bankruptcy (photo: Barack Obama campaign)

"This isn't about business. It's about politics and control. My dealership is in the top 125 out of the 3,500-plus dealerships nationwide ... yet we are on the list. We are not small nor are we rural. We are in a large major metropolitan area. Our new vehicle inventory alone is well over $4.0 million. Is that small?"

The employee continued, "This is so much more than 'just business.' This is about control and power by our present administration in Washington. An administration that will stop at nothing to bring complete socialism to this once great country. Wake up people or get in line now to 'drink the Kool-Aid.'"

Chrysler's bankruptcy court review process began May 14 and is scheduled to end by June 9. According to a May 14 Chrysler memo, dealers learned of their fate via UPS letters arriving earlier this month. A Senate committee is conducting hearings this week as dealers file their requests to block their termination.

George C. Joseph, owner of Sunshine Dodge-Isuzu in Melbourne Fla., has sent out his plea to several online media organizations, including WND.

Joseph said his family paid for his franchise 35 years ago and employs more than 50 people. The company is active in the community and the local chamber of commerce, and he claims it is financially profitable.

"On Thursday, May 14, 2009 I was notified that my Dodge franchise, that we purchased, will be taken away from my family on June 9, 2009 without compensation and given to another dealer at no cost to them," Joseph wrote. "My new vehicle inventory consists of 125 vehicles with a financed balance of 3 million dollars. This inventory becomes impossible to sell with no factory incentives beyond June 9, 2009."

He said that without the franchise his family can no longer sell Dodge inventory as "new" or conduct any service warranty work. Joseph wrote that his parts inventory – worth $300,000 – is now practically worthless because Chrysler will not be required to buy vehicles, tools or parts from terminated dealers under bankruptcy rules.

To make matters worse, Joseph said Chrysler recently required his facility to be renovated, requiring a multi-million dollar debt in the form of a mortgage.

"This is a private business, not a government entity," he wrote. "This is beyond imagination! My business is being stolen from me through no fault of our own. We did nothing wrong."

Joseph continued, "This atrocity will most likely force my family into bankruptcy. This will cause our 50+ employees to be unemployed. How will they provide for their families? … How in the United States of America can this happen?"

By Chelsea Schilling
© 2009 WorldNetDaily

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