Posts about Barney Frank as of October 22, 2009

Dandelion SaladBy Mike WhitneyInformation Clearing House October 21, 2009The dollar is not going to crash. In fact, many economists believe that the dollar will rally when the Fed ends its quantitative easing program (QE) sometime in early 2010. The Fed is on track to buy nearly $2 trillion dollars of mortgage-backed securities, US Treasuries and agency debt. In other words, the Fed is printing money and pumping it into the housing market to keep the market from collapsing.

I just can’t make this stuff up, folks. Barney Frank has come up with yet another class of American victims: the ‘underbanked.’ CNS News reports: On Friday, Rep. Barney Frank, chairman of the House Financial Services Committee, will join FDIC Vice Chairman Marty Gruenberg and others in a discussion of “new, safe and affordable credit options for America’s underbanked.”   The policy discussion on Capitol Hill comes as banks – reacting to new credit card rules imposed by Democrats – start pulling the plastic from current credit-card holders, a move that is sure to lead to even more “underbanked” Americans.

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Reaching a compromise on an issue that threatened to derail financial regulatory legislation, the House Financial Services Committee voted on Wednesday to give the federal government the power to block the states from regulating large national banks in some circumstances, The New York Times’s Stephen Labaton and David Stout report from Washington.The Obama administration had opposed any efforts by the federal government to preempt state officials from imposing higher banking standards.

The mortgage meltdown was caused partly by the government, which created an artificial market for bad mortgages.  The Washington Examiner cites a recent study by Peter Wallison, who had prophetically warned about risky financial practices for years, finding that two-thirds of all bad mortgages were either “bought by government agencies or required to be bought by private companies under government pressure.” Now, the Federal Housing Administration is ramping up its purchases of low-quality mortgage loans , threatening taxpayers with hundreds of billions of dollars in losses, and creating the risk of another housing bubble in the future.

Earlier this year, Silicon Valley freaked out when U.S. Treasury Secretary Timothy Geithner told Congress that large venture capital firms should be declared as systemic risks and put under tight restrictions as part of the broader re-regulation of financial firms. Such regulations would force VCs to register with the Securities and Exchange Commission, and submit regular reports on their investors and portfolios, costing firms up to $1 million.

October 21, 2009 Updated birth certificate posts/videos/lawsuits I’m glad I found this in the drafts. It’s quite curious and of course involves barry and his natural born citizenship. I ran across it on Orly Taitz’s site a while and seems I lost the link. But if it made it to Taitz’s site – it most likely came [...]

1) “The UK’s spiralling debt will lead to tax rises, spending cuts and delayed retirement far beyond what is being discussed, a think tank has said.” Tell me something I don’t already know. 2) Another reason why the recovery is way off……way off! Housing-related job sectors taking the big long-term hit 3) The Story Of 21 Year Old With The Underwater FHA Loan Is Even Worse Than You Think “Denise got an FHA loan to buy her home for $155,000. She took out a second loan (called a 203-K loan) to refurbish the place.

( Halogen Life ) A proposal drafted by Frank specified that it would give states the right to adopt their own medical marijuana laws. “I’ve felt for a long time that policy regarding the prohibition of marijuana was wrong,” Congressman Frank told me. He cited the organization NORML as a viable source for education on marijuana and its health benefits and risks.

Examiner.com The whole world must be carbon free by 2050 – Is industrial hemp part of the … Examiner.com An industrial hemp bill has been introduced by Barney Frank and Ron Paul. Indications are that there is not enough public interest in industrial hemp to …

Aetna, a health insurance company, made a clerical error when calculating my doctor bills from four years ago when I had mono. The result? I got a check yesterday for $56.58. Aetna assured me that they made a simple mistake, and they totally weren’t trying to screw poor college students. This is what I love about insurance companies. Aetna spent years in court trying to defeat a lawsuit that clearly proved they had miscalculated on thousands of students heath insurance claims.

Monday Mark revealed Obama’s Marxist agenda by playing Obama’s own words. Tuesday, Mark continued this theme by playing a host of recordings of administration officials admitting the ultimate goal of any healthcare reform is a government run single payer system. Even if a public option is not explicitly instituted, the bill will create the circumstances that will run private insurance out of business and lead to a government option within a few years.

This is what I want to talk about. This is going to be long and a bit of a hissy fit, so if you aren’t in to that, you might want to see a picture of Barney Frank The Bassett Hound whose human is Mary Mancini . I am surprised at some of the rhetoric used by City Councilman Joe Brown in reference to me. Invoking the word “blogger” as if it were a slur or a swear is something that I have heard more than once, but never in a public meeting.

A few days ago we told the story of Denise Tejada, the 21 year old California woman who bought a house with an FHA backed loan with almost no money down. Readers were outraged. And rightfully so. It’s our money on the line and it is simply outrageous that our government is still encouraging these kind of loans to be made. Even if Tejada pays off her loan in full, it was an insane gamble on our behalf to have the government back her loan. But as it turns out, the gamble was even more insane that we originally reported.

Michelle Obama will beam into “The Jay Leno Show” this Friday via satellite from Washington for the “Ten @ Ten” segment, in which guests answer 10 questions from the host rapid fire style. The First Lady’s appearance will mark her second time on Jay’s hot seat. She made a visit to “The Tonight Show with Jay Leno” on Oct. 27, exactly one week before becoming First Lady-elect.    The big topic during that appearance was the price of her outfit amid controversy surrounding the $180,000 campaign wardrobe worn by GOP vice presidential candidate Sarah Palin.

America’s first lady will appear via satellite from Washington this Friday in a comedy sketch on NBC’s The Jay Leno Show, BBC News reports. Obama will answer ten quick questions from Leno on various subjects during the prime time segment. Her last appearance with Jay Leno was last year on his Tonight Show when he questioned the high cost of her clothing, which turned out to be a moderately priced outfit from J-crew.