Posts about Barney Frank as of October 28, 2009

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Turning the corner? No more bailouts? You didn’t actually believe the ‘wizards in Washington did you? Why? GMAC is back in line for another injection of YOUR money. Recall that GMAC was bailed out initially during the government takeover of GM. GMAC was then spun off in order for Uncle Sam to effectively provide taxpayer funded consumer auto loans and mortgages. GMAC is not a public entity and thus not currently able to hoodwink investors and raise equity capital.

By Robert S. Becker Featured WriterDandelion Saladwww.beyondchron.orgrbecker@cal.net Oct. 27, 2009It’s hard not to like Michael Moore, our nation’s inspired, activist jester. What other unshaven, baseball-hatted, whistle-blowing filmmaker-entertainer elevates liberal consciousness while performing as media darling? What other bear-like, working class mensch amasses great wealth (but not arrogance) by mocking predatory industry and slavish governments?

Because according to Obama, if banks and financial companies think they’ll be bailed out it will encourage risky behavior.  So obviously that means we need to give the government the power to “dismantle” them.  So they don’t become too successful. WASHINGTON – President Barack Obama on Tuesday embraced a House bill that would give the government unprecedented power to seize bank holding companies and other large financial firms teetering on the brink of collapse and stick their competitors with the cost.

The Obama administration and the head of an important House committee unveiled legislation on Tuesday to give the government broad new powers to shift the cost of rescues of big, troubled financial institutions from taxpayers to other large companies, The New York Times’s Stephen Labaton reports from Washington.The legislation, drafted jointly by Treasury officials and Representative Barney Frank, the head of the House Financial Services Committee, would create a special fund, paid by assessments on financial companies with more than $10 billion in assets, to bear the costs of big firms that fail.

Dandelion SaladBy Mike Whitney October 27, 2009 “Information Clearing House“October 29, marks the 80th anniversary of the Stock Market Crash of 1929, the event which most historians point to as the beginning of the Great Depression. On Black Tuesday, traders dumped 16 million shares in one day sending the markets into freefall. In the months that followed, stocks rallied–sometimes for long periods at a time–but the underlying economy continued to deteriorate as consumers curtailed spending and cut back sharply on credit.

Here are some key parts of the draft legislation hashed out between House Financial Services Committee Chairman Barney Frank (D., Mass.) and the Treasury Department.

more images more images Obama hails financial regulation bill in House WASHINGTON ? President Barack Obama is cheering an effort to rein in large financial firms. He says proposed legislation in the House would let government take down failing institutions and make taxpayers whole. In a letter to House Financial Services Committee Chairman Barney Frank, Obama said the belief [...]

I suspect that’s what a lot of Democrats told Barney Frank after this: You’re not supposed to say things like “we are trying on every front to increase the role of government in the area of regulation” out loud, Barney.  It annoys the normal people who are full well aware of what government regulation does when it’s [...]

  Great pay!- Work for the government! – Rethinking Salary Constructs, Federal Pay Continues To Skyrocket – The Daily Bail ———— the real bailout – How to manage the gigantic financial cuckoo in our nest – By Martin Wolf – … This recovery has been no accident. When central bank money is almost free, prices of risky assets are recovering and competitors have disappeared or are weakened, making money is a relatively simple matter for the strong survivors.

This post was written by News Guy on October 27, 2009 Posted Under: News, World News

BARNEY FRANK TELLS THE TRUTH: “We Are Trying On Every Front To Increase The Role Of Government.” Just in case there was any doubt.UPDATE: Hiawatha Bray emails with context: “Somebody left off the end of Frank’s remark, and so they left out words that seem to change his meaning considerably. He said, ‘We are trying on every front to increase the role of government in the regulatory area.’ You see the difference?”

You’ve heard of FreedomWorks.org , right? The ‘grassroots’ site signing up Americans in droves to protest against government at every turn. I was poking around on their website, and it was what’s in the footer that got my attention: It’s a little hard to see, but it says: Never believe it when someone says, “I’m from the government and I’m here to help.” – Dick Armey Now, this is just my opinion, but isn’t that just a little incongruous coming from a former member of Congress.

Barney Frank says that the Dems are having a hard time “increasing the role of government in the regulatory area” because “the Right Wing took control of government and ruined it — gave it a bad reputation.” Oh for the days when government had a good reputation! And lawyers too! Oh how people used to love politicians and lawyers!  And dentists. Those were the days! Stupid George Bush.  Ruining everyone’s reputations.

This is a quiz . What do the record-high Wall Street bonuses have in common with the record-low yields for savers? Answer: They show yet another way that prudent people, especially those living on fixed incomes, are being screwed by the government’s bailout of the imprudent. Here’s the deal. The government is spending trillions to keep interest rates down in order to support the economy and prop up housing prices, and those low rates have inflicted collateral damage on savers’ incomes.

Give Ed Schultz credit for something: on his MSNBC show this evening, he hosted an amusing smackdown between Barney Frank and Ralph Nader, perhaps the two most morose public men in America. For once, Barney was attacked from the left. The gist of Ralph’s rebuke was that Frank hasn’t gone far enough in regulating the financial industry.

“We Are Trying On Every Front To Increase The Role Of Government”.

Congress and the Obama administration are about to take up one of the most fundamental issues stemming from the near collapse of the financial system last year — how to deal with institutions that are so big that the government has no choice but to rescue them when they get in trouble.A senior administration official said on Sunday that after extensive consultations with Treasury Department officials, Representative Barney Frank, the chairman of the House Financial Services Committee, would introduce legislation as early as this week.

PRAVDA: America Moving from Kingdom of Cash to Socialism Slowly but Surely DC sniper Muhammad set to die by lethal injection AARP’s conflict of interest in health reform Hoffman Pulls Ahead in NY23– Leads Scozzafava By 20 Points OH REALLY? Barney Frank: “We Are Trying On Every Front to Increase the Role of Government” (Video) Vanity Fair Columnist and MSNBC Guest: Fox News ‘Not Very Popular in this Country’ Rachel. Maddow’s. Worst. Week. Ever.

Rep. Barney Frank (D-MA) is expected to reveal legislation ( possibly today ) creating a “resolution authority,” which would enable the government to negotiate an orderly unwinding of large, complex financial firms like AIG, Citigroup, or Lehman Brothers. The banking industry has already begun to criticize the proposal and Republicans have taken to characterizing it as enshrining taxpayer-funded “bailouts.” Last night, Rep.

Infowars October 27, 2009

Infowars | Barney Frank goes head to head with Ralph Nader, and lets it slip.

Tuesday, October 27, 2009: Posted at 10:10 A.M. PST: NBC Chicago: Chicago to Give Bounties to Turn in Tax-Cheating Neighbors Hot Air: Don’t Eat Meat to Prevent Global Warming Washington Post: U.S. Official Resigns Over Afghan War; No Longer Knows Why His Nation is Fighting Gateway Pundit: Barney Frank – “We Are Trying On Every Front to Increase the Role of Government” (Video) Newsbusters: Fox News Channel’s Ratings Soar After White House Attack Overlawyered:

Global Warming … a Hoax? or Conspiracy? You be the judge … Redistributionist Revolution vs. Sovereignty President Obama is on a path toward establishing a one-world government. This is the warning of Christopher Monckton, a former major policy adviser to British Prime Minister Margaret Thatcher. Global-warming alarmists are using the myth of climate change to impose an embryonic socialist world government. Following the collapse of communism, the West’s progressive elites desperately searched for a viable ideological alternative.

Barney Rubble: We are trying on every front to increase the role of government (video).Tags: barney frank, Congress, government waste, housing, hypocrisy, video This entry was posted on Tuesday, October 27th, 2009 at 12:35 pm and is filed under Broken News. You can follow any responses to this entry through the RSS 2.0 feed.

A former Marine Corps captain, Iraq veteran and the senior U.S. civilian in Zabul province in Afghanistan has just resigned . “I have lost understanding of and confidence in the strategic purposes of the United States’ presence in Afghanistan,” he wrote Sept. 10 in a four-page letter to the department’s head of personnel. “I have doubts and reservations about our current strategy and planned future strategy, but my resignation is based not upon how we are pursuing this war, but why and to what end.” I understand that there are arguments that cut both ways, and that Afghan women will be on their own if we pull out, but damnit, it’s time to go.

REALLY?  Really? REALLY? I would never have thought this was the case!  A Democrat is trying to INCREASE the size of government?  WOW! [...] Give Ed Schultz credit for something: on his MSNBC show this evening, he hosted an amusing smackdown between Barney Frank and Ralph Nader, perhaps the two most morose public men in America.  For once, Barney was attacked from the left.  The gist of Ralph’s rebuke was that Frank hasn’t gone far enough in regulating the financial industry.

A White House official has said that Barney Frank, chairman of the House Financial Services Committee, will introduce legislation as early as this week designed to tackle what the New York Times refers to as “one of the most fundamental issues stemming from the near collapse of the financial system last year:” institutions deemed “too big to fail.” The legislation would be an alteration to an existing White House strategy on how to deal with some of the nation’s largest financial firms: The

The U.S. can’t seem to shake its love of big things: Big SUVs, big houses and, yes, big banks.

Visit msnbc.com for Breaking News, World News, and News about the Economy

http://www.realclearpolitics.com/vid…overnment.html Amazing that Barney Frank is an elected official. Who up there in the NE corridor votes for this guy? Glad to see he is outing himself for the statist he is though. Of course Congress is trying to increase the role of government, that is all they try and do now. Oh, and the headline is not misleading liberals. It is dead accurate. Regulation is how they expand their roles into our lives and into our economy and destroy us both.

It doesn’t get any more clear than, “ we are trying on every front to increase the role of government .” No related posts.

It’s supposed to be a big deal that Democratic Congressman Barney Frank said, “We are trying on every front to increase the role of government” . But is ANYBODY really surprised that that’s what the Democrats are trying to do? Or are we just surprised when a politician actually tells the truth?

A new bill in Congress to increase financial regulation would allow the federal government to seize institutions deemed “too big to fail” if Treasury saw a large enough risk of collapse.  McClatchy reports that some on Capitol Hill have begun to refer to it as a “death panel” for banks, apparently more as a joke than a concern.  Have any of them actually read the Constitution, especially the Fifth Amendment?Rep. Barney Frank, D-Mass., the chairman of the House Financial Services Committee, worked over the weekend and throughout Monday to draft the legislation.

how could anyone have faith in voting for this big goofball?

Barney Frank: ‘We Are Trying On Every Front To Increase The Role Of Government’…

Good for Barney Frank! It’s simply amazing what American banks have gotten away with for years at the expense of consumers. For example, check out this video report from the NYT/Frontline about the “card game” played by many banks (and credit unions) to profit handsomely from debit purchases that inadvertently go into overdraft.

The Right-wing took control of government and ruined it, and gave it  a bad reputation… We are trying on very front to increase the role of government . So speaks Barney Frank, the man who selected TARP recipients on the basis of their skin color (let me denounce myself as racist) and who hired a male prostitute/pimp – with whom he’d had sexual relations, of course – as his Congressional aide (let me denounce myself as homophobic).

Here is a good article from DrudgeFeed.com – Drudge Report RSS feed: No summary More here: Barney Frank: ‘We Are Trying On Every Front To Increase The Role Of Government’…

The following is a summary of the main economic events from the Asia-Pacific and European sessions: AP: U.S. Treasury and Rep. Barney Frank have agreed not to make financials pay upfront for their dismantlement if regulators decide they’ve become ‘too-big-to-fail’, according to an AP source familiar with the matter; the firms would instead be permitted to borrow from Uncle Sam; the source says the proposal will be announced on Tuesday EDT. RTRS interview: PBOC Vice-Governor Yi Gang says China

Good Morning Campers and Dimwit Trolls who Think Stephanie Miller is Funny Ha-Ha Not Funny-Peculiar Item Number One: In a “debate” between Ralph Nader and Barney Frank on the Ed Schultz Show (imagine that concentration of egomania and moonbattery), Barney Frank admits, Democrats are “trying on every front to increase the role of government.” This is a big ‘Duh!’ to anyone whose been paying attention, but a useful quote to anyone who still claims the Pelosi Congress is in any way centrist.

I am waiting and watching for what Barney and Timmie have up their  sleeves now, but we have a hint of what is coming Thursday, and I am sure the banks are REALLY not going to like this.  I know that, as a little person, giving this government any more power is more than a bit psychotic. US Treasury backs plan for banks to make ‘living wills’ in case of collapse In a move mirroring regulations being discussed in the UK, the Obama administration will this week back plans by the House of Representative’s Financial Services committee to introduce a bill to ensure that major banks and non-bank institutions cannot become “too big to fail”.

Rep Barney Frank’s controversial statements about the National Equality March created quite the stir. So much so, that when the Congressman sat down to answer the top 10 questions asked on social media giant Reddit.com, this question asked him if he was sorry for his “putting pressure on the grass” comments. He’s not.

Please remember that the IICA goes to people who exhibit “sheer ’slap Americans in the face’ stupidity” instead of unbelievable escapades like The Fed losing $9 Trillion dollars. Today’s IICA goes to Nancy Pelosi for comments made at a Florida senior center while she was trying to rename the “public option” to “competitive option”; probably on the advice of some focus group that really did not understand how dense this lobotomized walking meat suit actually is.

Money management is a personal decision based on what you want. Too often I talk with investors who want to blame others for their lack of success. Even if you give you money to an adviser or third party of some kind, you are the one in control. If not, shame on you. I have been helping, teaching and advising people about money for the more than 25 years and I am still amazed at how little people want to be involved with managing or directing their money.

BlindReason submits: Lots of trepidation about what Barney Frank and the White House will do to constrain the new mega banks. I find the idea of using tax payer guarantees to fund risk-taking relatively bad long term policy. Going back to Glass Steagall in some form continues to make a ton of sense to me.

A year ago, governments around the world scrambled to pull their biggest banks from the brink of collapse. Now, policy makers are wrestling with just how much to rein in the financial behemoths that contributed to the crisis, The New York Times’s Eric Dash and David Jolly write.How large and interconnected banks should be, and whether they should ever be bailed out again by taxpayers, boils down to whether financial institutions should be allowed to become too big to fail.

10.26.09: I am bumping up this post as I wrote so many yesterday that many have missed this very IMPORTANT INFORMATION! Mahalo, DT ******** (H/T Mike) Any doubt who the traitors to the Republic actually are? From Spencer Bachus (R-AL) Democrats Vote To Give ACORN Regulatory Authority Over Financial Institutions WASHINGTON – During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Democrats on the House Financial Services Committee voted to pass an amendment offered by Rep.