Posts about Barney Frank as of October 29, 2009

One of the cornerstone thesis of economics has been the theory that human beings are, by nature, rational people. This theory has been under attack by many modern economists, who in addition to looking at the wild risk taking (albeit government demanded and subsidized – ladies and gentlemen, let’s put a hand together for Chris Dodd, Barney Frank and the current Congressional leadership!) and the gullibility of those who fell for the easy and consistent returns of con men like Bernie Madoff have new studies that show people to be less than rational in their economic decisions.

Joshua Rosner examines the House regulatory reform bill, which does not, in its current form, acknowledge that “Too Big to Fail” is too big to exist. The House draft bill written by Rep. Barney Frank (D – MA) – along with several former Fed attorneys and Treasury staff and consultants — ignores fundamental reality: You don’t employ a bomb squad to sit around and wait for a bomb to explode, you engage them to dismantle it as soon as they find one.

Remarks by the President at Reception Commemorating the Enactment of the Matthew Shepard and James Byrd, Jr. Hate Crimes Prevention Act East Room 5:45 P.M. EDT THE PRESIDENT: Thank you so much, everybody. Thank you so much, and welcome to the White House. There are several people here that I want to just make mention of because they helped to make today possible. We’ve got Attorney General Eric Holder. (Applause.) A champion of this legislation, and a great Speaker of the House, Nancy Pelosi.

Remarks by the President at Congressional Gold Medal Ceremony in Honor of Former Senator Edward William Brooke THE PRESIDENT: It is an extraordinary privilege to be here today. And let me begin by acknowledging this distinguished group gathered on the platform: our extraordinary Speaker of the House, Nancy Pelosi; Majority Leader Harry Reid; Republican leader Mitch McConnell; majority leader Steny Hoyer; Republican leader John Boehner; Senator John Kerry; Representative Eleanor Holmes Norton; Representative Patrick Kennedy; my dear friend, Vicki Kennedy; to our honoree, Senator Edward Brooke, his wife, Anne, and family.

Hats off to Verum Serum for this video montage of “The Single Payer Bunch.” Hellooooo? McFly?!? Do you still believe these people aren’t aiming for a single payer, government run system? I can’t put it better than Morgen at VS: Watching these clips, and reflecting back on the past 6 months, I still find it hard to believe that this transparent deception hasn’t even warranted a mention outside of conservative media.

House Financial Services Committee Chairman Barney Frank, D-Mass., Tuesday introduced legislation designed to address the problem of financial institutions considered “too big to fail” without causing severe damage to the financial system. (15 secs ago) Related PostsU.s. Consumer Financial Protection Flawed, Says Treasury OfficialBernanke Urges Strong Measures? to Stabilize Financial SystemLoans cheap but tough to get

Here’s what you missed, if you didn’t catch it on the White House livestream… THE WHITE HOUSE
Office of the Press Secretary
__ _________________________________
For Immediate Release                                                        October 28, 2009
REMARKS BY THE PRESIDENT
AT RECEPTION COMMEMORATING THE ENACTMENT OF THE MATTHEW SHEPARD AND JAMES BYRD, JR. HATE CRIMES PREVENTION ACT
East Room
5:45 P.M. EDT
    THE PRESIDENT:  Thank you so much, everybody.

5:45 P.M. EDT THE PRESIDENT:  Thank you so much, everybody.  Thank you so much, and welcome to the White House.  There are several people here that I want to just make mention of because they helped to make today possible.  We’ve got Attorney General Eric Holder.  (Applause.)  A champion of this legislation, and a great Speaker of the House, Nancy Pelosi.  (Applause.)  My dear friend, senior Senator from the great state of Illinois, Dick Durbin.  (Applause.)  The outstanding Chairman of Armed

Domestic: The stimulus which would stop unemployment before it exceeded the 8% range The health care plan which is our moral duty The health care plan which is written by FIVE SEPARATE ENTITIES so that all claims can be made and denied, and in which no one is responsible or accountable The cap and trade bill to destroy indigenous energy supplies The commitment to eliminate global warming The takeover of private businesses because we need more govt The control over pay The czars who have no responsibility but to Obama, and have been told by him they will never be permitted to testify before congress The petrified moderate democrats ..

Valerie Jarrett: http://tinyurl.com/yf38gqv Grayson: http://tinyurl.com/yhthjf2 No Votes: http://tinyurl.com/yln4nza Hoffman & News: http://tinyurl.com/ylcpmyz Malkin & NOW: http://tinyurl.com/ygzkx67 Obama Ceasar: http://tinyurl.com/yjv29u8 CNN Jeopardy: http://tinyurl.com/yf9sppt Barney Frank: http://tinyurl.com/yjsj6n4 Couric: http://tinyurl.com/ykz4pjd $1.4 Million: http://tinyurl.com/yly66ot Libertarians: http://tinyurl.com/ykd6cgx

LARRY KUDLOW responds to Barney Frank.

In the era of massive bank bailouts, Democratic Rep. Barney Frank of Massachusetts and the Obama administration are trying to tackle the problem of what to do about financial firms that become “too big to fail.” The chairman of the House Financial Services Committee introduced a new bill Tuesday aimed at strengthening the government’s ability to [...]

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Welcome to the most intense nightly read on the sphere… the BitsBlog Nightly Ramble LIBERMAN PLAYS THE GAME: H e now says he’ll vote against the so-called “Public Option” … (What is Queen Nancy calling it now, the “Consumer Option”?)  _ . Well, of course the libtards are screaming bloody murder.  There seems a great deal of sentiment coming from the far left along the lines of Harry Reid taking a pound of flesh from Joe Lieberman for actually thinking for himself.

By Don Miller Associate Editor Money Morning The House Financial Services Committee and the U.S. Treasury Department have released a draft version of legislation designed to address systemic risk and the issue of “too big to fail” institutions. The proposed bill, spearheaded by U.S. Rep. Barney Frank, D-MA, the House’s Financial Services Committee chairman, aims prevent big bailouts after the government last year spent over $200 billion to rescue American International Group Inc.

The new legislation unveiled by Representative Barney Frank doesn’t end “too big to fail” — it codifies it. It also puts taxpayers on the hook for a large portion of future bailouts. Frank should go back to the drawing board. Per the recommendation of Bank of England Governor Mervyn King, he should split banks in half, sending trading operations off into the wilderness so banks can get back to basics. The need for resolution authority stems from regulators’ arguments that they didn’t have the tools to shutter big firms last year.

The new legislation unveiled by Representative Barney Frank doesn’t end “too big to fail” — it codifies it. It also puts taxpayers on the hook for a large portion of future bailouts. Frank should go back to the drawing board. Per the recommendation of Bank of England Governor Mervyn King, he should split banks in half, sending trading operations off into the wilderness so banks can get back to basics. The need for resolution authority stems from regulators’ arguments that they didn’t have the tools to shutter big firms last year.

The Advocate has a livestream. Gab about it in the Blend chat room .
UPDATE : Excerpt of the remarks by the President about the hate crimes provision: THE WHITE HOUSE
Office of the Press Secretary
__ _______________________________________
For Immediate Release                      October 28, 2009
REMARKS BY THE PRESIDENT
AT THE SIGNING OF THE NATIONAL DEFENSE AUTHORIZATION ACT
FOR FISCAL YEAR 2010
East Room
2:42 P.M.

The American Justice Foundation published This article was written in 2005 by an attorney affiliated with the law firm of Kirkland & Ellis (that has ties to Mr. Obama) promoting the idea of doing away with the “natural born citizen” requirement for serving as president. Chicago-Kent Law Review 2006 81 Chi.-Kent L. Rev. 275 STUDENT NOTE: AMENDING THE NATURAL BORN CITIZEN REQUIREMENT: GLOBALIZATION AS THE IMPETUS AND THE OBSTACLE NAME: Sarah P. Herlihy* BIO: * J.D.

Finish this sentence by Rep. Barney Frank. We are trying on every front to….increase the role of government in regulation. He and his cohorts are not trying to maximize freedom, prosperity, or individualism. He is trying to increase the role of government regulators on every front. You moderates were suckered when you voted Democrat. You voted for change and you got big brother. Please don’t do it again. Here is the video. We can not afford much more change like this.

Normally we ignore the obvious, figuring you can, and will come to your own conclusions because you’re seeing the Heil David! same thing we are. It’s only when we think we have an insight or two you may find interesting, something you probably had flitting around in the back of your own mind, but didn’t quite get to during your hectic day. That’s kind of where we think The Conservative Gentleman fits into your life. Today is a little different, and we ask your indulgence.

He gave a 15 minute statement on the reasons to reject the public option. It’s one of the best summaries of the reasons Americans should avoid this plan I’ve heard. For those who don’t have 15 minutes to spare, I’ve edited it down to 2-minutes including his quotation of Jacob Hacker from the Public Plan Deception video: Click here to view the embedded video. I’m starting to feel a tinge of hope. First it was Senator Grassley . Then yesterday we had that tremendous op-ed by Robert J.

October 28, 09 Posted by MP under Headlines. Tags:bias, cnbc, larry kudlow, msnbc Kudlow & Company October 27.Newsbusters: Kudlow Rips MSNBC for Lack of Balance; Calls for Supply-Side Solutions for EconomyKudlow, referring to the Oct. 26 broadcast of MSNBC’s “The Ed Show,” which featured Rep. Barney Frank, perennial presidential candidate Ralph Nader and the host Ed Schultz, noted all the participants were left-of-center.

Politico has an analysis of the latest developments with the health care deliberations in the Senate. (Hat tip: Instapundit.) The article begins:Senate Majority Leader Harry Reid’s appeals for party unity landed with a thud Tuesday with the very group he needs for his public-option push to pay off: centrists who hold the key to health reform. And not just any centrists but one who makes liberals see red: Sen. Joe Lieberman (I-Conn.), who said Tuesday that he’d back a GOP attempt to block the bill from moving to final passage.

It is amazing what you will see when you tune into some radio and television talk shows.  This is rich :  Perennial complainer Ralph Nader hounding Rep. Barney Frank (D-Mass.) about his failure to regulate the derivatives market.  Nader is correct about Frank’s failure, he has just identified the wrong failure (you can forgive him; there are so many to choose from).  No, the really big gaffe was that Barney had a big hand in the Fannie Mae, Freddie Mac debacle, which was arguably the real jumping

A special fund, paid by assessments on financial companies The new legislation was drafted jointly by Treasury officials and Representative Barney Frank, the head of the House Financial Services Committee.CLICK HERE to read the entire article.

By Laura Conaway Good morning. Here’s what we’re reading on a rainy Wednesday in New York: Orders for durable goods ticked up by 1 percent in September, the Commerce Department reports. The fourth increase in six months is a sign that consumers may be ready to at least consider buying big items like washing machines again. Government bailouts of banks would be paid for by surviving rivals — and the management of failing banks would get the boot — under a plan pushed by the Obama administration and Rep.

By Laura Conaway Good morning. Here’s what we’re reading on a rainy Wednesday in New York: Orders for durable goods ticked up by 1 percent in September, the Commerce Department reports. The fourth increase in six months is a sign that consumers may be ready to at least consider buying big items like washing machines again. Government bailouts of banks would be paid for by surviving rivals — and the management of failing banks would get the boot — under a plan pushed by the Obama administration and Rep.

He finally admits it: he wants bigger government. You gotta wonder, though. If offered bigger dicks, would he settle for that, instead?  

I don’t really want to rain on anyone’s parade here – especially because this parade helps pay my salary – but while it’s nice to see that local home sales have rebounded so well , here, as elsewhere, it’s due almost entirely to the $8,000 federal tax credit. Which means that if we want home sales to continue increasing, that tax credit needs to be extended, and even expanded. Which will mean that the government is making a concerted effort not merely to prop up housing – but reinflate the bubble.

Barney Frank admits the truth for once: Similar Posts: Barney Frank Was For The Housing Bubble Before He Was Against It Barney Frank On The Federal Reserve Transparency Act One Step Closer To Directive 10-289 The LaRouche Cult And The Health Care Debate Another Obama/Geithner Power Grab

From a major NY Trading Desk 10/27: Central banker judgment is the ultimate regulatory loophole Only time will tell how effective the new rules and regulations currently being implemented by policymakers in the Western world will be. I’ll throw my two cents in and say that simply letting bad businesses fail would greatly curtail the quantity of new legislation needed to create a more just, less fragile financial system.

October 28th 2009Market Commentary The futures are currently pointing downwards after 3 consecutive days of weakness. Economic data was mixed yesterday as housing was better than expected, while consumer confidence was worse. Durable goods at 8:30am were in line with expectations rising 1%.So far 185 of 219 S & P companies have reported better than expected earnings, yet many people are concerned that this is due to significant cost cutting and not due to increased sales.The SPY closed below the 20 EMA on the Daily yesterday and looks like it may be headed back to test the 50 EMA at $105.10.

Washington’s Blog Wednesday, Oct 28th, 2009The former chairman of Citigroup, John S. Reed, wrote a letter to the editor of the New York Times calling for a reinstatement of Glass-Steagall:As another older banker and one who has experienced both the pre- and post-Glass-Steagall world, I would agree with Paul A.

Thanks, Barney.   Just what Americans need… See the Video

Barney Frank… the man who brought you the housing crisis… trying to increase “the role of government” on every front.

…. “We are trying on every front to increase the role of government.”….   By Ben Shapiro, CNSNews,  October 28, 2009   On Tuesday, Oct. 26, 2009, Congressman Barney Frank (D-Mass.) appeared opposite Ralph Nader on “The Ed Schultz Show.” When Nader questioned Frank’s far-left bona fides, Frank quickly responded, “We are trying on every front to increase the role of government.”   This is what today’s liberal movement has become.

Barney Frank says the Republican Party took control of the government and ruined it, so the Democrats are stuck with fighting an uphill battle: “Now that we are trying on every front to increase the government” (at 0:55)

I am posting the Press Release and committee meeting information for the 253 page discussion draft of the Financial Stability Improvement bill to regulate the financial industry that we have been waiting for.  I am also currently reading the actual draft, found here , and will post on it when I have something to report. Upcoming HFS Committee meeting on the following draft legislation: Thursday, October 29, 2009, 9:30 a.m., in room 2128 Rayburn House Office Building.