Archive for the ‘Lil’ Timmy Geithner’ Category

I normally don’t post a link only, but this is too good to adulterate. The author gets it, and in saying so, speaks for me too.

Now shoo…go read it.

Read Full Post »

From Reuters:

 The Obama administration stepped up efforts on Thursday to push for measures to tie executive pay at all publicly traded companies more closely to performance, but faced some skepticism from lawmakers.

Allpublically traded companies…who needs the Constitution?  Comerade Obama will relieve businesses of the “burden” of bargaining with their executives to set pay.  Unbridle ambition interwined with unquenchable lust for power.  I wonder when the remaining Americans, you know, the ones with the courage to make their own lives, will decide that the usurper has reached too far?

On Wednesday, the Treasury Department said that seven companies receiving government bailout money will be subject to strict oversight on pay for their top executives and other highly paid employees. Treasury also said it wants new laws to empower the U.S. Securities and Exchange Commission to ensure that shareholders have more say in setting pay.

“While the financial sector has been at the center of this issue, we believe that compensation practices must be better aligned with long-term value and prudent risk management at all firms,” Treasury Counselor Gene Sperling told the House of Representatives Committee on Financial Services.

And that is the crowbar that they will use to pry their way into board rooms around the country, including those who turn down the government’s offer of ‘help’.

Both President Barack Obama and Treasury Secretary Timothy Geithner have said that Wall Street compensation practices encouraged excessive risk-taking, sowing the seeds of the financial crisis that has driven the United States and many other countries around the globe into recession.

Ignoring, of course, the effects of the CRA and the Dhimicrats steadfast refusal to look into the activities of Freddie and Fannie while their friends and cohorts were taking their case out in wheelbarrows and dump trucks.  Why is it Bwarney Franks and Chris “the freind of Angelo” haven’t been driven out of DC by angry mobs yet?

Lawmakers from both major parties expressed uneasiness at the prospect of what they considered growing interference by government in business affairs. They suggested that regulatory reform and a determination to let companies stand or fail on their own would be preferable to putting taxpayer money into struggling companies.

I wish I could believe this, but billions of dollars away from where we started, I’m not buying their sudden meeting with Jesus.

You can go read the rest.  I have a sudden urge to go re-read the Constitution yet again.  Try as I might, I haven’t been able to find the part that gives Congress the authority to interfere with the ability of individuals and entities to enter into a contract.

Read Full Post »

I pulled up the news this morning to see that some of the Chrysler creditors are not done yet.  Good on them.  In addition to the tales of thuggery by the Obama Officials in putting together the deal “Play ball with this, or we will wreck you.”, I was constantly left wondering “What about the fiduciary duties of the pension funds, hedge funds, etc.

Apparently,some are not really to give up yet.  Good on ’em.  The Indiana State Police Pension Fund, the Indiana Teacher’s Retirement Fund and the state’s Major Moves Construction Fund have all appealed to the United States Supreme Court.  The claim remains the same.  The deal unfairly favors unsecured creditors over secured creditors.  They are also challenging the U.S. Treasury’s use of TARP funds to finance Chrysler while it sprints through bankruptcy proceedings, claiming that Lil’ Timmy and his scofflaws did so without Congressional approval.  The money quote, from the AP:

The government-sponsored reorganization of the U.S. auto industry, including the Chrysler bankruptcy proceedings, “is a matter of incredibly high profile and importance,” the funds said in their request to the high court. “The public is watching and needs to see that, particularly when the system is under stress, the rule of law will be honored and an independent judiciary will properly scrutinize the actions of the massively powerful executive branch.”

Of course, if the If Lord Zero’s merry band of scurvy knaves gets away with this particular instance of Theft-By-Executive-Fiat (see what I did there?), we will have yet two more very serious problems to contend with.  The first being that institutional investors will be far more reluctant to invest in American businesses, further strangling the potential for recovery as pension funds and the like will seek other investments that will be less likely to be stolen by the government.  The second is that the legitimacy of the American legal system will suffer a crippling blow, a result surely not lost the harbingers of HOPEYCHANGEYTUDE™ but damaging to the Republic no less, as will be the denial of bailouts to entities like state pension funds by the very entity that robbed them, because they are nothing but a bunch of filthy speculators, making their money by investing it in American companies, rather than helping their fellow man to “become more equal”.

Read Full Post »

*crossposted at The Hostages.

Its hard to be paying attention to the travesties being compiled by “our elected officials” in Washington D.C. these days and not feel like you’re shouting into the teeth of a hurricane. Each passing day brings a fresh outrage, and it is difficult in the face of such an onslaught of offal to not start to feel that it is all part of the left’s plan. Simply pile outrage upon outrage, until they become so commonplace that many people simply fail to take notice any longer. Compound these assaults upon the rule of law and the preservation of our body politic, until even the most astute and keen observers among us are robbed of their erudite criticisms of the audacious effrontery of the Pretender-In-Chief and his gang of socialist thugs, simply because there are only so many ways to cry wolf when you are nose to snout with the beast before the warning is bled of its urgency.

The cabal of CHANGE! has stepped to the podium, and is determined to enshrine its destructive ideals and policies by simply overwhelming the opposition. As Professor Klavan so astutely warned, “SHUT UP!” is now considered a valid response by the left to any criticism. This coup would not be possible without a willing press, and decades of declining educational standards, revisionist history, and an educational doctrine that embraces moral relativism and a deep seated “Hate America First” philosophy. It has proved to be a powerful concoction. It is much easier to report a story when the audience does not understand that the story is about the burning theatre in which they are seated. In this atmosphere, it is easier to marginalize those who would raise the alarm. The left can laugh and point to its detractors, while saying to the massed audience “See? They’re always saying that! That’s just crazy talk! They are such wingnuts, and we should keep an eye on them, in case they become dangerous some day.”

It is a remarkably safe direction for the left to take. In such an environment, with the assistance of a willing media, eager to aid and abet any crimes perpetrated against the republic as long as they can be praised for their “enlightened viewpoint” and continue to be invited to all the best parties, the architects and foot soldiers of this thus far bloodless coup can operate free from fear as they look us in the eye and tell us the most brazen lies, smiling as they do so. America is being gaslighted on a national scale, and those who keep telling us that we aren’t crazy unless we let this continue are being made to appear less relevant with each passing day.

So why the brazeness? Because the left understands the Right’s inherent respect for the rule of law that the left has no use for. There are many among us who, no matter how much the left chooses to slap us in the face and steal the fruits of our labors, will remain firm in the belief that a stern look and the threat to whistle for a cop will cause the offender to cease and desist. Many on the Right are reluctant, either as an expression of good manners or a strong sense of honor, are not compelled to do anything more. Our opponents suffer from no such impairments, and while they know that there are some lines that they dare not cross…yet…their current course of action is one in which they plan to remove all avenues of escape from their increasingly overt tyrannies, so that we will be left, in the end with naught but a terrible choice, the likes of which reformed a new nation on the corpse of more American dead in a four year period than suffered in any other conflict fought by Americans. If we are at last left with such a terrible result, it will not be without careful and deliberate maneuvering by the covetous kleptocrats currently in office. We can be assured that they will do all in their power to reserve any advantage for themselves, be it the deliberate redistribution of resources, the perversion of law until the expression of their demonstrable perversion of the Constitution is illegal as well as vilified, and of course the propagandic usurpation of the moral high ground with the assistance of the sycophantic and fawning media. They will have made all possible preparations before committing their most provocative actions against the American people. And therein lies the danger for the Right. React too soon, and you are a dangerous instigator. React too late, and you are a misguided soul, doomed to an unnecessarily dangerous and destructive course of action that will forever carry the stigma of having been avoidable in a better educated society. Its quite a precarious position that the left has brought us to. An increasingly uninformed and disinterested populace, crippled with a case of societal ADHD, encourged by a Fourth Estate with a vested stake in the outcome. Shake vigorously, and suddenly America descends into a lengthy flirtation with the very notions that defy every concept formerly held dear when we were busy building the shining city on the hill so poetically invoked byour past leaders. I find myself wondering quite a lot now how the average person felt in 1860, seeing the dark clouds on the horizon, and that knowing the complex and rickety framework of compromises that merely postponed the inevitable will not be able to withstand the coming storm, and wondering what event will be the spark, what collapse will precipitate the coming chaos. Ironically, much like then, it will once again be about freedom. The freedom to live without the chains of a debt forged by representatives more eager to be liked than to make the difficult decisions we appointed them to make in our stead. The freedom to take responsibility for our own lives, and stand on our own successes or fall on our own failures. The freedom to live under a government that provides the basic services that government should, in a frugal and responsible fashion, without continually having to pay for other people’s bad choices, mistakes and failures. The freedom to live in a nation too big to fail under the weight of the weight of an irresponsible and unsustainable debt incurred bailing out those that the government deems too big to fail. The freedom to keep the fruits of our own labors and decide for ourselves how our money will be spent. The freedom to rule ourselves in an environment that does not vilify and ridicule our religion and morality to the exclusion of inferior and and hollow beliefs. The freedom to achieve and be limited only by our ambition, our dreams, and our abilities. The freedom to live without government’s hand in digging in my pocket, and taking food off my family’s table. No matter how much a worldview shaped by an inherent belief in only the base and selfish desires of the human heart tries to tell me otherwise, I will not abandon my belief that these freedoms are my birthright, and the birthright of my children, bought and paid for with the lives, fortunes, and sacred honor of those who so solumnly gave of these things to provide it to us.

And yet America sleeps, somehow failing to understand or care. Never in recent memory has such a legacy rested so heavily on the shoulders of so few people. Still, we are the ones who tend the fires, and ultimately, history will judge us for how we act in the face of such adversity. Hold Fast. Do not surrender, for if we go quietly into the night, surely the future will become a place that we would not wish upon our worst enemy, let alone our children and grandchildren.

Read Full Post »

Not only is he one of the principal salesmen of President Obama’s Politics of Lowered Expectations™, Lil’ Timmy Geithner is just as dishonest in selling the American People a load of crap and calling it “medicine”.  I first heard rumblings last week that the Fist-Bumper-In-Chief’s administration was considering giving some of our tax dollars to California, now that the consequences of institutional stupidity were starting to take effect.  I damn near drove off the road when I heard it.  It was bad enough that we took a bath because people who never should have had houses got them, and the Democrats in Congress used Fannie and Freddie as a way to line their own pockets and the pockets of their friends while resisting any and all inquiries, warnings, and efforts of the people who the very same Democrats attempt to blame for their failures.  Its bad enough that we are selling my children and grand-children into debt on a ‘stimulus’ plan that stimulates nothing of note, but gives billions of dollars to ‘community organizing” groups that engaged in wanton election fraud in the last election.  Its bad enough that these “brilliant men” have taken the government from a regulator of the economy to a participant in it, by confiscating the banking system, and two of the big three with “bailout money” and onerous terms.  Now they want me, you, our children, and everyone else to pay for California’s idiotic choices.

And the best part?  Lil’ Timmy and company do not want to admit out loud what they are doing.

“I wouldn’t use the word bailout or federal,” Geithner said. “I would say we’re in close consultation with the people who are looking at ways to make sure these markets are working so that states and munis can meet their needs.”

 Excuse me???   Excuse me???

No.  Absolutely not.  Not if I was three days dead.   And that’s what it will take to take my money to put toward a FEDERAL BAILOUT of Californistan.

Read Full Post »

From Yahoo:

WASHINGTON (AP) — Social Security and Medicare are fading even faster under the weight of the recession, heading for insolvency years sooner than previously expected, the government warned Tuesday. Social Security will start paying out more in benefits than it collects in taxes in 2016, a year sooner than projected last year, and the giant trust fund will be depleted by 2037, four years sooner, trustees reported.

I guess using a crisis to crash the economy with massive and silly spending, monetizing our debt, and muscling government into banks and industry doesn’t seem like such a good idea right now, huh?  The real story here is not that it is failing sooner than expected, it is that it is failing at all.  Social Security and Medicare claim millions of dollars a year from the paychecks of working Americans.  These funds are not put into a pool to pay the expenses of these programs.  They are spent, along with other tax revenues, on dubious pursuits like studying the link between alcohol and promiscuity among gay men in Argentina, or the billions we will pay to ACORN, so they’ll have funds to fight the charges of voter fraud brought as a result of their, well, voter fraud.  Or the Billions that we are giving to GE, so we can be inundated with messages about “green” this, and “green” that by their various (and numerous) media outlets, or so we can pay Keith Olberman’s salary, because there is nothing like a shill for the demented left nightly denouncing others as “The Worst Person In The World!!!11!!!!” on my tax dollar.  And yet the Democrats are using this occasion to show us just how concerned they are about this “crisis” that they have eagerly contributed to over the years.  Lil’ Timmy Geithner, known for his fantastically successful Turbo Tax Skillz, is the de facto head of these “trust funds”.  Wow.  I was able to say “Geithner”, “Tax”, and “Trust” in the same sentence without busting out into laughter.  When questioned about this impending crisis, he immediately adopted a serious pose, stroked his chin, and said

“the longer we wait to address the long-term solvency of Medicare and Social Security, the sooner those challenges will be upon us and the harder the options will be.”

He is right, of course, but I really don’t need ANOTHER tax hike when I expect the bums rush from double digit inflation any moment.

Lacking the courage or originality of thought to propose a solution that would work, Geitner stayed with the Obama Administration Game plan, and decided to say something that doesn’t address the issue at hand, but leads the attention of most people away from their inability to be honest problem solvers, with the aid of a willing media, which refuses to follow up, of course.

“Geithner said that President Barack Obama was committed to working with Congress to find ways to control runaway growth in both public and private health care expenditures, noting the promise Monday by major health care providers to trim costs by $2 trillion over the next decade.”

Gee, uh, thanks.  I guess.

Thankfully, there really are some people in D.C. who are not baffled by the bullshit.

“Instead of getting existing public programs in order right now, some are saying we should create a new government-run health insurance plan,” Sen. Chuck Grassley, the top Republican on the Finance Committee, said in a reference to the administration’s health care proposals. “When we can’t afford the public health plan we have already, does it make sense to add more?”

House Republican leader John Boehner said the trustees report “confirms what we already knew: Our nation cannot afford to continue this reckless borrowing and spending spree.”

Amen, gentlemen.  We cannot keep spending on silly things, and we cannot continue to give away the store.   And I know this isn’t popular to say, but it was never supposed to be retirement.  It was supposed to be help.  If it is going to be preserved without taxing the snot out of the pool of workers paying in, it needs to be means tested, and benefits will have to be reduced.  And it will have to be dedicated when it comes in, period.  Entitlements have to stop if we are to survive.

Read Full Post »

« Newer Posts