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SOLYNDRA - primary fundraiser and obama campaign funds bundler george kaiser gets rich, while taxpayers are soaked for $500MM! solyndra couldn't get private funding, everyone knew their products were obsolete and would fail, yet obama gave solyndra and kaiser half a BILLION DOLLARS...whooosh...
BEACON POWER - fail...another DOE BK catastrophe in loan guarantees costing taxpayers $43MM...another favorite of obama's...the executives get rich after donating to obama, we pay the bill.
GM bailout - cost, $80 BILLION, and the treasury just increased its estimate of LOSSES, now expected to be $23 BILLION! the whole bailout was really a screwing of the private bond holders in order to give the company to the union bosses, who are all HUGE obama supporters and campaign donors.
GM failed because of the unions, obama gave the unions $80 BILLION in taxpayer funds, and GM is in worse shape now...not a failure, if you happen to be one of the elite democrats getting wealthy while our money goes WHOOOSH!!!
MF Global - former NJ governor corzine used his insider democrat connections to run a sham operation, lobby for special treatment, so he could steal millions of dollars from investors...
FANNIE MAE and FREDDIE MAC - INSANE...the two GSEs are a revolving door for democrat politicians and lobbyists, a place they go to make MILLIONS off of taxpayers while dragging down the entire economy
WASHINGTON - The regulator of Fannie Mae and Freddie Mac said last week that million-dollar bonuses paid to executives at the companies were necessary to keep the mortgage giants running.
Edward DeMarco, the acting director of the Federal Housing Finance Agency, sent a letter to U.S. lawmakers that paying a total of $12.8 million in bonuses was a way of keeping talented executives with the companies. Without them, U.S. taxpayers would incur greater losses.
"We will need expert management of those guarantees for years to come," DeMarco wrote to a bipartisan group of 60 senators who have urged him to stop the bonus payouts.
The government rescued Fannie and Freddie three years ago after they nearly folded because of big losses on risky mortgages they purchased. Taxpayers have spent $170 billion to rescue the two. The government estimates the bailout could reach up to $220 billion through 2014.
DeMarco said the executives were hired after the companies were taken over by the government in 2008. The salaries for those positions had been reduced by an average of 40 percent, and some senior positions were eliminated.
Fannie and Freddie own or guarantee about half of all mortgages in the U.S., or 31 million home loans. Along with other federal agencies, they backed nearly 90 percent of new mortgages over the past year.
This month, Fannie asked for $7.8 billion and Freddie requested $6 billion in extra aid to cover large quarterly losses, mostly caused by low mortgage rates reducing profits.
The House Financial Services Committee will meet Tuesday to consider a bill to stop the bonuses from being paid. DeMarco is scheduled to testify.
-------------------- "...we woke up to perfect lefts, and that was our mission."
Celente had his gold, money, and account seized, his segment starts @ 59:00 min., if you don't want to see the whole thing., this just the start of brazen "loan shark" tactics that are going to be out in the open as the move to the new world order, accelerates.
Post Extras:
bloomies
Phil Edwards status
Reged: 09/27/08
Posts: 7172
The total Defense budget is $1.7 Trillion a year. Complain about that
the GM/Chrysler bailout is 100% obama's...nothing to do with the bush admin.
defense is a legitimate responsibility of gov't.
handing over billions of taxpayer dollars to political cronies for sham businesses so that campaign contributors can get rich just before declaring BK for their enterprises that can't secure a dime from the private sector is NOT a legitimate function of gov't.
i didn't support TARP, or the TRILLION DOLLAR stimulus, or the GM/Chrysler bailouts. nobody in the tea party, meaning most conservatives (which is not the same thing as a republican), supported any of that.
i also don't support the continuous watering down of our currency by the fed, in order to mask our current recession.
TARP has been completely repaid, with interest. it is not the same program as the continuous, unabated, bleeding of taxpayer money through the GM bailout (for the unions).
please make an effort to understand the differences.
-------------------- "...we woke up to perfect lefts, and that was our mission."
Union is going to strike Hawaiian Tel They are hurting due to cell phones and the employes want to lose the jobs they have asking for way to much. Not too smart.
"defense is a legitimate responsibility of gov't."
You are completely clueless about the Defense industry in this country. If you only knew how much waste is involved with Defense contracts...... and I'm not talking about the products.....
-------------------- The juice ain't worth the squeeze. -GDaddy
Post Extras:
Norm'
Duke status
Reged: 01/31/03
Posts: 18682
Loc: Lovetron
You do know that GM has paid a good chunk of that back, and that the US is sitting on stock that will eventually get most or all of that money back, right?
-------------------- "I mean, it's not your job to be as confused as Nigel."
Post Extras:
Mo_Fo
Kelly Slater status
Reged: 04/13/05
Posts: 7707
Quote: You do know that GM has paid a good chunk of that back, and that the US is sitting on stock that will eventually get most or all of that money back, right?
Shhhh... let him go on man, he's on a roll.
-------------------- "Your ego is not your amigo" ~Tony Alva
Post Extras:
slash
Nep status
Reged: 08/31/04
Posts: 722
Loc: Pacific
Norm they only read what they want to read!!!! It's called selective intelligence!!! Or selective stupidity!!! Half full or Half empty.... With these numb-nuts....I'll go with the latter.
-------------------- The juice ain't worth the squeeze. -GDaddy
Post Extras:
GDaddy
Phil Edwards status
Reged: 01/16/06
Posts: 7106
Loc: Carlsbad
The sharp downward spike that drops starting in the future kind of reminds me of the charts Obama's campaign put out for their projections on unemployment that would drop as soon as he took office. Not only did those employment projections not pan out, the real employment trend went in exactly the opposite direction. Apparently the assumptions upon which the projections were made didn't pan out.
The ONLY important part of government debt is its relationship to national income ......Gross Domestic Product .....GDP. If a government increases debt while increasing GDP, the economy will remain healthy. If a government increases debt while decreasing GDP, then the economy goes directly into the toilet.
The current increase in the debt-to-GDP ratio has caused the first real drop in personal income, both adjusted and un-adjusted for inflation, in 30 friggin years.
Don't take my word for it. Use your God given senses. Look around. Do you see any suffering? ....any increase in unemployed people? .....any increases in vagrancy on the street?
You would have to be friggin blind to miss it. ..
Post Extras:
hallucinogenic_toreador
Phil Edwards status
Reged: 03/31/06
Posts: 5950
Loc: socal beachbreak barrels
Quote: You do know that GM has paid a good chunk of that back, and that the US is sitting on stock that will eventually get most or all of that money back, right?
you're an idiot...GM was only claiming to have paid back a paltry $7 million, the equity that taxpayers bought is LOSING value because GM sucks!
here it is from reason in terms even you can understand...
Uncle Sam gave GM $49.5 billion last summer in aid to finance its bankruptcy. (If it hadn't, the company, which couldn't raise this kind of money from private lenders, would have been forced into liquidation, its assets sold for scrap.) So when Whitacre publishes a column with the headline, "The GM Bailout: Paid Back in Full," most ordinary mortals unfamiliar with bailout minutia would assume that he is alluding to the entire $49.5 billion. That, however, is far from the case.
Because a loan of such a huge amount would have been politically controversial, the Obama administration handed GM only $6.7 billion as a pure loan. (It asked for only a 7 percent interest rate—a very sweet deal considering that GM bonds at that time were trading below junk level.) The vast bulk of the bailout money was transferred to GM through the purchase of 60.8 percent equity stake in the company—arguably an even worse deal for taxpayers than the loan, given that the equity position requires them to bear the risk of the investment without any guaranteed return. (The Canadian government likewise gave GM $1.4 billion as a pure loan, and another $8.1 billion for an 11.7 percent equity stake. The U.S. and Canadian government together own 72.5 percent of the company.)
But when Whitacre says GM has paid back the bailout money in full, he means not the entire $49.5 billion—the loan and the equity. In fact, he avoids all mention of that figure in his column. He means only the $6.7 billion loan amount.
let's talk about all the president's getting rich off of "green energy" through money obama and the democrats are throwing down the drain.
-------------------- "...we woke up to perfect lefts, and that was our mission."
Post Extras:
Surfdog
Phil Edwards status
Reged: 04/22/01
Posts: 5710
Loc: Oceanside,CA
Our particular small (very small) business is busier than it's ever been since the depths of early 2009 (when we had probably the least amount of work in memory for a couple months). I actually had no jobs to work on for week or slightly more back then. I think our customers were hiding in their bunkers waiting to see what would happen there in the new world of Obama, Jan-March of 2009.
Since then (March-April 2009) we've had more work than I can remember, since my very small company downsized in the early 2000's.
What I've seen, along with some other friends who are independent contractor types, is that you're plenty busy if you deliver a quality product, quality service, and get it done relatively on time.
What's happened is all the slacker types that used to get the overflow from the quality contractors back then, (couldn't or wouldn't take certain jobs), are now hurting, because their reputations have come back to haunt them. Customers remember the hacks, and the hacks are now hurting. Once the economy improves, it makes more room for the hacks to get new customers that don't know their histories.
If you have a good product, service and delivery, you most likely are having no problems making ends meet. It's the over-charging, under-performing hacks that are stuggling now.
Don't forget BrightSource, Robert Kennedy Jr's company. Obama delivered 1.4 BILLION (that's right, BILLION) in bailout funds to BrightSource, a company that will probably fail just like Solyndra. How did BrightSource justify this? It most likely has something to do with Sanjay Wagle, a BrightSource principal who raised large sums for Obama when he ran for President, and was later rewarded with a Department of Energy job, which he parlayed into a 1.4 billion bailout for BrighSource. I'm sure the Kennedy name didn't hurt either. Between BrightSource and Solyndra, Obama has squandered 1.9 BILLION dollars on failing comnpanies to reward campaign contributors. Ever the master of deceit, Obama had Department of Energy employees persuade Solyndra not to announce its layoff of employees and its obvious impending failure until after last year's midterm elections.
Quote: Don't forget BrightSource, Robert Kennedy Jr's company. Obama delivered 1.4 BILLION (that's right, BILLION) in bailout funds to BrightSource, a company that will probably fail just like Solyndra. How did BrightSource justify this? It most likely has something to do with Sanjay Wagle, a BrightSource principal who raised large sums for Obama when he ran for President, and was later rewarded with a Department of Energy job, which he parlayed into a 1.4 billion bailout for BrighSource. I'm sure the Kennedy name didn't hurt either. Between BrightSource and Solyndra, Obama has squandered 1.9 BILLION dollars on failing comnpanies to reward campaign contributors. Ever the master of deceit, Obama had Department of Energy employees persuade Solyndra not to announce its layoff of employees and its obvious impending failure until after last year's midterm elections.
It is okay guys. Bush did it too. Remember how bad he was. Obama is awesome.
Post Extras:
Norm'
Duke status
Reged: 01/31/03
Posts: 18682
Loc: Lovetron
What's the deal with The Who? I hear all this keyboard and they never show a keyboard player.
If RON PAUL gains the Republitard nomination I will definitely vote for him. Obama is not the worst president ever, GWB will hopefully always have that title, but he is a bit of let down. Not because he's too liberal, but because he's too status quo. Oh well. I'm sure he's got his excuses and explanations, everyone does.
Yeah, if Ron P gets the nomination I will vote for him. Go RonPaul4Prez!
Quote: If you have a good product, service and delivery, you most likely are having no problems making ends meet. It's the over-charging, under-performing hacks that are stuggling now.
HT's article is about precisely your aspect of the economy. The capitalist dynamic you cite is happening only in isolated segments of Obama's socialist economy. Obama et al have forcibly confiscated the money of people who would be using it to buy goods and services. They would have used this money to buy the most desirable products .......the highest quality goods and services at the lowest prices. The process would have done just what you are endorsing, selected dedicated hard workers, and placed slackards on the street.
Obama et al have used the confiscated money to purchase poorer quality goods and services at higher prices, from politically connected people. In many cases the selection process has been so intentionally bad that, regardless of how much money Obama throws at these slackards, they fail anyway.
It's a MASSIVE process which produces products which nobody wants, rewards slackards, and sends quality workers onto the streets. Why work hard and produce a better product? If you do succeed, the tax man is there to take it all away, and pay it to some politically connected jackoff. ..
Post Extras:
12rule
Michael Peterson status
Reged: 06/23/10
Posts: 2766
Quote: If you have a good product, service and delivery, you most likely are having no problems making ends meet. It's the over-charging, under-performing hacks that are stuggling now.
HT's article is about precisely your aspect of the economy. The capitalist dynamic you cite is happening only in isolated segments of Obama's socialist economy. Obama et al have forcibly confiscated the money of people who would be using it to buy goods and services. They would have used this money to buy the most desirable products, the highest quality goods and services at the lowest prices. The process would have done just what you are endorsing, selected dedicated hard workers, and placed slackards on the street. Obama et al have used the confiscated money to purchase poorer quality goods and services at higher prices, from politically connected people. In many cases the selection process has been so intentionally bad that, regardless of how much money Obama throws at these slackards, they fail anyway. It's a MASSIVE process which produces products which nobody wants, rewards slackards, and sends quality workers onto the streets. Why work hard and produce a better product? If you do succeed, the tax man is there to take it all away, and pay it to some politically connected jackoff.
Fixed it for you (tried to anyway). You need to learn to type correctly. Just 'cause there's a method to your madness doesn't mean it's not madness.
-------------------- "America is not at war, the US Marines are at war; America is at the mall."
Post Extras:
ifallalot
Duke status
Reged: 12/17/08
Posts: 17923
Loc: Carlsbad, CA
The total Defense budget is $1.7 Trillion a year. Complain about that
And they continued under Obama... and Obama is our current president. Are you going to vote for him again?
Come on man!
I don't even want to vote anymore. Both sides are the same with their endless wars and crony capitalism but I'd rather go with the party that at least pretends to look out for the people instead of pandering to the the corporations and not apologizing for it. A pure lassiez faire free market does nothing but create Robber Barons.
Quote: defense is a legitimate responsibility of gov't.
Yes, defense is a legitimate responsibility of gov't. Our defense budget is bloated beyond belief and the main cause of financial strife in the budget. We don't need to help any other countries and we don't need to spend 45% of the WORLD'S defense budget
-------------------- The only two things in life that make it worth livin is guitars tuned good and firm feelin women
Post Extras:
ifallalot
Duke status
Reged: 12/17/08
Posts: 17923
Loc: Carlsbad, CA
The ONLY important part of government debt is its relationship to national income ......Gross Domestic Product .....GDP. If a government increases debt while increasing GDP, the economy will remain healthy. If a government increases debt while decreasing GDP, then the economy goes directly into the toilet.
The current increase in the debt-to-GDP ratio has caused the first real drop in personal income, both adjusted and un-adjusted for inflation, in 30 friggin years.
Don't take my word for it. Use your God given senses. Look around. Do you see any suffering? ....any increase in unemployed people? .....any increases in vagrancy on the street?
You would have to be friggin blind to miss it. ..
And then you would be smart enough to realize that these trends don't start overnight. They take more like 10 years to pan out.
Who was instituting policies 10 years ago? Hmmm
-------------------- The only two things in life that make it worth livin is guitars tuned good and firm feelin women
I don't even want to vote anymore. Both sides are the same with their endless wars and crony capitalism but I'd rather go with the party that at least pretends to look out for the people instead of pandering to the the corporations and not apologizing for it.
So, as long as they pretend they get your vote? Sweet deal. No wonder the USA is rocking and rolling.
Quote: A pure lassiez faire free market does nothing but create Robber Barons.
First, this is a strawman, because nobody, not even Ron Paul, is advocating "a pure lassiez fair free market" (i.e. anarchy).
It is just not true that limiting government (simple tax code, less regulation (not no regulation, but smart regulation), creates Robber Barons. It certainly can, if the government isn't regulating fraud, theft, monopolization, and cronyism. But we can still have a "free market" (where the prices are determined by "market forces"), and sensible laws and regulations, that don't hamper business.
You do understand that much of the power the "Robber Barons" have/get is facilitated by the government, right?
Building my casa in Baja...just got my solar panels...
Cost, need questioned in $433-million smallpox drug deal A company controlled by a longtime political donor gets a no-bid contract to supply an experimental remedy for a threat that may not exist.
By David Willman, Los Angeles Times
November 13, 2011
Reporting from Washington— Over the last year, the Obama administration has aggressively pushed a $433-million plan to buy an experimental smallpox drug, despite uncertainty over whether it is needed or will work.
Senior officials have taken unusual steps to secure the contract for New York-based Siga Technologies Inc., whose controlling shareholder is billionaire Ronald O. Perelman, one of the world's richest men and a longtime Democratic Party donor.
When Siga complained that contracting specialists at the Department of Health and Human Services were resisting the company's financial demands, senior officials replaced the government's lead negotiator for the deal, interviews and documents show.
When Siga was in danger of losing its grip on the contract a year ago, the officials blocked other firms from competing.
Siga was awarded the final contract in May through a "sole-source" procurement in which it was the only company asked to submit a proposal. The contract calls for Siga to deliver 1.7 million doses of the drug for the nation's biodefense stockpile. The price of approximately $255 per dose is well above what the government's specialists had earlier said was reasonable, according to internal documents and interviews.
Once feared for its grotesque pustules and 30% death rate, smallpox was eradicated worldwide as of 1978 and is known to exist only in the locked freezers of a Russian scientific institute and the U.S. government. There is no credible evidence that any other country or a terrorist group possesses smallpox.
If there were an attack, the government could draw on $1 billion worth of smallpox vaccine it already owns to inoculate the entire U.S. population and quickly treat people exposed to the virus. The vaccine, which costs the government $3 per dose, can reliably prevent death when given within four days of exposure.
Siga's drug, an antiviral pill called ST-246, would be used to treat people who were diagnosed with smallpox too late for the vaccine to help. Yet the new drug cannot be tested for effectiveness in people because of ethical constraints — and no one knows whether animal testing could prove it would work in humans.
The government's pursuit of Siga's product raises the question: Should the U.S. buy an unproven drug for such a nebulous threat?
We’ve got a vaccine that I hope we never have to use — how much more do we need?” — Dr. Donald A. Henderson
"We've got a vaccine that I hope we never have to use — how much more do we need?" said Dr. Donald A. "D.A." Henderson, the epidemiologist who led the global eradication of smallpox for the World Health Organization and later helped organize U.S. biodefense efforts under President George W. Bush. "The bottom line is, we've got a limited amount of money."
Dr. Thomas M. Mack, an epidemiologist at USC's Keck School of Medicine, battled smallpox outbreaks in Pakistan and has advised the Food and Drug Administration on the virus. He called the plan to stockpile Siga's drug "a waste of time and a waste of money."
The Obama administration official who has overseen the buying of Siga's drug says she is trying to strengthen the nation's preparedness. Dr. Nicole Lurie, a presidential appointee who heads biodefense planning at Health and Human Services, cited a 2004 finding by the Bush administration that there was a "material threat" smallpox could be used as a biological weapon.
Smallpox is one of 12 pathogens for which such determinations have been made.
"I don't put probabilities around anything in terms of imminent or not," said Lurie, a physician whose experience in public health includes government service and work with the Rand Corp. "Because what I can tell you is, in the two-plus years I've been in this job, it's the unexpected that always happens."
Negotiations over the price of the drug and Siga's profit margin were contentious. In an internal memo in March, Dr. Richard J. Hatchett, chief medical officer for HHS' biodefense preparedness unit, said Siga's projected profit at that point was 180%, which he called "outrageous."
In an email earlier the same day, a department colleague told Hatchett that no government contracting officer "would sign a 3 digit profit percentage."
In April, after Siga's chief executive, Dr. Eric A. Rose, complained in writing about the department's "approach to profit," Lurie assured him that the "most senior procurement official" would be taking over the negotiations.
"I trust this will be satisfactory to you," Lurie wrote Rose in a letter.
What's the deal with The Who? I hear all this keyboard and they never show a keyboard player.
If RON PAUL gains the Republitard nomination I will definitely vote for him. Obama is not the worst president ever, GWB will hopefully always have that title, but he is a bit of let down. Not because he's too liberal, but because he's too status quo. Oh well. I'm sure he's got his excuses and explanations, everyone does.
Yeah, if Ron P gets the nomination I will vote for him. Go RonPaul4Prez!
I don't even want to vote anymore. Both sides are the same with their endless wars and crony capitalism but I'd rather go with the party that at least pretends to look out for the people instead of pandering to the the corporations and not apologizing for it.
So, as long as they pretend they get your vote? Sweet deal. No wonder the USA is rocking and rolling.
Quote: A pure lassiez faire free market does nothing but create Robber Barons.
First, this is a strawman, because nobody, not even Ron Paul, is advocating "a pure lassiez fair free market" (i.e. anarchy).
It is just not true that limiting government (simple tax code, less regulation (not no regulation, but smart regulation), creates Robber Barons. It certainly can, if the government isn't regulating fraud, theft, monopolization, and cronyism. But we can still have a "free market" (where the prices are determined by "market forces"), and sensible laws and regulations, that don't hamper business.
You do understand that much of the power the "Robber Barons" have/get is facilitated by the government, right?
But you need to understand that the government isn't regulating fraud, theft, etc and every idea I hear from that side to increase business is to let the companies do whatever they want, you know, the whole "job creator" and "trickle down" effect. This philosophy, since Regan, has done nothing but put the country in the shithole it is today.
We probably agree on many more things than you realize, but I place more blame on the Right while you place more on the Left. That simple
-------------------- The only two things in life that make it worth livin is guitars tuned good and firm feelin women
Post Extras:
ifallalot
Duke status
Reged: 12/17/08
Posts: 17923
Loc: Carlsbad, CA
I don't even want to vote anymore. Both sides are the same with their endless wars and crony capitalism but I'd rather go with the party that at least pretends to look out for the people instead of pandering to the the corporations and not apologizing for it.
So, as long as they pretend they get your vote? Sweet deal. No wonder the USA is rocking and rolling.
Quote: A pure lassiez faire free market does nothing but create Robber Barons.
First, this is a strawman, because nobody, not even Ron Paul, is advocating "a pure lassiez fair free market" (i.e. anarchy).
It is just not true that limiting government (simple tax code, less regulation (not no regulation, but smart regulation), creates Robber Barons. It certainly can, if the government isn't regulating fraud, theft, monopolization, and cronyism. But we can still have a "free market" (where the prices are determined by "market forces"), and sensible laws and regulations, that don't hamper business.
You do understand that much of the power the "Robber Barons" have/get is facilitated by the government, right?
But you need to understand that the government isn't regulating fraud, theft, etc and every idea I hear from that side to increase business is to let the companies do whatever they want, you know, the whole "job creator" and "trickle down" effect. This philosophy, since Regan, has done nothing but put the country in the shithole it is today.
We probably agree on many more things than you realize, but I place more blame on the Right while you place more on the Left. That simple
You are correct. They are not regulating fraud, and cronyism. That is the problem.
Our problems go way beyond tax policy (e.g. Trickle Down).
I don't put more blame on the left, granted I am a libertarian, but I blame the right as much, if not more, for our current state. They have done as much to centralize power and control as the left.
I am sure we agree on a lot also.
Post Extras:
greysuit
Michael Peterson status
Reged: 11/16/06
Posts: 2499
Loc: My god..it's full of k00ks
Quote: The problem isn't limited to Obama. It's the system. Nothing will change until the Benjamins stop flowing from special interests to campaign coffers.
The best way to stop (actually, limit) that is to decentralize government power.
Post Extras:
Sirfunn
Gerry Lopez status
Reged: 12/12/10
Posts: 1233
Quote: "defense is a legitimate responsibility of gov't."
You are completely clueless about the Defense industry in this country. If you only knew how much waste is involved with Defense contracts...... and I'm not talking about the products.....
Quote: We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.
Quote: The problem isn't limited to Obama. It's the system. Nothing will change until the Benjamins stop flowing from special interests to campaign coffers.
The best way to stop (actually, limit) that is to decentralize government power.
Uh, this issue was decided after a bloody Civil War. Look, want real "change"? Quit electing slick Ricks who promise the world. Vote for the candidates who are committed to ensuring local voices of the least are heard. Those are the ones who will do the most good for this country.
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Random Guy
Duke status
Reged: 01/16/02
Posts: 23496
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Or selective stupidity!!! 
