New Government Entity

Here a Trillion, there a Trillion, print a Trillion, every where a Trillion.

By the time Obama and  Geithner are finished we will all speak of a Trillion in the same way we currently speak of a Billion.

My Way News

The Obama administration’s latest attempt to tackle the banking crisis and get loans flowing to families and businesses will create a new government entity, the Public-Private Investment Program, to help purchase as much as $1 trillion in toxic assets on banks’ books. […]

A key part of that regulatory framework will give the government new resolution authority to take over troubled institutions that would pose a threat to the entire financial system if they failed. […]

According to administration and industry officials, the toxic asset program will have three major parts:

_A public-private partnership to back private investors’ purchases of bad assets, with government support coming from the $700 billion bailout fund. The government would match private investors dollar for dollar and share any profits equally.

_Expansion of a recently launched Fed program that provides loans for investors to buy securities backed by consumer debt as a way to increase the availability of auto loans, student loans and credit card debt. Under Geithner’s plan for the toxic assets, that $1 trillion program would be expanded to support purchases of toxic assets.

_Use of the FDIC, which insures bank deposits, to support purchases of toxic assets, tapping into this agency’s expertise in closing down failed banks and disposing of bad assets.

Yeah… this should work.

 

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Sign Of The Times, Recent Headlines

The sign reads:

“Hang on folks, it’s gonna be a wild ride!”

Houses passes 90% RETROACTIVE tax against AIG bonuses

U.S. to Aid Auto Industry With $5 Billion for Suppliers

General Motors CEO Rick Wagoner says taxing gasoline until it reaches $4 per gallon is "worthy of consideration"

Fed to pump another $1 trillion into U.S. economy

US stock rally fades as investors assess Fed moves

Chris Dodd Admits To Adding Loophole In Stimulus That Allowed A.I.G. Bonuses

House debates bill taxing AIG and other bonuses

U.N. panel says world should ditch dollar

$750 billion "green" investment could revive economy: U.N.

At G20, Kremlin to Pitch New Currency

Bailed-Out Firms Owe At Least $220M in Back Taxes

 

Grading President Obama

MSNBC is conducting a live poll where you may grade our new president.

To date his grade is an F.

Considering the fact that the poll is being conducted by MSNBC it is remarkable that he is failing. Were this a FOX news poll, well that might be something else.

Somewhat encouraging.

CropperCapture[8]

UPDATE:

Up to 58% saying “He gets an F” with over 36,000 having taken the poll

61% give an “F”, 46,000 + having taken the poll

Are We Socialists? A Poll

I had briefly heard Glenn Beck talking about this poll but wasn’t able to hear his comments in full but I heard enough to think, holy hell!

So, are we [Americans] socialist?

For years I’ve thought we were tending towards socialism and that we would embrace it when and if it came.

I believe that Bush the younger took a big step towards socialism and that president Obama is currently jogging towards socialism and will breakout into a full run very soon.

I want to show you question 32 first.

poll1

If you are having trouble reading the text, the question is:

I’m going to read you a list of items, for each one please tell me
whether you think it is the responsibility of the federal government or not.
First, do you think it is the responsibility of the federal government to
[ITEM], or is that not the responsibility of the federal government? (RANDOMIZE)
SCALE: 1. Yes, is responsibility of federal government 2. No, is not the
responsibility of the federal government 3. (Don’t know)

The responses are as follows:

Make sure all Americans have food/ 68% say yes.

Make sure all Americans have health care/ 66% say yes.

Provide housing to those who cannot afford it/ 52% say yes.

Make sure all Americans who want a job, have a job/ 51% say yes.

I think the first question concerning rebuilding communities is also an indicator, but would be better dealt with separately at a different time.

The final question of rescuing failing financial institutions could be considered encouraging, but it really isn’t.

The only reason people say the government should not rescue these organizations is because they [perhaps rightly so] are angry with the organizations.  The American people blame [wrongly so] these financial institutions for our current economic situation and they [the American people] want to see these institutions suffer.

Consider the above responses and then consider along side the following poll questions and responses.

poll4

Question 39: Do you think Americans are starting to rely too much on the government and not enough on themselves?

A case of schizophrenia?

The polled persons want the federal government to supply food, health care, employment and housing and at the same time they believe Americans rely too much on government and not enough on ourselves?

Are we socialists?

Yes I think so, reluctant perhaps, but socialists none the less.

There is a lot more to this poll, follow the link at the beginning of this post to see the whole of the poll. I thought the whole of the poll is disturbingly revealing.

Dow Jones

Saw this link on the Drudge Report today.

The Dow since inauguration day.

Doesn’t look like America is buying the hope hype anymore.

CropperCapture[1]

Let The Witch Hunt Begin

I understand that most of us who make a claim to conservatism are sane, but we have our nutters just as the left has theirs.

There are a number of groups on Facebook that have popped up calling for the impeachment of Barack Obama.
The man hasn’t even taken office as of yet.

This nothing more than hysteria and I hate to say it, hate.

We should be in prayer for this man who will lead this nation.
We should pray that God will lead him.

I want Barack Obama to be successful as president, because I want successful leaders for this nation. I define success differently than he does which in order for him to meet my definition of success would mean his whole agenda would have to change.

But you never know what God may do with his heart.

I WILL NOT be a part of anything which hopes for the failure of a U.S. President.
I expect failure from him, but I do not seek it and I believe anyone who does seek it does not have the best interest of the nation at heart.

I expect Barack Obama to screw this nation up and bring us a Euro centric type of Socialism.

I expect he will not veto any legislation to bring back the Fairness Doctrine, I expect him to keep his promise and make one of the first things he does is to sign the Freedom of Choice Act.

Those things are beyond offensive, but they are not impeachable offenses. He also, being only president elect, has not done anything impeachable. He may once in office and if so then we should pressure for his impeachment. But then that should be done to any president of the right or left who does something impeachable.

The stupidity is astounding and is no way to unite Republicans (Democrat light) let alone moved forward with a forward with an effective Conservative movement.

Leave the dramatics and hysteria to those who are best at it, the Left.

I am not a fan of Barack Obama, I think his being president of these United States will be very detrimental , but weather I like or not and weather any given individual likes it or not he will be the next president.

I personally do not want to hear “he isn’t my president”, he is my president unless I relinquish my citizenship. He is your president as well unless you relinquish your citizenship.

This does not mean I am going to support him in anything and everything, I suspect I will support him in next to nothing if in anything at all.

But it is not in the interest of the right or of the nation to attack him based upon nothing.
Do you want to be the equivalent of the moonbats who were constantly attacking Mr. Bush? Those fools kept the nation divided and many things did not get done because of them.

Obama Thanks Press For Being, “Gracious And Understanding”

Breitbart

Obama acknowledged there had been “sometimes friction” between the campaign and the press.

“But you guys have been gracious and understanding,” he said, following conservative criticism of the press for its coverage of Obama, as his plane prepared to depart after a huge rally in Virginia for Chicago.

“It’s been a good long ride with all of you,” the Illinois senator said.

“Gracious and understanding”?

Were I Mr. Obama I might have choosen to thank them differently.
Perhaps I would have thanked them for their complicity in my probable election.

Perhaps I would have thanked them for having been my accomplice in deception and in the hiding of some portions of my record and history.

I might thank them for their; collaboration, their collusion, their abetment, manipulation in my favor, their machinations.

On I could go, but won’t.

My point obviously being, if Barack Obama does win this election, he can at least in part thank the MSM.

I know some, mostly those on the left, deny the leftward lean (extreme lean in many cases, MSNBC for example) of the MSM, deny as they might it is factual and has been demonstrated many times over.

Demonstrated yet never delt with, I suspect it never will be as that would mean those with the the lean would have to self correct.

Cross Posted @ Little Bit Tired, Little Bit Worn