The White House gets the Message! President Obama to Block A.I.G. Bonuses

Wow! No sooner than I publish the last entry. This news breaks:

Via Politico.com:

Harnessing public outrage over lavish bonuses for bailed-out executives at insurance giant AIG, President Obama said Monday that he will “pursue every single legal avenue to block these bonuses and make the American taxpayers whole.”

Obama made his forceful remarks at a small-business event at the White House, following a weekend of heavy news coverage of the payments that fueled the populist backlash already building against bailouts for the wealthy.

“This isn’t just a matter of dollars and cents. It’s about our fundamental values,” Obama said.
“All across the country, there are people who work hard and meet their responsibilities every single day, without the benefit of government bailouts or multi-million dollar bonuses,” Obama said. “And all they ask is that everyone, from Main Street to Wall Street to Washington, play by the same rules.”

At one point, he ad-libbed after a cough, “Excuse me, I’m choked up with anger here.”

American International Group has received $173 billion in U.S. bailout funds, making it the largest single recipient. The company has said the bonuses, which came to light over the weekend, were required by contract and can’t be rescinded.

But administration and congressional officials are pursuing indirect ways to recover the roughly $165 million in bonuses.

Speaker Nancy Pelosi (D-Calif.) on Sunday called the bonuses “unconscionable.”

House Financial Services Committee Chairman Barney Frank (D-Mass.) said on NBC’s “Today” show that the bonuses amount to “rewarding incompetence” but acknowledged there might be no way to stop the payments.

“Maybe it’s time to fire some people,” he said. “We can’t keep them from getting bonuses but we can keep them from having their jobs,” he said. “In high school, they wouldn’t have gotten retention [bonuses], they would have gotten detention. … These people may have a right to their bonuses. They don’t have a right to their jobs forever.”

Some Conservatives are not impressed, however, I am extremely happy!  The President has gotten the message. Yeah, I know, he is still doing the bailout crap. But this is a first step, the White House knows that the American people are not happy. The point is, we need to keep up the pressure. This is not a time to quit, this is the time to go into double time pressure, at some point the people in Washington D.C. will get the message.

Good job Tea Party people! 😀

Those pesky populists

Not that there’s anything wrong with that….. 😀

The Story via The Old Grey Lady:

The Obama administration is increasingly concerned about a populist backlash against banks and Wall Street, worried that anger at financial institutions could also end up being directed at Congress and the White House and could complicate President Obama’s agenda.

The administration’s sharp rebuke of the American International Group on Sunday for handing out $165 million in executive bonuses — Lawrence H. Summers, director of the president’s National Economic Council, described it as “outrageous” on “This Week” on ABC — marks the latest effort by the White House to distance itself from abuses that could feed potentially disruptive public anger.

“We’ve got enormous problems that need to be addressed,” David Axelrod, Mr. Obama’s senior adviser, said in an interview. “And it’s hard to address because there’s a lot of anger about the irresponsibility that led us to this point.”

“This has been welling up for a long time,” he said.

Mr. Obama’s aides said any surge of such a sentiment could complicate efforts to win Congressional approval for the additional bailout packages that Mr. Obama has signaled will be necessary to stabilize the banking system.

As it is, there have already been moves in Congress to limit compensation to executives at banks and Wall Street firms that are receiving government help to survive.

Beyond that, a shifting political mood challenges Mr. Obama’s political skills, as he seeks to acknowledge the anger without becoming a target of it. A central question for Mr. Obama is whether his cool style — “in a time of crisis, we cannot afford to govern out of anger,” he said in his address to Congress last month — will prove effective when the country may be feeling more emotional.

[….]

Mr. Obama’s advisers argued that to at least some extent, this was a sentiment they could tap to push through his measures in Congress, including raising taxes on the wealthy. They pointed out that in his speech to Congress, Mr. Obama denounced corporations that “use taxpayer money to pad their paychecks or buy fancy drapes or disappear on a private jet.”

“The president has been very clear about this,” Mr. Axelrod said. “There is reason for anger, but we also have to solve the problem. We need a functioning credit system. That’s our responsibility, and he intends to meet it.”

Still, aides acknowledged the risks of a backlash as Mr. Obama tries to signal that he shares American anger but pushes for more bail-out money for banks and Wall Street.

For all his political skills and his capturing of the nation’s desire for change in the 2008 election, Mr. Obama, a product of Harvard Law School who calls upscale Hyde Park in Chicago home, has shown little inclination to strike a more populist tone. The danger, aides said, is that if he were to become identified as an advocate for the banks and Wall Street, people could take out their anger on him.

“The change now is you have a free-floating economic anxiety that has expressed itself in a kind of lashing out at those being bailed out and people who are bailing out,” Michael Kazin, a professor at Georgetown University who has written extensively on populism. “There’s not really a sense of what the solution is.”

“I do think there’s a potential for a ‘damn everybody in power’ kind of sentiment,” Mr. Kazin said.

Memo to the Tea Party People: It is working my good people! Keep up the protests! Keep up the e-mails and the phone calls and above all, just keep on, keeping on! 😀

For those that wonder what Populism actually is:

Entry: (via Websters)

1pop·u·list
Pronunciation:
?pä-py?-list
Function:
noun
Etymology:
Latin populus the people
Date:
1892
1: a member of a political party claiming to represent the common people ; especially often capitalized : a member of a United States political party formed in 1891 primarily to represent agrarian interests and to advocate the free coinage of silver and government control of monopolies2: a believer in the rights, wisdom, or virtues of the common people
pop·u·lism ?li-z?m noun
pop·u·lis·tic ?pä-py?-?lis-tik adjective

2: a believer in the rights, wisdom, or virtues of the common people

From the Preamble of the United States Constitution:

We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, 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.

Join the Glenn Beck 9/12 Project. Remember, we sorround them. Government is controlled, financed, and ordered by “We the people”, not the other way around. The banking cartels do not run this country, we the people do. Stand up, stand up and fight!

….and for what it is worth, Populism is not a Right or Left thing, it is an American thing.

Others, from all sides: The Moderate Voice, The Hill, Michelle Malkin, The New Republic, TalkLeft, Democracy in America, Hot Air, The Note, Political Punch, Open Left, QandO, Jules Crittenden, Bloomberg, theheretik.us, Brilliant at Breakfast, The Plum Line, Commentary, The Strata-Sphere, The Politico, AMERICAblog News, DealBook, DISSENTING JUSTICE, Washington Post, The Huffington Post, Althouse and TIME.com

An Interesting Movie

I post this because I believe that it is interesting. Alex Jones has always struck me as a kook. Someone amongst the “Tin Foil Hat” crowd. However, it is something interesting to watch.

Enjoy…

What do you think? Do you think that there is any truth to this?

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Can someone remind me as just to why exactly we elected this douche nozzle??!?!?

First off, check this out: (Via America Digest)

Via U.K. Telegraph:

Sources close to the White House say Mr Obama and his staff have been “overwhelmed” by the economic meltdown and have voiced concerns that the new president is not getting enough rest.

British officials, meanwhile, admit that the White House and US State Department staff were utterly bemused by complaints that the Prime Minister should have been granted full-blown press conference and a formal dinner, as has been customary. They concede that Obama aides seemed unfamiliar with the expectations that surround a major visit by a British prime minister.

But Washington figures with access to Mr Obama’s inner circle explained the slight by saying that those high up in the administration have had little time to deal with international matters, let alone the diplomatic niceties of the special relationship.

Allies of Mr Obama say his weary appearance in the Oval Office with Mr Brown illustrates the strain he is now under, and the president’s surprise at the sheer volume of business that crosses his desk.

A well-connected Washington figure, who is close to members of Mr Obama’s inner circle, expressed concern that Mr Obama had failed so far to “even fake an interest in foreign policy”.

A British official conceded that the furore surrounding the apparent snub to Mr Brown had come as a shock to the White House. “I think it’s right to say that their focus is elsewhere, on domestic affairs. A number of our US interlocutors said they couldn’t quite understand the British concerns and didn’t get what that was all about.”

The American source said: “Obama is overwhelmed. There is a zero sum tension between his ability to attend to the economic issues and his ability to be a proactive sculptor of the national security agenda.

“That was the gamble these guys made at the front end of this presidency and I think they’re finding it a hard thing to do everything.”

Oh, it gets better, trust me… Too Tired?!?! Seriously? Think that’s bad?

Via The Old Gray Lady:

President Obama declared in an interview that the United States was not winning the war in Afghanistan and opened the door to a reconciliation process in which the American military would reach out to moderate elements of the Taliban, much as it did with Sunni militias in Iraq.

Mr. Obama pointed to the success in peeling Iraqi insurgents away from more hard-core elements of Al Qaeda in Mesopotamia, a strategy that many credit as much as the increase of American forces with turning the war around in the last two years. “There may be some comparable opportunities in Afghanistan and in the Pakistani region,” he said, while cautioning that solutions in Afghanistan will be complicated.

[…]

“I don’t think that people should be fearful about our future,” he said. “I don’t think that people should suddenly mistrust all of our financial institutions.”

As he pressed forward with ambitious plans at home to rewrite the tax code, expand health care coverage and curb climate change, Mr. Obama dismissed criticism from conservatives that he was driving the country toward socialism. After the interview, which took place as the president was flying home from Ohio, he called reporters from the Oval Office to assert that his actions have been “entirely consistent with free-market principles” and to point out that large-scale government intervention in the markets and expansion of social welfare programs began under President George W. Bush.

Sitting at the head of a conference table with his suit coat off, Mr. Obama exhibited confidence six weeks into his presidency despite the economic turmoil around the globe and the deteriorating situations in Afghanistan and Pakistan. He struck a reassuring tone about the economy, saying he had no trouble sleeping at night.

[…..]

Asked if the United States was winning in Afghanistan, a war he effectively adopted as his own last month by ordering an additional 17,000 troops sent there, Mr. Obama replied flatly, “No.”

Again, can someone please tell me why we elected this feckless idiot douche nozzle? I am really beginning to believe that America blew it. In a really, really, really, big way.

Those who were actually stupid enough to vote for this socialist idiot, get what is coming to them. (yes, that applies to my family too.)

I mean, this asshole is acting like this is some sort of a community organizer job. Being the President is a serious job and this idiot is not even acting remotely like a President. 😡

As much as I disagreed with President George W. Bush on Iraq, I will say this; you never, EVER heard George W. Bush complain or his staff ever say to reporters, even anonymously say that the job was making him tired! Not once.

Not getting enough sleep, what a pansy ass! 🙄

Others: JustOneMinute, Power Line, Pajamas Media, Flopping Aces, QandO, Six Meat Buffet, Macsmind, Flopping AcesGateway Pundit, NO QUARTER, AMERICAN DIGESTWizbangAtlas Shrugs, THE ASTUTE BLOGGERS, HotAir, NO QUARTER, PoliGazette and Cold Fury

Update: Right Voices links in. Thank you! 🙂

Update #3: Peace and Freedom Global Future links in. Thank you! 🙂

Update #2: Whole Bunch more cool people covering this:

Edited to remove accidental dupe links… ooops!

A New Parody "Barry's Farm"

Here’s the Original Song:


Update: It seems that some Fascist Socialist Liberal twit keeps going around getting my video yanked. No biggie, if they yank it. I will find it elsewhere and put it up. This is America and not fascist Germany and I have the RIGHT to express my opinions about the President and his fascist polices. You liberals don’t like it? TOUGH SHIT! 😡

History about the song and concert

New Lyrics:

Barry’s Farm

(Sung to the tune of Maggie’s Farm by Bob Dylan)

Written by Paleo Pat

I ain’t gonna work on Barry’s farm no more.
I ain’t gonna work on Barry’s farm no more.
Well, I wake up in the morning,
Fold my hands and pray that I might keep my gain.
I got a bill full of Taxes
That are drivin’ me insane.
It’s a shame the way he makes me tip the whore.
Naw, I ain’t gonna work on Barry’s farm no more.

I ain’t gonna work under Barry’s Law’s no more.
I ain’t gonna work under Barry’s Law’s no more.
Well, he hands you a Dollar,
Taxes you a dime,
Looks at you with a grin
While robbin’ you fuckin’ Blind,
Then he taxes you every time you open the door.
I ain’t gonna work under Barry’s Laws no more.

I ain’t gonna be a slave for Barry’s Government no more.
No, I ain’t be a Slave for Barry’s Government no more.
Well, he puts a Tax Bill
in your face just for kicks.
His White House
It is made out of Bricks.
The Secret Service stands around his door.
Ah, I ain’t gonna be a slave for Barry’s Government no more.

I ain’t gonna work for Barry’s Bitch no more.
No, I ain’t gonna work for Barry’s Bitch no more.
Well, she talks to all the people
About Equality and Race and Law.
All the while the workin’ people
Are payin’ for other peoples bad calls
She’s a lying thief, but she says her honesty stands tall.
Naw, I ain’t gonna work for Barry’s Bitch no more.

I ain’t gonna work on Barry’s farm no more.
I ain’t gonna work on Barry’s farm no more.
Well, I try my best
To do the best I can,
But everybody wants you
To pay thier bills for them.
They eat steak while you slave and I just get bored.
I ain’t gonna work on Barry’s farm no more
.

On Heals of AIG News Markets off to Shaky Start

The News this morning that AIG is going to get even more bail out monies from the Government. To put it mildly, the markets are not reacting too well at all.

Here’s the charts:

Dow Jones:

image

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VIX:

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NASDAQ-100:

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S&P 500 Index

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QQQQ’s

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XAU

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Charts Courtesy of Think or Swim

Others: JustOneMinute, Commentary, Fausta’s Blog,Michelle Malkin,Don Surber, and more via Memeorandum 

Asian Markets Slide

The ripple effect of Government Socialism spreads:

Asian stock markets slumped Monday amid resurgent concerns that a recovery in the global economy is unlikely to materialize until next year and worries about the global financial sector following fresh government bailouts for the insurance giant American International Group and Citigroup.

The Nikkei 225, Japan’s benchmark index, was down 4 percent and the Kospi in South Korea fell 3.6 percent, while the key index in Hong Kong sagged 3.8 percent. Singapore’s stock market fell 3.3 percent, and the markets in Australia and Taiwan dropped 2.8 percent. Stocks in mainland China declined least, falling 0.2 percent by Monday afternoon.

Stock in banks like Mitsubishi UFJ and Mizuho Financial Group were more than 4 percent lower in Tokyo because of fears about the health of the global banking system, after the United States government moved to take a larger stake in the ailing banking giant Citigroup and was set to give an additional $30 billion in taxpayer money to AIG.

And in Hong Kong, trading in HSBC was suspended in the wake of reports that the British bank will announce on Monday that it is tapping investors for about £12 billion, or about $17 billion.

“It’s pretty despondent everywhere,” said Dwyfor Evans, a strategist at State Street Global Markets in Hong Kong. “Okay, there are signs that some of the leading indicators have stabilized to some extent, but it’s at a very, very low level, and we’re not seeing corporate investment picking up, or consumers starting to spend again – in other words, the traditional mechanisms by which economies come out of a recession are absent at this time.”

via Asian Markets Slump in Monday Trading – NYTimes.com.

While Barack Obama might be the President that saved the working class family in America, he might very well go down as the President who destroyed the free market capitalist system in America and around the World. Although, I will admit, that he did have help. Bill Clinton’s polices, along with the inaction of the Republican Congress of 2003, did nothing to stop this mess.

The bad part about is, I and everyone else will be most likely dead before it is all straightened out.

Welcome to the 21 century. 🙄