Archive for March 19th, 2009

Presidential Oath Takers and Oath Breakers–Stopping The 20 Million Mexican Illegal Alien Invasion of the United States!

Posted on March 19, 2009. Filed under: Blogroll, Communications, Economics, Education, Employment, Homes, Immigration, Law, Links, Philosophy, Politics, Quotations, Rants, Raves, Resources, Security, Strategy, Video, War | Tags: , , , , , , , , , , , , , , , , , , , , |

“No man is above the law and no man is below it: nor do we ask any man’s permission when we ask him to obey it.”

~President Theodore Roosevelt 

 

George Washington takes the Oath of Office (Inauguration)

President George W. Bush Taking The Oath of Office

President George W. Bush Taking The Oath of Office

Inauguration Of George W. Bush

 

Every President of the United States must take the following oath of office as setforth in the US Constitution, Article II, Section 1:

“I do solemnly swear (or affirm) that I will faithfully execute the office of President of the United States, and will to the best of my ability, preserve, protect and defend the Constitution of the United States.”

http://www.law.cornell.edu/constitution/constitution.articleii.html#section1

Under Article 4, Section 4, the Federal Government must defend the states against invasion:

“The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion; and on Application of the Legislature, or of the Executive (when the Legislature cannot be convened) against domestic Violence.”

http://www.law.cornell.edu/constitution/constitution.articleiv.html#section4

 

obama_swearing_in_back

 

Barack Obama Oath of Office

 

obama_family_swearing_in

 

“The clearest way to show what the rule of law means to us in everyday life is to recall what has happened when there is no rule of law.” 

~ President Dwight David Eisenhower

President Obama becomes the second President in a row that breaks his oath of office and fails to stop the invasion of the United States by over 20 million Mexican illegal aliens.

Instead of enforcing existing immigration laws and deporting illegal aliens, President Obama under the code words of  “comprehensive immigraion reform,”  and a  “pathway to citizenship” wants to grant the millions of illegal aliens now working in America — amnesty!

cnn – obama on immigration reform – no borders


 

President Obama and Immigration Reform

Mexican Drug Cartels Overrunning American Cities. Build a border Wall – Glenn Beck

Lou Dobbs: Mexican Border Drug War & Border Fencing

 
 

Excuse me Mr. President but unemployed Americans now numbering over 13 million want to know why illegal aliens numbering over 20 million are still illegally working in the United States?

Tell the 20 million Mexican illegal aliens to come out of the shadows and go home, Mr. President.

Tell American business owners to stop hiring illegal aliens by requiring them to use E-Verify, Mr. President.

Tell those who want to immigrate to the United States to do so legally or do not come at all, Mr. President.

Tell the American people that the double border fence and road will not only be completed but will extended along the entire border with Mexico and be well patrolled, Mr. President.

Yes the United States is a nation of immigrants, Mr. President, however, the United States is also a nation under the rule of law.

Mr. President, start enforcing the immigration laws and stop trying to change them to reward criminal aliens!

Either honor the oath office you freely took  “to the best of my ability, preserve, protect and defend the Constitution of the United States .” or do the right thing and resign.

close_up_obama

Unfortunately, President Obama is misleading the American people that he intends to stop businesses from hiring illegal aliens.

Instead President Obama and the Democrats are in fact trying to kill E-Verify, the most effective tool in stopping the hiring of illegal aliens!

Both E-Verify and the double border fence work to stop the illegal alien invasion.

Both President Obama and the Democrats oppose them for precisely this reason.

Lou Dobbs – 2-2-9 – Obama Admin wants to kill E-Verify

Lou Dobbs – E-Verify & Border Fence may be canceled

E-Verify Killed by Democrats, Stripped from Stimulus Bill, Illegal Aliens will get Stimulus Jobs

The overwhelming majority of Americans want illegal immigration to stop and those illegally living and working to just go home.

Unfortunatley, the current President of the United States like the past President, will not stop the 20 million Mexican invasion of the United States.

Both Presidents are oath breakers who refused to enforce the immigration laws.

The rule of law is being challenged by the rule of man.

Ronald Reagan takes the oath of office

“Freedom prospers when religion is vibrant and the rule of law under God is acknowledged.”

~President Ronald Reagan

 

We The People Stimulus Package

LOL

What if they Stole Your Springsteen Seats…

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009! 

Background Articles and Videos

The Second American Revolution

 

Glenn Beck – Worst-Case Scenario No. 1/3

Glenn Beck – Worst-Case Scenario No. 2/3

US Constitution

http://www.law.cornell.edu/constitution/constitution.overview.html 

 

FAIR

Federation for American Immigration Reform

Public Opinion Polls on Immigration

“…The general public overwhelmingly favors immigration reform. Poll after poll shows that Americans want well-enforced, sensible, and sustainable immigration laws.

  • 89% of Americans think illegal immigration into the U.S. is a problem (30% “extremely serious,” 33% “very serious,” and 26% “somewhat serious.” (Time Magazine, Jan. 2006)
  • 82% think that not enough is being done along the borders to keep illegal immigrants from crossing into the country. (New York Times/CBS May 2007)
  • 68% feel that the number of immigrants who cross the border, whether legal or illegal is “too high”. (Polling Company, Sept. 2006)
  • 62% oppose making it easier for illegal immigrants to become citizens of America. (Quinnipiac Univ., Feb. 2006)

These are only a few examples of the many statistics demonstrating that Americans want lower immigration, greater enforcement, and more commitment to making immigration work in the best interests of the nation.

MOST RECENT NATIONAL POLLS

A Rasmussen Report Poll conducted November 5, 2008 of 1,000 likely voters asked: “Is the government doing enough to secure the border?”

  • 79% responded “no,”” it is not doing enough.
  • 10% responded “yes.”

It also asked, “Which is more important: securing the border or legalizing undocumented workers?”

  • 65% responded that gaining control of the border is more important.
  • 26% responded that legalization is more important.

Rasmussen Report Poll conducted from October 24-25th of 800 likely voters found that:

  • 51% opposed the DREAM Act (a form of amnesty for former and present illegal alien students) concept
  • 68% believe the passage of the bill would encourage more illegal immigration in the future.
  • 71% believe that illegal immigrants should not qualify for in-state tuition rates at colleges and universities.
  • 77 % oppose making drivers’ licenses available to illegal immigrants. …”

http://www.fairus.org/site/PageServer?pagename=research_researchd74c

 

Downsizing Illegal Immigration
A Strategy of Attrition Through Enforcement

May 2005

By Mark Krikorian

“…An important point about using verification of legal status as a way downsize the illegal population is that its effects would be felt gradually, rather than all at once. A new, functional verification system for employment, for instance, would be applied mainly to new hires (though employers should have the option of checking existing employees as well). The same is true for getting a driver’s license or a mortgage — these are not things people do every day, so the effects of verifying legal status would unfold over a period of time.

Attrition requires not only implementing policies to force illegals to deport themselves, but also avoiding policies that would trigger more illegal immigration. This has two main policy implications: First, streamline the legal immigration system to make it less likely to promote illegal immigration, by eliminating the visa lottery and the preference category for adult siblings of U.S. citizens. And second, under no circumstances undertake any new guestworker programs, the inevitable result of which would be to stimulate even more illegal immigration.

And finally, legalization (i.e., amnesty) isn’t even a legitimate topic for discussion until after the broken immigration system is fixed. Even then, there are strong arguments against it, but it would at least be appropriate to debate it as one possible way to deal with long-term illegal aliens. Until that time, however, even a discussion of legalization (or normalization, or earned regularization, or whatever this week’s euphemism is for amnesty) is irresponsible and subversive of law enforcement.

An effective strategy of immigration law enforcement requires no booby traps, no tanks, no tattoos on arms — none of the cartoonish images invoked in the objections raised routinely by supporters of loose borders. The consistent application of ordinary law-enforcement tools is all we need. “Consistent,” though, is the key word. Enforcement personnel — whether they are Border Patrol agents, airport inspectors, or plainclothes investigators — need to know that their work is valued, that their superiors actually want them to do the jobs they’ve been assigned, and that they will be backed up when the inevitable complaints roll in.

And, finally, this isn’t bitter medicine the public must be persuaded to swallow for the greater good. Enforcement of the immigration law may not be popular among the elite, but actual voters across the political spectrum support it. As Alan Wolfe wrote in One Nation, After All, the difference between legal and illegal immigrants “is one of the most tenaciously held distinctions in middle-class America; the people with whom we spoke overwhelmingly support legal immigration and express disgust with the illegal variety.”

Harnessing that sentiment can buttress a sober, considered policy of attrition through enforcement.”

http://www.cis.org/articles/2005/back605.html

 

Nacy Pelosi Says Enforcing Immigration Law is Un-American

 

 

Obama-immigration(LA RAZA)

 

Obama Immigration Reform / Youth gangs dropouts / Latino racial identity: Janet Murguia NCLR

 

San Francisco values: Pelosi says enforcing immigration laws is “un-American”

By Michelle Malkin  

As I noted yesterday, the next big shamnesty push is underway at the White House. And Nancy Pelosi is performing her own open-borders sideshow in the House circus tent. If her rhetoric trashing federal ICE agents sounds familiar, well, it’s because Barack Obama engaged in the same smearing during the campaign — when he accused ICE agents of “terrorizing” families.

Pelosi the Patriot goes one step further and asserts that enforcement actions by ICE are “un-American.”

These are San Francisco values at work: …”

http://michellemalkin.com/2009/03/18/san-francisco-values-pelosi-says-enforcing-immigration-laws-is-un-american/ 

 

Immigration Hearing 5/10/2007 — Robert Rector (Heritage)

 

Robert Rector on the Cost of Low-Skill Immigrants

 

The Dangers of Unlimited Legal & Illegal Immigration


 

Stop Amnesty for Illegal Immigrants

 

New Immigration study out and results are shocking

 

How Many Illegal Aliens are in the U.S.? – Introduction

Census Bureau estimates of the number of illegals in the U.S. are suspect and may represent significant undercounts. The studies presented by these authors show that the numbers of illegal aliens in the U.S. could range from 20 to 38 million.

 

How Many Illegal Aliens Are in the US? – Diana Hull, part 2

 

How Many Illegal Aliens Are in the US? – Fred Elbel

 

How Many Illegal Aliens Are in the US? – Philip Romero

 

Number of illegal immigrants in U.S. may be closer to 20 million

“…In 2005, Bear Stearns analysts determined that the surveys conducted by the Census Bureau undercounted the number of illegal immigrants by far more than 10%. Through discussions with illegal immigrants, Bear Stearns found that immigrants avoid responding to Census questionnaires and work very hard to conceal their identities.

As an alternative to the residual method, Bear Stearns used micro-economic indicators to project an alternative estimate. They examined trends in school enrollment, foreign remittances and housing permits in states with high populations of undocumented immigrants like Texas, California, and New York. 

Underpinning Bear Stearns’ estimate of 20 million illegal immigrants is the identification of two patterns: 1) a trend of sharply increased demand for public services in communities that have become gateways for immigration, and 2) increases in foreign remittances (money sent back to an immigrant’s native country), housing permits and border-crossings.

Given the unrecorded nature of the illegal immigration phenomenon, it’s unlikely that a well-founded or rigorous method of measurement will be developed. The reality is, the math is fuzzy and the most definitive conclusion one can make is that the measurements of illegal immigrants in the U.S. are subject to extreme inaccuracies.”

http://ohmygov.com/blogs/general_news/archive/2008/04/10/number-of-illigral-immigrants-in-u-s-may-be-closer-to-20-million.aspx

 

Planting the seeds of the next shamnesty

By Michelle Malkin  

“…The Hill reports that President Obama will “huddle” with Hispanic Democrats tomorrow to talk “immigration reform.”

Translation: The seeds of the next shamnesty are being planted:

Hispanic Democrats will have their first West Wing meeting with President Obama on Wednesday morning to discuss immigration reform, according to Democratic sources.

The meeting is the first face-to-face sit-down between Obama and the Congressional Hispanic Caucus (CHC) since the president was sworn-in. Some in the CHC have recently expressed frustration that Obama has not talked more about immigration in his first two months in office.

Immigration reform is front-and-center on the group’s agenda.

CHC is eager to hear the president’s ideas and proposals for tackling immigration reform, not only as it relates to a comprehensive reform bill that could provide a pathway to citizenship for millions of undocumented workers but also as it relates to rolling back Bush administration policies of raiding workplaces and detaining and deporting thousands of illegal workers.

CHC members came away from a recent meeting in the Capitol with Department of Homeland Security Secretary Janet Napolitano — a day after her Senate confirmation hearing — very encouraged that the workplace raids policy would be fully reviewed, and possibly altered.

Obama is on board. His DHS secretary is on board. The question is not whether, but when. He spoke to the massive illegal alien shamnesty march in Chicago in 2006, where he boasted of standing “shoulder-to-shoulder” with the open-borders mob. Here’s a flashback: …”

 http://michellemalkin.com/2009/03/17/planting-the-seeds-of-the-next-shamnesty/

 

Obama’s border talk: I call bull

By Michelle Malkin  

 

“…There’s been a bit of a stir over President Obama’s comments suggesting that he is open to the idea of sending National Guard troops down to the southern border to deal with long-festering chaos.

“We’re going to examine whether and if National Guard deployments would make sense and under what circumstances they would make sense,” Obama said during an interview with journalists for regional papers, including a McClatchy reporter.

(link)

Yadda yadda yadda. I call bull.

No meaningful security force will be mobilized along our border.

It will never happen as long as the La Raza/Race lobbyist has a seat at Obama’s table and certainly not as long as DHS is headed by a secretary who is incensed that basic immigration laws are being enforced.

And not as long as the White House is supported and populated by open-borders activists pushing for shamnesty and other illegal immigration-legitimizing measures (hint: Census power grab) designed to boost Democrat voter rolls.

Not going to happen. The state of the borders will remain unsound.

I’d love to be proven wrong.

*** …”

http://michellemalkin.com/2009/03/12/obamas-border-talk-i-call-bull/

 

 THE EMPLOYMENT SITUATION:  FEBRUARY 2009

   Nonfarm payroll employment continued to fall sharply in February (-651,000),
and the unemployment rate rose from 7.6 to 8.1 percent, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today.  Payroll employ-
ment has declined by 2.6 million in the past 4 months.  In February, job
losses were large and widespread across nearly all major industry sectors.

Unemployment (Household Survey Data)

   The number of unemployed persons increased by 851,000 to 12.5 million in
February, and the unemployment rate rose to 8.1 percent.  Over the past 12
months, the number of unemployed persons has increased by about 5.0 million,
and the unemployment rate has risen by 3.3 percentage points.  (See table
A-1.)

   The unemployment rate continued to trend upward in February for adult
men (8.1 percent), adult women (6.7 percent), whites (7.3 percent), blacks
(13.4 percent), and Hispanics (10.9 percent).  The jobless rate for teen-
agers was little changed at 21.6 percent.  The unemployment rate for Asians
was 6.9 percent in February, not seasonally adjusted.  (See tables A-1, A-2,
and A-3.)

   Among the unemployed, the number of job losers and persons who completed
temporary jobs increased by 716,000 to 7.7 million in February.  This mea-
sure has grown by 3.8 million in the last 12 months.  (See table A-8.)

   The number of long-term unemployed (those jobless for 27 weeks or more)
increased by 270,000 to 2.9 million in February.  Over the past 12 months,
the number of long-term unemployed was up by 1.6 million.  (See table A-9.)

http://www.bls.gov/news.release/empsit.nr0.htm

Immigrants in the United States, 2007
A Profile of America’s Foreign-Born Population

November 2007

Steven A. Camarota

Download the .pdf version

  • The nation’s immigrant population (legal and illegal) reached a record of 37.9 million in 2007.
     

  • Immigrants account for one in eight U.S. residents, the highest level in 80 years. In 1970 it was one in 21; in 1980 it was one in 16; and in 1990 it was one in 13.
     

  • Overall, nearly one in three immigrants is an illegal alien. Half of Mexican and Central American immigrants and one-third of South American immigrants are illegal.
     

  • Since 2000, 10.3 million immigrants have arrived — the highest seven-year period of immigration in U.S. history. More than half of post-2000 arrivals (5.6 million) are estimated to be illegal aliens.
     

  • The largest increases in immigrants were in California, Florida, Texas, New Jersey, Illinois, Arizona, Virginia, Maryland, Washington, Georgia, North Carolina, and Pennsylvania.
     

  • Of adult immigrants, 31 percent have not completed high school, compared to 8 percent of natives. Since 2000, immigration increased the number of workers without a high school diploma by 14 percent, and all other workers by 3 percent.
     

  • The share of immigrants and natives who are college graduates is about the same. Immigrants were once much more likely than natives to be college graduates.
     

  • The proportion of immigrant-headed households using at least one major welfare program is 33 percent, compared to 19 percent for native households.
     

  • The poverty rate for immigrants and their U.S.-born children (under 18) is 17 percent, nearly 50 percent higher than the rate for natives and their children.
     

  • 34 percent of immigrants lack health insurance, compared to 13 percent of natives. Immigrants and their U.S.-born children account for 71 percent of the increase in the uninsured since 1989.
     

  • Immigrants make significant progress over time. But even those who have been here for 20 years are more likely to be in poverty, lack insurance, or use welfare than are natives.
     

  • The primary reason for the high rates of immigrant poverty, lack of health insurance, and welfare use is their low education levels, not their legal status or an unwillingness to work.
     

  • Of immigrant households, 82 percent have at least one worker compared to 73 percent of native households.
     

  • There is a worker present in 78 percent of immigrant households using at least one welfare program.
     

  • Immigration accounts for virtually all of the national increase in public school enrollment over the last two decades. In 2007, there were 10.8 million school-age children from immigrant families in the United States.
     

  • Immigrants and natives have similar rates of entrepreneurship — 13 percent of natives and 11 percent of immigrants are self-employed.
     

  • Recent immigration has had no significant impact on the nation’s age structure. Without the 10.3 million post-2000 immigrants, the average age in America would be virtually unchanged at 36.5 years.

 

Related Posts On Pronk Palisades

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

President Obama Delays E-Verify–Shame On You Mr. President!

One Big Awful Mistake America (OBAMA): Veterans Will Now Lead The Fight To Defeat Radical Socialism!

The Cost of Comprehensive Immigration Reform–McCain and Obama Are Hopeless–It is the Economy Stupid!

Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

The 2008 U.S. Presidential Election–Wedge Issues Now (WIN)?

The Issue of The United States 2008 Presidential Election–Criminal Alien Removal (CAR) and A Border Security Fence (BSF)

Clear, Hold, Build– Strategy for Victory In Iraq–Now Ready for Prime Time in America– Operation Criminal Alien Removal (CAR)!

 2008 Presidential Choice: Leader or Diletant–McCain or Obama 

Presidential Election 2008: American Elites Vs. American People

Appeasers and Oath Breakers All: Bush, Clinton, Bush, McCain, Clinton, Obama…Who is next?

Why immigration will be the number 1 political issue in the 2008 Presidential Election! — Gum Balls

Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

The Cost of Comprehensive Immigration Reform–McCain and Obama Are Hopeless–It is the Economy Stupid!

John McCain’s Position on Illegal Immigration and Criminal Alien Removal? 

Presidential Election 2008: American Elites Vs. American People

Alan Keyes on Immigration

US Immigration Videos 

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

Tea Parties Take Off In Texas–Spreading Nationwide–Are You Going To Washington Fair? Millions Celebrate The Second American Revolution–Saturday, July 4, 2009

Operation Family Freedom (OFF): Millions Celebrate Washington Fair, Saturday, July 4, 2009–The Second American Revolution

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

 

 

 

 

Read Full Post | Make a Comment ( 9 so far )

Obama’s Marxist Magic Mess–Big Bad Bonuses–Radical Socialist Sleight of Hand

Posted on March 19, 2009. Filed under: Blogroll, Economics, Employment, Investments, Links, Music, Politics, Quotations, Rants, Raves, Regulations, Taxes, Technology, Video | Tags: , , , , , , |

“Interventionism cannot be considered as an economic system destined to stay. It is a method for the transformation of capitalism into socialism by a series of successive steps.”

“The essence of the interventionist policy is to take from one group to give to another. It is confiscation and distribution.”

“An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole system of interventionism collapses when this fountain is drained off: The Santa Claus principle liquidates itself.”

 

 

~Ludwig von Mises

Why Are Dems Outraged Over AIG Bonuses When They Benefit Too?

 

ABC Panel Discusses AIG Bonuses

 

Glenn Beck – “Congress Using AIG as a Distraction”

 

Glenn Beck on the AIG Government Scam

 

Jim Rogers: Let AIG Go Bankrupt or USA Finished

 

Jim Rogers : Must Let Banks Fail

 

CNBC’s Rick Santelli on AIG Bonuses “No Big Deal”

 

Penn and Teller Explain Sleight of Hand

 

Both President Obama and the Democrats in the House and Senate are going on and on about all those big bad bonuses totaling $165 million that AIG gave its employess.

 

 

The Democratic Party’s radical socialists wanted the bailouts in the first place so they could nationalize or socialize the banking industry that is in financial crisis or trouble over their investments in mortage backed securities and related derivative securities.

I was and remain opposed to any government intervention into the financial markets by providing capital in the form of a loan to prevent a business going into bankruptcy or liquidation.

The bonuses are a contract between the company, AIG, and its employees.

If there had been no bailout of AIG, AIG would be in bankruptcy or liquidation and the the employees’ contracts would have been set aside.

Once the Federal Government bailedout AIG and the funds were now available for bonsues–the contracts were honored and paid.

The Democrats led by Senator Dodd actually put language in the bill that permitted the payment of bonuses by AIG!

 

Sen. Christopher Dodd says he was responsible for the AGI bonus loophole

 

Carl Cameron Reports Sen. Chris Dodd saved AIG Bonuses

 

liberal Hypocrisy- chris dodd The Liar On AIG Bonuses

 
 

Then the Democrats rushed the bills through Congress without even reading their own words!

Congress should be forced to return their own paychecks for not doing their own jobs.

The arrogant and clueless Democrats wanted the bailouts for their friends and campaign contributors on Wall Street.

Obama Fundraising

 

Obama Ranks Second In Freddie/Fannie Contributions

AIG executives who received the bonuses also gave Senator Dodd campaign contributions totaling over $100,000.

“…Dodd’s state of Connecticut is home to a large division of AIG, which has given the former Democratic presidential candidate more money than to any other lawmaker. Dodd received more than $101,000 in campaign donations from AIG employees in 2008 and $223,000 since 2003, according to OpenSecrets.org. …”

http://www.sfexaminer.com/local/Dodd-silent-on-language-in-stimulus-that-allows-AIG-bonuses_03_18-41404342.html

 

Blame the Democrats for this mess and its continuation.

Bailouts beget more bailouts.

Government intervention leads to more government intervention.

Ban Bailouts.

No amount of hand waving and feigned outrage over $165 million in bonuses will distract the American people from the reality that the Democrats want anywhere from $3 trillion ($3,000,000,000,000) to $4 trillion ($4,000,000,000) for the Federal Government to purchase so-called “troubled-asset” or invest additional money in failing companies.

Forget about the bonuses, focus on who AIG in turn sent to the bailout money to meet AIG’s contracts with them and the amounts:

  • Goldman Sachs:                                         $   12,900,000,000 or $12.9 billion
  • Merril Lynch:                                             $    6,800,000,000 or $6.8 billion
  • Bank of America:                                        $    5,200,000,000 or $5,2 billion
  • Citi Group:                                                $    2,300,000,000 or $2.3 billion
  •  Wachovia                                                $    1,500,000,000 or $ 1.5 billion
  • Société Générale of France            nearly  $   12,000,000,000 or $12 billion
  • Deutsche Bank of Germany            nearly  $   12,000,000,000 or $12 billion
  • Barclays of Britain                                   $     8,500,000,000 or $8.5 billion
  • UBS of Switzerland                                  $     5,000,000,000 or $5 billion

The reason AIG was “too big to fail” is that if it were not bailouted, many other financial institutions in the United States and abroad would also be signficantly impacted.

Why is United States bailingout foreign banks, the American people would like to know?

Did executives of Goldman Sachs, Merril Lynch, Bank of America, Citi Group, Wachovia, and AIG make signigicant campaign contributions to the Democratic Party and its candidates including Senator Dodd and President Obama?

You bet they did!

Who was responsible for the irresponsible mortage loans in the first place?

The Democratic Party including the Congressional Black Causus and the Congressional Progressive Causus!

 

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis

 

 

Obama & the Congressional Black Caucus are responsible for the financial melt-down

 

The very people that are now complaining  about $166 million in bonuses  paid by AIG to their employees are also the very same people that bear a large share of the blame for causing the financial crisis in real estate mortage loans and related securites!

Keep your eyes on ball and not the the radical socialist sleight of hand.

Forget about the bonuses.

Stop all the bailouts now.

Boycott any company or bank that accepts bailout money. 

Cut Senator and Congress pay in half for financial incompetence.

Better yet fire the greedy, arrogant, stupid bastards!

 LOL

It’s not AIG. It’s the GOV…

A Special Message from Barack Obama’s Teleprompter

 

Incompetent obama’s Teleprompter Crutch- The one Seeks Dialogue With taliban


 

Tarp Song “I Want Some Tarp” by Bill Zucker ” Stimulus and tarp 2 song

 
 

Bailout Figures

Current Bailout Amount: $11,623,630,000,000

“…TARP and the bailouts of Bear Stearns and Citigroup are just the tip of the iceberg. So far, our government committed more than $11.6 TRILLION to funding failed companies (that’s over $60,000 per family in America!), and has spent $3.8 trillion of that in just a few months. (Mouse over the circles below to see the details.)
Yeah, it’s really that bad.

What’s worse? It’s not making a difference. The line for bailouts is growing, and includes the telecom industry, airlines, as well as city and state governments.
We’ve got to do something.

Obama talks a tough game about bailouts, but his own stimulus package and his bank bailout proposal hand BILLIONS more of our dollars to failed companies. …”the gent to DO WHAT’S RIGHT: Stop the bailouts!

http://www.right.org/bailout/main

 

Right.org: Bailout Prize Patrol


 

The American people are oganizing Tea Parties across the United States to protest the One Big Awful Mistake America (OBAMA)!

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

Tea Parties Take Off In Texas–Spreading Nationwide–Are You Going To Washington Fair? Millions Celebrate The Second American Revolution–Saturday, July 4, 2009

Operation Family Freedom (OFF): Millions Celebrate Washington Fair, Saturday, July 4, 2009–The Second American Revolution  

 

Huge amounts of AIG bailout went to Goldman Sachs

“Goldman Sachs (GS) seems to do everything right, even in the midst of disaster. It turns out AIG (AIG) paid it large sums of money from funds provided by the government.

According to The Wall Street Journal, Goldman got about $6 billion in the last four months of 2008. “The government’s rescue of AIG helped prevent its counterparties from incurring immediate losses on mortgage-backed securities and other assets they had insured through AIG,” the paper writes

Is it right that Goldman got the money? Almost certainly “yes”

The main reason the the government bailed out AIG was that it did not want to see dozens of financial firms that did business with the large insurer take billions of dollars in losses.

That might have put the global financial system in some jeopardy. Goldman had paid AIG to insure and hedge some of its positions. If AIG collapsed, Goldman and many other firms could have been driven to take write-offs and probably seek new capital. …”

http://www.dailyfinance.com/2009/03/07/huge-amounts-of-aig-bailout-went-to-goldman-sachs/

 

A.I.G. Lists Banks It Paid With U.S. Bailout Funds

A.I.G. also named the 20 largest states, starting with California, that stood to lose billions last fall because A.I.G. was holding money they had raised with bond sales.

In total, A.I.G. named nearly 80 companies and municipalities that benefited most from the Fed rescue, though many more that received smaller payments were left out.

The list, long sought by lawmakers, was released a day after the disclosure that A.I.G. was paying out hundreds of millions of dollars in bonuses to executives at the A.I.G. division where the company’s crisis originated. That drew anger from Democratic and Republican lawmakers alike on Sunday and left the Obama administration scrambling to distance itself from A.I.G. …”

http://www.nytimes.com/2009/03/16/business/16rescue.html

 

 

The Kabuki Theater of AIG Outrage

By Michelle Malkin

“…My syndicated column today looks at the award-winning performances of Washington hypocrites outraged by the AIG entitlement beast they nurtured through four massive bailout infusions. For added comic relief, be sure to read through the entire transcript of Robert Gibbs’ press briefing yesterday. (It’s been sanitized. Just add 25 “ums” during every exchange on AIG and you will ensure accuracy.) This morning, AIG president Edward Liddy will take the hot-seat during a congressional hearing so that his enablers can wag their fingers at him while letting themselves off the hook again. One observer expects “outright talk of nationalization.” The House Financial Services subcommittee hearing begins at 10am Eastern.

As that flogging ritual takes place, hark! Tiny Tim Geithner hears the distant sounds of yonder bus wheels thumping.

On with the show… …”

http://michellemalkin.com/2009/03/18/the-kabuki-theater-of-aig-outrage/

 

Chris Dodd confesses: Yes, I slipped in the AIG bonus protection…’cuz Treasury made me

By Michelle Malkin  

Fall, fall on your sword, ye Purveyor of Hypocritical Indignation.

Via CNN, unscrupulous borrower and No. 1 AIG benefactor Chris Dodd admits that yes, yes, he did support AIG bonus protections before he was against them: …”

http://michellemalkin.com/2009/03/18/chris-dodd-confesses-yes-i-slipped-in-the-aig-bonus-protection/

 

How AIG — read: you and I — are bailing out the world

By Michelle Malkin  

“…Bob Owens keeps his eye on the ball and breaks it down:

Barack Obama’s lack of leadership in a down economy has now hit crisis proportions, as his claimed inability to block millions of dollars in bonuses for executives of bailout recipient AIG has caused even his supporters to turn on him.

But while the ire of Congress and the media focus are on the $165 million that AIG paid out in bonuses to their executives, the president is hoping you won’t notice the $100 billion in taxpayer bailout dollars that AIG paid out to other banks, including $58 billion to foreign banks and $36 billion given to French and German banks alone.

The Obama administration is allowing AIG to bail out the rest of the world with your tax dollars.

So by all means, the president is happy to have you railing at “evil” but relatively small potatoes AIG executive bonuses, as it points your outrage away from his own far more costly executive abuses.

And of course, the re-distributor-in-chief hopes you won’t notice where much of the rest of the AIG bailout cash is being spent.

While $58 billion of your tax dollars — or more accurately, your children’s tax dollars — are being used to pay foreign banks, a substantial portion of that money ($43.5 billion) is being used to pay American banks, including Goldman Sachs, Merill Lynch, Bank of America, Citigroup, Wachovia, Morgan Stanley, AIG International, and JP Morgan. …”

http://michellemalkin.com/2009/03/17/how-aig-read-you-and-i-are-bailing-out-the-world/ 

 

Troubled Asset Relief Program

“…TARP” redirects here. For other uses, see Tarp.

The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions in order to strengthen its financial sector. It is the largest component of the government’s measures in 2008 to address the subprime mortgage crisis.

TARP allows the United States Department of the Treasury to purchase or insure up to $700 billion of “troubled” assets. “Troubled assets” are defined as “(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability; and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress.” [1]

In short, this allows the Treasury to purchase nonliquid, difficult-to-value assets from banks and other financial institutions. The targeted assets can be collateralized debt obligations, which were sold in a booming market until 2007 when they were hit by widespread foreclosures on the underlying loans. TARP is intended to improve the liquidity of these assets by purchasing them using secondary market mechanisms, thus allowing participating institutions to stabilize their balance sheets and avoid further losses.

TARP does not allow banks to recoup losses already incurred on troubled assets, but officials hope that once trading of these assets resumes, their prices will stabilize and ultimately increase in value, resulting in gains to both participating banks and the Treasury itself. The concept of future gains from troubled assets comes from opinion in the financial industry that these assets are oversold, as only a small percentage of all mortgages are in default, while the relative fall in prices represents losses from a much higher default rate.

The Act requires financial institutions selling assets to TARP to issue equity warrants (a type of security that entitles its holder to purchase shares in the company issuing the security for a specific price), or equity or senior debt securities (for non-publicly listed companies) to the Treasury. In the case of warrants, the Treasury will only receive warrants for non-voting shares, or will agree not to vote the stock. This measure is designed to protect taxpayers by giving the Treasury the possibility of profiting through its new ownership stakes in these institutions. Ideally, if the financial institutions benefit from government assistance and recover their former strength, the government will also be able to profit from their recovery.[2]

Another important goal of TARP is to encourage banks to resume lending again at levels seen before the crisis, both to each other and to consumers and businesses. If TARP can stabilize bank capital ratios, it should theoretically allow them to increase lending instead of hoarding cash to cushion against future, unforeseen losses from troubled assets. Increased lending equates to ‘loosening’ of credit, which the government hopes will restore order to the financial markets and improve investor confidence in financial institutions and the markets. As banks gain increased lending confidence, the interbank lending interest rates (the rates at which the banks lend to each other on a short term basis) should decrease, further facilitating lending.[2]

The TARP will operate as a “revolving purchase facility.” The Treasury will have a set spending limit, $250 billion at the start of the program, with which it will purchase the assets and then either sell them or hold the assets and collect the ‘coupons’. The money received from sales and coupons will go back into the pool, facilitating the purchase of more assets. The initial $250 billion can be increased to $350 billion upon the President’s certification to Congress that such an increase is necessary.[3] The remaining $350 billion may be released to the Treasury upon a written report to Congress from the Treasury with details of its plan for the money. Congress then has 15 days to vote to disapprove the increase before the money will be automatically released.[2]. The first $350 billion was released on October 3, 2008, and Congress voted to approve the release of the second $350 billion on January 15, 2009. One way that TARP money is being spend is to support the “Making Homes Affordable” plan that is being implemented as of March 4, 2009, using TARP money by the Department of Treasury. Because “at risk” mortgages are defined as “troubled assets” under TARP, the Treasury has the power to implement the “Making Homes Affordable” plan. Generally, the Plan will provide refinancing for mortgages held by Fannie Mae or Freddie Mac. Privately held mortgages will be eligible for other incentives, including a favorable loan modification for five years.[4]

The authority of the United States Department of the Treasury to establish and manage TARP under a newly created Office of Financial Stability became law October 3, 2008, the result of an initial proposal that ultimately was passed by Congress as H.R. 1424, enacting the Emergency Economic Stabilization Act of 2008 and several other acts.[5][6]

 …”

http://en.wikipedia.org/wiki/TARP

Our Mission at AIG: Repairs, and Repayment

By Edward M. Liddy

“The government rescue of American International Group (AIG) and other financial firms has produced a palpable wave of anger on the part of Americans and a rising public demand for accountability from corporate and government leaders.

The anger is understandable, and I share it. I have been fortunate in more than three decades in business to see firsthand the wealth creation that well-managed American companies bring to their employees and their communities. I have seen the good side of capitalism. But over the past six months, since agreeing to take the reins of AIG and reviewing how it was run in prior years, I have also seen instances of the bad side of capitalism.

Mistakes were made at AIG, and on a scale that few could have imagined possible. The most egregious of those began in 1987, when the company strayed from its core insurance competencies to launch a credit-default-swaps portfolio, which eventually became subject to massive collateral calls that created a liquidity crisis for AIG. Its missteps have exacted a high price, not only for the company and its employees but for the American taxpayer, the federal government’s finances and the global economy. These missteps brought AIG to the brink of collapse and to the government for help. …”

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/17/AR2009031703019.html

 

Tim Geithner interviewed by Rose pt 1 of 6

 

Tim Geithner interviewed by Rose pt 2 of 6

 

Tim Geithner interviewed by Rose pt 3 of 6

 

Tim Geithner interviewed by Rose pt 4 of 6

 

Tim Geithner interviewed by Rose pt 5 of 6

 

Tim Geithner interviewed by Rose pt 6 of 6

 

Related Posts On Pronk Palisades

One Big Awful Mistake America (OBAMA): Veterans Will Now Lead The Fight To Defeat Radical Socialism!

Radical Welfare Socialism Assaults Free Enterprise Capitalism–The “Silent” Majority Responds!

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

Tea Parties Take Off In Texas–Spreading Nationwide–Are You Going To Washington Fair? Millions Celebrate The Second American Revolution–Saturday, July 4, 2009

Operation Family Freedom (OFF): Millions Celebrate Washington Fair, Saturday, July 4, 2009–The Second American Revolution 

President Obama Is Driving The American People Down The Highway to Socialism and Serfdom–Stop The Bus!

The Signed “Stimulus Package” Did Not Include Funding for E-Verify and Border Fence Construction–Less Jobs And Security for American Citizens

Inside the Meltdown: Who Was Withdrawing From Money Market Funds On September 16-18, 2008 and Why?

The Mother of All Bailouts–2 to 3 Trillion Dollars–$2,000,000,000–$3,000,000,000!–Rewarding Greed, Arrogance and Stupidity–Pay for Play!

Pattern Recognition: The Template Is Hitler’s Rise To Power Using National Socialism

Censorship Commissar for AM and Internet Talk Radio–Henry Waxman–The Face of Progressive Liberal Fascism!

President Obama’s–Recovery Accountability and Transparency Board–RAT Board–King Rat’s Chicago Corruption–The Fix is In The Stimulus Bill!

Bad Government Intervention Requires Bad Government Bank-The Road Map Out Of The World Economic Crisis–Stabilize–Stimulate–Strengthen–Simultaneously! 

President Obama’s Sales Pitch–Buy My Government Dependency Package–I Won The Election!–No Sale–The American People Want Their Money Back!

President Barack Obama Peddling The Government Dependency Package (GDP) and Fear Mongering The Raw Deal!

Pelosi’s Porky Pigout Poison Package–Economy Wrecker and Job Destroyer–Have A Blue Christmas 2009! 

BO’s Raw Deal: Obama’s Two Year Recession and Two Year Hyperinflation–Hopeless & Small Change!

Boycott Bailedout Businesses and Banks

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

The Sovereign Wealth Fund Threat: Are Chinese Communists Behind Rush In Passing Bailout Bill?

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

Recession–Recession–Recession–Scaring People–Have A Hot Dog!

It Is Official–The U.S. Economy Has Been In A Recession for 11 Months and Continuing!

Barrack Obama’s Kansas Values–Killing Babies in Cold Blood?

Wealth, Income and Job Creation: Let A 1000 Microsofts Bloom

Read Full Post | Make a Comment ( 4 so far )

Liked it here?
Why not try sites on the blogroll...