From the Right

Observing my upside down America

Posts Tagged ‘Democrats

Is the GOP Irrelevant?

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Irrelevancy. That’s the charge many are lobbing at the GOP. The argument is that it has become pointless, peripheral and extraneous to politics in America.

GOPplanks

The GOP needs new party planks


Critics say it needs to rebuild a respect for civil debate including self-criticism. It must appeal to the youth in America today and must appeal to generations of the future. They charge that the GOP today seems to be stuck in the newspaper and T.V. era, oblivious to the existence of the internet and hand held devices America’s youth have embraced to interact and communicate. The GOP is completely unaware of what occupies the minds of Americans who have a forward-looking vision for America right now – today. The GOP is occupied by too many who are unwilling, as a condition of admission, to sign an oath of allegiance to a set of talking points or party planks upon which a party platform is to be built.

I think I am at the point where I have to agree. Personally, I find it disturbing that the GOP continues to demonstrate such a narrow minded and two-tone palate of policies coupled with a lackluster set of leaders.

On the issue the recently house-passed HR-3962, the GOP has managed to bring forth a bill to address the “problem” of national health care in response to the Democrat’s mammoth 1.2 trillion dollar band aid. At the end of the day, the GOP’s response is still yet another spending program.

OK, maybe we can call it a good start, but only if at the same time, the GOP had advanced a bill which recalled the unused balance of the $787 billion stimulus bill and another bill which cut taxes on business and broke up these mega-banks we now have.

But it’s wishful thinking to expect any vision from this party which does very little to distinguish itself from the DNC. Today, I believe the GOP should be keeping the Democrats off balance, forcing them to justify their ruinous policies on the economy by authoring bills based upon sound and proven ideas, such as cutting taxes.

The crux of the problem are the GOP planks. What are they? Anyone? Beuller?

Look at the oath of the GOP and compare it to the oath the Democrat takes when they join the party. Not much difference. (To be clear, this is not the same as the oath of office. I’m speaking about the oath of the party.)

I believe we should push for a few sound basics for party planks to distinguish the GOP from Democrat Party.

For starters, let’s try “Border”. America’s borders are so wide open you could literally drive a country through it.

Next, maybe we should push to establish English as our nation’s official language as a basis to prevent our local and federal government from spending our tax dollars printing government multilingual forms and local street signs.

Once that’s done, perhaps we should add another plank to deport all illegal aliens we have in the U.S. today. Let the economic chips fall where they will; she will quickly adjust. America’s education, medical, social security other social systems cannot afford to pay for the welfare of another country’s population.

Once here legal aliens are required to learn to use the English language – the official language of the nation.

How about an energy policy unique to the GOP? If we are so willing to spend trillions of dollars to prop up a failing banking system, then we should be equally willing to spend a trillion dollars to

  • hasten the development of Polymer exchange membrane fuel cell (PEMFC) technology
  • upgrade the country’s infrastructure with the necessary hydrogen fueling stations
  • develop fuel cell based postal delivery vehicles for delivery of mail into urban and city areas to hasten arrival of 2nd generation fuel cells to drive down unit costs
  • to recover research and development costs, license and then export the technology to other countries. When it comes to the Middle East, attach an up-charge of significant mass that is required to make transportation by camel look not only like a viable alternative but an attractive one.

These are just a few examples which should highlight the need of the GOP to adopt and then publicize future-looking, sovereignty-protecting, building-for-the-future platform planks.

While we’re doing that, we should purge the system of its RINOs.

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Written by Ben

November 10, 2009 at 11:02 am

The (not so) mainstream media agrees Dems obstructed reform

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International Herald Tribune: “Democratic takeover of Congress was major victory for Fannie and Freddie … Fannie Mae and Freddie Mac, the two mortgage finance giants, which have been recovering from accounting scandals, had faced the possibility of tight new oversight laws pushed largely by Republicans. But some powerful Democrats had resisted, preferring to promote the companies’ housing mission over tighter capital standards and portfolio limits. (International Herald Tribune, 11/8/06)

American Banker: “Democrats Oppose White House plan to strengthen Fannie and Freddie oversight.” In late summer Treasury Secretary Henry Paulson Jr. began an effort to reach an agreement in the Senate, where Democrats oppose a White House-favored provision that would force Fannie and Freddie Mac to slash their mortgage portfolios. (American Banker, 12/1/06)

Origination News: “Until recently, the administration and Sen. Shelby have pushed for limits on the size of the GSE portfolios, which Democrats opposed. Now it appears that Secretary Paulson will insist on language that would allow the new GSE regulator to use systemic risk considerations in determining proper size of the portfolios. But the Democrats see systemic risk as a code word for portfolio limits.” (Origination News, 12/1/06)

Written by Ben

March 22, 2009 at 1:52 pm

Who benefits from this meltdown?

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Since 1989, Rep. Frank has received $42,350 from Fannie Mae and Freddie Mac. (Lindsay Renick Mayer, “Fannie Mae And Freddie Mac Invest In Lawmakers,” Center For Responsive Politics’ “Capital Eye” Blog, www.opensecrets.org)

Since 1989, Senator Reid has received $77,000 from Fannie Mae and Freddie Mac. (Lindsay Renick Mayer, “Fannie Mae And Freddie Mac Invest In Lawmakers,” Center For Responsive Politics’ “Capital Eye” Blog, www.opensecrets.org)

Since 1989, Sen. Dodd has received $165,400 from Fannie Mae and Freddie Mac, more than any other Member of Congress. (Lindsay Renick Mayer, “Fannie Mae And Freddie Mac Invest In Lawmakers,” Center For Responsive Politics’ “Capital Eye” Blog, www.opensecrets.org)

Since 1989, Sen. Carper has received $55,889 from Fannie Mae and Freddie Mac. (Lindsay Renick Mayer, “Fannie Mae And Freddie Mac Invest In Lawmakers,” Center For Responsive Politics’ “Capital Eye” Blog, www.opensecrets.org)

In just four years, Sen. Barack Obama (D-IL) has received $126,349 from Fannie Mae and Freddie Mac, more than any Member of Congress except for Sen. Dodd. (Lindsay Renick Mayer, “Fannie Mae And Freddie Mac Invest In Lawmakers,” Center For Responsive Politics’ “Capital Eye” Blog, www.opensecrets.org)

Since 1989, Sen. John Kerry (D-MA) has received $111,000 from Fannie Mae and Freddie Mac. (Lindsay Renick Mayer, “Fannie Mae And Freddie Mac Invest In Lawmakers,” Center For Responsive Politics’ “Capital Eye” Blog, www.opensecrets.org)

Since 1989, Sen. Hillary Clinton (D-NY) has received $76,050 from Fannie Mae and Freddie Mac. (Lindsay Renick Mayer, “Fannie Mae And Freddie Mac Invest In Lawmakers,” Center For Responsive Politics’ “Capital Eye” Blog, www.opensecrets.org)

Since 1989, House Speaker Nancy Pelosi (D-CA) has received $56,250 from Fannie Mae and Freddie Mac. (Lindsay Renick Mayer, “Fannie Mae And Freddie Mac Invest In Lawmakers,” Center For Responsive Politics’ “Capital Eye” Blog, www.opensecrets.org)

Since 1989, Rep. Rahm Emanuel (D-IL) has received $51,750 from Fannie Mae and Freddie Mac. (Lindsay Renick Mayer, “Fannie Mae And Freddie Mac Invest In Lawmakers,” Center For Responsive Politics’ “Capital Eye” Blog, www.opensecrets.org)

Barney Frank should step down as Chairman of the House Financial Services Committee

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Mr. Frank is perhaps the most guilty of all of those who have worked hard to prevent efforts – beginning as far back as 2003 – to address the flawed policies of Fannie Mae and Freddie Mac which Mr. Frank oversees as Chairman of the House Financial Services Committee.

In 2003, Frank opposed Bush administration and Congressional Republican efforts for the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis. Under the plan a new agency would have been created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry. “These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis,” Frank said. He added, “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

You can read about the GSE meltdown time line here. Try not to blow a gasket or bleed out of your eyeballs when you read what Mr. Frank and his ilk have to say about their management skills and their expert opinions on the matter. They basically tell us to butt-out and to mind our own business.

Written by Ben

September 29, 2008 at 8:10 pm

Republicans appear to some to be reacting to Nancy Pelosi’s Vomit

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On the failure of the U.S. House of Representatives to pass 700 billion bail-out plan.

Opponents said part of the reason for the opposition from Republicans was what they termed a partisan speech by House Speaker Nancy Pelosi, said one GOP source. House Minority Whip Roy Blunt said he thinks Republicans could have provided a dozen more votes had Pelosi not given her speech.

Pelosi had said that Congress needed to pass the bill, even though it was an outgrowth of the “failed economic policies” of the last eight years.

“When was the last time someone asked you for $700 billion?” she asked. “It is a number that is staggering, but tells us only the costs of the Bush administration’s failed economic policies — policies built on budgetary recklessness, on an anything goes mentality, with no regulation, no supervision, and no discipline in the system.”

Here are a few facts Nancy Pelosi should have studied before her ass replaced her brain.

The Bush Administration raised a red flag starting in April 2001. The administration’s 2002 budget request declares that the size of mortgage giants Fannie Mae and Freddie Mac is “a potential problem” because financial trouble in either one of them could cause “strong repercussions in financial markets.”

In 2003 the White House warning about Fannie and Freddie was upgraded to a systemic risk. that could spread beyond just the housing sector.

In the fall of 2003 the Bush Administration was pushing congress hard to create a new federal agency to regulate and supervise Fannie Mae and Freddie Mac both Government Sponsored Enterprises or GSEs. The then Treasury Secretary John W. Snow: “So we need a strong world class regulatory agency to oversee the prudential operations of the GSE’s and the safety and the soundness of their financial activities.” (Snow was nominated as Secretary of the Treasury by President George W. Bush on January 13, 2003 and unanimously confirmed by the US Senate. On May 30, 2003, it was formally announced that Snow would leave this position. On this same day, it was announced that President George W. Bush had nominated Henry Paulson, CEO of Goldman Sachs, to replace Snow. )

But Treasury Secretary John W. Snow was getting a lot of push back from then ranking member and now chairman of the house financial services committee Democratic congressman Barney Frank “Fannie Mae and Freddie Mac are not in any crisis”. In fact Frank said the federal government should be encouraging Fannie and Freddie to do more to get low income families into homes and he believed to many people had a sky is falling mentality. Frank: ” The more people in my judgment exaggerate the threat of safety and — the more people conjure — the possibility of serious financial losses to the tribute which I do not see, I think we see an entity that a fundamentally sound financially, and withstand some of the disaster scenarios and even if there were problems the federal government doesn’t bail them out, but the more protected everything there, then the less I think we see in terms of affordable housing.”

The legislation was blocked

In 2005 Fed chairman Alan Greenspan added his voice on Fannie Mae and Freddie Mac after many leaders admitted major accounting screw ups. Greenspan: “Enabling these institutions to increase in size – and they will once the crisis in their judgment passes – we are placing the total financial system of the future at a substantial risk.” Greenspan added later at another hearing on the topic: “If we failed to strengthen GSE regulation we increase the possibility of insolvency in crisis.” But the two mortgage giants had staunch defenders. Democratic senator Charles Schumer said “I think Fannie and Freddie over the years have done an incredibly good job and are an intrinsic part of making America the best housed people in the world. If you look over the last one — whatever years they’ve done very very good job.”

Senator John McCain cosponsored legislation pushing for regulation delivering a speech on the Senate floor in 2006. McCain: “For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac In the sheer magnitude of these companies in the role they play in the housing market the GSEs need to be reformed without delay.”

Written by Ben

September 29, 2008 at 8:09 pm

Republicans Recognize a Problem When They See It

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This short news report chronicles the events of the meltdown. Notice the Republicans are saying as far back as 2000 “Hey – there’s a problem here” and how Barney Franks (D) and the rest of the Democrats come back with “No, there isn’t. In fact, we want to do more to sell mortgages like these.” You can watch the video here.

Written by Ben

September 29, 2008 at 8:00 pm