Code Pink Gets Taken to School

The Code Pink moonbats were given a lesson (video above) on civility and the responsibilties that come wth rights to free speech by the Iraqi ambassador after they disrupted his press conference. As they called for the release of the assailant of a sitting U.S. President, he chose to show far more courage than most American politicians by confronting them directly.

Beyond the obvious ironies, it's nice to see these Anti-American, narcissistic brats publicly exposed for the fools they are.

More at Hot Air

Bush Backs $25 Billion To Auto Co.'s

Let's face it. Other than tax cuts, GW Bush has been terrible on economic issues, especially spending. Now he advocates throwing good money after bad with a $25 Billion loan to the Big Three. That's Our money folks.

AP- The White House on Friday threw its support behind a plan to speed release of $25 billion in existing loans to the Big Three automakers but rejected a Democratic proposal to use money from a financial bailout to help the troubled industry

The private sector wont put their money behind these losers for good reason. Their antiquated union contracts make them structurally uncompetitive. Unless a top to bottom restructuring of US automakers is included as a requirement of these loans then all we're doing is delaying the inevitable.

Government bailouts by definition are fraught with moral hazards which in this case has to do with purely political considerations rather than good business sense. This insanity is about preserving the status-quo of unsustainable union contracts. It's also about fear of paying the price of failure that must go hand in hand with success in a free market economy.

The unions have bought off the Democrats in this regard but Republicans shouldn't go along. Bankruptcy will force these companies to re-organize in a more efficient and competitive manner or have their assets sold to better run companies.

Let the private market decide what to do with these private companies. We will all be better off and the taxpayers wont pay the bill to prop up those that deserve and need to fail.

Secret Orders Let Us Kill the Enemy!

Does anyone have a problem with this?

WASHINGTON — The United States military since 2004 has used broad, secret authority to carry out nearly a dozen previously undisclosed attacks against Al Qaeda and other militants in Syria, Pakistan and elsewhere, according to senior American officials.

Isn't that exactly what G.W. Bush said we were going to do and everyone was on board with it? We as a country vowed in 2001 that AQ would have no safe haven and that any country that harbored them was our enemy as well. There were "Huzzahs!" all around.

Do we want to wait for another 9/11 plot to come out Syria or Somalia as it did in Afghanistan? Or do we want kill these cowards wherever they are. And is anyone seriously suggesting that these governments didn't know AQ was operating within their borders?

The anti-American leftist media is reporting this revelation as if it's a shocking violation of...something or other. I see it as a comforting confirmation that we're allowing our military to do its job. How long that will last remains to be seen.

Terrorists For Mc'Cain?

Nicholas Kristoff puts forth the ridiculous notion that Al-Qaeda endorses Mc'Cain and uses as evidence a comment on a message board at an Islamo-Fascist Web Site. Well, that proves it then!

That would put them at odds with all the other thugs and psychopaths that have endorsed Obama. That group of solid Citizens of The World includes, but is not limited to: Hamas, Kim Jong Il, Fidel Castro, Louis Farrakhan, Moammar Qadafi, William Ayers, Jeremiah Wright, FARC and The New Black Panther Party.

Kristoff says that a Mc'Cain Presidency would just make people angry, whereas an Obama Presidency will convince 100 million or so extremists to disown their divine belief in a world wide caliphate and the slaughter or subjugation of all who would oppose them:

"An American president who keeps troops in Iraq indefinitely, fulminates about Islamic terrorism, inclines toward military solutions and antagonizes other nations is an excellent recruiting tool. In contrast, an African-American president with a Muslim grandfather and a penchant for building bridges rather than blowing them up would give Al Qaeda recruiters fits."

Yeah, that's it. Kill em' with kindness. That will teach them! Killers that blow up civilians indiscriminately, behead "infidels" on the Internet and murder over cartoons are always open to "building bridges". Then they'll hang you from them.

And the 11,000+ attacks these savages have committed worldwide since 9/11 were because George Bush "fulminates about Islamic terrorism", as if denouncing Barbarism creates more Barbarians. Obama could just ignore the problem as Bill Clinton essentially did. That worked out well.

Kristoff and his pacifist ilk seem immune from the lessons of history. Tyrants and bullies always view appeasement as weakness. Neville Chamberlain learned that the hard way and Kristoff is determined to as well. This enemy views the destruction of western culture as a divine calling and no amount of feel good nonsense will change their mind. Although when it comes to American culture Obama...no Al-Qaeda...no wait a minute. Who were we talking about?

Don't Blame Bush for This One

The White House has issued a timeline of its efforts to reign in Fannie Mae and Freddie Mac. They were blocked or ignored until it was too late by a Democrat Party (and some cowardly Republicans) more interested in class warfare and racial politics than doing their job:


2001
April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity."

2002
May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)

2003

January: Freddie Mac announces it has to restate financial results for the previous three years.

February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that "although investors perceive an implicit Federal guarantee of [GSE] obligations," "the government has provided no explicit legal backing for them." As a consequence, unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market. ("Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO," OFHEO Report, 2/4/03)

September: Fannie Mae discloses SEC investigation and acknowledges OFHEO's review found earnings manipulations.

September: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.

October: Fannie Mae discloses $1.2 billion accounting error.

November: Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)

2004

February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore…should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)

February: CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)
June: Deputy Secretary of Treasury Samuel Bodman spotlights the risk posed by the GSEs and called for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

2005: April: Treasury Secretary John Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America… Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)

2007

July: Two Bear Stearns hedge funds invested in mortgage securities collapse.

August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, The White House, 8/9/07)

September: RealtyTrac announces foreclosure filings up 243,000 in August – up 115 percent from the year before.

September: Single-family existing home sales decreases 7.5 percent from the previous month – the lowest level in nine years. Median sale price of existing homes fell six percent from the year before.

December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, The White House, 12/6/07)


2008
January: Bank of America announces it will buy Countrywide.

January: Citigroup announces mortgage portfolio lost $18.1 billion in value.

February: Assistant Secretary David Nason reiterates the urgency of reforms, says "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)

March: Bear Stearns announces it will sell itself to JPMorgan Chase.

March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)

April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)

May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.

** "Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)

** "[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)

** "Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)

June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)

July: Congress heeds the President's call for action and passes reform of Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.

Democrat Fiddling While Money Burned

Fox News has put together a timeline that shows us who saw the financial meltdown and tried to do something about it. It also shows us who stood in the way.

If Barney Frank, Chris Dodd, Chuck Schumer et al had any shame, they would resign immediately. Instead they're asking us to trust them to fix a disaster they created and refused to recognize until it was too late.

At the very least they should get out of the way and just vote yes on whatever plan the responsible, competent adults decide is best to clean up their mess.

Moonbat Theater

The Angry Left is angry because Bush called them the Angry Left. This follows the same logic as the violent Muslim Fascists who threaten to kill anyone who calls them violent.

Dumb Reporter Gets a Lesson on Liberty

President Bush shot down the entire premise of a media moron question from someone who was either not around or drunk during the 70's:


Q Mr. President, understanding what you say about energy supplies being tight and the debate over energy, which has gone on for years and will continue long through the campaign and into the next administration -- one thing nobody debates is that if Americans use less energy the current supply/demand equation would improve. Why have you not sort of called on Americans to drive less and to turn down the thermostat?

(He could also put on a stupid cardigan sweater and berate us for our malaise a la Jimmy Carter. Or maybe impose price controls and a windfall profits tax. That worked out well, right? )

THE PRESIDENT: They're smart enough to figure out whether they're going to drive less or not. I mean, you know, it's interesting what the price of gasoline has done, is it caused people to drive less. That's why they want smaller cars, they want to conserve. But the consumer is plenty bright, Mark. The marketplace works.
Secondly, we have worked with Congress to change CAFE standards, and had a mandatory alternative fuel requirement.
So no question about what you just said is right. One way to correct the imbalance is to save, is to conserve. And as you notice my statement yesterday, I talked about good conservation. And people can figure out whether they need to drive more or less; they can balance their own checkbooks.

Q But you don't see the need to ask -- you don't see the value of your calling for a campaign --

(Translation: Mr. President, don't you see that the people are a bunch of ravenous stupid children? Obviously I and the rest of the anointed can be trusted to think for ourselves and do the right thing, but surely you're not -snort- suggesting that the masses should be allowed to do whatever they want regardless of what we no know to better for them and the country, are you?)


THE PRESIDENT: I think people ought to conserve and be wise about how they use gasoline and energy. Absolutely. And there's some easy steps people can take. You know, if they're not in their home, they don't keep their air-conditioning running. There's a lot of things people can do.
But my point to you, Mark, is that, you know, it's a little presumptuous on my part to dictate to consumers how they live their lives. The American people are plenty capable and plenty smart people and they'll make adjustments to their own pocketbooks. That's why I was so much in favor of letting them keep more of their own money. It's a philosophical difference: Should the government spend their money, or should they spend their own money? And I've got faith in the American people.
And as much as I regret that the gasoline prices are high -- and they are -- I also understand that people are going to make adjustments to meet their own needs. And I suspect you'll see, in the whole, Americans using less gasoline. I bet that's going to happen. And in the meantime, technologies will be coming on the market that will enable them to drive and save money, compared to the automobiles they're using before. And as you notice, the automobile industry is beginning to adjust here at home as consumer demand changes. And the great thing about our system, it is the consumer that drives our system; it's the individual American and their collection that end up driving the economy.