Neil Barofsky, a lifetime Democrat, was picked by then-President George W. Bush (on the advise of his Treasury Secretary Henry Paulson) to police how the banks spent the $700 billion in TARP economic stimulus funds that should have helped the United States avert the recession that all Americans now suffer under. Testifying before the Senate Finance Committee on April 20, 2010, Barofsky said: “To declare TARP a success is revisionist history. TARP was supposed to restore lending, and that didn’t happen.”
By Alan Caruba Sunday, June 17, 2012
It has taken three and a half years into Barack Obama’s presidency for most Americansto realize that he has been deliberately destroying America by driving up the nation’s debt and deficit, reducing privately held wealth, forcing millions onto the public dole, undermining its moral structure, and weakening the nation’s reputation internationally..
His latest lie is that “the private sector is doing just fine”, but the numbers tell the whole story and one can find them on an excellent blog, Economic Collapse, that offers seventy examples:
The American Enteprise Institute ^ | January 4, 2012 | James Pethokoukis
Posted on Wednesday, January 04, 2012 10:46:26 PM by AU72
This could be just the beginning. If President Barack Obama’s legally dodgy appointment of Richard Cordray to head the consumer finance agency should stick, it may open the door to more such actions. Here’s Jaret Seiberg of the Washington Research Group:
To us, the most important takeaway from a recess appointment of Cordray is that the President could use this same maneuver to put a housing advocate in charge of FHFA.
Today’s Presidential campaign sounds more like a horse race.
“The horses are entering the starting gate. Jockeys to watch are top-tier picks Romney, Gingrich and Perry, sporting 6-to-1, 5-to-1 and 4-to-1 odds respectively. But there’s a slight delay. Perry’s horse, a Texas stallion, is kicking and the stewards are having a difficult time getting him into the gate.
Unlike an individual or a well-run corporation, government is not motivated by how efficient it can be, but rather by how lucrative it can be for those associated with it, and how those who run the government can stay in power.
Someone who was philosophically opposed to government domination of the housing market wouldn’t perpetuate it by taking one red penny of taxpayer money from Fannie Mae and Freddie Mac, like the former Speaker did, whether he calls himself a historian or a lobbyist. Someone philosophically opposed to government domination of the health care market would never offer up government as the solution to the problem of the uninsured, like the former governor of Massachusetts did, since the problem of the uninsured was created by government’s involvement in the health care market in the first place.
The federal government does not need an efficient manager. That’s a pipe dream based on the noble but flawed premise that government can be made to operate as a business. It cannot. Business is subject to the forces of free choice, supply and demand, and competition. Can you imagine government subjecting itself to the forces of competition? Can you imagine government permitting us to ignore it?
The government’s biggest sacred cow is the Pentagon. The mere thought of reductions in the growth of defense spending has the Washington careerists screaming bloody murder. Yet military expert after military expert, not connected to the Pentagon and not employed in the defense industry, has told us that austerity will force the government to do what Congress lacks the political courage to do. Stated differently, we will keep spending on bases we don’t need, on planes that sit unused in hangars and on military hardware stored all over the world, and not for any national security interest, but simply because a congressman earmarked it – unless we get serious about our future.
A dollar of military spending is not a dollar of military strength, but it is a dollar into the coffers of those who contribute to congressional campaigns. Which is the greater threat to our national security, an impoverished gaggle of Third World revolutionaries 10,000 miles away, or our national debt? The answer is obvious…..
- The Government as Lawbreaker, Again – Judge Andrew Napolitano – Townhall Conservative (gds44.wordpress.com)
- (“Can Congress make legal something that is inherently wrong, and can Congress take a freedom that is a part of our humanity and make its exercise criminal?”) The Government as Lawbreaker, ~ Again Judge Andrew Napolitano (SEE READER COMMENTS) (gunnyg.wordpress.com)
- Judge Andrew Napolitano on the Government’s Unconstitutional Assault on Our Freedom to Travel (reason.com)
- Time To Take Out the Meat Axe (lewrockwell.com)
- The government as lawbreaker, again ~ Judge Andrew Napolitano (gunnyg.wordpress.com)
How Paulson Gave Hedge Funds Advance Warning … After a perfunctory discussion of the market turmoil, the fund manager says, the discussion turned to Fannie Mae and Freddie Mac. Paulson said he had erred by not punishing Bear Stearns shareholders more severely.
Busted: Proof Positive That Gingrich Supported Healthcare Mandates
Posted on Sunday, November 20, 2011 2:15:15 AM by Fred
As Newt Gingrich takes his turn as the GOP flavor of the week, all that baggage he carries is beginning to be opened, unpacked and examined like a tourist going through customs on a slow day at the airport.
The past few days have shined a light on Newt’s relationship with Freddie Mac and Fannie Mae, the quasi-governmental agencies that Gingrich has been hammering for their role in the nation’s mortgage meltdown. Yet, it turns out that Gingrich’s consulting firm accepted a sum well in excess of one million dollars from these same agencies to push their agenda with his Republican buddies on the Hill.