The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

Archive for April 4th, 2009

Wall Street Journal catches up with IUSB Vision: Obama wants to control the banks & that is why he is refusing to take back TARP funds.

Posted by iusbvision on April 4, 2009

We told you this was the plan HERE. We gave you the evidence and then with updates the evidence piled on. Now the Wall Street Journal has finally said it. This is serious impeachment territory we are entering folks and that is not something this writer says lightly. Why is this impeachment territory? The president and willing members of his party are using this crisis to entrench and extend their power while the American people are suffering. What a violation of  the public trust:

Obama Wants to Control the Banks

There’s a reason he refuses to accept repayment of TARP money.

By STUART VARNEY

I must be naive. I really thought the administration would welcome the return of bank bailout money. Some $340 million in TARP cash flowed back this week from four small banks in Louisiana, New York, Indiana and California. This isn’t much when we routinely talk in trillions, but clearly that money has not been wasted or otherwise sunk down Wall Street’s black hole. So why no cheering as the cash comes back?

My answer: The government wants to control the banks, just as it now controls GM and Chrysler, and will surely control the health industry in the not-too-distant future. Keeping them TARP-stuffed is the key to control. And for this intensely political president, mere influence is not enough. The White House wants to tell ’em what to do. Control. Direct. Command.

It is not for nothing that rage has been turned on those wicked financiers. The banks are at the core of the administration’s thrust: By managing the money, government can steer the whole economy even more firmly down the left fork in the road.

If the banks are forced to keep TARP cash — which was often forced on them in the first place — the Obama team can work its will on the financial system to unprecedented degree. That’s what’s happening right now.

Here’s a true story first reported by my Fox News colleague Andrew Napolitano (with the names and some details obscured to prevent retaliation). Under the Bush team a prominent and profitable bank, under threat of a damaging public audit, was forced to accept less than $1 billion of TARP money. The government insisted on buying a new class of preferred stock which gave it a tiny, minority position. The money flowed to the bank. Arguably, back then, the Bush administration was acting for purely economic reasons. It wanted to recapitalize the banks to halt a financial panic.

Fast forward to today, and that same bank is begging to give the money back. The chairman offers to write a check, now, with interest. He’s been sitting on the cash for months and has felt the dead hand of government threatening to run his business and dictate pay scales. He sees the writing on the wall and he wants out. But the Obama team says no, since unlike the smaller banks that gave their TARP money back, this bank is far more prominent. The bank has also been threatened with “adverse” consequences if its chairman persists. That’s politics talking, not economics.

Think about it: If Rick Wagoner can be fired and compact cars can be mandated, why can’t a bank with a vault full of TARP money be told where to lend? And since politics drives this administration, why can’t special loans and terms be offered to favored constituents, favored industries, or even favored regions? Our prosperity has never been based on the political allocation of credit — until now.

Which brings me to the Pay for Performance Act, just passed by the House. This is an outstanding example of class warfare. I’m an Englishman. We invented class warfare, and I know it when I see it. This legislation allows the administration to dictate pay for anyone working in any company that takes a dime of TARP money. This is a whip with which to thrash the unpopular bankers, a tool to advance the Obama administration’s goal of controlling the financial system.

After 35 years in America, I never thought I would see this. I still can’t quite believe we will sit by as this crisis is used to hand control of our economy over to government. But here we are, on the brink. Clearly, I have been naive.

 

Posted in Chuck Norton, Government Gone Wild, Mortgage Crisis, Obama and Congress Post Inaugration | Leave a Comment »

The Democrats Were Right

Posted by iusbvision on April 4, 2009

By unknown author via email:

I hate to admit it. My Democrat liberal friends were right. They told me if I voted for McCain, all sorts of bad things would happen. Well, I voted for McCain anyway . . . and they were right.They told me if I voted for McCain, the nation’s hope would deteriorate, and sure enough there has been a 20 point drop in the Consumer Confidence Index since the election, reaching a lower point than any time during the Bush administration.

They told me if I voted for McCain the US would become more deeply embroiled in the Middle East, and sure enough tens of thousands of additional troops are scheduled to be deployed into Afghanistan

They told me if I voted for McCain, that the economy would get worse and sure enough, unemployment is approaching 8.8% and the President’s many gloom and doom announcements and the new stimulus packages have sent the stock market lower than at any time since 9-11.

They told me if I voted for McCain, we would see more “crooks” in high ranking positions in Federal government and sure enough, several recent cabinet nominees revealed resumes of bribery, immigration violations and tax fraud or tax evasion.

They told me if I voted for McCain, our relations with foreign countries would be worse, and sure enough China has questioned investing in more US treasuries, France and Germany have rejected our President’s suggestions that they spend more money to save the world economy, Russia has apparently forced us to abandon our defense missile programs in Poland and Czech Republic, we snubbed Great Britain’s Prime Minister Gordon Brown when he visited Washington (and sent him packing with a bust of Winston Churchill that had graced the Oval Office), the State Department shuffled the visit of the president of Brazil to avoid a conflict with St. Patrick’s Day (and spelled his name wrong in the official announcement), the President scuttled the pending free trade agreement with Colombia (an important ally next to Chavez’s Venezuela), Mexico imposed tariffs on $2.4 billion of American products in retaliation for our breach of the North America Free Trade Agreement, and Iran is getting ever close to making a nuclear bomb. It’s a good thing we’re chumming up to Syria.

They told me if I voted for McCain, that the moguls of industry would increase their salaries and bonuses at the expense of the little people. And sure enough, companies like Merrill Lynch and AIG and Fannie Mae have used the bailout money to pay record bonuses to the very executives who drove those companies into the ground.

They told me if I voted for McCain that innocent children would die, and sure enough, the President has lifted the ban on federal funding of abortion and the ban on using federal funds for research on embryonic stem cells, so many more innocent children will die.

They told me if I voted for McCain, the civil rights of Americans would be put in jeopardy. And sure enough, the Congress is about to pass the misnamed “Employee Free Choice Act” which will deprive workers of the secret ballot in union elections and the President wants to institute a civilian national security force to spy on Americans.

Well, I ignored my Democrat friends, voted for McCain, and they were right . . . all of their predictions have come true.

Posted in Campaign 2008, Chuck Norton, Obama and Congress Post Inaugration | Leave a Comment »

Iowa finds a right to gay marriage in the Constitution that eluded everyone else for 150 years.

Posted by iusbvision on April 4, 2009

Brian Sikma at Hoosier Access:

When traditional marriage supporters advocated for a state marriage amendment in 2008, Speaker Pat Bauer argued that such a constitutional amendment was unnecessary and redundant in light of Indiana’s existing state law.  Proponents of the amendment responded by saying that the same judicial reasoning that allowed courts in Massachusetts and elsewhere to challenge the constitutionality of marriage laws could be used by Indiana courts.  The Iowa Supreme Court’s decision to create a constitutional right to same-sex marriage and impose that new definition on the state proves the Speaker wrong, and marriage supporters right.

snip…

Although this session of the General Assembly failed to act on a marriage amendment, with Senate Judiciary Committee Chairman Richard Bray (R) being responsible for his committee’s failure to hear the matter in the Senate, the Iowa ruling will hopefully spur legislative leaders to action next session.

We posted a brilliant legal argument against this when activist Connecticut judges decided to change the law just because they wanted to HERE; it is a great read.

This problem goes way beyond marriage and this kind of activity has consequences that those who support activist rulings could soon regret. So a simple majority of judges on one court changed the legal definition of marriage over that of the legislature and the people. If actions like this can go unanswered, a simple majority of judges can do anything; they could even redefine murder as “picking your left nostril on a Tuesday”.

How is this bad for the left? Well what if conservative judges decide to abandon their usual philosophy of judicial restraint and become conservative activist judges who will invent law at a whim? Imagine all of the fun they could have with your agenda? This is why judicial activism is bad, because it progresses and progresses to the point where we have judicial tyranny. Now activist judges are ruling to over rule legal treaties and other laws. Some are even butting into presidential war powers. Eventually the other two branches are going to have to push back by stripping the lower courts jurisdiction.

As far as gay marraige is concerned, thiswriter is opposed to creating group constotutional rights out of this air. The Founders never intended or approved of such things so no case can be made that the Iowa or Federal Constitutions framers ever intended this.

To put it in simple terms, there is no right to marriage period, heterosexual or otherwise and there never has been. Rulings like this cloud the very nature of rights and makes them easier to violate in the future.

As this writer has stated before:

Rights are not in reference to groups, they are in reference to individuals. For Example – if I have a right to get married, if no one will marry me than my right to be married has been violated.

What is the contemporary meaning of marriage? It is a CONTRACT between a man and a woman and the State, and in some circumstances with the said couples deity.

That contract involves a marriage license. What is a licence? A license represents the sanction of the people of that state, or that states legislative majority if you will.

The simple fact is that the legislative majority decides by majority vote who gets their sanction and who does not and under what circumstances. There have been many such instances where a marriage license has been denied to straight white couples by states, so where were all of you saying that their constitutional rights were violated?

Would you FORCE the majority to give consent and sanction against their will? That seems to be what many are advocating. So much for Democracy and informed consent.

There is no more a right to marry than their is a right to have a Class-A drivers licence.

There is no genuine equal protection issue, because a straight man may get a state marriage license under most circumstances to marry a female and so may a gay man. A straight man can no more get a marriage license to marry another man than a gay man can. The law treats the gay man and the straight man exactly the same.

 

Posted in Chuck Norton, Culture War, Government Gone Wild | 5 Comments »

WSJ: Obama’s top advisors earned millions from companies with government business.

Posted by iusbvision on April 4, 2009

I am so sure it is alllllll just a total coincidence and I am SO sure that the millions Obama’s advisors received had no sway on their judgment at all.

WSJ:

WASHINGTON — Top White House economic adviser Lawrence Summers received about $5.2 million over the past year in compensation from hedge fund D.E. Shaw, and also received hundreds of thousands of dollars in speaking fees from major financial institutions.

A financial disclosure form released by the White House Friday afternoon shows that Mr. Summers made frequent appearances before Wall Street firms including J.P. Morgan, Citigroup, Goldman Sachs and Lehman Brothers. He also received significant income from Harvard University and from investments, the form shows.

In total, Mr. Summers made a total of about 40 speaking appearances to financial sector firms and other places, with fees totaling about $2.77 million. Fees ranged from $10,000 for a Yale University speech to $135,000 for an appearance paid for by Goldman Sachs & Co.

So when the government chooses winners and loosers as far as who to help and who to blow off, who do you think will get a lil extra monetary, regulatory or legislative help??

Now look at this list. How long are we going to take this folks? When they aren’t in power they are lobbying the government and vice versa:

In addition to the Summers form, the White House released financial disclosure material for other top aides.

David Axelrod, the president’s top political advisor, reported in his form that he will get $3 million over the next five years from the sale of his two media consulting firms, ASK Public Strategies, LLC and AKP&D Message and Media. In addition, Mr. Axelrod took a salary of $896,776 last year from AKP&D and reported $651,914 in partnership income from the two companies.

In total, Mr. Axelrod reported assets valued between $6.9 million and $9.5 million. Mr. Axelrod’s clients were mostly political campaigns, including those of Rep. Patrick Kennedy, New York Attorney General Andrew Cuomo, and Chicago Mayor Richard M. Daley. He also reported receiving money from large corporations such as AT&T Inc., Comcast Corp. and the nuclear energy company Exelon Corp.

National Security Adviser James Jones reported $900,000 in salary and bonus from the U.S. Chamber of Commerce as well as director fees from a number of corporations. He received, for example, $330,000 from Boeing Corp. and $290,000 from Chevron Corp.

Gregory Craig, White House Counsel, reported receiving a salary of $1.7 million last year from Williams & Connolly, the high-powered Washington law firm where he had been a partner since 1999.

White House Social Secretary Desiree Rogers collected a $350,000 salary from Allstate Financial as president of the social networking division, as well as $150,000 in board fees from Equity Residential, a real estate investment trust in which she also holds at least $250,000 in stock. She also collected $20,000 in board fees from Blue Cross Blue Shield. Other assets reported in her checking account, stock investments, and mutual funds total at least $2 million.

Valerie Jarrett, assistant to the president for intergovernmental affairs, lists a $300,000 salary and $550,000 in deferred compensation from The Habitat Executive Services, Inc., in Chicago.

Ms. Jarrett also disclosed payments of more than $346,000 for service on boards of directors that reflect her political ties, and work in Chicago real estate and community development.

She was paid $76,000 last year for service as a director of Navigant Consulting, Inc. a Chicago-based global consulting group with governmental clients. She received $146,600 for service on the board of USG Corporation, a building materials manufacturer, and $58,000 to serve on the board of Rreef American REIT II, a real estate investment trust based in San Francisco. The Chicago Stock Exchange, Inc., paid her $34,444 to serve on its board.

Deputy National Security Advisor Tom Donilon earned $3.9 million as a partner at the law firm of O’Melveny & Myers LLP, where his clients include Citigroup, Inc., Goldman, Sachs & Co., and Obama fundraiser and heiress Penny Pritzker.

Carol Browner, assistant to the president for energy and climate change, disclosed earnings of between $1 million and $5 million from lobbying firm Downey McGrath Group, Inc., where her husband, Thomas Downey, is a principal. She states $450,000 in “member distribution” income, plus retirement and other benefits from The Albright Group, a lobbying firm whose principals include former Secretary of State Madeline Albright.

Some White House aides received considerably more modest compensation.

Director of Domestic Policy Council Melody Barnes reported modest retirement investments and $88,000 in income from her work on the Obama campaign and transition team, including $30,000 in consulting fees from Washington, D.C.-based firm The Raben Group.

Director of the White House Office of Urban Affairs Adolfo Carrion reported no assets outside of his $160,000 salary earned as borough president of the Bronx and retirement funds for him and his wife.

Patrick Gaspard, Director of the Office of Political Affairs, reported no assets aside from income of $198,000 combined from the SEIU International Union and Mr. Obama’s presidential campaign. His listed liabilities are $10,000 to $15,000 in credit-card debt and $15,000 to $20,000 in student loan debt.

Posted in 2012, Chuck Norton, Obama and Congress Post Inaugration | Leave a Comment »

The story of the Nigerian teacher who moved to America only to have her black students call her an “OREO”

Posted by iusbvision on April 4, 2009

Quinn & Rose: The story of the teacher who moved to America from Nigeria only to be called an “OREO” by her black students. This story reveals the myth of leftist white privilege. And the story of the Czech doctor who fled Europe to escape socialism and is very worried about America’s charge toward socialism.

Remember how we told you that capital goes where it is treated better? The Nigerian family has a teacher and a doctor. They left to come to America. The Czech family did the same thing. If we socialize capital will flee the country in much the same way.

Posted in Chuck Norton, Culture War, Economics 101, Leftist Hate in Action | Leave a Comment »

Britain’s Dan Hannan, “Nationalized healthcare has made us iller”. Speaks out on G20 and Stimulus

Posted by iusbvision on April 4, 2009

Hannan on the British National Health Service: “Nationalized healthcare has made us iller”

This is a brilliant and accurate explanation of the causes of the current crisis and the solutions are hurting us more.

Hannan with heavy sarcasm:

Just what we need to stimulate growth then, eh? More dirigisme, more red tape, more state control, more centralisation. And the markets have risen. Will you never learn, boys?

Recent history in Europe and the US has shown that doing nothing would have been better than what we have done, but smart people came up with ideas such as lowering the corporate income tax, buying up bad mortgage loans to renegotiate them with home owners, forgiving one years worth of student loan payments, forgiving the federal income tax for 9 months etc. These are ideas that would have injected big cash into the economy now. Only 23% of the stimulus was even designed to be spent before the end of 2010. The government spends money for political reasons, whereas citizens and families spend money and pay off debt for economic reasons.

Posted in Chuck Norton, Energy & Taxes, Health Law, Obama and Congress Post Inaugration | 2 Comments »

Dan Hannan on BBC Media Bias

Posted by iusbvision on April 4, 2009

After American television, the BBC’s bellicosity is quite a shock

By: Daniel Hannan at Apr 3, 2009

I suppose this is what it must feel like to be a Leftie on the BBC. You’re listened to politely, you’re allowed to develop your arguments, your assertions are not automatically greeted by incredulous leers.

For the past week, I’ve been doing radio and television interviews in numerous Anglosphere countries. The presenters aren’t sycophantic (well, alright, some of the ones on Fox News seem pretty pleased to see me); but neither are they belligerent. They start from the premise that, if you’ve bothered to have someone on your show, you might as well let him make his point. They don’t ask a question and then interrupt before you’ve started answering.

You start getting used to it after a while, and going back to the Beeb is quite a shock. My local BBC television news in the South East asked me such questions as “aren’t you just a nasty old Tory” and “Haven’t you got anything positive to say?”

On balance, I think I prefer the BBC approach: undeferential, savage, Swiftian – in keeping, in short, with our national character. But it would be nice if, just occasionally, they treated Lib Dems and Euro-integrationists this way.

Posted in Chuck Norton, Journalism Is Dead | 1 Comment »

Fannie Mae and Freddie Mac paying $210 million in bonuses with your money and no outrage why…..

Posted by iusbvision on April 4, 2009

…bacause Fannie Mae and Freddie Mac kick back huge amounts of money to lobbyists and Democrats its silly.

Fannie Mae and Freddie Mac, the two corrupt government sponsored mortgage enterprises that were the lion share cause of the global economic meltdown will pay out $210 million in bonuses with your money.

As we reported earlier, Fannie and Freddie were used to launder hundreds of millions of dollars back to mostly partisan Democratic groups and politicians which is why the Democrats blocked any meaningful mortgage reform since 2001.

Posted in 2012, Big Bizz Loves Big Govt, Chuck Norton, Economics 101, Journalism Is Dead, Mortgage Crisis, Obama and Congress Post Inaugration | 2 Comments »

Krauthammer: Obama’s European Comments “Disgraceful”

Posted by iusbvision on April 4, 2009

This is one reason why our presidents need to have a keen understanding of history. When he doesn’t mistakes like this happen.

Krauthammer in Friday’s Washington Post:

Five minutes of explanation to James Madison, and he’ll have a pretty good idea what a motorcar is (basically a steamboat on wheels; the internal combustion engine might take a few minutes more). Then try to explain to Madison how the Constitution he fathered allows the president to unilaterally guarantee the repair or replacement of every component of millions of such contraptions sold in the several states, and you will leave him slack-jawed.

In fact, we are now so deep into government intervention that constitutional objections are summarily swept aside. The last Treasury secretary brought the nine largest banks into his office and informed them that henceforth he was their partner. His successor is seeking the power to seize any financial institution at his own discretion.

Posted in 2012, Chuck Norton, Obama and Congress Post Inaugration | Leave a Comment »

Levi Johnston goes on Tyra Banks show. Reveals intimate sexual details about Bristol.

Posted by iusbvision on April 4, 2009

Talk about sleaze. Levi Johnston has gone from “just another teen who used bad judgement” to full blown scumbag. Not a word we like to use, but in this case it is warranted.

Levi went on national television and Tyra Banks had him talking about details that no one with half a brain would say on television. It is obvious in the video that Levi is not very bright even for an 18 year old. Of course, while most of the blame goes to Levi for letting Tyra Banks pay him to come on the show, it does show what a bottom feeder Tyra Banks is. Levi’s mother has been arrested for illegal drugs. Did Levi’s mother put him up to going on the show for money?

People Magazine had this to day with the Governor’s reaction:

After taking about sex on The Tyra Banks Show, Johnston – the 18-year-old father of Bristol Palin’s baby – was hit with a blistering response from Bristol’s mother, Alaska Gov. Sarah Palin.

“Bristol did not even know Levi was going on the show. We’re disappointed that Levi and his family, in a quest for fame, attention, and fortune, are engaging in flat-out lies, gross exaggeration, and even distortion of their relationship,” says the statement from the Palin family rep.

“Bristol’s focus will remain on raising Tripp, completing her education, and advocating abstinence,” the statement continues. “It is unfortunate that Levi finds it more appealing to exploit his previous relationship with Bristol than to contribute to the well being of the child.”

The statement ends, saying, “Bristol realizes now that she made a mistake in her relationship and is the one taking responsibility for their actions.”

 

I an confident that Hotair.com speaks for millions on this one:

If I were her, I’d be at the courthouse on Monday filing for child support to get whatever piece she can of the dirty money Tyra Banks paid this kid to tell her things like whether Palin knew they were having sex or not. Stay classy, dad.

The child should get every dime.

Posted in Chuck Norton, Culture War, Other Links, Palin Truth Squad | 2 Comments »

Phoenix Police Raid Homes of Blogger & Officer who Spoke Out.

Posted by iusbvision on April 4, 2009

Dirty cops is never a fun thing to report about, but it has to be done because police are usually sources for reporters and reporters do not want to burn those sources even if the cops are bad. That is one of the reason who we report on these stories.

The Phoenix Police Department raided the homes of a blogger and an officer of the department who spoke out. They took all of their computers and equipment and in an effort to find out who is leaking apparently accurate information and documents to them that the police department has found highly embarrassing. One of the documents obtained by Channel 5 News is an email from a high ranking police officer saying that they need to give some payback against the officer who spoke out against them.

The blogger is filing a civil rights lawsuit against the police department.

Channel 5 Pheonix Video Link HERE:

Police Raid Homes Of Department Critics

Peter Busch
Reporter, KPHO.com
  PHOENIX — They spoke out against the city’s top cops. Now, two Phoenix men have been slapped with simultaneous search warrants.

One of them is a 13-year veteran of the police department..

Officer Dave Barnes helped shine a light on cases where the crime lab either chose not to test, or delayed testing of key pieces of evidence.

E-mails show that for the past year and a half, department officials have threatened to retaliate.

“Mark my words, if Dave is dealt with, others will think twice about lab bashing,” wrote Assistant Chief Tracy Montgomery in an e-mail dated Oct. 16, 2007.

A Phoenix police representative declined to comment on why Barnes’ home was searched by a team of detectives last week.   …   The other search warrant was on the house of a Valley man who runs a Web site critical of the Phoenix Public Safety Manager Jack Harris.

“They’re looking for any and all information about cops, good cops in Phoenix who give us information about the wrongdoings of Jack Harris and people in his management team,” said the man who asked to be identified only as Jeff.

Jeff says almost all the tips for his Web site, BadPhoenixCops.com, come from anonymous sources, and he doesn’t know if Dave Barnes is one of those sources.

Posted in Campus Freedom, Indoctrination & Censorship, Chuck Norton, Government Gone Wild | Leave a Comment »