Massachusetts woke up earlier this year and reclaimed “The Kennedy” seat for the people when they voted for Scott Brown. Now they have an even better choice in Sean Bielat to retire one of the main reasons for the financial collapse which started with the housing bubble created by the Dems’ Community Reinvestment Act in 1977 and continued with the House Financial Services oversight by 30 year career politician, Barney Frank. Mr. Frank, by the way, has absolutely no private sector or business experience at all; none, nada, zip. How does a guy that knows nothing about how a business actually survives and thrives, become the chairman of one of the most influential, (if not the most influential), committees in Congress? How?
I don’t think that Fannie and Freddie are financially insolvent. I don’t think they need large bailouts. – Barney Frank, 2008
and my personal favorite:
I doubt that Treasury will write a check to Fannie and Freddie – 2008
Not only has the Treasury written $148 billion in checks, but on December 25th, 2009 (Merry Christmas!), the Treasury lifted the $400 billion dollar cap for these two mortgage giants allowing them unlimited funding. The worst case scenario for the bailout of Fannie and Freddie is $1 TRILLION.
Barney has been the Chairman of the House Financial Services Committee since 2007 which oversees the financial services industry in it’s entirety; housing, banking, investment, securities and insurance. Nobody could be this stupid, and from everything I have seen of Mr. Frank, he is one of the most intelligent people in Congress which bodes darkly for us. A service and conflict record of an employee in the private sector this lacking in judgement would beg for dismissal. Massachusetts now has a choice; may they choose wisely.
May I introduce to my readers the constitutional candidate (with a business background) that is giving Barney the first competition he has felt in more than two decades; Sean Bielat.
I do believe that Sean’s Wharton MBA sheepskin trumps Barney’s Harvard law degree when it comes to fixing the economy, and we all know that ‘it’s the economy stupid!’.
Program Manager, iRobot Corporation. Led $100 million, 100 person business line providing life-saving defense robots used to destroy roadside bombs in Iraq and Afghanistan
Chairman, NATO Industrial Armaments Group. Led an international team studying the potential for use of advanced reconnaissance technology in urban warfare
Management Consultant, Mckinsey & Company
Lieutenant, U.S. Marine Corps (active duty)
Sean and his wife are residents of Brookline, MA and recently had their first child, Theo. They are members of St. Mary of the Assumption Catholic Church in Brookline. Sean currently works as an independent consultant and serves as an officer in the Marine Corps Reserve.
Sean worked his way through college and graduate school, aided by scholarships and the GI Bill. He now holds a Master in Public Policy from the Harvard Kennedy School of Government, a Bachelor of Arts from Georgetown University, and a Master of Business Administration from The Wharton School, University of Pennsylvania. He is a member of the Knights of Columbus, the International Institute for Security Studies, and the Council on Emerging National Security Affairs.
As I have stated in the past, all of these local races have become national referendums on the continued survival of America as a free nation. Scott Brown, Charles Djou, Nikki Haley, John Willoughby, Allen West, Marco Rubio, Dan Benishek, Christine O’Donnell, Sharron Angle, Joe Miller…and the list goes on. Please donate to Sean’s campaign in any way that you can as taking down the great white shark, Barney Frank will do more to demoralize and derail the progressives than any other candidate except for Nancy. Remember, the other sweetheart deal, money man, Chris Dodd, is retiring.
(UPDATE: Everybody please wave to the Comptroller of the Currency! Hey Compy – I have a very special post coming your way…) (Editor’s Note: Monster Readers? Are you ready to take a look at the debt noose around your necks?)
Remember way back when (March, 2009) when AIG paid out $90 Billion in US taxpayer funds to American investment houses that were already receiving TARP funds, and also to foreign banks? As of March, 2009, AIG had received $182 Billion in bailout funds.
Big foreign banks also received large sums from the rescue, including Société Générale of France and Deutsche Bank of Germany, which each received nearly $12 billion; Barclaysof Britain ($8.5 billion); and UBS of Switzerland ($5 billion).
Yesterday, 9.1.2010, Afghanistan’s Central Bank took over the largest private bank in the country and threatened the top brass of Kabul Bank with arrest for ‘illegal loans’ and misuse of bank funds to purchase real estate in Dubai if they did not resign. It appears that the Central Bank governor and General Petraeus were the voices behind Karzai’s decision to ‘change management’ of Kabul Bank. This bank reportedly has $1.3 billion in deposits from ‘ordinary afghans’, yet only about 5% of Afghans have bank accounts. (Source: Washington Post)
Today, 9.2.2010, the Treasury is working with the Afghanistan Central Bank (which we taxpayers spent millions to set up; betcha didn’t know that!) as they are watching Afghans scramble to pull their money out of Kabul Bank. According to the Washington Post article, shareholders state there is $500 million in liquid cash but most of it is sitting inside the Central Bank. (Source: Washington Post).
Why would most of the largest private bank’s funds be sitting inside the Central Bank?
(Editor’s Note: Strap-in folks; this is going to be a very merry little ride through the labyrinth that started with a simple “pay attention” set of videos from Alex Jones and Catherine Austin Fitts.)
Meet Catherine Austin Fitts, a former HUD assistant secretary, investment banker, and entrepreneur who holds a MBA from Wharton and no longer walks on the dark side. She is also the president of Solari, Inc., managing member of Solari Investment Advisory Services, LLC, and publisher of the Solari Report. (Source: Wiki)
Hey kids, it’s another Oh My %^&*#%$#^%^ God Moment in our national history! This coming from the guy who couldn’t even figure out how to pay his own taxes. So having too much credit is what got us into this mess, and now another democrat wants to raise the country’s credit limit?
Washington — U.S. Treasury Secretary Timothy Geithner asked Congress to increase the $12.1 trillion debt limit on Friday, saying it is “critically important” that they act in the next two months.
Mr. Geithner, in a letter to U.S. lawmakers, said that the Treasury projects that the current debt limit could be reached as early mid-October. Increasing the limit is important to instilling confidence in global investors, Mr. Geithner said.
The Treasury didn’t request a specific increase in the letter.
“It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations,” Mr. Geithner said in a letter to lawmakers.
Mr. Geithner said the that it is “clearly a moment in our history” that requires support from both Democrats and Republicans for the increase.
“Congress has never failed to raise the debt limit when necessary,” Mr. Geithner said.
The non-partisan Congressional Budget Office said Thursday the federal government’s budget deficit reached $1.3 trillion through the first ten months of fiscal 2009, on track to reach a record high of $1.8 trillion for the 12-month period.
Can we impeach the dipstick in the WH yet and fire the rest of these morons?