FoxNews: Ethics Panel Says 'Sorry, Charlie, No Deal'
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| ... Rep. Michael McCaul, R-Texas, ranking member on the House Committee on Standards of Official Conduct, said Rangel was given an opportunity to settle charges during the investigative process, and that time has passed. "Let me be clear that Mr. Rangel under these rules was given opportunities to negotiate a settlement during the investigation. Let me be clear that I did not participate in any attempts to cut a back room deal behind closed doors," McCaul said at the start of a hearing on possible corruption charges. McCaul said it's not lost on any member of the panel that the... |
Rep. Barney Frank Causes Scene Demanding Discount
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| Massachusetts Congressman Barney Frank caused a scene when he demanded a $1 senior discount on his ferry fare to Fire Island's popular gay haunt, The Pines, last Friday. Frank was turned down by ticket clerks at the dock in Sayville because he didn't have the required Suffolk County Senior Citizens ID. |
Caption Obama signing Financial Reform (government control) bill
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| President Barack Obama promised the American people would never again have to foot the bill for the fall-out from the banking industry as he signed into law the most wide-ranging overhaul of US financial regulations since the 1930's. |
Video: Fannie Mae, Countrywide’s mutual backscratching
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| Color me a little surprised that CBS covered this story this week — and credit it to Rep. Darrell Issa (R-CA), who has doggedly “followed the money” in this scandal for the last two years. While we knew about the Friends of Angelo program that counted Chris Dodd and others on Capitol Hill among its beneficiaries, the scale of the income involved for Fannie Mae execs and their reach within government is certainly worth a much closer look. |
Congress Should Take Up $90 Billion Bank Tax, Barney Frank Says
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| Congress Should Take Up $90 Billion Bank Tax, Frank SaysBy Alison Vekshin Friday, July 16, 2010; 3:59 PM Frank said Treasury Secretary Timothy F. Geithner had urged him not to look for bank fees, which Frank had sought to help pay for the legislation, because the administration plans a major push for a broader tax. "I don't understand how members can say they're for reducing the deficit and then let Goldman Sachs and JPMorgan Chase off the hook entirely. They were the major beneficiaries of the intervention," Frank, the chairman of the House Financial Services Committee, said today in an... |
Scott Brown Sells Out
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| On the evening of Scott Brown’s election, I wrote that among the reasons for his victory was resentment of “a host of actions to prop up Wall Street firms at the expense of taxpayers.” Who would have thought that less than six months later Brown would cast the decisive vote in favor of legislation that institutionalizes Wall Street bailouts, and whose sponsors — Christopher Dodd and Barney Frank — played key roles in bringing on the meltdown, not to mention representing everything that is sleazy and corrupt about Washington. If Brown wasn’t running against Barney Frank when he railed against... |
Racial quotas in Dodd-Frank financial regulatory bill
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| The Dodd-Frank financial regulatory bill, ostensibly aimed at reforming Wall Street and preventing a future financial crisis, will impose racial and gender quotas on financial institutions if passed, according to economist Diana Furchtgott-Roth. Section 342 of the bill will establish Offices of Minority and Women Inclusion in at least 20 federal financial services agencies. These offices will be tasked with implementing “standards and procedures to ensure, to the maximum extent possible, the fair inclusion and utilization of minorities, women, and minority-owned and women-owned businesses in all business and activities of the agency at all levels, including in procurement, insurance, and... |
<B>The Uncertainty Principle</b>Dodd-Frank will require at least 243 new federal rule-makings.
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| So Republicans Scott Brown, Olympia Snowe and Susan Collins now say they'll provide the last crucial votes to get the Dodd-Frank financial reform through the Senate. Hmmm. Could this be Minority Leader Mitch McConnell's secret plan to take back the Senate, guaranteeing another year or two of regulatory and lending uncertainty and thus slower economic growth? Probably not, but that still may be the practical effect. This week White House aides leaked to the press that President Obama may seek a review of regulations that are restraining business confidence and bank lending. Yet Dodd-Frank, with its 2,300 pages, will unleash... |
Feingold is only Dem. against finance reform bill
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| <p>MILWAUKEE—When the U.S. Senate votes in the next few days on the controversial financial reforms backed by President Barack Obama, Wisconsin's Sen. Russ Feingold is expected to be the only Democrat voting against it.</p> |
Two Congressmen, Both Democrats, Ask Obama to Dismiss His NOAA Administrator
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| (CNSNews.com) - Reps. Barney Frank and John Tierney, both Massachusetts Democrats, say Dr. Jane Lubchenco, the head of the National Oceanic and Atmospheric Administration, has shown hostility to the concerns of fishermen and should step down. Among other problems, a recent inspector-general’s report found problems with the way NOAA’s Office of Law Enforcement spent money raised through fines and penalties on fishermen. Frank and Tierney – both of whom represent port cities in Massachusetts -- say tensions between Lubchenco and the fishing community have been building for months and show no sign of abating. They place the blame squarely on Lubchenco,... |
Financial regulation bill dictates ethnic, gender quotas
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| Financial regulation bill dictates ethnic, gender quotas POSTED AT 12:55 PM ON JULY 8, 2010 BY ED MORRISSEY Chris Dodd, Barney Frank, and Barack Obama insist that the new financial regulation bill pending a vote in the Senate is a necessity to restore stability to troubled markets. Instead, it looks as though Democrats have been more concerned about quota systems than economic growth. Buried deep within the bill is a requirement for all regulatory agencies with jurisdiction in economic arenas to start beancounting based on ethnicity and gender, as Diana Furchtgott-Roth discovered: In addition to this bill’s well-publicized plans to... |
Fannie, Freddie Dropped from New York Stock Exchange
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| Fannie Mae and Freddie Mac common stock was removed today from the New York Stock Exchange (NYSE). The Federal Housing Finance Agency (FHFA) directed the government-sponsored enterprises (GSEs) in June [1] to de-list from the NYSE and any other national securities exchange. The direction came after the price of their common stock hovered near the minimum average closing price of $1 for more than 30 days for most months since the conservatorship took effect in September 2008. |
Who Would Finance Mortgages If Fannie, Freddie Disbanded?
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| Big changes are in store for the banking system should Fannie Mae and Freddie Mac be revamped or eliminated—both of which are being discussed by housing experts and government officials to deal with the distressed real estate market. As the system works now with the two entities, Fannie and Freddie , banks write the mortgages, but they rarely hold them. The mortgages are sold off into pools, known as mortgage-backed securities (MBS). Fannie and Freddie guarantee the mortgage payments, so that the MBS buyer, be it the Chinese government or an American pension plan, has the security of the US... |
House Passes Financial Services Bill; Mandates Racial Favoritism
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| Supporters call it "financial services reform." Yet one has to wonder what the Restoring American Financial Stability Act of 2010 is reforming or stabilizing. The House on Wednesday by a 237-192 margin passed the 2,300-plus-page conference bill designed to protect American households from predatory practices by banks, subprime lenders, brokerage houses and other intermediaries. But evidence suggests that if it becomes law, the bill instead will lay the groundwork for another major federal bailout. During House-Senate conference sessions, affirmative action zealots inserted a host of mandates to promote credit allocation by race. Sen. Christopher Dodd, D-Conn., and Rep. Barney Frank,... |
Sweeney Todd VS Barney Dodd
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| Famously known as the demon barber of Fleet Street, Sweeney Todd slit the throats of unsuspecting customers before dumping them through a trap door into his basement. His partner in crime used the meat to make pies to sell at a sidewalk shop. Though these were fictional characters we may have a more destructive duo around today. Barney Dodd (Barney Frank and Chris Dodd)... |
Covering Their Fannie
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| Subprime Scandal: Missing from stories about finance reform is what Democrats left out of it: a fix for Fannie Mae and Freddie Mac, which continue to bleed billions. Nor has it been explained why the two mortgage giants at the heart of the housing crisis were excluded. A little research, however, provides answers. Many of the Senate and House conferees who assembled the final overhaul bill are among the biggest recipients of cash from Fannie and Freddie, which over the years have been plagued by Democrat cronyism and corruption. Some of the Hill's biggest protectors of the toxic twins and... |
The Bailout Tax -- The latest reason to oppose Dodd-Frank.
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| A new tax on financial companies seemed like a good idea to Chris Dodd and Barney Frank at 3 a.m. last Friday, but now their $19 billion levy is threatening to blow up their 2,319-page financial bill. So they're scrambling to replace that cash, but the bigger news here is that Barney and Chris need to impose a bailout tax for what they claim is a bill that will end bailouts. This is the real reason that the tax came out of nowhere in the middle of the night after having been rejected earlier by the Senate. And on Monday... |
Future of Financial Regulation Bill Grows Murky
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| What if you pulled an all-nighter in college, only to have the professor tell you your work wasn’t good enough and demand a re-write of your paper? That could be the fate of the House and Senate on a massive financial regulation bill to restructure the banking and lending industries. Conferees from the House and Senate met for the past three weeks trying to reconcile differences in a financial regulatory bill approved by both chambers. A conference committee is where lawmakers meet to forge a final measure before it goes to the president. The conferees met all day last Thursday,... |
Fannie-Freddie Bailout Could Cost Taxpayers $1 Trillion
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg. According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, some experts caution, the cost to the taxpayer could hit as much as $1 trillion. Two things are clear: Taxpayers don’t want to foot the bill, and Fannie and Freddie, taken over by the government in 2008 to stanch the financial bloodletting, need a major overhaul. |
The Big Grab....Caption Fwank And Dodd
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
BIG Grab
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| Today, a new 2,000 pages that brings about new laws in the area of the economic market place have come out. Both the USA House and Senate have come to a final agreement on new financial rules after pulling out an all nighter after doing about twenty hours of mind-numbing work. |
Frank and Colleagues (Ron Paul!!!) Scrutinize Military Spending [Shortened Title]
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| As Congress considers appropriating hundreds of billions of dollars in funding for the Department of Defense, a bipartisan group of legislators today announced an initiative to urge the President’s deficit reduction commission to reduce military spending as part of government efforts to address the budget deficit. At a press conference today, Representatives Barney Frank (D-MA), Ron Paul (R-TX), and Walter Jones (R-NC), along with Senator Ron Wyden (D-OR), released a copy of their joint letter to the President’s National Commission on Fiscal Responsibility and Reform, and outlined their plans for forcing serious consideration of spending that has long been considered... |
Panel commissioned by Barney Frank recommends nearly $1T in defense cuts
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| A panel commissioned by Rep. Barney Frank (D-Mass.) is recommending nearly $1 trillion in cuts to the Pentagon’s budget over the next 10 years. The Sustainable Defense Task Force, a commission of scholars from a broad ideological spectrum appointed by Frank, the House Financial Services Committee chairman, laid out actions the government could take that could save as much as $960 billion between 2011 and 2020. |
Barney Frank calls for probe of Gaza raid
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| U.S. Rep. Barney Frank had harsh words yesterday for the Israeli Navy after a bloody raid on a pro-Palestinian flotilla outside of Gaza, describing nine activists killed in the conflict as “innocent” and calling for an independent inquiry into the showdown. Frank, in a wide-ranging interview with the Herald, went on to say that “as a Jew,” Israeli treatment of Arabs around some of the West Bank settlements “makes me ashamed that there would be Jews that would engage in that kind of victimization of a minority.” |
Barney Frank backs off from Israel criticism
Friday 30th of July 2010 05:46:45 AM
Posted by admin / Under Frank Major
| U.S. Rep. Barney Frank scrambled yesterday to backtrack from his criticisms of an Israeli raid on a pro-Palestinian flotilla that left nine dead - saying he never referred to those killed as “innocent.” Frank, (D-Newton), came under fire from local Jewish groups after telling the Herald Tuesday he was “as a Jew ... ashamed” of some Israeli actions and saying there should be a “genuinely impartial” inquiry into the raid. Yesterday, Frank said a probe by an Israeli-commissioned group is best. “The record of the United Nations with regard to Israel is a badly biased one and clearly no inquiry... |
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