Blog Archives

Mike Pence On Patriots and the First Amendment

Posted by courage On July - 29 - 2010

Nothing more needs to be said…

3 Reasons Why the Financial “Reform” Bill is Worthless

Posted by courage On July - 7 - 2010

As you watch the following clip ask yourself, how competent has the government been in administrating control over anything?  Think about the boondoggle in the Gulf, or Freddie and Fannie the housing giants which are sinking in perpetual red or the stimulus package which has failed to “jump start” the economy.  The list of failures extend in to long held government initiatives such as the “War on Poverty” to the Department of Education, failures in achieving even the slightest semblance of what they were designed to do.

Can a government led watchdog group monitor the financial industry?  If “too big to fail” companies are given immunity and free reign, knowing the government will bail them out for poor decisions, will they honestly work toward fiscally sound stewardship?  Freddie Mac and Fannie Mae with their “progressive” business model, played a major role in the economic collapse of the market.  Why is strict oversight in these two now government agencies not in the proposed bill?  Of course for those who may not be aware, both agencies have been given an open checkbook by the federal government as their bottom line bleeds red.

So what is the purpose of this bill?  What unintended consequences will result should this pass?  We only need look to the credit bill which passed, interest rates skyrocketed for many individuals.  Congress has yet to address this issue which effects the everyday lives of people, they are to busy looking to see what sector of the economy they can control next.

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To see the manner in which the government extended oversight to Fannie and Freddie see this post.

Pelosi: Unemployment Benefits are a Job Creator

Posted by courage On July - 2 - 2010

Who knew that unemployment benefits created jobs?  Sometimes you just can’t make up the inane things that spill from elected officials mouths.

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“It creates jobs faster than almost any other initiative you can name.”I wonder if the Speaker also thinks that other programs are also “job creators?”  You know things like hmm say, food stamps and welfare; do they also create jobs?  Oh maybe she’s talking about creating government jobs to process the paperwork that goes along with various program.  Naw, that would make too much sense.

Senator Harry Reid is a Buffoon

Posted by courage On June - 3 - 2010

From the Washington Times:

During a press conference last Friday, Senate Majority Leader Harry Reid, Nevada Democrat, told reporters about a bipartisan amicus brief to the Supreme Court supporting the right of military families to bury the remains of their loved ones without being protested. I asked Mr. Reid if the same right to privacy should extend to private citizens whose homes are protested by public unions. Mr. Reid dodged the issue saying, “I don’t know anything about lawns and Bank of America executives.”

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Of course, why would Reid know anything about the SEIU workers who stormed the home of a Bank of America lawyer and protested on his front lawn?  This act of terrorism by SEIU thugs was widely reported on by the media when it happened.

Are these congresscritters that disconnected from what is happening in this country or is his feigned ignorance because SEUI is intimately tied to the Democratic party and could be considered the enforcement arm of the party?

In any case.. Senator Reid, you are a buffoon!

Calderon’s Address to Congress

Posted by courage On May - 25 - 2010

The Democrat’s gave a standing ovation to the two lie’s Calderon’s spoke while addressing Congress.  This maneuver of slapping the United States in the face was an attempt to meddle in United states sovereignty.  Do Democrats believe in the sovereignty of the United States of America or do they believe in a “international order” as the pResident stated a week ago during his commencement speech at West Point?  All indications point to the later, the Democrats do not believe in the principles of this country and desire to weaken the greatness of this country while  perpetuating its demise.   Did these Democratic Congress critters take an oath to uphold the US Constitution or was that mainly lip serve to gain power through a system that has deviated from its intent?  For me the the verdict is  out, we have enemies from within which threaten the country.

What were the two overt lies spoken by the President of Mexico?

Bob Owens from Pajamas Media spells it all out here.

It has already been widely reported that Calderon misrepresented Arizona’s new immigration enforcement law. His own nation’s laws punishing even poorer immigrants surging up from Central America are far more draconian, but the obvious hypocrisy apparently left no foul taste in his mouth.

If the federal government refuses to perform their duty as per the Constitution, Article  IV, Section 4. which states:

The United States shall guarantee to every State in this union a Republican Form of Governance, and shall protect each of them against Invasion; and on Application of the Legislature, or the Executive (when the Legislature cannot be convened), against domestic Violence.

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Fannie and Freddie: A Case Study in Failure

Posted by courage On May - 25 - 2010

Yes Congress has passed the financial “reform” bill, it now moves to committee to reconcile the two Congressional versions.  The puzzling aspect of this bill is that both the House and Senate version fail to address the catalysis for the housing meltdown, Fannie Mae and Freddie Mac.  In fact, late last year Congress opened, what can be described as an open line of credit for these institutions, creating agencies which have NO incentive to make  prudent loans based on sound financial principles.  Instead the underwater and deep red financial sheet of these agencies is sure to plunge deeper in to an abyss of waste and irresponsible lending, needn’t worry though our tax dollars will prop of this agencies which display government irresponsibility at its highest.

Take a look at the dismal shape of these agencies, courtesy of the Heritage Foundation:

  • Titanic FailureMarket Movers: Fannie Mae and Freddie Mac both played a major role in the housing boom that preceded the economic meltdown of 2008, controlling as much as half of the nation’s residential mortgage market. And that role has grown: Last year, these two government-sponsored enterprises (GSEs) financed or backed about 70 percent of single-family mortgage loans. They hold about $5 trillion in their investment portfolios.
  • Ignoring the Problem: Yet the legislation Congress is considering to reform the financial industry would do nothing to fix the problems associated with Fannie and Freddie. Some lawmakers have attempted to ensure that the current reform effort addresses the problems created by both entities—to no avail.
  • Taxpayers Foot the Bill: Fannie and Freddie are losing money fast, and their losses are being covered by taxpayers—the same taxpayers whom lawmakers say they want to protect from footing the bill for future bailouts.
  • Wanting Even More Money: For the first quarter of 2010, Freddie Mac announced losses of $8 billion and said it would be asking for another $10.6 billion in taxpayer help. Fannie Mae, meanwhile, announced an $11.5 billion loss and asked for another $8.4 billion. This is on top of the nearly $145 billion in taxpayer dollars
  • A Running and Endless Tab: This total, unfortunately, is sure to go higher. Last December, the Obama Administration lifted caps on how much total bailout money Fannie and Freddie can receive. The limits have gone from $200 billion each to however much they say they need.

Trouble Then, Trouble Now

  • Courting Trouble for a Long Time: Experts have warned for decades that Fannie and Freddie lacked sufficient capital—made up of both investors’ money and retained earnings—to protect against losses.
  • Lawmakers Look the Other Way: Back when they were privately owned, Fannie and Freddie had only $1 in capital for every $20 in assets; most banks had $1 in capital for every $12 in assets. Congress did consider higher standards in the 1990s, but many of the same lawmakers who head the oversight committees for Fannie and Freddie today bowed to a high-powered lobbying campaign that derailed reform.
  • Kicking the Can: According to Senator Mark Warner (D–VA) and the Obama Administration, a plan to tame these two GSEs will have to wait until at least next year. An effort by John McCain to amend the pending financial regulation bill to address the problem was defeated recently and replaced by a call for a “study” of the issue. 
  • Fixing Fannie and Freddie
  • Stop Perpetuating the Problem: Fannie Mae and Freddie Mac have posed a risk to the financial system and the taxpayer for long enough. They need to be put on a path to genuine resolution. Fannie and Freddie should be partly wound down, the rest broken up and sold off—not replaced, reformed, or rejuvenated.
  • Don’t Let It Happen Again: Congress should also ensure that no successor institution be provided with the implicit guarantees that allowed these two to play h

The Perpetual Candidate Syndrome: Mark Leyva

Posted by courage On April - 29 - 2010

Political operatives are always on the look-out for methods to increase their exposure.  The perpetual is a candidate disconnected with voters. They present themselves as the one thing they are not… electable.  Since one particular candidate has chosen to “go public” with his self-appointed leadership position of the Lake County Tea Party, the time has come to examine and shake out what is the driving factor behind the missteps, inconsistencies and character behind Mark Leyva.  After turning Mark Leyva upside-down, it is interesting to see what shakes out.

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Lt. Col. Allen West (Ret Army) spoke at the Washington, D.C. Tax Day Tea Party on April 15, 2010. West is running for the U.S. House of Representatives to serve Florida’s 22nd District.  He believes in a constitutional government based on the principles of the founding father’s.

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If you want to help the Lt. Col. in his bid for Congress, please visit his site at

Allen West for Congress.