The banking crises was caused by Bill Clinton, Chris Dodd and Barney Franks, they are the politicians at the heart of the sickness which is weakening this country. Bill Clinton, came up with his "National Homeownership Strategy that lowering of the housing loan regulation created a perfect opportunity for the loan industry to rake in billions of dollars, they bundled loans and sold them to unsuspecting buyer around the world. Chris Dodd’s case, go back and look at the Countryside deals, Barney Frank’s case, go back and the lobbyists he was close to at Freddie Mac. Who ever wants to go after the business community ought to start to go after the politicians who have been at the heart of the sickness which is weakening this country. Its well documented, ever since George W. Bush came to power in 2000 he pointed out the need for a reform of the laws that govern SEC and Wall Street oversight. Their insistence on oversight reform of our financial institutions and markets has been consistent, loud and ignored. Chris Dodd and Barney Frank clamed the housing market was sound there was no need to tighten loan regulations.
Suddenly the Federal Reserve Chairman Ben Bernanke issued a warning about the U.S. economic condition. The housing market turned upside down people were losing their jobs and defaulting on their loans. Ben Bernanke and House members of the U.S. Senate Committee on Finance were recommending immediate action to stimulate the economy. BEN BERNANKE, Federal Reserve: It's particularly important now that the economy is close -- the recovery is close to faltering, we need to make sure that the recovery continues and doesn't drop back, and that unemployment rate continues to fall downward. Bush hoped their plan would provide an "effective, robust, and temporary set of incentives that will boost our economy and encourage job creation.
President Obama pressed aggressively for his massive economic recovery plan (Jan 25, 2009), laying out the most detailed benchmarks to date of a stimulus package that would cost at least $820 billion and warning that the nation's economy could become dramatically worse without major federal investment.
Obama in January 2009, described what he would do with a recovery package aimed at saving or creating as many as 4 million jobs. Republicans who have resisted the scale of federal spending, as well as to average taxpayers, many hit hard by the recession, who have not felt the benefit of earlier government bailouts. Obama said his American Recovery and Reinvestment Plan is critical to jump-starting the economy, The plan, he said, would protect workers from losing health-care coverage; modernize public schools, roads and sewer systems; lower energy costs and lower taxes; and make college more affordable. The president, who met with his chief economic advisers, visited Capitol Hill to court Republican leaders, and top administration officials will fan out on political talk shows to press their case. "In short, if we do not act boldly and swiftly, a bad situation could become dramatically worse." Some congressional Republicans remain opposed to his stimulus plan, saying it includes too many spending programs that may not provide any economic relief and arguing that we need tax breaks.
"Unfortunately, the trillion-dollar spending plan authored by congressional Democrats is chock full of government programs and projects, most of which won't provide immediate relief to banks," House Republican Leader John A. Boehner (Ohio) said in his January 2009 party's response address. Boehner spokeswoman Antonia Ferrier described the White House proposal as "just another unfocused, runaway bill loaded with slow and wasteful Washington spending on every conceivable goal." Boehner criticized some spending proposals in the House Democratic plan, including $6 billion for colleges and universities, many of which have large endowments, and $50 million for the National Endowment for the Arts. "All told, the plan would spend a whopping $275,000 in taxpayer dollars for every new job it aims to create, saddling each and every household with $6,700 in additional debt," he said.
The White House released a four-page report dated in January 2009 outlining spending priorities and accountability measures for the recovery package. Obama wants to double renewable energy capacity within three years, creating enough additional capacity to power 6 million homes, and he plans to leverage $100 billion to finance private-sector clean-energy initiatives. We don't know what happened to Solyndra's stimulus money, they were never able to get their manufacturing costs low enough to be competitive with solar panel manufacturers in China, as well as solar manufacturer companies here in the United States. They were three times more expensive for their modules than competitors and now bankrupt. Fiscal Responsibility not. Constitutionally Limited Government not. Free Markets not.
Do the Wall Street Protesters know what they are talking about? Do the Protesters and Tea Party Patriots agree on any of the issues? Does their OFFICIAL List of Demands have anything to do with the financial crises or is it just organized useful idiots taking our attention away from Obama's failure so we would pay attention to his socialist ideology and how it has failed. The spin misters are at work demonizing, distracting, and trying to change history by filling the useful idiots minds full of mush and telling them that they are victims. Just compare at the Wall Street Protesters Official List of Demands and the Tea Party Patriots.
WALL STREET PROTESTERS OFFICIAL LIST OF DEMANDS
Wall Street protesters believe Wall Street Bankers have perpetuated inequality and discrimination in the workplace based on age, the color of one’s skin, sex, gender identity and sexual orientation. They have poisoned the food supply through negligence, and undermined the farming system through monopolization. They have profited off of the torture, confinement, and cruel treatment of countless nonhuman animals, and actively hide these practices. They have continuously sought to strip employees of the right to negotiate for better pay and safer working conditions. They have held students hostage with tens of thousands of dollars of debt on education, which is itself a human right. They have consistently outsourced labor and used that outsourcing as leverage to cut workers’ healthcare and pay. They have influenced the courts to achieve the same rights as people, with none of the culpability or responsibility. They have spent millions of dollars on legal teams that look for ways to get them out of contracts in regards to health insurance. They have sold our privacy as a commodity. They have used the military and police force to prevent freedom of the press. They have deliberately declined to recall faulty products endangering lives in pursuit of profit. They determine economic policy, despite the catastrophic failures their policies have produced and continue to produce. They have donated large sums of money to politicians supposed to be regulating them. They continue to block alternate forms of energy to keep us dependent on oil. They continue to block generic forms of medicine that could save people’s lives in order to protect investments that have already turned a substantive profit. They have purposely covered up oil spills, accidents, faulty bookkeeping, and inactive ingredients in pursuit of profit. They purposefully keep people misinformed and fearful through their control of the media. They have accepted private contracts to murder prisoners even when presented with serious doubts about their guilt. They have perpetuated colonialism at home and abroad. They have participated in the torture and murder of innocent civilians overseas. They continue to create weapons of mass destruction in order to receive government contracts.
TEA PARTY PATRIOTS ARE ALL ABOUT
For two years now, tea partiers have stood firmly on principle and helped shape the political debate in this country. They believe in time-honored American values, principles and systems including the freedom to innovate and employ people to implement and distribute one's ideas to the public.
They believe freedom from government allows entrepreneurs to try new things, see what works and discard what doesn't. They don't believe corporations are inherently evil, nor should bankers be beheaded. They do not believe this country should be divided by class, but united in a return to the principles that undergird our nation's success. In fact, they want more of what made America great: more Constitutional restraint on government so that the people have more freedom to achieve the good things the country offers.
The tea party was a spontaneous, organic and fast-moving movement, but it has maintained a cogent message: a demand for fiscal responsibility in government.
Tea party rallies have always been safe and clean. Unlike in New York, we can find no reports of tea partiers being arrested, individually or en masse, at the thousands of tea parties across the country with millions of attendees that have taken place for years now. They are not lawbreakers, they don't hate the police, they don't even litter.
We recognize the strength of grassroots organizing powered by peaceful activism and civic responsibility at the local level. Our mission is to organize like-minded individuals, educate and inform others based on our core values, secure public policy consistent with our values, and effect the results of elections to align with our values. We are not a political party. We are not abusive or threatening; we protest peacefully. We are not controlled by any other group or national organization We believe that social issues; while important can be used to divide us and dilute our message there fore, we will not address them. We will allow our core values to indentify our position on these issues and defer to other groups to address them. The Tea Party Patriots are organized with out regard to race, sex, or social status and find our cohesiveness in our persistence to ensure public policies and those who serve our community and country, support the voice of the people and the Constitution of the United States..
Fiscal Responsibility, Constitutionally Limited Government and Free Markets
Pasted from <http://www.nvtpp.com/>
The tea party, meanwhile, was a spontaneous, organic and fast-moving movement, but it has maintained a cogent message: a demand for fiscal responsibility in government. Tea party rallies have always been safe and clean. Unlike in New York, we can find no reports of tea partiers being arrested, individually or en masse, at the thousands of tea parties across the country with millions of attendees that have taken place for years now. They are not lawbreakers, they don't hate the police, they don't even litter. A quick glance at the TV reveals the sharp contrast posed by the Wall Street occupiers.
Contrast, those occupying Wall Street and other, when they are intelligible, want less of what made America great and more of what is damaging to America: a bigger, more powerful government to take from other citizens and allow the government to come in and take care of them so they don't have to work like the rest of us who pay our bills.
Yet the Leftist media cheers for a group of lawbreaking troublemakers who occupied a park in New York, blocked the Brooklyn Bridge, were arrested by the hundreds and treated law enforcement with disrespect and disdain all while trying to tear down the foundations of the greatest nation on earth.
The media is trying to say the Wall Street protester are the same as the Tea Party Patriots. Such a media response is expected. But when you compare these people with tea partiers' now you've got a problem with We the People.