Below is the first part of a story on what's happening on the banking front. Below that I've linked to the complete story so you can make up your own mind.....Below that is some commentary.....
By David Lawder David Lawder
Sat Feb 21, 7:51 pm ET
WASHINGTON (Reuters) – Financial regulators will soon launch a series of "stress tests" to determine which of the largest U.S. banks should get bigger capital cushions in case of a deeper recession, a person familiar with Obama administration plans said on Saturday.
The person, speaking on condition of anonymity, said if institutions were found to need additional capital, financial authorities would provide them with an "extra cushion of support."
Banks are expected to receive additional information about the tests in the coming week from regulators.
The largest U.S. banks are "well capitalized" for current conditions, the source said, but the Obama administration wants to ensure they can withstand a more severe economic climate and play an important role in helping restart the flow of credit.
Initial plans for the stress tests were announced on February 10 as part of Treasury Secretary Timothy Geithner's bank stabilization plan, but the source on Saturday for the first time linked the tests to additional government support for large banks. That person did not specify what form any extra capital cushion may take.
Little is known about the form of the stress tests, but the person described them as "consistent, forward looking and conservative."
The Obama administration tried on Friday to ease market fears the government was poised to nationalize some large banks that are struggling with losses and a lack of confidence, notably Citigroup and Bank of America.
Bank shares fell sharply, with Citigroup plunging 22 percent to below the $2 fee of a typical automated teller machine, or ATM, and Bank of America trading around the $4 level.
http://news.yahoo.com/s/nm/20090222/bs_nm/us_financial_banks_capital;_ylt=AgAHVvofAFtrnJbHrTZEJ9fZn414
From Yahoo buzz....
Bruce W: Regulatory designed stress tests did not work for the 20 years that I worked as a bank regulator. These are just some economist's best guess on how things react. It comes down to the member's trust and the quality of service that a financial institution instills on it's coustomer.
......and my response......
Bruce....You're not thinking like a good little communist. The banking stress tests Obama has in mind have nothing to do with "safety and soundness" and everything to do with saying "Bank 'X' can't survive without more government intervention so we the government are going to take over the bank." People at Citigroup and BOA are scared as hell, just as are people in the markets.
It will start this way.....Obama's henchmen will decide that a few big banks are going to fail so the Gov. will nationalize them "short term". The sheeple will buy into it, even while knowing that the Gov. never does ANYTHING short term. After grabbing a few big banks they will move on to the regional banks, and so on and so on until they have control of most of the available financial resources that business relies on. When hyperinflation sets in from their latest spending spree they will devalue the dollar and create a new currency.....
With the new currency in place they will offer 10 cents on the dollar for all 401k plans and money market funds. But they will use funny math and offer that money based on the August or September 2008 value of your holdings. Those plans will then be dissolved since the "old dollar" is completely worthless.....At that point virtually everyone's finances will be under government control, then the government can pretty much do whatever it damn well pleases.
If they move too quickly there will be backlash, and the 2nd amendment certainly gets in the way. That's where martial law, troops in the streets, and government confiscation of firearms comes in. The last issue they need to address is the Military's oath to "Protect and Defend the Constitution of the U.S. from ALL enemies Foreign and Domestic".
They're already trying to dull that down by proposing to change that oath to swearing loyalty to the President instead of to The Constitution. The "liberals" will try to tell you that it's just a matter of semantics, but any thinking person knows better.
For crying out loud you just had Nancy Pelosi over in Rome telling the Pope that his stand on abortion was wrong.....You have Hillary in Communist China telling that country's leaders that we will work together on economics and the environment. (Don't forget how many classified documents landed over there during Bill's presidency.)
What I've stated above is what I would tend to think of as a worse case scenario, but not at all out in left field. Rahm Emmanuel himself has said that "you don't let a good crisis go to waste". The way these people think makes me nervous.
This administration is divisive and perpetuating class warfare, trying to create divides on racial and economic lines. There is nothing inclusive, open, or transparent about anything they are doing at this point. The media can spin it what ever way they want, but this is one middle class citizen that ain't buying.
That's my take on the thing.....believe it or don't.....
The beauty of writing something like this is that if it doesn't happen then I can say that I helped prevent it. If it does happen I can say I was right.
Good Day!!
Sunday, February 22, 2009
Friday, February 13, 2009
House Resolution 45 or HR 45 for short.....
I've been doing a little popping around the web looking for some information on the reappearance of this bill that was defeated a year or so ago.....It's back again, inspite of a recent Supreme Court Ruling that essentially reaffirmed the 2nd Amendment.
It never ceases to amaze me how the arrogant power brokers in Washington will continue to undermine or just plain ignore our Constitution when it gets in the way or their tightening of control on every aspect of our lives.....Quite frankly, a good federal prosecutor, with strong Constitutional knowledge, could probably make convictions on charges of "treason" stick on any number of members of Congress since they are in direct violation of their "Oath" to protect and defend the Constitution of the United States. Pelosi, Reid and Barbara Boxer would all be among the first to go down.
But of course.....They don't care about the Constitution.....Only about their own wealth and power, and the misguided belief that they are to be the new leaders of a "liberal" (Communist) Utopia.....
They'll never get there if the populace is allowed to remain capable of defending itself and the Constitution against these very arrogant and dangerous "domestic enemies".
Some of you will say that HR 45 is just about registering firearms. Not so. It's really about trying to know where EVERY privately owned firearm is in the entire country. A single violation of any kind means you lose the "right". Who decides the violations? Well probably Obama's New KGB, since now the NSA is going to be tied in with every local law enforcement agency. And since the ultimate goal is to disarm the public entirely you will see alot of "violations". Probably going to see more than a few dead citizens as well, because there will be some people who are just more than a little willing to stand up against what they feel is "Tyranny" in Washington. Our Founding Fathers recognized that all governments will become corrupt and that the people need to retain the ability to rise-up against an unjust and corrupt government for Liberty and Freedom to remain more than mere words.
The current governing alliance of Leftists like Pelosi and Reid and more mainstream Democrats just trying to protect themselves is the most dangerous affront to Liberty and Freedom that we have encountered in 233 years as a nation.
Below is some information I acquired about HR 45 from the North Dakota Outdoors website.
Good Day!
Subject: House Bill 'HR 45'
Are you ready for the House Bill titled 'HR 45, Blair Holt Licensing and Record Act of 2009'. It will make it illegal to own a firearm unless it is registered with the database in Washington D.C. As a gun owner you will have to be finger printed, you will be required to provide your DL#, SS#, you must maintain a valid address at all times, submit to mental and physical health records being put on file, you will also be required to file any address changes and any ownership changes even if private sale. Each update will cost $25 and if you fail to comply you will lose your right to own firearms. This bill and its language mirror almost completely one defeated last year in the House of Representatives by soon to be Chief of Staff Rahm Emanuel.
Criminals by definition and nature do not abide by laws. New laws and restrictions only apply to the law abiding citizen and are not written with the criminal in mind. With guns, it is not about having laws on the books to prosecute individuals, it is about taking guns away from the people so that no one has them in the first place. One last item to note, when assuming power and creating a facist state, Hitler was a proponent of strong gun laws because a disarmed populace was much easier to control than an armed one. The Kings of old also outlawed weapons of any kind in any region that they conquered to quell the ability of the citizens to uprise against them.
The Founding Fathers of this Nation understood all of the above and because of this they included the Second Amendment in the Constitution. In fact, they knew that at some point in every society's life span that the need for the population to arise came about. To this end they made the right to keep and bear arms against a tyrannical state an absolute right that could not be revoked. They did this because the first thing tyrants and despots do is to remove a populations right to defend themselves. When this is done the tyrants have no problem with the destruction of society as we know it.
To see bill, go to:
http://frwebgate.access.gpo.go.....:h45ih.txt
http://www.washingtonwatch.com/bills/show/111_HR_45.html
It never ceases to amaze me how the arrogant power brokers in Washington will continue to undermine or just plain ignore our Constitution when it gets in the way or their tightening of control on every aspect of our lives.....Quite frankly, a good federal prosecutor, with strong Constitutional knowledge, could probably make convictions on charges of "treason" stick on any number of members of Congress since they are in direct violation of their "Oath" to protect and defend the Constitution of the United States. Pelosi, Reid and Barbara Boxer would all be among the first to go down.
But of course.....They don't care about the Constitution.....Only about their own wealth and power, and the misguided belief that they are to be the new leaders of a "liberal" (Communist) Utopia.....
They'll never get there if the populace is allowed to remain capable of defending itself and the Constitution against these very arrogant and dangerous "domestic enemies".
Some of you will say that HR 45 is just about registering firearms. Not so. It's really about trying to know where EVERY privately owned firearm is in the entire country. A single violation of any kind means you lose the "right". Who decides the violations? Well probably Obama's New KGB, since now the NSA is going to be tied in with every local law enforcement agency. And since the ultimate goal is to disarm the public entirely you will see alot of "violations". Probably going to see more than a few dead citizens as well, because there will be some people who are just more than a little willing to stand up against what they feel is "Tyranny" in Washington. Our Founding Fathers recognized that all governments will become corrupt and that the people need to retain the ability to rise-up against an unjust and corrupt government for Liberty and Freedom to remain more than mere words.
The current governing alliance of Leftists like Pelosi and Reid and more mainstream Democrats just trying to protect themselves is the most dangerous affront to Liberty and Freedom that we have encountered in 233 years as a nation.
Below is some information I acquired about HR 45 from the North Dakota Outdoors website.
Good Day!
Subject: House Bill 'HR 45'
Are you ready for the House Bill titled 'HR 45, Blair Holt Licensing and Record Act of 2009'. It will make it illegal to own a firearm unless it is registered with the database in Washington D.C. As a gun owner you will have to be finger printed, you will be required to provide your DL#, SS#, you must maintain a valid address at all times, submit to mental and physical health records being put on file, you will also be required to file any address changes and any ownership changes even if private sale. Each update will cost $25 and if you fail to comply you will lose your right to own firearms. This bill and its language mirror almost completely one defeated last year in the House of Representatives by soon to be Chief of Staff Rahm Emanuel.
Criminals by definition and nature do not abide by laws. New laws and restrictions only apply to the law abiding citizen and are not written with the criminal in mind. With guns, it is not about having laws on the books to prosecute individuals, it is about taking guns away from the people so that no one has them in the first place. One last item to note, when assuming power and creating a facist state, Hitler was a proponent of strong gun laws because a disarmed populace was much easier to control than an armed one. The Kings of old also outlawed weapons of any kind in any region that they conquered to quell the ability of the citizens to uprise against them.
The Founding Fathers of this Nation understood all of the above and because of this they included the Second Amendment in the Constitution. In fact, they knew that at some point in every society's life span that the need for the population to arise came about. To this end they made the right to keep and bear arms against a tyrannical state an absolute right that could not be revoked. They did this because the first thing tyrants and despots do is to remove a populations right to defend themselves. When this is done the tyrants have no problem with the destruction of society as we know it.
To see bill, go to:
http://frwebgate.access.gpo.go.....:h45ih.txt
http://www.washingtonwatch.com/bills/show/111_HR_45.html
Tuesday, February 10, 2009
Obama and the Iranians
There was talk today about Iran extending an "olive branch" for a new era in Iran U.S. relations.....this is how I see it....
Another blogger wrote that he was encouraged by the student "rumblings" in Iran about a more open government. This is my response to that and how I view this "sudden" turn about in Iranian diplomacy.
There were "rumblings" in China too.....Remember how Tianammen Square turned out?.....The reality is that Iran has been fighting sanctions, delaying inspections, refusing inspections, denying they are doing anything other than "innocent nuclear research".....If you buy that then I have a bridge to sell you.....Because the whole time they are doing "deny, delay" they test new missile platforms, lob threats at us, and call for the destruction of Israel almost daily. They continue to enrich Uranium and fund terrorists. The idea is to get a bomb and then say "We have a Nuke, what ya gonna do about it?" They perceive weakness in Obama, something that they can take advantage of, just like Russia sees him, and China and others.
No nation with an oppressive government EVER negotiates unless they see an opportunity for concessions from the other party. If they don't see a tactical or strategic advantage in it for them they will play the "deny, delay" game. The leadership in North Korea is a perfect example. Kim jong Il seems perfectly willing to let his entire population starve to death rather than give up his grip on power. The rulers of Myanmar were perfectly willing to let thousands of additional people perish after a typhoon rather than admit that they were ill equipped to deal with the tragedy and allow aid workers into the country "enmasse". We may be hardasses at the negotiating table, but keeping loons like Kim jong Il and that nut job in Iran from possessing nuclear weapons keeps us and the rest of the world a little safer. Neville Chamberlain tried appeasement. 80 million people died because of it.
Obama would do well to remember that lesson, but I don't have any faith in his ability to recognize that his ego is getting in the way of his common sense. This isn't a schoolyard basketball game, it isn't a community organizing event.....This is the real world with alot of folks that genuinely dislike the freedoms we are used to, are jealous of our lifestyle, or just plain hate that we are the last remaining military superpower. Obama would also do well to remember a lesson from Ronald Reagan's play book. Reagan broke the back of the Soviet Union without firing a shot. He forced an end to the Cold War through simple economics. China, Russia, and a few others remember those lessons and are using them to THEIR advantage now.....We're over-extended, they know it, but not one idiot in Washington seems to get it. We need to ELIMINATE debt, not go on a willy-nilly spending spree to create new mountains of it. If we don't learn that VERY quickly the only thing we will be negotiating is the surrender of all that our Founding Fathers fought and died to create for us 233 years ago.....Not a fitting end to such a glorious beginning.
Good Day!
Another blogger wrote that he was encouraged by the student "rumblings" in Iran about a more open government. This is my response to that and how I view this "sudden" turn about in Iranian diplomacy.
There were "rumblings" in China too.....Remember how Tianammen Square turned out?.....The reality is that Iran has been fighting sanctions, delaying inspections, refusing inspections, denying they are doing anything other than "innocent nuclear research".....If you buy that then I have a bridge to sell you.....Because the whole time they are doing "deny, delay" they test new missile platforms, lob threats at us, and call for the destruction of Israel almost daily. They continue to enrich Uranium and fund terrorists. The idea is to get a bomb and then say "We have a Nuke, what ya gonna do about it?" They perceive weakness in Obama, something that they can take advantage of, just like Russia sees him, and China and others.
No nation with an oppressive government EVER negotiates unless they see an opportunity for concessions from the other party. If they don't see a tactical or strategic advantage in it for them they will play the "deny, delay" game. The leadership in North Korea is a perfect example. Kim jong Il seems perfectly willing to let his entire population starve to death rather than give up his grip on power. The rulers of Myanmar were perfectly willing to let thousands of additional people perish after a typhoon rather than admit that they were ill equipped to deal with the tragedy and allow aid workers into the country "enmasse". We may be hardasses at the negotiating table, but keeping loons like Kim jong Il and that nut job in Iran from possessing nuclear weapons keeps us and the rest of the world a little safer. Neville Chamberlain tried appeasement. 80 million people died because of it.
Obama would do well to remember that lesson, but I don't have any faith in his ability to recognize that his ego is getting in the way of his common sense. This isn't a schoolyard basketball game, it isn't a community organizing event.....This is the real world with alot of folks that genuinely dislike the freedoms we are used to, are jealous of our lifestyle, or just plain hate that we are the last remaining military superpower. Obama would also do well to remember a lesson from Ronald Reagan's play book. Reagan broke the back of the Soviet Union without firing a shot. He forced an end to the Cold War through simple economics. China, Russia, and a few others remember those lessons and are using them to THEIR advantage now.....We're over-extended, they know it, but not one idiot in Washington seems to get it. We need to ELIMINATE debt, not go on a willy-nilly spending spree to create new mountains of it. If we don't learn that VERY quickly the only thing we will be negotiating is the surrender of all that our Founding Fathers fought and died to create for us 233 years ago.....Not a fitting end to such a glorious beginning.
Good Day!
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