Global Commie Corporate Unionist labor's ties to the Commie White House ;

Less known is just how close
Obama administration interests
align with the big firms that benefit
most from the TARP bailout.

At Goldman Sachs, the nation's
largest investment bank, four of the
five in-house lobbyists were
Democratic Capitol Hill staffers -
the remaining one gave $1,000 to
Hillary Clinton last election.

Goldman Sachs alone has given
nearly $900,000 since January 2009
to congressional candidates, with 69%
of that cash lining Democrat pockets.

Finally, then-candidate Obama
collected almost $1 million from
Goldman executives and employees
in 2008, more than the combined
Goldman haul of every Republican
running for president, Senate
and the House.

So what have Wall Street lobbyists
bought with their campaign cash and
high priced lobbyists?

A bill that gives permanent TARP-like
authority to Washington regulators, thus
enshrining Washington as a permanent
bailout machine.

Specifically, the bill :

- Creates a protected class
of too big to fail firms

- Creates permanent bailout authority

- Provides for seizure
of private property without meaningful
judicial review

- Establishes a $50 billion fund
to pay for bailouts

- Opens a "line of credit"
to the Treasury for additional
government funding

- Authorizes regulators
to guarantee the debt
of solvent banks

- Imposes one-size-fits-all
reform in derivative markets
http://blog.heritage.org/2010/04/23/morning-bell-the-fatal-flaws-of-the-wall-street-bailout-bill/

Repeal : Global Commie
Derivatives Reform ;

Global Commies Spend & Tax
While The Taxpayer Foots The Bill :

Senate Agriculture Committee
mark-up of derivatives reform
legislation revealed that the "reform"
will cost taxpayers big time : a 50%
increase in staffing (and other costs)
at the Commodity Futures Trading
Commission (CFTC), the agency
that would enforce the new
regulations.

CFTC Chairman Gary Gensler,
announced at the mark-up that
the bill would require 250 new
employees and a "substantial"
investment in new technology
above the approximately 500
employees and $146 million
the CFTC will spend this year.

What's more, Gensler said those
costs are lower than they might
otherwise be because the bill gives
the CFTC authority to require
derivatives clearinghouses to install
and pay for CFTC-mandated electronic
monitoring and compliance systems.

Gensler did not, however,
provide any estimate of how
much the government-mandated
spyware would "save."

It is easy to see how the new
government mandates will increase
costs for derivatives trading firms.

Now we're told it will also cost
taxpayers another $75 million or so.

Of course the real cost of
government regulation in distorting
markets and increasing private sector
costs is many times the direct costs of
housing and feeding the bureaucrats
http://blog.heritage.org/2010/04/22/50-more-bureaucrats-government-%e2%80%9ccost-savings%e2%80%9d-for-financial-derivatives-reform/

Repeal : Global Commie Corporate
Unionists & Taxpayer Funded
Giveaways & Handouts ;

The Senate's plan
provides for bailouts
for the creditors of failing firms.

Section 204 of the bill
provides that the FDIC
(in closing failing firms) may
".make available funds for
the orderly liquidation of [a]
covered financial institution."

The situation is similar
to that of the AIG bailout
in 2008, where shareholders
took steep losses, but creditors -
including some of the largest financial
companies in the world - were held
harmless through taxpayer largesse.
This was a bailout.

There are other problems
with the bill too.

The stated purpose
is to subject them to
enhanced regulation.

But the practical effect
would be to signal to investors
worldwide that the U.S. stands
behind these firms.

Just as Fannie Mae
and Freddie Mac enjoyed
implicit federal guarantees,
so would these firms.

There are other problems too.
The bill, under the guise of
consumer regulation, limits the
choices of those very consumers.

It opens the doors
to allow activist groups
to abuse the corporate
governance system.

And, it does nothing
to reform government-sponsored
enterprises such as Fannie Mae
and Freddie Mac, who played
leading roles in the housing bubble,
and whose subsequent collapse put
taxpayers on the hook
for over $100 billion
http://blog.heritage.org/2010/04/22/31996/

Global Commie Corporate Unionist
Earth Day ;

Global Commie Environmental
& Energy Schemes :

The problem with Al Gore's twisted
version of capitalism is that he and
other green investors get rich only
when regulations cause consumers'
energy bills to skyrocket.

If Al Gore wants to invest his money
in green technology, he can do as he
pleases.

The taxpayer does not have
such autonomy.

Along with Gore's investments, the
government is taking other people's
money to invest in these projects who
do not have a say in the matter - what
economist Frederic Bastiat calls
legalized theft :

"The law takes from some
persons what belongs to them, and
gives it to other persons to whom it
does not belong.

"The law benefits one citizen at
the expense of another by doing what
the citizen himself cannot do without
committing a crime."

Of course the reason renewable
energy needs a government crutch is
because they can't compete in the
market otherwise.

With cap and trade, a mandated
renewable electricity standard, and
billions of dollars in taxpayer-funded
green energy investments, it's no
surprise "few have put as much money
behind their advocacy as Mr. Gore and
are as well positioned to profit from this
green transformation, if and when it comes."

But it's not just Gore.
Large energy companies are hedging
their bets on political policies designed
to make renewable energy more
competitive with taxpayer support.

The name of the game
is special interest politicking
in Washington.

Few will win at the expense of many
http://blog.heritage.org/2010/04/22/the-cost-of-al-gore%e2%80%99s-renewable-energy-plan/