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When the people fear the government, there is tyranny; When the government fears the people, there is liberty.  ~ Thomas Jefferson

 

Entries Tagged as 'More Government Reform (Control)'

Taliban kills 10 medical aid workers in northern Afghanistan

August 9th, 2010 · Homeland Security, National Security, War on Terrorism

“But America should make the treatment of known Terrorists out top priority”

By Joshua Partlow – Sunday, August 8, 2010

KABUL — Gunmen killed 10 members of a medical team, including six Americans, traveling in the rugged mountains of northern Afghanistan, demonstrating the reach of insurgents far from their traditional havens and shocking the expatriate community here.

The attack was one of the deadliest on civilian aid workers since the war began in 2001. That it occurred in Badakhshan province, a scenic mountain redoubt considered a peaceful refuge from the war, added to growing concern that the Taliban has seized on northern Afghanistan as its latest front.

The dead have not been officially identified, and the bodies not yet returned to Kabul, but Afghan and Western officials said the victims were thought to be members of a medical team working with a Christian charity group that has decades of experience in Afghanistan. That team, from the International Assistance Mission, lost contact with its office in Kabul on Wednesday, two days before the attack, said Dirk Frans, the group’s executive director.

“We’ve got a team that has gone missing, and then there are 10 people found dead. At the moment we’re working on the assumption that this is the same team,” Frans said.

The Taliban quickly asserted responsibility for the killings, saying the medical workers were “foreign spies” and were spreading Christianity. But police officials have not ruled out robbery as a motive, as the victims were stripped of their belongings after they were shot.

The team members — six Americans, one German, one Briton and four Afghans — were returning from neighboring Nurestan province, where they had spent several days administering eye care to impoverished villagers. They were traveling unarmed and without security guards, Frans said.

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Obama urges passage on a series of Democrat initiatives: More Government Control.

July 27th, 2010 · Accountability, Deception, Democrats, Ethics, Government, Government Control, Greed, Non-Transparency, Obama's Scheme, Selling Out the US, Terrorism from Within, Treason

By Michael D. Shear Washington Post staff writer
Tuesday, July 27, 2010; 4:11 PM

President Obama on Tuesday urged lawmakers to move forward on a series of Democratic initiatives before they leave next week for their summer break, saying voters “sent us here to represent their interests, not our own.”

His comments came after an hour-long, Oval Office meeting with congressional leaders from both parties. Obama called the meeting “productive,” but in his remarks, he repeatedly accused the Republicans of blocking legislation for political gain.

“We shouldn’t let America’s small businesses be held hostage to partisan politics,” Obama said as he continued an effort to portray Republicans as the party of big corporations and Wall Street firms.

In response, a spokesman for Sen. Minority Leader Mitch McConnell (R-Ky.) blamed Obama and the Democrats for delaying action on legislation to aid small businesses — by helping community banks offer loans — to focus on other Democratic priorities.

The main thing holding up the small business bill now is that Senator Reid keeps getting off of it: to pass the Wall Street bill, to pass the supplemental [spending bill] — and now at the president’s request, to take up a campaign finance bill,” said spokesman Don Stewart. “They need to make up their mind down there.”

The meeting with lawmakers is the result of a promise Obama made during the last State of the Union speech to meet regularly with his adversaries. But it comes as both parties have largely retreated into a defensive crouch ahead of elections this fall.

In recent days, Obama has notched up his partisan rhetoric, taking aim at specific members of Congress and shedding some of the attempts at bipartisanship that characterized earlier periods of his presidency.

Speaking in the Rose Garden, Obama said Republicans have repeatedly used parliamentary tactics to block his appointments to the judiciary, refusing to allow final votes on many qualified candidates. He said he urged McConnell to “fill the vacancies that continue to plague the judiciary.”

He also urged House lawmakers to pass new funding for the war efforts in Afghanistan, saying the new strategy he put in place last December is the right one to secure that country and prevent threats to America.

“Now we have to see that strategy through,” he said.

But the president appeared to concede that some of his initiatives will fail this year. He said the Senate should pass a pared-down energy bill aimed at responding to the oil spill in the Gulf of Mexico. But he made it clear that legislation — which does not impose a cap on carbon — does not go far enough for him.

“It’s only the first step,” Obama said. “I intend to keep pushing for broader reform, including climate legislation.”

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Democrats passes financial reform bill before ousted.

July 17th, 2010 · Banking Industry, Congress, Deception, Democrats, Federal Spending, Finance, Government, Government Control, Non-Transparency, Obama's Scheme, Selling Out the US, Tax Dollars, Taxes

By Brady Dennis Washington Post Staff Writer
Friday, July 16, 2010

Congress gave final approval Thursday to the most ambitious overhaul of financial regulation in generations, ending more than a year of wrangling over the shape of the new rules and shifting the government’s focus to the monumental task of implementing them.

The final Senate vote, which came almost two years after the nation’s financial system nearly collapsed, was a significant legislative victory for President Obama, who had pledged to rein in the reckless Wall Street behavior behind the crisis and to right the government regulation that failed to prevent it.

The massive bill establishes an independent consumer bureau within the Federal Reserve to protect borrowers against abuses in mortgage, credit card and some other types of lending. The legislation also gives the government new power to seize and shut down large, troubled financial companies — like the failed investment bank Lehman Brothers — and sets up a council of federal regulators to watch for threats to the financial system.

Under the new rules, the vast market for derivatives, complex financial instruments that helped fuel the crisis, will be subject to government oversight. Shareholders, meanwhile, will gain more say on how corporate executives are paid.

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Obama calls for comprehensive immigration bill at American University

July 1st, 2010 · Accountability, Corruption, Deception, Democrats, Ethics, Foreign Policy, Government, Government Control, Immigration, Immigration, Non-Transparency, Obama's Scheme, Selling Out the US

By Michael W. Savage, Anne E. Kornblut and Debbi Wilgoren Washington Post Staff Writer
Thursday, July 1, 2010; 1:24 PM

President Obama on Thursday acknowledged that a failure by Washington to address immigration has led to a system that is “broken and dangerous,” as he attempted to make the case for comprehensive immigration reform.

Speaking at American University, Obama conceded that pressure had grown over the issue because of what he said was Congress’s reluctance to act. He backed a plan to give America’s 11 million undocumented migrants a pathway to citizenship, together with measures to further secure the southwestern border. But he said reform would be impossible while the GOP blocked attempts.

“I’m ready to move, the majority of Democrats are ready to move and I believe the majority of Americans are ready to move,” Obama said. He urged Republicans to put partisanship to one side to “resolve this problem once and for all.”

However, the president did not outline any details for immigration reform or set a timetable for dealing with a reform bill during the half-hour speech. That will disappoint those pushing Obama to fulfill his election pledge to take up the issue.

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The Dodd-Frank Financial Fiasco

July 1st, 2010 · Banking Industry, Congress, Deception, Democrats, Ethics, Federal Spending, Finance, Government Control, Greed, Money Lost, Obama's Scheme, Selling Out the US, Treason, Unemployment

The bill all but guarantees bailouts as far as the eye can see, while failing to address real problems like Fan and Fred and our outdated bankruptcy code.

By JOHN B. TAYLOR

The sheer complexity of the 2,319-page Dodd-Frank financial reform bill is certainly a threat to future economic growth. But if you sift through the many sections and subsections, you find much more than complexity to worry about.

The main problem with the bill is that it is based on a misdiagnosis of the causes of the financial crisis, which is not surprising since the bill was rolled out before the congressionally mandated Financial Crisis Inquiry Commission finished its diagnosis.

The biggest misdiagnosis is the presumption that the government did not have enough power to avoid the crisis. But the Federal Reserve had the power to avoid the monetary excesses that accelerated the housing boom that went bust in 2007. The New York Fed had the power to stop Citigroup’s questionable lending and trading decisions and, with hundreds of regulators on the premises of such large banks, should have had the information to do so. The Securities and Exchange Commission (SEC) could have insisted on reasonable liquidity rules to prevent investment banks from relying so much on short-term borrowing through repurchase agreements to fund long-term investments. And the Treasury working with the Fed had the power to intervene with troubled financial firms, and in fact used this power in a highly discretionary way to create an on-again off-again bailout policy that spooked the markets and led to the panic in the fall of 2008.

But instead of trying to make implementation of existing government regulations more effective, the bill vastly increases the power of government in ways that are unrelated to the recent crisis and may even encourage future crises.

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Boehner defends criticism of financial overhaul as excessive

June 30th, 2010 · Accountability, Banking Industry, Change of Power, Congress, Deception, Democrats, Ethics, Federal Spending, Finance, Greed, Money Lost, Non-Transparency, Obama's Scheme, Selling Out the US, Tax Dollars, Taxes, Terrorism from Within, Treasury

By Dan Balz Washington Post Staff Writer
Wednesday, June 30, 2010; 2:30 PM

House Minority Leader John Boehner (R-Ohio) fired back at the White House Wednesday, arguing that “they’re the ones who are out of touch” with the American people while defending his critique of the financial regulatory reform bill as excessive regulation.

Led by President Obama, Democrats pounced on the Republican leader for comments he made to the Pittsburgh Tribune-Review earlier in the week, when he likened the pending financial legislation to “killing an ant with a nuclear weapon.”

That brought a quick rebuke from White House Press Secretary Robert Gibbs on Tuesday, and Obama was expected to elevate the dispute on Wednesday by seizing on Boehner’s words during remarks in Racine, Wis.

“If the Republican leader is that out of touch with the struggles facing the American people, he should come here to Racine and ask people if they think the financial crisis was an ant . . . These Americans don’t believe the financial crisis was an ant,” Obama said in prepared remarks that were released by the White House.

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Financial regulation bill gets last-minute amendment from Sen. Chris Dodd: Pass Now, Fix Later

May 19th, 2010 · Banking Industry, Change of Power, Congress, Corruption, Deception, Democrats, Ethics, Finance, Government, Government Control, Non-Transparency, Obama's Scheme, Selling Out the US, Tax Dollars, Taxes, Terrorism from Within

By Brady Dennis Washington Post Staff Writer
Wednesday, May 19, 2010

According to the note scribbled at the top of the first page, Amendment 4110 arrived Tuesday at 11:57 a.m., three minutes shy of the deadline for lawmakers still hoping to alter the massive financial overhaul bill before the Senate.

It was only five pages and carried a lone, handwritten signature: Chris Dodd.

Without announcement or fanfare, the Connecticut Democrat — chairman of the Senate banking committee and chief architect of the pending legislation — was quietly trying to resolve one of the few remaining disputes that could impede the passage of the landmark bill: a disagreement over financial instruments called derivatives that has sent shudders through Wall Street.

At issue was a single section a third of the way through the massive 1,400-page bill that could force a handful of the nation’s biggest banks to spin off their billion-dollar businesses in trading derivatives.

Dodd offered a clever Washington solution aimed to appease both friends and foes of the provision. His amendment preserves the tough language — but it postpones any action for two years so it can be studied. And it assigns that study to a new council of regulators, headed by Treasury Secretary Timothy F. Geithner, whose members have serious reservations about such a dramatic measure and may very well kill it in the end.

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Provision benefiting banks to remain in financial overhaul bill: Earmarks and Campaigning

May 18th, 2010 · Accountability, Banking Industry, Congress, Corruption, Deception, Economy, Ethics, Federal Spending, Finance, Government Control, Greed, Money Lost, Non-Transparency, Politics, Selling Out the US, Tax Dollars, Taxes, Terrorism from Within, Treasury

By David Cho Washington Post Staff Writer
Tuesday, May 18, 2010; 11:51 AM

Goldman Sachs, Morgan Stanley and other big Wall Street firms were able for years to set up commercial banking businesses while avoiding the strict regulation this kind of activity usually entails.

But the law that made this practice possible has been preserved — despite opposition from the Obama administration — in the bill sponsored by Sen. Christopher J. Dodd (D-Conn.) remaking financial regulations and closing loopholes in oversight.

Critics say the provision has survived because the law helps create jobs in a few states with influential senators, including Senate Majority Leader Harry M. Reid (D-Nev.) and Sen. Robert F. Bennett (R-Utah), the second-highest-ranking Republican on the banking committee.

Retaining the law is among the concessions administration officials accepted as they pressed lawmakers to approve the far-reaching legislation. The White House and leading Democrats in the Senate have vowed to squash all carve-outs for special interests.

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Senate climate bill emerges without key GOP support: Oil Spill in Gulf to Boost Bill Efforts

May 12th, 2010 · Climate, Congress, Deception, Democrats, Ethics, Government Control, Greed, Non-Transparency, Tax Dollars, Taxes, Terrorism from Within

By Juliet Eilperin Washington Post Staff Writer
Wednesday, May 12, 2010; 2:32 PM

Sens. John F. Kerry (D-Mass.) and Joseph I. Lieberman (I-Conn.) unveiled a compromise climate bill Wednesday, hoping public concern over the massive oil spill in the gulf will boost the measure’s long-shot chances for passage.

While the bill is different from the House-passed climate bill in several respects — it seeks carbon reductions from separate sectors of the economy rather than imposing a nationwide cap, and it provides more incentives for both new nuclear power and offshore oil drilling — it still faces a steep hill in attracting the 60 votes needed for passage.

Senate Majority Leader Harry Reid (D-Nev.) has made it clear the climate bill needs to be within striking distance of the required votes before he will bring it up to the floor.

The single GOP senator who helped craft the proposal, South Carolina’s Lindsey O. Graham, abandoned the effort last month. He said last week that the bill stood no chance of passage given the oil spill and Senate Democrats’ desire to pass immigration reform this year.

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Geithner and the Democrats want to include bank tax in overhaul

May 5th, 2010 · Banking Industry, Congress, Corruption, Deception, Democrats, Ethics, Federal Spending, Finance, Government, Government Control, Money Lost, Non-Transparency, Obama's Scheme, Tax Dollars, Taxes, Terrorism from Within, Treasury

By David Cho and Brady Dennis Washington Post Staff Writer
Wednesday, May 5, 2010

Lawmakers seeking to overhaul financial industry regulations grappled Tuesday with the question of how to cover the cost of federal bailouts.

To pay for the emergency assistance provided to firms during the recent crisis, Treasury Secretary Timothy F. Geithner pressed senators to pass a tax on Wall Street and other big financial companies, arguing that the levy would discourage risky activities and help the government recoup its money.

Despite the push from the Obama administration, the prospects for the “bank tax” remain uncertain. During a congressional hearing Tuesday, Geithner said the tax provision was “an important complement” to a bill now before the Senate to overhaul financial regulations.

But some Democrats said they are reluctant to include the tax because it could complicate prospects for the hotly contested overhaul bill. They added that Sen. Max Baucus (D-Mont.), chairman of the Senate Finance Committee, is instead considering whether to include a new bank tax in a bill he plans to introduce extending some existing tax cuts.

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