Barney Frank, Speaker Pelosi, Senate Majority Leader Reid and Obama others now control USA at this point.

It is becoming an alarm bell that our goingon 2 Trillion bail out to banks has no transparency, and is controlled in large part by Barney Frank, the man who holds such power on Capital Hill that it is becoming apparent that our problems are just beginning. He is joined by Speaker of the House Pelosi, and of course Senator Dodd, and Representative Barney Frank, Chairman of the House Finance Committee.  Also Representative Henry Waxman, who seems to be Chairman or head of five different committees that control much of what Congress is doing these days. Waxman seems to want to run everything.  We have a Current Secretary of the Treasury who claims he did not like or recommend the current bail out package?  Who then put this bail out together?  It clearly is not working and is designed to reward those who manufactured this economic crisis with taxpayer monies and we have only seen the beginning of this trend.  Along comes Barack Obama, our newly elected leader with an agenda that appears to be in line with the Democratic or Socialist trend, many consider him possibly a Marxist as well. The recessionary status is could soon become a full blown depression as a result.  The banks were certainly part of the Freddie Mac and Sallie Mae problem that was the generator of the real estate bubble, and in collusion with the Congressional cabal mentioned above, in fact pushed by the cabal actually perpetrated this crisis. Nancy Pelosi is a member of this cabal as is of course Harry Reid, the Senate Majority Leader.

In September 2003, Frank, then the ranking Democrat on the Financial Services Committee, opposed Bush administration proposals for increasing oversight of Fannie Mae and Freddie Mac by creating an independent agency to supervise the agencies. The proposal would have moved oversight from Congress and the Department of Housing and Urban Development to the new agency. Frank stated in 2003, “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”^[30] Frank stated that the bill would potentially “[weaken] the bargaining power of poorer families and their ability to get affordable housing“.^[31]

In an interview Nov. 6, House Financial Services Committee Chairman Barney Frank said the Fed’s disclosure is sufficient and that the risk the central bank is taking on is appropriate in the current economic climate. Frank said he has discussed the program with Timothy F. Geithner, president and chief executive officer of the Federal Reserve Bank of New York and a possible candidate to succeed Paulson as Treasury secretary.

Folks, we have little or no transparency over the massive amounts of money the taxpayers have now seen paid out to banks and other industry groups across the country, the genie is out of the bottle, and we don’t see the banks doing anything with that money that they were supposed to accomplish with our taxpayer money.  The bail out money controlled by Barney Frank has no transparency enforcement, no reporting requirements and apparently has put this funding totally in the hands of our banking systems.       

 

Barney Frank, remember is a gay member of the US House of Representatives and the man who was accused of running a gay escort service out of this residence in Washington DC, the man who now is Chairman of the House Finance Committee that controls the money authorized to bail out the banks. Barney is a very partisan left wing kind of guy,  representative of the kind of people now running our country.

 

What is happening here?  We are seeing out country making absolutely idiotic decisions that are sending out alarms to many in this country, but more importantly to the rest of the world, who are seeing a rapid decline in US policy in the Congress and now of course with the election of Barack Obama who seemingly is on the side of those who are creating this continuing saga of wrong moves that are not correcting the financial crisis now in full bloom.  The media seems to be completely in love with the election results while we see little or no comfort being taken to correct huge problems being further complicated and made worse by Congress, and potentially Obama.

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY&refer=worldwide

 

There are few who are taking a clear eyed look at the carnage going on, except for financial professionals that are on the opposing side of the actions of the Congressional and Democratic leadership. Of course Republicans and Conservatives are observing and in wonder that this group has the rains of power. More on the why and how this happened in later entries in this blog.  The mainstream press does not want to give credence to these negative reports, because they got what they fought for, a very liberal if not Marxist regime in place to make the world a better place.  It will not be a better place long, given the apparent actions in play in Congress and soon the White House. The Congress seems to be acting in place of the US banking system in deploying taxpayer money, that was already taken and given to the banks. It must be a wonder feeling that these leaders in Congress must feel as the endless saviors of all things needy with our money. The “change” that Barack Obama has been on a drum beat about has finally arrived.

Jim The Conservative.