Skip to comments.Crime Inc.: What the 'Greening of America' Really Means
Posted on 05/06/2010 9:46:26 AM PDT by day21221
Crime Inc.: What the 'Greening of America' Really Means
It's a safe bet that most Americans' first exposure to the concept of carbon trading or cap-and-trade legislation came during the most recent presidential campaign when both candidates advocated the need to make protecting the environment a government mandate instead of the moral obligation it's always been. In the past few months President Barack Obama has repeatedly stated that a comprehensive energy/environmental law, including cap-and-trade, is an absolute priority of his administration. Cap-and-Trade Simply put, the idea behind the cap-and-trade plan is this:
The federal government would set limits or cap the amount of pollutant a business could create. If the business chose to emit levels exceeding the cap they would have to find a business not using its full allotment and purchase the surplus from them.
(Excerpt) Read more at foxnews.com ...
These 4 bills were all introduced on the same day in the Michigan legislature. People have asked when the energy producers aren’t screaming bloody murder about it but they stand to gain a great deal. They’ll produce less energy, charge more for what they do produce, and then sell the carbon credits from reduced production at a profit.
House Bill 6069 (Increase mandated state power production declines )
Introduced by Rep. Gary McDowell (D) on April 22, 2010, to revise the mandating that natural gas utilities reduce the amount of energy they provide by .75 percent each year beginning in 2013. The bill would require that beginning in 2015 utilities reduce the amount of gas they provide by 1.5 percent, and 2.0 percent beginning in 2016.
House Bill 6068 (Increase mandated state power production declines )
Introduced by Rep. Joan Bauer (D) on April 22, 2010, to revise the mandating that natural gas utilities reduce the amount of gas they provide by .75 percent each year beginning in 2013. The bill would require that beginning in 2014 utilities reduce the amount of gas they provide by 1.25 percent, and 2.0 percent beginning in 2016
House Bill 6067 (Increase mandated state power production declines )
Introduced by Rep. Lisa Brown (D) on April 22, 2010, to revise the mandating that natural gas utilities reduce the amount of gas they provide by .75 percent each year beginning in 2013. The bill would require that beginning in 2013 utilities reduce the amount of gas they provide by 1.0 percent over the previous year.
House Bill 6063 (Increase mandated state power production declines )
Introduced by Rep. Fred Miller (D) on April 22, 2010, to revise the mandating that electric utilities reduce the amount of energy they provide by 1 percent each year beginning in 2012. The bill would require that beginning in 2013 utilities reduce the amount of power they provide by 1.25 percent over the previous year.
Obama: My Plan Makes Electricity Rates Skyrocket
Likewise, the states of Wyoming, New Mexico, Utah, and Arizona demand that no more trains run in Colorado than in any of these neighboring states.
A group headed by Orren Boyle demands the passage of a Preservation of Livelihood Law, which would limit the production of Rearden Metal, and other businessmen demand passage of a Fair Share Law, which would give an equal amount of Rearden Metal to any customer who wants it....
Socialist rulers have passed a series of directives in accordance with the demands made by the unions, Colorado's neighboring states, and mooching businessmen. A special tax has been levied on Colorado so it can assist its financially needier neighbors.
-Atlas Shrugged, Ayn Rand ("Cliffs Notes" summary, Chapter 10)
Any of this sounding familiar yet?
So nice of them to admit this. I should sue them for infringement of my free market environmental management business method patent, finally granted this year, the application of which predates theirs as it was filed in March 2001. My system has real accountability in it; theirs does not.
Does somebody know how to get this to Beck? He needs to talk to me anyway about the whole enviro-racket and what to do about it. I'm nearly a decade ahead of him.
A must read for the followers of Climate Change Inc., a wholly owned subsidiary of Al Gore, Franklin Raines, the obamaniation; the entire RAT party, Limpy Lindsey Graham; GE, Cisco the Joyce Foundation; Fannie Mae, et al, ad infinitum, ad nauseum.
Great idea-—get ahold of Beck. Don’t know how to guide you there, maybe one of the FReepers following the climate change sleight-of-hand could help-—like Steel Your Faith maybe?
Raines cooked the FM books creating losses of $9B (that we know of) to create bonuses for himself .......The Securities and Exchange Commission said Raines broke accounting rules by playing with risky derivatives.
Yet he walked away w/ $90 million dollars, a $26 million parachute PLUS a MONTHLY pension of $116,300 for life.
Raines owns options giving him $5.8 million in net profit after redeeming them, plus another $8.7 million in deferred compensation for his six years at the helm. Raines has already collected $4.87 million in special performance shares this year.
He keeps $5 million of paid-up life insurance. He and his spouse get free medical and dental benefits for life, worth over $1 million.
Raines earned $20 million in salary, bonuses and stock awards (that we know of) in one year.
After he was fired, Raines told the FM board that he's entitled to get paychecks until next June 22 giving him another $600,000, which triggers a $2,000 monthly raise in his lifetime pension. He also says he's entitled to disputed options with a gross value of about $5.6 million.
To keep Raines happy within philanthropic circles, Fannie Mae will match Raines' charitable contributions by $10,000 a year.
Franklin Raines looted and pillaged Fannie Mae as Clinton's appointee. Now he's hooked up with Ohaha. Does that mean the Clintons get a cut of the CCX scam? (/snix)
Absolutely superb research on a charter member of Climate Change, Inc., a criminal enterprise. In Franky’s case, spinning from the looting of Fannie into an oh so warm and fuzzy sideline of stealing from the sheeple.
Here's something else you may want to add to the Frankie file, the Fannie Mae executive who brought down Wall Street.
Franklin Raines: was a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregularities in Fannie Mae's accounting activities.
At the time of his departure The Wall Street Journal noted, " Raines, who long defended the company's accounting despite mounting evidence that it wasn't proper, issued a statement late Tuesday conceding that "mistakes were made" and saying he would assume responsibility as he had earlier promised. News reports indicate the company was under growing pressure from regulators to shake up its management in the wake of findings that the company's books ran afoul of generally accepted accounting principles for four years."
Fannie Mae had to reduce its surplus by $9 billion. Raines left with a "golden parachute valued at $240 Million in benefits.
The Government filed suit against Raines when the depth of the accounting scandal became clear. http://housingdoom.com/2006/12/18/fannie-charges/
The Government noted, "The 101 charges reveal how the individuals improperly manipulated earnings to maximize their bonuses, while knowingly neglecting accounting systems and internal controls, misapplying over twenty accounting principles and misleading the regulator and the public.
The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate capital reports that enabled them to grow Fannie Mae in an unsafe and unsound manner."
These charges were made in 2006. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the mis-stated Fannie Mae profits.
(Did he ever return the money?)
Great post. This massive scam is finally being illuminated.
Franklin Raines’ Letter to Shareholders——From 2003 Fannie Mae Annual Report
EXCERPT Ten years ago, for example, the typical conforming mortgage required a down payment of 10 to 20 percent, and low-down payment mortgages were considered too risky. But then we helped to standardize the 3 to 5 percent down payment loan, brought it to global capital markets, and made it available to lenders and communities nationwide. Now low-down payment loans are commonplace. And we just adopted a new variance in our underwriting standards that will make the $500 down payment loan widely available as well...
In 1994, we pledged to provide $1 trillion in capital to ten million underserved families by the end of 2000. Thanks to our housing and industry partners, we met that goal early. Then in 2000, we launched our American Dream Commitment, a pledge to provide $2 trillion in capital to 18 million underserved families by the year 2010, including $400 billion targeted specifically for minority families (later raised to $700 billion in response to President Bushs Minority Homeownership Initiative).
After four of the strongest years in housing and mortgage finance history, weve already surpassed the top-line goals of this commitment. But our work is far from complete.
So in January 2004, we announced our Expanded American Dream Commitment and pledged significant new resources to tackle Americas toughest housing challenges. Our new commitment has three main goals.
First, we will expand access to homeownership for six million first-time home buyers in the next ten years, including 1.8 million minority first-time home buyers.We also will help raise the national minority homeownership rate from 49 percent to 55 percent, with the ultimate goal of closing it entirely.
Second, we will help new and long-term homeowners stay in their homes through a series of initiatives, and commit $15 billion to preserve affordable rental housing and $1.5 billion to support the revitalization of public housing communities.
Third, we will increase the supply of affordable housing and support community development activities in at least 1,000 neighborhoods across the country through our American Communities Fund, and through targeted investments like Low-Income Housing Tax Credits that help finance affordable rental housing.
It is because of initiatives like our Trillion Dollar Commitment and our American Dream Commitment that we have exceeded our HUD affordable housing goals for ten consecutive years. And we have increased our financing of mortgages to African Americans by over 400 percent and to Hispanic Americans by 470 percent in the past ten years, compared with a 205 percent increase in overall financing. Our Expanded American Dream Commitment will help us do even more.
(Did he ever return the money?)
(Did he ever return the money?)
THE QUESTION OF THE DAY!!!!!
Glenn Beck’s got Frankie by the scruff of his miserable neck——hope Beck reports on the $$$ Frankie stole.
You’re right—Beck is on a “roll of truth” and if he can find no repayment of the fine, it’ll be a killer for Frankie and his co-conspirators.
Dang! If he got that chin up any higher, I suspect that Benito ObaMao would fall backwards.
You definitely should get in touch with Beck. I have read many of your postings over the years, and I think you could help him a lot here.
So many hands in the piggy bank one can hardly list them all. And the masses of American voters remain clueless as to what is going on.
Good summary Liz of a true criminal at work. Raines should be behind bars for at least a fifty years sentence for starters. He is a crook of the worst kind.