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  • Obama“very clear about putting a price on carbon" Everyone must pay!

    06/29/2010 10:23:59 AM PDT · by milwguy · 53 replies · 1+ views
    politico ^ | 6/29/2010 | p
    Sen. John Kerry (D-Mass.) said after meeting with President Obama and other senators on Tuesday that he is ready to “scale back” the reach of energy legislation to get Republican support. “We believe we have compromised significantly, but we are prepared to compromise further,” he told reporters outside the White House. “If Republicans can step forward, we can find a place of compromise.” Kerry said that in the meeting with nearly two dozen senators of both parties, Obama was “very clear about putting a price on carbon” and curbing greenhouse gases. Sen. Joe Lieberman (I-Conn.) said Obama made an “effective...
  • Fannie-Freddie Bailout Could Cost Taxpayers $1 Trillion

    06/29/2010 9:31:15 AM PDT · by NormsRevenge · 27 replies
    CNBC ^ | 6/29/10 | Steve Liesman
    For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg. According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, some experts caution, the cost to the taxpayer could hit as much as $1 trillion. Two things are clear: Taxpayers don’t want to foot the bill, and Fannie and Freddie, taken over by the government in 2008 to stanch the financial bloodletting, need a major overhaul.
  • Senate Democrats poised to start energy bill (includes carbon cap on utilities)

    06/26/2010 11:14:54 PM PDT · by SmartInsight · 34 replies
    LA Times ^ | June 27, 2010 | Lisa Mascaro and Richard Simon
    Legislation could include a carbon cap on utility companies. With the gulf oil spill creating political opportunity, Senate Democrats will begin crafting a sweeping energy bill this week that could include a first-ever, though more modest, cap on global-warming pollution. Republicans dismiss such a cap-and-trade system as a new tax on households and business — "cap-and-tax," they call it.
  • Progressive Regression | Gulf Oil Disaster

    06/26/2010 3:07:32 PM PDT · by NaturalBornConservative · 3 replies
    Natural Born Conservative ^ | June 26, 2010 | Larry Walker, Jr.
    Government Regulation vs. Self-RegulationBy: Larry Walker, Jr.The Progressive Obama Administration’s magical solution for all problems American is more government regulation. But is government regulation really better than self-regulation?Companies like BP have a direct interest in the safe, efficient drilling and harvesting of oil. Would it benefit a private oil company like BP to carelessly blow up its own oil well and lose millions of gallons of the precious black gold into the sea? No. Did it benefit Exxon to crash the Valdez and leak millions of gallons of oil off the coast of Alaska? No. So every company has a...
  • House and Senate in Deal on Financial System Reform (Say good-bye to American Banks)

    06/25/2010 3:27:13 AM PDT · by tobyhill · 21 replies
    ny times ^ | 6/25/2010 | edward wyatt
    Nearly two years after the American financial system teetered on the verge of collapse, congressional negotiators reached agreement early Friday morning to reconcile competing versions of the biggest overhaul of financial regulations since the Great Depression. A 20-hour marathon by members of a House-Senate conference committee to complete work on toughened financial regulations culminated at 5:39 a.m. Friday in agreements on the two most contentious portions of the financial regulatory overhaul and a host of other provisions. On a party-line vote, the House conferees voted 20-11 to approve the bill; the Senate conferees voted 7-5 to approve.
  • Joe Scarborough Justifies Decision Not to Talk about Gore Sex Allegation on MSNBC; Calls It Unfair

    06/24/2010 9:59:46 AM PDT · by Rufus2007 · 43 replies
    Newsbusters ^ | June 24, 2010 | Jeff Poor
    It's already been documented that the media have, at least initially, ignored the allegation that global warming alarmist-in-chief and former Vice President Al Gore faced a sexual assault charge in 2006. But why? Although not know for its enlightening commentary, ABC's June 24 broadcast of "The View" offered an answer for that question. Subbing a moderator for the show's panel was MSNBC "Morning Joe" host Joe Scarborough, who explained their decision to ignore it was based on "insufficient evidence" despite the police report documenting the allegation. "This is an interesting story," Scarborough said. "A 2006 police report surfaced of a...
  • NBC's Williams Blames Obama's Plummeting Approval on Getting Dragged Into Gulf Oil Leak

    06/23/2010 10:28:37 PM PDT · by Justaham · 17 replies ^ | 6-23-10 | Brent Baker
    Unlike Katie Couric on Monday night, on Wednesday evening NBC's Brian Williams didn't hide the bad news for President Obama in the network's latest poll, but Williams and Savannah Guthrie sure seemed to lament the public mood's swing against Obama as Williams attributed it to how Obama “had to touch” the gulf oil leak, “he had to own it and now he's getting tagged with how he's reacting to it.” As if Obama had nothing to do with it, Guthrie agreed he's “had a barrage of bad headlines on some of these very issues of leadership, handling a crisis...” “If...

    06/23/2010 7:29:42 AM PDT · by Piranha · 20 replies
    Breitbart TV ^ | Unknown | Organizing for America
    Here is a video of Obama speaking to Organizing for America about the way that they plan to use the oil spill in the gulf to redo the American economy. Does anyone really believe that Obama is trying in good faith to stop the spill or mitigate the damage it is causing?
  • Fannie and Freddie: still bleeding your $$

    06/23/2010 3:14:43 AM PDT · by Scanian · 6 replies
    NY Post ^ | June 22, 2010 | SCOTT GARRETT
    Contrary to what the Obama administration would have you believe, the biggest recipients of taxpayer funds during the financial crisis have not been Wall Street banks -- but the toxic twins, mortgage behemoths Fannie Mae and Freddie Mac. And the House and Senate are now finalizing legislation to reform the financial sector -- yet the bill will leave the biggest bailout recipients untouched. In fact, Fannie and Freddie are guaranteed to continue siphoning money from American taxpayers. That's right: The Democratic majority in Congress has made no attempt to reform these two entities, which have already cost us $145 billion....
  • Cracks Show BP Battled Well Two Months Before Blast

    06/21/2010 10:01:45 PM PDT · by Kartographer · 63 replies
    BusinessWeek ^ | 6/17/10 | Alison Fitzgerald and Joe Carroll
    BP Plc was struggling to seal cracks in its Macondo well as far back as February, more than two months before an explosion killed 11 and spewed oil into the Gulf of Mexico. It took 10 days to plug the first cracks, according to reports BP filed with the Minerals Management Service that were later delivered to congressional investigators. Cracks in the surrounding rock continued to complicate the drilling operation during the ensuing weeks. Left unsealed, they can allow explosive natural gas to rush up the shaft. “Once they realized they had oil down there, all the decisions they made...
  • Guess who holds patent for carbon trading plan

    06/18/2010 10:35:41 AM PDT · by day21221 · 23 replies · 1,063+ views ^ | June 18, 2010 | Jerome R. Corsi
    Guess who holds patent for carbon trading plan Disgraced Fannie Mae CEO set to cash in for millions Obama housing adviser Franklin Raines Former Clinton and Obama budget adviser Franklin Raines owns a key carbon-emissions patent he developed as CEO of the government-sponsored mortgage giant Fannie Mae, positioning him and his partners to make millions of dollars if it is used in any carbon-capping scheme implemented by the Obama administration. Raines and his associates led Fannie Mae and Congress to believe Fannie Mae owned the patent, despite public records to the contrary, a WND investigation has found. Raines and his...
  • Climate-energy bill cost for consumers: up to $146 a year (BS! It will be 10 times as much!)

    06/17/2010 3:52:06 AM PDT · by tobyhill · 17 replies · 286+ views
    Christian Science Monitor ^ | 6/17/2010 | Mark Clayton
    A stalled climate-energy bill in the Senate got a boost Tuesday from federal regulators who reported it would not be too costly, then from President Obama. "The transition to clean energy has the potential to grow our economy and create millions of jobs – but only if we accelerate that transition," Mr. Obama said in his Oval Office speech. He touted a "strong and comprehensive energy and climate bill – a bill that finally makes clean energy the profitable kind of energy for America's businesses." That's been the billion-dollar question surrounding climate legislation: How much will it cost? The Environmental...
  • Fannie Mae, Freddie Mac to delist shares from NYSE (Breaking)

    06/16/2010 6:06:52 AM PDT · by SonOfDarkSkies · 95 replies · 3,660+ views
    WaPo/AP ^ | 6/16/2010
    <p>Government-sponsored mortgage purchasers Fannie Mae and Freddie Mac plan to delist their shares from the New York Stock Exchange.</p>
  • Obama still supports putting price on carbon

    06/15/2010 4:49:48 PM PDT · by Sub-Driver · 30 replies · 846+ views
    Obama still supports putting price on carbon 6:19pm EDT WASHINGTON (Reuters) - President Barack Obama still believes that putting a price on carbon emissions is the only way to make serious progress on climate change, a senior U.S. administration official said on Tuesday. Obama is to deliver a televised speech at 8 p.m. EDT (0000 GMT) in which he will aim to restore public confidence in his handling of BP Plc's Gulf of Mexico oil spill and drive forward his ambitious plans to cut U.S. dependence on fossil fuels.
  • Fannie-Freddie Fix- Taxpayers on Hook for Another $ 1 Trillion Bailout in Worst Case Scenario

    06/14/2010 12:53:21 PM PDT · by Qbert · 7 replies · 279+ views
    The Big Picture ^ | 6/14/2010 | Barry Ritholtz
    Post-receivership, the GSEs have become a government sanctioned back door bailout of regular banks. Any mortgage that cannot be refi’d or modified ends up on their books. This includes mortgages on the verge of default and foreclosure. How much is the worst case scenario for the ongoing bailout of the banking sector, plus Fannie’s and Freddie’s own screw ups? If everything goes precisely wrong, taxpayers are potentially on the hook for another $1 trillion bailout: The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will...
  • White House Attacks Bid to Overturn Greenhouse-Gas Rules

    06/08/2010 1:42:59 PM PDT · by Ernest_at_the_Beach · 25 replies · 70+ views
    Wall Street journal ^ | JUNE 8, 2010, 2:22 P.M. ET | By SIOBHAN HUGHES
    WASHINGTON—The Obama administration went on offense on Tuesday, saying it "strongly opposes" an effort by Senate Republicans to overturn new rules to curb greenhouse-gas emissions from power plants, oil refineries and other large emitters. The statement puts the White House on the record for the first time against an effort by Sen. Lisa Murkowski (R., Alaska) to overturn the Environmental Protection Agency regulations. The measure, known as a "disapproval resolution," comes up for a vote Thursday in the U.S. Senate. Last month the EPA finalized the rules, which, starting next year, would require new or upgraded facilities to hold permits...
  • EDITORIAL: Obama's financial Frankenstein [Fannie and Freddie]

    05/27/2010 4:56:25 PM PDT · by jazusamo · 6 replies · 309+ views
    The Washington Times ^ | May 27, 2010 | Editorial
    The oil spill in the Gulf isn't the only calamity the administration is ignoring. As a result of the BP accident, anywhere from $400,000 to $7 million worth of crude oil is leaking into the ocean each day, threatening widespread environmental damage. A much larger leak - $232 million per day - has come from taxpayer vaults since Sept. 7, 2008, when mortgage giants Fannie Mae and Freddie Mac came seeking the first billion-dollar patch for their fiscal mismanagement. And there's no plug in sight for that gusher. The disaster caused by these so-called government-sponsored enterprises (GSEs) threatens even more...
  • Fannie and Freddie’s most excellent investment

    05/24/2010 10:14:55 AM PDT · by Starman417 · 8 replies · 347+ views
    Flopping Aces ^ | 05-24-10 | DrJohn
    There are good investments and there are bad investments. In what has to be one of the best investments of all time, Fannie Mae and Freddie Mac have donated over $126,000 to Barack Obama. And boy has it paid off. The Senate recently passed a financial reform act allegedly to rein in derivatives and eliminate "too big to fail" and unending bailouts. In pitching this reform, Barack Obama said "Never again will taxpayers be on the hook because a financial company is deemed 'too big to fail." And Obama added: "Every day we don't act, the same system that led...
  • Fannie and Freddie: Too Complicated To Address? (VIDEO)

    05/14/2010 1:15:44 PM PDT · by MichCapCon · 1 replies · 197+ views
    Capitol Confidential ^ | 5/14/2010 | MichCapCon
    Phenomenol video: Paul Kanjorski appears on CNBC and says that Fannie and Freddie are too complicated to address. The two mortgage giants have now cost taxpayers $145 billion (and counting) to bail them out. CNBC analyst Rick Santelli responds, "You think taxpayers that go to work to pay the money you are subsidizing, it will end up a half a trillion, do you think they think complicated is an excuse?"
  • Timothy P. Carney: Obamanomics: General Electric wins big with White House

    12/02/2009 3:45:37 AM PST · by gusopol3 · 6 replies · 632+ views
    Washington Examiner ^ | December 2, 2009 | Timothy P. Carney
    Days after Obama's inauguration, Jeff Immelt, CEO of General Electric, wrote to shareholders: "[W]e are going through more than a cycle. The global economy, and capitalism, will be 'reset' in several important ways. "The interaction between government and business will change forever. In a reset economy, the government will be a regulator; and also an industry policy champion, a financier, and a key partner."