You may get tired of hearing this, but it needs to be repeated over and over and over. Back in 2006, the Democrats campaigned on a Republican culture of corruption. Their claim was that they would bring back transparancy and fairness to Washington D.C.
Well, the Dems lied to us. They are more immersed in a culture of corrpution than the Republicans ever were, even more than they claimed the Republicans were. Now, we can see that this culture of corruption extends all the way to Barack Obama and the White House.
The Chrysler bankruptcy deal was supposed to sail through with no problems and Fiat would be the new majority owner at the end. But, the Obama administration didn’t count on a group of Indiana pension funds looking critically at the deal and finding out what was really going on.
This whole deal with Chrysler was about paying off union supporters at the expense of Joe and Jane Average American.
From the Dow Jones Newswires:
|Fiat would initially own 20% of the new company, though it would have the option of increasing its stake to as much as 51%. A United Auto Workers health-care trust would initially get a 55% stake, while the U.S. and Canada, which are lending Chrysler $4.9 billion during the bankruptcy, would own 8% and 2%, respectively.
Senior lenders owed $6.9 billion would receive $2 billion, giving them a recovery of about 29 cents on the dollar. The Indiana funds own about $42 million of the senior debt.
The UAW’s health-care trust has an unsecured claim against Chrysler for about $10.5 billion. In addition to the equity stake in Chrysler that the trust, an unsecured creditor, would receive, it would also get a $4.5 billion note under the plan.
In other words, the UAW, a junior creditor, would be given preference over the Indiana pension funds, part of the senior lenders group. This is why the Supreme Court has temporarily blocked the sale, to look at the legality of this situation.
Giving junior lenders preference over senior lenders is wrong. This is clearly an attempt by the Obama administration to pay off their leftist union supporters through the sale of Chrysler and screw over hard-wroking Americans in the process.
(BTW, didn’t Obama promise to get the automakers back on their feet? Why is he now so hot about selling them off?)
The concept of fairness and the due process clause in the Constitution dictate that senior lenders must be tended to first and junior lenders after that. Obama is trying to turn that around. In other words, he is changing the rules in mid-stream so that his supporters get the greater benefit at the expense of everyone else.
The Democrats’ culture of corruption now adds to Nancy Pelosi, Tim Geithner, Charlie Rangel, William Jefferson and Todd Blagovich the name of Barack Obama.
You can access the complete article on-line here:
Pension Funds Ask High Court To Delay Chrysler Sale
Mark H. Anderson
Dow Jones Newswire via Wall Street Journal
June 8, 2009
And another good analysis can be found on-line here:
Don’t Like the Game? Change the Rules
June 8, 2009
Filed under: Constitution, Corruption, Culture of Corruption, Government, Justice and Courts, Politics, Unions | Tagged: Blagojevich, Chrysler, Culture of Corruption, democrats, Fiat, Indiana, Mark Anderson, Obama, pension funds, Supreme Court, UAW | Leave a Comment »
I’ve been a proponent of the FairTax for a few years now. My faith in the FairTax has never waivered nor will it anytime soon. Although many on the left (and a few on the right) have worked to discredit the idea of the FairTax over the past few years, the movement is gaining momentum.
The lastest victory come from Missouri where the House of Representatives voted to approve of a state Constitutional Amendment that would give Missouri a state-level FairTax.
From Fair Tax Nation:
|In a development of potential national significance, the Missouri House of Representatives, on April 16, 2009, sent a proposed amendment to the Missouri Constitution, HJR36, to the state Senate that, if enacted, would bring a state-level Fair Tax to Missouri.
The sponsor of the bill, Edgar G. Emery (R-Missouri District 126, Lamar), advised me yesterday he thinks the bill has a reasonable chance of passage in the state Senate. There is no definite time table yet there – the resolution has had its first reading. However the passage of the proposal in the state House has enhanced the profile of the bill in the state Senate.
If the state Senate approves, the measure will be submitted to the voters of the State in November 2010 without need for consideration by the Governor.
If approved by the voters, the measure would take effect on January 1, 2012, and Missouri would become the first laboratory in the United States – and perhaps the world – to test the macro-economic benefits of the Fair Tax.
New Jersey FairTax State Co-Director, engineer and business owner, Norm Simms, has stated frequently that his decisions on where to site production are sensitive to tax climate. If the state FairTax passes, businesses would be expected to seriously consider locating – or relocating – to Missouri.
Credit for the success of this bill goes to the Missouri FairTax volunteeers.
You can access Missouri HJR36 on-line here:
There have been many efforts at tax reform over the past twenty years, but all of them failed to produce the desired results. Here are three end-goals that any tax reform plan must have in order to be viable:
1) The plan must remove from the IRS any power to intrude on the private lives of American citizens.
2) The plan must remove from the K Street lobbyists any power to influence Congressional votes.
3) The plan must not allow hidden taxes to be passed along to the consumer at any time.
There is only one tax reform plan that addresses all three of these end-goals:
THE FAIR TAX
ACORN, the voter-fraud organization that worked so hard to register voters like Mickey Mouse, Donald Duck and Clark Kent, along with pro-amnesty groups like Voto Latino and Service Employees International Union (SEIU) will be helping Barack Obama make sure that illegals are counted as population in the upcoming census thereby helping to ensure that the Dems will maintain a majority and will be able to force their disastrous socialist agenda on the rest of us.
No, this is not the plot of some futuristic movie from the 1970′s. It is cold, hard reality today. Commerce Secretary Gary Locke set this wheel in motion when he told the “government’s partners” (i.e. ACORN, Voto Latino and SEIU) that the “privacy rights” of census takers would not be violated. What that means is that the people doing the census will not ask whether or not a family being counted is actually a legitimate family or an illegal family.
That will have long-range consequences on the politcal map here in the United States.
Writing for Town Hall, Michelle Malkin has the following:
|Obama’s census partners are using the process to pressure homeland security agents to halt interior enforcement efforts and workplace raids so that illegal alien cooperation with the national survey is maximized. Inclusion of the massive illegal alien population has resulted in a radical redrawing of the electoral map.
The census is used to divvy up seats in the House as a proportion of their population based on the headcount. More people equals more seats. More illegal immigrants counted equals more power.
This is not hypothetical. The Center for Immigration Studies determined that in the 2000 election cycle, the presence of non-citizens, including illegal immigrants, temporary visitors and green-card holders, caused nine seats in the House to switch hands. As the think tank’s analysis reported: California added six seats it would not have had otherwise. Texas, New York and Florida each gained a seat. Indiana, Michigan, Mississippi, Oklahoma, Pennsylvania and Wisconsin each lost a seat. Montana, Kentucky and Utah each failed to secure a seat they would otherwise have gained.
Given ACORN’s track record at fraudulently registering voters over the past eight years, it is very likely that ACORN may use those same fraud techniques to influence the census count and make sure that Congress and the federal government remains in the hands of the socialists.
And Obama himself is already making sure that illegals are free to remain in the United States for the census:
|The Obama Department of Homeland Security is already continuing the tradition — reversing the work of investigative agents who have uncovered massive document fraud at illegal alien worksites, and cutting immigration and customs enforcement operations at the knees.
During the eight years of the Bush administration, groups such as ACORN received millions of dollars in subsidies. The pro-amnesty faction of the GOP pandered to unions such as the SEIU and ethnic lobbying groups such as Voto Latino seeking to boost their membership rolls.
Now Republicans can only stand by helplessly while the political opponents they helped fund use the census to wipe them off the electoral map. You reap what you sow.
I wonder if those pro-amnesty Republicans are going to recant all those speeches they made when they tried to shove amnesty down our throats back in 2007.
Do you, as an American, want the future of our nation determined by a bunch of aliens who entered and stayed in the county illegally? I don’t.
You can access the complete column on-line here:
Obama Census Plan: No Illegal Alien Left Behind
April 3, 2009
A couple of weeks ago, I called on Frank Wolf (R-VA) to resign his seat for violating the Constitution by voting “Yea” on HR 1586. For a refresher on that story, visit the following link:
Time For Frank Wolf (R-VA, 10th District) To Resign
March 20, 2009
My argument is that by voting for legislation that essentially amounts to both a Bill of Attainder and an Ex Post Facto law, Rep. Wolf violated his oath to uphold and defend the Constitution and must be held accountable for it. I sent Mr. Wolf a letter voicing my concerns and asking that he step down. I further made it known that my concerns were over the Constitutional issues, not the bonuses.
I got a response through the mail yesterday. A hard copy letter signed by Mr. Wolf. Here are two excerpts from that letter:
|By a vote of 328-93 on March 19, the House passed the bill (H.R. 1586) to impose a new 90 percent tax on the bonuses paid after December 31, 2008, to employees of companies that recieved over $5 billion in taxpayer money.|
Here, Mr. Wolf freely admits that HR 1586 qualifies as a Bill of Attainder, which is defined as any legislation that will pose negative effects on a narrowly defined group of people. Mr. Wolf himself defines that group. Further, Mr. Wolf noted that the date of the legislation in question was March 19, 2009 and that it would be retroactively enforced back to December 31, 2008. That qualifies this bill as an Ex Post Facto law.
So, why did he do it? Here is what he wrote:
|While I had concerns about the rushed nature of the legislation and some of the legal and constitutional issues raised, I voted for the bill. I reached that decision because of the message that AIG’s payment of bonuses was sending hard-working Americans whose tax money was being used to bail out the company.
That’s it. Frank Wolf voted to trample on Article I, Section 9, Clause 3 of the Constitution of the United States in order to “send a message.” He had no concern whatsoever that what he was doing violated the Constitution.
What’s next? Will Mr. Wolf vote to repeal the 2nd Amendment in order to “send a message” to violent criminals? Maybe Mr. Wolf will vote to allow duties or taxes on exports from a certain state in order to “send a message” to the people of that state. Maybe Mr. Wolf will vote to impose taxes on a specific religious denomination in order to “send a message” to the members of that religion.
Mr. Wolf’s actions regarding HR 1586 are inexcusable. His excuse for taking those actions is intolerable.
Anyone who would violate a certain part of our Constitution will be capable of violating other parts of the Constiotution. Such a person is not to be trusted.
I repeat my earlier call for Mr. Wolf’s removal. I would rather deal with an honest Democrat than a disgraceful Republican. I have already decided that I will not support Frank Wolf for re-election in 2010.
Filed under: Constitution, Economy, Government, Politics, Taxes | Tagged: 10th District, AIG bonuses, Bill of Attainder, Commonwealth of Virginia, Constitution, Ex Post Facto, Frank Wolf, HR 1586 | Leave a Comment »