WHERE IS PAUL REVERE WHEN YOU NEED HIM?

Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” —Ronald Reagan

Surprise, surprise! Barney Frank wants to take over another portion of the private sector economy at the taxpayers peril!
The Chairman of the House Financial Services Chairman, Barney Frank, who with the help of Senator Dodd forced mortgage lenders to make loans to people who had neither the means nor the inclination to pay the loan payments, is at it again.
Mr. Frank said for years that Fannie Mae and Freddie Mack posed no threat to the tax payers despite his forced regulations that doomed the home mortgage private sector. Now he wants to take over the insuring of Municipal Bonds. This business is used to insure the bonds that State and local governments use to build infrastructure such as new City Halls or Court Houses. The municipalities "float" bonds that people buy with the intention of making money on the interest payed to the bond holders.

But in bad economic times like this, many municipalities do not have the money to pay the bond holders. This presents a situation that most prudent self serving politicians do not want to find them selves in. They have to choose to raise taxes or default on the the bonds. Unfortunately many choose to default rather than raise taxes and face an angry electorate at the polls in the next election.

Here is where large insurance companies like Warren Buffett's Berkshire Hathaway come in. His company insures the municipal bonds against default.
Presently there are approximately $1.7 trillion outstanding municipal bonds held by the American public.

Now the man who caused the housing crisis, and told Americans that there was no chance the taxpayers would be at risk for his regulations on Fannie and Freddie, wants to meddle in the municipal bond insurance business!
He says there will be no risk to the taxpayers when the Congress passes the Bill he is proposing that will establish a fund to insure municipal bonds.

Although, once again Frank says there is no (zero) risk of a cost to the taxpayers. A man who despite the fact that his company charges high rates for insuring municipal bonds. Says "it is a dangerous business"!

Mr. Frank would like to create what he calls an FDIC-like federal insurance program for municipal bonds. Jurisdictions issuing debt would pay premiums into the insurance fund, and in return the federal government would guarantee the debt against default. "Private companies already insure municipal bonds -- companies such as MBIA, Ambac and Berkshire Hathaway. And you may recall that last year the big bond insurers caused considerable angst when their exposure to mortgage-related debt called into question their ability to meet their muni-bond obligations. MBIA, in response, recently fenced off its muni-bond business from its other obligations".Source:Wall street Journal

Wake up Americans!!! This is another taxpayer disaster that "statists" like Frank and the majority of the Congress want to force down our collective throats! Write, call, email your Congress and Senate representatives to defeat this absurd idea! They probably will ignore you as they have in the past, but it is ammunition for the next time they run for their princely office!

NAPOLITANO SHOULD BE FIRED!

In all my years on earth the two worst insults to the military personnel have occurred in the past few years.
First there was now Secretary of State, Hillary Clinton , calling general Petraeus a LIAR. And now the most outrageous insult has been uttered and re-enforced by the Mean Stream Media. Janet Napolitano has issued a report that says returning veterans from Iraq and Afghanistan are prone to acts of terrorism! Of course she defended the report by saying that it was done during the Bush administration. When in doubt blame Bush seems to be the mantra of the Obama cadre. But why was it not made public until the Tea Parties were launched?

She went into detail about their training in deadly weapons, and the fact that they may not fit in with the difficult economy we are having, and are prone to join Right Wing Terrorist groups.
She and her boss, Obama, don't think that calling the real terrorists who are waging a Jihad against the USA, is appropriate.
But she has decided to call Americans veterans potential terrorists!
Yes I remember Tim McVey, but I also remember two terrorists who are now professors named Ayers and Dorn who ignited a bomb on a military base.These are real home grown terrorists, and proud of it!

It is strange that this warning was circulated at the same time that the Tea Parties were held in every State to protest the massive spending of the Congress and the President.

The report the Homeland Security Secretary sent to all law enforcement agencies in the United States included these words: "Returning veterans possess combat skills and experience that are attractive to right wing extremists. DHS/I&A is concerned that right wing extremists will attempt to recruit and radicalize returning veterans in order to boost their violent capabilities".

Has anyone - besides me - noticed that despite the fact that most violent crimes, most violent protests, and most radical acts of terror in America, are NOT committed by your average white Americans, or even the average Republican, there is NO reference to “Left wing” or “Black Panther” styled radicalism here???

Those seeking to rob fellow Americans of their hard earned property in the name of a greater communal good, are no threat to America at all.? Only those who oppose the Marxist efforts qualify as dangerous “domestic terrorists” under Obama’s DHS. Those who commit voter fraud on a massive scale like Obama’s ACORN are no problem. But those who oppose it are “racists,” and a “dangerous threat.”

In short, if you still foolishly believe in the Founding documents as they were written and ratified, oppose an oppressive federal government run by unbridled Marxists, cling to your bibles and guns, affirm the unalienable individual Rights to Life, Liberty, or the Pursuit of Happiness, or national sovereignty as established in the Founders Declaration of Independence, you are now a “domestic terrorist!”

This apparently hateful woman should be fired for her attack on the tens of thousands of brave and honorable men and woman who have and are still fighting the real war against terrorism!