US Action News

Rep. Ed Royce exposes the Small Business Lending Fund scam from Barney and friends.

A year ago we posted stories from Bloomberg.com and The Washington Times that exposed the insider trading scandal in congress. Now Steve Kroft and CBS have jumped on the story as if its new.

Railing against the “lunacy” of multimillion dollar bonuses being paid to top execs at Fannie Mae and Freddie Mac while they continue to request billions in bailout funds from taxpayers Michelle Bachmann says they should be shut down.

“Why would any government official with an ounce of common sense think it’s a good idea to facilitate the smuggling of thousands of guns into the hands of violent Mexican drug cartels? That’s what Operation Fast and Furious did.”

Congressional races are mostly financed by wealthy people, most of the people that we elect to Congress are very wealthy, and they rapidly get wealthier after they are elected. All of this money has turned our republic into something far different than our founding fathers intended.

“The documents we have obtained thus far demonstrate that such high-level White House advisers as Valerie Jarrett?, Ron Klain?, Rahm Emanuel? and Larry Summers? were involved in discussions and decisions related to Solyndra,”

The family of murdered US Border Patrol Agent Brian Terry, who lost his life last December during a gun fight with Mexican drug cartels which were armed by the Obama Administration through deadly Operation Fast and Furious seeks.

Senators are questioning why a steel company owned by a Russian billionaire was given a $730 million loan. Will this turn out to be another favor for a big Obama supporter? There is an excess supply of the steel produce by the company.

The bankruptcy of the second DOE-backed company in the renewable energy sector is yet another red flag that the government has no business running a bank (or hedge fund) with tax dollars. The reason the private sector won’t fund these projects is that they are unprofitable, and that’s exactly why the government shouldn’t be backstopping them either.

So who are these people who are not accountable to Congress, to the President, to taxpayers, to no one but themselves? They are Wall Street money managers, traders and hedge fund operators.