US Action News

Put another way, “White Males Need Not Apply.”

“consumers will experience tight credit, higher fees, and fewer service innovations. Job creation will suffer.” … “financial firms of all sizes are shelling out hundreds of millions of dollars for regulatory compliance officers and attorneys rather than making loans for new homes and businesses.”

Dem shills Olberman, Maddow and NY Times ignore unfolding scandal involving how GE CEO used his high-level Obama Administration connections to collect billions of dollars from the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC).

The Fed operated as a global pawnshop taking in practically anything the banks had for collateral.

An ethics investigation into Rep. Maxine Waters (D.-Calif.) has found that “connections to prominent people” were a consideration in giving millions of TARP dollars to an unqualified failing bank in which her husband was heavily invested.

FBN’s Connell McShane on the FDIC putting over 10% of U.S. banks on its ‘problem list.’

FDIC keeps equity interest and loans funds to developer ‘partners’. While the strategy entails greater risk if real estate prices fall or don’t rise as much as hoped, agency officials say it offers a better chance to replenish their deposit insurance fund — which was overdrawn by almost $21 billion as of the end of the first quarter — than sales for cash. More than 260 banks have failed since 2007.

The story about the bailout attempt of ShoreBank first began breaking last Thursday night. The FDIC was demanding that the bank have $125 million in investments by Friday, but discussions to bail out the bank, which has close ties to both senior members of the Obama Administration, as well as the Clinton family, went deep into the weekend as Chicago politicians scrambled to save the bank.

President Obama’s so-called Financial Regulatory Reform bill institutionalizes permanent TARP bailout authority across the entire financial sector, indeed, for any company that can be deemed involved in financial activity of any sort. Washington is operating today as if we have been conquered by a foreign power that has suspended our democracy and doesn’t care what the American people think.

Inquiring minds want to know: Is Obama trying to bankrupt America? One short year ago, asking this this question would have guaranteed my inclusion among the ranks of right-wing nuts and/or conspiracy theorists. Today, it is a serious question being asked by Neal Boortz, Rush Limbaugh and many other leadng conservatives. Here’s why.