Tag Archives: congress
Big Fucking Loser vs Huge Fucking Loser
Last night, Americans in one of the most liberal states in the nation told Washington that they were fed up and they were not going to take it anymore. Massachusetts elected a Republican to the Senate seat that once held up the drunken Ted Kennedy. Out of that victory for America stumbled out some losers. The first one a big fucking loser, the second, a HUGE FUCKING LOSER….
VS
But now lets advance on to the latest term in Failed Politics….The Axis Of Fail and the people who define it….
c
We should all relish and prosper in their failure. Remember, when Obama and the Democrats fail, not only does an angel get its wings, but most importantly, America succeeds when Democrats fail.
Dick & Nutz
I’ve often referred to Obama as a “Dick” and we all know that Joe Biden and Barney Frank are fucking nuts, so I present to you………….
Next time, we’ll bring to you the left and right cheeks with the asshole in the middle!
Some LOLZ Caption Fun With Rahm Emanuel & Nancy Pelosi
I found this barftastic picture of Rahm Emanuel getting all Nasty behind Nancy Pelosi and decided to have a little LOL fun with it.
Ron Paul: The Only Man Who Can Save America Is An Accomplice To It’s Bankruptcy
Mr. Small government Ron Paul is the GOP’s biggest Porker when it comes to earmark spending and after all of his screaming about smaller government he is nothing more then a hypocrite no different then Obama, Reid, Murtha, or Pelosi. Nothing more then a RINO as I long suspected he was.
From AoSHQ:
1) He is one of the biggest yellers about small government. I certainly don’t begrudge him that but…
2) Does such a yeller need to be the top Republican porker? Can’t he satisfy himself with being, say, in the middle third of earmarkers?
And of course:
3) It’s disappointing, because I’ve been told he’s the Only Man Who Can Save America.
The Texas congressman who is the darling of the Libertarian Right, has more earmarks in the pork-laden $410-billion spending bill than any other Republican.
That’s not according to the MSM, or the liberal blogosphere. That’s what Fox News is reporting.
In an interview Tuesday night with Fox News’ Neil Cavuto, Paul not only defended his own earmarks, he argued that every penny in the federal budget should be earmarked, to improve transparency.
I wonder if any of the earmarks for America’s Krazy Unkkkle was to payback the White Supremacists that supported him during his run for President?
Pelosi Air: Speaker Of The House Abuses Air Force Privilages
It would seem that the executives from the Big 3 Automakers are not the only ones jet setting about on their private corporate Jets. Speaker of the House, Nancy Pelosi is under the assumption that the United States Air Force is her own personal private airline.
From Judicial Watch:
House Speaker Nancy Pelosi has repeatedly requested military aircraft to shuttle her and her colleagues and family around the country, according to a new report from a conservative watchdog group.
Representatives for Judicial Watch, which obtained e-mails and other documents from a Freedom of Information request, said the correspondence shows Pelosi has abused the system in place to accommodate congressional leaders and treated the Air Force as her “personal airline.”
Judicial Watch said that Pelosi was notorious for making special demands for high-end aircraft, lodging last-minute cancellations and racking up additional expenses for the military.
The e-mails showed repeated attempts by Pelosi aides to request aircraft, sometimes aggressively, and by Department of Defense officials to accommodate them.
The ironic part of all this, she’s jet setting bout on the public dime to Rome to kiss the hand (ass) of the Pope while here at home she expects the rest of us common folk to conserve energy and lessen our use of oil. One would think this botoxed cunt could just hop on her broom and whisk herself anywhere she desires. Better yet, San Fran Nan should fly commercial like the rest of us and deal with the three ring dog and pony show called the TSA and volunteer herself for a body cavity search….Uh, never mind, cancel that! (ewwwwwwwwwwwwwwwwww)
So much for the most ethical congress in American history. That went further down the shitter when the Moonbat Messiah rose to power and I’m quite sure that Porky Pelosi will do her part to further shit up this great nation.
H/T Michelle Malkin
I Can Haz A Gubmit Cheezburger?
I believe this speaks volumes about Obama’s Golden Turd being thrust upon us by Nancy Pelosi and her Partner in Crime, Harry Reid.
Smile you two assholes and say, “Gubmit Cheeze!”
Technorati Tags: nancy pelosi,harry reid,congress,senate,politics,political,news,current events,stimulus,welfare,economy,obama
Pelosi’s “No Child In The Womb” Program Is Thrown Under The Bus
President Bush and Ted “hic” Kennedy brought us the “No Child Left Behind” program that utterly failed due to lack of funding, and now San Fran Freako’s own Freak in Congress who dreamed up the idea of funding Contraception as part of the economic stimulus because as we all know, Children can be such a burden on the economy with education and medical expenses.
Well it appears that House Democrats who are suffering approval ratings worse then President George W. Bush have grown a brain and it sounds like they may be tossing Pelosi’s plan under the bus.
From Michelle Malkin:
House Democrats are likely to jettison family planning funds for the low-income from an $825 billion economic stimulus bill, officials said late Monday, following a personal appeal from President Barack Obama at a time the administration is courting Republican critics of the legislation.
Several officials said a final decision was expected on Tuesday, coinciding with Obama’s scheduled visit to the Capitol for separate meetings with House and Senate Republicans.
The provision has emerged as a point of contention among Republicans, who criticize it as an example of wasteful spending that would neither create jobs nor otherwise improve the economy.
Under the provision, states no longer would be required to obtain federal permission to offer family planning services — including contraceptives — under Medicaid, the health program for the low-income.
Democrats considered the politically-potent change as congressional budget experts estimated it would take slightly longer for the overall legislation to achieve an impact on the economy than the administration projects…
…Several Democrats said Monday night that Obama had spoken personally with Rep. Henry Waxman, D-Calif., about removing the provision. Waxman is chairman of the committee with jurisdiction over Medicaid and a close ally of Speaker Nancy Pelosi, D-Calif.
The Democrats who described the likely reversal did so on condition of anonymity, saying they were not authorized to disclose developments not yet made public.
Obama’s request to House Democrats underscores the administration’s desire to signal a spirit of bipartisanship, a recurring theme for the president in his first week in office.
I would think that Pelosi was only following the marching orders of her Messiah who during the election stated that he will educate his young daughters but “if they make a mistake, I don’t want them punished with a baby. I don’t want them punished with an STD at the age of 16.”
Besides, who needs contraception in San Fran Freako? Not much in the line of normal sexual behavior going on there anyway.
Next show coming will be Nancy Pelosi being ex communicated from the Catholic Church by a Former Nazi Youth who reinstated a Holocaust Denier….Film at 11!!!
Dim Wit To Light Dim Christmas Tree In Nation’s Capitol
Congressional Failure and defender of the Sodomites, Nancy Pelosi will this year light the enviroMENTALLY challanged Christmas tree in our Nation’s Capitol.
From Michelle Malkin:
It will be draped with environmentally correct LED lights, according to The Hill.
This will save tons of energy, so that Pelosi can jet back and forth from San Francisco in her ginormous plane.
I’m quite sure the only reason Pelosi is going to be there is to see if Santa left her a big box of Botox and a brand spanking new Gulf Stream Jet to traverse back and forth between Washington DC and San Fran Freako.
I’m not sure how much longer it will be known as a “Christmas” tree after the Chosen One becomes our new Overlord. Don’t want to offend our Islamofacist enemies that Dictate sanctioned murder and torture under the cloak of Religion and are protected by the ACLU and Nancy Pelosi’s Democrats.
The Nuge Speaks: RINO Season Is Now Open
I don’t think there is too much that one can add to words of wisdom from Uncle Ted. I do have to admit, that I just love how this guy doesn’t pull any punches. All I can say to this is….”Let’s Roll!”
Like any entity that abandons basic quality control, political parties rot from within. It happened to the Democrats long ago, and now has become the case with the Republican Party, which has strayed from its conservative underpinnings.
There are really only four things I have a strong aversion to: unloaded guns, dull knives, banjos, and Republicans in Name Only (RINOs).
The Nugent family simply doesn’t allow any of those things in our lives.
RINOs are Fedzilla punks who feign support for conservative principles only when it serves their political interest. RINOs are also known for their moderate positions such as supporting tax increases, federal “bailouts”, “comprehensive immigration reform”, advocating more counterproductive gun control that guarantee more innocent victims, opposing the death penalty, and growing and sustaining Fedzilla and all its toxic mongrels by going along with the liberals. RINOs have forgotten President Ronald Maximus Regan’s admonition that government is the problem, not the solution.
RINOs reach across Fedzilla’s aisle to cut deals and build consensus with the liberals. Consensus building means compromising values and cutting deals with the socialist prankster punksters whose goal it is to turn America into EuroAmerica.
Consensus building is for wimps and soulless people who stand for nothing. Compromise is not about being tolerant: these days, it’s about giving up conservative principles.
As the Republican Party begins to retool, rebuild and return to the “less government is best government” conservatism that makes America work, the first thing the GOP needs to do is to lock the RINOs out of the discussion. Heavily armed with an abundance of conservative attitude, my hunting buddies and I will provide security to ensure RINOs are kept downwind from the discussion. If allowed to participate, RINOs will continue to rot the Republican Party from within and diminish it in the eyes of the public. Enough is enough.
John McCain has been a RINO on campaign finance, immigration, global warming and other issues and look what happened to him. He had reached across the aisle so many times to cut deals with the liberals that he had to pick Governor Palin, a true conservative, to try and lure disenfranchised and disgusted conservatives back into the fold. Didn’t work. Senator McCain was the wrong candidate at the right time. RINOs lose elections;
conservatives win them.Should President-elect Obama implement his wrong-headed economic policies, our economy will continue to slide into the abyss and America’s debt will continue to soar to unsustainable levels. Conservatives must hold the line at all costs and call out all RINOs who support President-elect Obama’s economic kamikaze plan.
Make no mistake, conservative values and ideologies are embraced by Americans. The polls all indicate Americans are fed up with the Pelosi-led, do nothing congress, and do not support more government programs and control. Sounds to me like we have a conservative revolution brewing.
Conservative leaders and thinkers such as Newt Gingrich, Jed Babbin, Governor Jindal of Louisiana, Thomas Sowell, Glenn Beck, Michelle Malkin, Governor Sarah Palin and others need to turn up the heat and bring this less government, more individual freedom and strong national defense revolution to a boil. It is time.
My specialty is making Fedzilla punks squirm and turn into a puddle of sweat and drool. Therefore, in the spirit of famous butt kickers Generals Chesty Puller and George Patton, I say we launch an attack on all fronts. Uncle Ted hereby declares it is open season on RINOs. No bag limits or permits required. Conservative ideas, arguments and votes are the weapons we will use. Hunt them down and shine a blazing light on these RINO turncoat cockroaches. Zero in the “we the people” crosshairs of your voting assault weapon and aim for the RINO pumpstation. Double tap center mass. Whack em and stack em, track em and hack em, pack em and give em no slack. Let’s do to the RINO beasts what we did to the passenger pigeon. Force out of the Republican Party out the subspecies known as RINOs.
We must not make the mistake of keeping the GOP tent so big that there’s room for RINOs. They are in the business of producing conservative defeats. Instead, join me in the new Conservative Revolution. Let’s go out and win another one for the Gipper.
Exclusive: Up Skirt Photo’s Of Nancy Pelosi!
A friend of mine bet me that I wouldn’t do this…..
Never before seen anywhere else! Don’t lie, I know you’ve all thought about it at one time or another. Now you finally have the answer to that age old question….”What’s hiding up Nancy Pelosi’s Skirt?
Look What's Hiding Up Pelosi's Skirt!
Ten years of working for the Michigan Dept. Of Corrections gave me this twisted sense of humor. 6 months of “Booty Duty” gave me all the time in the world to hone and sharpen this sick wit. Look Ma, no hands!
Check out the next one below the fold….. Approach With Extreme Caution. Not intended for people with heart conditions or history of stroke…Viewer discretion is advised… NSFW but funny as hell.
Online Poll: Let’s Get Ready To Rumble!?!
Oh hell no! Can I at least get some rest before this shit starts all over again?
Their majority of gubernatorial seats larger by one, Democrats are taking aim at key states in 2010, including California, Minnesota and Connecticut. Republicans, who successfully re-elected four incumbents on an election night of big GOP losses elsewhere, want to win back Kansas, Ohio and Pennsylvania, among others.
At stake is control over the redrawing of legislative and congressional maps and the chance to influence the 2012 presidential election through governors’ bully pulpits and fundraising machines.
At the end of an Election Day in which 11 governorships were decided, eight incumbents were re-elected, split evenly between the two parties. Democrats won the three governors’ posts where no incumbent was running, and flipped one of those – Missouri – from Republican to Democratic hands.
But Tuesday’s results gave both parties reason to be optimistic about 2010.
Tell me what you think…
Congressional Schmuck John Conyers Moves To Protect Obama’s Illegal Alien Aunt
Congressional Schmuck John Conyers is calling for an investigation into who, what or why the immigration information of the Obamessiah’s aunt was leaked to the press while American Citizen Joe the plumber is left to sit with his ass in the wind to be phist phucked by the liberal media about anything and everything he’s ever said or done.
From Michelle Malkin:
I predicted the totally predictable last night. And so it has come to pass: The left-wing fairweather friends of privacy are all over the leak of Aunti Zeituni’s immigration info — while Joe The Plumber remainspersona non grata. Democrat Rep. John Conyers has already called for a federal investigation. The WaPo is already up with an A-section story on the anonymous leak. And the liberal blogs are up in arms.
The MSM abhor anonymous leaks — unless they’re helping to undermine Bush administration anti-terrorism programs or conservative causes and candidates.
Laughably, the Obama cultists suspect that Bush administration officials are in cahoots with the McCain campaign and the Associated Press.
Unfortunately, Michigan lays claim to four of the biggest schmucks in politics. Debbie Staben-hoe cannot keep her husband happy, Levin is always at standbye with the white flag of surrender, Jennifer Granholm is busy bankrupting Michigan and driving away businesses and Conyers likes to cozy up to the radical Islamofacists of Dearbonistan in between launching impeachment hearings and using Justice Dept Brownshirts to investigate American citizens instead of the terrorist sympathizers he endears himself to.
In John Conyers’ eyes, an illegal alien who supports a facist re-distributor of wealth Democrat has more rights then an American citizen named Joe the Plumber who supports a Republican. If Obama gets elected, the investigations into anyone who thinks he and Obama are worthless schmucks will dry up all of the Federal Law Enforcement resources so that Islamofacist Terrorists hell bent on the destruction of America will get a free pass.
I’ve noticed how well Obama takes care of his own family, one can only imagine well he’ll take care of America. The whole nation under Obama will resemble the slums of Chicago after 4 yrs.
Democrats Duck Responsibility Thanks To MSM
The Democrats dominant role in this whole financial boondoggle is being covered up by none other then the Mainstream Media now known as “The Obamedia” for their obvious bias and dedication to their Lord & Savior Barack Obama.
From Michelle Malkin:
On Sunday, October 5th, the St. Louis Post-Dispatch ran a front page article attacking Missouir’s senior Republican senator, titled “Bond’s tough talk on Fannie, Freddie rings hollow to some.” The article was authored by Deirdre Shesgreen, of the Post-Dispatch’s Washington Bureau. (Title’s been changed. Article is here.) The article takes Missouri Republican Senator Christopher “Kit” Bond to task for having a cozy relationship with Fannie Mae and Freddie Mac.
In a hit piece that should not come as much of a surprise to anyone who reads the St. Louis newspaper, the article does allude to possible wrong doing of one Democrat, but focuses their ire on Bond, by stating;
“Sen. Christopher Dodd, D-Conn., chairman of the Senate Banking Committee, which oversees the two firms, ranks No. 1, collecting more than $165,000.Bond is No. 8; his campaign committee has taken in more than $95,000 since 1989, the center’s tally shows. Bond said the donations never influenced his decisions.”
The Post-Dispatch didn’t feel it was necessary for its readers to know that the No. 2 recipient of donations was one Senator Barack Obama, who brought in $126,349, or that John Kerry was No. 3, bringing in a total of $111,000.
The weekend Post also carried a Business section column by David Nicklause, on “Economy drowns in seas of excess liquidity and cronyism,” stating that “Republicans, meanwhile, have favorite myths of their own. One is to blame the subprime mortgage crisis on speculators, those greedy folks who flipped Florida condos for profit or took out “liar loans” on houses they knew they couldn’t afford.”
The column continues on a back page, under the heading; “Don’t forget that capitalism is based on greed.”
It would have been nice if they had told us what socialism was based on, as well.
Barack Obama, Barney Frank and their Liberal Friends in Congress have benefited greatly from this whole mess. Not only have Fannie Mae and Freddie Mac executives lined their pockets with generous amounts of cash, and this whole fiasco is something Obama and his campaign have been praying for. They are hoping that this crisis will payoff for them politically. This bailout is a Socialists dream come true and a tanking economy not only gives the image of defeat to our enemies but give hope to them that Obama will win in November. Execs from these failed companies are advising Obama on his campaign.
A Democrat accept responsibility for wrong doing? We’re still waiting for Ted Kennedy to come clean on his vehicular manslaughter of a innocent woman one drunken evening, so I don’t suspect it will happen soon.
The Democrats Form Their Own Nigerian Scam
The loons call it a bailout, I call it a scam, similar to the Nigerian 411 scam that everyone with an email address has received one of the letters at one time or another. Out of greed or stupidity, some people have actually responded to these letters and lost their personal fortunes. The most un-ethical congress is now scamming the American people and out of greed our stupidity, we fell for it!
From Doug Ross:
SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP
DEAR AMERICAN:
I NEED TO ASK YOU TO SUPPORT AN URGENT SECRET BUSINESS RELATIONSHIP WITH A TRANSFER OF FUNDS OF GREAT MAGNITUDE.
I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED THE NEED FOR LARGE TRANSFER OF FUNDS OF 800 BILLION DOLLARS US. IF YOU WOULD ASSIST ME IN THIS TRANSFER, IT WOULD BE MOST PROFITABLE TO YOU.
I AM WORKING WITH MR. CHRISTOPHER DODD, MILLIONAIRE SENATOR, WHO WILL BE MY REPLACEMENT AS MINISTRY OF THE TREASURY IN JANUARY. AS A SENATOR, YOU MAY KNOW HIM AS LEADER OF THE AMERICAN BANKING DEREGULATION MOVEMENT IN THE NINETIES. THIS TRANSACTION IS 100% SAFE.
THIS IS A MATTER OF GREAT URGENCY. WE NEED A BLANK CHECK. WE NEED THE FUNDS AS QUICKLY AS POSSIBLE. WE CANNOT DIRECTLY TRANSFER THESE FUNDS IN THE NAMES OF OUR CLOSE FRIENDS BECAUSE WE ARE CONSTANTLY UNDER SURVEILLANCE. MY FAMILY LAWYER ADVISED ME THAT I SHOULD LOOK FOR A RELIABLE AND TRUSTWORTHY PERSON WHO WILL ACT AS A NEXT OF KIN SO THE FUNDS CAN BE TRANSFERRED.
PLEASE REPLY WITH ALL OF YOUR BANK ACCOUNT, IRA AND COLLEGE FUND ACCOUNT NUMBERS AND THOSE OF YOUR CHILDREN AND GRANDCHILDREN TO WALLSTREETBAILOUT@TREASURY.GOV SO THAT WE MAY TRANSFER YOUR COMMISSION FOR THIS TRANSACTION. AFTER I RECEIVE THAT INFORMATION, I WILL RESPOND WITH DETAILED INFORMATION ABOUT SAFEGUARDS THAT WILL BE USED TO PROTECT THE FUNDS.
YOURS FAITHFULLY MINISTER OF TREASURY PAULSON
I really don’t know whether to laugh or cry about this…
Oprah Winfrey’s Mother: “Can I Get A Bailout?”
Talk TV Diva and huge supporter of Barack Obama, Oprah Winfey who’s mother ran up $155,547.31 in credit card purchases is being sued by a department store for not paying her bill and she is now taking on the irresponsible mentality of entitlement and is saying she shouldn’t have to pay her bill, that the store should have never extended her credit and apparently her daughter Oprah is way to busy helping Obama overthrow the United States Constitution to help her momma.
From Michelle Malkin:
Oprah Winfrey’s mother should not have to pay a high-end fashion store the more than $150,000 it says it is owed because the store extended credit despite knowing her troubles managing debt, according to a new court filing.
101970Vernita LeeValentina Inc. sued Winfrey’s mother, Vernita Lee of Milwaukee, in July, contending that she racked up a bill of $155,547.31 in purchases and interest as of July 1. She was required to make a minimum monthly payment of $2,000 to the store, the suit says.
Mediation between the two sides failed last week, prompting Lee to file a counterclaim contending she does not owe the money.
The account is “unconscionable, and therefore, unenforceable because Valentina knowingly and unfairly took advantage of Lee’s lack of knowledge, ability, and/or capacity when Valentina created the account,” the civil lawsuit says.
It is the second time Lee and Valentina have been in conflict over her wardrobe bill.
In 2002, Lee was ordered to pay $35,000 upfront and make monthly payments of $5,000 until another past-due bill of $174,285 was paid, according to court records.
As part of the resolution of that case, a court order dismissing the case included the phrase, “Valentina Boutique, Inc., shall not at any time extend further store credit to the Defendant, Vernita Lee.”
The 2002 case was dismissed as long as Lee made the payments, which she did, according to the counterclaim.
Lee has had an open-ended charge account with Valentina since January 2004, according to the recent civil case.
Lee also contends that the store violated the Truth in Lending Act by not disclosing the finance charge and annual percentage rate in the account more conspicuously.
Just who the hell does she think she is, Fannie Mae? Didn’t Oprah just recently give her momma a $100k for Mothers Day? Pay your damn bills!
I would like to know, when did personal responsiblity and self accountability die? Are we that far down the road of Marxism that we are to depend on the government for everything in our daily lives?
I have to pay my bills, noone else is going to pay them for me, and I don’t expect anyone, least of all, the Gubmit, to pay my bills.
I have an idea for a new book for Oprah’s Book Club…….The Complete Idiots Guide To Personal Finance
moar funny pictures
Nancy Pelosi: The Difference Between Your Ass & A Hole In The Ground
Nancy Pelosi perhaps provides more hot air, natural gas, and wind then any other person in Congress, yet, the “Queen” of San Fran Freako doesn’t have an ounce of common sense to realize that in order to get to Natural Gas Deposits besides her gaping pie hole is to DRILL!
The Day before the Democratic Convention and the Decent from the heavens of The Obamessiah, Nancy Pelosi had this to say:
I’m, I’m, I’m investing in something I believe in. I believe in natural gas as a clean, cheap alternative to fossil fuels. … These investments in wind, in solar and biofuels and focus on natural gas, these are the real alternatives.
The botox fossil herself is up to her eyeballs involved with Mr. Wind T. Boone Pickens who is trying to funnel $10 billion in federal and state dollars in federal funds to his Wind Farm idea. Pelosi and her husband would both benefit from No Drilling and the diversion of federal funds of which as we all remember, Congress controls the purse strings and is itself, nothing more then a Fart Factory that we should begin drilling in and tapping this neverending source of fuel. To bad they don’t know how to use all of those natural resources as a form of energy to do something that would benefit the American people as a whole and not just the elitist douchebags.
Kippah tip to The Heritage Foundation and Michelle Malkin.
John McCain Bitch Slaps Obama In Ohio
Bitch Slaps For Obama 2008
This is perhaps the best quote of the week:
“Senator Obama is not interested in the politics of hope, he’s interested in his political future and that’s why he’s hurling in insults and making up facts about his record. Today, he claimed that the Congressional stimulus package was his idea. That’s news to those of us in Congress who supported it. Senator Obama didn’t even show up to vote. He talks a tough game on the financial crisis, but the facts tell a different story. Senator Obama took more money from Fannie Mae and Freddie Mac than anyone but the chairman of the committee they answer to. And he put Fannie Mae’s CEO, who helped create this problem in charge of finding his Vice President. That’s not change, that’s what’s broken in Washington. He talked about siding with the people, siding with the people, just before he flew off to Hollywood for a fundraiser with Barbra Streisand and his celebrity friends. Let me tell you, my friends, there is no place I’d rather be, than here, with the working men and women of Ohio. I’m going to fight for you and together we’re going to win in November.” — John McCain
Obama, Eat your waffle and STFU!
Corrupt Democrats Guilty Of Enabling Financial Crisis
As good as the paper it's printed on...In Barack We Trust (Sarc)
Presidential wannabe Barack Hussein obama has been feeding quite well off the financial tit of Government subsidized companies like Freddie Mac and Fannie Mae for quite sometime and despite his short time in Washington, he has been the biggest recipient of money from those failed companies that he and Democrats like Nancy Pelosi and John Kerry have sheilded from reforms that Republicans like future President John McCain supported in 2005.
Senator McCain Speaks in Support of
The FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005
The United States Senate
May 25, 2006Mr. President, this week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.
The Office of Federal Housing Enterprise Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.
The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator’s examination of the company’s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.
For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
John McCain realized in 2005 that something needed to be done and tried to take action that may have stopped the recent financial crisis, Democrats also took action…To stop McCain.
Democrats like San Fran Nan Pelosi who are quick to say “Don’t blame us” are politicizing the crisis to use in attacks against Bush but fail to accept their own deep seated responsibility in the whole situation and a majority of the blame does lie with the most corrupt congress in American history.
Priceless: Rep. William “Cold Cash” Jefferson On Cold Storage
The Cold Hard Truth is hard for a corrupt legislator to handle.
From Hot Air:
“I have a $20 bill here, could you sign it with the inscription ‘most ethical Congress ever?’” PRICELESS!
The Rogue Jew 