Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Category Archives: Politics

White House to NY: Accept Bank Foreclosure Deal

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New York’s Eric Schneiderman (right) is the only Attorney General who doesn’t like the foreclosure settlement agreed to by the major banks behind the mortgage-backed-securities (MBS) and foreclosure (robo-signing and faked-documents) frauds that helped bring on the economic crisis in 2008. And he is feeling the heat. In exchange for a small fine, the settlement agreement would end the years-long investigations by New York and other states into the frauds, and would prevent them or any of the investors hurt by the frauds from ever bringing additional charges in the future.

But Schneiderman’s investigation into the shady practices behind the development and sale of MBSs isn’t complete, and signing off on such an agreement now would end his efforts and forever protect the banks from further public exposure to their back office practices.

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NY Times Targets Rep. Issa; Issa Fires Back

Darrell Issa

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The implications in the New York Times’ article about Rep. Darrell Issa (R-Calif.) were clear even in the title: “A Businessman in Congress Helps His District and Himself”—Issa was using his position as chairman of the House Oversight and Government Reform committee to enrich himself.

In the article, Eric Lichtblau implied that even the close proximity of his congressional office and his business office “on the third floor of a gleaming office building overlooking a golf course” in San Diego, signaled a highly suspect intermeshing of corporate and political interests. Lichtblau said that

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SuperCommittee Member Rep. Fred Upton Is Flexible

Rep. Fred Upton (R-Mich.) made his position on cutting entitlement spending as part of the SuperCommittee’s attempt to reduce the deficit perfectly clear, sort of: “It’s awfully hard to tell someone…who might be 82, that they’ve gotta go back to work, because their benefits are gonna be chopped. That’s not going to happen. We’re not gonna allow that to happen.” Of course, no one is suggesting any such thing.

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Some Unintended Consequences of Raising CAFE Again

New fuel economy label in 2008 shows estimated...

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With the President’s announcement of higher mileage requirements—to 54.5 mpg on new cars and trucks sold in the United States by the year 2025—came the usual promises of less dependence upon foreign oil and reduced “greenhouse gas” emissions. Said the White House blog, “Taken together, the standards established under this Administration span Model Years 2011-2015. They will save consumers money, reduce our

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Private Contractors Feeding at the Public Trough

The latest ranking of contractors providing services to the federal government reveals that at least nine of the top 10 are tied to the Department of Defense and took in nearly $70 billion of the government’s money in 2010. Leading the pack as it has for the past 17 years is Lockheed Martin, with $17 billion, followed by Northrop Grumman, Boeing, Raytheon, and General Dynamics.

The top 27 contractors each received at least $1 billion in contracts from the government last year, with Number 100 on the list, Teledyne, getting $170 million. This reflects the enormous growth of government spending in general, and on outside vendors in particular, growing from $207 billion in 2000 to

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Dems Receive 89% of Donations by Top Political Donors

The recently released study of “heavy hitters” by the Center for Responsible Politics showed the amount of money the top 140 political donors gave to Democrats and Republicans from 1989 through 2010. Four of the top six gave $170 million over that period, with $151 million going to Democrats, and less than $3 million going to Republicans (the difference going to unaffiliated or independent political groups). In simple math, Democrats received 89 percent while Republicans got less than two percent.

The top all-time political donor is

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Warren Buffet Wants his Friends’ Taxes Raised

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Warren Buffett, better known as the Oracle of Omaha, earned $40 million last year and paid $7 million of it in taxes. But in his editorial in the New York Times on Sunday, he claimed that he doesn’t think he’s paying enough, and neither are his friends. So he’s asking the SuperCommittee to stop “coddling” him and his friends, and raise their taxes as part of the deficit reduction scheme they are hatching.

He began by suggesting that

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Even Left Abandons Obama as Poll Numbers Decline

Obama Rushmore

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For the first time in his presidency, Barack Obama’s poll numbers in heavily Democratic New York have gone negative, with 49 percent disapproving of his job performance compared to only 45 percent who approve. The Quinnipiac University poll last showed the President with a 57 percent approval rating in late June, a drop of 9 points in six weeks. Among Republicans, the poll showed disapproval ratings of 86 percent, up from 74 percent in June, while among Democrats his approval rating dropped from 82 percent to 75 percent. Among independents 58 percent expressed their disapproval, up from 45 percent in June. “The evidence continues to mount,” writes Dan Weil at Newsmax.com, “that

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Nine of 12 Super Committee Members Named: Tea Party Marginalized

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Senate Majority Leader Harry Reid was the first to announce his three nominees to the “Super Committee” created by the recent debt ceiling increase, and all three fit the mold of big-spending liberals: Senators John Kerry (D-Mass.), Max Baucus (D-Mont.), and Patty Murray (D-Wash, right.), the latter of whom will also serve as co-chairman of the committee. Reid observed of his picks:

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Standard and Poor’s Extends, Defends and Explains Its Downgrade

Standard and Poor - not the most popular build...

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In a series of expected additional press releases, the Standard & Poor’s credit rating agency is expanding its downgrade of debt securities tied to the now-lower-rated sovereign debt of the United States, including Israeli bondsFannie Mae and Freddie Mac, and “pre-funded” municipal bonds. Other credits tied closely to U.S. sovereign debt are also expected to be downgraded shortly, with only a few exceptions.

Most municipal bond issues are not pre-funded with U.S. Treasury securities, and so they aren’t likely to

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Corzine to Replace Geithner as Treasury Secretary?

HOBOKEN, NJ - NOVEMBER 02:  New Jersey Gov. Jo...

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Despite protestations from Jon Corzine, former New Jersey governor, that he has no interest in taking Treasury Secretary Timothy Geithner’s place if Geithner decides to step down, Corzine did manage to have a clause put into his company’s bond offering prospectus that if he did accept the position, bond holders would be paid an extra one percent interest, just in case.

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Debt-Limit Deal’s Trojan Horse: The “Special” Committee of 12

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The debt ceiling is to rise initially by $900 billion under the Revised Budget Control Act of 2011. And then, the debt limit is to rise again by either $1.2 trillion or $1.5 trillion depending upon how successful the 12-member Joint Committee of Congress is in finding sufficient cuts in government spending to avoid a “trigger” that would do the cutting automatically. The committee will be made up of

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Debt Ceiling Crisis: Putting Things Into Perspective

WASHINGTON - JUNE 22:  U.S. Sen. Rand Paul (R-...

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The compromise bill that emerged Sunday night from behind closed doors is being loudly trumpeted in an attempt to persuade recalcitrant conservatives in both houses to vote for something—anything—in time to avoid the August 2 deadline.

A careful analysis of the ultimate compromise bill yields some important conclusions. First of all, there is nothing in the law or statutes that

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Lacking Support, Boehner Delays Debt-Limit Vote

John Boehner - Caricature

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House Speaker John Boehner’s last-minute “pep talk” to his Republican caucus early Thursday morning failed to turn the tide of Tea Partier “nays” to “yeas,” and the vote on his debt-limit bill has been postponed. Calling on them to “get…in line” because “I can’t do this job unless you’re behind me,” Boehner failed in getting the 216 votes he needed. He claimed, “The Republican proposal includes real spending cuts and reforms that will restrain future spending—and the spending cuts are larger than the debt limit increase.”

He went on to say his bill represents “the best opportunity we have to hold the president’s feet to the fire. [Obama] wants a $2.4 trillion blank check that lets him continue his spending binge through the next election. This is the time to

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Obama Battles Increasing Odds for Reelection

Barack Obama

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The latest poll by the Washington PostABC News, published last week, provided one more indication of President Obama’s increasing difficulties in generating support for his reelection campaign. When 1,001 people were asked, “Do you approve or disapprove of the way Barack Obama is handling his job as president?” almost half responded negatively, with one-third strongly disapproving, up from 24 percent just two months earlier.

And when they were asked, “Do you approve or disapprove of the way Obama is handling the economy?” nearly six in 10 disapproved, with more than four in 10 strongly disapproving. When asked how he was handling the federal budget deficit,

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“Extremist” Presidential Candidate Ron Paul

Ron Paul at the 2007 National Right to Life Co...

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Claiming that presidential candidate Ron Paul leads the “economic suicide wing” of the Republican Party, Brent Budowsky, writing for The Hill, says that Paul is the “worst possible role model” for Republicans because he suggested that a default by the government “would be OK.” Budowsky calls Paul a “Banana Republican,” claiming that Paul is taking an extremist position, adding that keeping the debt ceiling in place and putting the government on a diet would “literally crash American and global markets…that would do grave damage to our nation.”

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Debt Ceiling Talks: from Disagreement to Impasse to Crisis

Partisan Fail

Image by colarusso via Flickr depicting a political take on the Twitter "FAIL Whale" screen.

House Speaker John Boehner walked away Friday from debt ceiling negotiations with President Obama, saying that the White House had “moved the goalposts” in their weeks-long effort to come to terms acceptable to both Republicans in the House and Democrats in the Senate.

In his letter to members of the House, Boehner said, “During these discussions…it became evident that the White House is simply not serious about ending the spending binge that is destroying jobs and endangering our children’s future…. In the end, we couldn’t connect. Not because of different personalities, but because of different visions for our country.”

He went on to say:

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Minnesota Shutdown Ends with Compromise Pleasing No One

Minnesota State Representative Mindy Greiling

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Now that the Minnesota state government shutdown has ended, details of the compromise between Governor Mark Dayton and the Republicans are now public—and no one is happy.

At issue was the $5-billion shortfall between revenues and spending. Liberal Governor Mark Dayton had his own plan for bringing in more revenue: “I believe the wealthiest Minnesotans can afford to pay more taxes,” he commented. Conservative Republicans in the state House and Senate, including House Speaker Kurt Zellers and Senate Majority Leader Amy Koch, dug in their heels on any tax increase whatsoever. In the end, both sides lost. As noted when the Minnesota state government shut down, the real bottom-line question had

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August 3: Day of Reckoning

Obama money!

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On Tuesday evening, President Obama was being interviewed by Scott Pelley, who asked the President whether he could guarantee that Americans would get their Social Security checks if the debt ceiling weren’t raised:

Pelley: Can you tell the folks at home that, no matter what happens, the[ir] Social Security checks are going to go out on August the 3rd?

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Bohemian Grove: Where the Elite Meet to Eat (and Conspire)

Bohemian Grove

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Debra Saunders complained that, because she is a woman, she wasn’t invited to the upcoming Bohemian Club meeting which begins this Thursday at the Bohemian Grove retreat center an hour’s drive north of San Francisco. Even if she were a man, she most likely still wouldn’t be invited as she is not a member of the “elite.”

Founded just after the Civil War by Henry “Harry” Edwards as a private camp where bohemians—artists and writers—could go to relax and recuperate from the rigors of the work-a-day world, over time the club’s membership evolved to include the rich and powerful, which now numbers over 2,400.

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.