Stock Markets and BP

First I want to say I am proud to be part of the U.S.Constitutional Free Press they are doing a great job keeping the American people informed about anything that the are not getting fom other media sources keep up the great work everyone

News Free Press Of Kooskia Idaho Logo 2 June 17,2010 

Hello Everyone,

                               First I want to say I am proud to be part of the The U.S. Constittional Free Press, they are doing a great job. Keeping the American people informed about anything that they are not getting from other media sources. Keep up the great work everyone.

                               Lets start with BP British Petroluim it has come out in the last couple of days, that a new estimated amount of oil being poured into the waters of the Gulf. They are saying 30 to 60 thousand Gallons a day is spilling in the ocean,  which equels making an Exxon Valdes every 5 days. We are now on day 59 of this massive leak of oil,   

                               BP is an 80 Billion dollar company, and this spill could exceed the value of the company. In Europe they are saying that BP could have to file for Bankruptcy before the well is capped.  just this week they are saying that BP could spend 81 Billion dollars to just clean up this oil in the Gulf. Thats not even touching on the amount of money that will make the people of the affected area of the Gulf made whole. The Macondo well is spilling about 2.50 Million Gallons per day into the Gulf.  

                            Today it came out the President of the USA gave Mr George Soro’s own oil company the one he owns 80 percent of in Brazil 2 Million Dollars, Mr Soro’s has 80 Billion dollars in an oil company so whats the 2 Million Dollars for well its for drilling in the Deep waters of of Brazil for oil.   Mr Soro’s has been one of President Obama’s advisors on this oil spill.   

                              This week an new Fund was started for the people affected by the oil spill in the Gulf, and its being headed up by Kenneth Feinberg. Yes the same Gentleman that headed up the 911 fund, money was miss handled Mr Obama chose Mr Feinberg he said for his fine work with 911 fund. more to come about BP .

                               Now onto Information about the stock Market this last 2 weeks. This week California that they have a zero cash flow, just by saying that they are saying they are broke. What will happen next is that we have to bail them out, so here is what I say to CA inadvance  of their request for a loan. Tighten your wallets, pay off your bills, use the tenth Admendment of the state Constitution. Alot of the state spending is their fault, the rest of it is the federal Governments Fault. So CA get some guts to tell the Federal Government to keep their Mandates, next go through all of your monthy bills, pick all the important ones pay for those. And get rid of all of the waste and fruad and abbuse. There are at least 16 other states in the same boat, and that boat is about to sink into an never ending sea of constant. Debt I say that you need a realistic  Budget. There are 22 other states that are in so bad a shape that they will be cutting back on retirement benifits for their state employees, not suprised that Idaho is one of those 22 States in Dire straits.

                           There is someone that could teach you how to stay within your means. I have no debt other then my land, which will be paid of in about the next 1 year and half. My house is not finished, why becuase I have not gotten a loan to pay for the supplies to finish it but it is getting done.

                                        this next couple of weeks I will finaly have a closet, to put clothes in. I have been living out of a suitcase for the 12 years, I have lived here. Now before all of you yell at my husband, for me not having closets. Dave is a hard working man, he does a lot of honey do’s arround here. He tried to get the closets done while I was on my Mothersday vacation. I just got back before they were done lol. Anyways back to what I was saying about being Debt free. We dont spend money we dont have. We save up for everything we want, I am putting a business together piece by piece. I save up for awhile spend some on the things I need for my business, then I save up some more. I am not like the Government can’t borrow money, or print my own money. So I have to live within my means.  I feel its way past the time the  States get there act together.

                               This week Greece has been downgraded to BA1 statice which is junk Bond statice , and next week france will have their rating lowered to AA statice from AAA the rating.  Are done by Moody’s and this week I found out whom owns most of Moody’s.  This week I Found out that Moody’s is owned by Halliburtan and they are owned by Warren Buffett owns stock in both Halliburtan and Moody’s. well I will end this blog for today and will write my next blog on http://NewsFreePress.wordpress.com I should have a blog there in about 24 hours from now have a great day.

                             Tonight I will co host News Free Kooskia Idaho at this link http://www.blogtalkradio.com/News-Free-Kooskia-ID   tonights show airs at 9pm Pacific and 10pm Mountain and 11pm Central and 12am Eastern time zones Tonight is our Thrsday night Ham Radio show with Dave Brainerd wb6dhw

Is Gulf Blowout Like 9/11?

Politico has reported, “Sounding reflective as he heads into a bruising electoral season, President Barack Obama told POLITICO columnist Roger Simon that the Gulf disaster ‘echoes 9/11′ because it will change the nation’s psyche for years to come.”  What in the hell is he talking about?!  The devastation of 9/11 was due to a terrorist attack on this nation.  Perhaps the President got manmade disaster mixed up with enviromental disaster?  Since the Obama administration detests the term “terrorism.”

While the oil blowout in the Gulf is devastating, it does not effect the entire nation’s psyche.  This comment makes it even more obvious that the President is clueless and out of touch.  While we spent the months after 9/11 recovering from the shock of the attack and trying to figure out why terrorists would want to hurt us and even more importantly, living in fear that the next attack could happen at any moment, we will not spend the months following this accident dealing with those same issues.  The country will not be going to war over the oil blowout either.  And BP is responsible monetarily for this cleanup, while we are on the hook to pay for the War On Terrorism.

Possibly the President is wanting to use 9/11 imagery to tip the American psyche in favor of his Crap & Tax agenda.  Obama as much as admitted this by saying, “In the same way that our view of our vulnerabilities and our foreign policy was shaped profoundly by 9/11, I think this disaster is going to shape how we think about the environment and energy for many years to come.”  If he can convince the nation that the situation is dire and that we can never again let this happen, Americans might be willing to support his agenda and the Green Industrial Complex.  That is precisely why he is allowing this disaster to expand and get as bad as it has as well.  There is no way that our government and the military are this incompetant.  It is obvious they are doing this on purpose.

Obama Risks a Domestic Military Intervention

Here is the full text of John L. Perry’s column on Newsmax which suggests that a military coup to “resolve the Obama problem” is becoming more possible and is not “unrealistic.” Perry also writes that a coup, while not “ideal,” may be preferable to “Obama’s radical ideal” — and would “restore and defend the Constitution.” Newsmax has since removed the column from its website.

Obama Risks a Domestic Military Intervention

By: John L. Perry

There is a remote, although gaining, possibility America’s military will intervene as a last resort to resolve the “Obama problem.” Don’t dismiss it as unrealistic.

America isn’t the Third World. If a military coup does occur here it will be civilized. That it has never happened doesn’t mean it wont. Describing what may be afoot is not to advocate it. So, view the following through military eyes:

# Officers swear to “support and defend the Constitution of the United States against all enemies, foreign and domestic.” Unlike enlisted personnel, they do not swear to “obey the orders of the president of the United States.”

# Top military officers can see the Constitution they are sworn to defend being trampled as American institutions and enterprises are nationalized.

# They can see that Americans are increasingly alarmed that this nation, under President Barack Obama, may not even be recognizable as America by the 2012 election, in which he will surely seek continuation in office.

# They can see that the economy — ravaged by deficits, taxes, unemployment, and impending inflation — is financially reliant on foreign lender governments.

# They can see this president waging undeclared war on the intelligence community, without whose rigorous and independent functions the armed services are rendered blind in an ever-more hostile world overseas and at home.

# They can see the dismantling of defenses against missiles targeted at this nation by avowed enemies, even as America’s troop strength is allowed to sag.

# They can see the horror of major warfare erupting simultaneously in two, and possibly three, far-flung theaters before America can react in time.

# They can see the nation’s safety and their own military establishments and honor placed in jeopardy as never before.

So, if you are one of those observant military professionals, what do you do?

Wait until this president bungles into losing the war in Afghanistan, and Pakistan’s arsenal of nuclear bombs falls into the hands of militant Islam?

Wait until Israel is forced to launch air strikes on Iran’s nuclear-bomb plants, and the Middle East explodes, destabilizing or subjugating the Free World?

What happens if the generals Obama sent to win the Afghan war are told by this president (who now says, “I’m not interested in victory”) that they will be denied troops they must have to win? Do they follow orders they cannot carry out, consistent with their oath of duty? Do they resign en masse?

Or do they soldier on, hoping the 2010 congressional elections will reverse the situation? Do they dare gamble the national survival on such political whims?

Anyone who imagines that those thoughts are not weighing heavily on the intellect and conscience of America’s military leadership is lost in a fool’s fog.

Will the day come when patriotic general and flag officers sit down with the president, or with those who control him, and work out the national equivalent of a “family intervention,” with some form of limited, shared responsibility?

Imagine a bloodless coup to restore and defend the Constitution through an interim administration that would do the serious business of governing and defending the nation. Skilled, military-trained, nation-builders would replace accountability-challenged, radical-left commissars. Having bonded with his twin teleprompters, the president would be detailed for ceremonial speech-making.

Military intervention is what Obama’s exponentially accelerating agenda for “fundamental change” toward a Marxist state is inviting upon America. A coup is not an ideal option, but Obama’s radical ideal is not acceptable or reversible.

Unthinkable? Then think up an alternative, non-violent solution to the Obama problem. Just don’t shrug and say, “We can always worry about that later.”

In the 2008 election, that was the wistful, self-indulgent, indifferent reliance on abnegation of personal responsibility that has sunk the nation into this morass.

Going “Green” Is Bunk

By: John Stossel

I ride my bike to work. It seems so pure.

We’re constantly urged to “go green” — use less energy, shrink our carbon footprint, save the Earth. How? We should drive less, use ethanol, recycle plastic and buy things with the government’s Energy Star label.

But what if much of going green is just bunk? Al Gore’s group, Repower America, claims we can replace all our dirty energy with clean, carbon-free renewables. Gore says we can do it within 10 years.

“It’s simply not possible,” says Robert Bryce, author of “Power Hungry: The Myths of ‘Green’ Energy.” “Nine out of 10 units of power that we consume are produced by hydrocarbons — coal, oil and natural gas. Any transition away from those sources is going to be a decades-long, maybe even a century-long process. … The world consumes 200 billion barrels of hydrocarbons per day. We would have to find the energy equivalent of 23 Saudi Arabias.”

Bryce used to be a left-liberal, but then: “I educated myself about math and physics. I’m a liberal who was mugged by the laws of thermodynamics.”

Bryce mocked the “green” value of my riding my bike to work:

“Let’s assume you saved a gallon of oil in your commute (a generous assumption!). Global daily energy consumption is 9.5 billion gallons. … So by biking to work, you save the equivalent of one drop in 10 gasoline tanker trucks. Put another way, it’s one pinch of salt in a 100-pound bag of potato chips.”

How about wind power?

“Wind does not replace oil. This is one of the great fallacies, and it’s one that the wind energy business continues to promote,” Bryce said.

The problem is that windmills cannot provide a constant source of electricity. Wind turbines only achieve 10 percent to 20 percent of their maximum capacity because sometimes the wind doesn’t blow.

“That means you have to keep conventional power plants up and running. You have to ramp them up to replace the power that disappears from wind turbines and ramp them down when power reappears.”

Yet the media rave about Denmark, which gets some power from wind. New York Times columnist Thomas Friedman says, “If only we could be as energy smart as Denmark.”

“Friedman doesn’t fundamentally understand what he’s talking about,” Bryce said.

Bryce’s book shows that Denmark uses eight times more coal and 25 times more oil than wind.

If wind and solar power were practical, entrepreneurs would invest in it. There would be no need for government to take money from taxpayers and give it to people pushing green products.

Even with subsidies, “renewable” energy today barely makes a dent on our energy needs.

Bryce points out that energy production from every solar panel and windmill in America is less than the production from one coal mine and much less than natural gas production from Oklahoma alone.

But what if we build more windmills?

“One nuclear power plant in Texas covers about 19 square miles, an area slightly smaller than Manhattan. To produce the same amount of power from wind turbines would require an area the size of Rhode Island. This is energy sprawl.” To produce the same amount of energy with ethanol, another “green” fuel, it would take 24 Rhode Islands to grow enough corn.

Maybe the electric car is the next big thing?

“Electric cars are the next big thing, and they always will be.”

There have been impressive headlines about electric cars from my brilliant colleagues in the media. The Washington Post said, “Prices on electric cars will continue to drop until they’re within reach of the average family.”

That was in 1915.

In 1959, The New York Times said, “Electric is the car of the tomorrow.”

In 1979, The Washington Post said, “GM has an electric car breakthrough in batteries, now makes them commercially practical.”

I’m still waiting.

“The problem is very simple,” Bryce said. “It’s not political will. It’s simple physics. Gasoline has 80 times the energy density of the best lithium ion batteries. There’s no conspiracy here of big oil or big auto. It’s a conspiracy of physics.”

Examiner Columnist John Stossel is nationally syndicated by Creators Syndicate.

SEIU Thugs Becoming Terrorists?

by Liberty Chick

By now, you’ve probably seen the mob-scene that developed on the front lawn of the private residence of Greg Baer, deputy general counsel for corporate law at Bank of America. This was planned for some time by the SEIU as part of a larger national event, their Showdown on K Street, which was shared with National People’s Action and thousands of other activists from MoveOn.org and other left-wing groups.

Prior to the main event on K Street in Washington DC, SEIU and company made a little pit stop. According to Fortune magazine Washington editor Nina Easton, 14 busloads of riled up protesters unloaded on Baer’s private property and stormed up to his doorstep, while his teenage son was home alone. Easton is a neighbor of Baer’s and had called to check on her neighbor’s son when she heard and saw all the commotion outside. Easton writes,

“Waving signs denouncing bank “greed,” hordes of invaders poured out of 14 school buses, up Baer’s steps, and onto his front porch. As bullhorns rattled with stories of debtor calls and foreclosed homes, Baer’s teenage son Jack — alone in the house — locked himself in the bathroom. “When are they going to leave?” Jack pleaded when I called to check on him.

Baer, on his way home from a Little League game, parked his car around the corner, called the police, and made a quick calculation to leave his younger son behind while he tried to rescue his increasingly distressed teen. He made his way through a din of barked demands and insults from the activists who proudly “outed” him, and slipped through his front door.

“Excuse me,” Baer told his accusers, “I need to get into the house. I have a child who is alone in there and frightened.”

Imagine what you would have done if your child were inside that house and that mob was on your front lawn as you tried to reach him.

Amazingly, the SEIU has actually taken aim at Easton for reporting on this incident. Their defense? Easton’s husband is a Republican strategist and has a lobbyist as a client – oh, the horror! (Especially considering that the SEIU itself is also a lobbyist). In their post “Nina Easton & the Bank Lobbyists: Too Close for Comfort,” SEIU’s crack Googlers researchers break the case wide open:

“The really interesting question here is: why is Ms. Easton so angry? And why has she decided to use her position as a member of the media to air her own personal rant at the people who showed up to share their foreclosure stories?

Nina Easton’s husband’s firm has Business Roundtable as a client, a special interest group that counts giant banks like Bank of America as members.

One Google search clears it up pretty quickly. Her husband is Russell Schriefer, Republican strategist and consultant to several big corporate interest groups. In fact, her husband’s client list includes the Business Roundtable, a special interest group that counts Bank of America and other Wall Street banks among its members.

Ms. Easton’s husband used to be a corporate lobbyist himself, before he started his own consulting firm for Republican politicians and corporate interest groups like the Business Roundtable and the Chamber of Commerce. Now, according to his website, he helps garner positive media for “a wide range of corporate clients including Fortune 500 companies and national associations.”

Wow. Amazing. That kind of muckraking puts my time working at LexisNexis to shame. Perhaps I should take SEIU’s employment recruiters up on one of their recent job offers sitting in my email inbox. (really, they are hiring, and they did email…can you imagine that job interview?)

But what’s even more interesting, to use SEIU’s phrase, is the labor union’s odd relationship with its own business and advocacy partners. They specifically mention above their disdain for Business Roundtable, for their part as what they term as a Republican corporate interest group. But, just like Bank of America – which is a lender to SEIU, mortgage partner to ACORN, and is also the leading lending partner to SEIU advocacy partner, Center for Responsible Lending – one of SEIU’s own partners is also Business Roundtable.

“Today, three of the nation’s leading consumer, business and labor organizations announced that they will work together to urge action from political leaders in a partnership called Divided We Fail. AARP, Business Roundtable and SEIU will use the influence of their over 50 million combined memberships to amplify the message that attaining health and long-term financial security is vital for all Americans and these issues must be included in the national political debate.

Divided We Fail is a national effort designed to engage the American people, elected officials and the business community to find broad-based, bi-partisan solutions to the most compelling domestic issues facing the nation – health care and the long-term financial security of Americans.”

Ouch, talk about biting the hand that feeds you.

The current circumstances are also rather interesting because recently, Tea Party and 912 Project groups have been protesting Bank of America, too. For SUPPORTING the financial regulatory reform bill currently in Congress. You know, the one that Big Labor is supporting with Democrats – the one that proposes the big banks and government spy on your bank accounts and report your loan info to a big government database for all to see? Yeah, that bill. Bank of America lobbyists have been busy lobbying Democrats and donating money to Democrats.

I think the folks at SEIU may be a bit confused over there – first they storm private property and intimidate a teenage child, then they bite the hands that feed them, and they overlook all the money flowing into the Democratic coffers on this bill and selectively go after only seemingly Republican targets. Only, their targets aren’t Republican at all. This one in particular – definitely not a Republican, as Easton describes Baer:

“Instead, a friendly Huffington Post blogger showed up, narrowcasting coverage to the union’s leftist base. The rest of the message these protesters brought was personal-aimed at frightening Baer and his family, not influencing a broader public.

Of course, HuffPost readers responding to the coverage assumed that Baer was an evil former Bush official. He’s not. A lifelong Democrat, Baer worked for the Clinton Treasury Department, and his wife, Shirley Sagawa, author of the book The American Way to Change and a former adviser to Hillary Clinton, is a prominent national service advocate.”

Just imagine if the union of We the People mobilized its own protests to put a stop to the tactics of domestic terrorism of today’s leftist unions.

——–

Also be sure to catch this related post from LaborUnionReport titled “The SEIU, the NPA & Organized, Premeditated Intimidation“.
The really interesting question here is: why is Ms. Easton so angry? And why has she decided to use her position as a member of the media to air her own personal rant at the people who showed up to share their foreclosure stories?
bizroundtableb.jpg

Nina Easton’s husband’s firm has Business Roundtable as a client, a special interest group that counts giant banks like Bank of America as members.

One Google search clears it up pretty quickly. Her husband is Russell Schriefer, Republican strategist and consultant to several big corporate interest groups. In fact, her husband’s client list includes the Business Roundtable, a special interest group that counts Bank of America and other Wall Street banks among its members.

Ms. Easton’s husband used to be a corporate lobbyist himself, before he started his own consulting firm for Republican politicians and corporate interest groups like the Business Roundtable and the Chamber of Commerce. Now, according to his website, he helps garner positive media for “a wide range of corporate clients including Fortune 500 companies and national associations.”

Let It Burn

By Demosthenes

For the past hundred years, America has been slowly moving away from the principles of its founding. The ideals of liberty, individual achievement, limited government, and the equality of opportunity have been slowly supplanted by calls for security, class warfare, excessive regulation, and the equality of outcome. The passage of stimulus acts, bailouts, government takeovers of two U.S. automakers, and the health care overhaul prove that our movement away from 1776 has accelerated.

Passage of the health care bill has sparked a revival of small-government thinking, causing many to predict significant Republican gains in Congress this fall. But despite some short-term success, this small-government revival is doomed to fail. The depressing truth is that the only way to regain the full measure of those freedoms proclaimed in our Founding Documents is for our current federal government to completely collapse under the weight of its own excesses.

Often, one carefully articulated analogy can succinctly convey a very complex idea. In our case, that analogy is addiction. Over the past hundred years, we have slowly allowed a monstrous system of dependence to develop until nearly every citizen relies upon government money, and thus is an addict. This has come about because the hard logic of the Founders has been replaced by the seductive ease of emotional arguments. All too often, the debate is over not if government should do something, but what it should do. This almost imperceptible shift in our national philosophy is a manifestation of our addiction.

While the citizen-addict is hooked on government largesse, the politician-addict is hooked on something far more sinister: power. Their drug is available in Washington, D.C. Just as a dealer will go to any length to continue selling his wares, politicians will stop at nothing to retain their power. These two groups of addicts are locked in mutual co-dependence, where the politician-addict seeking re-election buys off the citizen-addict with more spending. Then the citizen-addict, seeking yet another free lunch from Washington, reelects the politician-addict. The result is endless, ever-expanding government programs and our current fiscal nightmare.

The persistence of these programs has nothing to do with their success. They continue because we are more concerned that our actions are deemed compassionate than whether our programs are actually successful. If we truly wanted to help people save for retirement, we would not establish a program with a meager 1.23% rate of return while simultaneously supporting a monetary policy of systematic inflation. Yet these and other ineffective or even counterproductive programs continue. Such willful blindness to economic reality cannot be sustained indefinitely. The Congressional Budget Office has recently stated that our national debt will constitute 90% of our gross domestic product — that is 20.3 trillion dollars — in just ten years. What is even more shocking is that these debt numbers do not include the unfunded liabilities of Medicare and Social Security, which currently rest at 107 trillion dollars. Sadly, this trend cannot be stopped.

If Republicans take control of the House and Senate, and if they repeal the health care bill, then they will not be able (or likely even try) to reform Medicare or Social Security. These programs alone will bankrupt our nation. Yet they are untouchable because a large number of Americans have come to depend upon these benefits. They have become unknowingly hooked. Senior citizens have organized their financial futures around the twin promises of Social Security and Medicare and will naturally resist any change to either. George W. Bush knew this when he attempted his overhaul of Social Security. That is why his plan to privatize retirement savings was voluntary and would have excluded those over 55. Nevertheless, it was easy for the politician-addicts to scare the citizen-addicts, and his plan was defeated.

“They that can give up essential liberty to obtain a little temporary safety, deserve neither liberty or safety.” This quote by Ben Franklin is often used by civil libertarians in opposition to government security programs such as the Patriot Act. But this sentiment is equally applicable to those who would give up economic liberty to obtain economic safety. The economic attitude of the nation has shifted. We are no longer a nation of self-sufficient, rugged individualists; we are now a nation of addicts, hooked on a politician’s promises of economic safety.

This is why America is lost. Too many Americans are hooked for us to return to a sound economic footing via the normal political processes. Our efforts to moderate the most radical agendas — welfare reform, for example — serve only to delay the inevitable. In fact, many of those reforms are quietly undermined as the slow march towards collapse continues. We cannot alter our current trajectory; expansive government, greater entitlements, and ever-increasing taxes are our fate. Attempts by responsible citizens at reform will be only partially successful, not changing the fundamentals of our dilemma.

The addict analogy carries through to recovery. For most addicts, recovery can begin only once they have descended so far in their addiction that they lose everything, a process often called “hitting bottom.” Sometimes there is no recovery, and hitting bottom means death. But for others, hitting bottom is a tremendous learning experience, and they emerge as better people. America is addicted. The decline has begun, and now our nation must hit bottom.

Detoxing America will cause social, political, and economic strife of a sort unimaginable, and yet it is a process we must endure. Hitting bottom is our only hope for a national rehabilitation. It is our only chance for a true reacquaintance with those principles that made this the greatest nation on earth: liberty, individual achievement, limited government, and the equality of opportunity.

Demosthenes is a lawyer whose current employment prohibits taking a public position on political issues.

Big Banks, Big Government and Big Labor, Oh My….

by Liberty Chick

The financial reform bill is finally in its home stretch in the Senate, but Americans have yet to fully engage on the issue. In fact, in recent weeks as I’ve worked with various grassroots leaders across the country to discuss the bill, its impacts on our economy and on us as American citizens, I must admit, it’s probably the first time I’ve ever found myself frustrated at the progress of activism.

It’s a complex issue, and let’s face it, not exactly an exciting one either. But that’s precisely what the left is counting on. So, whenever I find myself feeling frustrated that others might not share my same level of fervor on the issue, I remind myself of its complexity and lackluster appeal. And then, I proceed directly to the source – the bill itself.

I hone in on a few key points in three categories that resonate with most activists I know: Big Labor, Big Government, and Big Brother. Put those together in the context of Big Banks, and they spell out big disaster.

As the left goes on demonizing Wall Street and big bankers on one hand, Democratic lawmakers on the other hand are busy making sweetheart backroom deals with them up on Capitol Hill, promoting their legislation to the public as “consumer protection.” But really, such measures are nothing more than payback to the likes of three-way mortgage entitlement partnership stronghold of the Bank of America, Center for Responsible Lending and Fannie Mae.

Meanwhile Democrats and Obama allies like Organizing for America are also using the issue as a shameless fund-raising opportunity.

The banks actually SUPPORT this bill – so don’t let that “Main Street Not Wall Street” message fool you, no matter which side of this issue you’re on.

Once many people learn about some of what’s in the bill, their reaction of immediate remorse followed by outrage is completely understandable. Remorse – for some – for not having engaged their grassroots groups earlier. Outrage over just how much this bill would push the country head first toward socialism. That’s right, I said the “s” word. Let’s stop pretending and just call it for what it is, shall we? Even old school Democrats I talk to feel the same outrage and see the “s” word coming as the result of this bill. Facing down the inevitable is the only way we’re going to be able to tackle what the radical left has snuck into this thing. All the while, they have been counting on the apathy of average citizens on BOTH sides, and on the burnout of Tea Party and other patriot group activists.

The reality is this: If we sit back and allow this bill to pass the Senate in its current form, then we deserve the destruction of our privacy, our liberties and of our free market system that will follow. WE will be the only ones to blame. Because as bad as we all thought the Health Care bill was for our freedoms, the Financial Reform bill makes Health Care pale in comparison. No level of remorse could suffice if we failed to engage every last patriot, every last Paul Revere and Sam Adams , during these final days of the legislation.

I’ve found that one way to help other activists digest this bill has been to put all of the actual financial details aside and focus solely on some of the parts of the bill that demonstrate the erosion of our personal liberties and the free market system as we know it.
Big Labor: Dismantling the Free Market System

Under the American Financial Stability Act of 2010 (S 3217), several provisions tucked away in the bill will give labor bosses unprecedented powers that, especially if abused, could threaten the very structure of our free market system.

* Financial institutions and other covered businesses could be required by law to give labor unions “Proxy Access”, enabling union bosses to potentially abuse the system to force unrelated agenda items, like unionizing the firm’s employees, before the shareholders
* New regulations will control how board of director elections are conducted – at private corporations!
o The SEC would be granted the power to force the names of outside nominees onto the corporate ballot (as reported by Politico)
o Directors running in an uncontested election would now be required to win a majority of votes cast, rather than only by the current plurality(as reported by Politico)
* Similar rules will also determine whether an individual may serve as both the CEO and Chairman of the Board – at a private corporation!
* Government and labor unions will have “say on pay” for the annual salaries and bonus compensation of executives and other employees. Essentially, like Obama himself, they can determine at what point “someone has made enough money”

I don’t think anyone’s against shareholders having their proper say and representation in the corporate management process. But that’s not really what’s behind these pieces of the legislation. We’ve seen how today’s labor bosses are abusing their powers and using the shareholder resolution as a hostage weapon to bully corporations into unionization and special union concessions. Just read my prior post, “SEIU’s Secret Weapon: If Obama’s Plan Fails, Brandish the Shareholder Resolution” for a taste of that tactic.

It’s been known for some time that labor bosses are now organizing on a global scale, and as such, have taken to the Participative Management style common in European workplaces. In the U.S., private corporations might typically achieve a similar democratic process of employee participatory management when the company enters into a direct employee ownership plan. The difference here however is that we’re talking about companies that do not belong to the labor unions – these are companies in which the union might have a pension fund investment, or perhaps some of its workers unionized on premise. These are private companies that the unions attempt to overtake through such smaller connections to earn a place on the board, and then change it from the inside out until a Participative Management environment is achieved. If that achievement were to occur, US corporations would quickly fold and restructure under a more socialist model. Eventually, the free market system would erode away as labor unions take over the boards of once privately owned corporations.

For weeks now, Ive been searching for the resources to help me describe this threat in simple terms, and just as fate would have it, my friend Peter List over at LaborUnionReport and RedState pens the perfect post describing this with clarity and precision, in his post titled “Changing America Forever: Behind the AFL-CIO’s Push for Financial Reform.”
Big Government: Power, Control and Everlasting Entitlements

* A new agency, the Consumer Financial Protection Agency, or CFPA, would serve as massive bureaucracy that would control everything from defining the types of loans consumers may be permitted to purchase, to expanding redlining provisions and subsequent mortgage entitlement programs. (And let’s not forget that the head of this agency would be Eric Stein, who ran the Center for Responsible Lending, and before that worked at Fannie Mae)

* The CFPA’s authority goes far beyond banks or financial institutions. This new bureaucracy would have the power to regulate hundreds of thousands of businesses. Examples of small businesses that would be subject to CFPA oversight (as outlined by the US Chamber of Commerce):
o A nonprofit organization that provides financial literacy education
o A software company that creates products to help consumers manage their money
o An advertising company that provides services relating to financial products
o Utilities companies, retailers and even doctors that extend credit to their customers.

* The Consumer Financial Protection Agency, or CFPA, created in the bill would be housed within the Federal Reserve, an already secretive and unchecked force of power in our financial system that insists on going unaudited
* A government agency will have unlimited executive bailout authority, including the power to pick and choose which companies are saved and which are left to fail. This creates serious potential for abuse, as private corporations could literally live or die based upon political decisions
* This bill contains the same language used by groups like the Center for Responsible Lending in the redlining laws and changes to the Community Reinvestment Act in 1995 for special research centers and programs “that promote awareness and understanding of the access of individuals and communities to financial services, and to identify business and community development needs and opportunities”

And we all know what happened as the result of those redlining laws and subsequent CRA changes in 1995.
Big Banks: Empowered by Big Government, Become Big Brother

Finally, in order to justify all these entitlement programs, all this forced unionization, all this takeover of private companies’ boards of directors, the government needs research. Not to worry, the bill creates vehicles for that, like the “Office of Financial Research” and a national database for the collection of your personal bank account and loan information, and various deposit account data.

Fannie Mae and Bank of America will be so thrilled when this passes the Senate (as will ACORN and SEIU). Thanks, of course, to years of lobbying by organizations like the Center for Responsible Lending. After all, they pioneered the use of banking research to mandate mortgage entitlements. Just imagine all the new entitlements that will be created once they can analyze all of that *new* banking information and data on what we’re purchasing. Someone will find some injustice somewhere in there. You can count on that.

If you haven’t been as interested in all the complex language about things like financial derivatives and credit default swaps in this bill, then all of this above should be plenty for you to be concerned about.