$6 billion payoff: Barney Frank gives in to Congressional Black Caucus shakedown crew
Cue up “Do the Hustle.” Looks like the extortionists of the Congressional Black Caucus got their way.
Last week, I noted the CBC’s efforts to squeeze bailout money from the Democrats’ financial “reform” package for minority-owned businesses — specifically, the failing radio/media empire of former Malcolm X lawyer and Air America/Jesse Jackson/Al Sharpton/Charlie Rangel crony Percy Sutton of Inner City Broadcasting Corp.
Well, tonight the Associated Press reports that House Financial Services Committee Chairman Barney Frank coughed up the dough. Your dough, that is. The bribe will be siphoned from the endlessly morphing TARP fund. Not that Frank really fought that hard. What’s it to him? It’s not his money:
Call it the $6 billion boycott.
By boycotting a key House committee vote last week and threatening to abandon support for banking regulations, members of the Congressional Black Caucus got $4 billion added to a Wall Street regulation bill and $2 billion to a proposed House jobs bill in spending they sought for African American communities.
House Financial Services Committee Chairman Barney Frank, D-Mass., this week inserted $3 billion to the legislation to provide low-interest loans to unemployed homeowners in danger of foreclosure. He added $1 billion for neighborhood revitalization programs.
The money would come out of the $700 billion financial rescue fund.
“For those of us who walked out, it was absolutely essential that we have parts of that legislation directed toward helping people who have been left out of all of these bailouts,” Rep. Emanuel Cleaver, D-Mo., one of 10 black caucus members in the Financial Services Committee, said…Among the caucus’ demands were greater assistance for minority-owned auto dealerships and banks that lend in African-American communities and more government advertising in minority-owned media.
No word on how much of a cut the wealthy minority businessman Percy Sutton will get.
Or whether corruptocrat Maxine Waters’ favorite bank, OneUnited, will snag an even bigger share of TARP funds from this new deal. Rremember: she has already finagled $12 million in TARP money for OneUnited, one of her key campaign donors and a company in which both Waters and her husband own massive amounts of stock.
Mark Penn got his. The CBC’s got to get theirs.
Power to the people!
***
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The culture of corruption strikes again
Barney should be in jail.
No one person in the world had more to do with the crash of world wide economies than Barney Frank….and now he benefits even more from that crime while giving away the people’s hard earned money to additional undeserved recipients.
Just how the whole frickin thing got started.
BURN in He#% Barney, burn in he&l.
Disgraceful. Pathetic. Sad.
It’s not the illegal corruption that is so offensive, it’s the BRAZEN LEGAL corruption. William Jefferson is in prison for the rest of his life for less. Bernie Madoff is a piker compared to our entrenched criminal class of elected weasels.
You have to wonder how such people can sleep at night.
Is this even legal the way the TARP has morphed into so many different things?
Tip:
http://www.guardian.co.uk/world/2009/dec/10/egypt-underground-wall-gaza
Egypt builds ‘apartheid wall’ to cut off Gaza tunnels… No peep from rabid peaceniks and outraged Arabs
Unbelievable, US helps secure Egypt’s border while ignoring border on own US turf
Thank you (in lieu of more appropriate words) LBJ.
Racism is a very lucrative business.
The Congressional Black Caucus should have been arrested trying to re-enter the U.S. after their last trip to Cuba.
They dissed their own country on the streets of Habana.
Traitors, all.
Is this where I should break out in a chorus of “Oh Happy Day!”?
After all, another Barney Frank BOHICA moment brought to you by Rev. Jesse, Rev Al and Rev. Wright. Hallelujah! Where’s the Whiskey?
Just another “Back-Door-Deal” from Bawney Fwank.
Note to self: gotta be careful, could be construed as hate-speech.
Meanwhile, back at the ranch, Chris Matthews’ leg is tingling at the thought of a “back-door-deal”.
Film at eleven…
Awww TARP SHTARP. I wondered how long it would take for this to become a blatant slush fund.
Thieves.
Remember when Byrd was yammering on about the Bush tax cuts? How he would take his car to get it fixed, and if it wasn’t fixed right, he didn’t want his money back (meaning he wanted to keep the taxes rather than us getting them back) he wanted his car fixed?
Remember all the lies they told about fixing government if they could just keep the money rather than provide the tax cuts?
Well, I’ve had more than enough. I want my money back.
On December 11th, 2009 at 2:46 am, Republicanvet said:
Too many lies. The Democrats told us when they were out of power they’d fix the problems with Medicare and Medicaid. Those are still going broke and the ‘cure’ as seen in the current round of ‘health care reform’ is to rob from them to create another larger bureaucratic monstrosity that will undoubtedly run out of money too quickly.
They told us that they could ‘stamp out poverty in our lifetime’. They haven’t because it gives them voters.
They told us that they’d give us ethical and transparent government. Bojemoi! they haven’t.
Both parties at this point are built on a foundation of lies and deceit.
Maybe a real change might be the answer.
It would be better off if Members of Congress were authorized to just write whatever checks they want to “CASH”.
Take this case. In order to steal $6 Billion for Percy Sutton, the CBC is authorizing the expenditure of $700 Billion. That’s a return of less than one penny on the dollar. And when you consider the kickbacks from Sutton will probably only be a fifth of that, maybe $1 Billion, the deal gets even worse.
That is intolerably inefficient.
But if the CBC were able to just write a $6 Billion Treasury Check directly to Percy Sutton’s Cayman Island bank account, we could prevent another $694 Billion from being added to the deficit.
Think of the savings to the taxpayer!
It would be far better if they could just write checks for whatever they want, so they would not have to come up with ever-more ridiculously bloated legislation to bury the money in.
At a Billion Bucks a Head, all of Congress could be bought off for $535 Billion. That’s less money that will be flushed down the toilet in the current iteration of this financial services rescue bill. It’s a good investment!
Just ONCE I’d like to see photographs of a community “revitalized” with taxpayer money. Billions have been siphoned INTO these “neighborhoods” (or at least into the pockets of the “connected”) for “revitalization” but it always seems to disappear and the communities remain the same human toilets. As long as Jesse, Al and their ilk get theirs, who cares, right? Gimme, gimme, gimme.
Give da bruthas some love…show ‘em da money!
By all means-facilitate lending to people who can not and will not pay it back on property that continues to decline in value. That is a Barney Frank specialty. The House Fairy and the little Fairy at Treasury, Tim Geitner, are determined to Destroy All Non Banking financial institutions. This gives them one more hammer.
President Bush and his Treasury Secretary Henry Paulson did open this can of worms and thus did give them cover. I do not know why John McCain is so suddenly a fiscal hawk–he flew into DC to vote for the first bailout-TV cameras following of course.
Fools and traitors all. They have really given Treasury the power to raise revenue without the authority/vote of the House as mandated by the Constitution-thus the Treason.
Cowards serve no useful purpose.
(Fisting kits included)
Same thing in Africa. The money always goes to the corrupt government officials, and nothing to the people. But we keep doing it.
Just as I refuse to use any auto company, union or bank that has felt MY $ is theirs to take. I will support no black biz that takes this $.
Call me raaaaaaaaaaaacist.
I just read on Drudge they want to INCREASE the debt ceiling 1.8 Trillion Dollars… And Pelosi plans on putting it in with the Defense Spending Legislation! Are these people just STUPID? We do not hae 1.8 TRILLION dollars, where is it going to come from? What the Hell is going on in DC?
Time for a REAL TEA PARTY, held in every Represenatives OFFICE,HOME whatever it takes.
Reparations – this is just the beginning.
The whole congress is like one big can of shuck and jive.
I didn’t know Bawney’s Fwank had gathered that much money from his enterprises to give away.
Don’t you know how much it cost to maintain New Amsterdam
AzN, good point about McCain – that stunt he pulled was perhaps the lowest point of his sham of a campaign. This is how he truly operates, and I hope he is GONE in 2010! We can *thank* him and all the other weasels for the sorry mess we’re in today, as they not only didn’t guard the gate, they held it open for the Trojan horse to roll right in.
Flyoverman:
They can sleep at night because they know, from much experience, that nobody will do anything about it.
They know that they are safe and sound.
They know that there is no longer any person in this nation with the “legal standing” to do anything at all to them.
They know that nearly every law-enforcing entity, lawyer, judge, cop, marshall, etc., in this country that has sworn to uphold the constitution is either “without standing” or on their Party Loyalist side or toothless, or just paid off.
They know that, even if the Repubs were in complete control of Congress, in line with many of our fantasies for 2010, that, like last time and the time before that, the Republicans won’t do anything at all to put these scum behind bars.
They know that we won’t come for them, ever. They are safe, and they know it.
Not completely. They fear Sarah.
Let’s be clear about this. Barney profits from this deal. The black gangsters get what they want and some of it gets back to Barney.
There is only one way to fix government. TAKE THE MONEY OUT OF IT FOR ELECTED OFFICIALS.
1. Term limits. This would kill a lot of this crap.
2. Reduce their annual salaries to the average income of the state they represent. It eliminates those in it strictly for the money.
3. Make it illegal to receive any sort of profits from any groups (lobbyist, unions, donors, etc) while they hold office and up to three years after they are out.
Maybe I’m old fashioned and don’t understand modern financial models but the idea of lending somebody to people already underwater in debt and with no job seems absolutely insane. But then, I don’t have a degree from an Ivy League school so what would I know?
Black Caucus:
to big to FAIL
Term limits are illegal per a 1995 Supreme Court case. It was ruled unconstitutional by the court to institute term limits on Reps and Senators.
Agreed, but at some point in their sorid existence you might think that their conscience would confront them.
Obviously not. It tells you what they have in their soul, if they even acknowledge its presence.
Errah, TARP = Democratic Blank Check Slush Fund!
The Supreme Court says that requires an Amendment to the Constitution. Good luck with that.
Just the opposite of what is needed. Pay reps a starting salary of 500k per year and senators 700k, to be reduced by 50k per year of service. Eliminate all retirement, health care and any other perks.
Incentives matter.
Absolutely. With high pay that would make even more sense.
You mean the Stimulus Package and the TARP package and the rest had language in it which specifically banned Blacks from receiving any funding?
Really?
That is what the CBC is claiming isn’t it? Make them prove it – no proof – no money.
This is, in fact Reparations.
And isn’t Congressional Black Caucus a racist organization?
i just read on drudge that the average salary of fed workers is 71K, meaning retirement after 20 is 35k, and after 30 is 53k. MAX ss after 45 years work is 40k, while average pay of americans is under 40k. our gubmint just gave it’s employees a 2% raise in a year of deflation. NOW YOU KNOW WHY WE ARE RACKING UP DEFICITS OF 2 TRILLION PER YEAR.
Have you ever stopped and looked at these corrupt clowns. There are over 200 millionaires in this group of crooks. They are only interested in money and power. We are to blame for this as we continue to re-elect them to office. Throw them all out of office!
Disgusting isn’t it? There use to be a time nobody wanted to work for the gov because the pay was abysmal and you faired better in the private sector financially.
Yes, and that is the way it should always be. Then some clown came up with the great idea of unionizing public employees.
Great for government workers. Really, really rotten for taxpayers and the well being of the Republic.
In the real world unions are up against hard headed businesspeople trying to compete with other businesses. Government unions just have to rip off the taxpayers whenever the taxpayers are distracted. Our elected representatives certainly won’t look out for our money. They are with the govenment workers.
Talk about henhouses and foxes ….
Totally agree! NJ is a perfect example of union corruption and ripoff of tax payer. Christie has gone in and looked at the budget and had no idea it was as bad as it is. I have said NJ needs to declare bankruptcy and renegotiate these contracts and work on getting rid of these unions!
What really galls me is the part where it claims federal employess make 26% less than their counterparts in the private sector. BS. I have heard this countless times over the years from various public employees, especially from college professors , but almost never see them giving up their salaries and benefits packages for the imagined easy riches of the private sector. Are we supposed to believe it is their dedication to public service that keeps them in a state of near poverty while they selflessly serve the people?
I wonder how much of this money the poor blacks will get? I know of course-zero, I just like throwing their stupidity back in their faces.
Yep, I can hear the tune “Shake Down Street” being hummed by the CBC
An unfortunate phrase.
I work for government in California. I always check “Native American” when the form asked for my “race”. The State has no right whatsoever to ask for “proof” of racial status, no I see no need to provide it. I am one-eighth Indian so I “qualify” for status. When I show up with my light brown hair and green eyes they just have to deal with it. No questions are allowed.
Errah
I think I soiled myself!
to provide low-interest loans to unemployed homeowners in danger of foreclosure.
Whiskey!
Tango!
Foxtrot!
Loans to the unemployed? Are you friggin’ kidding me!?!
What I think will happen with this is that it will be like the “reverse mortgage” scams out there: the mortgage will be transferred over to the note-holder, period. In this case, The Gubmint; The Grifters. You won’t be making payments through equity that had been built up in your house (there isn’t any thanks to the economy). But you WILL lose your home. And there’s no way out of it – once you sign, you can’t take it back.
Miss a payment, and you are back out on the street. You just got to delay the inevitable for awhile.
Just more dirt on our graves. What a sad joke of a government we have.
Reparations in disguise.
I wonder if Bawny’s boyfriend pays any taxes on all that weed he’s probly sellin’ yo. I heard he was the hooks for everybody at the capital.
This is nothing
I expect the Haiti slush fund may dwarf all of this many times over
First will be the “Black Ribbon” panel to study the problem
Of course millions upon millions will be needed
And what will the result be
More corruption and squallor
Just like Chicago, Detroit, Cleveland, Baltimore, Oakland, South Central etc….
But the people in Appalachia can rot