Where Are Your Manners Barney?

He’s obnoxious and uncouth, not to mention totally disgusting.

Watch Barney Frank Fart on Live TV

Since our economy is going to hell in a handbasket, why not distract yourself from the economic doom that is now upon us with this clip of Rep. Barney Frank letting out what sounded like a giant fart tonight while chatting with Rachel Maddow on MSNBC? As you’ll see, his hips most definitely don’t lie.

See also:
Did Rep. Frank Toot On Air?
Did Rep. Barney Frank fart on live TV?
Did Barney Frank Play ‘Pull My Finger’ On MSNBC Last Night?
Did Barney Frank Pass Gas Live on MSNBC? You Decide
Rep. Barney Frank Farts on Live TV
Barney Frank Sounding More Gaseous Than Usual on Maddow Show
VIDEO: Barney Frank farting on live TV is quite amusing
Here’s Barney Frank Farting On Live TV Because Farts Are Always Funny
WATCH BARNEY FRANK FART

Man oh man, ol’ Barney just lets it rip, doesn’t even try and sneak it.

/and then he just prattles on like nothing happens, doesn’t even have the class to say excuse me

Double The Record Bailout, Double The Criminality

Franklin Raines, Barney Frank, Maxine Waters, and all the rest of these thieving Democrat criminals should be made to forfeit of every last penny’s worth of their personal property and then be thrown in Federal prison for the rest of their lives. They’ve done immeasurable damage to the U.S. economy, the U.S. taxpayers, and everyone who own a house or a retirement account. And it’s not over yet and it’s only going to get worse.

Fannie and Freddie support may reach $363 billion by 2013

Mortgage finance giants Fannie Mae and Freddie Mac could need as much as $363 billion in government payments by 2013, regulators said Thursday.

The Treasury Department has pumped $148 billion into the agencies since the government took them over in 2008.

The new projections by the Federal Housing Finance Agency, based on a series of assumptions about home prices, indicate that Fannie and Freddie will require an additional $73 billion to $215 billion before 2013.

Read the projections:

Projections of the Enterprises’ Financial Performance

See also:

Fannie, Freddie May Draw $363 Billion, FHFA Says
Fannie/Freddie Bailout Could Total $363 Billion
Fannie, Freddie May Need $215 Billion More in Aid
Fannie & Freddie ‘could cost US $363bn’
Fannie Mae, Freddie Mac bailouts could hit $363 billion, report says
Fannie, Freddie bailout could hit $363 billion
US taxpayers warned Fannie Mae and Freddie Mac may need $363bn bailouts
Fannie Mae and Freddie Mac deep in the hole
Fannie Mae, Freddie Mac Bailout Costs Could Soar
Fannie and Freddie May Need Infusion
Fannie, Freddie Rise Despite Giant Potential Tab With U.S Treasury

Yes folks, the Fannie and Freddie bailout is going to end up costing more than the AIG and Auto bailouts combined, by an order of magnitude, and the U.S. taxpayers are going to get stuck with the bill.

/why do the known criminals who obviously caused this 1/3 of a trillion dollar mess remain unpunished?

ACORN Takes A Shot At The Messengers

Who said there’s no such thing as bad publicity? The discovery process alone ought to be quite revealing. One thing’s for sure the money and pro bono lawyers will pour in to defend this lawsuit.

ACORN sues filmmakers

ACORN filed suit Wednesday in Baltimore, Maryland, against two filmmakers who secretly recorded videos embarrassing to the agency, claiming the pair violated state law by recording their conversations without permission of the employees involved.

The lawsuit seeks an injunction preventing the further distribution of the videos.

The recordings represented “clear violations of Maryland law that were intended to inflict maximum damage to the reputation of ACORN,” the community organizer’s attorney, Arthur Schwartz, said. “Unfortunately, they succeeded.”

Defendants James O’Keefe and Hannah Giles, conservative activists posing as a pimp and a prostitute seeking advice on setting up a brothel with underage girls from El Salvador, recorded the videos in Baltimore and three other cities.

Breitbart.com, registered to Washington Times conservative commentator Andrew Breitbart, is a co-defendant in the lawsuit. Contacted by CNN, Breitbart had no comment on the suit. O’Keefe and Giles did not respond to requests for comment.

See also:
ACORN Sues O’Keefe, Giles and Breitbart.com
ACORN Sues Makers of Hidden Camera Videos
ACORN Vows ‘Serious’ Internal Probe, Sues Filmmakers
ACORN sues hidden-camera filmmakers
ACORN sues Bretibart, ‘pimp, hooker’ duo
ACORN sues undercover filmmakers

Meanwhile, the ground continues to shift underneath ACORN’s foundation as the fallout from “Hookergate” continues to take its toll.

IRS severs ties with ACORN over scandal

The IRS says it is severing ties with ACORN, the community activist group involved in a scandal after employees were caught on video giving advice to a couple posing as a prostitute and pimp.

The Internal Revenue Service said Wednesday it would no longer include ACORN in its volunteer tax assistance program. The program offered free tax advice to about 3 million low- and moderate-income tax filers this spring.

The IRS said ACORN, which is short for the Association of Community Organizations for Reform Now, provided help on about 25,000 returns.

The House and Senate voted earlier this month to sever federal funding to ACORN. And the Census Bureau severed its ties with the group for the 2010 national head-count.

Liberal Dem blasts ACORN

A leading liberal Democrat in the House blasted the embattled community organizing group ACORN Wednesday and said he is urging the White House to withhold any federal funding for the group.

“I am very disappointed in the actions that were taken by members of ACORN,” Massachusetts Rep. Barney Frank, Chairman of the House Financial Services Committee, said in a statement Wednesday, “and I do not believe that ACORN’s response has been adequate for an organization that has received public funding.”

Frank also said in the statement that he is urging the Obama administration to withhold any additional funding for ACORN “at least until there is very firm evidence that the abuses of which ACORN members have been guilty have not only ceased, but that procedures are in place to prevent them from happening again.”

See also:
IRS, ACORN Sever Ties Over Scandal
IRS, ACORN sever ties over scandal
IRS severs ties to ACORN in wake of latest scandal
I.R.S. Severs Acorn Ties; Group Sues Over Video
Barney Frank flees ACORN
Frank turns against ACORN
Barney Frank, D-Mass: Time to de-fund ACORN
Barney Frank on Acorn
It Was Fraud, Fraud, Fraud, ‘Til Congress Took The Money Away
ACORN Roasting On A Simmering Fire

And ACORN wants even more publicity by filing a lawsuit? Bring it on! Then again, I’m not the one being sued.

/anyway, I know which side I’m rooting for, I hope they get a jury trial and it’s televised

Smell The Arrogance

Can you just imagine what would have happened if George Bush had said this?

Obama Tells Economic Critics to ‘Get Out of the Way’

A fired up President Obama said Thursday that he wants his critics to just “get out of the way” so his administration can clean up the economic “mess” that Republicans left for him.

Obama spoke Thursday night at a rally in Virginia for state Sen. Creigh Deeds, the Democratic candidate for governor.

He used the bulk of his pep talk to dress down critics who say his economic stimulus is not working and who complain about his administration’s spending. Obama noted that he was handed a deficit topping $1 trillion when he walked into office, and urged the “naysayers” to step aside.

“We’ve got some work to do. I don’t mind, by the way, being responsible. I expect to be held responsible for these issues because I’m the president,” Obama said. “But I don’t want the folks that created the mess — I don’t want the folks who created the mess to do a lot of talking. I want them just to get out of the way so we can clean up the mess.

“I don’t mind cleaning up after them, but don’t do a lot of talking,” Obama said.

See also:
Obama Rallies Deeds Supporters Amidst Tumbling Poll Numbers
At Deeds Rally, Obama Knocks GOP Critics
In Virginia, Obama says US needs pragmatic leaders
Barack Obama wants you to get out of the way
Get out of the way Obama orders

What a pompous, self-righteous, sanctimonious, vainglorious little prick. Look out Moneychangers! Here comes Lord Obama from on high to cleanse the temple! Shut up you evil Republicans, the financial crisis was all your fault and now only Obamanomics can repair all the damage you’ve done and save the country. We won!

Nevermind the extensive role of Barney Frank, Chris Dodd, and the rest of the Democrats had in creating the global financial meltdown, by pushing relaxed lending standards through Fannie Mae and Freddie Mac, covering up problems at Fannie Mae and Freddie Mac, and resisting Rebublican calls for regulation.

The “stimulus” is working, really? Hardly any of it has even been spent! The economy is starting to recover on it’s own, in spite of the “stimulus”. In fact, once all the back loaded “stimulus” does hit the economy, it’ll do nothing except crowd out private sector investment, retard GDP growth, and spur inflation. Obama inherited a huge deficit? Sure, and then he immediately proceeded to triple it in six months. The markets don’t like it and wonder aloud, who the [expletive deleted] is going to end up paying for all this out of control Obama deficit spending?

Frankly, it’s exceedingly obvious that global capital markets are frightened by Obama economic policies and what he might possibly do next. Not one Obama economic policy introduced so far has been business friendly (you know, the people who actually create jobs) or pro economic growth.

If anyone should shut up and get out of the way it’s Obama. He has no earthly idea what he’s doing and his policies are an obvious drag on the economy. If he would just do nothing, the markets would be trading much higher than they are now and the economy would already be recovering at a much faster pace.

/you know, half of America didn’t vote for this hopey changey, sweet smelling unicorn farts bull[expletive deleted]

The Truth Hurts

The Role of Government Affordable Housing Policy in Creating the Global Financial Crisis of 2008

26 pages, read the whole thing, signed, sealed, and professionally footnoted.

/just because it was put together by Republican staff members doesn’t mean every damn word of it isn’t true

Your Government, Totally Out Of Control

Barney Frank: Let’s spend TARP profits before taxpayers can get them

When President Obama announced on June 9 that some financial institutions would be allowed to repay Troubled Asset Relief Program dollars, he said the massively expensive TARP bailout had made money for the federal government. “It is worth noting that in the first round of repayments from these [TARP recipients], the government has actually turned a profit,” the president said. Indeed, TARP supporters have long held out the hope that the program might be profitable.

But now Rep. Barney Frank, the chairman of the House Financial Services Committee, has come up with a proposal to spend any TARP profits before they can be returned to the taxpayers. Last Friday, Frank introduced the “TARP for Main Street Act of 2009,” a bill that would take profits from the program and immediately redirect them toward housing proposals favored by Frank and some fellow Democrats.

In exchange for receiving TARP money, financial institutions were required to hand over shares of preferred stock that paid a dividend for the government. In theory, if a financial institution paid the dividend faithfully, and then repaid the TARP money, then the government would turn a profit. Last month, the General Accountability Office (GAO) reported that, through June 12, 2009, the government had received $6.2 billion in dividend payments. The original TARP legislation required that money made from the program “shall be paid into the general fund of the Treasury for reduction of the public debt.”

Frank, however, wants to spend the money before it can be used to pay down anything. First, the “TARP for Main Street” proposal would take $1 billion “from dividends paid by financial institutions that have received financial assistance provided under…the Emergency Economic Stabilization Act” and apply it to a trust fund that Frank has long wanted to create for low-income rental housing. (The measure, unfunded, was part of last year’s bailout of Fannie Mae and Freddie Mac.) Next, Frank would take $1.5 billion from TARP dividends for a so-called “neighborhood stabilization” fund. Republican critics have charged that both measures might allow federal dollars to be distributed to activist groups like the Association of Community Organizers for Reform Now, or ACORN.

The “TARP for Main Street” bill would also spend $2 billion, apparently from remaining TARP funds, to subsidize people who are delinquent on their mortgages, and another $2 billion to “stabilize multifamily properties that are in default or foreclosure.”

Congress’s Travel Tab Swells

Spending by lawmakers on taxpayer-financed trips abroad has risen sharply in recent years, a Wall Street Journal analysis of travel records shows, involving everything from war-zone visits to trips to exotic spots such as the Galápagos Islands.

The spending on overseas travel is up almost tenfold since 1995, and has nearly tripled since 2001, according to the Journal analysis of 60,000 travel records. Hundreds of lawmakers traveled overseas in 2008 at a cost of about $13 million. That’s a 50% jump since Democrats took control of Congress two years ago.

The cost of so-called congressional delegations, known among lawmakers as “codels,” has risen nearly 70% since 2005, when an influence-peddling scandal led to a ban on travel funded by lobbyists, according to the data.

Mortgage-Rescue Plan to Cover More Borrowers

The Obama administration is expanding the number of borrowers who can refinance home loans under its housing-rescue program, an acknowledgment that more needs to be done to help people who are upside down on their mortgages.

The administration said Wednesday that borrowers with mortgages worth up to 125% of their home’s value will now be eligible to refinance under its program, up from a 105% limit.

To be eligible, borrowers must be current on their mortgages and have loans owned or backed by government-controlled mortgage companies Fannie Mae and Freddie Mac.

/had enough Hope and Change yet?

This Had Better Work

My Plan for Bad Bank Assets

Today, we are announcing another critical piece of our plan to increase the flow of credit and expand liquidity. Our new Public-Private Investment Program will set up funds to provide a market for the legacy loans and securities that currently burden the financial system.

The Public-Private Investment Program will purchase real-estate related loans from banks and securities from the broader markets. Banks will have the ability to sell pools of loans to dedicated funds, and investors will compete to have the ability to participate in those funds and take advantage of the financing provided by the government.

The funds established under this program will have three essential design features. First, they will use government resources in the form of capital from the Treasury, and financing from the FDIC and Federal Reserve, to mobilize capital from private investors. Second, the Public-Private Investment Program will ensure that private-sector participants share the risks alongside the taxpayer, and that the taxpayer shares in the profits from these investments. These funds will be open to investors of all types, such as pension funds, so that a broad range of Americans can participate.

Third, private-sector purchasers will establish the value of the loans and securities purchased under the program, which will protect the government from overpaying for these assets.

The new Public-Private Investment Program will initially provide financing for $500 billion with the potential to expand up to $1 trillion over time, which is a substantial share of real-estate related assets originated before the recession that are now clogging our financial system. Over time, by providing a market for these assets that does not now exist, this program will help improve asset values, increase lending capacity by banks, and reduce uncertainty about the scale of losses on bank balance sheets. The ability to sell assets to this fund will make it easier for banks to raise private capital, which will accelerate their ability to replace the capital investments provided by the Treasury.

This program to address legacy loans and securities is part of an overall strategy to resolve the crisis as quickly and effectively as possible at least cost to the taxpayer. The Public-Private Investment Program is better for the taxpayer than having the government alone directly purchase the assets from banks that are still operating and assume a larger share of the losses. Our approach shares risk with the private sector, efficiently leverages taxpayer dollars, and deploys private-sector competition to determine market prices for currently illiquid assets. Simply hoping for banks to work these assets off over time risks prolonging the crisis in a repeat of the Japanese experience.

See also:
Geithner Banks on Private Cash
White House Defends Plan for Toxic Assets
Treasury’s toxic asset plan could cost $1 trillion
Treasury expected to unveil new entity to help buy toxic assets
A Plan To Purge Banks’ Toxic Assets
AIG fallout could trip up toxic-asset sales
Banker fury over tax ‘witch-hunt’
Pandit’s Memo to Citigroup Employees
Bank CEOs Push Back on Legislation That Would Tax Bonuses
Citigroup, Bank of America, JPMorgan criticize proposals to tax bonuses
Citi CEO says bonus tax could hurt financial firms
Citi’s Pandit warns of ‘setback’ if bonus tax passes
U.S. Department of the Treasury
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation

Gee, now they want the help of private equity? That might be a tough sell after last week’s shameful, sordid infantile tantrum, where everyone in the government from Obama to Barney Frank was hypocritically kicking “greedy” Wall Street executives in the groin and passing retroactive laws to take away money they’ve already legally earned. Why should they cooperate when Washington can turn on them on a whim and change the rules at the drop of a hat?

In any case, I hope the Public-Private Investment Program works. It’s a vital step on the path out of this recession.

/keep your fingers crossed and stay tuned