Republicans have to learn to stop fighting by the Marquis of Queensbury rules, while Democrats, bite, kick, pull hair, scratch and hit below the belt.  Yes, Christ told us to turn the other cheek, but he also overturned tables, formed a whip out of cords and drove the money changers from the temple.  In other words, sometimes you have the hit the bully hard between the eyes before he learns to stop being a bully.

So if the Republicans regain control of Congress in November, they should open the new Congress in January with detailed hearings on what happened to Fannie Mae and Freddie Mac and don’t pull any punches.  By that I mean if they need to put Andrew Cuomo in the witness chair, even if he is the governor of New York, which he probably will be, then they should do so.  It’s time to stop playing patty-cake.

For all the hoopla of the Dodd-Frank Act, Fannie Mae and Freddie Mac were left out of the new regulations.  Oh, we’ll get to those later.  Okay, let’s get to them with the Republicans in charge.  Let’s expose how it was our government that got us into the housing mess and let’s do this before the Democrats re-write history and paper over their culpability in the greatest financial crisis since the Great Depression.  It’s time to put the big lie to “it’s all Bush’s fault and Republican policies.”

The papering over has already started by none other than Franklin Raines the former head of Fannie Mae who received bonuses of over $90 million while at the helm of Fannie Mae and was also charged with cooking the books that helped him receive those bonuses.  He reached a settlement with the SEC and gave back about $1.8 million from the profits in the sale of Fannie Mae stock and gave up $5.3 million in future benefits related to his pension.  But he essentially kept the rest, what the Wall Street Journal called a “paltry settlement.” 

Mr. Raines claims the demise of Fannie Mae and Freddie Mac, to which taxpayers have already coughed up $145 billion, was due to bad credit decisions made after he left the firm.  To put it in his own words:

 “The Journal had been warning for years that the on-balance sheet portfolios of Fannie and Freddie would lead to their demise. Mr. Carney suggests that excessive leverage was the culprit. Unfortunately, neither of these were involved. Nope. Just bad credit judgments. Decisions made, by the way, while operating under close regulatory scrutiny.”

According to the Wall Street Journal “What he doesn’t say is that Fan and Fred had a political and legal mandate to support low-income housing.”  To meet this mandate which had increasing goals each year, Fannie and Freddie had to cast a wider net to find these borrowers and the wider they cast the net the lower their standards had to be.  Thus more creative types of mortgages were created to lower the bar such as, interest only loans.  This scheme would continue to work as long as housing prices kept rising but that could not go on forever.  When the music stopped a lot of people were left standing without chairs and we all lost.  People’s credit ratings were destroyed, mortgage securities were worth far less than face value, people walked away from houses, and taxpayers were forced to pick up another “too big to fail” enterprise.  By the way, where in the Constitution does it authorize the federal government to get involved in helping people buy houses?

The secret veil put in place by the main stream media has been lifted.  With the Internet and the bloggers and cable television and talk radio, the main stream media can no longer keep information that does not comport with their agenda hidden from the American people.  The American people are energized and informed but that may not last long after the election, if we don’t continue to engage them.  Uncovering the true “swamp” that is our federal government and draining it should begin by letting the sun shine in.  So let’s do away with the good ol’ boy politics of not rocking the boat when you gain control so that they won’t rock the boat when they get it back.  If we don’t have a new class of non-incumbents who are willing to go to Washington and clean it up, really clean it up, we need to get rid of them and put new people in their place.  If that means replacing Republicans with better Republicans or Democrat incumbents with better Democrats, so be it.  We have to end the process of only being able to choose between two pathetic life time politicians who have never lived in the real world.

Over the past eleven months, have you ever gotten a feeling that you are watching a magician, rather than a president run our country?  As any practitioner of the art of the illusionist will tell you, one of the key things is to keep the audience distracted.  Have them watch the left hand, while the right is slipping the coin into the pocket.  The Obama Administration is about to unleash their greatest trick yet, trying Khalid Sheik Mohammed in civil court in New York for the 9/11 attack on America.  Why?

The Greatest Show On Earth

The trial will become an absolute three ring circus, with all the world watching closely.  The liberal pundits say, “this is our chance to show the world our justice system.  We can demonstrate how civilized we are, and show the Muslim world how fair we are.”  Really?

Remember to the footage in the Muslim world immediately following the collapse of the World Trade Center towers.  They were dancing in the street, laughing and singing, shouting praise to Allah.  What do you think the reaction will be if Khalid Sheik Mohammed, jumps up in court and screams out, “Kill the infidels! This is a fraud meant to disguise these devil’s tricks!”  Do we let him ramble with a global audience?  Do we have the bailiffs wrestle him to the ground?  Do we put him in restraints for the rest of the trial?  Who exactly is going to show the world what?

We Have No Secrets

In a civilian trial there is a process called discovery, where the defense is told everything the prosecution plans on bringing to court, including witnesses, so that the defense has a chance to prepare their rebuttal case.  How much of the CIA’s methods and contacts are we prepared to reveal to the world and to Khalid Sheik Mohammed’s allies?  Or, how much are we not going to use in order to protect that information and at the same time increase the chances that he will be acquitted?

Can Anybody Say O.J.?

Do you remember the O.J. Simpson trial?  A slam-dunk if ever there was one.  There was blood evidence, DNA evidence, means, motive, opportunity, it couldn’t get any easier.  But what happened?  Judge Lance Ito, lost control of his court room in the klieg lights of national television.  One of O.J.’s attorneys or advisors told O.J. to stop taking his arthritis medication  so his hands would swell and then the famous glove trick, abra cadabra, “If the glove doesn’t fit, you must acquit.”  What happened after that trial?  Dancing in the streets of the black community.

The Jury Pool

Are Muslims going to be excluded from the jury pool?  If so, on what grounds and would a judge allow it?  In the O.J. case we had what was called jury nullification, where a jury handed up a verdict not based on the evidence presented, but based on a social determination.  O.J. was a symbol for all black men put on trial and all past injustices.  He was a sports hero to millions and he wasn’t going down, no matter what.  What if a someone with strong beliefs sees disrupting the outcome of the trial as the new jihad?  Don’t use suicide bombers in New York, that’s so Middle East, let’s kill them softly by getting Khalid Sheik Mohammed acquitted or a give them a hung jury.  What better way to humiliate the Great Satan.  It will be like David and Goliath all over again.

The Real Trial

Or is it really the Bush Administration that Obama wants to put on trial?  The Obama administration’s popularity is sinking link a stone.  The stimulus package was a bust.  Cap and Trade is a disaster.  Health care a debacle.  Tea Party’s are breaking out all over.  The Democrats got trounced in Virginia and New Jersey, and even New York’s 23rd is still alive as recounts have dramatically closed the gap. A show trial of the Bush Administration is just what the Obama Administration needs to keep the focus off what they are really doing.

This is a tragedy and a travesty and there should be no end to the shame heaped upon this administration if they follow through on this.

It seems like a bad dream.  The man who is spending like there is no tomorrow, lecturing us on how we are spending too much money.

President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

Is this a joke?  I keep waiting for President Obama to burst out laughing and say, “April Fool’s” but it’s well past April.

Two weeks ago Obama announced his budget and proposed $17 billion in spending cuts.  Let’s be generous and say he can deliver on that.  Big deal!  Twenty-five years ago, in 1984 President Reagan received a report from the Grace Commission, whom he charged with the task of finding areas of the federal government to cut costs.  The Grace Commission, led by Peter Grace, came up with $424 billion in savings in three years and $1.9 trillion in savings by 2000.  Let those numbers sink in for a moment.  In 1984, with a far smaller federal government, the Grace Commission was able find twenty-five TIMES as much savings as President Obama can find in his behemoth budget.  Unfortunately, the Democrats controlled Congress and therefore the purse strings, and scoffed at most of what the Grace Commission proposed.  Why? Less government means less power, and the statists are all about power.

Let me make a modest suggestion.  President Obama, dust off the Grace Commission Report and give it a read.  You might find some gems in there that are worth more than a paltry $17 billion in savings.

It couldn’t be more clear that the Obama administration should immediately begin the conversion from our convoluted tax code, to a flat tax that could be filed on a post card.  How can I make such a claim?

Well, Charlie Rangel, Chairman of the House Ways and Means Committee, the committee that writes the tax laws, seems to have forgotten to pay his income taxes on a villa that he owns in the Dominican Republic.  More recently we learn that Timothy Geithner, Obama’s nominee to be Treasury Secretary, didn’t pay Social Security and Medicare taxes for several years.  The Treasury Department includes the Internal Revenue Service which enforces the tax laws that Mr. Rangel’s Committee writes and collects the money.

So if the tax laws are so complicated that the individual in charge of writing the tax laws cannot understand them enough to follow them, and they are so complicated that the individual in charge of enforcing those tax laws, doesn’t understand what he is charged with enforcing, don’t you think it’s time we simplified the tax laws?  If these highly educated, very experienced, extremely intelligent people cannot comply with the tax code, what hope does the average Joe have?  Perhaps that is why it is estimated we spend $200 billion per year in tax compliance.  Couldn’t that money be more productively be employed elsewhere in the economy?

What do you think?