News briefs are a collection of interesting news stories…
This edition is all about Obama’s bad week though Americans who rely on the mainstream media missed most of the implications.
Brief 1: Obama and his employees Tim Geithner (Treasury Secretary) and Ed Whitacre (Government Motors CEO) were all a tizzy when GM paid back part of their TARP loans…with interest. GM even made a commercial to announce the success of the program. This news of such a government success couldn’t come at a better time for Obama as he looks to take over Wall Street. Unfortunately Sen. Chuck Grassley and some others (including the Inspector General for the TARP program) read the fine print on the alleged payback…with interest. Grassley stated;
“The bottom line seems to be that the TARP loans were ‘repaid’ with other TARP funds in a Treasury escrow account. The TARP loans were not repaid from money GM is earning selling cars, as GM and the administration have claimed in their speeches, press releases and television commercials.”
Brief 2: Obama promised recently to fix immigration through comprehensive legislation. You may remember that under George W. Bush similar “reform” was almost passed with support from such notables as John McCain. Unfortunately for them the American people voiced their displeasure and the bill died. Like bad slasher film heavies this legislation won’t die and keeps coming back with “bipartisan” support via RINO Lindsay Grahamnesty. Again the good news got bad in a hurry. Those scoundrels in Arizona decided to actually enforce United States law and passed a law allowing local authorities to investigate, arrest, and prosecute illegal aliens. Thousands of illegal aliens protested the new law (surprise), but a large majority of residents support the bill. Obama will no doubt fight for illegal alien rights.
Brief 3: As President Obama vilified Wall Street and Goldman Sachs in particular as he tries to gain support for his take over of the investment community. The timing couldn’t have been a better back drop to push the White House agenda with RINO Sen. Snowe looking to back Obama’s plan. The timing seemed too good as suggested by Rep. Darrell Issa and the Inspector General of the SEC said that he will likely investigate the timing of the prosecution. The use of the word “likely” seems a little weak for my taste. Come on man do your job and investigate. While you are at it, investigate how Goldman Sachs was deemed “too big to fail” while its competitors were allowed to fail. While you are at it investigate how many former Goldman Sachs employees work for Bush/Obama when these decisions were made. Maybe Special Prosecutor Patrick Fitzgerald isn’t busy and could help.
Brief 4: Joe Biden is his vice president…every day must be a bad day.