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Archive for the ‘Barack Hussein Obama’ Category

What did Presidents Hoover, Truman and Eisenhower have in common?  This is something that should be passed around.

Back during the Great Depression, Herbert Hoover ordered the Deportation of ALL illegal aliens in order to make jobs available to American citizens that desperately needed work.

Harry Truman deported over two million illegal aliens afeter WWII to create jobs for returning veterans.

In 1954 Dwight Eisenhower deported 13 million Mexicans. The Program was called Operation Wetback. It was one so WWII and  Korean veterans would have a better chance at jobs.It took two years, but they deported them all!

Now, if they could deport the illegal aliens back then,  they could sure do it today. If you have doubts about the veracity of of this information, enter Operation Wetback into your favorite search engine and confirm it for yourself.

Why you might ask can’t do this today? Actually the  answer is quite simple. Hoover, Truman and Eisenhower were men of honor, not untrustworthy politicians just out looking for votes.

I hope you all have paid your income taxes – 12-20 million illegal aliens are depending on you!

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WASHINGTON — The Obama administration has begun serious talks about how it can change compensation practices across the financial-services industry, including at companies that did not receive federal bailout money, according to people familiar with the matter.

The initiative, which is in its early stages, is part of an ambitious and likely controversial effort to broadly address the way financial companies pay employees and executives, including an attempt to more closely align pay with long-term performance.

Administration and regulatory officials are looking at various options, including using the Federal Reserve’s supervisory powers, the power of the Securities and Exchange Commission and moral suasion. Officials are also looking at what could be done legislatively.

Among ideas being discussed are Fed rules that would curb banks’ ability to pay employees in a way that would threaten the “safety and soundness” of the bank — such as paying loan officers for the volume of business they do, not the quality. The administration is also discussing issuing “best practices” to guide firms in structuring pay.

At the same time, House Financial Services Committee Chairman Barney Frank (D., Mass.) is working on legislation that could strengthen the government’s ability both to monitor compensation and to curb incentives that threaten a company’s viability or pose a systemic risk to the economy.

It is unclear how such a bill would fit with what the Fed and others are already considering. But any legislation passed would make it harder for policy makers to dial back limits once the financial crisis subsides.

Any new compensation rules would likely be rolled out alongside a broader revamp of financial-markets regulation that the Treasury is pushing. The compensation effort is the latest example of the government’s increasing focus on aspects of the financial sector that once were untouched.

Regulators have long had the power to sanction a bank for excessive pay structures, but have rarely used it. The Office of the Comptroller of the Currency last year quietly pressed an unidentified large bank to make changes “pertaining to compensation incentives for bank personnel responsible for assigning risk ratings,” a spokesman said. Since 2007, it has privately directed 15 banks to change their executive compensation practices.

Government officials said their effort, which is just beginning, isn’t aimed at setting pay or establishing detailed rules. “This is not going to be about capping compensation or micro-management,” said an administration official. “It will be about understanding what is the best way to align compensation with sound risk management and long-term value creation.”

Despite the banking industry’s weakened state, it would likely try to push back against curbs on how financial firms can compensate people. Bank executives have complained to federal officials that strict rules could prompt some of their best employees to move to parts of the financial industry that aren’t regulated, such as hedge funds, private-equity firms and foreign banks. They’ve also argued that paying substantial bonuses is integral to how the industry works.

cash flow bank pay overhaul grapg“Our companies have already enhanced, strengthened and expanded the number of compensation programs that are tied to long-term incentives,” said Scott Talbott, a senior vice president at the Financial Services Roundtable, a trade group.

Edward Yingling, chief executive of the American Bankers Association, said banks might be able to accept new rules “as long as they are general in nature and could be enforced on a case-by-case basis. What would never work is detailed regulation of compensation.”

President Barack Obama and Treasury Secretary Timothy Geithner have both blamed the way banks structured compensation plans for contributing to the financial mess. In February, Mr. Obama said executive pay helped lead to a “reckless culture and a quarter-by-quarter mentality that in turn helped to wreak havoc in our financial system.”

Mr. Geithner recently instructed his staff to begin discussions with the Fed, the SEC and others about ways to address compensation practices.

During a recent congressional hearing, Chairman Ben Bernanke said the Fed was working on rules that will “ask or tell banks to structure their compensation, not just at the very top level but down much further, in a way that is consistent with safety and soundness — which means that payments, bonuses and so on should be tied to performance and should not induce excessive risk.”

In an indication of how broad the effort may become, Federal Deposit Insurance Corp. Chairman Sheila Bair said regulators need to examine compensation practices in the mortgage industry, suggesting new limits could stretch beyond banks.

“We need to make sure that incentives are aligned among all parties by making compensation contingent on the long-run performance of the underlying loans,” Ms. Bair said on Tuesday.

The discussions follow a narrower effort by the administration to clip pay at firms that get federal aid. Earlier this year, it issued guidelines limiting salaries for top executives at firms that received funds under the Troubled Asset Relief Program.

Congress chimed in with even tougher rules curbing bonuses for top earners at the same firms, among other things. One rule bars firms receiving federal funds from paying top earners bonuses that equal more than a third of their total compensation.

The administration is still wrestling with how to marry those two efforts, which in combination are more punitive than officials intended. The Treasury is expected to issue new rules sometime in the next few weeks.

Just plain insanity.

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From the Telegraph UK by Toby Harnden

What was Wanda Sykes thinking? Perhaps more to the point, what was President Barack Obama thinking when he laughed and smiled as the comedienne wished Rush Limbaugh dead?

Although the Left is reporting her White House Correspondents’ Dinner speech as “taking shots” at Limbaugh and mocking everyone, that’s a gross misrepresentation of what turned into a hateful and disgusting diatribe.

I was at the dinner and I began by laughing at Sykes’s gentle teases about the press loving Obama so much they never capture him on film smoking but often seem to get him on the beach.

It was amusing when she quipped that Obama trying so hard to be all things to all men that the next thing is he’ll be seen mowing the White House lawn.

But the speech took a very ugly turn when she laid into Limbaugh.

This is what she said: “Rush Limbaugh said he hopes this administration fails, so you’re saying, ‘I hope America fails’, you’re, like, ‘I dont care about people losing their homes, their jobs, our soldiers in Iraq’. He just wants the country to fail. To me, that’s treason.

“He’s not saying anything differently than what Osama bin Laden is saying. You know, you might want to look into this, sir, because I think Rush Limbaugh was the 20th hijacker. But he was just so strung out on OxyContin he missed his flight.”

She then concluded: “Rush Limbaugh, I hope the country fails, I hope his kidneys fail, how about that? He needs a good waterboarding, that’s what he needs.” Obama seemed to think this bit was pretty hilarious, grinning and chuckling and turning to share the “joke” with the person sitting on his right.

There’s not much room for differing interpretations of what Sykes said. She called Limbaugh a terrorist and a traitor, suggested that he be tortured and wished him dead.

What was his crime? Hoping that Obama’s policies – which he views as socialist – will fail.

That’s way, way beyond reasoned debate or comedy and Obama’s reaction to it was astonishing.

Imagine if a comedian “joked” that Obama was a terrorist who was guilty of treason and should be tortured and allowed to die. There would justifiably be an outcry.

But when the “joke” comes from a liberal, Obama-supporting comedienne and the target is a right-winger then the likes of Hilary Rosen and Donna Brazile are on CNN saying it’s just comedy and Limbaugh is “fair game”.

And Obama laughing when someone wishes Limbaugh dead? Hard to take from the man who promised a new era of civility and elevated debate in Washington.

Watch the video. What do you think?

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