POLITICALPYRO CONTRIBUTORS

When the party of free lovin’ meth-mouth transvestites, five minute abortions, prekindergarten with condoms, and generally any American who tends to take it up the ass on a regular basis suddenly feigns “offense” to teenage pregnancy – I know I have fallen through the proverbial rabbit hole.

THE PYRO IS BACK!

It took me a few minutes to get through this piece. Its nicely put together and does not miss anything.

Here is the Link: Barack Obama: The Naked Emperor

CNSNews.com
Federal Government Was Culprit in Housing and Economic Crisis, Says Congressional Report
Wednesday, July 08, 2009
By Fred Lucas, Staff Writer

CLICK HERE TO SEE THE ACTUAL REPORT

Washington (CNSNews.com) – Fannie Mae and Freddie Mac were the chief culprits in the housing crisis because they encouraged people who could not afford payments to borrow money, according to a congressional report released Tuesday.

The claims in the report have long been advanced by conservatives, who argue that the Community Reinvestment Act and other federal programs fed the housing bubble that burst in 2007 and led to the economic downfall in 2008.

But the report explains in detail how Fannie and Freddie — government sponsored enterprises (GSE) that were not subject to the same oversight as other publicly traded firms — “privatized their profits but socialized their risks.”

“In the short run, this government intervention was successful in its stated goal – raising the national homeownership rate,” says the report, the result of an investigation launched last fall by Republican members of the House Oversight and Government Reform Committee.

“However, the ultimate effect was to create a mortgage tsunami that wrought devastation on the American people and economy,” says the report. “While government intervention was not the sole cause of the financial crisis, its role was significant and has received too little attention.”

The report talks about the Clinton administration’s National Homeownership Strategy, citing President Clinton’s directive to “lift America’s homeownership rate to an all-time high by the end of the century.”

The Clinton strategy further said that Freddie and Fannie should reduce down-payment requirements and, according to the report, “called for increased use of ‘flexible underwriting criteria,’ which it said could be achieved in concert with ‘liberalized affordable housing underwriting criteria.’”

“That is the perfect smoking gun that tells how Barney Frank [D-Mass.], the Clinton administration and others would do it in those days,” Rep. Darrell Issa (R-Calif.), the ranking member on the House Oversight and Government Affairs Committee, said Tuesday in a speech at the Heritage Foundation.

“The seeds of the meltdown began with the well-intentioned goal that everyone have a home even if they can’t afford it,” he said. “It led to one of the biggest ponzi schemes ever.”

Fannie Mae and Freddie Mac made 54 percent of the “subprime” mortgage loans from 2002 to 2007, or about $1.9 trillion in mortgage loans to borrowers with credit scores lower than 660.

The report comes after Rep. Barney Frank (D-Mass.) – who fought against regulation of the two quasi-public mortgage giants — and Rep. Anthony Weiner (D-N.Y.) wrote a letter in June to Fannie Mae and Freddie Mac calling on the GSEs to lower lending standards on condo buyers.

The report argues that lowered lending standards were the cause of the housing crisis and did not exempt the Republicans or the Bush administration from blame. It said placing certain lending quotas for under-served populations allowed “both Democratic and Republican administrations to consistently make campaign promises to boost homeownership through government intervention in the market.

Consequently, under both the Clinton and Bush administrations, HUD dramatically increased these quotas, which reached their zenith when the Bush administration raised them to 56 percent, 27 percent and 39 percent, respectively.”

“As home prices continued their dizzying rise, many people decided to cash in by buying a house with an adjustable rate mortgage featuring a low introductory teaser rate set to increase after a few years,” the report continues.

“These borrowers, confident in the oft-cited assertion that U.S. home values had never before fallen in the aggregate, planned to sell or refinance their investment before the mortgage rate adjusted upward, pocketing the difference between the initial purchase price and the subsequent appreciation in value,” says the report. “However, buyers failed to grasp the effect of a government policy that had quietly eroded the prudential limits on mortgage leverage, creating a dangerous speculative bubble.”

The report also talks about how the two GSEs became a powerful lobby. Fannie Mae CEO Jim Johnson opened up “partnership offices” in congressional districts, hired relatives of members of Congress, and GSE employees contributed $15 million to federal campaigns from 1998 to 2008. Throughout that time, all attempted reforms in Congress were blocked.

Also, in 1995, “Johnson seeded the Fannie Mae Foundation with $350 million of Fannie stock. The company used this foundation to spread millions of dollars around to politically connected organizations like the Congressional Hispanic Caucus Institute,” states the report.

Fannie and Freddie were not subject to regulation by the Securities and Exchange Commission, while executives were paid well. Former Fannie CEO Franklin Raines earned more than $50 million in compensation during his six-years at the helm, the report says. Fannie and Freddie paid billions more to shareholders. “Thus, the government subsidizations of GSE operations amounted to little more than corporate welfare,” the report says.

The report cites Frank’s accusations that to blame Fannie and Freddie is to blame only the lender and not the borrower.

“This misses the mark entirely. In fact, responsibility for the erosion of mortgage lending standards, which began with government affordable housing policy, rests squarely on the policy makers who advocated these ill-conceived policies in the first place,” the report says. “Borrowers quite naturally responded to the incentives they were given, irrespective of their socioeconomic status, and risky lending spread to the wider mortgage market.”

Wednesday, June 17, 2009
by John Aravosis (DC)
AMERICAblog

Is Obama giving federal agencies a right they already have?

UPDATE: The answer is “yes.” I just asked OPM Director John Berry, on a White House media conference call, whether in fact federal agencies already have the right to give these benefits to gay employees. The answer, “yes.” So what’s new about tonight? Obama is going to “tell” the agencies to give the benefits - as if any agency in the Obama administration would dare tell a gay employee no to a request for time off to attend their partner’s funeral?
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We all now know that President Obama this evening will give some federal agencies the right to give some federal employees some benefits at some time in the future. The problem, as one reader writes, is that federal agencies already have that right, and in fact, are already providing the benefits. So what is President Obama actually giving us?

Regarding your latest post of the WH Fact Sheet — here are some important facts that your readers may care to know.

The para (below) regarding “new” benefits available to domestic partners — these benefits have been available for YEARS !!!!

For civil service employees, domestic partners of federal employees can be added to the long-term care insurance program; supervisors can also be required to allow employees to use their sick leave to take care of domestic partners and non-biological, non-adopted children.

Nothing new here.

1) See the OPM website which permits long term care to be extended “Qualified Relatives” that includes:

QUALIFIED RELATIVE- The term ‘qualified relative’ means each of the following:
The spouse of an individual described in paragraph (1), (2), (3), or (4).
A parent, stepparent, or parent-in-law of an individual described in paragraph (1) or (3).
A child (including an adopted child, a stepchild, or, to the extent the Office of Personnel Management by regulation provides, a foster child) of an individual described in paragraph (1), (2), (3), or (4), if such child is at least 18 years of age.
An individual having such other relationship to an individual described in paragraph (1), (2), (3), or (4) as the Office may by regulation prescribe.

2) During the Clinton administration — guidance was requested about whether sick leave could be used to take care of same-sex partners and/children. The answer came back that a federal employee could use their sick leave to take care of, attend doctor appointments, or even attend funerals for anyone who had the “close approximation of family”. This was a guidance memo — not policy — but it has been available since the mid 1990’s. The reason I know this is that I have worked for a DOD Agency for 23 years and even DOD allowed me to take sick leave to care for my partner and my non-bio child.

What a bunch of nothing.

Lisa Polyak
Baltimore, MD

Tincture of Lawlessness
Obama’s Overreaching Economic Policies

By George F. Will
Thursday, May 14, 2009

Anyone, said T.S. Eliot, could carve a goose, were it not for the bones. And anyone could govern as boldly as his whims decreed, were it not for the skeletal structure that keeps civil society civil — the rule of law. The Obama administration is bold. It also is careless regarding constitutional values and is acquiring a tincture of lawlessness.

In February, California’s Democratic-controlled Legislature, faced with a $42 billion budget deficit, trimmed $74 million (1.4 percent) from one of the state’s fastest-growing programs, which provides care for low-income and incapacitated elderly people and which cost the state $5.42 billion last year. The Los Angeles Times reports that “loose oversight and bureaucratic inertia have allowed fraud to fester.”

But the Service Employees International Union collects nearly $5 million a month from 223,000 caregivers who are members. And the Obama administration has told California that unless the $74 million in cuts are rescinded, it will deny the state $6.8 billion in stimulus money.

Such a federal ukase (the word derives from czarist Russia; how appropriate) to a state legislature is a sign of the administration’s dependency agenda — maximizing the number of people and institutions dependent on the federal government. For the first time, neither sales nor property nor income taxes are the largest source of money for state and local governments. The federal government is.

The SEIU says the cuts violate contracts negotiated with counties. California officials say the state required the contracts to contain clauses allowing pay to be reduced if state funding is.

Anyway, the Obama administration, judging by its cavalier disregard of contracts between Chrysler and some of the lenders it sought money from, thinks contracts are written on water. The administration proposes that Chrysler’s secured creditors get 28 cents per dollar on the $7 billion owed to them but that the United Auto Workers union get 43 cents per dollar on its $11 billion in claims — and 55 percent of the company. This, even though the secured creditors’ contracts supposedly guaranteed them better standing than the union.

Among Chrysler’s lenders, some servile banks that are now dependent on the administration for capital infusions tugged their forelocks and agreed. Some hedge funds among Chrysler’s lenders that are not dependent were vilified by the president because they dared to resist his demand that they violate their fiduciary duties to their investors, who include individuals and institutional pension funds.

The Economist says the administration has “ridden roughshod over [creditors’] legitimate claims over the [automobile companies’] assets. . . . Bankruptcies involve dividing a shrunken pie. But not all claims are equal: some lenders provide cheaper funds to firms in return for a more secure claim over the assets should things go wrong. They rank above other stakeholders, including shareholders and employees. This principle is now being trashed.” Tom Lauria, a lawyer representing hedge fund people trashed by the president as the cause of Chrysler’s bankruptcy, asked that his clients’ names not be published for fear of violence threatened in e-mails to them.

The Troubled Assets Relief Program, which has not yet been used for its supposed purpose (to purchase such assets from banks), has been the instrument of the administration’s adventure in the automobile industry. TARP’s $700 billion, like much of the supposed “stimulus” money, is a slush fund the executive branch can use as it pleases. This is as lawless as it would be for Congress to say to the IRS: We need $3.5 trillion to run the government next year, so raise it however you wish — from whomever, at whatever rates you think suitable. Don’t bother us with details.

This is not gross, unambiguous lawlessness of the Nixonian sort — burglaries, abuse of the IRS and FBI, etc. — but it is uncomfortably close to an abuse of power that perhaps gave Nixon ideas: When in 1962 the steel industry raised prices, President John F. Kennedy had a tantrum and his administration leaked rumors that the IRS would conduct audits of steel executives, and sent FBI agents on predawn visits to the homes of journalists who covered the steel industry, ostensibly to further a legitimate investigation.

The Obama administration’s agenda of maximizing dependency involves political favoritism cloaked in the raiment of “economic planning” and “social justice” that somehow produce results superior to what markets produce when freedom allows merit to manifest itself, and incompetence to fail. The administration’s central activity — the political allocation of wealth and opportunity — is not merely susceptible to corruption, it is corruption.

Thanks 2 George F. Will and The Washington Post

Take a look at the link below from michellemalkin.com

U.S. Won’t Label Terror Suspects as ‘Enemy Combatants’

The video below is a stand-up bit Carlin did back in the 80’s. Like much of Carlin’s social commentary, it was not only applicable then, but through out our lives.

Laugh along as I we did then and now… Carlin and ‘Shell Shock’ (Just the first 3 mins)

OBAMA WANTS TO DESTROY AMERICA

While doing my job the other day, a co-worker and I began a conversation about our economy. Since the subject was brought up by my co-worker, I let them speak at length… with me just adding an occasional, yeah, uhuh, right… you get the idea. The basic premise that was being put forth by my co-worker is that ~deep breath~ Obama, has really at this point done nothing for the average American worker… now I stress WORKER and not potential or current governmental employee.

What he has done is implemented a bunch of government projects that in some cases end, and in others, produce things that only our government wants or has determined in the best interest of OUR country. You can not export clean air regulated by a government. You can not produce a product that other countries don’t want and for that matter, CARE ABOUT in the first place.

Prime example is nuclear energy. France is the leader in nuclear powered energy. WHY? Because it is cheaper, more efficient and yes… CLEANER than all other energy combined. But here, in the states, we care about the environment, and government regulations make it prohibitive for private industry to even TRY! TO EVEN TRY to produce a more efficient, cleaner way.

Now follow me if you can… If America could find a better way to produce nuclear power, that would be something that other countries would want, NOT GREENER CARS!

Its like the stupid freak n Superconducting Super Collider that they (United Stateds of Pork Gut Spending), started building out there in… what the hell what it… Waxahachie, Texas. After billions and billions of tax payer money and thousands of empty jobs the project was put on hold.

What am I saying… this is what I’m saying. America needs to be producing something other then government mandated jobs and start putting money back into the private sector for real long term job creation that will produce products that the rest of the world wants to buy. We do not need any more governmental regulations that mandate that government money should produce a government product that is only viable in freak’n America.

And another thing… I don’t want me or my children and their children and their children’s, children to own any house that is not theirs. I do not want to take part in a multi-billion dollar bailout of every ass that bought a house they know that they could not afford. Not my responsibility pal. I look at it like this… Every one of us who had enough common sense, and did not buy something beyond our means is being punished for being prudent, cautious… or knowing that 1+1 will never equal anything but 2.

Thats enuff for now….

Now its MANNING TIME!

787 Billion Dollar Voodoo Bill:

When you look at the videos that I have posted below you can have many knee-jerk reactions…

The first video does say something about the direction we as a nation have now endorsed, and if endorsed is too much for you then try enabled.

The second video is a reason to believe that there is still someone that does understand what American ideals and values stand for.

The third and final video is of Pastor Manning. I came across him mid point of this past election season. If you have not seen him yet, take a minute or so and check him out.

Young Jeezy has responded to this segment on O’Reilly with the following statement:

“At the end of the day, you’re dealing with cats who think that we as young black men don’t know what it is we do. We entrepreneurs, we came from nothing. If you gotta mispronounce my name to try to be funny and you got a Harvard or whatever education you got, then you’re really showing how ignorant you are.”

Now lets take a look at this.

Tell me… which is more inspiring, more like America, more like the kind of man that you would want you kids or children to follow… Mike Steele, or Young Jeezy?

And then we have Pastor Manning and his view on the matter…

Obama Hates on America:

In Florida , an atheist filed a case against the upcoming Easter and
Passover holy days. He hired an attorney to bring a discrimination case
against Christians, Jews and observances of their holy days. The argument
was that it was unfair that atheists had no such recognized days.

The case was brought before a judge. After listening to the passionate
presentation by the lawyer, the judge banged his gavel, declaring,”Case
dismissed!”

The lawyer immediately stood objecting to the ruling saying, “Your honor,
how can you possibly dismiss this case? The Christians have
Christmas,Easter and others. The Jews have Passover, Yom Kippur and
Hanukkah, yet my client and all other atheists have no such holidays.”

The judge leaned forward in his chair saying, “But you do. Your client,
Counsel, is woefully ignorant.”

The lawyer said, “Your Honor, we are unaware of any special observance or
holiday for atheists.”

The judge said, “The calendar says April 1st is April Fools Day. Psalm
14:1 states, ‘The fool says in his heart, there is no God.’ Thus, it is
the opinion of this court, that if your client says there is no God, then
he is a fool. Therefore, April 1st is his day.

Court is adjourned.

Our Weekly check-up/in on the Pastor Manning:
The White Womb Birthed All American Presidents

Related Srtories…

Is Obama Black, White, Both or Neither?

Copyright 2008 The politicalpyro contributors. The information contained in the blog may be published, broadcast, rewritten or otherwise distributed without the prior written authority of politicalpyro contributors. YouTube video was inserted by politicalpyro contributors blog.

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Just when you thought that your were safe to return to the great outdoors…

Foley.. click here

Edwards.. click here

And freaks…

Franken.. click here

I’m sure they would go away, away… if we just would freak’n remember what they did!

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