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here-it-comesFannie Mae, following AIG’s suit is now planing to give bonuses to top execs despite doing an abysmal job.

Fannie Mae, in an effort to keep hundreds of employees from leaving the government-controlled company, is planing to pay retention bonuses at a minimum of at least 1 million dollars to four “key” executives.

Freddie Mac is also planing disbursing similar awards but has yet to report which executive will be the recipients.

These two companies hold or back more than 50% of the mortgages in this country. Now for the kicker, these two companies requested a grand total of 60 billion dollars in federal assistance to keep them solvent. With Freddie Mac requesting 45 billion dollars and Fannie Mae requesting 15 billion.

It is outrageous enough that the very people who drove these companies into the ground are still even employed at their respective companies but now to reward them for preforming poorly is pure lunacy. I for one do not buy the statements made that these bonuses are contracts and must be honored. Congress just gave judges the authority to essentially re-write mortgages, decreasing not only the interest charged on the loan but the ability to decrease the actual principal amount. Now I ask you is a mortgage note a contract or is in not??

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Technorati Tags: AIG, bonuses, executive bonuses, Fannie Mae, Freddie Mac

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Hey Soldier, Pay Your Own Medical Bills!

Our government will bail you out with taxpayer money if you brought more house than you could afford and are now facing foreclosure. Our government will bail out your business that is failing due to poor management, excessive bonuses and a poor business model. Our government is even trying to ensure that illegal immigrants and their children have health insurance benefits.

Now, this same government that his handing out taxpayer money hand over fist, taxpayer money that has not actually yet been collected but rather will be collected from future generations, is now contemplating having military personnel injured while on duty pay their own medical bills. Eric Shinseki,Veterans Affairs Secretary confirmed Tuesday that the Obama administration is considering a controversial plan to make veterans pay for treatment of service-related injuries with private insurance. Lawmakers told the administration that it would be “dead on arrival” if sent to Congress.

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Technorati Tags: Barack Obama, Eric Shinseki, injuries, insurance, military, veterans organizations

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NC Judge Oversteps His Bounds

A North Carolina judge has over stepped his bounds. Judge Ned Mangum of Wake County, NC has order the three children of Venessa Mills back into the public school system after stating her four years of homeschooling needs to be “challenged.”

Challenged despite that fact that her children’s education has been accelerated by teaching at home, with her children testing two grade levels above and beyond their peers.

“I thought Ms. Mills had done a good job [in homeschooling],” he said. “It was great for them to have that access, and [I had] no problems with homeschooling. I said public schooling would be a good complement.”

The judge said the husband has not been supportive of his wife’s homeschooling, and “it accomplished its purposes. It now was appropriate to have them back in public school.” Mangum said he made the determination on his guiding principle, “What’s in the best interest of the minor children,” and conceded it was putting his judgment in place of the mother’s. And he said that while he expressed his opinion from the bench in the court hearing, the final written order had not yet been signed.

It should also be noted that Judge Mangum is also the judge presiding over Mrs. Mills divorce case. This judge has no right to “put his judgment in place of the mother’s” given that her children are thriving by being home-schooled. This judge is way out of line, just another fine example of the judiciary system run amuck.

A spokesman for the family, Adam Cothes,  said the children routinely had been testing at up to two years above their grade level, were involved in swim team and other activities and events outside their home and had taken leadership roles in history club events. This ruling has not yet been signed but rather was handed down from the bench and it simply can not be allowed to stand.

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Technorati Tags: home schooling, Judge Ned Mangum, Venessa Mills, Wake county

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An Open Letter to the IRS

Actual “Letter to the Editor” from the February 5th edition of the Wichita Falls, Texas, Times Record News….

Dear IRS,
I am sorry to inform you that I will not be able to pay taxes owed April 15, but all is not lost. I have paid these taxes: accounts receivable tax, building permit tax, CDL tax, cigarette tax, corporate income tax, dog license tax, federal income tax, unemployment tax, gasoline tax, hunting license tax, fishing license tax, waterfowl stamp tax, inheritance tax, inventory tax, liquor tax, luxury tax, Medicare tax, city, school and county property tax (up 33 percent last 4 years), real estate tax, social security tax, road usage tax, toll road tax, state and city sales tax, recreational vehicle tax, state franchise tax, state unemployment tax, telephone federal excise tax, telephone federal state and local surcharge tax, telephone minimum usage surcharge tax, telephone state and local tax, utility tax, vehicle license registration tax, capitol gains tax, lease severance tax, oil and gas assessment tax, Colorado property tax, Texas, Colorado, Wyoming, Oklahoma and New Mexico sales tax, and many more that I can’t recall, but I have run out of space and money.

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Technorati Tags: Letter to the Editor, taxes, Taxes owed

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It’s Time to File for Divorce

Dear American liberals, leftists, social progressives, socialists, Marxists and Obama supporters, et al:

We have stuck together since the late 1950′s, but the whole of this latest election process has made me realize that I want a divorce. I know we tolerated each other for many years for the sake of future generations, but sadly, this relationship has run its course. Our two ideological sides of America cannot and will not ever agree on what is right so let’s just end it on friendly terms. We can smile and chalk it up to irreconcilable differences and go our own way.

Here is a model separation agreement:

Our two groups can equitably divide up the country by landmass each taking a portion. That will be the difficult part, but I am sure our two sides can come to a friendly agreement. After that, it should be relatively easy! Our respective representatives can effortlessly divide other assets since both sides have such distinct and disparate tastes.

We don’t like redistributive taxes so you can keep them. You are welcome to the liberal judges and the ACLU. Since you hate guns and war, we’ll take our firearms, the cops, the NRA and the military. You can keep Oprah, Michael Moore and Rosie O’Donnell (You are, however, responsible for finding a bio-diesel vehicle big enough to move all three of them).

We’ll keep the capitalism, greedy corporations, pharmaceutical companies, Wal-Mart and Wall Street. You can have your beloved homeless, homeboys, hippies and illegal aliens. We’ll keep the hot Alaskan hockey moms, greedy CEO’s and rednecks. We’ll keep the Bibles and give you NBC and Hollywood ..

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Technorati Tags: capitalism, conservatives, liberals, Marxists, rights divorce the lefts, socilaists, taxes

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Mexican Drug Cartels Expand Operation to Atlanta, GA

This country is being invaded by illegal immigrants as our government sits idly by. Currently, Atlanta is not yet seeing the same levels of violence that some other major Us cities are, such as Phoniex, AZ, but make no mistake, it is escalating.

How’s this for a plan Uncle Sam, get rid of the pork from the stimulus package and use the funds, currently being earmarked to study manure and tattoo removal, to hire on more law enforcement and DEA agents, prosecutors, correctional officers and contractors and builders to build more prisons to detain the illegal immigrants.

Illegals, I might add,that broke the law to get here and continue to break the law and endanger our citizens once they are within our borders. Funds confiscated from those smuggling other illegals, drugs or other contraban could be used to pay officers and run the prisons. Imagine the jobs created just by enforcing our laws and punishing those who break them, not to mention the by-product of having safer places to live for Americans.

In a city where Coca Cola, United Parcel Service and Home Depot are the titans of industry, there are new powerful forces on Atlanta’s block: Mexican drug cartels.

Their presence and ruthless tactics are largely unknown to most here. Yet, of the 195 U.S. cities where Mexican drug-trafficking organizations are operating, federal law enforcement officials say Atlanta has emerged as the new gateway to the troubled Southwest border.

Rival drug cartels, the same violent groups warring in Mexico for control of routes to lucrative U.S. markets, have established Atlanta as the principal distribution center for the entire eastern U.S., according to the Justice Department’s National Drug Intelligence Center.

In fiscal year 2008, federal drug authorities seized more drug-related cash in Atlanta — about $70 million — than any other region in the country, Drug Enforcement Administration records show.

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Technorati Tags: Atlanta GA, drug cartels, drugs, Government, illegal immigrants, Jobs, Stimulus

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651,000 Jobs Cut in FEB — Reid, Pelosi, Obama  &  Chamber of Commerce Insist on Importing More Foreign Workers

By Roy Beck

Another month has passed. Another half-million (or more) jobs have been lost. And our federal leaders continue to do nothing about auto-pilot programs that are flooding our country with foreign workers.

Nothing has changed since last year when 138,000 new foreign workers were added to the U.S. each month on average.

Here are the latest government facts that can’t seem to soften the hardened hearts of our leaders . . . .

  • The official unemployment rate has soared to 8.1% (highest since 1983)
  • U.S. employers cut 651,000 jobs in February -That is on top of 655,000 jobs lost in January and 681,000 jobs cut in December.
  • 4.4 million — Total jobs eliminated since the recession began in December of 2007.

The number of Americans reeling from the bad job market is staggering:

  • 12.5 million Americans are actively looking for a job and cannot find even part-time employment.
  • Another 8.6 million Americans want a full-time job and have been forced to work part-time.

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Technorati Tags: Foreign workers, Government, illegal immigrants, Job cuts, Jobs, Obama, Unemployment

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Today the House approved a bill (234-191) that would give bankruptcy judged authority to dictate, I mean change, the terms of the loan for home owners that are under water or upside down on their mortgages.

Simply stated, it means the borrower owes more on his home than what the current market value of the home is.

Bankruptcy judges will have the ability (assuming it passes the Senate) to wipe out the portion of the debt that is under water. For instance, if John Smith took out a 200,000 mortgage to by his home in 2005, but current market conditions now dictate that the homes value is now 140,000 the judge can adjust the mortgage, payments and interest, to reflect the current market value of 140,000.

First let me say to the 92% of Americans that pay their mortgages on time and bought homes they could afford, sorry suckers you should have have purchased bigger homes in more affluent areas.

This is wrong on so many levels I can hardly determine where to begin. First and foremost judges are just that…judges. They are not accountants, bankers or realtors. The banks that hold these mortgages can’t not realize these losses.

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Technorati Tags: Foreclosure, governement bailout, Mortgage

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protestGlobal warming activists arrived in Washington on Monday to protest global warming. It was said to be the nation’s largest act of civil disobedience to fight climate change. Protesters arrived only to find DC virtually shut down by this seasons heaviest snowfall of the winter.

Many protesters could not get to DC as dozens of flights in the area were delayed or canceled. Still others couldn’t face the dangerous roads or blustery weather.

Speaker of the House, Nancy “Know-It-All” Pelosi, who called on the architect of the Capitol to stop burning coal at the power plant last week, was forced to canceled her appearance at the rally as her flight to Washington was canceled due to inclement weather.

Organizers of the protest estimate 2,500 people “braved” the blizzard to protest greenhouse gas emissions. Personally I thought they looked extremely foolish. Imagine the sight if you will, 2,500 people standing in snow 6 inches deep, with temperatures in the mid 20′s bundled up in layer upon layer of clothing, carrying signs to protest global warming. Strangely enough the very same thing happened to Al Gore when he gave a speech on global warming in January 2004 in New York.

Maybe, just maybe mother nature is trying to tell you tree huggers something.

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Technorati Tags: Global Warming, greenhouse gas emissions, Protest, Washington D.C.

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Countrywide Executives Profiting from the Public’s Pain

Former Countrywide executives cash in on federal housing bailout

After overseeing a company at the very center of the still-imploding U.S. mortgage market, a dozen former executives are now poised to make millions from the housing crisis.

Stanford L. Kurland, the former president of Countrywide Financial – the bank that has become most synonymous with the bad mortgage lending practices that eventually caused the housing market to burst, setting into motion the current financial crisis – and colleagues from the defunct firm now run PennyMac.

The company, headquartered in the same Los Angeles suburb where Countrywide was managed before it was sold to Bank of America last summer, specializes in buying up bad home mortgages that the U.S. government took over from other failed banks, the New York Times reported Tuesday.

PennnyMac has been buying up some of those mortgages for just a fraction of their value, and they keep a portion of whatever money they collect from the mortgage holder.

PennyMac’s business has been “off-the-charts good,” said John Lawrence, the company’s head of loan servicing, the Times reported.

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Technorati Tags: Countrywide, Foreclosure, mortgages, PennyMAc, Private National Mortgage Acceptance Company

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