Posts Tagged ‘Bank of America’

Hypocrite-In-Chief Obama To Accept Democrat Nomination At Crony Capitalist Bank Of America Stadium So Filthy Rich Fat Cats Can Purchase Luxury Boxes

January 19, 2012

Let’s review the latest chutzpah escapades of our Hypocrite-in-Chief:

Take it to the Bank
 
It’s official.
 
President Obama will accept his party’s nomination on the last day of the Democratic National Convention at the Bank of America Stadium in Charlotte, North Carolina.
 
Bloomberg reported last week that convention planners were struggling to meet their $37 million fundraising goal and the new venue would allow for more incentives, such as luxury skyboxes, to attract wealthy donors.
 
Well, Occupy Wall Street weighed in, saying it’s part of a broader problem and that — quote“It reflects the tendency of the Democratic Party and President Obama in particular to prioritize the interest of financial institutions and wealthy donors over working class families.”

Barack Obama is doing this while positioning himself as “the 99 percent candidate.”  Because he is a fascist liar without a scintilla of shame or honor.

Bank of America, in fact, has taken more than A TRILLION DOLLARS in secret Obama bailouts.  To be precise, BoA has taken $1.344 trillion in bailouts.

Obama took $421,242 in campaign contributions from Bank of America – which is far more than any Republican took from them.

As I document here, Barack Obama took huge campaign money from ALL the big banks that are going to continue needing “too big to fail” bailouts.  They bought him and paid for him.

And I can’t claim this is true, given the extremely liberal sources, but the Daily Kos is reporting that Bank of America is angling for a SEVENTY-FIVE TRILLION DOLLAR BAILOUT for the wreckage it has done.

Obama having his coronation at Bank of America Stadium is a vicious slap in the face of every single American.

And he’s counting on you to be too damn stupid and too damn immoral to know or care.  And it’s a decent bet that he’ll win that gamble.

If Obama gets re-elected in spite of his record of galling lies and hypocrisy, America deserves to fail and suffer as no nation has ever deserved to fail and suffer before.  Because we had tasted freedom and actually served as the lighthouse for liberty around the world – and then we crapped all over that freedom and liberty and then pissed it away.

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Meet The People Who’ve Been Lecturing Tea Party On Protest Etiquette

May 26, 2010

We’ve heard a constant slough of condemnations against the tea parties for being hateful.

But did the tea party ever go to a liberal’s home and terrorize a child?  I don’t think so:

SEIU members: Are you proud your brethren terrorized a teenager?
May 24, 2010 By Steve McGough

I’m serious. Are you OK with the tactics the SEIU leadership – and 500 members – took when they headed into a residential area to “protest” at the home of Greg Baer, deputy general council for corporate law at Bank of America? They did not just protest. They surrounded the house, got on the porch, used bullhorns and started screaming. Pure intimidation.

Unfortunately, the teen son of Baer was home alone at the time. He had to lock himself inside the bathroom and wait for help that would not be provided by the police.

The media and talking head liberals have remained quiet about this mob surrounding the home of a bank executive and terrorizing a teenager eight days ago, but they continue to express concern about TEA Party protests around the country and suggest they set a bad tone.

Are they friggin’ kidding me?

These SEUI members are the mob of our time. That’s right, I said members. Sure, leadership gurus like former SEUI president Andy Stern – who by the way now sits on the president’s Fiscal Responsibility Commission – may be egging the members on, but this intimidation purely falls on the membership who did this.

You terrorized a teenage kid in his home. Feel big and powerful? Proud of yourselves? Thugs … all of you.

Nina Easton, Washington bureau chief for Fortune, Fox Contributor and neighbor of Baer, recalls the mob scene and provides us with the image. Click to enlarge.

Waving signs denouncing bank “greed,” hordes of invaders poured out of 14 school buses, up Baer’s steps, and onto his front porch. As bullhorns rattled with stories of debtor calls and foreclosed homes, Baer’s teenage son Jack — alone in the house — locked himself in the bathroom. “When are they going to leave?” Jack pleaded when I called to check on him.

Baer, on his way home from a Little League game, parked his car around the corner, called the police, and made a quick calculation to leave his younger son behind while he tried to rescue his increasingly distressed teen. He made his way through a din of barked demands and insults from the activists who proudly “outed” him, and slipped through his front door.

“Excuse me,” Baer told his accusers, “I need to get into the house. I have a child who is alone in there and frightened.”

Easton sums up…

In the 1990s, the Baers’ former bosses, Bill and Hillary Clinton, denounced the “politics of personal destruction.” Today politicians and their voters of all stripes grieve the ugly bitterness that permeates our policy debates. Now, with populist rage providing a useful cover, it appears we’ve crossed into a new era: The politics of personal intimidation.

Big Government writes about this story here, here, here and here. Scott Johnson at Power Line Blog also writes. Main stream media outlets? President Obama? Democrat leadership? Crickets.

Easton – because she simply took a picture and wrote about what happened – has become a secondary target for the SEIU. Disgusting intimidation.

Related posts

Here’s another story on the same story from Investors.  Few other media outlets have bothered to cover it.

“The politics of personal intimidation.”  When have the tea party protesters done anything like this?  How does “never” sound to you liberals?  They never done anything like this.  They’ve NEVER terrorized a man’s children.  That’s something that only Democrats are loathsome enough to do.

When Greg Baer’s terrified 14-year old son called him, Greg called the police.  Do you know what they told him?  They said that they feared the protest would turn into a violent riot if they showed up, so they wouldn’t show up.  And Greg Baer was left with the difficult decision of whether to leave his younger son alone in his car so he could go through the screaming mob gantlet to go into his home to save his older son.

The police didn’t never had a hard time showing up to tea party events.  Here’s Special Weapons And Tactics officers who literally marched into a tea party event in lock step to prevent dangerous old ladies from setting the community on fire with their hate and rage:

Our society is breaking down into a fuzzy mess of political correctness.  We are making ourselves more and more stupid.  We seem to dare not deal with dangerous people – such as terrorists, illegal immigrants, and SEIU thugs terrorizing children – while increasing attention is paid to little old ladies who might get so angry they’ll go to the extremes of calling their congressman.

And when the political left and their media representatives demonize the tea parties for their peaceful demonstrations and falsely depict them as “hateful,” we should give them ANY respect whatsoever WHY, exactly?

The mainstream media falsely reported a story of tea party protesters spitting on a black politician, when the event never occurred, and of using hateful racial slurs against black politicians when there is absolutely no record of any such thing happening in spite of the instant in question being widely documented.

But they haven’t mentioned the numerous documented recent instances of unhinged leftwing protests.  The same media that publishes fictitious demagogic innuendo never seems to care when the left commits actual violence and “hate.”

When pro-illegal immigration Latinos used refried beans to paint swastikas on the Arizona capital, the mainstream media largely ignored it.  When hundreds of violent pro-illegal immigration protesters attacked a man and then threw rocks and water bottles at retreating police, the mainstream media largely ignored it.  When the American political left demonstrated that it was even less tolerant and more violent than Nazis, the mainstream media largely ignored it.  When a liberal mob chased down and physically attacked a pair of Republicans, the mainstream media largely ignored it.  And when instance after instance of actual violence has occurred perpetrated by the left, the mainstream media has basically ignored it.

The next time the left and the leftist media criticize conservatives for their protest style, just realize that they are very full of something that is very brown and very stinky.

Liberals Take Us On Another Good-Intentioned Road To Hell With Credit Card ‘Reform’

February 24, 2010

Have you ever been on the receiving end of an “I-told-you-so” moment?  You know, where you’re about to do something, and somebody warns you, “If you do that, X will happen” where “X” is a bad thing.  And then sure enough, X happens?

The Democrats live in that world.

They get through it by constantly lacking the wisdom to admit they screwed up.  That way they can keep making the same mistakes over and over again, and never have to admit their mistakes.

Well, let’s take another ride on the “I-told-you-so” train:

Credit Card Issuers Raising Rates Ahead of New Law
By Nancy Trejos
Washington Post Staff Writer
Thursday, July 2, 2009

Credit card companies are raising interest rates and fees seven months before new rules go into effect that will limit their ability to do so, much to the irritation of Congress and consumer advocates.

Chase, for instance, will raise the minimum payment required of some of its customers from 2 percent to 5 percent of the statement balance starting in August. Chase and Discover have increased the maximum fee charged for transferring a balance to the card to 5 percent of the amount, up from 3 and 4 percent, respectively. Bank of America last month raised the transaction fee for balance transfers and cash advances from 3 to 4 percent. Card issuers including Bank of America and Citi also continue to cut limits and hike up rates, which they have been doing with more frequency since January.

“This is a common practice and will continue to be common, because issuers can do these things for really no reason until February,” said John Ulzheimer, president of consumer education for Credit.com, which tracks the industry. “It’s what I call the Credit Card Trifecta — lower limits, higher rates, higher minimum payments.”

It’s not just the top card issuers making changes. Atlanta-based InfiBank, for example, will raise the minimum annual percentage rate it charges nearly all of its customers in September “in order to more effectively manage the profitability of our credit card account portfolio in a very challenging economic environment,” said spokesman Kevin C. Langin.

The flurry of activity, which the banks say is necessary to shore up their revenue losses, has irked members of Congress, who passed a new credit card law, which was signed by President Obama in May. The law, among other things, would prevent card companies from raising rates on existing balances unless the borrower was at least 60 days late and would require the original rate to be restored if payments are received on time for six months. The law would also require banks to get customers’ permission before allowing them to go over their limits, for which they would have to pay a fee.

Yesterday, Sen. Charles E. Schumer (D-N.Y.) once again requested that the Federal Reserve invoke its emergency powers to place a limit on interest rate hikes.

“This is what many of us feared about a law that didn’t take effect right away,” Schumer said. “It was never going to take this long for the credit card companies to get ready for the new reforms. Instead, issuers are using the delay in the effective date to wring more dollars out of their customers. It is against the spirit of the law, and it is just plain wrong.”

Rep. Carolyn B. Maloney (D-N.Y.) said the recent rate and fee hikes were “unfair and deceptive and must be stopped.”

“Capricious actions like these are why Congress overwhelmingly passed, and President Obama signed, my credit card reform bill: to level the playing field on behalf of consumers,” she said.

Bank executives had warned that the new law would force them to increase rates and fees because it would keep them from properly managing borrowers’ risk. The argument is that if banks can’t raise rates on riskier customers, they will have to raise rates on all.

Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable, an industry group, said there are two reasons for the rate increases. First, he said, consumer credit scores, which banks use to determine if they should lend and at what price, have decreased. Second, the cost of providing credit has increased. “Once the new law is in effect, we anticipate a further reduction in the availability of credit and additional increases in the cost of credit,” he said.

Banks have been hit with a record number of charge-offs, or debts they give up on because the borrowers have no way of paying them back. In June, credit card losses hit a record 10.44 percent, according to Fitch Ratings.

Increasing rates and fees is one way they can make up for lost revenue. Since January, of the six major card issuers, Citi has had the largest increase in rates for purchases, according to a report by Credit Suisse.

The boldfaced paragraph in red font says it all.  And the paragraph directly beneath the red-font paragraph explains why the Democrats’ interference in the free market and in private businesses’ business won’t do anything but hurt the overall system.  Because they didn’t do anything to fix the actual problems.

Democrats are so shocked and outraged about something that they were repeatedly TOLD would happen.

Which makes it absurd, asinine, demagogic outrage, at best.

In tough times, credit card companies are likely to raise rates to squeeze more revenue out of a hurting market, yes.  But many of those companies would have reduced rates and fees as the market improved in order to compete with other companies and attract more customers.

But those credit card companies won’t be doing that now.  Why?  Because Democrats have essentially locked those shockingly high- rate and fee-hikes in.  They went up, and up, and up.  But they will never go back down until those stupid Democrat laws are rescinded.

This is precisely what happened during the Great Depression, and why it dragged on and on and on in America when virtually every other nation had long since bounced back [see the World Economic Survey: Eighth Year, 1938/39 (Geneva: League of Nations, 1939), p. 128].  American liberals just kept passing one market-killing measure after another that prevented businesses, the markets, or the economy in general from reaching equilibrium and bouncing back.

In the situation above, credit card companies are being forced to jack up their rates, jack up their fees, cut credit lines, and adjust their cardholder policies to preclude riskier applicants from being able to borrow in the first place, because the rules Democrats forced on them won’t allow them to manage or balance their own risks in the future.

In other words, the credit card companies have joined the 77% of investors in this country who view Obama and his market-killing policies as “anti-business.”

So if you find that your rates have skyrocketed, if you find that your minimum payment has tripled, if you find that you’re suddenly paying a $500 annual fee, if you find that your credit line has been chopped in half, don’t blame the credit card companies.  Blame Obama.  He’s the one who screwed you.  Because he wouldn’t allow credit card companies to raise rates on the risky customers, and insisted that instead they raise rates on everybody.

These drastic changes from your credit card lender is a direct result of Obama’s policies.

It is often said that “the road to hell is paved with good intentions.”  I can only imagine that whoever coined this phrase to begin with had the Democrat Party in mind.