And So I Go: Yesterday, Today and Tomorrow

Archive for the ‘Shore Bank Scam’ Category

Heritage Newsletter offer us experts opinions on the news of the day and how it will affect you.   This was really a big day since the Supreme Court came down with two big rulings: one gave a victory to gay marriage by ruling against the Congressional Bill passed under Clinton called the Defense of marriage Act (DOMA)  which ruled marriage as being between a man and a woman.  I have been against this changing of our marriage laws on the grounds off finances.   This act by the court throws the problem back to the states but then after ruling that the California law *(voted for by the people) against gay marriage as unconstitutional it seems no state and certainly the majority of the voters have no say in this matter.   As stated I have been and am against the legalizing of s  gay marriage  because it  fives rights for financial support that have been the rights of wives and husbands only.   For instance social security support for widows and orphans.  the “orphans” part may be easy top figure out but who is the “widow”?   Are Both  parties in a lesbian marriage widows?   Do homosexual couples need to designate a “widow”?  And this is just the tip of a huge financial ice berg that We the Taxpayers will be responsible for that we were not before today.

The second ruling by the Supreme Court was one I feel is long overdue in being corrected.  States should and do have the right to determine what their voting laws are but until todays ruling 14 states had to get permission from some clerk in Washington before they could so much as change the location of a voting location.  In fact  one district in one of these states could not vote in the 2000 election due to a water pipe breaking and  flooding the polling place.  But since they had to get permission from Washington to move the site they simply had to disenfranchise the voters ion that district!   Now that was an extreme and surely rare happening but it really does point out the nonsense of following a law that was very necessary when passed by 50 years later attitudes and laws and mostly people’s views have changed and no Black can or will be kept from voting.  After all we do now have a Black as President!

And be sure to take note of how our President plans to go around your elected officials in Congress and use the EPA Environmental Protection Agency to force  his climate change agenda and war on coal and oil on us.   People there is no such thing as climate change.  the Earth is not getting hotter.  Obama lied again and again in his speech yesterday at Georgetown University.  Don’t believe me but do your own research and go to the records kept by the government itself  and see that we are experiencing right now the cycle that is normal and active in the 1950’s.  Then the hotter seasons was followed by a cooling off and so-called “cooling of the Earth due to the use of fossil fuels ” that occurred in the 1970’s.  these damned fools lead by Hollywood idiots and our President  are helping a cool group of men led by Al Gore and Barrack Obama to make a pile of money.   But while they are manipulating and  lining their pockets with all the money it will cost to go from fossil fuels to their so-called clean and not at all reliable wind and solar We the People are going to see the cost of energy to us going out of  sight.  And since energy is needed for every aspect of our lives including the food on our tables that means everything in our lives will cost more.  Well, anyhow  please do read the article and go to the references.   Sincerely, BB

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Items for Wednesday, June 26, 2013

Divided Supreme Court strikes down key voting rights provision
The Washington Times

John Malcolm

Obama planning to sidestep Congress for next phase in climate change agenda
Fox News

Nicolas Loris

David Kreutzer

Jack Spencer


Snowden flap bares hapless U.S.

Boston Herald

Peter Brookes

James Carafano

Ariel Cohen
INFOGRAPHIC: What You Should Know About Marriage
The Foundry Blog

Ryan Anderson

Jennifer Marshall

Andrew Walker

Sarah Torre


Immigration and the Crisis of Opportunity

National Review Online

Genevieve Wood

Mike Gonzalez

Stuart Butler


Latest Heritage Research
:

ISSUE BRIEF
How to Slash Billions from the Agriculture Appropriations Bill

Gang of Eight Giveaways
National Review

Jessica Zuckerman

Mike Needham

Dan Holler

Obama energy push could loom large in 2014
Politico

Nick Loris

David Kreutzer

Jack Spencer

Snowden mystery deepens, took job to gather NSA evidence
USA Today

Steven Bucci

Peter Brookes

James Carafano

Snowden Case Has Cold War Aftertaste
The New York Times

Ariel Cohen

5 Things You Need to Know About the Supreme Court’s Marriage Cases
The Foundry Blog

Ryan Anderson

Andrew Walker

Jennifer Marshall

 

Latest Heritage Research:

ISSUE BRIEF
Helping Southeast Asia Come to Grips with the Reality of Taiwan

ISSUE BRIEF
Obama’s Trip to Africa: Make It More Than a Photo-Op

ISSUE BRIEF
Schumer–Corker–Hoeven Amendment Fails on Securing the Border and Halting Illegal Immigration

BACKGROUNDER
Ratifying the Disabilities Convention Will Not Help Americans with Disabilities at Home or Abroad

ISSUE BRIEF
Kerry in India: Setting the Tone on Security Issues

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Rising number of small banks are becoming TARP ‘deadbeats’.Those of you who have been with me for  awhile know that I raised my hackles and  the posts flew out of my keyboard over the TARP program (that was before they called it TARP and just called it what it was and is:  BAILOUTS.)  As it turned out Wall Street didn’t need the money because as soon as the Congress decided after the fact to put some strings and regulations on these funds they started coming back to the Treasury and with interest and penalty payments even.  The big guys wanted the government  out ASAP.  TARP was by any standards if measurement you want to use a complete failure to stimulate the economy.  It was however a complete success at putting our great grandchildren in debt and causing the economy to continue downwards due to this high federal debt.

Then of course we also had the Stimulus Plan, huge Budget and more bailouts and government actually taking over private businesses (auto industry, Freddy Mac and Fannie Mae).

The banks that got government funds were supposed to lend out the money but of course they didn’t because with the economy going sour they didn’t want to be part of those who went out of business.    Now we see they are not even paying their interest payments on what was supposed to be a “loan”.

But not to worry after all this is the federal government and everyone knows the feds only come after the peons like you and me who might owe the government a coupler hundred dollars at most.  You see peons can be frightened by the tough talking federal lackeys.  (Lackeys who are very well paid by the way!)

Rising number of small banks are becoming TARP ‘deadbeats’

A Treasury report shows that more than 120 institutions have  missed their quarterly dividend payments.

A Treasury report shows that more than 120 institutions have missed their quarterly dividend payments. (Mark Lennihan)

By Brady Dennis

Tuesday, September 14, 2010

Big Wall Street firms have the most bruised public reputations, but it’s a collection of smaller banks that continues to plague the Treasury Department’s bank bailout program.

The latest report from the agency shows that more than 120 institutions – nearly all of them small banks – have missed their scheduled quarterly dividend payments, which is more than a sixth of the banks that received federal aid during the financial crisis.

In addition, five banks that received capital injections from the $700 billion Troubled Assets Relief Program have failed altogether, making it highly unlikely that taxpayers will recover the nearly $3 billion poured into those institutions.

The Treasury report showed that at the end of August, a record six banks each missed six dividend payments. Saigon National Bank in Southern California has missed seven.

The rising number of “deadbeat” banks, as they are known, has prompted calls for Treasury officials to take action to protect taxpayers’ investment.

The bailout legislation gives the Treasury the authority to appoint two members to the boards of banks that miss six or more dividend payments, but the agency has refrained from doing so.

In its report, the Treasury stated that in weighing whether to exercise its option to appoint directors, it would “prioritize” institutions in part based on whether the government’s investment in the bank exceeds $25 million.

That list includes AnchorBank of Wisconsin, which received $110 million, and Seacoast National Bank of Florida, which received $50 million.

“We are exploring a number of options on how to properly exercise our contractual rights so to best protect the interests of taxpayers,” Treasury spokesman Mark Paustenbach said.

Administration officials are quick to point out that, overall, the TARP program has fared far better than initial projections and that the estimated cost of the program has continued to dwindle. (The nonpartisan Congressional Budget Office recently lowered the projected final cost to $66 billion.)

They say that while the missed payments from an increasing number of community banks are a legitimate problem, the amount of taxpayer money at stake pales in comparison with the government investments in companies such as General Motors and insurance giant American International Group.

In addition, they note that taxpayers have already recovered three-quarters of the TARP funds invested in banks.

Others expect the problem of missed dividend repayments to continue to grow as small banks continue to struggle with the lagging economy and troubled loan portfolios. Most large and healthy banks long ago repaid their aid and exited the bailout program.

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“The number of institutions missing their dividends will tend to go higher,” said Linus Wilson, a finance professor at the University of Louisiana at Lafayette who has monitored the government’s aid efforts. “You have the really strong institutions leaving the program, and the not-so-strong ones tend to get worse.”

During the crisis, the Treasury pledged to give aid only to banks that were in relatively good shape but that needed help to weather the financial upheaval. Looking back, Wilson said, some of the government’s investments “were really speculative at the time.

He cited CIT Group, which failed despite a $2.3 billion infusion of taxpayer money, and OneUnited, the Massachusetts-based bank that has missed six dividend repayments and has come under scrutiny for seeking help from U.S. Reps. Barney Frank (D-Mass.) and Maxine Waters (D-Calif.).

Wilson said the wave of missed payments also should stoke skepticism about the administration’s plan to make more taxpayer money available to community banks through a small-business bill that the Senate is expected to take up this week. Among other things, the legislation would create a $30 billion fund that smaller banks could tap to extend loans to businesses.

Administration officials have insisted that weak or troubled banks would be excluded from the program and note that, to participate, a bank’s federal regulator must deem it viable.

Got this email from a friend and simply have to pass it on.  It is the same energy scheme that Glenn Beck spoke of a few months ago and called Crime Inc.  But maybe the written account will be easier to grasp than just listening.  I know I do better with the written word :).

I am posting the email just as I got it so the beginning is what my friend had to say and then the story from the British Times.  BB

*****************************

To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical………..  Thomas Jefferson

It took the British Times to piece together some of Obama cronies’ crooked activities.  The web of

deceit is so huge its staggering.  Read to the end, it gets better as you read.   Just another sell out of the American people by Obama’s crowd and Gore.

So . . . you think you know quite a bit about Obama and his band of thieves.

You don’t know anything yet. Read on all of this as it all comes together in

the last part……..  a must read.

This is an interesting story put together from various articles and TV
shows by the British Times paper. It shows what Obama and his friends
are really all about. It’s not hope and change, it is money.

I warn you, the first part is a little boring, but stick with it. The
second part connects all the dots for you (it will open your eyes). The
end explains how Obama and all his cronies will end up as
multi-billionaires. (It’s definitely worth the read. You will not be
disappointed).
*********************************
A small bank in Chicago called SHOREBANK almost went bankrupt during the
recession. The bank made a profit on its foreign micro-loans (see
below) but had lost money in sub-prime mortgages in the US . It was
facing likely closure by federal regulators. However, because the bank’s
executives were well connected with members of the Obama Administration,
a private rescue bailout was arranged. The bank’s employees had donated
money to Obama’s Senate campaign. In other words, ShoreBank was too
politically connected to be allowed to go under.

ShoreBank survived and invested in many “green” businesses such assolar
panel manufacturing. In fact, the bank was mentioned in one of Obama’s
speeches during his election campaign because it subjected new business
borrowers to eco-litmus tests.

Prior to becoming President, Obama sat on the board of the JOYCE
FOUNDATION, a liberal charity. This foundation was originally
established by Joyce Kean’s family which had accumulated millions of
dollars in the lumber industry. It mostly gave funds to hospitals but
after her death in 1972, the foundation was taken over by radical
environmentalists and social justice extremists.

This JOYCE FOUNDATION, which is rumored to have assets of 8 billion
dollars, has now set up and funded, with a few partners, something
called the CHICAGO CLIMATE EXCHANGE, known as CXX. It will be the
exchange (like the Chicago Grain Futures Market for agriculture) where
Environmental Carbon Credits are traded.

Under Obama’s new bill, businesses in the future will be assessed a tax
on how much CO2 they produce (their Carbon Footprint) or in other words
how much they add to global warming. If a company produces less CO2 than
their allotted measured limit, they earn a Carbon Credit. This Carbon
Credit can be traded on the CXX exchange. Another company, which has
gone over their CO2 limit, can buy the Credit and “reduce” their
footprint and tax liability. It will be like trading shares on Wall
Street.

Well, it was the same JOYCE FOUNDATION, along with some other private
partners and Wall Street firms that funded the bailout of ShoreBank.
The foundation is now one of the major shareholders. The bank has now
been designated to be the “banking arm” of the CHICAGO CLIMATE EXCHANGE
(CXX). In addition, Goldman Sachs has been contracted to run the
investment trading floor of the exchange.

So far so good; now the INTERESTING parts.

One ShoreBank co-founder, named Jan Piercy, was a Wellesley College
roommate of Hillary Clinton. Hillary and Bill Clinton have long
supported the bank and are small investors.

Another co-founder of Shorebank, named Mary Houghton, was a friend of
Obama’s late mother. Obama’s mother worked on foreign MICRO-LOANS for
the Ford Foundation. She worked for the foundation with a guy called
Geithner. Yes, you guessed it. This man was the father of Tim Geithner,
our present Treasury Secretary, who failed to pay all his taxes for two
years.

Another founder of ShoreBank was Ronald Grzywinski, a cohort and close
friend of Jimmy Carter.

The former ShoreBank Vice Chairman was a man called Bob Nash. He was the
deputy campaign manager of Hillary Clinton’s presidential bid. He also
sat on the board of the Chicago Law School with Obama and Bill Ayers,
the former terrorist. Nash was also a member of Obama’s White House
transition team.

(To jog your memories, Bill Ayers is a Professor at the University of
Illinois at Chicago . He founded the Weather Underground, a radical
revolutionary group that bombed buildings in the 60s and 70s. He had no
remorse for those who were killed, escaped jail on a technicality, and
is still an admitted Marxist).

When Obama sat on the board of the JOYCE FOUNDATION, he “funneled”
thousands of charity dollars to a guy named John Ayers, who runs a
dubious education fund. Yes, you guessed it. The brother of Bill Ayers,
the terrorist.

Howard Stanback is a board member of Shorebank. He is a former board
chairman of the Woods Foundation. Obama and Bill Ayers, the terrorist,
also sat on the board of the Woods Foundation. Stanback was formerly
employed by New Kenwood Inc. a real estate development company co-owned
by Tony Rezko.

(You will remember that Tony Rezko was the guy who gave Obama an amazing
sweet deal on his new house. Years prior to this, the law firm of Davis ,
Miner, Barnhill & Galland had represented Rezko’s company and helped him
get more than 43 million dollars in government funding. Guess who worked
as a lawyer at the firm at the time. Yes, Barack Obama).

Adele Simmons, the Director of ShoreBank, is a close friend of Valerie
Jarrett, a White House senior advisor to Obama. Simmons and Jarrett also
sit on the board of a dubious Chicago Civic Organization.

Van Jones sits on the board of ShoreBank and is one the marketing
directors for “green” projects. He also holds a senior advisorposition
for black studies at Princeton University . You will remember that Mr.
Van Jones was appointed by Obama in 2009 to be a Special Advisor for
Green Jobs at the White House. He was forced to resign over past
political activities, including the fact that he is a Marxist.

Al Gore was one of the smaller partners to originally help fund the
CHICAGO CLIMATE EXCHANGE. He also founded a company called Generation
Investment Management (GIM) and registered it in London , England . GIM
has close links to the UK-based Climate Exchange PLC, a holding company
listed on the London Stock Exchange. This company trades Carbon Credits
in Europe (just like CXX will do here) and its floor is run by Goldman
Sachs.

Along with Gore, the other co-founder of GIM is Hank Paulson, the former
US Treasury Secretary and former CEO of Goldman Sachs. His wife, Wendy,
graduated from and is presently a Trustee of Wellesley College. Yes, the
same college that Hillary Clinton and Jan Piercy, a co-founder of
Shorebank attended. (They are all friends).

Interesting? And now the closing…

Because many studies have been exposed as scientific nonsense, people
are slowly realizing that man-made global warming is nothing more than a
money-generating hoax. As a result, Obama is working feverishly to win
the race. He aims to push a Cap-and-Trade Carbon Tax Bill through
Congress and into law.

Obama knows he must get this passed before he loses his majority in
Congress in the November elections. Apart from Climate Change he will
“sell” this bill to the public as generating tax revenue to reduce our
debt. But, it will also make it impossible for US companies to compete
in world markets and drastically increase unemployment. In addition,
energy prices (home utility rates) will sky rocket.

But, here’s the KICKER (THE MONEY TRAIL).

If the bill passes, it is estimated that over 10 TRILLION dollars each
year will be traded on the CXX exchange. At a commission rate of only 4
percent, the exchange would earn close to 400 billion dollars to split
between its owners, all Obama cronies. At a 2 percent rate, Goldman
Sachs would also rake in 200 billion dollars each year.

But don’t forget SHOREBANK. With 10 trillion dollars flowing though its
accounts, the bank will earn close to 40 billion dollars in interest
each year for its owners (more Obama cronies), without even breaking a
sweat.

It is estimated Al Gore alone will probably rake in 15 billion dollars
just in the first year. Of course, Obama’s “commissions” will be held in
trust for him at the Joyce Foundation. They are estimated to be over 8
billion dollars by the time he leaves office in 2013, if the bill passes
this year. Of course, these commissions will continue to be paid for the
rest of his life.

Some financial experts think this will be the largest “scam” or”legal
heist” in world history. Obama’s cronies make the Mafia look like rank
amateurs. They will make Bernie Madoff’s fraud look like penny ante
stuff.

See topic cloud at bottom of page for specific topics.

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BB’s file cabinet

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