May 6, 2009
 

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Obama To Force Israel To Surrender Nukes The Washington Times reports that Barack Obama may counter demands from Israel to confront Iran over their nuclear program by confronting Israel over theirs.  Eli Lake has the exclusive on the Obama administration’s strategy to force Israel under the umbrella of the non-proliferation treaty, apparently as a condition to getting Iran to surrender their nukes.  The effort will include India and Pakistan, and comes from a 2006 Saudi peace plan that would leave Israel at the mercy of the armies surrounding the state.

You won't believe this stuff . . .

What a hoot!

Obama wants Israel to surrender something they have -- in return, Iran will surrender something they haven't.  The end result would be Israel's 5.5 million Jews would be at the absolute mercy of their 1.2 billion Muslim "neighbors."

What kind of deal is that?

And a thank-you-very-much to the 77% of America's Jews who voted for Obama.
ACORN Eligible For $8.5 Billion After he reviewed the Obama stimulus bill and the proposed fiscal 2010 budget for the U.S. Department of Housing and Urban Development (HUD), Matthew Vadum told the Washington Examiner that ACORN and other left-wing advocacy groups could have a shot at pocketing up to $8.5 billion this year.

Here’s how he arrived at the $8.5 billion figure.

The $800 billion-plus stimulus bill, which is now formally known as the American Recovery and Reinvestment Act of 2009 or Public Law 111-5, originally set aside $5.2 billion that could flow directly or indirectly into the coffers of ACORN and its liberal friends.  It appears the $5.2 billion was chopped down to $3 billion in the version of the bill that Obama signed into law on February 17.  The $3 billion consists of $2 billion in funds set aside for the redevelopment of abandoned and foreclosed homes and$1 billion in Community Development Block Grants (CDBG).

CDBG is good old-fashioned graft. Local politicians of both parties love CDBG because it is flexible.  The program gives them wide latitude when spending grant money and allows local leaders to use federal dollars on local projects that they wouldn’t dream of spending their own local tax dollars on.  ACORN loves CDBG because it is adept at lobbying for CDBG funds.

In addition to the $3 billion available in the stimulus package, the proposed $47.5 billion HUD budget for the fiscal year that begins October 1 provides $1 billion for an affordable housing trust fund and $4.5 billion in CDBG funds that could be funneled to ACORN indirectly.

Of course ACORN won’t get it all, and given its history of electoral fraud and racketeering, it shouldn’t get a penny of federal money.

According to a Washington Examiner article, ACORN has taken in $53.6 million in federal funding since 1994.

Amazingly, ACORN spokesman Scott Levenson told reporter Kevin Mooney that his group has "received no significant federal funding."

This is the same ACORN that is continually in trouble for voter fraud.  This is the same ACORN that has pushed the subprime mortgage crisis that has destabilized our economy.  This is the same ACORN that, in the words of Barack Obama, "is going to shape our national agenda." (video)
Military Police at the Kentucky Derby

 

A Google News search does not produce a story or even a brief mention of the fact military police were on hand at the Kentucky Derby to keep the restless in line.  However, an Associated Press photograph, posted on the Yahoo! News website, shows two MPs in combat fatigues with side arms restraining a man at the derby.

The military has no business policing citizens except during extraordinarily exceptional times of national emergency by an executive order.  This is very disturbing and completely un-American.  Maybe even more disturbing is that no one seems to care how quietly and easily we have accepted the burgeoning police state.

The presence of uniformed and armed military police at the Kentucky Derby is part of an ongoing campaign to acclimate the populace to the presence of soldiers at public events.
Feds Investigate Edwards But Not Obama Why are federal authorities investigating the possible illegal use of campaign funds by John Edwards, but not investigating Barack Obama?

Texas Darling recently highlighted a story that the mainstream media has ignored, "A Fortune In Campaign Funds Used to Fight Eligibility Lawsuits," about the Obama campaign paying a million dollars in legal fees to fight lawsuits claiming that he is not a natural-born citizen

But John Edwards’s suspicious use of campaign funds is getting plenty of scrutiny.

Details here . . .
Obama Seizes Control Of GM FreeRepublic.com's Jim Robinson asks, which clause of the constitution authorizes Obama to take over a major corporation like General Motors?

•  He loans the company billions in taxpayer funds from the US Treasury.
•  He fires the CEO.
•  He takes over the board of directors.
•  He converts the debt to equity becoming the majority stockholder
•  He's now using the Securities and Exchange Commission and US Treasury (surely a major conflict of interest) to issue billions of shares of new public stock completely wiping out the current stockholders.

Is this even legal?

Is it constitutional?

General Motors Corp on Tuesday detailed plans to all but wipe out the holdings of remaining shareholders by issuing up to 60 billion new shares in a bid to pay off debt to the U.S. government, bondholders and the United Auto Workers union.

The unusual plan, which was detailed in a filing with U.S. securities regulators, would only need the approval of the U.S. Treasury to proceed since the U.S. government would be the majority shareholder of a new GM, the company said.

The flood of new stock issuance that could be unleashed has been widely expected by analysts who have long warned that GM's shares could be worthless whether the company restructures out of court or in bankruptcy.

The debt-for-equity exchanges detailed in the filing with the Securities and Exchange Commission would leave GM's stock investors with just 1 percent of the equity in a restructured automaker, ending a long run when the Dow component was seen as a bellwether for the strength of the broader U.S. economy.

GM shares closed on Tuesday at $1.85 on the New York Stock Exchange.  The stock would be worth just over 1 cent if the first phase of GM's restructuring moves forward as described.

Once GM has issued new shares to pay off its debt to the U.S. government, bondholders and its major union, it said it would then undertake a 1-for-100 reverse stock split.

Such a move would take the nominal value of the stock back to near where it had been before the flood of new shares.  But in the process, GM's existing shareholders would see their stake in the 100-year-old automaker all but wiped out.
A Bully In the White House Barack Obama's lawless conduct in connection with the Chrysler bankruptcy is sending shock waves through the business community.  It is important to understand what is happening here.  Many think that Obama is merely engaging in crony capitalism, favoring his political supporters (most notably the Auto Workers Union) at the expense of others.  That's true, of course, but it is much worse than that: Obama has tried to bully those who have not bought his favor -- Chrysler's non-TARP secured creditors -- into giving up their legal rights by threatening to use the powers of the White House to damage their businesses.  This sort of lawlessness is common in some of the more corrupt Third World countries, but it is brand new to the United States.

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