Obama Playing Godfather Again

Here's an excellent video explaining the credit crisis.  It just misses a lot of the government's intrusion into the housing market, especially the existence of Fannie Mae and Freddie Mac.

 

President Obama played the Godfather again with the owners of Chrysler's secured debt, threatening to destroy their reputations if they refused to agree with the administration's bankruptcy plan for the company.  Apparently the UAW's majority stake in Chrysler doesn't come with much power, so the company might become profitable after all.  Obama also plans on using Chrysler's bankruptcy to push on Government Motors.

 

Here is something that should scare you no matter who the President was:  Obama has a level of power that has not been seen in decades.

 

Obama wants to shrink the financial sector.  This shouldn't be the job of the President of the United States.

 

Liberals are getting away from talking about "global warming" because it doesn't work as well as a talking point to socialize the economy.

 

Obama wants to crack down on offshore tax havens.  Here are some of the details.  At least Obama will be able to claim 800 more jobs "created or saved" when they hire 800 new tax regulators.

 

The federal government will spend $400,000 in a study on drinking and sex habits of homosexuals in Argentina.

 

Sen. Jim DeMint (R-SC) wants to rebuild the Republican Party based on a single principle:  Freedom.  That's a good one.  Meanwhile, Jeb Bush wants to move away from Ronald Reagan.

 

"Benedict" Arlen Specter says that the Republican Party has moved "far to the right" since the Reagan days.  If that was true, then Obama wouldn't be President today.  He also hoped that his defection would be a "wake-up call" to the Republicans.

 

A plurality of American voters believes that Obama's pick to replace David Souter on the Supreme Court will be too liberal.  This is an opportunity for the Republicans to distinguish themselves.

 

Rep. Mark Kirk says that China has "cancelled America's credit card" due to our debt levels.  Wall Street is also getting worried about our levels of debt.  This is the biggest threat to the United States.

 

The federal government is already working on the next housing bust.

 

Thanks to the Canadian media, here are things that you don't read about Barack Obama.

 

State Sen. David Shafer will not run for Lieutenant Governor after all, leaving the road wide open for Casey Cagle's re-election.

 

Government schools across the state have been passing kids through despite failing standardized tests and not having necessary knowledge.  The result has been about 1 in every 4 first year college students needing to take remedial classes to learn what they should have learned in high school.