People who say it cannot be done should not interrupt those who are doing it. Welcome to From On High.

Thursday, December 22, 2011

Obama Leaves His Mark On Giles County

(Where median household income is $20,000 less than the state average.)

Goofballs working at prestigious universities across the land concoct a preposterous theory - unsupported by facts or rational thought - that the planet is warming as a result of human activity, and guess the result of their nefariousness?

What did the poor people of Glen Lyn do to deserve this?
Power plant closures to cost US towns jobs, taxes
Associated Press

For more than 90 years, the coal-fired power plant in Glen Lyn, Va., has been churning out electricity and contributing to local prosperity. Of late, it has generated nearly a quarter of the revenue for the $1 million budget of the town.

Yet when the plant ultimately shuts down to comply with new federal air pollution regulations by the end of 2014, says Town Manager Howard Spencer, so too might the community of 200.

"If the town lost all of that revenue," he says, "we would struggle to even continue to be incorporated."

Giles County, where American Electric Power's Glen Lyn plant is located, and where 44 jobs are on the line.

County Administrator Chris McKlarney worries about the $600,000 tax-revenue hit his $40 million budget will take. But that's just one concern involving a plant and workers whose community contribution is "hard to quantify."

"They've done so much donation-wise for local causes ... And they're really good people working there," he said. "They're coaches in Little League sports, involved in the Parent-Teacher Organization — you lose those kind of people, it's tough."

And they're good jobs — stable, well-paying positions with good benefits in places where such things can be hard to find. [link]
Jobs, schmobs.

What are job losses in hilljack Glen Lyn, Virginia compared to the possibility that lucrative donations to Democrats' reelection coffers from America's powerful environmental groups might dry up.

You folks in Giles are going on food stamps?

Consider it ... taking one for the greater good.

So many Democrats in need ...

You're 'Going Green' Whether You Like It Or Not

How long you'll be able to afford to is not a small matter.

Get this:

Chevy Volt Costing Taxpayers Up to $250,000 Per Vehicle

Even worse?

Nobody wants the damn thing.

May God have mercy.

* By the way, don't blame GM for this.  If Obama came to you and told you he was going to give you $3 billion to develop and market feces-in-a-boot, you'd do it, with a smile on your face.  Sales?  Who cares?  You don't need no stinking sales.

GM is smiling all the way to the bank.

She Must Think George Bush Is Still In Office

Because it wasn't that long ago ...

Duh… Pelosi Calls For Tax Cut Extensions For 160,000,000 Working Americans – Too Bad There Are Only 140,500,000 Americans Working Today

The missing 19,500,000?

Well, it's fair to say that those without a paycheck won't be looking for a payroll tax cut.

Iowa Could Prove Its Irrelevancy

If it goes ahead and gives a win in its upcoming Republican caucus to the only man in its political party to hate his country as much as Barack Obama does.


Dorothy Rabinowitz makes the compelling case:

It seemed improbable that the best-known American propagandist for our enemies could be near the top of the pack in the Iowa contest, but there it is.

To the people of Iowa: Don't bring shame upon us. Let Ron Paul complain about how bad the USA is from his wheelchair in that retirement home in Galveston.  And let's get to fixing this country.

Barney Frank Had Some Help

The colossal economic plunge that America took in 2007, the wrenching effects from which we still suffer grievously, can be traced to a few men and a small handful of programs they launched in an effort to bring home loans to people who couldn't afford them.  Bubble created, crater resulted.

It's nice, as the dust clears, to give names to those who were responsible for this mess.  Brass plates with their names inscribed on them affixed to prison cells await.

Those names?

At the top of the list, Barney Frank, who led the Congressional effort to lay waste to traditional bank lending practices.  Followed by these guys:
What Fannie and Freddie Knew
Wall Street Journal

Democrats have spent years arguing that private lenders created the housing boom and bust, and that Fannie Mae and Freddie Mac merely came along for the ride. This was always a politically convenient fiction, and now thanks to the unlikely source of the Securities and Exchange Commission we have a trail of evidence showing how the failed mortgage giants turbocharged the crisis.

That's the story revealed Friday by the SEC's civil lawsuits against six former Fannie and Freddie executives, including a pair of CEOs. The SEC says the companies defrauded investors because they "knew and approved of misleading statements" about Fan and Fred's exposure to subprime loans, and it chronicles their push to expand the business.

The executives deny the charges, and we hope they don't settle. The case deserves to play out in court, so Americans can see in detail how Fan and Fred were central to the bubble. The lawsuits themselves, combined with information admitted as true by Fan and Fred in civil nonprosecution agreements with the SEC, are certainly illuminating.

The Beltway story of the crisis claims that Congress's affordable housing mandates had nothing to do with it. But the SEC's lawsuit shows that Fannie degraded its underwriting standards to increase its market share in subprime loans.

Mr. [Angelo Mozilo of Countrywide Home Loans] and Fannie essentially were business partners in the subprime business. Countrywide found the customers, while Fannie provided the taxpayer-backed capital. And the rest of the industry followed.

By December 31, 2006, Fannie owned or securitized some $43.3 billion of these loans, which, according to the SEC, had "higher average serious delinquency rates, higher credit losses, and lower average credit scores" than Fannie's disclosed subprime loans. By June 30, 2008, Fannie had $60 billion in EA loans and $41.7 billion in another risky program called "My Community Mortgage," but it only publicly reported an $8 billion exposure.

CEO Daniel Mudd testified that "we see it as part of our mission and our charter to make safe mortgages available to people who don't have perfect credit," adding that Fannie's subprime exposure was "relatively minimal." The Freddie record is similarly incriminating.

Far from being peripheral to the housing crisis, the SEC lawsuit shows that Fan and Fred were at the very heart of it. Private lenders made many mistakes, but they could never have done as much harm if Fan and Fred weren't providing tens of billions in taxpayer-subsidized liquidity to lend on easy terms to borrowers who couldn't pay it back.

Congress [jf: this is where Barney Frank comes in] created the two mortgage giants as well as their "affordable housing" mandates, and neither the financial system nor taxpayers will be safe until Congress shrinks the toxic twins and ultimately puts them out of business. [link]
Fraud on this scale calls for prison time. It probably won't come about, what with the guilty parties having friends in high places. But striped pajamas and barbed wire are too good for these miscreants.

America has gone through an horrific crisis. A crisis brought about by do-gooders in leadership roles in government and in quasi-government organizations like Fannie and Freddie.

Let's send them to the Big House, learn from their mistakes, and vow to never let them happen again.

Saying What Everyone Knows But No One Will Admit

Paula admonished me a long time ago about bring up Michelle Obama's behind.

So I'll let Congressman Jim Sensenbrenner do it:

She lectures us on eating right while she has a large posterior herself.”

The size of her buttocks isn't the issue. The fact that this woman makes such an issue of everyone else's is what chaps my ... behind.

Imagine Lindsay Lohan lecturing us on the value of self-control.

Kim Kardashian on the joys of celibacy.

Bernie Madoff, fiduciary responsibilities.

Michelle Obama telling the rest of us we need to slim down?

May she read and understand Luke 4:23.

He Kissed His Butt In Life

He kisses his butt in death.

Former President Jimmy Carter has sent North Korea a message of condolence over the death of [one of the world's most ruthless dictators] Kim Jong-il and ...

How shameful.  Carter continues to embarrass our country.

The Border Fence Was Always a Joke

George W. Bush made a mockery of our demand that the border with Mexico be sealed (remember his initiative that called for the stationing of National Guard troops in Texas, without ammunition or reason for being there? With no ammunition, no authority, and orders not to start any trouble?).

Obama continues the burlesque act:

DHS Spent $9.8M to Store $44M of Steel It Bought But Did Not Use to Build Mexico Border Fence

Congress appropriated the funds. The Department of Homeland Security followed orders and made the purchase. And the product rusts away in fields in Texas and California.

And nobody in government cares.

For the love of God.