Press Releases

 

Thursday
Apr292010

Daily News from the Veterans Today Network 

Bob Higgins
Ghandi and Martin Luther King Live in Modern Non-Violent Civil Rights Protest
U.S. taxpayers continue to invest their hard earned 10 billion dollars a year in direct aid and defense contracts for Holy Land peace yet our investment continues to be squandered on bulldozers that knock down homes of the indigenous and build apartheid walls to separate causing anger and harm in the theaters of war.

Fresh from Jerusalem, please watch this important revealing video of an American made-bulldozer driven by military state soldiers get stopped in their tracks by brave indigenous peoples who would make Mahatma Ghandi and Martin Luther King proud. Is this what we are investing in? Is this what Americans stand for?  How did we get on the bulldozer side of justice?  Is this how we want our money spent? You decide!
Watch Video >>

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Wednesday
Apr282010

Commonsense - NH Senate Committee Considers Testimony on Bill to Study Drug Policies 

After rejecting a marijuana decriminalization bill, senators contemplate proposal to study effects of current state and federal laws

CONCORD, NEW HAMPSHIRE – Today, one week after the Senate voted to defeat a marijuana decriminalization bill, the Senate Judiciary Committee considered public testimony on a bill that would permit a deeper study of drug policy questions by the New Hampshire legislature.  HB 1373, which passed the House in an uncontested voice vote Feb. 17, would create a study committee of three House members and two senators “to study the effects of current state and federal laws on illegal drugs and the possession and use of such drugs.”

Advocates cited growing support for marijuana policy reforms as a reason the bill should pass.  Matt Simon, executive director for the NH Coalition for Common Sense Marijuana Policy, touted the bill as an opportunity for the legislature to learn about successful reforms in other states and countries.  “Today, there is an enormous amount of data out there that suggests we need to reevaluate our current policies,” he said.  

“New Hampshire legislators have considered some important criminal justice and marijuana policy reforms this year, but we can’t stop there,” said Rep. Joel Winters (D-Manchester), prime sponsor of the bill. “As lawmakers, if we want to create smart, effective drug policies, we must not be afraid to ask the right questions, like who is being arrested and prosecuted, for what, and why. HB 1373 will help us get answers to those questions, and ultimately lead to better policies that will benefit our state’s residents.”

 



Wednesday
Apr282010

NetRight Daily: Financial Takeover Bill Stopped For Second Straight Day! 

The Financial Takeover Charade Continues - For the second day in a row, a bi-partisan coalition has stopped the Dodd Financial Takeover Bill from progressing in the Senate. The vote was 57-41, with everyone voting exactly as they did yesterday.

Republicans Need Firm Preconditions for Real Reform - Yesterday, Senate Republicans took a firm stand against the government takeover of the nation's financial sector, as the Senate failed to reach the 60 votes necessary to proceed to the bill proposed by Senator Chris Dodd (D-CT). Even Senator Ben Nelson (D-NE) voted against proceeding to the bill, demonstrating bipartisan opposition to its key provisions, provisions that endangered politicians ultimately do not want to be associated with.

Republicans Block Financial Takeover Bill--For the Meantime - Senate Republicans blocked the Chris Dodd Financial Takeover Bill in the U.S. Senate. In a 57-41 vote with two abstaining, the Financial Takeover Bill has been stalled for the time being.

Tales From the Spin Zone - How the sausage knows as the Kerry-Graham-Lieberman was made.

Salt: The New Tobacco? - Debate strategists typically advise against slippery-slope arguments — assigning far-off, outrageous conclusions to your opposition only dilutes the urgency of the moment. Still, one cannot resist guessing how far beyond its stated goal the creeping hand of the Nanny State will reach. Rule of thumb: statists always want more than they're asking for. For instance, once federal and local governments declared war on Big Tobacco, even the most dispassionate observer could tell that Oreos, Twinkies and Big Macs were not far behind.

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Wednesday
Apr282010

ALG Conservative Action Project Memo: No More Bailouts for Wall Street 

William Wilson, President, Americans for Limited Government

James C. Miller III, former Reagan Budget Director

Amy Kremer, Director Grassroots & Coalitions, TeaPartyExpress.org

Colin Hanna, President, Let Freedom Ring

Andrea Lafferty, Executive Director, Traditional Values Coalition

Richard Viguerie, Chairman, ConservativeHQ.com

Mario H. Lopez, President, Hispanic Leadership Fund

Gene Mills, Executive Director, Louisiana Family Forum

J. Kenneth Blackwell, former Treasurer, State of Ohio

Susan Carleson, Chairman & CEO, American Civil Rights Union

Grover Norquist, President, Americans for Tax Reform

Jennifer Hulsey, Co-Founder, American Grassroots Coalition

Gary Bauer, President, American Values

Jim Martin, Chairman, 60 Plus Association

Tony Perkins, President, Family Research Council

Brent Bozell, President, Media Research Center

Mathew D. Staver, Founder & Chairman, Liberty Counsel

Alfred Regnery, Publisher, American Spectator

Kay Daly, President, Coalition for a Fair Judiciary

David McIntosh, former Member of Congress, Indiana

Wendy Wright, President, Concerned Women for America

Tom Winter, Editor in Chief, Human Events

Rev. Louis P. Sheldon, Chairman, Traditional Values Coalition

T. Kenneth Cribb, former Chief Domestic Adviser to President Reagan

MEMO FOR THE MOVEMENT


NO MORE BAILOUTS FOR WALL STREET

RE: Senator Dodd's Financial "Bailout" Bill is bad for the American taxpayer and particularly for entrepreneurs.

 

"The Dodd Bill has unlimited executive bailout authority. That's something Wall Street desperately wants but doesn't dare ask for."

-- Democratic Congressman Brad Sherman of California

 

ACTION: We urge you to speak out in opposition to more bailouts and government spending. We need regulation that will not harm the economy and will not institutionalize a bailout culture. Don't let the liberal Democrats tell conservatives that they are "pro-Wall Street" when concerns lie with the American economy as a whole.

 

ISSUE-IN-BRIEF: The Dodd Bill does not end bailouts. What it does do is restrict credit, which will have negative effects on the economy as a whole and particularly on entrepreneurs. Some aspects of the bill have little to do with financial regulation and much to do with supporting special interests.

 

The Slush Fund

  • The bill gives the administration power to take over companies they believe to be risky. It has a $50 billion fund for this purpose, meaning families on Main Street would be paying to bail out firms on Wall Street.

 

  • This $50 billion fund would in fact be a tax on ordinary Americans, as taxes on banks would be passed on in costs to American depositors and borrowers. Consumers, including families, small businesses and family farms, would pay that $50 billion through higher costs for credit products.

 

  • This slush fund encourages irresponsible behavior because the creditors know that they will be bailed out if they lose on risky bets.

 

The Fox and the Hen House

  • The bill would authorize the Federal Reserve to define what a "nonbank financial company" is and regulate it.

 

  • The bill creates a "Bureau of Consumer Financial Protection", which sounds nice, but the agency has broad power to limit the financial products available to consumers.

 

  • Eric Stein, former leader of the embattled Center for Responsible Lending (CRL), now sits at the Treasury Department and would likely be responsible for shaping this Consumer Financial Protection Agency. The CRL was funded by John Paulson so that it allegedly would harass banks into making loans to unqualified buyers while Paulson shorted sub-prime mortgages for Goldman Sachs. Big Government described Stein's potential regulating on behalf of consumers as a "fox" guarding the "hen house."

 

  • Polling data indicate that only 14 percent of Americans support the creation of a financial consumer protection agency, while 65 percent oppose.

 

  • The bill allows a two-thirds vote of the Financial Stability Oversight Council to say that any financial company can come under its oversight and authorizes the FDIC and Treasury to treat the firm's shareholders and creditors as they choose, with little regard to existing laws.

 

  • Treasury and FDIC are given authority to grant an unlimited amount of loan guarantees to risky firms, without congressional approval.

 

  • The bill gives unions a say on how much pay executives make and gives them a brand-new agency funded directly by the Fed.

 

  • The bill creates "proxy access" whereby a corporation's board of directors are dictated by a majority vote, rather than plurality, which gives incentives for corporate directions to cut deals with unions to avoid a fight.


Killing the Economy

  • The Dodd Bill would require start-ups to file with the SEC before seeking investments, which would cause delays while the start-up waits for bureaucrats to review the requests.  So if you have a start-up idea, you have to hope that some foreign firm in a less-regulated country will not beat you to the market during that time the government approves your investments.

 

  • The new regulation would also make it harder to find investors. Accredited investors  would be limited to those with assets of over $2.5 million, previously only $1 million net worth was required,  or a personal income of $ 450,000 (up from $250,000). This extra, and unnecessary, regulation makes it harder for close friends and family members to invest in new ideas.

 

      Silent on Fannie Mae and Freddie Mac

  • The bill contains no reform of Fannie Mae or Freddie Mac—the giant mortgage entities—which for practical purposes are now wholly controlled by the federal government.

 

 

FOR ADDITIONAL INFORMATION ON HOW THE DODD BILL HURTS THE AMERICAN TAXPAYER WHILE REWARDING WALL STREET, PLEASE VISIT THESE WEBSITES:

http://www.cato.org/pub_display.php?pub_id=11707

http://www.aei.org/article/101944

http://www.washingtonexaminer.com/politics/Gangster-Government-becomes-a-long-running-series-91656284.html

http://www.heritage.org/Research/Commentary/2010/04/Obama-Now-Pushing-Sneaky-Wall-Street-Bailout

http://cei.org/articles/2010/03/16/dodd%E2%80%99s-main-street-punishment-bill

http://biggovernment.com/capitolconfidential/2010/04/16/the-democrats-orwellian-attempt-to-bully-republicans-and-takeover-the-rest-of-the-economy/#more-107718

http://www.huffingtonpost.com/rick-tumlinson/dodds-bill-is-an-angel-ki_b_526040.html

http://online.wsj.com/article/SB10001424052748704133804575198272155110934.html?mod=WSJ_Opinion_BelowLEFTSecond

http://corner.nationalreview.com/post/?q=Y2Q1ZGZiYjIwMjNjYjMyYmQ5MzliMWNiZGVhYTc3YTA=

http://biggovernment.com/libertychick/2010/04/16/cfpa-czar-or-fox-in-the-hen-house-you-decide/

 

 

4/27/10

 

(All organizations listed are for identification purposes only)

Wednesday
Apr282010

ALG Urges Senate Republicans to Outline "Firm Preconditions for Real Financial Reform" 

"[W]hat's not in the Dodd bill demonstrates that there is little to no will on the part of Senate Democrats to even deal honestly with how the government caused the financial crisis to occur.  Republicans can wield the upper hand in this debate by holding the majority to account for covering up for the real villain of the crisis: government."—Bill Wilson, President of ALG.

April 27th, 2010, Fairfax, VA—Americans for Limited Government (ALG) President Bill Wilson today praised Senate Republicans for blocking the Dodd financial takeover bill yesterday, and said "now is the time for Republicans to establish firm preconditions for real financial reform by reining in the government-run agencies that contributed to the crisis in the first place."

Wilson said he recognized that while agencies will be resistant to reform, that "it is the role of legislators and their sworn duty to rein in the excesses of government when failures of this magnitude occur.  The Dodd bill is just a whitewash."

"Legislation that does not address the government causes of the crisis is a sham," Wilson declared.

Wilson said that "What's in the bill is bad enough.  It will give the government unlimited authority to seize companies, tax the citizenry and spend money without any vote in Congress.  And shareholders whose assets are liquidated will be barred from challenging the theft in a court of law.  All of that needs to go."

Wilson continued, "But what's not in the Dodd bill demonstrates that there is little to no will on the part of Senate Democrats to even deal honestly with how the government caused the financial crisis to occur.  Republicans can wield the upper hand in this debate by holding the majority to account for covering up for the real villain of the crisis: government."

In an ALG editorial published today, the group calls on the Senate to address and reform five government agencies in any legislation debated: Fannie Mae, Freddie Mac, the Federal Reserve, the Federal Housing Administration, and the Department of Health and Human Services.

The editorial cites research by former chief credit officer of Fannie Mae, Ed Pinto, demonstrating that Fannie Mae and Freddie Mac weakened mortgage underwriting standards and mislabeled high-risk mortgage-backed securities, defrauding investors; that the Federal Housing Administration (FHA) lowered down payments on mortgages; and that the Department of Housing and Urban Development's (HUD) Community Reinvestment Act  regulations reduced lending standards and forced banks to give  loans to lower-income Americans that could not be repaid.

That research was summarized in part in a letter Wilson sent yesterday to the U.S. Senate urging members not to proceed to debate, and to instead "to demand a completely new bill that actually addresses the root, government causes of the crisis" that Pinto outlined.

The ALG editorial also calls upon Senate Republicans to bring transparency via the Government Accountability Office to "the Federal Reserve whose ultra-easy money policies and lower-than-justified interest rates that allowed the credit bubble to inflate to catastrophic proportions in the first place."

According to research by Stanford economics professor John Taylor, "the Fed's target for the federal-funds interest rate was well below what the Taylor rule would call for in 2002-2005. By this measure the interest rate was too low for too long, reducing borrowing costs and accelerating the housing boom."

Wilson concluded that "Senate Republicans have an opportunity to give the American people a detailed account of the government policies that caused the crisis that must be repealed, and the responsible agencies that must be reformed.  If they truly want to bring an end to 'too big to fail' they will insist that any legislation must rein in the excessive risk-taking that was mandated by government policy."

Attachments:

Letter to the U.S. Senate, ALG President Bill Wilson, April 26th, 2010.

"'Down a Rabbit Hole:' The Threat Posed by the Dodd Bill to the Private Sector," April 22nd, 2010, Americans for Limited Government.