Obama Alienates Moderates With His Rush To Radical Left Wing Policies

Blindsided By Obama the Radical

By Andrea Tantaros
Republican Political Commentator

It has become jaw-droppingly clear that Barack Obama seeks to radically shift the alignment of this country — tying its citizens to their government in a dramatic leftward lunge the likes of which America has never seen before.

Obama deceitfully billed himself a pragmatist on the campaign trail. He was marketed as a “moderate.” After his November victory, pundits predicted he’d govern from the center. — They couldn’t have been more mistaken. Barack Obama is an extremist progressive who seeks to molest our fiscal values and pumps up our reliance on fruitless government programs.

Obama certainly will be successful in his mission for unparalleled historic recognition. But don’t expect his face on the dollar bill in the future.

On its face, this appears to confirm that Obama is a tax-and-spend liberal with a heavy socialist marbling. But it’s much more complex than that. Though Obama has proclaimed that “this has never been about me — it’s about you” on the stump, these very actions are all about him and his increasingly apparent obsession with exaltation and a delusional quest for historic grandeur.

The cult of personality created by the leftist trifecta of academia, media and the entertainment industry has overtaken Obama’s own self-image. And he believes the hype. Most politicians possess a swollen sense of self-worship. But Obama believes he is the superhero of fanatical Democratic extremism, the green lantern of progressive precept, the Will Smith of left-wing indoctrination.

Obama certainly will be successful in his mission for unparalleled historic recognition. But don’t expect his face on the dollar bill in the future. His notoriety will leave a legendary imprint for all the wrong reasons.

http://foxforum.blogs.foxnews.com/2009/03/02/tantaros_obama_radical/

Obama Signs Pork Spending Bill – President breaks campaign pledge.

Obama Will Sign Spending Bill Despite Earmarks

President will break a campaign pledge on Monday and sign a budget bill laden with millions in lawmakers’ pet projects, administration officials said.

WASHINGTON — President Barack Obama will break a campaign pledge and sign a budget bill laden with millions in lawmakers’ pet projects, administration officials said.

Administration budget chief Peter Orszag and White House chief of staff Rahm Emanuel both downplayed the $410 billion spending bill.

Taxpayers for Common Sense, a watchdog group, identified almost 8,600 specially sponsored projects totaling $7.7 billion.

It is far more than Obama promised as a candidate. He pledged to reject tailored budget requests that let lawmakers send money to their home states.

Rep. Eric Cantor, said Obama was failing on his promises.

“Listen, I mean, the president was elected by the people of this country to institute change in Washington and to finally demand a federal government that is accountable to the people,” he said. “The fact that there are 9,000 earmarks in this bill and the fact that the vetting process just doesn’t take place the way it should, we ought to stand up and draw the line right now and stop the waste.”

http://www.foxnews.com/politics/first100days/2009/03/01/budget-chief-obama-sign-spending/

AIG BAILOUT TOPS $180 BILLION. AIG Asset Sale Will Fall $100 Billion Short Of Repaying US Taxpayers

AIG suffers $62B loss, bailout revamped. TO BIG TO FAIL? AIG RESCUE PLAN CALLS FOR AIG TO BE SPLIT UP AND SOLD OFF – THERE IS NO PLAN FOR THE SURVIVAL OF AIG.

NEW YORK (CNNMoney.com) — Insurance giant American International Group reported a stunning $62 billion quarterly loss on Monday, while government officials unveiled their latest efforts to prevent the collapse of the firm.

AIG’s loss for the full year was even more dramatic — $99 billion. In 2007, the company reported a profit of $9.3 billion.

Key components of the plan included the government’s decision to commit another $30 billion to the firm in exchange for cumulative preferred stock.  http://money.cnn.com/2009/03/02/news/companies/aig/index.htm

In September 2008 the Government provided AIG with an $85 Billion Dollar “bridge loan”.  http://money.cnn.com/2008/09/16/news/companies/AIG/?postversion=2008091620

Additional loans to AIG brought that total to $150 Billion prior to the most recent $30 Billion increase. “The government has already lent A.I.G. $150 billion.”  http://dealbook.blogs.nytimes.com/2009/02/23/aig-to-seek-more-government-aid/?partner=rss&emc=rss 

The additional $30 Billion brings the total lent to AIG to $180 Billion.

AIG shares opened today (03/02/09) at 50 censt per share. (0.50)  technically now a penny stock. AIG stock has dropped 98% in the last 6 months.  http://dealbook.blogs.nytimes.com/2009/02/23/aig-to-seek-more-government-aid/?partner=rss&emc=rss

The Government now owns 80% of AIG.

AIG’s toxic assets have been removed from it balance sheet – to no avail. Using a combination of money from the federal bank bailout and the creation of new structures to store toxic assets like bundles of mortgage-backed securities off the firm’s balance sheet. That appears to have failed to stem the troubles at the company.” http://dealbook.blogs.nytimes.com/2009/02/23/aig-to-seek-more-government-aid/?partner=rss&emc=rss

 

A.I.G. has raced to sell off assets in hopes of paying back its government loans, but the poor market conditions have made it nearly impossible to sell units at the prices the company had sought. http://dealbook.blogs.nytimes.com/2009/02/23/aig-to-seek-more-government-aid/?partner=rss&emc=rss 

 

In January the Government appointed 3 Trustees to run AIG. “The Federal Reserve Board of New York has named 3 trustees to control the government’s 79.9% share of American International Group Inc., New York. The trustees are Jill Considine, a former New York banking commissioner; Chester B. Feldberg, former chairman of Barclays Americas; and Douglas L. Foshee, president and chief executive officer of El Paso Corp. The New York Fed said the appointments were made with the full support of the Treasury Department. The new trustees will control the taxpayers’ stake in AIG through the so-called “AIG Credit Facility Trust.” http://www.lifeandhealthinsurancenews.com/News/2009/1/Pages/Fed-Names-Trustees-For-AIG.aspx

Jill M. Considine, former Chairman & CEO of the Depository Trust & Clearing Corporation (DTCC) in New York, was Chairman of the Board of Directors of Fulcrum Group, a global administrator for hedge fund and alternative asset management industry. “Fulcrum is at a turning point in its evolution and is poised for further expansion in existing and new markets,” said Akshaya Bhargava, Fulcrum’s chief executive officer, in a press release. http://www.advancedtrading.com/showArticle.jhtml?articleID=208803159

While they won’t sit on AIG’s board, they will have all rights of AIG shareholders — including decisions about corporate governance to represent the equity stake. http://blogs.wsj.com/economics/2009/01/22/fed-releases-aig-trust-agreement/

The Obama Administration claims AIG is to big to fail, however, their is no plan for the survival of AIG. AIG is being split up and sold off to the highest bidder. The assets from those sales will come up at least $100 Billion short of repaying taxpayers.

In addition, there is no transparency concerning the sales of the assets and the Management of AIG is being undertaken by 3 Government appointed Trustees behind closed doors in Washington.

As their is no resue plan for AIG – it is to be split up and sold off in pieces – and as the value of the assets will fall $100 Billion short of repaying the US Government – the holders of AIG common stock will receive nothing. That explains why the stock is trading for 50 cents a share.

$100 Billion short of repaying the Government Loans. Don’t worry, it is only taxpayer money!

The assets AIG is attempting to sell is its American and Foreign Insurance units. The sale of these assets will only generate $17.4 Billion in revenue, leaving a $166.6 Billion shortfall on repaying the American Taxpayer. The proposed sales are hoped to generate the following revenue – 3 Japanese life insurance companies – $9.5 Billion; Chinese Insurance Companies $2.5 Billion; US Personal Insurance $2 Billion, US AIG Investments – $2 Billion; Phillipine Life Insurance $1 Billion, Canadian Insurance Comanies $400 Million – Total $17.4 Billion.   http://www.insurancejournal.com/news/national/2009/02/11/97799.htm , http://www.businessinsurance.com/cgi-bin/news.pl?id=15008 , http://economictimes.indiatimes.com/News/International_Business/AIG_aims_to_sell_Taiwan_insurance_unit_in_Q1/rssarticleshow/3694102.cms

http://www.abs-cbnnews.com/business/10/05/08/aig-sell-japanese-life-insurance-units , http://afp.google.com/article/ALeqM5i811JmiLi3Wn1qoxzuAHZYZ_qW0w , http://www.insurancetimes.co.uk/story.asp?storycode=376658 , http://www.ft.com/cms/s/0/6a0a9468-8d9a-11dd-83d5-0000779fd18c.html?nclick_check=1

 

Government Increases Stake in AIG – AIG Bailout Now Totals $180 Billion, AIG Assets At Least $100 Billion Short of Repaying Taxpayer Loans

AIG suffers $62B loss, bailout revamped.

NEW YORK (CNNMoney.com) — Insurance giant American International Group reported a stunning $62 billion quarterly loss on Monday, while government officials unveiled their latest efforts to prevent the collapse of the firm.

AIG’s loss for the full year was even more dramatic — $99 billion. In 2007, the company reported a profit of $9.3 billion.

Key components of the plan included the government’s decision to commit another $30 billion to the firm in exchange for cumulative preferred stock.  http://money.cnn.com/2009/03/02/news/companies/aig/index.htm

In September 2008 the Government provided AIG with an $85 Billion Dollar “bridge loan”.  http://money.cnn.com/2008/09/16/news/companies/AIG/?postversion=2008091620

Additional loans to AIG brought that total to $150 Billion prior to the most recent $30 Billion increase. “The government has already lent A.I.G. $150 billion.”  http://dealbook.blogs.nytimes.com/2009/02/23/aig-to-seek-more-government-aid/?partner=rss&emc=rss 

The additional $30 Billion brings the total lent to AIG to $180 Billion.

AIG shares opened today (03/02/09) at 50 censt per share. (0.50)  technically now a penny stock. AIG stock has dropped 98% in the last 6 months.  http://dealbook.blogs.nytimes.com/2009/02/23/aig-to-seek-more-government-aid/?partner=rss&emc=rss

The Government now owns 80% of AIG.

AIG’s toxic assets have been removed from it balance sheet – to no avail. Using a combination of money from the federal bank bailout and the creation of new structures to store toxic assets like bundles of mortgage-backed securities off the firm’s balance sheet. That appears to have failed to stem the troubles at the company.” http://dealbook.blogs.nytimes.com/2009/02/23/aig-to-seek-more-government-aid/?partner=rss&emc=rss

A.I.G. has raced to sell off assets in hopes of paying back its government loans, but the poor market conditions have made it nearly impossible to sell units at the prices the company had sought. http://dealbook.blogs.nytimes.com/2009/02/23/aig-to-seek-more-government-aid/?partner=rss&emc=rss

The assets AIG is attempting to sell is its American and Foreign Insurance units. The sale of these assets will only generate $17.4 Billion in revenue, leaving a $166.6 Billion shortfall on repaying the American Taxpayer. The proposed sales are hoped to generate the following revenue – 3 Japanese life insurance companies – $9.5 Billion; Chinese Insurance Companies $2.5 Billion; US Personal Insurance $2 Billion, US AIG Investments – $2 Billion; Phillipine Life Insurance $1 Billion, Canadian Insurance Comanies $400 Million – Total $17.4 Billion.   http://www.insurancejournal.com/news/national/2009/02/11/97799.htm , http://www.businessinsurance.com/cgi-bin/news.pl?id=15008 , http://economictimes.indiatimes.com/News/International_Business/AIG_aims_to_sell_Taiwan_insurance_unit_in_Q1/rssarticleshow/3694102.cms

http://www.abs-cbnnews.com/business/10/05/08/aig-sell-japanese-life-insurance-units , http://afp.google.com/article/ALeqM5i811JmiLi3Wn1qoxzuAHZYZ_qW0w , http://www.insurancetimes.co.uk/story.asp?storycode=376658 , http://www.ft.com/cms/s/0/6a0a9468-8d9a-11dd-83d5-0000779fd18c.html?nclick_check=1

In January the Government appointed 3 Trustees to run AIG. “The Federal Reserve Board of New York has named 3 trustees to control the government’s 79.9% share of American International Group Inc., New York. The trustees are Jill Considine, a former New York banking commissioner; Chester B. Feldberg, former chairman of Barclays Americas; and Douglas L. Foshee, president and chief executive officer of El Paso Corp. The New York Fed said the appointments were made with the full support of the Treasury Department. The new trustees will control the taxpayers’ stake in AIG through the so-called “AIG Credit Facility Trust.” http://www.lifeandhealthinsurancenews.com/News/2009/1/Pages/Fed-Names-Trustees-For-AIG.aspx

Jill M. Considine, former Chairman & CEO of the Depository Trust & Clearing Corporation (DTCC) in New York, was Chairman of the Board of Directors of Fulcrum Group, a global administrator for hedge fund and alternative asset management industry. “Fulcrum is at a turning point in its evolution and is poised for further expansion in existing and new markets,” said Akshaya Bhargava, Fulcrum’s chief executive officer, in a press release. http://www.advancedtrading.com/showArticle.jhtml?articleID=208803159

While they won’t sit on AIG’s board, they will have all rights of AIG shareholders — including decisions about corporate governance to represent the equity stake. http://blogs.wsj.com/economics/2009/01/22/fed-releases-aig-trust-agreement/

The Obama Administration claims AIG is to big to fail, however, their is no plan for the survival of AIG. AIG is being split up and sold off to the highest bidder. The assets from those sales will come up at least $100 Billion short of repaying taxpayers.

In addition, there is no transparency concerning the sales of the assets and the Management of AIG is being undertaken by 3 Government appointed Trustees behind closed doors in Washington.

Don’t worry, it is only taxpayer money!

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