He writes in last Sunday’s NJ:

Angry? You bet I am. Even more angry than I was back in 2009 when, as a U.S. senator, I saw shocking paper trails that I believed would have convinced juries to convict some crooked CEOs if there were aggressive efforts to prosecute them. That’s why I worked hard for and co-sponsored the Fraud Enforcement and Recovery Act, which in May 2009, gave an extra $55 million to the Justice Department over the next two years – over and above the Department’s normal appropriation. This money was specifically granted to bring to justice top executives who had engaged in fraud leading up to the financial meltdown…..

….I draw two depressing conclusions. First, without a real threat of criminal prosecution, there is no deterrent effect on anyone who commits financial fraud in the future. Second, the lack of action on mortgage fraud takes us a perilous step closer to a two-tiered system of criminal justice – one for the poor and one for the rich. That’s something we cannot allow to happen.

Now never mind that this all started with the feds blackmailing banks with the CRA laws, which led the way to the Wall Street abuses.

Did he really expect that they would use this law for anything other than another opportunity to shake down the private sector like they use the environmental laws?  Lets see, collect $Billions just by threatening to prosecute or spend $100s of Millions actually prosecuting and imprisoning them.  Just catch and release so they can collect more money next time.  They punish no one but the stockholders who have been repaid tenfold by the QE stimulus printing $85 Billion per month, inflating the stockmarket at the expense of the rest of us with devalued currency and higher food and gas prices.

And where do these billions go?  If just one percent gets lost in the seat cushions, it is enough for lots of people to become millionaires (ten per $Billion), but I am sure that is not happening.  Remember, government waste is not when they accidentally set fire to the money, someone gets every dime of it.

I really think Senator Kaufman is in earnest on this; that he really believed these were good honest people who would try to catch the bad guys.  Isn’t that cute?

Prosecuting mortgage fraud not a priority.

Unemployment Insurance Bill

Has Delaware been making payments to the feds on the money it has borrowed to pay unemployment?  Did you know that some of this money is borrowed?  Check the attached article from 2011.

I guess that would depend on whether President Obama and the Federal Reserve decide that we should have one. Tax money will continue to come in ($220 Billion or so) and can be prioritized to pay the debt first and avoid a default. That is about $20 Billion per month plus principal on whatever notes and bills are maturing at that time.
The 60% of the debt that is held by entities outside the federal government would certainly have to be paid on first or we would be in default. I would think that the payments on the money borrowed from other government accounts like Social Security and that held by the Federal Reserve could be delayed until a deal can be reached. But that will require compromise by the House, Senate and President Obama. Yes, he will have to play too.
But if the president wants to default, we can.

As far as I understand, the House has sent several different bills to the Senate, each one with more compromise.
I believe that the last proposal sent over would fund the government, including ObamaCare, for the next year. People can sign up, get coverage, get subsidies and see doctors. The only thing that they change in the law is that if you choose not to buy a policy, the IRS fines for not purchasing one, are waived for a year. This is what, “Delaying the Mandate” refers to. Buy one if you want to; but if you choose to wait and see how it works, you get a one year exemption from punishment just like companies were given by the president. Does not seem unreasonable to me.
They also propose to remove the 71% subsidy for congress that was not part of the law but that the president just added in.  In order not to look like hypocrites Congress included in the law that was passed that they and their staffers had to sign up to get their insurance through the exchanges. Basically that their employer, the federal government, was cancelling their plan. They then would be required to pay for their policies and get whatever subsidy their income qualified them for like everyone else. With the new law, the cost of employer provided plans are going through the roof.  The law says that if an employer were to choose not to buy insurance for their employees then they would be fined. The employer might, in order to keep his employees, want to subsidize what they had to pay on the exchanges but the law makes that illegal. The current House proposal wants the 71% subsidy taken back so that Congress is in the same boat as everyone else. Seems only fair.
If all this is true, and I think that it is, why on earth would Harry Reid and President Obama want to keep the government shut down over these small changes; harming service people, war veterans, vacationers, kids with cancer and many more. Also, why are the Senate and the president getting a pass on this in the press?
Am I missing something here or am I completely wrong about the current proposal?

Here you go, some of that nice European model health care that we are emulating.

This sounds like the best way for our new death panels to get control of that “27% of medical costs being spent on the last year of life” problem; just make the previous year your last year.  Problem solved!

Fearful elderly people carry ‘anti-euthanasia cards’ – Telegraph.

I am, of course, shocked! NOT!!

I wonder if any analyst would decide to (or already has) help out their favorite politician in an election.

NSA: Analysts spied on love interests – The Hill’s Hillicon Valley.

The prevaricator in chief said this regarding his demand that the House vote to increase the deficit:
“House Republicans will have to decide whether to join the Senate and keep the government open, or shut it down just because they can’t get their way on an issue that has nothing to do with the deficit.”


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