2Bigger2Fail TARP or Lottabull

Once we agree 2big2fail was a giant mistake, we must realize the culprits Merrill Lynch and Countrywide would only further corrupt an equally corrupt BoA.
Same for JP Morgan Chase who acquired Bear Sterns with conjured up instruments through funds provided by Maiden Lane LLC. Courtesy of Federal Reserve Bank of New York.
Lehman Brothers who did fall into bankruptcy was purchased within 24 hours by Barclay's of London. Who recently are embroiled in the LIBOR scandal now rocking Europe's interest rate manipulation.
Upon the advice of Ben Bernanke, Hank Paulson and Tim Geithner we kept AIG alive as a zombie instrument to funnel cash to all the 2big2fail banks, was equally corrupt. Foreign Banks also benefited from conjured up instrument from Maiden Lane LLC and AIG with free money!
If we can agree these decisions are wrong leading America into spiraling debts. We should realize making 2big2fail into 2Bigger2Fail was a larger mistake. Realizing the logic of this decision was creation of a bigger problem from the first. The sum of the parts now greater than the Hole Logic. The Hole Logic seems to expose the Dow Jones as vastly over valued at even 10,000 points on Wall Street. The progress on Main Street being a much better barometer of the current economic Hole. This would no doubt bring clarity to the imaginary jobless recovery reported from Washington. Those of us on Main Street would naturally prefer a market less recovery and a job across the street.

Conversely, if we agree these were solid ideas and productive it would not explain the embarrassing 2012 scandal of JP Morgan Chase or Barclay's LIBOR interest rate manipulation. Indicating more Enron business models forthcoming.....

Are Traffic Fatalities on the Rise?

Written 7/28/12
Author: Mitoosense
Copyright submission 001

Some areas of the US are reporting an unexplainable rise in highway traffic deaths on America's super highways. After decades of declining death rates the new figures are disconcerting. There were an estimated 7,630 deaths reported nationwide in motor vehicles in the first quarter of 2012 up 13.5% from 6720 deaths during the same quarter 2011. Some people point to changes in speed limits that might be the cause. Others point to warmer weather or road construction. It will take years of analysis to accurately determine the sudden rise.

One might suggest the 2009 Supplemental Appropriations Act might be the cause. You may not remember the federal legislation under that name. The spin in the news was cash for junk cars or C.A.R.S. Car Allowance Rebate System 2009. (118) (1)

Everyone remembers cash for junk cars in 2009. The idea sprung in Congress from the 750 billion dollar Stimulus and Recovery Act. The idea was to accomplish several needs at once using the same funds. Effectively killing several birds with one stone. First was to increase demand in the dismal auto production numbers putting people back to work. The second was cleaner environment demanding new cars have higher fuel economy and systematic junk removal of gas guzzling cars from our highways. Presumably safer now for all Americans. Cleaner air from less gas burned, energy independence from foreign oil and junk removal for a cleaner landscape. The Cash For Junk Cars was successful in nearly 700,000 auto junk removal units at a cost to the taxpayers of about 3 Billion dollars US. (241) (6)

In the heart land State of Indiana traffic fatalities are up 24 deaths from the same period a year ago. The Indianapolis Police Dept. aided by the Indiana State Troopers are cracking down on speeders in Indianapolis. Indianapolis is notorious for its lead footed drivers. Home to the Indianapolis Motor Speedway, Indianapolis Raceway Park and Nascar's Indianapolis Brickyard 400.

Indianapolis is a good city to sample changes in trends. Indianapolis with a large metropolitan area in a very rural surround. Indianapolis is also neutral in climate, not considered a Northern city or deep South. The citizen of Indianapolis are a good demographic in a ethnically diverse population. It should be interesting to see if the traffic fatality rates can be lowered from better speed controls. Indianapolis is also home to a large automobile manufacturing centers building the new high mileage vehicles. The big three GM, Ford, Chrysler and Navistar all employ thousands of Hoosiers in Indianapolis.

We think the government Cash for Junk Cars may have a negative effect in fatal crashes nationwide. The older cars may have consumed more fuel, pumping out dirty emissions but, the heavier autos may prove to be safer on the highway. The older junk removal units cannot be brought back either. Once the customer traded in for the newer model the old car was scrapped. (418) (19)

Once the old junk removal units are scrapped Indianapolis foundries will melt down the waste and recycle into new products including automobiles. The government sponsored Cash for Junk Cars was implemented through Congressional authority to the National Highway Transportation Safety Administration or N.H.T.S.A. the very same authority responsible for tabulations of traffic fatalities on our highways. Certainly safety would be their highest priority. The Cash for Junk Cars as well as junk removal of units from the environment may be denying them of their primary goal pushing unsafe cars onto the public. (500) (25)

Tax Secrets of the Filthy Rich

Yahoo reports today there is an estimated 21 trillion dollars  of tax free money hiding in  offshore Private Banks and Pirate Banks. Not sure what the difference is between the two but, reasonably sure it's minimal.
The difference between Stinkin Rich and Filthy Rich is Stinkin Rich pay some taxes to operate as honest citizens until they accrue enough cash to be Filthy.
CNBC is also airing the news of the hidden 21 trillion cash on cable today. Other reports today are for 32 trillion indicating nobody is quite sure. The only names given thus far is Mitt Romney has revealed some assets in foreign banks having paid US taxes. There is no proof Mitt does not have money in Pirate Banks unreported. We just don't know. Story here is we're not supposed to know. The cat is out of the bag most likely due to election season. This does not mean the reports are not true.
Mitoosense reported on 16 trillion of secret loans to US 2big2fail banks from the US Treasury at a whopping .001 % interest, without Congress approving. The money transferred through the Federal Reserve discount window making it legal, not ethical. We should audit the Federal Reserve. The 16 trillion was later revealed as 7 trillion or much more than a 750 billion TARP or Stimulus.  Not sure how much this is because these numbers become irrelevant over a million. Be my guest to divide how many times $750 billion will go into $16 trillion. The market is down today for the  3rd day indicating the possibility of another collapse. I'm kinda hoping the markets crash and we cause a market less recovery as a opposed to the current jobless recovery we enjoy today.
The next time you hear the discussion on the job creators and how much they should not pay in tax, remember, many are not paying any taxes at all.

State Penn

NCAA announced this morning a $60 million dollar fine and other sanctions against Penn State University. Mitoosense reported on the Sandusky arrest last year. We had no intentions of further scandalizing the issue.
I was shocked  to learn today Penn State and other schools would have enough money to pay a $60 million dollar fine. Perhaps this may be an indication of why the crimes took place and then ignored by Penn State officials.
Graham Spaniers salary was reported to be $545 thousand a year. A pile of money but, I thought it would be more. College tuition's are highest ever and students are forced into long term debts to pay off loans. If schools are kicking around this kind of cash maybe the problem is much bigger than Sandusky? In addition the $60 million fine paid to the NCAA goes where exactly? Sounds like a windfall from one greedy pocket to another! I would favor instead Penn State lower their tuition $60 million along with other schools and the NCAA authority.

Bailout Flow Chart

Obama steps in it and Romney punts on taxes

President Barack Obama really stepped in a pile this week. In a speech in Roanoke, Va  Obama spoke to a crowd  gathered that will forever be remembered as "You didn't build that". Sound bites from his speech are seen below on this blog. We will call it the Roanoke Address.
The gist of his rant is heaped in no man is an island and therefore we all depend on each other along the way. Most logical people would agree. Most would not agree we do not and should not depend on the government for anything. The government is only empowered to return what was ours originally.
I thought it important enough to read the White House transcript of the speech in Virginia. Much was said and most of it historical flag waving. Historical but the last 4 years is left out.

White House Transcript:
If you were successful, somebody along the line gave you some help.  There was a great teacher somewhere in your life.  Somebody helped to create this unbelievable American system that we have that allowed you to thrive.  Somebody invested in roads and bridges.  If you’ve got a business -- you didn’t build that.  Somebody else made that happen.  The Internet didn’t get invented on its own.  Government research created the Internet so that all the companies could make money off the Internet.

Mitoosense:
As you can see the quote "you didn't build that" is unclear if he refers to building roads and bridges or If you have a business. If Obama is referring to roads and bridges then Obama is wrong. simply because you did not pay for every road and bridge does not indicate your a free loader. If you ever bought a gallon of gas or tires for your car, license plates etc you paid for same. One thing that is certain government never built a road or bridge or Internet. Every asset of the government came from We the People. This is central to most of the misunderstanding of bureaucrats. They take it from us but it returns as a gift and always with strings attached.
If Obama is referring to your business then he still very wrong. Every business is burdened with License, Fees and Permits. Obama has been taking for so long he has lost sight of those who put in the coffers.
There are many ways to give back and the worst is to give it to a politician. Obama had his turn to bat and its time to let another hitter in the Oval Office. Glad you killed Bin Laden great job, but not a single banker in jail and Obama Care is employer based Oligopoly nightmare.
Obama mentions the leadership and sacrifice of those who served in World War Two. When you compare 1945 to 2012 the first issue you will remember is Commercial Banks and Investment Banks and Insurance and Stock Brokerage were firewalled in the Glass Steagall Act 1934. Comparison is impossible because in 1945 we were on the Gold Standard of Bretton Woods. One Hundred years ago Teddy Roosevelt was busy passing legislation to stop 2big2fail and TARP from ever occurring. The advancement made by Muckrackers in early 1900 lasted until we entered the global unfair trade markets that have brought an immediate return of the Gilded Age and Robber Barons Something for you to chew on Mr President.

This week has not been good for Mitt Romney either. It  seems Romney has a bit of a gaffe of his own. When he reported to the American people he left Bain Capital he was filing forms with the SEC he was sole owner and CEO at Bain. The period in question was for three years of filings. The Romney taxes would certainly clear up the discrepancy in the Romney/Bain memory banks. He is no doubt a liar! About what we're not really sure. The Romney Campaign is steadfast in not releasing any further tax information. I think a bit silly cuze I would vote him in to get Obama out if he were the Anti Christ. That's just me though.

We can see a definitive clear divide in the candidates ideology. Obama wants to raise taxes on the rich and Romney will offer even further tax cuts to the wealthy. I prefer to overhaul the tax system and eliminate the divides between business and citizens and charge everyone a flat rate that pays the bills. Eliminate the IRS having the Bankers deduct money from all transfers, pay in the Social Security etc and skip employer based deductions completely. Business owner is no longer the whipping boy of the IRS and not responsible for checking citizenship of employees. No more April 15, deadlines and tax prisons.

The bankers are the 4th covert branch of government anyway, they have the resources to instantly to decipher deductions determine citizenship and pay the government. Special Interest lobbyist will vanish. We hope.

Mitoosense does not wish to offend either party. You can vote for either party. I'm voting for Gary Johnson and pray for the best. These guys above are both out.

Obama: If You've Got A Business, You Didn't Build That

The Good, Bad and Ugly

Freedom of Speech and the 1st Amendment got a boost today. Yahoo reports that 50 year old John E. Brennan was acquitted of indecent exposure for removing all his clothes in the Portland, Oregon Airport. Mr Brennan lost his clothes and exposed his junk to protest the TSA violating his rights in the 4th Amendment Illegal Search and Seizure. The Oregon Judge supported Mr Brennan right to protest under the US Constitution 1st Amendment freedom of speech. I'm betting the judge would feel differently had Mr Brennnan exercised the same rights in the Portland courtroom.
 Samuel Williams from Marion County, Fl made the news recently when the 71 year old foiled a armed robbery attempt at the Palm Internet Cafe.  Two masked men entered the Cafe to rob the patrons of their valuables. One armed with a firearm and the other wielding a club began threatening the customers demanding loot. The video below shows their brash behavior entering. When customer Samuel Williams began shooting they did not return fire. Choosing to run like rats grabbing lots of carpet on the way out the door. News reports both men Davis Dawkins and Dwayne Henderson were found in a nearby hospital suffering from gun shot wounds, presumably from Ole Sam.
One county over another story without a happy ending. Lake County Florida Sheriffs knocked on the  front door of  Tavares resident 26 year old delivery man Andrew Scott in the middle of the night. Sheriff's without warrants or announcing they were with the Sheriffs Office murdered Andrew at his front door because he answered his door with a gun. The 2 Deputies were not searching for Scott when Deputy Richard Sylvestor fired the shot killing Scott. Very disturbing, a spokesman for the Lake County Sheriffs Office was quoted at the scene, The bottom line here is if you answer your door in the middle of the night with a weapon the unidentified officers will kill you. This statement seems legitimize the conduct of the Sheriff to murder citizens in their homes.  A quantum leap in vigilante justice.
Mittosense believes the US Constitution 2nd Amendment gives you the right to bear arms. It has no provision or clause to exempt the 2nd when police are present. Further, Mr Scotts 4th Amendment Illegal Search and Seizure were violated since there were no warrants issued for the Scott residence. This is a pure case of murder and a trial should be held for Deputy Sylvester and deceased Scott.
We would hope the Lake County Sheriff will act swiftly and not wait 45 days as Sanford Police did in the Trayvon Martin murder in neighboring Seminole County. There also seems to be a lack of qualified law enforcement in central Florida being Martin, Lake and Seminole Counties share borders.
In Colorado  24 year old James Holmes was arrested in the murder of  a dozen victims in a Aurora, Co. movie theatre. The cold blooded killing of 12 people indiscriminately murdered for no apparent reason is beyond any logic. Our prayers are with the people in Aurora and Tavares who lost loved ones from violence. It it our duty to see that swift justice is carried out in accordance with our laws.

71 Year Old Samuel Williams Shots Young Black Thugs Robbers in Internet ...

Heightend State of Hypocrisy

The picture above was downloaded from the Internet in December 2010. The photo depicts (D) Harry Reid and Chinese Windmill manufactures who just received a $450,000,000 million dollar contract to supply, install and operate wind farms in the West. The funds came from our Stimulus Act. Even though Harry Reid seemed to be a central player in the deal the cash actually came from tax dollars and debt, most of which is supplied by the Chinese. You will note Senator Reid appears to be quite satisfied with the big deal with the Chinks. Not overlooking the American worker is completely ignored in the jobs to build , install and operate the wind farms. We seem to have cut a deal that brings more debt to the taxpayers and more interest payments to China. We upset the trade balance even further and deny American Manufacturers to participate in new technology green energy. Worse we allow the Chinese to profit from the  installation and operation  of the wind farms for nevermore.
Why is this important today? In today's news is an angry Harry Reid from Nevada (same guy) bashing the purchase of US Olympic Uniforms supplied by Ralph Lauren but, Made in China. In his angry delivery this morning he said " I wish they would put them all in a pile and burn them" The Chinese spokesman answered the charges with a patronizing reply paraphrasing " The Olympics are not about politics and the US is guilty of bringing Nationalism into the games". The Chinese Competitors Uniforms were also  "Made in China" a glaring revelation in our balance of trade with the Chinks.
I thought the charges of Nationalism a bit humorous noting all the flags on display on every uniform and the Anthems always present when the competitors file in. One would hope all the American Flags displayed are Made In USA but, also doubtful.
 I must admit I personally did not care for the uniforms chosen from Ralph Lauren. The hypocrisy of Harry Reid is more than I could stomach and forces me to remind readers of the photo of Harry and his Chink buddies in happier times. The Nationalism I suspect will fade after the election and Harry will return to his day job of Greedy Politician.

Dirty Rotten Scoundrels

The Banksters are at it again. Or maybe I should just say they're being caught again as the stealing never really stopped. Barclays who bought up Lehman Bros in 2008 is in the news for fixing interest rate at the European LIBOR. Same people who took down the American Financial Banks are up to no good at Barclays in London.
We here in America have not dodged the bullet.  In the news Chase Bank and JP Morgan Chase lost 6 billion in derivatives trading recently.  The amount of losses changes weekly and varies from 2 billion to 9 billion in estimates. Estimates are always used in the absents of knowing what your doing or unable to tell the truth. The 3 piece suit has become the uniform of a modern day Privateer. Pirates were all Privateers until the King dissolved the agreements and they chose a life of crime on the high seas. One day our King will also dissolve the current banking system and Bankers will return to being common thieves again. New York and its Financial Markets and Rating Agencies will slide into the Atlantic where it belongs.
If you remember Jamie Dimon and Company took over Bear Stearns in 2008 for the same scandal on a larger scale. Bank of America acquired the thieves at Countrywide and Merrill Lynch with funding provided from the corrupt New York Federal Reserve and imaginary instruments such as Maiden Lane LLC were conjured up to solve any accounting problems.
AIG the bag man who wrote unsecured insurance on Bundled Mortgage Securities announced today its suing the government over taxes paid way back in the 90's. You may remember this period as The Savings and Loan Fiasco or Read My Lips. Anyhow AIG who should have been declared bankrupt and liquidated was allowed to survive as an instrument to save what was left of our 2big2fail Banks who insured worthless mortgage securities with AAA ratings from our finest institutions Moody's and Standard and Poors equally corrupt. By funding AIG from funds from the US Treasury, the money would trickle down to Goldman, Chase, BoA, Citi etc etc etc. Even foreign Banks got money from the Fed via AIG.
This may all sound repetitious but, it is not. This is a new round of stealing with the Dodd-Frank Act and SEC watching. We were all promised a new law with greater authority at the Treasury Department would prevent the stealing by the suits. The truth is well documented in the F.C.I.C Financial Crisis Inquiry Commission implemented by Congress. Mitoosense reported on the FCIC back in January of 2011 for those who wish further information.
One cannot address dirty rotten scoundrel without mention to those who make it all possible. Barack Obama and the 112th Congress. Yep, they're all guilty. Starting with Barack Obama I remember back to his campaign of 2008. In the heat of the meltdown. In my memory the campaign of Hope and Change included tossing the Banksters in jail, return of manufacturing jobs from China, investment in green energy, creating high paying jobs with new technology. Ending of the Bush tax cuts and Patriot Act and   Border Control as a high priority to immigration. Stopping the insurance practice of pre-existing conditions and cancellation of policies to name just a few. Four years later the Hope and Change looks bad and smells worse. This is my blog so we work from my memory based upon what I heard and not everything that was said or claimed to have been said,
Not a single banker was thrown in jail. The Dodd_Frank Act was a band aid on a heart attack and regulates the citizens and validates Graham Leach Bliley, 2big2fail TARP and trickle down Reaganomics.
Obama has all but ignored his promise to return jobs from overseas. His administration bought Russian made helicopters and windmills from China. GM built new factories in China with money from TARP and Americans were handed out menial jobs caulking windows in urban homes that should have been razed. Obama pumped a half a billion into Solyndra only to see their products undercut by Chinese knockoffs in unfair US trade practices. Solyndra went belly up. No jobs and we bought windmills from China remember.
Obama extended both Bush Tax Cuts and Patriot Act. He has allowed the Bush Covert Immigration to continue allowing 22 million free ranging criminal aliens access to jobs and entitlements in America. His proposed Dream Act would simply allow citizenship to those who violated our laws the longest and provides for no control of the systemic issues. Obama and Attorney General Holder have sued states attempting to control the infestation and Fast and Furious gun walking sales of weapons to drug lords has made all of America unsafe.
The Obama Care is a failure on all levels. Beginning with being employer based, mandatory and unconstitutional in my mind. Americans should always have the rights to option out of bad program entitlements. If Social Security were optional the benefits would increase and cost would plummet if the money was chocked off by the consumer. Ditto for Health Care and Auto Extortion.
I'm sure that everyone is tired of reading this garbage and I am tired of writing about the garbage. The reason of coarse is nothing is done about the garbage. Same corruption year after year and nothing get done because we have more people stealing than working. Eventually the garbage will pile up to a level it cannot be contained. Economist agree we will slide of a cliff December 31, 2012. Comforting to note the Mayans were only off in their calendar by 10 days
Burma Shave

Affordable Care Act

The Affordable Care Act passed muster with the Supreme Court this week. The controversial legislation is  employer based and contains the mandate citizens must purchase or suffer a penalty. One would question the logic if you go to prison for not buying health insurance, you are doomed to free health care as punishment.
 Mitoosense was already suffering from Post Dramatic Stress Disorder resulting from Chase Bank loosing 9 billion at the Congressional Casino, followed with Fast and Furious contempt of congress vote aginst Eric Holder. Then the news came from the High Court, Obamacare was legal. Everyone expected the Court to shoot down the mandate and kill the Law. I think I'm gonna be sick.
Instead the high court threw a curveball and deemed the mandate was a tax, and therefore legal. It opens another door, is the tax unconstitutional? Can Congress force citizens to buy anything or be taxed? When employers buy group health insurance they often get sweetheart deals including costs or coverage based upon nepotism common in corporate America, thus avoiding the tax and out of pocket expenses. Another fine example of Corporate Wealthfare. God answered with floods, fires and blowing down the Congressional Golf Coarse in Maryland. I didn't know they had a golf coarse, silly me.
The ruling places the legislation high on the unwanted list with the Patriot Act and Iraq War. Similar to the Patroit Act the name shares nothing in common with the law. A vast majority of citizens were against Obamacare but, we got it anyway. The 111th Congress will be long remembered for representation in taxation. The 112th Congress will be remembered for skeet shooting all forward motion until further notice. Content with we ain't doin a budget, we just spend money we don't have and raise the debt.
  No one is sure how the healthcare will operate. For sure nobody in Congress has read the 2700 pages of how you will pay for healthcare of others, while forcing you into servitde to an employer and guranteeing the giant Insurance Titans will continue to mandate costs to protect selfish obscene profits.
Only Congress can take noble causes such as retirement and healthcare and twist them into a cocktail of another Oligopoly Conspiracy to indenture citizens to servitude. Little benfits mixed with huge losses of personal freedoms found in the first paragraph of the Constitution.