Free Republic

Jeannie DeAngelis Residents of New Haven Connecticut should be ecstatic knowing tax dollars are moving mountains and inspiring achievement in an army of "Obama scholars." Lincoln Bassett Middle School in New Haven, Connecticut has received a "great school rating" of two on a scale of 1 to 10. Therefore, it was no surprise that a classroom full of impressionable boys were led in a chant by a cheerleading gentleman in a black kufi. We're talking "involved parents and successful kids." Standing on the sidelines at the event, was a group of suit jacket school administrators who attended the chant to...

LOS ANGELES (MarketWatch) -- Three affiliated banks in Florida were closed Friday, according to the Federal Deposit Insurance Corp., raising the tally of bank failures in 2010 to 76. The Bank of Florida - Southeast in Fort Lauderdale; the Bank of Florida - Southwest in Naples; and the Bank of Florida - Tampa Bay in Tampa were shut down. EverBank in Jacksonville, Fla., has acquired their banking operations. Bank of Florida Corp.

WASHINGTON – Despite a top-to-bottom overhaul of the intelligence community after the 2001 terrorist attacks, the security system showed some of the same failures nearly a decade later and allowed a would-be bomber to slip aboard an airliner, congressional investigators said Tuesday. The Senate intelligence Committee report at times contradicted the Obama administration's assertion that the nearly catastrophic Christmas Day bombing attempt was unlike 9/11 because it represented a failure to understand intelligence, not a failure to collect and understand it. The congressional review is more stark than the Obama administration's report. It lays much of the blame at the...

There are only 190 days until the 2010 election. Many of you have been at work long before now. You've held strategy sessions all across the country to discuss how to most effectively help candidates in your community who are fighting to bring about change. At OFA headquarters, we've been poring over your ideas, your input, and the best data we can get our hands on to determine the most helpful role we can play. Together, based on that feedback, we've crafted a comprehensive electoral plan that can make a big difference in the upcoming elections. President Obama recorded a...

WASHINGTON, March 19 (Reuters) - Regulators seized seven more U.S. banks on Friday, as high unemployment and troubled loan portfolios continue to weigh on the sector. The seven failures, which are estimated to cost the government's deposit insurance fund more than $1 billion, bring the 2010 tally to 37 failed institutions. Last year, 140 banks failed. At this week's frantic pace, 365 banks would be shut down by the end of the year. The Federal Deposit Insurance Corp said Advanta Bank Corp of Draper, Utah; Appalachian Community Bank of Ellijay, Georgia; Bank of Hiawassee, Hiawasee, Georgia; First Lowndes Bank of...

NEW YORK – Regulators shut down banks in Nevada and Washington on Friday, marking the 21st and 22nd failures this year of federally insured banks. The Federal Deposit Insurance Corp. was appointed receiver of Carson River Community Bank, based in Carson City, Nev. and Rainier Pacific Bank in Tacoma, Wash. Carson River Community Bank had $51.1 million in assets and $50 million in deposits as of Dec. 31. Rainier Pacific Bank had $717.8 million in assets and $446.2 million in deposits as of Dec. 31. The FDIC said that Carson River's deposits will be assumed by Reno, Nev.-based Heritage Bank...

The Federal Deposit Insurance Corporation is bracing for a new wave of bank failures that could cost the agency many billions of dollars and further strain its finances. With bank failures running at their highest level in nearly two decades, the F.D.I.C. is racing to keep up with rising losses to its insurance fund, which safeguards savers’ deposits. On Tuesday, the agency announced that it had placed 702 lenders on its list of “problem” banks, the highest number since 1993. Not all of those banks are destined to founder, and F.D.I.C. officials said Tuesday that they expected failures to peak...

WASHINGTON (AP) -- Regulators shut four banks from California to Florida on Friday, boosting to 20 the number of U.S. bank failures this year following the 140 closures last year in the worst financial climate in decades. The Federal Deposit Insurance Corp. took over La Jolla Bank, FSB, in La Jolla, Calif. The bank had 10 branches and about $3.6 billion in assets and $2.8 billion in deposits. Also seized was George Washington Savings Bank in Orland Park, Ill. It had four branches and about $412.8 million in assets and $397 million in deposits. The FDIC said OneWest Bank in...

WASHINGTON – The White House is not expected to announce the firing of any officials over intelligence failures — for now anyway — as President Barack Obama prepares to tell the nation more about a botched terrorist attack over Detroit and what else he will do to beef up security. Eager to fix a glaring breakdown in intelligence sharing and get the incident behind him, Obama will speak Thursday about a declassified account of the near catastrophe on Christmas Day. The White House also plans to release a copy of the report with some detail stripped away for security reasons....

Happy New Year to all my readers, and what better, oh, what better way to celebrate the start of a new year than by looking backwards. That's right...looking backwards at all the greatest failures of the Obama Administration from 2009, its first year in power! Here for your reading pleasure is a Top Ten compilation of what I deem to be the ten most failing moments of Barack Hussein Obama relating to his policies; this list is by no means complete, and he seems to add to it every day, but you get the picture. So, here's to a happy...

Their profits have rebounded, but shaky home-equity and credit-card debt—for starters—could change that. At first glance, banks seem to be recovering nicely from the financial crisis. But investors cheered by optimistic earnings reports could soon face a painful surprise. Many banks appear to be postponing inevitable losses on home-equity loans and commercial mortgages. Others face new trouble in consumer banking, especially credit cards. "Banks know they've got big holes on their balance sheets," says Paul Miller, an analyst for FBR Capital Markets. The hopeful news is that overall bank industry earnings tripled, to $2.8 billion in the third quarter, compared...

Running through the litany of Obama’s most recent failures, the sycophant in chief at MSNBC has declared that the Obama administration is “not connected” (NK in Chris’s language) with the American people. Matthews stunned his audience of twelve (the janitorial staff leaves early on Fridays) by chiding the once deified Obama for his asinine over bow to the Japanese emperor. Revisiting one of his daffier theories, Matthews opined that Obama’ s real problem is an unnatural over abundance of IQ point which make it impossible for him to understand normal people. Et tu, Chrissy?

Bank On More Failures If the economy is rallying, why are hundreds of banks in danger of closing in the coming months? By Nancy Cook | Newsweek Web Exclusive Aug 28, 2009 While big institutions such as Citi, Bank of America, and Morgan Stanley have grabbed headlines and billions in bailout money, 81 small banks have shuttered their doors so far this year. Despite a rebound in the markets, hundreds of additional banks are expected to close in the coming months as consumers and small businesses default on loans and as local real-estate investments drop. The Federal Deposit Insurance Corp.warned...

Excerpt ... Assets for failures for [the current] crisis total $7.1 trillion to date. This is nearly eight times the assets compared with the inflation-adjusted total for the S&L crisis. The data for bank failures in the Great Depression is shown in the following table. The total deposits involved were about $7.6 billion over a span of 13 years. Adjusted for inflation, that is $100 billion in 2009 dollars. The size of the crisis today, adjusted for inflation, is more than 70 times larger than the entire Great Depression. It's unlikely that bank failures can peak until we are close...

NEW YORK (TheStreet) -- New bank failures last week included two in Arizona and one each in Pennsylvania, Alabama and Nevada, bringing the total number of banks and savings and loans shut down by regulators this year to 77. All 102 bank failures since the beginning of 2008 are detailed on TheStreet.com's interactive bank failure map:

A bipartisan coalition of 36 members of the House of Representatives--including 30 Republicans and 6 Democrats--has sent a letter to President Obama asking him to return to Congress its constitutional legislative authority to oversee the bailout of the auto industry. In December, Congress failed to pass a bill authorizing a bailout of Chrysler and General Motors. President Bush and now President Obama, however, proceeded with a bailout process even without legislative autority. That process has cost the taxpayers billions of dollars and given the Executive Branch unilitaral and unprecedented authority to control what happens to the two major auto companies....

WASHINGTON (Feb. 5) - Labor Secretary nominee Hilda Solis became the latest Cabinet nominee to face questions about unpaid taxes Thursday as a Senate panel abruptly postponed a scheduled vote on her confirmation. The postponement came after revelations that Solis' husband settled tax liens on his California auto repair business this week that had been outstanding for as long as 16 years.

DETROIT — The rapidly deteriorating finances of General Motors are forcing the federal government to decide whether to bail out the largest American automaker or face the prospect that it might go bankrupt. G.M. said Friday that its cash cushion had been dwindling by more than $2 billion a month recently and that it could run short of money by mid-2009 unless it got emergency federal assistance. It also said it had suspended merger talks with Chrysler to focus on its own increasingly urgent problems, brought on by higher gas prices, a weakening economy and tight credit — a combination...

Here is the Bret Baer video with Barney Frank lying about the already failing Fannie Mae and Freddie Mac banks. This was aired recently on FOX but I haven't seen a link at FR yet, so here it is.

The insane leader of the House of Representatives said today: "We Cannot Afford to Continue Failed Republican Economic Policies" referring to current problems in our financial markets; like the pending bankruptcy of Lehman Brothers - a leading Wall Street investment house. And yet, Pelosi, by the facts, is nothing but a liar, as to whose "policies" have "failed". Both the "sub-prime" crisis and many of its aftermaths are completely related to total lack of due diligence by Congress in their oversight role of Freddie and Fannie. Since 2000, when Republican House leaders attempted major reforms of Freddie and Fannie it...