MFS – The Other News

Morning Posting.

  • Updated !Earthquakes in the last 24 hours in the world seismic activity in Japan 5.6 and Russia 5.4 ! More info here.


  • Japan : For the most accurate info on the nuclear disaster go to: Paul Langley’s Nuclear History Blog.Here.


  • Police Set Barricades as ‘Days of Rage’ Protesters Target Wall Street .Live updates-With Some Live Video.Source : TheBlaze .


  • Obama says Americans must pay fair share to cut deficit and pay for his “PLAN”.(AlArabiya).President Barack Obama said on Saturday that Americans need to be ready to “pay their fair share” to narrow the U.S. deficit, previewing his proposals to Congress that are expected to include more taxes on the rich. In his weekly radio and video address, the Democrat said his $447 billion jobs plan that features tax breaks for workers and small businesses, plus funds for public works projects and schools, “will not add to the deficit. It will be paid for.”On Monday, I’ll lay out my plan for how we’ll do that − how we’ll pay for this plan and pay down our debt by following some basic principles: making sure we live within our means and asking everyone to pay their fair share.”(Hmmm…..Adressing Congress it was “”Everything in this bill will be paid for. Everything.”)Obama has repeatedly argued for the wealthiest Americans to face higher taxes with fewer loopholes and exceptions as part of the effort to ensure the U.S. debt load remains in control. He is likely to float more taxes on the rich, as well as companies getting some tax breaks, in his Monday suggestions to a congressional “super committee” tasked with finding at least $1.2 trillion in budget savings over 10 years.Republicans, who have raised the volume on Washington’s fiscal problems as the November 2012 presidential election nears, see higher taxes on the wealthy as a problem for jobs, given that entrepreneurs and companies would be strongly affected.In his party’s weekly address, Republican Congressman Peter Roskam said Obama’s barnstorming about the jobs bill had masked other constraints on the economy that are keeping people from getting back to work.“Washington has become a red tape factory, with more than 4,000 rules in the pipeline − hundreds of which would cost our economy more than $100 million each annually,” Roskam said.The White House has conducted a regulatory overhaul to eliminate old and overlapping rules across U.S. government agencies. It was broadly welcomed by the private sector including major groups like the U.S. Chamber of Commerce.Roskam said more regulations should be pared back as part of the effort to tackle unemployment. “I hope the president will consider our ideas as we take a look at his,” he said.Hmmmm…….Read my Lips” More new Taxes”?Read the full story here.


  • “The Perfect Solar Storm” – Storm Clouds Gather Over Obama, Solyndra.(Examiner).While the sun has set on Solyndra, the solar panel company that received more than $500 million of taxpayer money only to go bankrupt, storm clouds are gathering over the Obama administration and its relationship with the now-defunct company.Many of you may not know much about Solyndra and that is primarily because most media outlets have remained mum on the subject or are hiding the news. Like the Chicago Tribune, for instance. In its Sept. 14 edition, the unfortunate death of popular Chicago Bears player Brian Urlacher’s mother was the top “news” story. Coverage of House hearings into the bankruptcy of Solyndra and how it got $535 MILLION of taxpayer money was pushed all the way to the bottom of page 20. I guess taxpayers being on the hook for more than one-half a billion dollars is minor compared to the death of a football player’s mom.Anyway, in March 2009, at the urging of the Obama White House, the Department of Energy loan department approved a $535 million guaranteed loan to Solyndra. Of course, the administration is trying to blame the Bush White House (what new?) because the loan application occurred while Bush was president. The fact is the Energy Department under President Bush DENIED the loan request from Solyndra during the administration’s waning days in early January of 2009. The Bush Energy Department denied the loan because the “company didn’t have good long-term prospects.”However, that isn’t deterring the Obama Energy Department from rewriting history. Jonathan Silver, who heads the Energy loan program, said, “By the time the Obama administration took office in late January 2009, the loan program’s staff had already established a goal of, and timeline for, issuing the company a conditional loan guarantee commitment in March 2009.”History, Mr. Silver, proves otherwise. Internal Energy Department e-mails indicate the panel evaluating the loan unanimously decided to shelve Solyndra’s loan application two weeks BEFORE Obama took office. But that didn’t stop a green-driven Obama administration from changing course. Two months later, new Energy Secretary Steven Chu announced the government would give Solyndra a $535 million loan, funded with money from the stimulus program passed in February 2009.History also shows that the Obama White House asked the Energy Department to make a decision on the loan so they could schedule a visit by President Obama to the Solyndra facility to announce the loan. Records also show that Oklahoma billionaire George Kaiser was a private backer of the deal and that he raised tens of thousands of dollars in 2008 for President Obama’s presidential campaign. Kaiser made repeated visits to the White House as did Solyndra executives (more than 20 to be exact). Solyndra executives also were telling Democratic members of Congress that Solyndra was a financially strong company that was doing well. They were telling this to the Obama White House and Democratic members of Congress even just weeks before the company shut its doors and filed for bankruptcy.White House and Energy Department e-mails show the Obama administration was hot to trot over Solyndra. Vice President Biden appeared at the company’s groundbreaking ceremony in 2009 and President Obama showed up May 23, 2010 to tout the company, its green products and the green jobs being created. One month after Obama touted the green jobs being created at Solyndra, the company laid off 100 workers. One cannot make this stuff up.All of this took place even as administration analysts were skeptical of the company’s claims and business stability. “This deal is NOT (emphasis in original e-mail and not my own) ready for prime time,” one White House budget analyst wrote all the way back on March 10, 2009. A few days before Solyndra’s groundbreaking ceremony in September 2009, a Department of Energy official concluded the company would run out of money by September 2011. Wow, a government analyst actually got a prediction correct!Unfortunately, no one in the Obama administration seemed to care as it continually pushed the company as a shining light in the green movement and green jobs creation.Taxpayers lost more than half a billion dollars on this company, and now 1,100 people are out of work. The Obama administration, which received tens of thousands of dollars in campaign donations from those affiliated with Solyndra, continually touted the company as a shining example of the green economy and green jobs even as administration analysts doubted the company’s viability. And the agreement by the Energy Department to allow recent investors to recoup their investment before taxpayers is deemed illegal.And now the Obama White House is scrambling to approve another 15 loans through the Energy Department before Sept. 30. There is $10 billion still available in the Energy Department loan program that must be used by the end of the month or be re-allocated. Rather than wasting that money, wouldn’t it be better to either save that money or at least use it to help pay for the disaster costs associated with Hurricane Irene? I guess that makes too much sense.The worst presidency in U.S. history is now embroiled in a developing scandal, with another scandal brewing as well: the Fast and Furious gun-running program with Mexican drug gangs. Anyway, November 2012 can’t come soon enough, nor can January 2013.Hmmmm…..Can they startup the impeachment procedure now?Is this why they start Shoving Hillary on the front row?Realising Obama will get Impeached on this?Read the full story here.


  • Related – White House Allowed Obama Campaign Donor To Act As Second Lender To Solyndra, Waived First Creditor Status.(NYTimes).Washington — The political brawl over Solyndra, the solar array manufacturer that received $528 million in government aid and then went bankrupt, shifted focus Friday to a decision by the Energy Department that allowed another lender to step in to help rescue the company.That decision in February gave Solyndra a temporary reprieve and a chance to survive, but it also forced the government to waive its privilege as first creditor in the event of a bankruptcy — which then occurred at the end of August.Complicating the politics of the situation for the Obama administration, the other lender was Argonaut, the investment company backed by George Kaiser, an Oklahoma oil billionaire who is an Obama campaign contributor. Argonaut was already heavily invested in Solyndra, and provided another $69 million in cash in exchange for taking over $75 million that Solyndra was owed by its customers.The Energy Department’s approval was required for Solyndra to borrow any new funds, because if the loan was consummated, the federal government would have to surrender its status as the most senior lender, in favor of the new lender.Hmmmm…….”Solyndra Gate”?Read the full story here.


  • LightSquared Update: Obama Was A LightSquared Investor!(ObamaFailBlog).Earlier this week, we learned that the Obama administration pressured Air Force general William Shelton to change his testimony to help a company owned by Obama donor William Falcone.

The company is a LightSquared – a broadband satellite company.General Shelton contends LightSquared’s new wireless project interferes with military GPS systems.Turns out President Obama was doing alot more than attempting to help out a major donor – Obama himself was (or still is?) an early investor in LightSquared!

Obama himself was an early investor and came to the presidency a firm believer in expanding broadband. He remains close to other early investors, like Gips and investment manager George W. Haywood, inviting some to luxe social events at the White House and more intimate gatherings like a night of poker and beer.

Source: Huffington Post via The Lonely Conservative

And it gets worse… There were waivers involved:

Obama installed one of his biggest fundraisers, Julius Genachowski, a campaign “bundler” and broadband cheerleader, as chairman of the FCC, whose staff granted LightSquared a special waiver to operate.

 Source: Huffington Post via The Lonely Conservative

         And it gets EVEN WORSE…

Jeffrey J. Carlisle, the company’s vice president for regulatory affairs, served with Genachowski and Gips on Obama’s transition team.

Source: Huffington Post via The Lonely Conservative .Read the full story here.