Archives for October 2010

ALG Demands Special Prosecutor Investigate $32 Million Sweetheart Loan to Democrats from Bank of America

October 29th, 2010, Fairfax, VA—Americans for Limited Government (ALG) President Bill Wilson today issued the following statement demanding a special prosecutor be appointed to investigate whether $32 million of loans given by Bank of America to the Democratic National Committee and the Democratic Congressional Campaign Committee were illegal campaign contributions, as reported by Pajamas Media:

“It appears next to no collateral was put up by the Democrat committees that received $32 million in loans from the Bank of America, calling into question whether these ‘loans’ were actually illegal campaign contributions from a bank that has benefited from Democrat rule of government. The collateral offered by the DNC was a donor list, which are tough to appraise on their own, but if the $15 million credit line to that committee was not based on an independent appraisal of the list, it was an illegal contribution from a bank holding company. As for the DCCC $17 million loan, the collateral is unspecified.

“Thus far, the Bank of America has not confirmed there were any independent evaluations of the collateral submitted by the Democrat committees, despite responding to the Pajamas Media story at length.

“Particularly, given the recent pressure placed on the Bank of America over proper foreclosure documentation, it is perfectly reasonable to ask if these were actually pay-to-play loans to call off a potential government moratorium on all foreclosures?

“It is now up to a special prosecutor to be appointed to subpoena all of the relevant records, call witnesses to testify, and prosecute any infractions of campaign finance law. Bank holding companies have too cozy a relationship with the nation’s central bank to be allowed to turn around multi-million dollar sweetheart loans to incumbent political party committees. This is above all heinous since the Bank of America has been on the receiving end of tens of billions of dollars of bailouts from taxpayers and the Federal Reserve.”

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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ALG Statement on Latest GDP Numbers

October 29th, 2010, Fairfax, VA—Americans for Limited Government (ALG) President Bill Wilson today issued the following statement in response to the latest 2 percent GDP growth estimate by the Bureau of Economic Analysis:

“If the trillion-dollar stimulus plan passed, the Obama Administration promised there would be 3 percent growth in 2010, and unemployment would not rise above 8 percent. Instead, growth is only an anemic 2 percent and joblessness remains persistently high at 9.6 percent, marking the worst period of high sustained unemployment since the Great Depression. Now, the Administration’s only apparent plan is to print another $2 trillion in 2011 to finance unsustainable government spending and help roll over the $13.67 trillion national debt which nobody wants to buy. This, too, they call ‘stimulus,’ but really, it’s the destruction of the U.S. dollar.

“The fact is, if spending is not reined in now, and we continue running trillion-dollar deficits as far as the eye can see, the Treasury will have to sell $2.93 trillion of treasuries every year for the next three years, more than it has ever had to sell. That represents $2.93 trillion that could be invested in the economy, but is instead going to finance government spending and debt service. Government largesse is crowding out potential private sector investment in a useless paper trade that misallocates resources away from the real economy.

“Meanwhile, the 2001 and 2003 tax cuts are set to expire at year’s end, which will mean a $300 billion automatic, annual tax increase on all Americans, particularly job creators, who are desperately needed at this critical juncture. Moreover, there is over a $1 trillion in private capital sitting overseas that will not be repatriated because the Obama Administration all but eliminated the foreign income tax credit this year. Instead, there should be no tax on profits earned overseas; we should be encouraging businesses to reinvest here.

“Right now, the Obama Administration through its fiscal and monetary policies is doing everything in its power to discourage private sector investment. Coupled with the vast tax increases and regulatory regimes imposed by ObamaCare and the Dodd-Frank financial takeover bill, is it any wonder the economy is still stuck in the mud? Government needs to get out of the way.”

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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Boxer Countrywide Conflict of Interest Revealed as Complaints are Filed with Senate Ethics Committee and Attorney General

Calls for New Ethics Investigation Grow as Public Watchdog Uncovers Conflict of Interest

October 26th, 2010, Fairfax, VA—Americans for Limited Government (ALG) President Bill Wilson today urged the Senate Ethics Committee to reexamine sweetheart loans given to Senators Chris Dodd and Kent Conrad by Countrywide in light of three Countrywide loans held by the committee’s chair, Senator Barbara Boxer.

“Senator Boxer, who had Countrywide loans of her own, never should have headed the Dodd and Conrad investigations into their own Countrywide dealings. This is one of the most blatant conflicts of interest in Senate history, and throws the Ethics Committee’s investigations of Dodd and Conrad completely into question,” Wilson declared.

“Senator Boxer’s loans even came during the same period as Dodd and Conrad’s loans, and yet she did not recuse herself,” Wilson explained.

Documents have recently surfaced from the Foundation for Ethics in Public Service, as reported by the Daily Caller, showing Boxer had refinanced mortgages with Countrywide in Marin and Alameda Counties in California from 2000 through 2004, and in Washington, D.C. from 2001 to 2007. The Marin County refi was paid off in 2006, and the Alameda County refi was paid off in 2005 via a Credit Suisse refi. Dodd refinanced twice with Countrywide in 2003, and Conrad received his special deal in 2004.

Boxer spokesman Zachary Coile denied any wrongdoing: “Senator Boxer disclosed more information than she was asked to disclose — even though Senate rules do not require any disclosure of a lawmaker’s mortgages.” Wilson said the issue “goes beyond disclosure.”

Wilson responded, “Boxer still doesn’t get it. This is pretty basic stuff. You don’t head an investigation into a company that you’re a client of. Her partial disclosure does not mitigate that inherent conflict of interest.”

Previously, Boxer had only disclosed the existence of two of the Countrywide loans to reporters in 2008. Wilson questioned why the third loan was kept a secret, saying, “The head of the Senate Ethics Committee should be above reproach. It certainly raises questions.”

The Foundation for Ethics in Public Service has now filed formal complaints with both the Senate Ethics Committee and Attorney General Eric Holder for this particular failure of Boxer to disclose the Alameda County refi for her son Doug’s home. “It’s been 8 years where it should have been disclosed, and she did not,” said Leslie Merritt, Executive Director of the Foundation.

“As head of the Senate Select Committee on Ethics, she should have listed everything,” Merritt added.

“Boxer’s committee concluded that both Senators Dodd and Conrad ‘should have exercised more vigilance’ to avoid the appearance of impropriety when she herself did not meet that basic standard. She did not recuse herself from overseeing these investigations because of her own Countrywide loans when she should have,” Wilson said.

Wilson called on the Senate Ethics Committee, which exonerated Dodd and Conrad of any wrongdoing, to redo their inquiries. Both Senators were accused of accepting gifts from Countrywide via the so-called “Friends of Angelo” program. The committee found “no credible evidence” that either Senator had “knowingly accepted a gift.”

However, Dodd had admitted that he knew he was in the VIP program in February 2009. And according to sworn testimony by former Countrywide employee Robert Feinberg to Congress, both Senators Dodd and Conrad were aware they were in the program. As reported by the Wall Street Journal, Dodd “got the red-carpet treatment because of his central role in regulating the financial industry,” according to Feinberg.

The Journal report continues, “Countrywide was for years the biggest single customer of Fannie Mae, the giant government-sponsored mortgage securitizer that has since gone into federal conservatorship. Much of Countrywide’s business was built around its ability to sell loans to Fannie, and [former Countrywide CEO Angelo] Mozilo helped push Fannie to accept dodgier and dodgier paper. Mr. Dodd in turn supported this goal by pressing Fannie to do more for ‘affordable’ housing.”

“Boxer’s commission completely botched this investigation. She said Dodd and Conrad didn’t know they were getting special treatment. It is crystal clear they did know,” Wilson said. Dodd reportedly saved $75,000 because of the preferential treatment, and did not seek reelection in 2010 because of his involvement with Countrywide.

Also included in the “Friends of Angelo” program were former Fannie Mae CEO’s Franklin Raines and Jim Johnson.

Wilson said Countrywide’s bankruptcy would not have been possible without support from Fannie Mae and Freddie Mac. GSE purchases of mortgages from Countrywide gave it the ability to originate some $789 billion of so-called “Best Practices” mortgages that helped to fulfill the Government Sponsored Enterprises’ “affordable housing goals,” according to research by former chief credit officer of Fannie Mae, Edward Pinto.

Those “affordable housing goals” helped to facilitate both companies’ downfalls, according Pinto’s research. Both Fannie Mae and Freddie Mac were placed in conservatorship in 2008 by Congress, and have received as much as $145 billion in taxpayer assistance.

“Dodd and Conrad’s placement into the ‘Friends of Angelo’ VIP program, when Countrywide was doing some $789 billion worth of business with Fannie Mae and Freddie Mac at the behest of congressionally-mandated ‘affordable housing goals’, were obviously gifts. The Senate kept the easy money flowing from the GSEs to Countrywide, and Countrywide reciprocated to key senators with favorable treatment,” Wilson explained.

“Senator Boxer had no business overseeing the ethics panel against Dodd and Conrad for their own Countrywide loans when she had multiple refi’s from Countrywide during the same period Dodd and Conrad did. Boxer should have recused herself,” Wilson concluded.

Attachments:

Senator Boxer’s Alameda County Property, 2002, at http://washingtonalert.org/wp-content/uploads/2010/09/BoxerAlamedaCountyProperty.pdf

Complaint to Senate Ethics Committee, October 25th, 2010, Foundation for Ethics in Public Service.

Complaint to U.S. Attorney General Eric Holder, October 25th, 2010, Foundation for Ethics in Public Service.

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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ALG Statement on SEIU-controlled Voter Machines in Clark County, NV

October 26th, 2010, Fairfax, VA—Americans for Limited Government (ALG) President Bill Wilson today issued the following statement in response to news reports that voters in Boulder City, NV found that Harry Reid’s name was automatically checked off on the ballot:

“It is positively outrageous that in Clark County, Nevada, the SEIU Local 1107, which supports Harry Reid, controls the ballot boxes by contract through their representation of the voting machine technicians. It is not surprising that Senator Harry Reid’s name was automatically checked off on the ballot when individuals went to vote.

“The U.S. Attorney’s Office, the Nevada State Attorney General, and the U.S Marshalls need to act now to ensure that the SEIU does not continue to compromise the integrity of ballots in Nevada, and anywhere else in the country. The democratic process is too precious to be tampered with and abused.”

Attachments:

The SEIU, Harry Reid, And Voting Problems, by Adam Bitely, NetRightDaily.com Editor-in-Chief, October 26th, 2010.

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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ALG and Lamborn Call for More Cosponsors to Defund Public Broadcasting

October 25th, 2010, Fairfax, VA—Americans for Limited Government (ALG) President Bill Wilson today renewed his call for members of Congress to cosponsor legislation by Representative Doug Lamborn (R-CO) that would defund the Corporation for Public Broadcasting, the parent company of National Public Radio.

So far, only 19 House members out of 435 have signed on as cosponsors for HR 5538, all House Republicans. “19 cosponsors is not nearly enough,” said Wilson. “The budget will never be balanced, and the $13.6 trillion debt never paid down, if members cannot cut unnecessary spending from the budget like the Corporation for Public Broadcasting.”

“House members need to show the courage of their convictions, and cosponsor Representative Lamborn’s bill to defund the Corporation for Public Broadcasting,” Wilson added.

In an exclusive interview with Americans for Limited Government, Lamborn said he needs the help of the American people to persuade members to sign on. “People need to contact their congressmen and say ‘Cosponsor HR 5538 to defund the Corporation for Public Broadcasting’,” Lamborn said.

Lamborn blasted NPR over the firing of Juan Williams: “We see now with the Juan Williams fiasco that they’re not a neutral news organization. They have a left-leaning bias.”

Lamborn continued, “But even more than that, even if they were neutral, why should taxpayers spend $420 million a year to the Corporation for Public Broadcasting, which is the parent of NPR, when it could survive on its own? It could be out there in the private marketplace, and compete along with everyone else. Why should government be in the broadcasting business at all?”

Wilson agreed, saying, “The Corporation for Public Broadcasting only gets about 13 percent of its total budget from federal taxpayers, which the corporation itself is quick to point out. They can finance themselves via donations, or move toward a profit model if they choose, but taxpayers should not be obligated to pay for programming which does not treat all sides fairly.”

ALG launched a national petition drive last week to defund public broadcasting in the wake of National Public Radio’s firing of Juan Williams. The petition is at: www.defundpublicbroadcasting.org.

Background:

Defund Public Broadcasting Once and For All,” by ALG President Bill Wilson, October 25th, 2010.

ALG Praises Boehner’s Call to Defund Public Broadcasting, October 22nd, 2010

Where to cut, you ask?” Video by Frank McCaffrey on Doug Lamborn’s legislation, October 19th, 2010.

The Bare Minimum,” by Rick Manning, ALG Communications Director, October 20th, 2010.

Time to Stop Funding Luxuries, Like Public Broadcasting,” by Rebekah Rast, ALG News Contributing Editor, June 14th, 2010.

Is Public Broadcasting Hurting the Arts?” by Robert Romano, ALG News Senior Editor, June 15th, 2010.

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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ALG Praises Boehner’s Call to Defund Public Broadcasting

October 22nd, 2010, Fairfax, VA—Americans for Limited Government today praised House Republican Leader John Boehner for calling for an end to taxpayer funding of public broadcasting in the wake of National Public Radio (NPR) firing news analyst Juan Williams.

In an interview with National Review Online, Boehner said, “Washington is borrowing 37 cents of every dollar it spends from our kids and grandkids. Given that, I think it’s reasonable to ask why Congress is spending taxpayers’ money to support a left-wing radio network — and in the wake of Juan Williams’ firing, it’s clearer than ever that’s what NPR is.”

“We need to face facts — our government is broke,” Boehner added.

With a $13.6 trillion national debt, and the Obama Administration proposing to raise it by approximately $1.06 trillion every year for the next ten years, ALG’s Wilson is emphatic about getting the nation’s balance sheet in order. He believes public broadcasting is the right place to start.

“If Congress cannot cut public broadcasting when we must balance the budget, it cannot cut anything,” Wilson said, adding, “John Boehner is right. We are broke. The real reason behind QE2 is that the Treasury could be facing approximately a $630 billion shortfall in treasuries auctions every year for the next three years. If we can barely pay the bills as is, why are we borrowing and printing money to pay for luxuries like public broadcasting?”

Wilson called for “an immediate end to funding for public broadcasting that has not already been disbursed” and renewed his call for members of Congress to cosponsor legislation by Representative Doug Lamborn that would defund it permanently. Currently, the Corporation for Public Broadcasting receives about $420 million annually from taxpayers in the federal budget.

Wilson said that the Juan Williams firing “reveals the real, radical agenda behind public broadcasting,” adding, “Williams’ discriminatory firing is a perfect, perhaps prime reason why there shouldn’t even be public broadcasting. The government has demonstrated time and again that it is an intolerant force with no ability nor willingness to respect alternative viewpoints.” Wilson noted that Williams was fired “merely for expressing his opinions.”

In an interview with FOX News’ Bill O’Reilly, Williams said “when I get on a plane, I got to tell you, if I see people who are in Muslim garb and I think, you know, they’re identifying themselves first and foremost as Muslims, I get worried. I get nervous.”

Wilson noted that Williams “is entitled to his honest opinion. In the same interview, his broader point was that you had to distinguish between Muslims of faith and terrorists killing in the name of religion. He was explaining in an honest way his own personal struggle to overcome fear in the wake of the 9/11 attacks to make that point. For that, he was fired.”

“Williams was not even on NPR when he said it. How could he violate their so-called ‘editorial guidelines’?” Wilson added. Writing for FOXNews.com, Williams called it “a chilling assault on free speech. The critical importance of honest journalism and a free flowing, respectful national conversation needs to be had in our country. But it is being buried as collateral damage in a war whose battles include political correctness and ideological orthodoxy.”

Williams added, “I say an ideological battle because my comments on ‘The O’Reilly Factor’ are being distorted by the self-righteous ideological, left-wing leadership at NPR.”

“NPR has engaged in blatant viewpoint discrimination,” Wilson explained. “They are more like a limited public forum than an agency with strict communications guidelines for who can speak for the agency, because they are a public broadcaster. They are obligated under the First Amendment to allow and tolerate alternative viewpoints. They cannot fire somebody simply over a matter of personal opinion.”

Wilson said that Williams “could sue under the First Amendment for discriminating on the basis of his viewpoint, but that may be besides the point.”

Wilson concluded, “This is censorship of the first order by a public agency. Given their track record, I’m not even going to pretend that the Corporation for Public Broadcasting could ever be reformed to be viewpoint neutral. They are a radical, ideological propaganda unit, and Congress has a responsibility to cut off their funding. They are discriminating against honest journalists, and taxpayers should not be compelled to finance its ideological, one-sided political agenda. Besides, we cannot afford it.”

Background:

“Where to cut, you ask?” Video by Frank McCaffrey on Doug Lamborn’s legislation, October 19th, 2010.

“The Bare Minimum,” by Rick Manning, ALG Communications Director, October 20th, 2010.

“Time to Stop Funding Luxuries, Like Public Broadcasting,” by Rebekah Rast, ALG News Contributing Editor, June 14th, 2010.

“Is Public Broadcasting Hurting the Arts?” by Robert Romano, ALG News Senior Editor, June 15th, 2010.

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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ALG Urges Congress to Reject $1 trillion Omnibus Spending Bill, Return Spending to 2008 Levels

October 19th, 2010, Fairfax, VA—Americans for Limited Government President Bill Wilson today urged members of Congress to “reject a $1 trillion omnibus spending package planned for the lame duck session, and to instead return spending levels to 2008, pre-bailout, pre-‘stimulus’ levels.”

“While members of Congress keep saying ‘yes’ to more unsustainable spending, ‘yes’ to more earmarks, and ‘yes’ to more special favors for special interests, the American people are saying enough is enough,” Wilson said.

Wilson demanded that members of Congress and candidates “tell voters what their position on this $1 trillion spending bill is — before the election takes place. The American people have a right to know if candidates support bankrupting the nation further, because the final vote will not be until after the election.”

Congress has failed to pass a budget for the 2011 fiscal year, and the federal government instead is operating on a continuing resolution that expires December 3rd. The lame duck session begins on November 15th.

“After the election, Congress will have about a week to force another trillion dollar spending bill down the throats of the American people. It’s up to members to stand in the way, and demand a real budget that finally downsizes this bloated, indefensible budget,” Wilson noted.

“This Congress couldn’t do a budget in one year, now they want to do it in one week. The American people need a real budget process that carefully examines the nation’s priorities, cognizant that there are finite resources to go around. Printing and borrowing another trillion dollars to finance Congress’ spending addiction is not an option,” Wilson said.

For 2010, the budget deficit was over $1.3 trillion, and the national debt has now risen to over $13.6 trillion. The annual budget currently stands at over $3.5 trillion.

“No more trillion dollar spending bills,” Wilson declared. “This is one of the things that has the American people infuriated with Nancy Pelosi and Harry Reid’s Congress.”

House Republicans have proposed a return to 2008 spending levels in their “Pledge to America.” Wilson said that the GOP proposal is “a good start. We need to return to a regular budget that eliminates TARP, ends the GM, Chrysler, Fannie, and Freddie bailouts, and puts the failed ‘stimulus’ out of its misery.”

“At a bare minimum, that is where we must start, but we harbor no illusions. It’s not nearly enough,” Wilson warned, saying the nation was risking defaulting on its debts.

“It is time for Congress to restore fiscal sanity to Washington, before it’s too late. We are facing a likely downgrade of our credit rating, and may ultimately default on our obligations. Congress needs to take a pair of scissors to the budget and finally cut things out that we don’t need,” Wilson explained.

“Barack Obama wants to grow the national debt by $1.06 trillion every year for the next ten years according to his own proposed budget. Only Congress can stop him from bankrupting our great nation,” he added.

Wilson concluded, “The American people cannot afford to find out what happens if Barack Obama is handed another blank check by this Congress.”

Background:

“U.S. Credit Rating Deserves to Be Downgraded,” ALG President Bill Wilson, August 30th, 2010.

“The Futility of Printing Money,” ALG President Bill Wilson, October 7th, 2010.

“The $15 Trillion Debt Cap,” ALG President Bill Wilson, September 19th, 2010.

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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ALG Blasts Representative Bill Owens for $2.5 Trillion ObamaCare, $154 Billion States Bailout Votes

October 12th, 2010, Fairfax, VA—Americans for Limited Government (ALG) President Bill Wilson today blasted U.S. Representative Bill Owens (D-NY23) for “being a reliable vote for Nancy Pelosi when it counted to get massive pieces of legislation across the finish line.”

“Bill Owens cannot hide from his record. Bill Owens voted for the $2.5 trillion ObamaCare three times, and even voted for a $154 billion bailout of bankrupt states like New York and California,” Wilson declared.

“Because of Bill Owens’ support of ObamaCare, Americans will lose their private health care options and increasingly be forced onto Medicaid, the costs of which will bankrupt the public treasury,” Wilson explained.

“The American people have lost their right to choose their own health insurance because Bill Owens supported ObamaCare,” Wilson added, pointing to the individual mandate that will force all Americans to purchase health insurance come 2014.

“When Nancy Pelosi needed him, Bill Owens was there to pass ObamaCare, within hours of being sworn in,” Wilson noted.

“The fact is, Bill Owens has been unable to stop anything in the Pelosi agenda,” Wilson noted. “Owens had a choice to stand with the American people against government overreach, but instead voted to take away their private health care options and to bankrupt the nation.”

“Bill Owens’ votes to bankrupt the treasury show all to see exactly who and what he is: an Obama-Pelosi groupie,” Wilson concluded.

Background:

Owens Voted “Yes” for ObamaCare, 1st time
http://clerk.house.gov/cgi-bin/vote.asp?year=2009&rollnumber=887

Owens Voted “Yes” for a $154 billion bailout of bankrupt states like New York and California
http://clerk.house.gov/evs/2009/roll991.xml

Owens Voted “Yes” for ObamaCare, 2nd time
http://clerk.house.gov/evs/2010/roll165.xml

Owens Voted “Yes” for ObamaCare Reconciliation
http://clerk.house.gov/evs/2010/roll167.xml

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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ALG Statement on Latest Unemployment Figures

October 8th, 2010, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following status on the worsening unemployment situation in the U.S.,with the rate remaining at 9.6 percent and underemployment rising to 17.1 percent:

“September marks the 17th straight month that unemployment has been at or above 9.4 percent—the longest period of time of sustained unemployment since the Great Depression. The Pelosi-Reid big government stimulus programs have failed. They have failed the working families of America miserably while saddling our children and grandchildren with a mountain of debt.”

Click here for your FREE broadcast quality download:

www.getliberty.org/files/Wilson_unemployment1.mp3

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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