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Will the OWS Protesters Protest Obama's Newest Corporate Government Bank ?

The Wall Street protesters are demanding jobs, not more big bank bailouts, as signs across America have shown us last weekend.

  The Occupiers hate banks, they hate evil corporations and they hate the government manipulators in Congress. ( supposedly) I wonder how they feel about the creation of a brand new government bank created solely for the purpose of politicians stashing away billions of our tax dollars to use for Union payoffs and vote-buying to further empower themselves?  Surely these protesters will speak up against another big corporate government bank stealing tax dollars for their own self-interests, while non-politically connected folks go without jobs, right?  Well, it turns out that these protesters are made to look like simplistic hypocrites when we discover that they, and many of their sister protesters and allies are promoting the very creation of another evil bank, this one run by their government as nothing more than a giant slush fund for the current Liberal rulers in Congress and the White House. What is the name of this bank you ask? Who is creating this bank and how can they get away with it? Have these innocent grassroots protesters been duped ?  I can answer all of those questions in one simple but true statement: The creation of this new bank is hidden in Barack Obama’s American Jobs Act. It is called, The American Infrastructure Financing Authority or AIFA. From bondbuyer.com we see the following explanation:

“The jobs bill would create the American Infrastructure Financing Authority as a wholly owned government corporation that would “provide direct loans and loan guarantees to facilitate investment in economically viable infrastructure projects of regional or national significance,” according to administration officials.” ( emphasis mine)

As we previously discovered that Congress has shown the pattern of  illegally creating their own slush fund/loan sharking banks such as the FFB, it should be noted that nowhere in our Constitution is Congress given the authority to create any banks, or financing authorities. Keeping in mind that many of the Green Energy loans (think Solyndra) were given out by the above-mentioned illegal FFB as an underhanded way to avoid full inspection by Congress and avoid accountability to We the People,  it boggles the mind to see the Wall Street occupiers and sister groups promoting Obama’s fake jobs bill with a new evil banking corporation created right in it.  Low and behold, that proof can be found right here.  The Communist Party USA, The AFL-CIO, Barack Obama’s moveon.org all support Obama’s jobs bill and the Occupy Wall Street protests. In the jobs bill is the creation of an evil corporate bank which is created solely to pay off the biggest Transportation Union in the country, the AFL-CIO.  My what a coincidence!

The Occupiers would surely object to a President who wants to take billions of tax dollars to use as a political slush fund right? Has anyone yet to see any signs at the Occupy Park Benches Across America Union supported protests? How about the fact that the AFL-CIO big Union vote-buying machine is sleeping right next to them while also spending millions of Union dues dollars to promote Obama’s newest evil corporate bank? Will this new bank somehow translate into jobs for the supposed grassroots folks down at Wall Street, as Obama has them  apparently duped into believing? The fact that Obama already took some $836 billion tax dollars in the Stimulus fraud and yet we still see unemployment at 9.1% somehow seems to escape the Occupiers.  If not, they would have signs protesting the next half a billion dollars being stolen to pay back their protest-bed-pals at the AFL-CIO, while creating a new big corporate bank. The creation of the AIFA is a long-term planned theft of tax dollars to pay off Unions, as we see by the mandates for funding in it:

“The bank would be capitalized with a $10 billion congressional appropriation for its first two years. Loans would go to projects of  at least $100 million, or **$25 million** in rural areas. The loan or loan guarantee could finance no more than 50% of the project’s cost. The base interest rate on a direct loan would be at least the rate on Treasury debt with a similar maturity.” ( emphasis mine)

 

First we see that $10 billion tax dollars will be ‘loaned out” in first two years. What about in the future?  Is this a bottomless black money pit? Billions upon billions will continue to be shuffled into this new AIFA “bank” as we see from The Patriot Update:

In its first two years, AIFA would rake in $10 billion in congressional appropriations; $20 billion over the next seven years; and $50 billion per fiscal year after that. How would Obama ensure the loan review process is protected from special interest favor-trading and White House meddling? If the ongoing, half-billion-dollar stimulus-funded Solyndra solar company loan debacle is any indication, the answer is: not very well. (emphasis mine)

In case some of our readers are not familiar as to who exactly will “qualify” for all these new jobs that this “bank” will supposedly create, you need to read the new law created by the Obama administration that now mandates that every single federal construction contract over the above stated **$25 million tax dollars** MUST BE USE UNION LABOR.  Didn’t know that fact? Then read this. The  bottom line is that if the out of work Occupiers do not pay the Unions dues and become a member of  their AFL-CIO- OWS-bedpals , they are locked out of even a chance to get a job from Obama’s jobs bill!  How about it Occupiers?

Instead of chanting “Four more years!, maybe the Occupy protesters  should draw up some signs stating that they are against Obama’s jobs bill which creates the big evil corporate bank AIFA, which is loaded with graft and billions of dollars for their new pal,  Richard Trumka, the current head of the AFL-CIO.  Until we see that, the “Occupy movement”  is nothing more than a bunch of hypocritical nonsense that has been hijacked by the Obama2012 reelection campaign and his Union vote-buying pals. So, lets all head on up to our nation’s capitol and protest Obama’s jobs bill shall we? 

 

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  1. Recycled brown carrier bags are great alternate for plastic
    bags.

  2. maggie says:

    It’s hard to take you seriously if you don’t spell and grammar check. I stopped reading at “Low and behold”.

  3. Anonymous; expect us says:

    A Wall Street protester was promoting the Bank of North Dakota as a model. I have in fact spoken with other protesters about banks and….unanimously all adore credit unions. Erhem. Bank of North Dakota would be in some solid RED STATE country. You know, that odd place where the state budget is balanced.

    I think the idea is anything but Bank of America, et al. We already know too well what damage these guys too big to fail can do. And why the hell have the conservatives not come up with any solutions to this issue? Seems like you own half of the US Congress. And shame on you conservatives for making bongo-playing unemployed rag-tag simpletons figure out a solution to our damn corrupted banking/finance system.

    I’m not up to speed on the proposal mentioned above. I will be soon though.

    As the only state-owned bank in the nation, (charter established in 1919), The Bank of North Dakota acts as a funding resource in partnership with other financial institutions, economic development groups and guaranty agencies. Four established business areas: Student Loans, Lending Services, Treasury Services and Banking Services.

    Deposit Base
    In contrast to most commercial banks, Bank of North Dakota (BND) is not a member of the Federal Deposit Insurance Corporation (FDIC). North Dakota Century Code 6-09-10 provides that all BND deposits are guaranteed by the full faith and credit of the State of North Dakota.

    The deposit base of BND is unique. Its primary deposit base is the State of North Dakota. All state funds and funds of state institutions are deposited with Bank of North Dakota, as required by law. Other deposits are accepted from any source, private citizens to the U.S. government.

    Policy and Governance
    The state Industrial Commission oversees Bank of North Dakota, as mandated by the 1919 state legislature. Members of the Industrial Commission are the Governor, who acts as chairman, the Attorney General and the Commissioner of Agriculture of the State of North Dakota.

    The Bank also has a seven-member Advisory Board appointed by the Governor. The members are knowledgeable in banking and finance. The Advisory Board reviews the Bank’s operations and makes recommendations to the Industrial Commission relating to the Bank’s management, services, policies and procedures.

    • Anonymous; expect us says:

      The hyperbole is difficult to get past but I’m trying: ” The fact that Obama already took some $836 billion tax dollars in the Stimulus fraud and yet we still see unemployment at 9.1% somehow seems to escape the Occupiers.”

      We Occupying protestors probably know something that you don’t about the The $787 billion economic stimulus package approved by Congress. (No clue where you got your number.)

      ….like how the stimulus was spent, for example.

      There was $288 billion spent on tax cuts. What? $288 billion in tax cuts. What? $288 billion in tax cuts. Are you really complaining about Obama’s “spending”… on tax cuts? (?) You’re kidding. We think you’re not being honest with…. yourself…. is what we occupying protesters think.

      Did you know that we protesters know that four (4) independent studies have determined that Obama’s stimulus package did in provide between somewhere between 2 and 3 million jobs, depending upon which of the four (4) independent reports you believe. Yeah. We occupiers know that. Do you? CBO and McCain economic adviser Mark Zandi concluded, the American Recovery and Reinvestment Act (ARRA) as designed succeeded in saving jobs, reducing unemployment and boosting growth. An analysis last August by Zandi and Princeton economist Alan Blinder concluded that the federal government’s actions prevented “Great Depression 2.0.” Do you have any different info that is not just more unsupported assertion and conjecture? Anything more than conservative politicians saying it was less? Even “zero” jobs were created according to Rick “Texas Miracle” Perry. Lol! check this out: http://www.window.state.tx.us/recovery/

      Wait it gets better… in context.

      Perhaps it escapes you… and conservatives…. that under George W. Bush, whose tax cut windfall for the wealthiest 2% produced only…. one (1) million jobs in eight (8) years of his presidency start to finish. Yeah. The worst job creation performance since Hoover. Seriously. But don’t take my word for it. Look it up.

      After that performance Mitt Romney and Jon Huntsman echoed the House Republican “Plan for America’s Job Creators” by proposing to slash the income tax rate income tax rate from 35% to 25% for the people John Boehner described as “the top one percent (1%) of wage earners in the United States…we expect to reinvest in our economy.” …………Right.

      Thar’s is what has not escaped this occupier. For starters. There are many more of us than only my voice.

  4. WE ONLY HAVE OUR SELVES TO BLAME.WE ARE A COUNTRY OF HEAD IN THE SAND PEOPLE.AS LONG AS I AM LEFT ALONE

  5. WillofLa says:

    I literally hate this union collaboration between Obama and these unions. This is pure theft of taxpayers money for purely political purposes. Why won’t someone in the government put a stop to this? And I’m not talking about voting against his jobs bill. We must go much, much further than just voting his jobs bill down, because afterall we have Harry Reid in the Senate, who is Obama’s partner from HELL. And I am convinced now that Reid is totally evil, and is so full of hatred of the American people and our wants and needs that he would do anything to take everything away from us, even our lives.

    I want to see real, active, opposition to this bank from the Republican’s. And you know what? Democrats can see right from wrong if you catch them on a good day. They to can vote against Reid and against bills which would create another monster to be added to Freddie and Fannie, and the Frank/Dodd Finance law, act, whatever the hell it is, because it’s just another scam to that has caused all this protesting. Isn’t it enough for these protesters that if the government sees your corporation getting “to big to fail” that it can come in and take over your business? Do they know anything about the Frank/Dodd bill? Do they know that it stops what the protesters are protesting against? But it does still allow bailouts, but it has to because if it didn’t the banks would reject the premise of the bill taking their ability to make as much money as they want. So Frank and Dodd put in the bill a bail out clause in order to get their cooporation.

    But this bank created to fund that campaign contributions from unions while making sure they get all the over charged money the union would need for fulfilling the demands and requirements of any building contract. You know, like contract over runs? What, to the tune of billions of dollars? As long as it’s over 25 million? That’s a joke!

  6. WillofLa says:

    Other than the fact that we’ve already been through a time when Congress had a bank? They finally got that thing closed down because the Congressmen were so negligent in repaying their personal debt owed to the bank for cashing checks they didn’t have the money to cash(kinda like they do with our money now, huh), that the bank went “bankrupt”. And that was with money owed, to, that was never paid back. Sounds like they handle our tax money, so that means this one won’t be any different with one exception and that is it will be added for something I think is against the law.

    Isn’t taking taxpayer’s money, putting it into a fund for the purpose of buying votes, against the law? Isn’t that called money laundering, shake down money, imbesselment, just being a Chicago gangster like Obama enjoys being? Notice I didn’t say, “acting like”, I said “being” a Chicago gangster. It’s pay off money, buy off money, vote buying money, that belongs to us! I don’t want my money paid to the damn union bosses to buy their votes!!