Oh Barney.  I try so hard to hate you, but every once and again you do something like this:

Today, Congressman Barney Frank (D-Mass.) introduced a bill in the U.S. House of Representatives to eliminate all federal penalties for marijuana possession. This came only one week after he also introduced a bill to protect medical marijuana patients.

Would you please take one minute to ask your U.S. representative to support these two bills? MPP’s easy online action center makes it simple — just enter your name and contact info, and we’ll do the rest.

The Personal Use of Marijuana by Responsible Adults Act of 2009 would eliminate the threat of federal arrest and prison for the possession of up to 3.5 ounces of marijuana and the not-for-profit transfer of an ounce of marijuana — nationwide.

What’s more, last week Congressman Frank introduced the Medical Marijuana Patient Protection Act, which would allow states to protect medical marijuana patients from arrest and jail without federal interference, as well as allow pharmacies to dispense marijuana to patients with a doctor’s recommendation. You can take action on this bill here.

MPP has worked closely with Congressman Frank’s staff in past months, helping to craft both pieces of legislation and build political support for the proposals on Capitol Hill.

Now members of Congress need to hear from their constituents who want to see it passed — that means you! It takes only a minute or two to use MPP’s online action system to send a quick note to your member of the House, so would you please send your letter right now?

Eliminate threat of federal arrest and prison for marijuana possession

Protect medical marijuana patients nationwide

News blurb courtesy of the MPP.  Help us out, take action now!

And this is the asshat who heads the finance committee in the House of Representatives. Who needs to drop dead (or at least leave Congress) for Ron Paul to get that position? I need to start praying to the atheist god for a favor.

His voice and attitude are so grating. Have you heard him in the House committee chambers?

The student could have better educated on the topic or at least more forceful. When dealing with a politician you must stand your ground and when it’s one who is so disconnected from reality it’s even a greater necessity.

http://www.nytimes.com/…

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits in the calendar year 2007, an Associated Press analysis reveals.

The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due to lagging bank performance, but still forked over multimillion-dollar executive pay packages.

Rep. Barney Frank, chairman of the House Financial Services committee and a long-standing critic of executive largesse, said the bonuses tallied by the AP review amount to a bribe ”to get them to do the jobs for which they are well paid in the first place.

”Most of us sign on to do jobs and we do them best we can,” said Frank, a Massachusetts Democrat. ”We’re told that some of the most highly paid people in executive positions are different. They need extra money to be motivated!”

Sherman, a member of the House Financial Services Committee, said pay excesses undermine development of good bank economic policies and promote an escalating pay spiral among competing financial institutions — something particularly hard to take when banks then ask for rescue money.

He wants them to come before Congress, like the automakers did, and spell out their spending plans for bailout funds.

”The tougher we are on the executives that come to Washington, the fewer will come for a bailout,” he said.

Wrong Frank. They don’t need extra money to be motivated. They demand large salaries because 1) they can as the government has created the environment for these gigantic companies which are “too big to fail” and 2) because they do a job few people would want.  Why not take some time off of your cushy job with unpaid interns sorting your mail and walk a mile in the private sector?

And Sherman… here’s one for you. “Just say no.” If the government wasn’t offering fist fulls of money to every cronies  they wouldn’t come around. They’d go bankrupt like their supposed to. But you won’t let them fail… so what else do you expect from them? You’ve fed lamb the the dog in the past now dangle more it in front of his face… what the hell do you expect but for him to whine for it?

http://www.reuters.com/…

The New York Times, quoting unnamed government officials, said Treasury was considering taking ownership stakes in many U.S. banks. A Treasury spokesperson could not be reached for comment on the story.

Sure… why not. These people like Barney Frank and Charles Schumer have no problems pushing the government closer and closer to some Nazi / fascist / Soviet communist amalgamation. The police state of the right and the economic totalitarianism of the left. Either these guys are so blinded by their position of power they don’t see this lockstep toward Amero-fascism or they are Manchurian candidates.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aTfNzYM.5Wfk&refer=home

Iceland’s government seized control of Kaupthing Bank hf, the nation’s biggest bank, completing the takeover of a banking industry that has collapsed under the weight of its foreign debt.

Iceland is guaranteeing Kaupthing’s domestic deposits and taking control of banks in an attempt to provide a “functioning domestic banking system,” the country’s Financial Supervisory Authority said in a statement on its Web site today.

The banks are saddled with about $61 billion of debt, 12 times the size of the economy, according to data compiled by Bloomberg.

Twelve times? Sounds huge but I’ve nothing to compare it to.

http://www.bloomberg.com/…

American International Group Inc., the insurer taken over by the government, may access $37.8 billion from the Federal Reserve Bank of New York, in addition to the $85 billion loan that helped it stave off bankruptcy.

AIG can swap as much as $37.8 billion of its “investment- grade, fixed-income securities” for cash to “replenish liquidity” at the New York-based insurer, the Fed said late yesterday in a statement. AIG spokesman Nicholas Ashooh said the assets were held mainly in U.S. life insurance subsidiaries and declined to say how much of the new program has been used.

“You’re in for a dime, you’re in for a dollar on this one,” said David Havens, a credit analyst at UBS AG. “The core problem is liquidity as opposed to solvency, though as the businesses deteriorate and adverse economic conditions take hold, solvency will also become more of an issue.”

The problem is liquidity as opposed to solvency? Sounds familiar. Sorry gentlemen but not having the liquidity to pay for one’s debts is insolvency:

A business may be cash flow insolvent but balance sheet solvent if it holds illiquid assets, particularly against short term debt. Conversely, a business can have negative net assets showing on their balance sheet but still be cash flow solvent if ongoing revenue is able to meet debt obligations, and thus avoid default – for instance, if it holds long term debt.