« San Francisco Chronicle may shut down | Main | Junk Economics »

Barney Bombs Obama's Bank

House Financial Services Committee Chairman Barney "I'm the boss of you" Frank (D-MA) worked himself into a serious snit yesterday when he demanded that Northern Trust (President Obama's bank and mortgage holder), arguably one of the most well capitalized and profitable of the TARP funded banks, return to the government the money the bank spent on entertaining clients at the Northern Trust Open last week.

Frank, along with several other similarly obtuse congressmen, sent a letter to Northern President Frederick H. Waddell scolding and shaming him for spending tax payer funds on business development. (Never mind that Northern actually makes a profit or that the bank was brow beaten into taking the TARP funds. Never mind that the Northern sponsorship of the tournament, which they contracturally agreed to two years ago, has resulted in millions of charitable donations to Los Angeles inner city outreach programs).

This is the new face of Government for businesses that choose to take on Congress as a financial partner. If there were any doubts as to how federal intervention in the private markets would play out they should be gone now. Barney and his buddies are the boss now. Not satisfied with scolding bankers about private jets, the massive egos of Frank & Co. want to micromanage every aspect of these banks.

This incident should be submitted as Exhibit A when taxpayers start complaining about the types of cars Detroit produces after their new Congressional masters finish with that bailout.


TrackBack

TrackBack URL for this entry:
/cgi-bin/mt-tb.cgi/34603.

Listed below are links to weblogs that reference Barney Bombs Obama's Bank:

Comments (10)

This will come up again whe... (Below threshold)
Pretzel Logic:

This will come up again when Rezko has to talk under oath about all the wonderful things he did for Barry and Michelle.

And the left wants these cl... (Below threshold)
WildWillie:

And the left wants these clowns to manage health care. What loons. ww

Of course, Barney wouldn't ... (Below threshold)
hermie:

Of course, Barney wouldn't be so nasty if a few of those TARP dollars made their way into his campaign coffers.

That's how he did it with Fannie Mae and Freddie Mac and there were no financial problems with them ... Barney said so!

Hey Barney, we are the boss... (Below threshold)

Hey Barney, we are the boss of you!

Why don't you give us back some of OUR money.

What about he special loans you got? What about the junkets? What about all the money you stole as a salary that you did not earn?

What a maroon!

http://franklinslocke.blogspot.com/

This incident shou... (Below threshold)
Mac Lorry:
This incident should be submitted as Exhibit A when taxpayers start complaining about the types of cars Detroit produces after their new Congressional masters finish with that bailout.

No need to wait, here's a preview of the 2011 Chevy Trabant with optional rally package.

Thank GOD I'm a Ford man, a... (Below threshold)
ExSubNuke:

Thank GOD I'm a Ford man, and they didn't need the bailout.

"And the left wants these c... (Below threshold)
JLawson:

"And the left wants these clowns to manage health care."

LOL. What could POSSIBLY go wrong?

"Hey Barney, we are the bos... (Below threshold)

"Hey Barney, we are the boss of you!

Why don't you give us back some of OUR money.

What about he special loans you got? What about the junkets? What about all the money you stole as a salary that you did not earn?

What a maroon!"

Great comment.

This is the problem with politicians. They are very generous with other people's money, and they use it to garner more power for themselves. They complain about corporate greed, but politicians are the greediest guys around. Their greed for power is unparalleled.
http://www.rightklik.net/

Funny stuff indeed. Scott ... (Below threshold)
Ray H.:

Funny stuff indeed. Scott Adams Dilbert strip from today pokes fun of this very topic

http://www.dilbert.com/

So what else dose BARNSMELL... (Below threshold)
Flu-Bird:

So what else dose BARNSMELL FREAK want besides total control of the nations banks?




Advertisements









rightads.gif

beltwaybloggers.gif

insiderslogo.jpg

mba_blue.gif

Follow Wizbang

Follow Wizbang on FacebookFollow Wizbang on TwitterSubscribe to Wizbang feedWizbang Mobile

Contact

Send e-mail tips to us:

[email protected]

Fresh Links

Credits

Section Editor: Maggie Whitton

Editors: Jay Tea, Lorie Byrd, Kim Priestap, DJ Drummond, Michael Laprarie, Baron Von Ottomatic, Shawn Mallow, Rick, Dan Karipides, Michael Avitablile, Charlie Quidnunc, Steve Schippert

Emeritus: Paul, Mary Katherine Ham, Jim Addison, Alexander K. McClure, Cassy Fiano, Bill Jempty, John Stansbury, Rob Port

In Memorium: HughS

All original content copyright © 2003-2010 by Wizbang®, LLC. All rights reserved. Wizbang® is a registered service mark.

Powered by Movable Type Pro 4.361

Hosting by ServInt

Ratings on this site are powered by the Ajax Ratings Pro plugin for Movable Type.

Search on this site is powered by the FastSearch plugin for Movable Type.

Blogrolls on this site are powered by the MT-Blogroll.

Temporary site design is based on Cutline and Cutline for MT. Graphics by Apothegm Designs.

Author Login



Terms Of Service

DCMA Compliance Notice

Privacy Policy