Schoolyard Brawl between Dems: Obey and Waters in yelling match on floor – Waters D-CA shoved Obey D-WI? Pulled apart by fellow members….

Glenn Thrush has it:

House Appropriations Committee Chairman David Obey (D-Wisc.) and Rep. Maxine Waters (D-Calif.) engaged in a late afternoon shouting match on the House floor after Obey reportedly rebuffed Waters on a $1 million earmark request, aides and witnesses said.

Witnesses, speaking on condition of anonymity, said it appeared that Waters pushed or shoved Obey.

The pair were seen shouting at each other and had to be separated by members — who were gathered on the floor casting final votes before heading off to a party at the White House.

Waters, according a Democratic staffer familiar with the situation, approached Obey to ask him to fund one of her longstanding earmarks, the Maxine Waters Employment Preparation Center.

Obey — who irked Waters a few weeks back by banning “Monuments to me” funding projects named after the politicians that earmark them — told her no, emphatically enough to be heard across the chamber.

I’m not going to approve that earmark!” Obey shouted.

The two veteran Democrats — each pugnacious and 71 years old — began shouting, with the L.A. area-Congresswoman following Obey around the chamber, reportedly suggesting he channel the vocational money through a local school district.

At some point, they collided, witnesses say, with one Obey ally claiming the lean Waters “tried to shove” the stout Obey.

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June 25, 2009. Tags: , , , , , . Entertainment, Finance, Music, Obama Administration, Politics, Popular Culture. Comments off.

Rep. Maxine Waters (D-CA) and Rep. Corinne Brown (D-FL) talk smack about the NBA Finals..

Maxine Waters and Corrine Brown talk about the NBA Finals between the LA Lakers and the Orlando Magic.

June 4, 2009. Tags: , , , , , . Entertainment, Politics, Popular Culture. 1 comment.

Fair Lending, Mortgage Modifications, Bank Regulation…

I knew Maxine Waters D-CA wouldn’t let me down

Barney Frank D MS, asks them not to foreclose on anyone while we are in the last few weeks before the new mortgage modification plan comes from Geithner

and MiM fave Carolyn Maloney D NY tries to get down to brass tacks on the BofA Merrill Bonus fiasco:

February 11, 2009. Tags: , , , , , , , , , , , , , , , , , , , . CITI, citigroup, Economy, FDIC, Finance, Foreclosures, Housing, Labor Department, Politics, Popular Culture, TARP, Unemployment Statistics, Wall St. 1 comment.

DOW closes down 380…Misery Loves Company…a toast for all the Homeowners of America….

First the clip of Kanjorski I mentioned earlier is up! from Pelosis youtube channel no less

And a toast for all the homeowners under water b/c a bunch of maroons thought they were real estate kings and tanked the housing market…We wait with bated breath for a HOUSING PLAN from our sooper geniuses,

MiM raises a glass to all of us, may the housing values rise to meet us and the wind be at our backs, heh the good news is our Congress Critters are awake and asking questions..bad news is Treasury and Team Obama  are verrrry slooooow rolling out the housing plan perhaps due to this increased attention…

anyway for America after another day being told both that its a damn crisis AND that they have no plan for banking or housing ready yet, I say it’s Miller Time..its a heartache counting on politicians I should know better by now….oh good GAWD now a newsflash on CNBC XM SIRI talking about CH 11, FRAK! Well that’s another loss on the ole tax return,  and the hits keep comin!! sing it Bonnie!!

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February 10, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , . Cabinet, CITI, citigroup, Economy, Finance, Foreclosures, Housing, Labor Department, Music, Obama Administration, Politics, Popular Culture, TARP, Uncategorized, Unemployment Statistics, Wall St. Comments off.

2009-1-21 Nightline – Maxine Waters vs Refinancers

Rep Maxine Waters D CA tries to help her constituents..

From Rep Waters YouTube channel:  Even a Congresswoman can’t get satisfaction from mortgage refinancers.It is not about getting a live person. It is about getting a live person that can actually do something.

Vodpod videos no longer available.

more about “2009-1-21 Nightline – Maxine Waters v…“, posted with vodpod

February 4, 2009. Tags: , , , , , , , , , , . Economy, FDIC, Foreclosures, Housing, Politics, TARP. Comments off.

CITI tries to raise cash…PEBO to keep Kashkari on for TARP…(Congressional Critters Heads explode/snark off)

Well, this is unbelievably tone-deaf IMO. They are off their game at Camp PEBO…Congressional Dems (or GOP for that matter) cant STAND Kashkari or anything having anything to do with Paulson and the switch n bait anything but housing approach of TARP. It needs a new face, and Geithner and Summers ain’t new. Send Sheila Bair, we all love Sheila Bair :0)

From WSJ:

Timothy Geithner, President-elect Barack Obama’s pick for Treasury Secretary, has asked Neel Kashkari and James Lambright to remain with the Obama team for several weeks to assist with the transition, these people said.

The decision to keep two members of Treasury Secretary Henry Paulson’s team, even for a short period, could rile lawmakers angry over Mr. Paulson’s handling of the $700 billion bailout. The Obama administration is working to revamp the financial rescue and erase some of the stigma associated with the bailout.

Oops! no idea how that got in there, maybe b/c Prince John and Cousin Hiss remind me of Hank Paulson and Neel Kashkari…..(courtesy of Walt Disney and loubear)

Paulson and later the ever-polite, self-effacing henchman Kashkari (another Golden Slacks, I mean Goldman Sachs executive) who appeared on the Hill with absolutely no good reason why they would not implement Sheila Bair’s (of FDIC) housing plan…

Wow, really, this is in error. Just today Barney Frank was appearing on CNBC, see our video sidebar, talking about the implementation of new harsh requirements to access TARP Tranche Deux by the incoming Administration.

They were burned BAAAD in the long con by Hank and now they have to see Kashkari again? We need the damn thing to pass! Oh good gawd, anything Kashkari presents is going to be slammed down HARD by these Congress Critters and who the hell can blame them?

(more videos of Kashkari before Congress after the break)

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January 9, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , , . Cabinet, CITI, citigroup, Economy, FDIC, Finance, Foreclosures, Hillary Clinton, Housing, Labor Department, Obama Administration, Politics, TARP, Unemployment Statistics, Wall St. 3 comments.

Treasury double speak: TARP tranche deux access without hearings…

IMO this ROY is to soothe worried bankers that more is available,  not to actually use it or even get access, just to LOOK like they are, although with Hank who the hexx knows he changes like the wind. (Video update Hank tells Bartiromo 3 days ago he doesnt need TARP two..) .but I think this is all window dressing for markets to keep calm….recall last time Hank said he is done with TARP we fell off a cliff in the markets…

Post Big 3 loan announcement and the knowledge that TARP tranche one is now empty….Treasury is floating a rumor that they plan to ask PEBO/Congress for access to tranche Deux ..

UPDATE: Video ..Steve Liesman reports..

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December 19, 2008. Tags: , , , , , , , , , , , , , , , , , . Cabinet, Economy, FDIC, Finance, Foreclosures, Housing, Labor Department, Obama Administration, Politics, Popular Culture, TARP, Unemployment Statistics, Wall St. 2 comments.

Barney Frank defends FDIC Sheila Bair against the ‘Old Boys Club’

Barney Frank (D-MA) has discovered an Old Boys Club and he is calling them to the carpet..

REGULATION - SUMMIT /

Tim Geithner has apparently decided to make a power move and try to force out Sheila Bair, the current head of the FDIC who is slated to hold that role until 2011. One of the reasons her role (as well as head of the FED Bernanke), goes 2 years beyond our POTUS elections, is for continuity, but Tim, (who was in the room for such great masterpieces as the AIG nightmare and the decision to allow Lehman to fail), wants to push her out now…

from Bloomberg: …Timothy Geithner, President-elect Barack Obama’s choice for U.S. Treasury Secretary, is seeking to push Federal Deposit Insurance Corp. Chairman Sheila Bair out of office.

Geithner, president of the Federal Reserve Bank of New York, has argued Bair isn’t a team player and is too focused on protecting her agency rather than the financial system as a whole, according to two congressional officials and a person familiar with his thinking. Bair has battled with Geithner and fellow regulators over aid to Citigroup Inc. and other emergency actions, making her enemies in the Bush administration…

Sheila Bair is covered extensively in another piece we did here

Sheila has been pushing for immediate action on her FDIC loan modification plan, and several Congress Critters are in her corner, and challenged Kashkari and Paulson to enact her recommended plan at the last series of hearings.

Bair, a staunch proponent of using TARP funds for foreclosure mitigation, has been under fire from the Bush Administration and Hank Paulson for pushing her plan forward. She has been invited to testify before Congress directly, when Paulson and Bernacke failed to bring her along themselves to discuss TARP.

Maxine Waters D-CA, Barney Frank, Nydia Velazquez D-NY in particular all noted that Sheila has a plan and Treasury and the Fed are refusing to enact it while housing continues to tank…(as I speak I hear Cramer on CNBC saying Bair needs to stay in and Tim is wrong wrong wrong (caveat Cramer didnt like Geithner for the Treasury role)

So here is a toast to Barney Frank, the Chair of the House Financial Services Cmte, who today gave a speech decrying Geithner’s apparent calls for Sheila Bair’s replacement (and discovered the Old Boys Club operating under his nose, this one is for the No Shxt Sherlock files)

We have already gone over Ms Bair’s incredible resume and her dedication to what is best for the economy and the consumer, and her sheer GRIT in pushing the agenda forward against all odds.

Today, Barney Frank came right out and pushed for Bair to not only hold her post thru 2011 as she is slated to do (she has offered to step aside should Obama want to replace her) but that she should in fact stay on beyond that date and be given a larger portfolio. RIGHT ON!! Politico has the scoop:

…Congressional Democrats — Frank first among them — on the other hand have heaped praise on Bair, a Republican, for her advocacy of foreclosure prevention, which she distilled into a proposal to use taxpayer money to refinance more than a million troubled mortgages. She has suggested that some of the $700 billion be used to fund her plan.

Needless to say, any decisions regarding Bair’s career that are seen as punitive could hurt Geithner — and Obama — on the Hill at a time when congressional cooperation is desperately needed to quickly move Obama’s economic proposals once he takes office.

Frank credited the current resistance to doing more about foreclosures to ruffled male feathers. “I think part of the problem now is that, to be honest, Shelia Bair has annoyed the Old Boys Club.” He likened the situation to several regulators “up in the treehouse with a ‘No Girls Allowed’ sign.”

Bair should retain her FDIC post in the Obama administration and even be given a “broader role in helping to formulate policy on mortgage foreclosures,” Frank told reporters after his speech.

As for how Obama is handling things, Frank went one step farther and said he needs to take a more FIRM stance NOW:

…Voicing his well-known frustration with Treasury Secretary Henry Paulson and other officials for resisting calls to use funds from the $700 billion bailout package to combat foreclosures, Frank said lawmakers are being told that the back-and-forth consultations with the Obama transition team has delayed consideration of such actions.

“I’m a great fan of the president-elect, but I think it’s probably the case that he’s going to have to be more assertive than he’s been,” Frank said, addressing the Consumer Federation of America’s annual financial services conference. “And I know what he says is ‘Well, we only have one president at a time. My problem is, at a time of great crisis and [massive] mortgage foreclosures. … I am afraid that overstates the number of presidents.”..

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December 4, 2008. Tags: , , , , , , , , . Cabinet, Economy, FDIC, Finance, Foreclosures, Housing, Obama Administration, Politics, TARP, Wall St. 10 comments.

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