blank

Archive | August, 2012

How are those “unclenched” fists working out for ya?

While the Department of Homeland Security is on the prowl for right-wingers and returning veterans, Iran has been assiduously plotting and executing a myriad of terrorist attacks.  According to the State Department:

“We are increasingly concerned about Iran’s support for terrorism and Hezbollah’s activities,” said Daniel Benjamin, the State Department’s counterterrorism chief, adding that both appear to have stepped up their terrorist activity in the past year and “are engaging in their most active and aggressive campaign since the 1990s.” The U.S. views Hezbollah of Lebanon as a proxy of Iran.

The U.S. has accused Iran’s elite Quds Force of plotting to kill the Saudi ambassador in Washington—Iran denied the charge—and the U.S. and other countries have accused Iran of backing recent plots against Western and Israeli targets in Azerbaijan, Thailand, India and Kenya. Israel has accused Hezbollah of a recent attack on Israeli tourists in Bulgaria, though U.S. officials have only said the attack bore some hallmarks of Hezbollah.

Iran also has allowed al Qaeda members to move money and operatives through Iranian territory to South Asia, the report said. Iran has denied any connection with al Qaeda.

So much for engaging with the Mullahs…

 

0

Dodd-Frank: A Not-So Happy Anniversary

If you haven’t read it already, Jeb Hensarling has an op-ed in the Wall Street Journal lamenting the two year anniversary since the Dodd-Frank “reforms” were signed into law.  Not only does the piece properly identify what caused the housing bubble and the 2008 financial crisis but it also states components of the law that institutionalize the “too big to fail” mentality and how Obama’s favorite pet, the Consumer Financial Protection Bureau, now has the authority to ration credit.  The piece is as parsimonious as it is concise, making it great intellectual ammunition for the defense of free markets and damning government intervention in banking.  Here’s a sample:

Perhaps most harmful, Dodd-Frank has codified into law a taxpayer-funded safety net for institutions deemed too big to fail—the Orderly Liquidation Authority, which the Congressional Budget Office predicts will cost taxpayers tens of billions of dollars. In downgrading the credit ratings of the nation’s largest banks last month, Moody’s explicitly stated that its ratings still reflect an assumption “about the very high likelihood of support from the U.S. government for bondholders or other creditors in the event that such support is required to prevent default.” So much for ending taxpayer-funded bailouts. And when we lose our ability to fail, we will soon lose our ability to succeed.

Click here to read the whole thing!

0