Obama caves to the Chinese

Last month, the Obama Administration diplomatically wounded Britain, insulted Israel, chided Canada, and furthered the contempt of France. But while the president is snubbing our allies, he's perfectly content to appease America's rivals and enemies.

Democratic Sen. Arlen Specter, reacting to news that the White House was delaying its report to Congress on whether China is manipulating its currency, told "Fox News Sunday" he's concerned the administration could be missing a chance to help U.S. workers get on a level playing field.

The report was originally scheduled for release by April 15, around the time Chinese President Hu Jintao is visiting Washington for nuclear talks.

"I'm not too happy about a delay," Specter said. "We have a real problem with the Chinese. They are very shrewd and customarily they outmaneuver us. They take our jobs. They take our money and then they lend it back to us and own a big part of America. So let's watch exactly ... what's happening."

Arlen Specter owes his entire political career as a Democrat to Obama and is one of the White House's most dependable allies. If he's making this criticism, then the game is up. Many are speculating that Obama's suck-up is in order to bring China onboard for sanctions against Iran. If that's true, it's the first serious effort Obama has made against the Iranians. Last year, the president almost immediately recognized Mahmoud Ahmadinejad as that nation's president, despite the sham election and the political violence that followed.

The delay is a remarkable turn-of-face from early last year, when the Obama Administration courageously called out the Chinese on currency manipulation. Tim Geithner unequivocally said during his confirmation hearing, "President Obama - backed by the conclusions of a broad range of economists - believes that China is manipulating its currency." Now the president may be willing to cover all that up rather than act unilaterally against Iran.

New York Fed covered up junk loans under Tim Geithner

When Barack Obama appointed Tim Geithner to be his treasury secretary, concerns flew that the president was once again rewarding failure. Geithner was the former head of the New York Federal Reserve, which was responsible for watching over some of the country's largest banks. Now we know that Geithner not only failed, but was complicit with the very banks he was supposed to regulate.

As Lehman Brothers careened toward bankruptcy in 2008, the New York Federal Reserve Bank came to its rescue, sopping up junk loans that the investment bank couldn't sell in the market, according to a report from court-appointed examiner Anton R. Valukas.

The New York Fed, under the direction of now-Treasury Secretary Tim Geithner, knowingly allowed itself to be used as a "warehouse" for junk loans, the report says, even though Fed guidelines say it can only accept investment grade bonds.

Meanwhile, the Fed and Geithner both strongly oppose a congressional measure to authorize an independent audit of the central bank and its lending facilities. The provision passed the House but is under attack in the Senate, where Banking Committee Chairman Chris Dodd (D-Conn.) says he hopes to stop it.

So before the federal government initiated its bailout, Geithner violated Fed rules and used New York taxpayer money to try to save Lehman Brothers. All this was done in the service of a bank that was going to fail anyways.

When Congress came looking for answers, the New York Fed and Geithner shrouded themselves with secrecy. The bill to audit the Federal Reserve gained 313 sponsors in the House before it passed overwhelmingly. But senators are often more vulnerable to special interests than congressmen. Chris Dodd opposes the bill largely because of his incestuous relationship with major banks, which have contributed millions to his election campaigns. Whether the Senate will ultimately side with taxpayers or with Geithner has yet to be seen.

You can read more about the effort to audit the fed and expose Tim Geithner here.

GE: We bring evil to life!

Remember those commercials from the 1980s that showed average Americans using General Electric products while a singer crooned in the background, "GE: We bring good things to life"? They've come a long, long way.

Yesterday we reported on Obama's incestuous relationship with GE which gets kickbacks from BHO by supporting his agenda. Today brings news that Treasury Secretary Tim Geithner and crazed Climate Change Czar Carol Browner are hunkered down in a meeting with lobbyists. The subject is how to bring the president's failing cap-and-tax bill back to life. Only two CEOs attended the meeting, and one was GE's Jeffrey Immelt.

Yes, the most transparent administration in American history is holding closed-door meetings with powerful CEOs to discuss how to screw over the rest of it. Immelt has good reason to support the cap-and-tax nonsense. GE's so-called "green business" made the company $17 billion in 2008, a 21% increase over the previous year. (Numbers for 2009 are not yet available.) Most recently, GE secured a $1.4 billion contract to build a 30 square mile wind farm in Oregon, the largest on the planet.

Meanwhile GE continues stroking Obama's back. Last night, MSNBC talking head Keith Olbermann nearly lost his cookies attacking conservatives who disagree with Obama on global warming.

It's all about money. Follow it, and you'll usually find Barack Hussein Obama lurking somewhere in the shadows. Now, thanks to his administration, GE has gone from being a company as American as apple pie to a rotten apple carrying out the will of the state.