Research

Freddie Mac Has Placed Bets Which Put Them “Squarely Against The Homeowner”

Freddie Mac Has Placed Bets Against American Homeowners. “Freddie Mac, the taxpayer-owned mortgage giant, has placed multibillion-dollar bets that pay off if homeowners stay trapped in expensive mortgages with interest rates well above current rates. Freddie began increasing these bets dramatically in late 2010, the same time that the company was making it harder for homeowners to get out of such high-interest mortgages.”  (Jesse Eisinger and Chris Arnold, “Freddie Mac Bets Against American Homeowners,” ProPublica, 1/30/12)

• Freddie Could Lose “Substantial Amounts Of Money” If Homeowners Refinance. “In addition to being an instrument of government policy dedicated to making home loans more accessible, Freddie also has giant investment portfolios and could lose substantial amounts of money if too many borrowers refinance.” (Jesse Eisinger and Chris Arnold, “Freddie Mac Bets Against American Homeowners,” ... more
  
  

What Obama Sees And Hears About The Economy…

Obama: “Jennifer, can I ask you what kind of engineer your husband is?”

Jennifer: “He’s a semiconductor engineer.”

Obama: “It is interesting to me – and I meant what I said, if you send me your husband’s resume, I’d be interested in finding out exactly what’s happening right there, because the word we’re getting is that somebody in that kind of high-tech field, that kind of engineer, should be able to find something right away. And the H1B should be reserved only for those companies who say they cannot find somebody in that particular field so that wouldn’t necessarily apply, if in fact, there were a lot of highly skilled American engineers in that position, so I – I –I’d be interested to know – I-I-I will follow up on this.”

(President Barack Obama, “Google+ Town Hall,” 1/30/12)

What America Sees And Hears About The Economy…

Since President Obama Took Office, The Semiconductors And Electronic Components Manufacturing Sector Has Lost ... more

Attorney General Holder Repeatedly Claimed That The Justice Department Had No Knowledge Of “Gun Walking” In “Fast And Furious”

On May 3, 2011, Attorney General Eric Holder Testified To Congress That He Only Became Aware Of “Fast And Furious” “Over The Last Few Weeks” In Spring 2011. (Sharyl Attkisson, “ATF Fast And Furious: New Documents Show Attorney General Eric Holder Was Briefed In July 2010,” CBS News, 10/03/11)

Attorney General Holder Testified That Justice Officials Didn’t Know About “Gun Walking” During Correspondence With Congressional Investigators. “Mr. Grassley and other Republicans also demanded to know more about who had drafted and reviewed a February letter the department sent him saying that ‘A.T.F. makes every effort to interdict weapons that have been purchased illegally and prevent their transport into Mexico.’ Mr. Holder said that the drafters of the letter did not know at the time about the tactics used in Wide Receiver and Fast and Furious.” (Charlie Savage, ... more

More bad news for those who lost their money in MF Global’s bankruptcy just days before the House Financial Services Committee conducts another hearing.

It Is Unlikely The $1.2 Billion Missing From MF Global Customers Will Ever Be Recovered. “Nearly three months after MF Global Holdings Ltd. collapsed, officials hunting for an estimated $1.2 billion in missing customer money increasingly believe that much of it might never be recovered, according to people familiar with the investigation.” (Scott Patterson And Aaron Lucchetti, “Money From MF Global Feared Gone,” The Wall Street Journal, 1/30/12)

• “The Findings So Far Suggest That A ‘Significant Amount’ Of The Money Could Have ‘Vaporized.’” “As the sprawling probe that includes regulators, criminal and congressional investigators, and court-appointed trustees grinds on, the findings so far suggest that a ‘significant amount’ of the money could have ‘vaporized’ as a result of chaotic trading at MF Global during the week before the ... more
  
  

A Tour Of Obama’s Latest Trouble States

Michigan

43 Percent Of Michigan Voters Give The Job Obama Has Done As President A “Positive” Rating While 56 Percent Give Him A “Negative” Rating. (Chuck Stokes, “POLL: Obama Leading In Michigan, Gingrich Gaining On Romney,” WXYZ, 1/26/12)

Florida

52 Percent Of Florida Voter Give Obama A Negative Job Approval Rating, While Just 46 Percent Give Him A Positive Rating. (Quinnipiac University Poll, 1,518 RV, MoE 2.5%, 1/19 -23/12)

• Among Independents, Just 43 Percent Give Obama A Positive Job Approval Rating, While 53 Percent Give Him A Negative Rating. (Quinnipiac University Poll, 1,518 RV, MoE 2.5%, 1/19 -23/12)  

49 Percent Of Florida Voters Say Obama Doesn’t Deserve A Second Term, While 47 Percent Say He Does. (Quinnipiac University Poll, 1,518 RV, MoE 2.5%, 1/19 -23/12)

• Among Independent Voters, 49 Percent Say Obama Doesn’t Deserve A Second Term, While 44 Percent Say He Does. (Quinnipiac University Poll, 1,518 RV, MoE 2.5%, 1/19 -23/12)

... more

GDP Growth Was Worse Than Expected In 2011 And Will Continue To Slow In 2012

2011 Q4 GDP Grew At 2.8 Percent, Less Than Predicted. “Gross domestic product, the value of all goods and services produced, climbed at a 2.8 percent annual following a 1.8 percent gain in the prior quarter, Commerce Department figures showed today in Washington. The median forecast of 79 economists surveyed by Bloomberg News called for a 3 percent increase. Excluding a jump in inventories, growth was 0.8 percent.” (Alex Kowalski, “U.S. Economy Grows 2.8%, Less Than Forecast,” Bloomberg, 1/27/12)

“The Commerce Department Said Friday That The Economy Grew Just 1.7 Percent Last Year, Roughly Half Of The Growth In 2010 And The Worst Since The Recession.” (Martin Crutsinger, “Economy Grew Modest 2.8 Pct. In Q4, Best In 2011,” The Associated Press, 1/27/12)

Growth Is Expected To Decrease To 1.9% In The First Quarter Of 2012. “As a result, most economists expect companies to cut back on inventories in the first ... more

Today, President Obama Will Travel To Michigan To Announce A Plan Focusing On The Costs Of Higher Education. “President Barack Obama will announce Friday a plan to shift some federal dollars away from colleges and universities that don’t control tuition costs and new competitions in higher education to encourage efficiency as part of an effort to contain soaring college costs.” (“Obama To Spell Out Plan To Target Universities That Don’t Control Rising Tuition Costs,” The Associated Press, 1/27/12)

Under Obama, The Costs Of College Is “At An All Time High”

Over The Past Year, The Cost Of College Has Increased By Thousands At Public Universities. “Public four-year universities charged residents an average of $8,244, up 8.3% from last year, while public two-year schools charged an average of $2,963, up 8.7%, says the report by the non-profit College Board. About 80% of the nation’s undergraduates attend public institutions.” (Mary Beth Marklein, “Tuition And Fees Rise More Than 8% At ... more

ObamaCare Created A New National Center To Study Ways To Cut The Costs Of Health Care.  “The Obama administration touts it as a key solution to the nation’s runaway health-care spending: a new national center set up by the 2010 health-care law to test and implement groundbreaking ways to cut costs while improving patient care.” (N.C. Aizenman, “Center For Medicare And Medicaid Innovation Aims To Cut Health-Care Costs,” The Washington Post, 1/26/12)

But Health Care Experts Question The New Center And Its Programs, Pointing To Similar Initiatives  In The Past Forty Years That Have Mostly Failed. “Some health-care experts question how many of these experiments will result in significant savings. They point to a study released by the Congressional Budget Office last week that found that savings were produced in only one of 10 major Medicare demonstration projects tried by administrations since 1967 — all of them similar to initiatives the innovation center has begun.” (N.C. Aizenman, ... more

Today, The Toledo Blade Reports That FirstEnergy Will Close Three Ohio Power Plants Among Others Due To Regulations Imposed By The Environmental Protection Agency (EPA), Threatening Over 500 Jobs. “The Akron-based utility which owns Toledo Edison said it was shutting the facility because of air emission standards being imposed by the U.S. Environmental Protection Agency. In all, FirstEnergy said it would also shut plants in Eastlake, Ashabula, and Cleveland in Ohio, as well as in Adrian, Pa., and Williamsport, Md. The plants collectively produce 2,689 megawatts of electricity and employ 529 workers.” (“FirstEnergy To Shutter Bay Shore Coal-Fired Plant,” The Toledo Blade, 1/26/12)

THE FACTS

Dayton Daily News: “With An Estimated $9.6 Billion Price Tag, The Rules Rank Among The Most Expensive In The EPA’s History.” (Steve Bennish, “EPA Rules To Force Old Coal Plants To Adapt, Close,” Dayton Daily News, 1/6/12)

Ohio Filed Suit Challenging The EPA’s Cross-State Air Pollution Rule. “A ... more

ANCHOR: “Last night the President gave his State of the Union speech. We all watched it hear in Maine, very anxious to hear what he had to say. It was about 70 minutes, but a lot of people surprised  this morning surprised that we didn't hear much about health care reform. During the speech, the President really only mentioned health care or health care  insurance three times. So Secretary, my question for you is do you and the President still believe in this ‘Affordable Care Act’ and why was it such a small part of the speech?”

SECRETARY SEBELIUS: “Well I think, John that what the president did is focus on the urgent need to make sure that this opportunity for a make or break time for the American middle class is taken advantage of in this year by Congress.” (WPFO, 1/25/12)

The Facts On Obama’s State Of The Union Speech Last Night:

Kaiser Health News: “In State Of The Union Speech, Health Law Gets Short Shrift” (“In State Of The Union Speech, Health Law Gets Short Shrift,” ... more