Paul Kanjorski's Free Money- Bail Out Wall Street

Congressman Kanjorski: Federal Tax Dollars Are 'Free Money' I wonder if he included the free federal money in the bailout Congress is working on. In the video he states " I don't think the rules should have any attention paid to it because in the Congress we have our own rules."

Foggy would say "NO, no, no you're doin it all wrong, I gotta straighten this lad out. Thing like this could warp his mind for life." Paul are you kiddin me. How can you believe I have trust in you to oversight the recovery when you feel the rules shouldn't have any attention paid to them.? No wonder your financial services buddies got themselves into the worst financial disaster since the Great Depression.

Paul Kanjorski and Women

From 9/28/2005

News flash to Rep. Paul Kanjorski (D-Pa.): Hurricane Katrina jokes are not funny.

Last week, the congressman expressed a unique idea to resolve the turmoil of hurricane season involving Hurricanes Katrina and Rita: “I’m thinking of denying [the right of] naming hurricanes in the future with female names, because they seem to be terribly destructive,” Kanjorski told a group of credit-union officers at their annual convention last week.

When his joke left the guests pin-drop quiet, Kanjorski explained: “Looking at our audience here, there seems to be more males than females, so I’m taking the liberty” to make wisecracks. Later, he called this month’s first deadly hurricane “little lady Katrina.” Again, no laughter.

Do You Feel Like You Are About To Be Robbed?

If you listen to Paul Kanjorski he is trying to tell the public that he will stay in Washington as long as it takes to solve this out of control financal crisis. Did anyone let Paul know that Charlie Rangel, an admitted tax evader although he trying to say it was a simple error that went on for over 20 years, is the host and featured guest speaker at a $5,000.00 per head fundraiser for Paul Kanjorski this evening in WASHINGTON, D.C.? To the savy political observer the money from the fundraiser,not the financial crisis would be the movtivation for Paul Kanjorski to remain in Washington.

Rangel owned a villa at the Punta Cana Yacht Club in the Dominican Republic, sporadically reported the rental income to Congress, and never declared it on his federal or state tax returns. Again, that is twenty years, not one or two or three. But he would have us believe it was an "error."

According to published reports Paul Kanjorski has accepted $21,000.00 from PACs controlled by Rangel. Chris Carney received the same amount since 2006. What was the payback? Both voted to table a Republican resolution that called for a House ethics investigation of Rangel. That's what $42,000.00 will get you.

Chris Carney is quoted as saying "Charlie Rangel has not been charged with anything." Way to go Chris. A person robs a bank but the police didn't get there yet. Is he innocent? Rangel essentially admitted to evading taxes. Ask Wesley Snipes about tax evasion.

Given the fact that Paul Kanjorski received $2.7 million from the financial services industry it sends off alarms among average Americans. How can a resolution to the financial crisis of the century be resolved satisfactorily for Mom and Pop when their voice has been drowned out in a sea of green faces of more Presidents than Kanjorski has seen in his 12 terms?

There is a saying “Paper money eventually returns to its intrinsic value ---- zero.” Fortunately all of the PAC money won't put Kanjodumpty back together again. If Paul Kanjorski was a pool player I am sure he would be saying to the PACs "I am going to place that money in my side pocket."

The sad part in this whole financial meltdown will be every politician in Washington including Paul Kanjorski will be taking credit for their efforts to resolve this crisis caused by Gramm-Leachy-Bliley Act, a bill passed with bipartisan support. If you really think about everyone reading this post, stop, and pat yourself on the back. It's not Dudley Do Right but "Taxpayers To The Rescue."

Thomas Jefferson wrote in 1816 “I sincerely believe ... that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale.” Those prophetic words describe today's crisis to a tee-student credit card debt, junk mortgages, no down payment mortgages, inflated apprasials demanded by loan officers,etc.

Daniel Webster wrote in the Senate “We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.” Washington needs to make sure that taxpayers are rewarded for their loans. The term bailout should be eliminated. It should be replaced with corporate words like line of credit, newly issued shares, quarterly dividends, pledged assets, and personal guarantees.

The corporate pirates that took the risk and brought to bear upon the American people a financial crisis of epic proportions should be made to solemnly swear " I will never expose the American taxpayer to the type of risk created from corporate greed and stupidity. I pledge to treat the American taxpayers' money as if it were,not my own, but a symbol of the utmost honesty and trust. Without trust in any relationship there is none. And to this point Paul & Co. haven't earn anyone's trust except the PACs to do the right thing for them, not you and me.


Senator Carter Class, author of theEmergecy Banking Act of 1933 said "Is there any reason why the American people should be taxed to guarantee the debts of banks, any more than they should be taxed to guarantee the debts of other institutions, including merchants, the industries, and the mills of the country?" The Emergency Banking Act of 1933 allowed a plan that would close down insolvent banks and reorganize and reopen those banks strong enough to survive. I wonder how many of the corporate executives would balk at any rescue plan offered by you and me if we threatened to eliminate them, not let them remain to have rescue become a bad habit.

Freddie, Fannie, Paulie

In congressional testimony last week, FBI Director Robert Mueller confirmed that the bureau is investigating 24 financial institutions, "large corporations, where the allegations would be that there were misstatement of assets," he said.

A senior official tells ABC News that lending giants Freddie Mac and Fannie Mae are in the government's sights, as well.

So Paulie, how are those contributions working out for you!?

A Message About Ney-Kanjorski

Here's what Paul Kanjorski said about his bill.

The Center for Responsible Lending had this to say about the Ney-Kanjorski bill- "Ask your Congressional representatives to oppose the Ney-Kanjorksi bill, H.R. 1295."

And here's what the National Community Reinvestment Coalition had to say- "will weaken existing federal law, and will preempt stronger state anti-predatory law". The mess you see today would have been much worse if the piece of self-interest legislation had ever become law. If you want to read about their failed attempt Google the Responsible Lending Act.

At last our Congress felt the heat
And stopped the regal stratagem
That many laws they laid upon us
Did not apply to them- Art Buck

No, Paul Kanjorski- "In the Congress we have our own rules." According to his rules it was a bill designed to be anti-predatory. To everyone else the real intent to gut the safeguards were clear.

Just in- Kanjorski's C(r)ash and Burn

The DCCC tells PolitickerPA.com it will spend a total of $2.2 million combined this year to defend U.S. Reps. Chris Carney and Paul Kanjorski. Carney, a freshman, is facing a battle against Republican Chris Hackett, a staffing company executive. Kanjorski, a 12 term incumbent, is running against Republican Hazleton Mayor Lou Barletta. Maybe my $4 million figure will be too low.

Gramm-Leach-Bliley Act

In 1999 a 385 page piece of legislation known as the Gramm-Leach-Bliley Act was passed by the Congress and signed into law by then President Bill Clinton. The bill allowed commercial and investment banks to consolidate forming mergers between banks and insurance companies. It repealed most of the Glass-Steagall Act which prohibited a bank from offering investment, commercial banking, and insurance services. Historically the financial services industry was born. Every new beginning is some other beginning's end.

The final conference vote was 90-8 in the Senate and 362-57 in the House. Democrats agreed to support the bill only after Republicans agreed to strengthen provisions of the Community Reinvestment Act and address certain privacy concerns. It was a bipartisan with broad support. Yet, today in this financial crisis the Democrats are blaming George Bush and the Republicans are blaming the Democrats. Did I say that President Clinton signed the bill and not George Bush? Back to the story.

Governor Meyer in a speech in 2000 summed up the provision in the GLB creating financial holding companies: "To be an FHC, each subsidiary bank must be well-capitalized, be well-managed, and have a Consumer Reinvestment Act (CRA) rating of at least satisfactory." Did he really say well managed?

I believe this statement in that speech illustrates why we are in the mess today. "No better example of the problems of putting congressional intentions into action can be found than the CRA "sunshine" provisions in GLB."

The battlecry of the Democrats goes to the core of a Republican philosophy that less government is better. To the Dems this crisis justifies their beliefs that more government is better. Actually neither side is right. If you have the wrong people in government it never can be right. If you have the wrong people in the institutions created by GLB it never can be right. Non profit does not mean no profit and less government does not mean no government. If you believe in more government regulation just realize that the Income Tax has made more liars out of the American people than golf.

Governor Meyer further states "GLB, as with most complex banking legislation, is a blend of detailed, specific new banking rules and a broad outline to be filled in by the banking agencies. Such delegation in part reflects the agencies' expertise in addressing technical complexities." A governor talking about expertise and government in the same sentence. It's not criminal but it ought to be.

Analysis of an accident always reveals that the final result is due to a cascade of events that culmuinate in tragedy. If you are following the news about the monumental rescue to address today's financial crisis aka "Wall Street Bailout", you will see that once again the Dems want to tag on pet provisions to any bailout bill put forth in the Congress in the same way they did it with the passage of GLB. All of the pundits are citing GLB as the incubator of destruction causing today's crisis. Wall Street Bailout sounds like a movie title; Ben Stein could be the Federal Reserve Chairman. The bailout could be part of his hit Comedy Central quiz show "Win Ben Stein's Money." This way it will earn its rightful title "Bailout Bonanza."

But you have one Democrat who is outshining all by seeking an individual piece of legislation to thwart GLB. Yes, we are back to the Community Choice in Real Estate Act. Isn't it funny that the title is "Community Choice" but the effect of the bill is to ban not offer choice? Not so funny if you are the consumer. I wish I had a counter for this site. It would be rolling up the dollars the National Association of Realtors is paying..oops donating, my bad, uhh no wasting on Paul Kanjorski to help him in his already failed reelection attempt.

Who voted for Gramm-Leach-Bliley? Right again, Paul Kanjorski. What is his reward? $980,000.00 and counting. Oh that is wrong. That's only from one entity. Didnt' I write the financial services industry was born above? As of June 30,2008 he was already over $1 million in PAC money. Add on the $980,000.00 and Kanjorski will top the $4 million mark with all the PACs when this election ends on November 4th.

Paul Kanjorski voted for the war but he offers excuses; on May 10, 2007 he voted for redeployment in Iraq but states the surge won't work; he blames George Bush for lying about WMDs but never mentions the infamous Feith-Carney memo, yes Chris Carney who authored the memo with faulty information given to George Bush; he voted against Medicare Part D but he offers excuses; Cornerstone Technologies lost $10 million of taxpayer's money and he offers excuses not an apology; he voted for GLB, no excuses just efforts to get legislation passed to take care of his corporate buddies. He rallies behind the misperception that the Republicans represent big business. Paul, who are the PACS filling your campaign coffers? Mom and Pop, nahh didn't think so.

If Lou Barletta wasn't as well known as he is how would anyone be able to challenge incumbents and have a prayer to win? The financial services industry wants to drown each and every American. It was corporate greed by the wrong that got us into this mess and it is Paul Kanjorski who wants to see it stays that way. I guess that why they say the campaign contributions he is receiving come from the FIRE sector (Finance, Insurance and Real Estate donations.

Gore Vidal wrote in 1969 "Unless drastic reforms are made we must accept the fact that every four years the United States will be up for sale, and the richest man or family will buy it." In this race it is every two years. And Helen Douglas was quoted in 1973 as saying "The first step toward liberation for any group is to use the power in hand...And the power in hand is the vote."

Take a little time and donate to Lou Barletta's campaign. Big or small, the size of the contribution doesn't matter. What does matter is that your voice will be heard. Lou Barletta is a one issue candidate. And that issue is courage; the courage to speak for you.

National Association of Realtors Gives Paul Kanjorski $890,000.00!

According to an article by Aaron Blake in The Hill posted 09/21/2008 he states that the National Association of Realtors has spent nearly "$4 million combined in seven battleground districts this year."

In looking at the race between Lou Barletta and Paul Kanjorski the article states "The PAC also spent another $60,000 on radio ads and $220,000 on direct mail for Kanjorski, who is one of the most vulnerable Democrats in the House in his matchup against Hazleton Mayor Lou Barletta (R).

The Realtors have now spent $890,000 total on Kanjorski. That investment is second only to the $990,000 the PAC spent in April and May on failed New Mexico GOP congressional candidate Monty Newman, who is a realtor."

Over 22% of their total spend for races was placed with Paul Kanjorski. In this time of economic and financial crisis it begs the question- What favors were curried of Paul Kanjorski to warrant such an investment?

With a quick search it wasn't that hard to find an answer. Paul Kanjorski introduced the Community Choice in Real Estate Act. Interests who want this bill to become law included these interests and specific groups: insurance companies, brokers & agents, real estate agents, an other real estate services.

A summary of the act goes as follows: To amend the Bank Holding Company Act of 1956 and the Revised Statutes of the United States to prohibit financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities, and for other purposes. In effect, prohibits financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities. This bill holds up the old adage -with every investment the investor expects a positive return. This bill wasn't bringing home the bacon, the whole pig, lipstick and all came with it.

This bill is not a new effort from Paul Kanjorski. If you read this articleyou will see he attempted to introduce similar legislation as far back as 2001. He proposed it again in 2003. The congressmen is persistent while maintaining campaign contributions "don't influence the way he does his job" or curry favors.

When you cut through the haze with polarized sunglasses you see clearly the proposal would protect a significant amount of business for realtors and related services by preventing large banking conglomerates to enter real estate brokerage and property management. The NAR charges allowing such a practice would lead to higher costs to consumers, large-scale consolidation in the real estate industry, and potential conflicts of interest should banks be able to steer homebuyers to their own insurance and loan products.

Banks wanting to make loans...It reminds me of the James Lipton Commercial for Geico where he says..Human beings behaving humanly. Brilliant.

Paul Kanjorski claims the money doesn't curry favors. Look at this article "CFAL Commends Reps. Ney and Kanjorski on New Bill Establishing Tough Uniform National Mortgage Lending Standards" Business Wire, March 15, 2005.

It states " CFAL, which represents many of the nation's leading nonprime mortgage lenders, has long advocated passage of legislation creating uniform federal standards to replace the current confusing and conflicting patchwork of differing state and local laws now regulating mortgage lending. CFAL believes that such legislation must provide all mortgage borrowers -- regardless of where they live or who regulates their loan originator -- with equally strong and effective protections to stop improper practices by unscrupulous mortgage brokers and lenders."

This statement brings me back to the Community Choice in Real Estate. This bill has been declared "DEAD" since the 107th Congress. Paul, if contributions don't influence why are you trying so hard? Back to my buddy Foghorn, of Paul's efforts, "That dog's as subtle as a hand grenade in a barrel of oat meal."

Paul Kanjorski supported Predatory Lending

The Hazleton Standard Speaker features an article in its Sunday edition- Barletta calls Kanjorski’s role into question . Paul Kanjorski's congressional office issued an eight page timeline of the congressman's record "to regulate Fannie Mae and Freddie Mac, curb predatory lending, improve the quality of real estate appraisals and otherwise help consumers seeking to buy homes." Did the rooster come home to roost or what?

Let's look at what this article states at the time Kanjorski proposed his main bill- Feds Propose Gutting State Protections Against Predatory Lending dated February 28, 2006. Quote- "But a proposed federal law sponsored by Reps. Bob Ney, an Ohio Republican, and Paul Kanjorski, a Pennsylvania Democrat, would override those state laws and gut consumer protections. Perhaps unsurprisingly, their campaign reports show close connections to the financial industry. Rep. Ney, of course, is infamous for his connections to Jack Abramoff and took just short of $570,000 from financial companies in 2003 and 2004. Rep. Kanjorski took almost $450,000 from the financial services industry in the 2004 election cycle, over half of the money he raised."

It is reported in the Standard Speaker article that Kanjorski took $2.7 million overall since 1989. That means he received 16% of his money in one election cycle out of 10 election cycles.

The Progessive States article goes on to state "Consumer rights advocates have come out in support of an alternative federal bill introduced last year by Rep. Brad Miller, a North Carolina Democrat, which would protect existing state predatory lending laws."

How did the latest mortgage crisis happen? Read this article 1.2 million home foreclosures: how did it happen? In part the writer states "Some crucial answers lie in a new report by Common Cause, titled, "Ask Yourself Why... Mortgage Foreclosure Rates Are So High." Several experts testified before Congress in 2000 to warn of lending abuses, persuasion of families to take out loans beyond their means, steering minority homeowners into subprime loans unnecessarily, and more. Yet Congress didn't act.

Over the next seven years, the mortgage lending industry spent $210 million in Washington lobbying and in campaign contributions as they worked to stave off regulation."

The Standard Speaker article tries to paint a rosy picture of Paul Kanjorski's efforts ignoring the information about the Ney-Kanjorski bill. There is one fact that can't be denied. Those that are singing his praise gave him millions in donations, something he claims did not influence him. Geez Paul, can you explain why the National Association of Realtors is running ads against Lou Barletta to the tune of over $234,000.00 for your benefit? No influence, complete balderdash.

The National Low Income Housing Coaltion has this appraisal of Ney-Kanjorski "Representatives Robert Ney (R-OH) and Paul Kanjorski (D-PA) introduced the Responsible Lending Act (H.R. 1295) on March 19, 2005. While at first glance the Ney-Kanjorski bill appears to offer useful consumer protections, its language is riddled with loopholes, making most of its provisions meaningless to borrowers. For example, while it also sets the points and fees trigger at 5%, the bill excludes prepayment penalties, yield spread premiums, discount points, SPCI and other fees in its calculation, significantly limiting the number of loans it covers. Ney-Kanjorski also prohibits prepayment penalties, but only after three years of the loan origination and even though most high cost loans have prepayment penalties two-three years after loan origination. Furthermore, loopholes in the bill would allow for flipping when a single reasonable tangible benefit is provided, even if the tangible net benefit would leave the borrower worse off. Ney-Kanjorski also does not ban mandatory arbitration on all home loans and would preempt state or local laws, including those that provided stronger consumer protections."

If my bddy Foghorn Leghorn were real and read Paul Kanjorski and Ed Mitchell's propaganda he would say "This is gonna cause more confusion than a mouse in a burlesque show!"

Of the money received by Paul Kanjorski from the financial and real estate industry-"They have plenty of Congressmen protecting them. Isn't it time we had someone who is protecting us? We cannot change Washington unless we change the people we send there. This November Lou Barletta will represent, in this election, the definition of change asked for by the voters, not the big corporations.

High Paying Jobs

Did anyone mention Cornerstone? "Two half nuthins is a WHOLE nuthin!!"-FL And that is what was left at Cornerstone.- nuthin. You can click on the link if you want to see the actual bankruptcy filing. In particular look at Schedule B- Personal Property only $14,100.00 worth left from $10 million. 2 mill bodies cost $100,000.00 each location "UNKNOWN." "You’re telling me I can’t take care of my family?"