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The International Monetary Fund (IMF) is a fundamentally flawed institution that currently serves as an international bailout fund. The global bureaucracy has spent decades bailing out reckless foreign countries and banks, of which most recently are Greece, Ireland and Portugal. But now reports are circulating that the IMF needs a bailout of their own.
It has been just over a year since Congress and President Obama passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The massive piece of legislation was intended promote financial stability and prevent another major Wall Street collapse. One year later, most of the rules and regulations required by the law have yet to go into effect.
The head of the International Monetary Fund (IMF) Dominique Strauss-Kahn was arrested in the first-class cabin of an Air France jet bound for Paris on Saturday. The French socialist who is nicknamed the “le grand séducteur” or Great Seducer was charged with attempted rape, unlawful imprisonment and a criminal sex act. A New York grand jury formally indicted him yesterday on seven counts related to the alleged sexual assault of a maid in a fancy $3,000-a-night Midtown Manhattan hotel over the weekend.
FreedomWorks Letter Support GSE Bailout Elimination and Taxpayer Protection Act
Dear FreedomWorks member, As one of our million-plus FreedomWorks members nationwide, I urge you to contact your representatives and ask them to support H.R. 1182 GSE Bailout Elimination and Taxpayer Protection Act. Introduced by Rep. Hensarling (R-TX) the bill would end conservatorship for government sponsored enterprises Fannie Mae and Freddie Mac. Taxpayers should not be forced to bailout Fannie Mae and Freddie Mac from their poor lending decisions.
Top 10 Reasons to Stop The International Monetary Fund (IMF) Bailouts
Last week, the International Monetary Fund (IMF) announced plans to bailout Ireland. Since U.S. taxpayers pay 17 percent of the IMF’s funding, we are the world’s largest contributors. This means that American taxpayers will be on the hook again for billions of dollars to prop up failed economic policies overseas. With the largest share of voting power, the U.S. government has the authority to veto any IMF bailout.
Recently, the Obama administration has been touting that the Troubled Asset Relief Program or TARP—the massive $700 billion Wall Street Bailout—“saved” the economy and actually returned an 8.2 percent "profit". Today, the New York Times reported that:
Key Vote "No" H.R. 4173: Dodd-Frank Wall Street Reform and Consumer Protection Act
Rumors are swirling in Washington, D.C. about a potential "Lame Duck" session that could be held right after the November elections and before the new Congress is sworn-in. If liberals are thrown out of power in Congress this election cycle, the pressure will be that much greater and Harry Reid and Nancy Pelosi will pull out all the stops as a last gasp to enact their socialist agenda. Specifically, the far left will be doing whatever they can to: 1. Pass the Cap and Trade Energy Tax Hike! 2. Slap American Taxpayers with another "Stimulus" Bailout Scheme!
FreedomWorks Activist Punched at Peaceful Protest to Oppose BP Bailout
On Tuesday, about 25 Freedomworks activists gathered outside Congressman Watt's Greensboro, NC office to protest another big bailout, aka, the Durbin Amendment.
Here's the long and short of the amendment: