Not satisfied with the economic destruction he's already brought to the US, Barney Frank wants even more control.

President Obama keeps insisting that he doesn’t want to run banks, auto manufacturers, health care providers, or control executive compensation. Too bad his actions don’t match up with his words, which is quickly becoming the theme of B. Hussein Obama’s presidency. This week, Obama appointed Kenneth Feinberg as “pay czar” with the explicit purpose of reigning in executive compensation along with reviewing the salaries of the top 100 highest paid employees of companies that have received government money. Currently, the White House is claiming to only be concerned with firms receiving federal assistance, a list that grows with every new policy and power grab orchestrated by the Obama administration. However, from listening to the President and congressional Democrats, it’s obvious that they are seeking to expand their powers to dictate compensation rates to all industries and companies, regardless of whether they have taken federal money. It is curious how none of these politicians seem concerned about how much money they personally receive from the taxpayers during an economic downturn; especially since they have voted themselves a pay raise since the economic downturn.

Wednesday, the administration pet pay limits on companies receiving TARP money. Citing executive compensation as a primary driver of the economic recession, the White House is also seeking legislation which would limit executive compensation at all publically traded companies through nonbinding shareholder votes and less management influence. Interestingly, the White House doesn’t seem to have a problem with groups like ACORN and Democrats on the take such as Senator Chris Dodd, Representative Barney Frank, and even Obama himself pressuring banks to exponentially increase their loans to low income and minority lenders regardless of low credit scores or proof of income requirements. Does the President see a problem in the millions taken from Fannie and Freddie by his own campaign and administration advisors when they sat on the board of directors for the companies during the height of the subprime buildup such as Franklin Raines, Jim Johnson, and Rahm Emanuel?

Today, Democrats such as Barney Frank are pushing for the government to do more. “I do differ with the administration in that hope springs eternal and their position seems to be that if we strengthen the compensation committees we will do better,” Frank told the Associated Press. In another interview with CNBC, Frank threw a hissy fit and announced that the interview was over because the interviewer would not merely let him set up the classic Democrat straw man claiming that the only options are either to undertake the Democrat plans or do nothing at all. This is the same accusation made about opponents to the ill-fated stimulus package. The President and his Democrat allies accused Republicans and conservatives questioning the effectiveness of the stimulus by stating that they are instead advocating that the government does nothing to help the economy. Meanwhile, Republicans designed a stimulus package that forecasted twice the job growth at half of the cost according to Obama economic advisor, Christina Romer’s models which were used to predict the effectiveness of the Democrat plan passed.

Government has already done enough damage to the nation’s economy by trying to dictate business practices. Democrats have their fingerprints all over the main causes of the subprime collapse. Instead of learning from their mistakes, they are using the crisis they played a large part to create in order to expand their own control and meddle even further in the private sector while shredding the Constitution.

Angelo Mozilo, ex-CEO of Countrywide Financial is going to need a new group of friends.

The Angelo, as in “Friends of Angelo,” was charged with fraud by the Securities Exchange Commission (SEC). Angelo Mozilo is the former CEO of subprime mortgage giant, Countrywide Financial Corp., which granted the chair of the Senate Banking Committee, Democrat Chris Dodd, mortgage rates for two loans lower than what Dodd could have received on the open market. Democrat Senator, Kent Conrad, who chairs the Senate Budget Committee also benefitted with a sweetheart mortgage deal because he was labeled a “Friend of Angelo.” The program that helped Dodd has been described as a secret “Friends of Angelo” program used by Countrywide where influencial figures, such as the Chair of the Senate Banking Committee, were given extremely low mortgage rates. Mozilo along with two other former executives were named in the SEC’s civil lawsuit which claims that the men “deliberately misled” Countrywide’s shareholders. Countrywide was a prime player in the subprime mortgage collapse that created the current economic recession. The company’s executives explicitly told investors that the company was thriving even though it was actually “bucking under the weight” of defaulted mortgages, according to the SEC suit. While painting an inflated picture of continued profits for investors, Mozila was unloading his own personal holdings in the company before the eventual collapse that wiped out most of the shareholders’ equity. The SEC alleges that Mozilo made over $140 million in illicit profits from these stock sales.

Now that Mozilo has been charged, isn’t it a little odd that no one seems interested in investigating the “Friends of Angelo” who chaired two Senate committees that could have proved very helpful to Countrywide? Shouldn’t every stone be turned in order to ensure that American taxpayers weren’t put at disadvantage because Dodd and Conrad wanted to save a few thousand dollars on their mortgage payments? After Democrat accusations of the Bush administration being in bed with Halliburton and “big oil,” it is a little odd that so many of their own members are deeply entwined with the architects of the housing collapse. Democrat Representative Barney Frank who chairs the House Financial Services Committee also has close ties to the subprime mortgage lenders, especially Fannie Mae and Freddie Mac. About a month before Fannie and Freddie’s collapse, Frank was on CNBC telling investors that shares of the companies were sound investments. In a “startling coincidence,” Frank and Dodd sit atop the lists for political donations from Fannie, Freddie and Countrywide. Also firmly included in the top-three subprime campaign donations recipients is President B. Hussein Obama. Considering all of this, can anyone guess why we won’t see official investigations on any of these incestuous relationships between government and the subprime mortgage industry which has led to millions of job losses and trillions of destroyed American wealth?