Debbie Wasserman Schultz & Pakistani Computer Guys: More Than Bank Fraud

There’s more than bank fraud going on here.

In Washington, it’s never about what they tell you it’s about. So take this to the bank: The case of Imran Awan, Debbie Wasserman Schultz’s mysterious Pakistani IT guy, is not about bank fraud.

Yet bank fraud was the stated charge on which Awan was arrested at Dulles Airport this week, just as he was trying to flee the United States for Pakistan, via Qatar. That is the same route taken by Awan’s wife, Hina Alvi, in March, when she suddenly fled the country, with three young daughters she yanked out of school, mega-luggage, and $12,400 in cash.

By then, the proceeds of the fraudulent $165,000 loan they’d gotten from the Congressional Federal Credit Union had been sent ahead. It was part of a $283,000 transfer that Awan managed to wire from Capitol Hill. He pulled it off — hilariously, if infuriatingly — by pretending to be his wife in a phone call with the credit union. Told that his proffered reason for the transfer (“funeral arrangements”) wouldn’t fly, “Mrs.” Awan promptly repurposed: Now “she” was “buying property.” Asking no more questions, the credit union wired the money . . . to Pakistan.

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Obama Looted Fannie Mae And Freddie Mac

President Obama never was shy about using his phone and pen to achieve what he could not get from Congress on regulatory matters.

But documents revealed last week show the Obama administration may have been willing to get around congressional decisions on spending by using a slush fund of sorts funded by the profits of Freddie Mac and Fannie Mae, the two government-sponsored home loan giants.

Fannie and Freddie are federally chartered enterprises which buy mortgage loans from banks and bundle them into securities that are sold to investors, thus freeing up capital so that banks can make more home loans.

They are government-sponsored enterprises, which means the government guarantees their loans. But they are run as private enterprises, with private leadership, a board of directors and, most significantly for this purpose, investors. They’re even listed on the stock market.

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With LIBOR Dead, $400 Trillion In Assets Are Stuck In Limbo

In an unexpected announcement, earlier this week the U.K.’s top regulator, the Financial Conduct Authority which is tasked with overseeing Libor, announced that the world’s most important, and manipulated, benchmark rate will be phased out by 2021, catching countless FX, credit, derivative, and other traders by surprise because while much attention had been given to possible LIBOR alternatives across the globe (in a time when the credibility of the Libor was non-existent) this was the first time an end date had been suggested for the global benchmark, which as we explained on Thursday, had died from disuse over the past 5 years.

Commenting on the decision, NatWest Markets’ Blake Gwinn told Bloomberg that the decision was largely inevitable: “There had never been an answer as to how you get market participants to adopt a new benchmark. It was clear at some point authorities were going to force them. The FCA can compel people to participate in Libor. What can ICE do if they’ve lost the ability to get banks to submit Libor rates?”

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200 Years Of Human Progress In Six Powerful Charts

Brian Thomas writes that liberals are determined to spread the notion that America is to blame for nearly all the problems in the world, particularly poverty in developing countries.

Liberals think America exploits developing nations and actively prevents them from developing.

Arthur Brooks of the American Enterprise Institute, knows better.

 

Nearly All Of U.S. Drinking Water Contaminated With Cancer Causing Chemicals

The Environmental Working Group, a non-profit research organization environmental watchdog, released a searchable database Thursday that shows almost 50,000 public water systems in the U.S. are contaminated with dozens of harmful chemicals.

Some of the chemicals found in your drinking water include – arsenic, hexavalent chromium, radiation, chloroform, perfluorooctanoic acid, Bromodichloromethane, Dichloroacetic acid, Barium, and Uranium; and that’s just scratching the surface of the 250-plus contaminants the group discovered.

EWG researchers spent the last two years collecting data from independent state agencies and the EPA for drinking water tests conducted from 2010 to 2015 by 48,712 water utilities in all 50 states and the District of Columbia. Researchers tested the utilities for approximately 500 different contaminants, finding a whopping 267 contaminations of Americans’ water supplies.

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HILARIOUS Cartoon Shows How ‘Free Stuff’ Really Works

Calvin Freiburger writes that in a development that will only come as a surprise to those lacking a scintilla of economic literacy (in other words, liberals), Fox News reports that the food stamp rolls are shrinking in several states, for a very simple reason.

Following the food stamp explosion of the Obama years, states have been moving to re-impose work requirements on public assistance, and the results speak for themselves:

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Congressman Asks a Question About Weed And Accidentally Exposes Tyrannical Drug War

The Office of National Drug Control Policy (ONDCP) met with members of Congress this week to discuss multiple issues when a Republican congressman asked a question that would expose the state’s immoral and tyrannical war on drugs in an accidental stroke of logic.

Harold Watson “Trey” Gowdy III is a member of the Tea Party movement and the Republican Party and serves as a congressman from South Carolina. He is also the chairman of the Committee on Oversight and Government Reform. During the meeting with the ONDCP this week, Gowdy asked why marijuana was a schedule I drug.

Schedule I “drugs, substances, or chemicals are defined as drugs with no currently accepted medical use and a high potential for abuse,” the DEA claims. Given the mountains of evidence showing the beneficial nature of the cannabis plant, the DEA’s claims are nothing short of asinine and tyrannical.

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