More Manipulation By OBot-Ama
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-09-29 13:28
by Karl Denninger
in Corruption
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More Manipulation By OBot-Ama
 

Hoh hoh what do we have here?

The Obama administration issued new guidance intended for defense contractors Friday afternoon, reiterating the administration’s position that the companies should not be issuing layoff notices over sequestration.

Oh really?

See, there's this federal law called the "WARN" act that says that you must give fair warning (60 days) to employees before mass layoff actions.  It applies to any company with at least 100 employees, and is intended to prevent planned (or reasonably-foreseen) layoffs from being imposed by surprise.

We can argue over whether such a law is reasonable, but it is nonetheless the law.  And since the Sequester will go into effect on the first of 2013 under the law warnings have to go out just before the election unless Congress defuses that ticking fiscal bomb!

So what did Obama do?  He had OMB issue an order that if federal contractors (think "defense contractors") follow his guidelines and do not issue the required-by-law notices, the government will allow any penalties and litigation expense, including attorney fees, to be back-billed as part of the contract to the government.

How's that for a scam?

There's nothing like election tampering by stopping employers from issuing legally-required notices that your administration caused to have to go out to people just before an election that will determine if you keep your job..... right?

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Kylafoon
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I seiously hate that SOB....

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Bertdilbert
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Well, we just can't have those pre mass layoff notices coming out right before the election for Romney to point out how the Obama recovery has failed can we?

So basically, Obama is telling people to break the law, cost will be passed on to taxpayers uh excuse me, added to the national debt.

It would be more appropriate to have the cost and fines come out of the Obama reelection campaign.

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Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
Vitaeus
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So much for giving an employee fair warning so he canmake plans based on a job loss. I got one back in 2009 and it allowed me to figure out how I would keep paying my mortgage and bills, haven't missed any yet threeee years later, but without the notice my family would have been so screwed.
Goforbroke
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And you wonder why "we" have blown it? How can we possibly compete with the .gov and the reigning administration (regardless of who they are) when they have the ability to do stuff like this? And to hand out free cellphones? And free food (EBT cards) and ... the list goes on.

They are using us as ATM machines to advance their own interests. Combine a virtually infinite financing source with unchecked authority, and you have a recipe for total subjugation of the population under the guise of "free elections."

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We have met the enemy and it is us. -- Pogo
Chris92346
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So wouldn't it be in the interest of these companies TO send out these notices?

Particularly sending them out just before the elections puts LOTS of pressure on the government not to make the cuts.

What do they get if they do as obama says?
Crzymorse
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Maryland
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Can't wait to see the bar tab on this one. Obama is just piling on Romney at this point.
Steph4liberty
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What. The. Hell.

Is there anything above board that this administration has done? Or is everything lies, scams, and frauds? (yes, that's a rhetorical question...I already know the answer.)

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Blurtman
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Of course, the man in bed with the banksters can also be planning not to cutback the military industrial complex. And, we will be using up inventory in Iran shortly.

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Noodleman
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That does it! :^(

I'm holding my nose and voting for Mitt.

I refuse to stand on the sidelines and watch Obama get away with this crap without doing what I can to oust him from office. He's a flim-flam artist.

I will vote for the unproven devil before I will acquiescently give a nod to Satan himself.

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"Ammunition beats persuasion when you are looking for freedom." Will Rogers, 4 Nov 1879 - 15 Aug 1935

Lowbeyond
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Anarco-tyranny. Enjoy your slavery enforced by for fit of your life via the volunteers of the police state.

Time to build the world's biggest Brownie to impress upon tptb that you are unsatisfied

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Maybe it was a birdy bread-bomber from the future?!
Mannfm11
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criminal fascist

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Jal
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Quote:
... the companies should not be issuing layoff notices over sequestration.

(because sequestration is not going to happen)
Asimov
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Sorry, not in the least surprised.

Sickened, yes.

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If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Mari
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Is he also going to tell them to not send out information on next year's health insurance benefits until after the election? I've heard rumors of what is coming for my employer, a national corporation with many, many thousands of employees. If they are true, and based on the source I believe they are, I am going to need a LOT of popcorn for sitting back and watching this show. At least one of the two very major changes is being attributed to Obamacare. I can't say much more until we receive the information officially in mid-October, but it's going to be interesting to see indoor fireworks in October. The head of the co-worker who sits next to me might literally explode...


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Nomullet
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Folk, this is about the sequestration coming up in January.

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Howie
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The crookedness is so blatant! I think it irritates me more that they get away with it than that they do it in the first place.

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"Banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." - Thomas Jefferson
Noodleman
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Btw, Thanks a million for bringing this to my attention, Karl. Without your Ticker I would have never known about it. Just like 95% of the other American voters. I don't read "The Hill". Obama is slicker than dog ****. If there's a way to scam the system he'll find it.

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"Ammunition beats persuasion when you are looking for freedom." Will Rogers, 4 Nov 1879 - 15 Aug 1935

Standby
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This is like Atlas Shrugged where you can't lay anybody off (at least until our majesty gets re-elected).
Mortgageguymn
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There is one positive spin on this: Obama is such a dirty tricky bastard that he's just the kind of guy we should want working for us in world politics...if you believe he's actually working for us.
Mortgageguymn
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PS, I was half-listening to NPR when they were explaining (spinning) this. I think their spin was that this was to save the workers the trauma of getting a layoff notice, when the sequester is likely to be avoided due to negotiations.
Spence
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Congress is already adjourned until after the election. The only time they have to avoid sequestration is the few weeks between the election and holiday recess. I don't think it's likely it will be avoided.

And I think it's despicable that Obama is trying to have the executive branch override an act of Congress.
Asimov
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Quote:
And I think it's despicable that Obama is trying to have the executive branch override an act of Congress.


*Points at the hundreds of executive orders* (Not just obama's.)

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Spence
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Quote:
*Points at the hundreds of executive orders* (Not just obama's.)


But this is not an executive order, it's 'guidance' from the OMB. So if you were an executive at a defense contractor, would you follow the law, or guidance from OMB? Should be great theater.
Asimov
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Just trying to give another method of avoiding congress that's so commonly used that it's barely even given a second thought.

----------
It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
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