Boycott General Motors

28 11 2018

 By Timothy D. Naegele[1]

There is reason to believe that General Motors is failing again, after having been bailed out by America’s taxpayers.  It stopped reporting monthly sales back in April of 2018, despite the fact that all of its domestic and foreign competitors had been reporting them on a regular basis. This was a drastic decision by GM’s management, which had reported such figures during the last auto sales crisis—described as the Crash of 2008.[2]

GM was on the ropes then. Chrysler and Ford were too, but company founder Henry Ford’s great-grandson Bill Ford and Boeing’s Alan Mulally[3]—who had become Ford’s president—put together a winning plan to save Ford without going into bankruptcy.  They hunkered down and sold off Aston Martin, Land Rover, Volvo, Jaguar, Ford’s dominant interest in Mazda, and consigned the Mercury brand to the dustbin of automotive history. In the process, their strategy succeeded impressively. Today, Fords are the largest selling vehicles in the United States; and the Ford F-Series trucks outsell all other vehicles.

Both GM and Chrysler went into bankruptcy; and with his Fiat conglomerate hanging by a thread in Europe, its gutsy chief Sergio Marchionne bought Chrysler, and the rest is business history.  Marchionne saved both of his companies.[4]  Today GM manufactures vehicles in 37 countries, and sells its core American automobile brands—Chevrolet, Buick, GMC, and Cadillac—through its U.S. dealers, some of which were put out of business following the last crash because they were deemed not to be buying enough cars from GM.[5]

It has been reported that the company plans to halt production at several of its American plants, and reduce its salaried workforce by 15 percent—or more than 14,000 employees—in a massive restructuring that will cost up to $3.8 billion. The Detroit automaker said “plants in Ohio, Michigan, Maryland, and Ontario will be ‘unallocated’ in 2019 and it will cease operations at two additional plants outside of North America by the end of next year.”[6]

This time, there must be no bailout for the company.  It must be allowed to fail and go out of business—which is exactly what GM did to many of its best dealers and their employees. In the process, long-time and loyal GM customers were hurt too, having been the source of monies to bail out the company.  No mercy was shown to any of them by GM’s management; and none should be shown to GM this time around.  This is true as well with respect to electric vehicles, and their taxpayer subsidies.[7]

 

Boycott GM

© 2018, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and Timothy D. Naegele Resume). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See http://www.wsj.com/mdc/public/page/2_3022-autosales.html#autosalesE (“Auto Sales“); see also https://naegeleblog.wordpress.com/2015/11/30/a-34-trillion-swindle-the-shame-of-global-warming/#comment-14697 (“Is General Motors Failing Again?”) and https://naegeleblog.wordpress.com/2015/11/30/a-34-trillion-swindle-the-shame-of-global-warming/#comment-14324 (“The Passing Of An Auto Giant”)

[3]  See https://en.wikipedia.org/wiki/William_Clay_Ford_Jr. (“William Clay Ford Jr.”) and https://en.wikipedia.org/wiki/Alan_Mulally (“Alan Mulally”)

[4]  See https://naegeleblog.wordpress.com/2015/11/30/a-34-trillion-swindle-the-shame-of-global-warming/#comment-14324 (“The Passing Of An Auto Giant”)

[5]  See, e.g., https://en.wikipedia.org/wiki/General_Motors (“General Motors”)

[6]  See https://www.cnbc.com/2018/11/26/gm-unallocating-several-plants-in-2019-to-take-3-billion-to-3point8-billion-charge-in-future-quarters.html (“GM to halt production at several plants, cut more than 14,000 jobs”); see also https://www.freep.com/story/money/cars/general-motors/2018/11/26/ontario-plant-closure/2112539002/ (“GM closing Hamtramck, Lordstown, Oshawa plants, cutting jobs”)

[7]  See, e.g., https://naegeleblog.wordpress.com/2015/11/30/a-34-trillion-swindle-the-shame-of-global-warming/#comment-10525 (“The Swindle And Shame Of Global Warming: Electric Cars”)

It is clear that the boycott movement is growing.

See, e.g., https://www.google.com/search?q=Boycott+General+Motors&oq=Boyco&aqs=chrome.0.69i59j0j69i57j0l3.6839j0j8&sourceid=chrome&ie=UTF-8





Tragic: Three University Of California Campuses Rank As The Most Dangerous In The USA

13 10 2018

 By Timothy D. Naegele[1]

The seemingly-innocent and idyllic University of California, Santa Barbara—perhaps the only college campus located directly on one of the world’s great oceans—has been ranked at the very top of a listing  of “America’s Most Dangerous Universities.”  Its sister campuses of UCLA and Berkeley rank as #2 and #19 respectively.[2]  This tragic “honor” demands immediate attention, remedies, “fixes,” and careful and unending scrutiny by all who care deeply about the University of California and its ten campuses.[3]

Instead of attacking the messenger or the study’s findings—and in keeping with the words that appear on the University of California’s seal, “Let There Be Light”—positive, proactive steps must be taken immediately to address the critical problems. Neither these three nor any other U.C. campuses should appear on this or any similar listings ever again. Actions must be taken now before life-changing or -ending tragedies occur.

The University and each of its campuses owe this to their students, parents, alumni, faculty members and other employees, the communities in which they are located, and to all Californians whom they serve. Clearly, the vast number of American universities have never appeared on this or any other similar listings. They must be doing something right; and arguably they can provide valuable lessons and guidance to the University of California, UCSB, UCLA and Berkeley.

Indeed, UCLA’s archrival in sports, the ghetto-bound University of Southern California, did not make the list.  Leadership is needed now, more than ever before.  It counts for nothing that UCLA was considered the most difficult American university to get into, for its entering freshman class in the fall of 2018.  Similarly, all of the U.C.’s Nobel Prize winners mean nothing if the campuses are not safe for students, faculty, visitors and the like.

University of California

 

© 2018, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and Timothy D. Naegele Resume). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]   See https://insurify.com/insights/ivory-tower-incidents-americas-most-dangerous-universities/ (“Ivory Tower Incidents: America’s Most Dangerous Universities”) [Ivory Tower Incidents-America_s Most Dangerous Universities-Insurify]

[3]  See, e.g.https://en.wikipedia.org/wiki/University_of_California (“University of California”)

On a personal note, the author attended all three U.C. campuses; he has degrees from two of them, UCLA and Berkeley; and he has been deeply involved with UCSB—where he served as Vice President of the Freshman Class, President of the Sophomore Class, and Vice President of the student body.  Also, he has served on the Board of Directors of the UCSB Alumni Association (1980-86), and as a Trustee of the UCSB Foundation (1987-1990); and his family members are UCSB graduates.





Will Kavanaugh Prove Disastrous For The Democrats?

6 10 2018

 By Timothy D. Naegele[1]

The confirmation of Brett Kavanaugh as the newest Justice of the U.S. Supreme Court has sent shock waves through America[2]; and its effects may be most pronounced for the Democrats—who lost.  And yes, lots of us began as Democrats, but will never vote for one again.

Something similar may be true of the Left’s stalwarts who demonstrated across this country, first for Bernie Sander’s candidacy as the Democrats’ nominee for president in 2016—which was co-opted and “buried” by Hillary Clinton and her thugs—and then to defeat Kavanaugh’s confirmation.  They may feel that they were cheated and sold down the river by the Democrats, who failed to deliver . . . again.

The wind may go out of their sails, while the Republicans—and especially the Trump “faithful”—may be energized almost like never before.  “How sweet it is” (they may say or think) that their efforts proved successful, as they did in the 2016 election.  With the U.S. economy seemingly purring along[3], they may be convinced of their righteousness and of the certitude of their actions, which may propel them on to other and even greater victories.

In retrospect, Kavanaugh may have been a flawed candidate, and perhaps even more of a flawed Justice.[4]  What his elevation to the Court may mean—along with Neil Gorsuch before him, and soon the feeble Ruth Bader Ginsburg’s replacement—is that Donald Trump’s political and legal flanks will be protected against the Democrats’ efforts to remove him from the presidency.  If so, then the elevation of a flawed Kavanaugh to the Court will have served its purpose and satisfied Trump’s faithful.[5]

Aside from possibly defusing the Left’s zeal, the Kavanaugh confirmation fight has exposed its underbelly for all Americans to see.  Dianne Feinstein of California was shown to be an ineffectual, lying senator, who had kept a Chinese spy on her staff for approximately 20 years, despite the fact that she was entrusted with the nation’s most sensitive secrets.[6]  Richard Blumenthal from Connecticut was tarnished again for lying about his military service in Vietnam[7]; and the list goes on and on[8].

The Kavanaugh fight may have served another purpose.  It seems to have strengthened the spine of weak-kneed and often pathetic Republican “Neanderthals.”  They rose to the occasion and defeated the onslaught of the Democrats’ lies and normally-astute political skulduggery, which had been so successful in the past.  The departure of the totally-inept and ineffectual Paul Ryan from the House of Representatives may further this progression.[9]

democrats-are-losers

 

© 2018, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and Timothy D. Naegele Resume). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See https://www.apnews.com/8234f0b8a6194d8b89ff79f9b0c94f35 (“Kavanaugh is confirmed: Senate Oks Supreme Court nominee”); see also https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/#comment-14894 (“KAVANAUGH: A DRESS REHEARSAL FOR IMPEACHMENT?”) and https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/#comment-14821 (“A Hail Mary Pass With 00:07 On The Clock In The Fourth Quarter”)

[3]  See, e.g.https://www.cnbc.com/2018/10/05/us-nonfarm-payrolls-september-2018.html (“[U]nemployment rate hits the lowest level since 1969”) and https://www.cnsnews.com/news/article/craig-bannister/hispanic-unemployment-rate-hits-lowest-level-record-september (“Hispanic Unemployment Rate Hits Lowest Level on Record in September”) and https://www.washingtonexaminer.com/business/manufacturing-confidence-nears-all-time-high-despite-workforce-shortage (“Manufacturing confidence at all-time high despite workforce shortage”) and https://www.cnsnews.com/news/article/terence-p-jeffrey/federal-government-cut-1000-jobs-september-16000-under-trump (“Federal Government Cut 1,000 Jobs in September; -16,000 Under Trump”) and https://www.marketwatch.com/story/construction-hiring-is-booming-and-there-still-are-plenty-of-available-jobs-2018-10-05 (“Construction hiring is booming — and there still are plenty of available jobs”) and http://www.rasmussenreports.com/public_content/politics/political_updates/prez_track_oct05 (“The Rasmussen Reports daily Presidential Tracking Poll for Friday shows that 51% of Likely U.S. Voters approve of President Trump’s job performance”)

[4]  See, e.g.https://www.yahoo.com/news/sinister-battle-brett-kavanaugh-over-202425923.html (“My sinister battle with Brett Kavanaugh over the truth – by [the international business editor of the UK’s Daily Telegraph] Ambrose Evans-Pritchard”—”[Patrick Knowlton] had been the first person at the Fort Marcy death location [of Vince Foster, next to the Potomac River]. . . . He said the FBI had tried repeatedly to badger him into changing his story on key facts. Each time he refused. . . . Before testifying, he suffered two days of what appeared to be systematic intimidation by a large surveillance team. . . . When Mr Knowlton appeared at the grand jury – thinking he was doing his civic duty – he says he was subjected to two and a half hours of character assassination. . . . There was little attempt to find out what he knew about the Foster death scene. . . . Few people are aware that the US federal prosecutor handling the death investigation at the outset, Miquel Rodriguez, had resigned earlier from the Starr investigation after a bitter dispute. His resignation letter – later leaked [Rodriguez materials] – said he was prevented from pursuing investigative leads, that FBI witness statements did not reflect what witnesses had said, that the suicide verdict was premature, and that his grand jury probe was shut down just as he was beginning to uncover evidence. An informed source told me his work had been sabotaged by his own FBI agents. The nub of the dispute was over compelling evidence of a wound in Foster’s neck, which contradicted the official version that Foster shot himself in the mouth and had essentially been suppressed. The key crime scene photos had vanished and the FBI labs said others were over-exposed and useless. Mr Rodriguez, by then suspicious, slipped them to the Smithsonian Institution and had them enhanced. One showed a black stippled ring like a gunshot wound in the side of Foster’s neck. This remains secret but I have seen it. The photo was pivotal. It confirmed what several people who handled the body had originally stated. I interviewed the first rescue worker on the scene and when I asked him about the mouth wound, he grabbed me, and said with frightening intensity: ‘listen to me buddy, Foster was shot right here,’ jabbing his finger into my neck. He said the FBI had pressured him too into changing his story and that official narrative was a pack of lies”) (see also https://naegeleblog.wordpress.com/2010/09/24/washington-is-sick-and-the-american-people-know-it/#comment-7185 (“Clinton Fatigue”—”[Was Vince] Foster killed at the Clinton’s behest[, and did Brett Kavanaugh participate in the cover-up]?”))

. . .

Many Americans believe that Chief Justice John Roberts never should have been appointed to the Court; and that he constitutes the second worst decision that former President George W. Bush made, aside from launching our great nation into the tragic Iraq War.  Among other things, he cast the deciding vote with respect to the constitutionality of Obamacare.

See, e.g.https://dailycaller.com/2012/06/28/in-6-3-decision-supreme-court-rules-obamacare-constitutional/ (“IN 5-4 DECISION, SUPREME COURT RULES OBAMACARE CONSTITUTIONAL”)

[5]  See, e.g.https://www.dailymail.co.uk/news/article-6245887/Kavanaugh-U-S-Supreme-Court-sparks-harmony.html (“The GOP dream for decades to come: How Kavanaugh could reshape abortion restrictions, gay rights – and may even rule on whether Trump can be prosecuted when he replaces Scotus swing vote”)

[6]  See, e.g., https://sanfrancisco.cbslocal.com/2018/08/01/details-chinese-spy-dianne-feinstein-san-francisco/ (“Details Surface About Sen. Feinstein And The Chinese Spy Who Worked For Her“)

[7]  See, e.g., https://www.nytimes.com/2010/05/18/nyregion/18blumenthal.html (“Richard Blumenthal’s Words on Vietnam Service Differ From History“) and https://www.nbcnews.com/politics/donald-trump/fact-check-trump-says-blumenthal-lied-he-did-bragged-he-n915096 (“Fact check: Trump says Blumenthal [or “Da Nang Dick” as the President calls him] lied (he did)”—”Senator Richard Blumenthal must talk about his fraudulent service in Vietnam, where for 12 years he told the people of Connecticut, as their Attorney General, that he was a great Marine War Hero. Talked about his many battles of near death, but was never in Vietnam. Total Phony!”—”Blumenthal did lead voters to believe he was a Vietnam veteran when, in fact, he was never deployed to Vietnam”)

[8]  See infra n.2.

[9]  See, e.g.https://naegeleblog.wordpress.com/2018/07/29/it-is-time-for-trump-supporters-to-fight-back/ (“It Is Time For Trump Supporters To Fight Back”)





Has Jeff Sessions Harmed America Irreparably?

17 09 2018

 By Timothy D. Naegele[1]

The United States is being ripped apart today because of one man: former U.S. Senator from Alabama and now U.S. Attorney General Jeff Sessions.[2]

He seemed to be a harmless, “go-along, get-along” senator from the South; a “good ol’ boy,” whom many of us have seen over and over again on Capitol Hill.  He appeared loyal to Donald Trump during the 2016 presidential campaign, and was an early supporter; and he was rewarded with the coveted cabinet position.

Among his first acts on the job was to recuse himself from what has become the “Russian Hoax” investigation[3], and to turn over his duties to the Deputy Attorney General Rod Rosenstein.  Now we know that Rosenstein was knee-deep in the Barack Obama-blessed or initiated “Deep State” efforts to destroy the candidacy of Trump; and failing that, to destroy the presidency of Trump.[4]

The chain of events set into motion by Sessions are almost unprecedented in this great nation’s history, except for the efforts to remove former President Richard Nixon from office, “not two years after he won the greatest landslide in U.S. history.”[5]  Referred to as “Watergate,” some of us lived through that wrenching experience, and never want to see anything like it repeated again.

There is no question that former Presidents John F. Kennedy and Lyndon Johnson committed much greater crimes than Nixon ever did—even accepting the very worst that Nixon was accused of doing.[6]  And former President Bill Clinton, and former Secretary of State Hillary Clinton, have committed almost every crime known to mankind, yet they have not been imprisoned or driven from their offices thus far.[7]

 

Jeff Sessions

 

© 2018, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and Timothy D. Naegele Resume). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See https://en.wikipedia.org/wiki/Jeff_Sessions (“Jeff Sessions”); see also https://naegeleblog.wordpress.com/2018/07/29/it-is-time-for-trump-supporters-to-fight-back/#comment-14689 (“Trump Slams Sessions, Says AG Is Hurting GOP In Midterms”) and https://naegeleblog.wordpress.com/2018/03/11/robert-mueller-should-be-executed-for-treason/#comment-14331 (“Jeff Sessions Defends Rosenstein, And Must Be Removed As Attorney General“) and https://naegeleblog.wordpress.com/2018/07/29/it-is-time-for-trump-supporters-to-fight-back/#comment-14809 (“Trump’s Dilemma: Leave Justice Department Control To Sessions, Rosenstein, Wray And The Deep State?”) and https://naegeleblog.wordpress.com/2012/03/21/the-united-states-department-of-injustice/ (“The United States Department of Injustice”)

[3]  See https://www.amazon.com/Russia-Hoax-Illicit-Hillary-Clinton/dp/0062872745/ref=sr_1_1?ie=UTF8&qid=1529019893&sr=8-1&keywords=Gregg+Jarrett (Gregg Jarrett: “The Russia Hoax: The Illicit Scheme to Clear Hillary Clinton and Frame Donald Trump”)

[4]  See https://en.wikipedia.org/wiki/Rod_Rosenstein (“Rod Rosenstein”); see also https://naegeleblog.wordpress.com/2018/03/11/robert-mueller-should-be-executed-for-treason/#comment-14336 (“DEMAND IMPEACHMENT OF ROD ROSENSTEIN!“) and https://naegeleblog.wordpress.com/2018/06/15/the-department-of-injustices-inspector-general-is-complicit-in-the-deep-state-cover-up/#comment-14180 (“DOJ’s Rod Rosenstein Is A Traitor“) and https://naegeleblog.wordpress.com/2018/06/15/the-department-of-injustices-inspector-general-is-complicit-in-the-deep-state-cover-up/ (“The Department Of Injustice’s Inspector General Is Complicit In The Deep-State Cover-Up!”) and https://naegeleblog.wordpress.com/2018/05/24/should-barack-obama-be-executed-for-treason/ (“Should Barack Obama Be Executed For Treason?”)

[5]  See https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/#comment-14737 (“Vicious Un-American Efforts To Bring About Regime Change In The United States, And A Civil War”)

[6]  See id.; see also https://naegeleblog.wordpress.com/2010/10/04/john-f-kennedy-the-most-despicable-president-in-american-history/ (“John F. Kennedy: The Most Despicable President In American History“) (see also the extensive comments beneath the article)

In the case of Johnson, at the very least he was responsible for the senseless Vietnam War:

More than 58,000 Americans died for nothing, including friends of mine. More than 300,000 were wounded, not including the “walking wounded,” many of whom live in the United States today. Both the human and financial costs remain unfathomable: more than 2 million Vietnamese died, and many more were wounded and/or tortured.

See https://naegeleblog.wordpress.com/2018/05/06/what-atrocities-did-robert-mueller-commit-in-vietnam/ (“What Atrocities Did Robert Mueller Commit In Vietnam?”)

[7]  See, e.g., https://naegeleblog.wordpress.com/2017/10/20/the-real-russian-conspiracy-barack-obama-the-clintons-and-the-sale-of-americas-uranium-to-russias-killer-putin/ (“The Real Russian Conspiracy: Barack Obama, The Clintons, And The Sale Of America’s Uranium To Russia’s Killer Putin”) and https://naegeleblog.wordpress.com/2010/09/24/washington-is-sick-and-the-american-people-know-it/#comment-7185 (“Clinton Fatigue”)





The Bank Holding Company Act’s Anti-Tying Provision: Almost 50 Years Later

25 08 2018

 By Timothy D. Naegele[1]

The way that you bank is about to change, in ways you cannot fathom today.

The title of this article is also the title of a new law review article of mine—the third in a series for the esteemed, almost 130-year-old Banking Law Journal—which discusses the changes that are occurring.[2]  To protect those who deal with banks and other financial institutions, Congress enacted the anti-tying provision of the Bank Holding Company Act in 1970, which I wrote as a young attorney when I was counsel to the U.S. Senate’s Committee on Banking, Housing, and Urban Affairs.  The law established per se illegality for predatory tying on the part of such banks and other financial institutions.[3]

One commentator has noted:

[B]ankers looking at a wealth of new products have their eye on Section 106 of the Bank Holding Company Act Amendments of 1970, otherwise known as the Anti-Tying provision. This law bars a bank from providing or pricing one financial product on the condition that a customer commit to another, unrelated product.  . . .

As banks learn more and more about their customers and begin to build new products and packaged offerings, anti-tying laws will become increasingly dangerous. Institutions that can successfully navigate this law will be able to offer new, data-driven services, making mortgage offers to consumers who’ve just begun looking, or offering financial advice to households that may not even realize they’re in trouble yet.

Banks which are not careful, however, can very easily find themselves offering packaged deals that will bring the [regulators and/or litigators] calling.

Technology is about to change the way retail banking works, as long as they can stay on the right side of the law.[4]

More foreign entities are likely to enter U.S. markets, and do everything imaginable to escape the reach of American laws such as the anti-tying provision. This has been happening already. And at least one prominent U.S. District Court has looked the other way, with respect to (1) a California plaintiff, (2) a bank incorporated under the laws of Australia that maintained representative offices in Houston, (3) where “decisions” were made ostensibly in London.[5]

The anti-tying provision remains an effective tool that provides treble damages and other financial rewards to those who have been injured by the misconduct of banks and other financial institutions.

Capitol and flag

© 2018, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and Timothy D. Naegele Resume). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See Timothy D. Naegele, The Anti-Tying Provision: Its Potential Is Still There, 100 BANKING L. J. 138 (1983) (Naegele 1983) [http://www.naegele.com/articles/antitying.pdf]; Timothy D. Naegele, The Bank Holding Company Act’s Anti-Tying Provision: 35 Years Later, 122 BANKING L. J. 195 (Naegele 2005) [http://www.naegele.com/documents/antitying_3.pdf]; Timothy D. Naegele, The Bank Holding Company Act’s Anti-Tying Provision: Almost 50 Years Later—Part I, 135 BANKING L. J. 315 (June 2018) (Naegele 2018, Part I) [Timothy D. Naegele-Part I]; Timothy D. Naegele, The Bank Holding Company Act’s Anti-Tying Provision: Almost 50 Years Later—Part II, 135 BANKING L. J. 372 (July/August 2018) (Naegele 2018, Part II) [Timothy D. Naegele-Part II] [The combined article, which was printed as Parts I and II, can be read by clicking on this link: Timothy D. Naegele Banking Law Journal]. See also Timothy D. Naegele, Are All Bank Tie-Ins Illegal? 154 BANKERS MAGAZINE 46 (1971) (Naegele 1971) [http://www.naegele.com/articles/banktieins.pdf]; and Naegele 2018, Part I, p. 318 n.3 (“[T]hose within the Federal Reserve System (‘Fed’) tried to weaken [the anti-tying provision] with a proposed ‘interpretation’ [that the Fed never adopted . . . and wisely so]”) (see also OP-1158_56_1 [letter sent by Timothy D. Naegele to each member of the Federal Reserve Board (March 16, 2005), and Timothy D. Naegele, Fed Plan Would Simply Gut Enforcement Of Ban on Tying, AMERICAN BANKER (January 21, 2005)]); and Timothy D. Naegele, Standby Letters of Credit And Other Bank Guaranties, Compendium Of Major Issues In Bank Regulation, Committee On Banking, Housing And Urban Affairs, United States Senate 621 (May 1975) [Naegele-Standby Letters of Credit And Other Bank Guaranties].

[3]  It is the only American law that was adopted expressly to prevent such predatory tying arrangements by banks and other financial institutions.  The Sherman and Clayton Acts were deemed inadequate to address such problems.  See, e.g., Naegele 2018, Part I, p. 335 (“Tying, of course, is an antitrust violation, but the Sherman and Clayton Acts did not adequately protect borrowers from being required to accept conditions to loans issued by banks. Section 106 was specifically designed to apply to and remedy such bank misconduct”).

[4]  See Eric Reed, “How to Make the Most Money From Your Bank in 2018,” TheStreet (Feb 15, 2018) (emphasis in original) [https://www.thestreet.com/story/14489253/1/how-to-make-the-most-money-from-your-bank-in-2018.html]; see also Naegele 2018, Part I, n.2.

[5]  See Signal Hill Service, Inc. v. Macquarie Bank Limited, 2013 U.S. Dist. WL 12244056 (C.D.Cal. June 12, 2013); see also Naegele 2018, Part II, n.78-95.

 

 





It Is Time For Trump Supporters To Fight Back

29 07 2018

 By Timothy D. Naegele[1]

Enough is enough!

Rudyard Kipling-The Beginnings

“The Beginnings” is a 1917 poem written by Rudyard Kipling.  It is about how the English, “although naturally peaceful, slowly [became] filled with a hate which [would] lead to the advent of a new epoch.  . . .  The context [was] the anti-German sentiment in Britain during World War I.”[2]

Americans of all colors, races, religious beliefs, ethnic backgrounds and origins (including native Americans), and political persuasions elected Donald Trump to change the course of the United States; and yes, to make America great again.  He is in the process of doing just that, yet the Left, the far-Left, the so-called “mainstream media,” and elements within the Republican party seek to destroy him and what he stands for.

Perhaps one of their more vocal “poster children” is the black racist Maxine Waters, who has literally called for the President’s head, and urged violence against his supporters.[3]  Equally despicable are Robert Mueller and his fellow “Deep State” co-conspirators, who sought to destroy the candidacy and the presidency of Donald Trump, and continue their traitorous actions.[4]  They must be vanquished. Nothing less will suffice; there is no other choice.

Lots of us began as Democrats, but will never vote for one again.  Like the British in Kipling’s poem, who rose up to defeat German imperialism and the Nazi hordes in two world wars, Trump supporters must rise up at every opportunity to smite down those who would seek to destroy the Trump presidency and our great nation’s heritage.[5]  We are in the midst of a war—America’s second Civil War—which may get uglier with each day that passes.  The stakes are the future of our great nation and its people.  Abraham Lincoln faced similar challenges.[6]

 

Bald Eagle and American Flag --- Image by © Ocean/Corbis

 

© 2018, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and http://www.naegele.com/documents/TimothyD.NaegeleResume.pdf). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See, e.g.https://en.wikipedia.org/wiki/The_Beginnings (“The Beginnings”) and https://en.wikipedia.org/wiki/Rudyard_Kipling (“Rudyard Kipling”)

[3]  See, e.g.https://naegeleblog.wordpress.com/2018/07/20/the-american-lefts-feeding-frenzy/#comment-14355 (“Maxine Waters Must Be Sent To Prison For The Rest Of Her Life”)

[4]  See https://naegeleblog.wordpress.com/2018/06/15/the-department-of-injustices-inspector-general-is-complicit-in-the-deep-state-cover-up/ (“The Department Of Injustice’s Inspector General Is Complicit In The Deep-State Cover-Up!”) (see also all of the articles and comments cited in the footnotes)

[5]  See, e.g., Zechariah 9:4 (King James Bible) (“Behold, the Lord will cast her out, and he will smite her power in the sea. . . .”)

The traitorous “Deep State” co-conspirators include but are not limited to Barack Obama; Hillary Clinton and former President Bill Clinton; and former Attorneys General Eric Holder and Loretta Lynch; Deputy Attorney General Rod Rosenstein and former Deputy AG Sally Yates; former FBI Directors Robert Mueller and James Comey; former Director of National Intelligence James Clapper; former CIA Director John Brennan; former National Security Advisor Susan Rice; former Deputy FBI Director Andrew McCabe; Senior Advisor to Obama, Valerie Jarrett; and DOJ/FBI current or former employees such as Peter Strzok, Lisa Page and Andrew Weissmann.

[6]  See, e.g.https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/ (“America’s Newest Civil War: 2017 And Beyond”) and https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/#comment-14348 (“This Is War!”)





The American Left’s Feeding Frenzy

20 07 2018

 By Timothy D. Naegele[1]

Like the feeding frenzy of rabid Hyenas, America’s Left has attacked the candidacy and presidency of Donald Trump, and seeks to destroy him.[2]

Lots of us began as Democrats, but will never vote for one again. We have watched as they have attacked nonstop.  They did this to Richard Nixon, and brought down his presidency.  And they tried to do it to Ronald Reagan, but were unsuccessful. Today, he is lionized as one of our greatest presidents.[3]

The United States has never been so divided in modern times, which inures to the benefit of our adversaries. Not since the Vietnam War, and the efforts to remove Nixon, have we witnessed Americans so pitted against each other, and such unbridled hatred in our body politic.  It is not healthy.

Many of us believed that Barack Obama was a mistake; and among other things, he exacerbated racial tensions in the United States.  However, we did not seek his ouster or try to destroy his presidency, regardless of how strongly we felt.[4]  No such restraints apply to America’s Left, much less its radical Left.

They put up a presidential candidate in 2016, Hillary Clinton, who was flawed beyond belief[5]; and they lost the election.  Since then, they have engaged in the most vicious politics possible, including physical attacks against those with whom they disagree, and nonstop harassment.  Any missteps on the part of President Trump, however minor, are seized on and trumpeted by those who hate him.

Most significantly, they have been aided and abetted by America’s Leftist “mainstream” media; and by the “Deep State”—or entrenched governmental holdovers from the Obama Administration, and those who have left but continue their treasonous actions.  Such wrongdoers include but are not limited to Obama; Hillary Clinton and former President Bill Clinton; and former Attorneys General Eric Holder and Loretta Lynch.

Others include Deputy Attorney General Rod Rosenstein and former Deputy AG Sally Yates; former FBI Directors Robert Mueller and James Comey; former Director of National Intelligence James Clapper; former CIA Director John Brennan; former National Security Advisor Susan Rice; former Deputy FBI Director Andrew McCabe; Senior Advisor to Obama, Valerie Jarrett; and DOJ/FBI current or former employees such as Peter Strzok, Lisa Page and Andrew Weissmann.[6]

 

Hyena-607169

 

© 2018, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and http://www.naegele.com/documents/TimothyD.NaegeleResume.pdf). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See, e.g.https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/ (“America’s Newest Civil War: 2017 And Beyond”) and https://naegeleblog.wordpress.com/2018/03/11/robert-mueller-should-be-executed-for-treason/ (“Robert Mueller Should Be Executed For Treason”) and https://naegeleblog.wordpress.com/2018/06/15/the-department-of-injustices-inspector-general-is-complicit-in-the-deep-state-cover-up/ (“The Department Of Injustice’s Inspector General Is Complicit In The Deep-State Cover-Up!”)

[3]  See https://naegeleblog.wordpress.com/2010/03/20/ronald-reagan-and-john-f-kennedy-a-question-of-character/ (“Ronald Reagan and John F. Kennedy: A Question of Character”) and https://naegeleblog.wordpress.com/2010/10/04/john-f-kennedy-the-most-despicable-president-in-american-history/ (“John F. Kennedy: The Most Despicable President In American History”) (see also the extensive comments beneath this article)

[4]  See, e.g.https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”) and https://naegeleblog.wordpress.com/2009/12/26/obama-in-afghanistan-doomed-from-the-start/ (“Obama In Afghanistan: Doomed From The Start?”) and https://naegeleblog.wordpress.com/2010/01/01/barack-obama-america%E2%80%99s-second-emperor/ (“Barack Obama: America’s Second Emperor?”) and https://naegeleblog.wordpress.com/2010/01/20/the-end-of-barack-obama/ (“The End Of Barack Obama”) and https://naegeleblog.wordpress.com/2010/09/01/the-speech%E2%80%94is-barack-obama-smoking-pot-again/ (“The Speech—Is Barack Obama Smoking Pot Again?”) and https://naegeleblog.wordpress.com/2010/09/09/are-afghanistan-iraq-and-pakistan-hopeless-and-is-the-spread-of-radical-islam-inevitable-and-is-barack-obama-finished-as-americas-president/ (“Are Afghanistan, Iraq And Pakistan Hopeless, And Is The Spread Of Radical Islam Inevitable, And Is Barack Obama Finished As America’s President?”) and https://naegeleblog.wordpress.com/2010/12/03/barack-obama-is-a-lame-duck-president-who-will-not-be-reelected/ (“Barack Obama Is A Lame-Duck President Who Will Not Be Reelected”) and https://naegeleblog.wordpress.com/2013/03/01/is-obama-the-new-nixon/ (“Is Obama The New Nixon?”) and https://naegeleblog.wordpress.com/2015/01/03/edward-w-brooke-is-dead/ (“Edward W. Brooke Is Dead”) and https://naegeleblog.wordpress.com/2016/01/16/the-obama-great-depression/ (“The Obama Great Depression”) and https://naegeleblog.wordpress.com/2017/10/20/the-real-russian-conspiracy-barack-obama-the-clintons-and-the-sale-of-americas-uranium-to-russias-killer-putin/ (“The Real Russian Conspiracy: Barack Obama, The Clintons, And The Sale Of America’s Uranium To Russia’s Killer Putin”) and https://naegeleblog.wordpress.com/2018/05/24/should-barack-obama-be-executed-for-treason/ (“Should Barack Obama Be Executed For Treason?”)

[5]  See, e.g.https://naegeleblog.wordpress.com/2010/09/24/washington-is-sick-and-the-american-people-know-it/#comment-7185 (“Clinton Fatigue”)

[6]  See, e.g., https://naegeleblog.wordpress.com/2018/03/11/robert-mueller-should-be-executed-for-treason/#comment-14289 (“One FBI Text Message In Russia Probe That Should Alarm Every American”)








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