Big Oil vs. the Fed: Double Standard?




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Barack Obama is talking about taxing those big, bad evil bankers to make up for losses on the bailouts and he's reviewing end of the year bonuses; can't have those greedy bankers making any profits — oh no. Confiscating profits is becoming standard fare in Washington: When a company makes "windfall profits," like when gas prices recently soared, politicians went after oil executives.

(BEGIN VIDEO CLIP, FEB. 2, 2007)

THEN-PRESIDENTIAL CANDIDATE HILLARY CLINTON: The other day, the oil companies reported the highest profits in the history of the world. I want to take those profits ...

(END VIDEO CLIP)

That evil Big Oil!

While you were barely scraping up enough cash to fill up your car and get to work, those greedy monsters were raking in record bonuses and profits, stealing food right off your dinner table, starving your children — how dare they!

Our politicians — because they care about you — took brave action and dragged oil executives to Washington, D.C., to give them a lecture. And now they're going after the banks.

But there's another company who's making obscene "windfall profits": the Federal Reserve. They announced a "windfall" of $52.1 billion ... hmmm, an entity independent of the government making "record profits" (their biggest ever).

You've seen the reaction to the banks. You've seen the reaction to Big Oil. But so far, nothing on the Fed. Hmm. Where are these people on the Fed?

(BEGIN VIDEO CLIPS)

REP. MAXINE WATERS, D-CALIF.: And guess what this liberal would be all about? This liberal will be about socializing ... uh, um ... would be about, basically, taking over and the government running all of your companies.

SEN. BYRON DORGAN, D-N.D.: Your profits are very handsome. In fact your individual compensation is very substantial. You’re doing really well, on the other hand there’s dramatic pain for consumers.

CLINTON: We should have a windfall profits tax on these outrageous profits of the oil companies …

THEN-PRESIDENTIAL CANDIDATE BARACK OBAMA: I have strongly called for a windfall profits tax …

CLINTON: The best way to do that is to construct and apply a windfall profits tax …

SEN. DICK DURBIN, D-ILL.: The idea of a windfall profits tax which I support

THEN PRESIDENTIAL CANDIDATE JOHN MCCAIN, R-ARIZ.: I don’t like obscene profits being made anywhere.

REP. ED MARKEY, D-MASS.: There should be a commitment that each of you make – I would recommend that 10 percent of your profits go into renewable energy projects.

(END VIDEO CLIPS)

Shouldn't our politicians be outraged to learn that the Fed made more in “windfall profits” than ExxonMobil? Well, if they were upset, it's hard to tell because there are no dog and pony show hearings scheduled. No one is threatening to take profits. No one is saying anything.

Why is it politicians are outraged at Big Oil, even though they kept profit margins low during the high gas prices, but when the profits benefit then there is no complaint?

The Fed raked in $52 billion for what, exactly?

• It was created in part to stop bank panics. How’s that one working out? Can you think of any big problems with the banks in recent history? Hmm, that's a tough one.

• The Fed was also created in part to bring economic stability — in other words — no more big bubbles bursting. Hmmm, can you think of any bubbles (cough, dot com; cough real estate) that have burst lately? That's another tough one.

Where are the politicians on this? When are the hearings? I'd like some answers. Will there be any penalty on the Fed? Who are they in bed with? Why can't we audit the Fed?

We are no longer a nation of laws. The double standards demonstrate this clearly:

• If you are Exxon and you make profits, well government needs to take that! But the Fed? Politicians turn the other cheek.

• AIG and Bank of America execs can't have bonuses. But Fannie or Freddie? No problem!

• If you don't pay income tax, off to the slammer you go. But Charlie Rangel or the 50 employees in the executive office of the president who currently owe $812,917 in taxes? Nothing!

• Trent Lott says nice things about an old guy at his birthday party — he's shamed, fired. Harry Reid calls Obama “light skinned” and without “Negro dialect” — he gets supported and defended.

• If you try and give your family the best health care plan, a “Cadillac plan,” you get socked with a 40 percent tax. But if you are in the right union, you are exempt

Today it's more about who you know than the rule of law. Robert Creamer steals $2.3 million from banks and he's excused by Democrats because he was helping the poor.

No: It's either right or it is wrong.

When we start caving because of the R or the D or justifying breaking the law because “the ends justify the means,” we're finished. We are supposed to be a nation of laws, not the nation of favors. Washington told us this was the secret of the republic: We are a nation of laws, not of men. Now it only seems to matter what man you are or what man you know.

— Watch Glenn Beck weekdays at 5p & 2a ET on Fox News Channel

Everything comes down to the two Senate runoffs in Georgia. If we lose both races, we lose the country. Democrats know this and are pouring in millions to usher in a Marxist agenda.

As the Left tries to hide how radical the two candidates really are, Glenn takes us inside the Democrat war room to expose the wolf in pastor's clothing, Raphael Warnock, and America's Justin Trudeau, Jon Ossoff. Socialism, the Green New Deal, and "defund the police" are all on the table. And Glenn warns of what's to come if conservatives don't activate: Chuck Schumer will weaponize the Senate, and the radical Left will launch an all-out assault to ravage the Constitution.

Watch the full special below:

The election and its aftermath are the most important stories in America. That's why we're offering our most timely discount ever: $30 off a one-year subscription to BlazeTV with code "GLENN." With BlazeTV, you get the unvarnished truth from the most pro-America network in the country, free from Big Tech and MSM censors.

Sen. Ted Cruz (R-Texas) joined the "Glenn Beck Radio Program" to explain how mail-in ballots are typically disqualified during recounts at a far higher rate than in-person, Election Day ballots, and why this is "good news" for President Donald Trump's legal battle over the election.

"One of the things that gives the greatest cause for optimism is, this election ... there's a pretty marked disparity in terms of how the votes were distributed. On Election Day, with in-person voting, Donald Trump won a significant majority of the votes cast on in-person voting on Election Day. Of mail-in voting, Joe Biden won a significant majority of the votes cast early on mail-in voting," Cruz explained.

"Now, here's the good news: If you look historically to recounts, if you look historically to election litigation, the votes cast in person on Election Day tend to stand. It's sort of hard to screw that up. Those votes are generally legal, and they're not set aside. Mail-in votes historically have a much higher rate of rejection … when they're examined, there are a whole series of legal requirements that vary state by state, but mail-in votes consistently have a higher rate of rejection, which suggests that as these votes begin being examined and subjected to scrutiny, that you're going to see Joe Biden's vote tallies go down. That's a good thing," he added. "The challenge is, for President Trump to prevail, he's got to run the table. He's got to win, not just in one state but in several states. That makes it a lot harder to prevail in the litigation. I hope that he does so, but it is a real challenge and we shouldn't try to convince ourselves otherwise."

Watch the video clip below to catch more of the conversation:

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Fox News senior meteorologist Janice Dean is perhaps even more disgusted with New York Gov. Andrew Cuomo (D) for his coronavirus response than BlazeTV's Stu Burguiere (read what Stu has to say on the subject here), and for a good reason.

She lost both of her in-laws to COVID-19 in New York's nursing homes after Gov. Cuomo's infamous nursing home mandate, which Cuomo has since had scrubbed from the state's website and blamed everyone from the New York Post to nursing care workers to (every leftist's favorite scapegoat) President Donald Trump.

Janice joined Glenn and Stu on the "Glenn Beck Radio Program" Tuesday to ask why mainstream media is not holding Gov. Cuomo — who recently published a book about his leadership during the COVID-19 pandemic — accountable?

"I'm vocal because I have not seen the mainstream media ask these questions or demand accountability of their leaders. [Cuomo] really has been ruling with an iron fist, and every time he does get asked a question, he blames everybody else except the person that signed that order," Janice said.

"In my mind, he's profiting off the over 30 thousand New Yorkers, including my in-laws, that died by publishing a book on 'leadership' of New York," she added. "His order has helped kill thousands of relatives of New York state. And this is not political, Glenn. This is not about Republican or Democrat. My in-laws were registered Democrats. This is not about politics. This is about accountability for something that went wrong, and it's because of your [Cuomo's] leadership that we're put into this situation."

Watch the video excerpt from the show below:

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As America grows divided and afraid to disagree with the Democrats' woke plan for America, Megyn Kelly is ready to fight back for the truth. For nearly two decades, she navigated the volatile and broken world of the media. But as America leans on independent voices more than ever, she's breaking new ground with "The Megyn Kelly Show."

She joined the latest Glenn Beck Podcast to break down what's coming next after the election: Black Lives Matter is mainstream, leftists are making lists of Trump supporters, and the Hunter Biden scandal is on the back burner.

Megyn and Glenn reminisce about their cable news days (including her infamous run-in with then-presidential candidate Donald Trump) and to look into the chaotic and shady world of journalism and the growing entitlement it's bred. For example, many conservatives have been shocked by how Fox News handled the election.

Megyn defended Fox News, saying she believes Fox News' mission "is a good one," but also didn't hold back on hosts like Neil Cavuto, who cut off a White House briefing to fact check it — something she never would have done, even while covering President Obama.

Megyn also shared this insightful takeaway from her time at NBC: "Jane Fonda was an ass."

Watch the full podcast here:

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