British PM calls for “Global New Deal,” Obama kicks back favors to unions, Swiss stand strong against U.S. bullying, Clinton implores China to continue buying U.S. junk assets, top Libertarian explains California’s budget problems, Rick Santelli sparks revolt over mortgage bailout, military preparing for Iraq exit, top economist rationalizes bank seizures, EU clamping down on financial industry, C.I.A. finally releases U.K. citizen after 7 yrs without formal charges and allegations of torture, Obama’s ratings fall, government to take big ownership stake in Citi, U.S. troops in Pakistan, and Social Security hits Obama’s reform agenda…just the latest in your Freedom Under Fire Report!

Everyday our liberties and freedom come under fire. The American Republic once protected its citizens from arbitrary abuse, extortion, and deliberate social engineering. Now the very same public servants who were meant to work for us connive daily on how to control our lives. The Republic is gone and we are left to fend for ourselves, to put up resistance to every encroachment on individual self-determination. The Freedom Under Fire Report provides daily coverage of the most important issues, so that you remain informed and ready to defend yourself. Read on and pass this around to everyone you think could benefit:

British Prime Minister Calls for “Global New Deal.”British Prime Minister, Gordon Brown, calls for a “global New Deal,” “a grand bargain between the countries and continents of this world — so that the world economy can not only recover but… so the banking system can be based on… best principles.”

Obama Mandates Union Labor for Construction Projects. President Obama signed Executive Order 13502 on Feb. 6th that mandates the use of union labor for federal construction projects. “President Obama’s executive order will drive up the cost of government at a time when we should be doing everything possible to save taxpayer dollars,” says RNC Chairman Michael Steele. It is the fourth union-friendly executive order that Obama has signed since taking office. Perversely, in another example of Orwellian double-speak, Obama’s rationale for this mandate is to “promote the efficient administration and completion of Federal construction projects.” There is nothing efficient about restricting competitive bidding and paying union workers above-market rates.

Swiss Refuse to be Bullied by U.S. on Disclosing Account Information. In a move that will surely anger the U.S. Internal Revenue service, the Swiss government has taken a hard line stance against American demands to release account information UBS has on its clients. Switzerland’s finance minister has accused U.S. authorities of “shock” tactics to compel holders of undeclared UBS accounts to come forward, but warned that court action to discover the names of thousands of clients would not succeed.

Swiss politicians from across party lines accused the government of weakness and ineptitude in submitting to US pressure and putting bank secrecy at risk. Bank secrecy is seen as a cornerstone of the country’s success as a financial center, which accounts for one third of the world’s offshore accounts. The Swiss refused to cave in to Nazi Germany, so hopefully they can continue to hold out against the IRS. The world must have a safe, secret banking center that is immune from political pillage.

Leaving China, Clinton Implores Continued Buying of U.S. Debt. “By continuing to support American Treasury instruments the Chinese are recognizing our interconnection. We are truly going to rise or fall together,” says Secretary of State Hillary Clinton. We can only wonder how the Chinese feel about the U.S. chastising them for human rights issues, demanding they “go Green”, and then begging them to keep buying our junk bonds on the way out?

Top Libertarian Explains California’s Financial Problems. Wayne Root ran as the Libertarian Vice President in the 2008 Presidential election. Root gives an excellent explanation of California’s financial troubles in this audio clip:

“Have you ever met anyone with a drug or alcohol addiction problem? Before they can recover they first have to hit rock bottom. The government of the state of California is an addict, a spending addict and they need to enter rehab. They’ve got to admit they have a problem in the first place. The people of California have got to stop enabling them.”

CNBC’s Rick Santelli Sparks Revolt Over Mortgage Bailout. When news came out on Obama’s mortgage subsidy plan CNBC’s stock exchange correspondent, Rick Santelli, became irate. He went off on a series of derisive remarks about the plan that were instantly cheered by traders on the floor:

“The government is promoting bad behavior. Do we really want to subsidize the losers’ mortgages?” Santelli then turns around and asks a group of Wall Street traders: “How many of you people want to pay for your neighbors’ mortgage that has an extra bathroom and can’t pay the mortgage.” Amid an outburst of cheers, one trader responds “How about we all stop paying our mortgage, it’s a moral hazard?” Santelli sums it up by reminding us that “Cuba used to have mansions and a decent economy, then they moved from the individual to the collective and they’re driving ’54 Chevy’s.”

Following Santelli’s outburst, White House Press Secretary Robert Gibbs attacked him in an act that Larry Kudlow dubbs “one of the worst attacks I’ve ever seen on the media.”

U.S. Military Preparing for Iraq Exit. The American military is shipping battlefield equipment through Jordan and Kuwait, testing possible exit routes in advance of a U.S. withdrawal in Iraq. Marine Corps and Army official the Associated Press that this is “part of a wider assessment, ordered by U.S. Central Command, to decide what items the military can transfer, donate, sell or toss away once a full-scale withdrawal is under way.”

Top Economist Calls for “Temporary Receivership” of U.S. Banks. New York University Stern Business School professor, Nouriel Roubini, is calling for the nationalization of U.S. banks. His plan would be for government to take them into a period of “temporary receivership” where they could restructure, fire management, and recapitalize so that they could eventually be sold back to private entities. Roubini coined the term “zombie banks” and argues that piecemeal bailouts only prop up institutions incapable of remaining solvent in the long run. “Between guarantees, liquidity support, and capitalization, the government has provided between $7 trillion and $9 trillion of help to the financial system. De facto, the government is already controlling a good chunk of the banking system. The question is: Do you want to move to the de jure step.” Or how about simply letting bad banks fail?

Europe will Own Up to its Responsibility to the World. In a sweeping move to implement broad market regulations, German Chancellor Angela Merkel stated that “Europe will own up to its responsibility in the world.” Leaders of several European nations agreed to press for sanctions on tax havens, caps for executive compensation, and a stronger role and increased funding for the International Monetary Fund (IMF). Europeans can sit tight knowing their governments define their “responsibilities to the world” for them.

British Detainee Returns Home After 7 Years in C.I.A. Custody. Astonishingly, a British man is returning home after nearly seven years in U.S. custody following his capture in Pakistan. The British government has been pressing for his release since August 2007. The man was never charged with a crime and alleges torture under C.I.A. interrogation.

Poll Shows Obama’s Ratings Fall, Still High. A national poll indicates that two of three Americans approve of Obama’s on-the-job performance thus far. Six in ten people support the stimulus bill, and the President has a 67% overall approval rating. The news, however, is that this is down 9% in just the last couple weeks.

U.S. Government Considers Large Stake in Citi. Citigroup is in talks with public officials that could result in the federal government taking a 25% to 40% equity stake in the bank. This would give the government significant voting authority in how the bank manages its affairs.

American Troops in Pakistan. More than 70 U.S. military advisers and technical specialists are secretly working in Pakistan to help its armed forces battle Al Qaeda and the Taliban.

Social Security Reform Added to Obama’s Agenda. President Obama is considering putting together a task force to draft potential solutions to Social Security’s financial shortcomings. The nation’s retirement program has unfunded liabilities nearing $20 trillion that could force a severe budget crisis in the coming years. One of Obama’s plans would be to apply payroll taxes to incomes above $250,000. Obstacles to reform come on both sides of the political spectrum-Democrats take a hard line on cutting benefits, while Republicans refuse to increase taxes.

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