Posted on 12/07/2008 9:33:39 PM PST by Attention Surplus Disorder
Very important story....
BTTT
I agree with you on the mafia aspect when it comes to the enormous concentration of wealth on this globe......but I have to include the politicians in with the rest of the population....they just have enough knowledge to sell out for a little more.
how are republicans in up to eyeballs? i’m not being sarcastic,
just looking for info. i did see that molinari and d’amato
lobbied for fannie mae. dems were able to pin enron and s&l’s
on repubs, i’d like to see some stuff pinned on dems. conservatives
should go after rangel nonstop.
Shades of Willy Sutton, the notorious bank robber, when asked why he robbed banks. "Because that is where the money is."
Crooks are in government because that is where the big money is.
The level of economic ignorance in the world is amazing.
So is using the right word sometimes.
If so, that generally follows many of the problems found in derivatives contracts and it is an area where having an exchange with listed contracts could conceivably be of help.
Extending the definition a bit to include insurance products sold over the years, that's always been an interesting part of such businesses: how do you assess premiums that also take into account the failure of counterparties (for instance, the Lloyd's scandal had many elements of the same problem in the reinsurance business, where entities would routinely reinsure themselves, guaranteeing "counterparty" failure in the event of problems.)
The obvious problem with creating an exchange for contracts as general as a CDO is trying to standardize the contracts enough to allow an exchange to operate. Finding standard terms for listed American-style equity options was not nearly so difficult of a task.
sadly, i lack financial understanding. but, i don’t repub congresscritters
need to be hamstrung by bush faux pas. i still think they should
find spokespeople without conflicts and calling the dems on it.
No kidding... Half the team were people he kicked off the campaign when we got the news out; Then he goes right back and puts them in posts... if one republican had balls, this would be a good time to remind folks, pre-hearings (unless they did away with those too... like our election system, financing, foreign money, what rules, pre-lawyer hell, intimidation plus, race card, no identification/documents/legislative letters from IL/medical records, thesis, school records, making up an office and two seals, still fundraising online for Jan, but then... so is Hill), no one says a word.
Don’t get me started on Paulson and others. I’m surprised the World Court or some countries haven’t brought charges against us re: these corrupt dems/finance thugs wrecking world markets.
bump
Depraved Paulson also wanted to exempt the bailout from any judicial, legislative, and regulatory review.
All of it pinpoints Paulson's overwhelming greed to get his hands on the bailout billions. First thing he did was station his own man---Neel Kashkari---to oversee the $700B bailout. Kashkari was Paulson's henchman at Goldman, and at Treasury.
US Sen. Jim Inhofe (R-Oklahoma) said that Congress was not told the truth about the $700 billion blank bailout. "The American people don't know how much money Treasury Secretary Henry Paulson has given away to anyone. IT COULD BE TO HIS FRIENDS. We don't know. There is no way of knowing.''
MEMO TO SEN INHOFE Keep digging; Paulson's unmitigated greed surely caused him to make mistakes---somewhere there is a paper/electronic trail waiting to nail him.
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REFERENCE Looting America: Treasury Secretary Paulson Threatened Senators with Martial Law
ChrisMartenson.com | 12/2/08 | Chris Martenson
Posted on 12/03/2008 6:46:00 PM PST by randita
(http://www.chrismartenson.com)
Some people think of Hank Paulson as our Treasury Secretary. I think of him as a 19 year veteran of Wall Street banking. At every turn of this entire bailout he has specifically advantaged banks over taxpayers, banks over industry, banks over homeowners, and banks over the future health and prosperity of this country. Is this surprising for a banking veteran? No, not really. But the tactics he used certainly are.
Consider this: [1] Sen. James Inhofe (R-Ok.) said yesterday that it was Treasury Secretary Henry Paulson who personally told Congressmen that there would be martial law in America if they did not pass the bailout of the banks as demanded by the Bush Administration. On Oct. 2, Rep. Brad Sherman (D-Calif.) said on the House floor that "Many of us were told in private conversations that if we voted against this bill on Monday the sky would fall, the market would drop two or three thousand points the first day, another couple of thousand the second day, and a few members were even told that there would be martial law in America if we voted no."
Now, Senator Inhofe, speaking on KFAQ radio station in Tulsa, has confirmed who it was that issued this threat. The interview host Pat Campbell asked Infhofe, "Somebody in D.C. was feeding you guys quite a story prior to the bailout, a story that if we didn't do this we were going to see something on the scale of the depression, there were people talking about martial law being instituted, civil unrest. Who was feeding you guys this stuff?" Inhofe replied, "That's Henry Paulson. We had a conference call early on, it was on a Friday I think--a week and half before the vote on Oct. 1. So it would have been ... the 19th of September, we had a conference call. In this conference call and I guess there's no reason for me not to repeat what he said, but he said, he painted this picture you just described. He said, This is serious. This is the most serious thing that we faced." --SNIP--
Folks, there's really no kind way to put this. Not only have we been subjected to the greatest theft of our wealth ever seen, but that looting operation is continuing today. --SNIP-- Copyright 2006-2008, ChrisMartenson.com (CMAL LLC). All rights reserved.
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GOLDMAN SACHS SCREWS US AGAIN Secy Pavelson told Congress bailout billions would be used for one purpose then the foxy, wily Pavelson changes horses in midstream and decides to use the billions for something else. Typical Wall Street chicanery. The heck with Congress enacting the bailout law for one use. Pavelson personally decides he and the G/S guys will use it for "something else."
As US citizens line up at soup kitchens and sell apples on street corners, Pavelson, Kashkari, and the G/S frat boys are cashing in bigtime......numbered offshore bank accounts, "parking" money at Goldman Sachs and other Wall Street entities; wire-transfers must be going 24/7.
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The late economist John Kenneth Galbraith blamed Goldman Sachs for policies causing the Great Depression of '29. In his book, The Great Crash, 1929, Galbraith, a key figure in JFK's admin, an entire chapter titled “In Goldman, Sachs, We Trust,” details the “large-scale corporate thimblerigging” that Goldman and other Wall Streeters practiced in the 1920s.
G/S frat boys at the highest levels of govt are now pulling the levers of power. Watching them operate, we know Goldman types promote their own interests relentlessly...........the rest of us be damned.
G/S insiders are pocketing as fast as they can----making motions to bail out the crooks who contributed to the economy's meltdown is part of the exercise in greed. Even Pres Bush was willing to give the USofA away to Paulson and Bernanke.
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Shades of Enron----hiding debt off the books---same scam used as Enron's CFO---Andy Fastow. Some of the folks that facilitated Enron's systemic corruption ended up in the Sub-Prime industry; and they facilitated those thieves with technology - just the same as they enabled Enron with it. Without Software and Technology, Argent/Ameriquest Mortgage never would have been able to "Revolutionize" the mortgage industry. Citigroup acquired the rotting carcass of ACCH (Aka Ameriquest, Aka Argent Mortgage) - specifically interested in ACCH's loan origination systems.
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