'PONZI SCHEME' AT CITI; SUIT SLAMS RUBIN (insiders reaped millions on toxic investments)

NY POST ^ | 12/4/08 | PAUL THARP

[Liz]

Rubin graduated from Miami Beach High School............where he was voted "Most Likely to Succeed To Be A Crook."

ROFLMCO.

[Condor51]

Rubin and other top insiders were able to ... cash out more than $150 million for themselves in "suspicious" stock sales..."

Rubin cleared $30.6 million .. Prince got $26.5 million, Robert Druskin got nearly $32 million and ... Todd Thomson got $25.7 million..."

Now isn't that interesting. And right before they go begging for $300 BILLION of OUR Money. No wonder they were oh-so willing to do this (from another source of today).....

Citigroup's top executives -- including former Treasury Secretary Robert Rubin -- are expected to forego their bonuses this year amid pressure to atone for the company's huge losses and a $300 billion government bailout....

And isn't THIS 'special (from another source of today)....

Rubin told the board that his bonus money could be better spent on other employees

Dang! Whatta guy this Rubin is! Why thanks to his generosity that poor little crippled Tiny Tim WILL now get that Christmas Goose dinner after all. Heck, there may even be some money left for a couple of extra clumps of coal for the fire.

This just breaks me all up. I think I'm gonna cry.

[Liz]

Whatta guy this Rubin is! Why thanks to his generosity that poor little crippled Tiny Tim WILL now get that Christmas Goose dinner after all. Heck, there may even be some money left for a couple of extra clumps of coal for the fire. This just breaks me all up. I think I'm gonna cry.

Sob----I'm all broke up about it myself.

[fortunecookie]

Sadly, when you're amassing 115 million over 8 or so years, a lot of little people who work under you are earning less and losing their jobs. It smacks of robbery. The bailout hopefully (and I know it's a longshot) will bail out the company for those employees who do their jobs, follow the company rules, and if not already out of work, are certainly job endangered. It seems Citi was raped of millions with the employees and clients alike damned. It's a negative trickle down economics.

Rubin should explain just what he's been doing. He may just be the Milken or Lay of this year. And should he be found to be in violation, and prosecuted, let's hope he's not pardoned in the future by our next president.

[ninonitti]

I wonder if any of this is related to what Rush was talking about lo those many years ago?

IIRC it involved manipulation of the short and long T-bill or bond rates but that was at least 10-12 years ago.

The image of unexploded mines comes to mind thinking about it.....buried long along but still lethal.

The irony of of seeing Rubin's legs blown off by them is too rich

[ninonitti]

Harvard University's endowment lost more than $8 billion in four months

Buried in that piece is a mention that they have 20 some odd percent in hedge funds.....they can kiss that goodbye unless they've been shorting autos and housing

......my hunch is it's in financials hence the bailout to Wall St instead of Main St.

[LomanBill]

[The bailout hopefully (and I know it's a longshot) will bail out the company for those employees who do their jobs, follow the company rules, and if not already out of work, are certainly job endangered.]

 

I Disagree.

 

There's way to much "blissful ignorance" among the individuals who enable the systemic corruption of these predators.

 

 

 

 

Enron was enabled by some of the same individuals who enabled these Pirates:

 

 

Proud Pirates of the American Dream.

 

 

If the INDIVIDUALS working for these companies don't force their employers to clean up their acts, then the only bailout they deserve is a tin can for bailing water out of a prison cell toilet.

[fortunecookie]

Well that’s true enough. No doubt plenty of greed and corruption out their and employees willing to ‘help’. And no doubt they got some sort of job security and/or reward for their assistance, even when their bosses went down. So where does the ax swing? At the hapless, need the job, not involved in corruption folks, and you need to fire more of them to save the amount of the salary of just one or 2 upper echelon guys. Some of us have experienced that personally. The individuals don’t always find they can do anything, until they find a new job, and end up on the chopping block anyway. And I don’t really think the bailout (I hate that name for it, but that’s what our thinktank Congress and Senate have morphed it into, just tacking on their own pork) will be all that effective as it’s drafted now.
Btw, love the visuals, and now I’m strangely craving cupcakes...

[LomanBill]

>>Btw, love the visuals,

 

[Elvis Voice]  Thank you, thank you very much. [/Elvis Voice]

 

 >>and now I’m strangely craving cupcakes...

 

Same ol' same ol' - the Tyranny of the Appetite.

 

Whether it's free cupcakes, or free pie - the monkey created on the backs of the American people is pretty much the same.

 

 

 

 

Heres a graphic Ameriquest was quite PROUD of - a photo the Ameriquest Rainbow Blimp... floating to the LEFT of Hollywood, that was hanging in Ameriquest's Corporate HQ.   It was the symbol of "Soaring Dreams" the philanthropic warm puppy that Ameriquest had their employees snuggle with whilst consuming their prey, and polluting the global financial pond with their a$$paper. Predictably, some of Ameriquest's favorite charities were AIDS related.    "Do what thou wilt shall be the whole of the Law" - Right?

 

Natural Born Predators

 

 

"The women are lovely, the wine is superb; but there's something about this song that disturbs you..."

 

 

Are You Under the Power of Gold?

 

 

 

 

Ex 32:8
8 They have been quick to turn away from what I commanded them and have made themselves an idol cast in the shape of a calf. They have bowed down to it and sacrificed to it and have said,

 

'These are your gods , O Israel, who brought you up out of Egypt.'

 

[GOPJ]

As always...”Follow the Money”

You're right. Their words are smoke screen - the truth is action - follow the money...