and America takes another one in the........
Posted on 01/07/2010 9:57:20 AM PST by NormsRevenge
George Snorey on Coast to Coast AM had an interesting guest on last night by the name of Walter Burien.
The gist of his offerings would portray our gubamint as being essentially a ponzi/confidence scam run by conmen&women. The populace is a flock being fleeced at will.
His recounting of financial tinkerings and out and out thievery would lead one to believe we are not well served as a people by a gubamint that serves no one but those who holds its reins and pursestrings.
Who’da thunk? ;-)
Hmmmm, wonder if yesterday's gossip story that Sen Dodd would be stepping into the Sec of the Treas job is now more real?
There are no coincidences in Beltway Politics... or so I hear.
first he refused to disclose his failure to pay taxes,
next he refused to disclose this issue.
time for him to go.
first he refused to disclose his failure to pay taxes,
next he refused to disclose this issue.
time for him to go.
This really stinks ... wonder if this “shocking” news on the undie bomber 0 is set to deliver is another diversion.
http://wallstreetpit.com/13453-geithner-must-go
According to Representative Darrell Issa, Republican of California, “It appears that the New York Fed deliberately pressured AIG to restrict and delay the disclosure of important information to the S.E.C.”. Not only did Geithner want to keep this information from the public, but also from fellow regulators. (Whoops, Geithner admitted he was never a regulator.) This smells fishy because it is. Geithner not only oversaw the operation but his office prohibited AIG from telling the truth about it.
//
In older news ...
http://www.newyorkfed.org/aboutthefed/org_nydirectors.html
Board of Directors
...
Jeffrey R. Immelt (bio) 2011
Chairman and Chief Executive Officer
General Electric Company
http://www.glennbeck.com/content/articles/article/198/29815/?ck=1
Maybe we have to start with the company whose CEO is a close financial adviser to the president of the United States, who helped write the health care bill and cap-and-trade bill and who has billions of dollars at stake: Jeffrey Immelt.
Immelt has been appointed by president to the board of directors to the New York Federal Reserve.
To prison. Along with the rest of this cabal.
this guys appointment always amazed me.
here he is in charge of getting everyone’s taxes, and he failed to disclose his failure to pay,..until his nominations hearings.
And then some stupid republican senator said words to the effect, “only this guy knows whats going on”..as an excuse to approve his appointment.
I guess obama couldn’t find anyone else in the U.S. who could do as good of a job as this guy.
When you state the fault is "mine and yours," I'm assuming you don't mean you and I in particular.
In my case, I've not done nothing.
After finishing my enlistment in the military (during which time I fought a hot war) in 1992, I was very active in the GOP when I actually believed in it as a party; chairmanships in campaigns, state and local party activities, Young Republicans - the works. I was at the Florida courthouses during the near riots. I was a "chad-count" watcher and, along with other FReepers, ran Jesse off the stage and out of my state.
I've helped organize large scale national and local property rights events and initiatives. I ran a well known Second Amendment website (gunfacts.org). I've been involved in local politcal organizing and activities. I couldn't begin to count how many "FRreeps" I've attended, nor could I count how many FR members I've gotten to know personally through these FReeps and other activities.
I now run one of the largest and most influential traditional Catholic websites on the planet. Currently, I also get involved with local Tea Party stuff (last protest attendance +- 5,000) and veteran issues.
Above is an incomplete list, posted not to pat myself on the back, but to say with all honesty that I, (though imperfect and not even anywhere near "good,") have not done "nothing." In fact, I've done nearly everything within my power, short of bankrupting my family (or engaging in illegal or immoral activities) to affect change and fight the good fight.
I must admit however, that seeing where all of this is heading, I'm beginnig to tire of it all. I might soon wind up as one of those who "do nothing," and simply end up taking care of me and mine.
Where’s Donald Trump? “Timmie, you’re fired!”
In other words, fraud was committed.
...Hmmmm!! Does not sound like the “smartest” guy on the block..... Oh, maybe the chopping block.
I truly meant that in the “generic” sense...you, and probably most of us here at FR have in a multitude of ways, tried to be the “finger in the dike” in most of our communities.
I think we’re starting to see a coalition of nationwide like-minded individuals starting to act more coherently together in the Tea Party movement. I’m not altogether sanguine that the rot can be completely extirpated. There have been silent, deep borers eating away since about JFK’s death. Eisenhower was probably, and Reagan may have been, truly “people’s presidents” ..but the party structure has been co-opted on both sides of the aisle such that each is primarily interested is directing the proceeds from the stream of forcibly extracted Federal compliance in their own direction. And this process, with modern informatics, is capable of being overcome in a networked society of like minded patriots.
Thank you for your service.
I'm a step beyond that.
Though I hope I'm wrong (and there are "twinkles" of hope) I fear that ultimately, the downward spiral has advanced to the point where the final BWOOSH seems increasing inevitable.
Timmy the tax cheat needs to resign!
These Brazen asses break the law and lie right to the face of the American People and act like they don’t have to take any ownership. Its embarassing we are quickly becoming a banana republic.
Typical there is a song by “Shaggy” everyone in Obamaland has memorized the lyrics...
When you get caught just “Say it wasn’t you”
Joe Wilson pegged it loud and Clear. THEY ALL LIE.
This is a good thread. bbbookmarking.
Shareholders got nothing - zero, zilch, nada. Bondholders in one deal got 11 cents on the dollar and 29 cents in the other. Bondholders, as secured creditors, are supposed to be first in line. The retirees pension and health plan, got a big chunk of the new companies. As junior creditors, by law they are supposed to get nothing until the senior creditors get paid in full.
On the other hand, Goldman Sachs got 100 cents on the dollar. In the absence of a deal, they would have gotten their assets pledged by them to be insured, handed back to them. These "assets" are worth 0 to 10 cents on the dollar. After that, they would have been junior creditors for the rest, and may have gotten a total of 10 to 30 cents on the dollar in bankruptcy. In Goldman Sachs case, in was trading at $200.27 before the crisis started, on 2 May 2008, and at $52.00 on 20 November 2008, for a loss of over 74%. They then rallied to $192.28 14 October 2009, for a net loss of 4%, and a gain of 269.8% from the closing low, before declining again as the financial sector is in the early stages of a second decline.
Goldman went from a market cap of $26.7 billion at $52.00 per share, to a market cap of $98.8 billion at $192.28 per share, for a gain of $72.1 billion. So, in addition to the direct gain of $13.2 billion from AIG to GS, there was an indirect benefit of another $58.9 billion, by shareholders knowing that the U.S. Treasury stands behind any mistakes Goldman Sachs executives might make.
It help to have friends in high places who are corrupt to the core.
You sure have a lot of figures. I suppose the execs at GS got huge bonuses as a reward for their increase in cap value. What a SCAM.
and America takes another one in the........
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