The Big Takeover -- How Wall Street insiders are using the bailout to stage a revolution

rollingstone ^ | Mar 19, 2009 12:49 PM | MATT TAIBBI

[longtermmemmory]

and now Obama is GUARANTEEING THE INFLATED PRICE!!!!

[Zionist Conspirator]

Are these the same “Wall Street insiders” who are “secretly behind Communism?”

[LomanBill]

>>cut his teeth in the Eighties working for Mike Milken, the granddaddy of modern Wall Street debt alchemists.

 

"Bernard Madoff, the Mafia, and the Friends of Michael Milken..."

 

"....By way of example: The man who formerly ran The Sapir Organization’s real estate portfolio is named Frederick J. Contini. In addition to being associated with the Genovese Mafia clan, Contini once entered a secret plea to racketeering...

[snip]
Evidence suggests that Bernard Madoff, the “prominent” Wall Street operator and former chairman of the NASDAQ stock market, had ties to the Russian Mafia, Moscow-based oligarchs, and the Genovese organized crime family.
..."

www.deepcapture.com

[PeterPrinciple]

Whatever is unregulated, all the action is going to pile into that.”

---

That is not a toss away statment. Need to think a little about that.

[Realism]

I agree with you. The blame can be spread so thin that it becomes transparent. Many took advantage knowing the risks and moral conflict involved, but hey its legal and if its not no one is watching. In the end its all about the beginning, deregulation! Who lobbied for the ability to make this happen, who approved knowing the individual gain and the public risk. Im quite sure I know the answer, few on this board would agree.

[concerned about politics]

Evidence suggests that Bernard Madoff, the “prominent” Wall Street operator and former chairman of the NASDAQ stock market, had ties to the Russian Mafia, Moscow-based oligarchs, and the Genovese organized crime family.

As well as a huge contributer to the democrat party, BTW.

[Realism]

“and now Obama is GUARANTEEING THE INFLATED PRICE!!!!”

Yeah, but I don't believe its all about the default homeowners. Backing the loans makes the situation (look) better, just another prop for the lenders.

[Tarpon]

You got it backwards, it was intentional regulation of the banking system, forcing them to make loans that never should have been made. And yes, a whole lot of people knew it was going on, derivatives were supposedly the protection being shopped around.

Protecting with distance is now we discover, no protection at all.

Bush pushed ADDI 2003 as a way to help recover from 9/11, which is now the final straw to a huge government mistake. I just can’t get that line of Bush’s out of my head “we now have more people owning homes than ever” ... right before they walked.

One of the reason the wife quit real estate, she saw that it was at best unethical what was going on, and at worst criminal, as many of the prosecutions are now showing. People were making the bucks in the loan origination fees.

[LomanBill]

>>As well as a huge contributer to the democrat party, BTW.

And the “hits” just keep coming...

[listenhillary]

It takes two to tango.

[Realism]

“derivatives were supposedly the protection being shopped around.”

These over leveraged derivatives and the ability for certain institutions to use them wasn’t legal 10-12 years ago. Lessons forgotten from the great depression.

[graywaiter]

Agree! My 17yo son is a pretty fair guitar player and receives several music mags a month. One of them must have sold their subscription lists because a “trial” copy of Rolling Stone showed up with Zero on the cover.

It hit the trash can, unread.

[Realism]

“It takes two to tango.”

I will do that for you, IF you do this for me. Thats the general nature of our political system.

[expatpat]

Banks are private entities, how can they be forced?

By govt. refusing to approve their mergers, by ACORN activists protesting outside executive's homes, etc., .....

[listenhillary]

Which came first the politician looking to control private industry to save the world or private industry looking to buy influence or forced to pay protection money?

[Tarpon]

You are right — The change came when the depression era Glass Steagel Act was effectively repealed ... It took decades of lobbying to repeal the Glass Steagel Act. The Glass Steagall Act was finally repealed in 1999 by Clinton. After the repeal, supporters called the change as the long-overdue demise of a Depression-era relic.

Say hello to the new old depression. The repeat of the pre-Glass-Steagel era is now upon us.

[Realism]

“Which came first”

You would need to consult an archaeologist on that one.