- The Obama "recovery" plan, aka the "Tim Geithner plan" (which really SHOULD be called "The RUBINS/Summers/EMANUEL/GOLDMAN-SACHS plan") is NOTHING but YET ANOTHER GIVE-AWAY to the FAILED and FRAUDULENT BANKERS!!
JUST WHERE THE HELL did Mr. Obama get the notion that TIM GEITHNER - who PRESIDED OVER CATASTROPHE last year as just the #2 or #3 man behind Ben Bernanke AT THE FED - has ANY "good advice" to give ???!
THIS is DELUSIONAL!
JUST WHERE THE HELL did Mr. Obama get the notion that ROBERT RUBINS - who as Clinton's Treasury Secretary PUSHED President Clinton to SIGN the GRAMM-Leach Bliley Act (GLBA), and the EQUALLY ATROCIOUS Phil Gramm authored "COMMODITY FUTURES 'MODERNIZATION' Bill of 2000, and who just last year PRESIDED OVER THE BANKRUPTCY at Citi-Group (where, as an Executive, he had "earned" $115 MILLION over past 8 years) - has ANY "Good Advice" to dispense??!
THIS is DELUSIONAL!
Sure enough, right on schedule, HERE is a NY Times article, "Bank of America ACCCUSED of SETTING Up a Long Island branch that was BASICALLY A PONZI Scheme" !!
This above story (link) of course following news last week's news, where NY Attorney General Andrew Cuomo is GETTING a COLD SHOULDER from Obama and the White House, despite AG Cuomo TRYING to INVESTIGAGE __MASSIVE FRAUD__ at AIG's "Risk Assessment" division!
These stories are just the FIRST RUMBLE of an EARTHQUAKE, or Tsunami, or volcano, of HORRIFIC NEWS that is ABOUT TO ENGULF the Obama presidency, because Mr. Obama STUPIDLY, DELUSIONALLY, believes that there is NO (MASSIVE!) FRAUD in the past several years WORTH LOOKING IN TO !!
In his ARROGANCE to believe his self-centered, self-serving Bankster advisers, Mr. Obama SIMPLY DOES NOT CARE for those members of the American public who have been DEFRAUDED by - not just Bernie Madoff's fund, but DEFRAUDED by the MAJOR NAMES in American banking, BANK of AMERICA, Citi, JPMorgan-CHASE... and of coruse AIG and GOLDMAN-SACHS!
Goldman-Sachs men are TWO out of FOUR of Obama's top 4 advisors - both Rubins & Summers have drawn G-S paychecks in recent years!!
And these rumblings are coming IN SPITE of THE $1,500,000,000,000 - ONE-point-FIVE TRILLION taxpayer DOLLARS - that Mr. Obama has either voted for (in the First Paulson-Pelois $700 BILLION dollar bailout, when Obama was still a Senator in September 2008) - or the more recent bailout that Obama _personally authored_ and sent to congress, THESE PAST FIVE MONTHS, alone!
(Obama requested ANOTHER $800 BILLION dollars in BANK BAILOUTS from the White House earlier this past month.)
(note: "Market doing better?
OF COURSE it is doing better!" -
"They have just been given another TWO TRILLION DOLLARS in government/taxpayer dollars!" by Ian Welsh, HuffPost.)
And the CENTERPIECE of Obama's "NEW" plan - is TO GIVE MORE MONEY TO BANKERS, and to STILL to give them a LONG LEASH, to DO AS THEY PLEASE with that cash - because Mr. Obama sees NO, repeat NO, he see _NO!_ need for INVESTIGATIONS - MUCH LESS AUDITS, much less CRIMINAL AUDITS of the kind that FINALLY Closed Charles Keating's LINCOLN Savings & Loan!
Mr. Obama simply MUST sit down with some OUTSIDE experts ("outside" of his Rubins/Emanuel mafia
and here -
and get a BRIEFING on the sad course of the LINCOLN SAVINGS & LOAN scandal...
He, Obama, is FOLLOWING in the sorry footsteps of President H.W. Bush Sr., who FIRED the San Francisco District (one of the 11 Fed Districts besides Giethner's NY District) branch BANK EXAMINER, who was running a FORENSIC AUDIT of Keating's books - Bush Sr. FIRED that examiner, and hired INDUSTRY (Wall St.) super-lobbyist M. DANNY WALLS, who GAVE Keating ANOTHER YEAR to RUN UP LOSSES,
Bush Sr. and Walls COSTING TAXPAYERS ANOTHER BILLION DOLLARS (in 1980s money) of LOSSES before Walls himself was finally fired and Keating's Lincoln S&L finally shut down!
OUT OF GROSS IGNORANCE and STUBBORNESS, (and DEFERENCE to his FAILED and CORRUPT BANKERS), Mr. Obama is REPEATING _THE WORST MISTAKES_ of the aborted Bush-2 presidency!!
Here's ANOTHER breifing Mr. Obama needs to find time for:
Mr. Obama needs to take TWO MINUTES out of his busy day to ask his Chief of Staff, Rahm Emanuel: "Rahm, would your previous investment bank, _Wasserstein-Perrella_, SPEND A DIME to buy up a target company... before you did INTENSIVE AUDITS and INVESTIGATIONS of EVERY department and division of THAT (target) COMPANY's LIABILITIES and ASSETS???"
and of course Rahm would answer,
"What do I look like... that FOOL DICK CHENEY?!"*
Rahm has ONE standard for his PAYING COMPANY & clients... and another, 1,000 times WEAKER standard, for the 300+ million American citizens who are paying his (paltry, by investment bank) current WH Chief of Staff salary today!
**(note: Cheney, as Halliburton Chairman & CEO, infamously directed HALLIBURTON to BUY OUT and TAKE-OVER DRESSER INDUSTRIES... complete with Dresser's HUNDREDS of BILLIONS of dollars of ASBESTOS (mesothelioma) and related pending lawsuits.
- The "acquistion" WOULD HAVE BANKRUPTD Halliburton (it nearly did), but for Cheney's ARM TWISTING political clout in Republican Party & Congress (AND with CORRUPT, corporate, "Blue Dog" or "Conserva-Dems" Democrats) to get BILLIONS of dollars of lawsuits DISMISSED, VACATED, or reduced in favor of Dresser/Halliburton, at the expense of Dresser employees who wound up with terminal cases of cancer.)
Mr. Obama has SO STUBBORNLY stuck with his "GIVE my BANKER friends TAXPAYER BILLIONS - NO strings attached!" delusion for SO long, that his administration is already severely damaged.
Now the question is, "CAN HE DITCH Emanuel, Rubins & Geithner (and Summers), and still look credible?"
HOWEVER BLEAK _that_ prospect may be, the President BETTER START LOOKING IN TO IT NOW, before the TIDAL WAVE of CORRUPTION SCANDALS breaks loose, and HE looks like PART OF THE CORRUPTION.
IN MILITARY AFFAIRS, to be "BEHIND" the news, means to watch your divisions & brigades CHOPPED TO PIECES by enemy actions, attacks THAT YOU WERE NOT AWARE OF until the enemy crashed into your weak, unprepared, and disorganized lines.
In politics, especially regarding a FINANCIAL CRISIS during which YOU WERE A SENATOR for TWO entire years previous, being "BEHIND THE NEWS" means you are completely NOT in control...
...a political DEATH SENTENCE for a Democrat President coming into office during the first wave of a REPUBLICAN RECESSION.
(Hell: Mr. Obama's SELF-SERVING TEAM, couldn't even find out whether AIG's bonuses were the $156 million originally reported... or the $218 million dollars Reuters later reported! When YOU are BLINDSIDED by the SAME SCANDAL- TWICE IN ONE WEEK - you need to FIRE your (political) field commanders!)
for the BACK HISTORY of how Mr. Obama is COMPLETELY OBLIVIOUS of Bush's Senior's role in STAVING OFF INVESTIGATIONS of the FAILED, BANKRUPT, and USUALLY FRAUDULENT Savings & Loan thrifts, see these links and other, similar stories:
George H.W. Bush (Sr.), PHIL GRAMM, the DEREGULATION of the SAVINGS & LOAN industry; the BUSH-1 DEFICITS (aka "the LOOTING of the TREASURY) >> the BUSH-1 RECESSION, HUGE UNEMPLOYMENT, and RECESSION-INSPIRED RIGHT-WING TERRORISM, aka FORMER CIA & NIXON operative G. GORDON LIDDY, and TIMMY McVEIGH.)
Hell- EVEN MAUREEN DOWD understands THE RAMPANT FRAUD in these markets, BETTER than America's "brilliant" young President?!
(Wall St. insider: THE ENTIRE MARKET BUBBLE was BUILT ON FRAUD - America's president TOO DELUSIONAL to notice, or TOO COMPROMISED to do a thing about it!)
(Speaking of Mr. Obama being "DELUSIONAL," we couldn't resist posting this link from BUSINESS-WEEK reporter Shoshana Zuboff, who compares "the BANALITY" of Adolf Eichman's crimes, to the FINANCIAL CRIMES of THIS current economic crisis...
- and finds "By refusing to consider the consequences of their actions, those who CREATED [this current] FINANCIAL CRISIS _exemplify_ the BANALITY of EVIL" - that is, THE SAME "BANALITY OF EVIL" of CRIMES-AGAINST-HUMANITY war criminal Eichman!
(And, what the hell, we even have a TEXT-BOOK EXAMPLE of that financial _BANALITY of EVIL_ - the NEW YORK TIMES joining GOLDMAN-SACHS in GLOATING about their 2006 BILLION DOLLAR BONUSES - NOT ONE lousy effort by the "BANALITY OF EVIL" NY Times to try to LINK Goldman-Sachs BONSUSES, to the THOUSANDS of American families already FACING EVICTION that Christmas, as the FORECLOSURE CRISS was just STARTING to unwind in December of 2006!)
Goldman-Sachs, New York Times, practically GLOAT about their BILLIONS of dollars
Christmas 2006 bonuses - "How to spend ___x___ million dollars"!)
(We won't bore you with the story about how, EVEN THEN, Goldman-Sachs' "PROFTS" were ENTIRELY ARTIFICIAL, "PUMPED UP" by Goldman's friends at the Fed - GEITHNER and BERNANKE - and in Treasury (Paulson)!)
We have included nearly TWO DOZEN LINKS here, to SOME OF the BEST OPINIONS and ARITCLES AVAILABLE in the world today, regarding the American causes of this finanical crisis - and STILL Mr. Obama does not see cause to start ONE, NOT ONE finanical audit or investigation of these DOZENS of major companies, that are ALL literally CRUMBLING under the weight of their own FRAUD, greed, and CORRUPTION !!!
Inded, Mr. Obama has INVITED one of the major PLAYERS of the Citi BANKRUPTCY/meltdown into his own White House!!!
FINAL word: NOTHING we have said, detailed, documented, or linked above, was not either mentioned or alluded to in Frank Rich's masterpiece, "OBAMA's KATRINA MOMENT" op-ed from a week ago:
When, _8 short weeks_ into the young Obama administration, one of the two Obama supporters and token "LIBERAL" NYT columnist (the other Paul Krugman, who WAS an Obama supporter _until_ Obama's "economic plan" revealed itself to be the HENRLY PAULSON PLAN, partII) is comparing you to GEORGE W. BUSH's CRIMINAL DERELICTION of DUTY re the FLOODING and ABJECT, CRIMINAL FAILURE of federal disaster recovery efforts after New Orleans _federal_ dikes and levees gave way from post-Katrina rain, YOU KNOW you are CLOSE TO A BASKET CASE !!
America’s liberals lay into Obama
By Edward Luce in Washington
Published: March 27 2009
The liberal backlash against President Barack Obama has begun with many prominent left-leaning economists in the US attacking the administration’s plans to bail out the banks.
Paul Krugman describes the toxic asset purchase plan as “cash for trash”. Jeffrey Sachs calls it “a thinly veiled attempt to transfer hundreds of billions of US taxpayer funds to the commercial banks”. Robert Reich depicts Tim Geithner, Treasury secretary, as a prisoner of Wall Street while Joe Stiglitz says the plan “amounts to robbery of the American people”.
Bank chiefs hold peace talks with Obama - Mar-27Analysis: The onus of a bonus - Mar-27In depth: Obama’s first 100 days - Jan-20Geithner flags 'new rules to the game' - Mar-27Leaders urged to prevent bank witch-hunt - Mar-27On the blogosphere and beyond, Democratic economists accuse Mr Obama – along with Mr Geithner, and Lawrence Summers, the president’s senior economic adviser – of taking dictation from the same financiers who have brought the economy to the brink of depression.