update: President Obama's (de facto or explicit, it doesn't really make a difference) APPROVAL of "BONUS PAYCHECKS" for the top dozen executives at Fannie May and Freddie Mac,
http://www.huffingtonpost.com/2009/12/24/fannie-freddie-pay-execs-_n_402825.html
and crossposted from AP here http://keenesentinel.com/articles/2009/12/24/news/national/free/id_384080.txt
is a textbook example of President Obama's TREACHEROUS WET-KISS alliance with the big financial corporations, and a huge STAB IN THE BACK for Democratic & Independent (and millions of Republican) voters HOPING for some "CHANGE" from Washington in election 2008.
The just announced bonuses amount to between $4 MILLION and $5 MILLION in CASH for each of those Fannie & Freddie executives, who won't be paid in stocks, because Fannie & Freddie stocks ARE NEARLY WORTHLES - EVEN AFTER the American taxpayers have been forced to SHELL OUT OVER $111 billion dollars - ONE-HUNDRED and ELEVEN BILLION dollars of taxpayer-extorted bailouts! to Fannie & Freddie, and even as Mr. Obama has INSANELY, TREACHEROUSLY done NEXT TO NOTHING to use those tens of billions of dollars to KEEP home-owners and mortgage holders IN THEIR HOMES... even as foreclosure & eviction BRING THE PRICES of NEIGHBORING HOMES in a community down, by the sight of vacant homes standing idle and deteriorating!
Mr. Obama is now on the side of those corrupt sheriffs, over-zealous (corrupt) tax-collectors, and fraudulent bankers & loan-sharks WHO CREATED the conditions that led to SHAY's REBELLION of 1787, and the WHISKEY REBELLION of 1791, except that Mr. Obama has none of President Washington's record of leadership and sacrifice as the commanding general during the Revolutionary War as he sides with the financial predators, who SOCIALIZE THEIR LOSSES, as they use the cusion of taxpayer billions to FORECLOSE on, EVICT from their homes, and GUT the social safety net of American citizens.
=================================
Will President Obama and the RAHM EMANUEL/Goddamn-Sachs White House (and their subservient "Democratic" Congress and senate)
GIVE "LIBERALISM" a BAD NAME, for a generation to come?
That's the question posed by former Democratic Congressional Hill staffer Lawrence O'Donnell
(also creator of the "West Wing" TV drama series and current MSNB "Countdown" news show guest anchor) in his comments on on Tuesday's MSBC's "Morning Joe" show, as captured by (video available at) HuffingtonPost.com:
http://www.huffingtonpost.com/2009/12/22/odonnell-health-care-bill_n_400672.html
That is now, sadly, an entirely appropriate question, and entirely plausible scenario, because the
Obama/Emanuel White House is now trying to ram a "MANDATES" infested "health care 'reform'" bill down distressed (not to say "distraught") American health-care consumers' throats, and, just Christmas day, we learned that the
INSANE Emanuel/Obama/GoddamnSachs White House wants to
INSTITUTIONALIZE __UNLIMITED BAILOUTS__ to corporate banks, via a "new plan" for
UNLIMITED bailouts of Fannie Mae and Freddie Mac's financial losses!
You read that correctly, not $100 billion in bailouts, not the
$400 billion in bailouts of 3 weeks ago, , not even the new,
$800 BILLION ($400 billion each) in "bailouts" for Fannie Mae and Freddie Mac that the White House
floated just last week, but now the "new" news out of the Emanuel White House is that the new "support" for Fannie & Freddie losses is
POTENTIALLY ___UNLIMITED___ taxpayer funded "bailouts" for Fannie & Freddie!
Note how the Wall Street Journal writes up this looming atrocity
(and how their headline downplays or fudges the astounding possibility of ANOTHER, UNLIMITED, INSTITUTIONALIZED "bail out") using the time-tested major media buzz words such as
"continued strength and stability" and
"controversial" (to make critics sound like whiners), and
"reassuring," as in "market[s] would find a larger commitment from the Treasury
reassuring."
Well, of course they would! The FINANCIAL OVERLORDS who RULE the Congress, the Senate, the Obama White House (and who previously ruled the Bush-Cheney White House and Republican congress & senate) will find it "REASSURING" that the Government WILL __continue__ to EXTORT TAXPAYERS, for potentially UNLIMITED BAILOUTS, WHENEVER "the market" makers, bankers, large hedge funds, and "investment institutions" make their bad bets!
This is
SHEER CORPORATE COMMUNISM, or to be more precise,
MEDIEVAL FEUDALISM, with the stamp of approval of all the usual suspects at the Emanuel/GoddamnSachs/obama administration, in "major media," and in the insanely corrupt, conflicted, and treacherous "Ivy League" academic insitutions, which are SUPPOSED to be riding shotgun on the press/media, but are in fact ALLIED WITH the press/media, Congress, and Big Finance in
TRYING to EXTORT and DEFRAUD as much wealth from the American public as is humanly possible - ENRON FRAUD, writ large!
Here's a hint, direct quote from the WSJ, of the real story we have tried to outline above:
"Some Republicans are angry the administration is EXPANDING the potential size of THE BAILOUT
without having a plan for eventually
ending the federal government's role in the companies."
This is
UNLIMITED GOVERNMENT PAYOUTS, to Fannie & Freddie, who are buying up
bad loans, WRITTEN by PRIVATE banks!
This is PURE SOCIALISM of PRIVATE banks losses!
THIS IS RAHM EMANUEL and GODDAMN SACHS, turning the entire US government INTO a "MEDIEVAL EXTORTION and SUPPRESSION of the peasants & serfs" system, just as "indentured servants" was once a polite way to say "white slaves."
The in-bed-with-Wall-Street Wall Street Journal reports:
U.S. Move to Cover Fannie, Freddie Losses Stirs Controversy
By James R. Hagerty and Jessica Holzer
December 26, 2009
http://online.wsj.com/article/SB126168307200704747.html
The Obama administration's decision to cover an UNLIMITED AMOUNT of LOSSES at the mortgage-finance giants Fannie Mae and Freddie Mac over the next three years STIRRED CONTROVERSY over the holiday. [this is not 'controversy' - it is GIVING BILLIONS of TAXPAYER DOLLARS away, with NO OVERSIGHT - more bailouts madness, a SHEER ATROCITY, and the WSJ _downplays_ the insanity by calling it merely "controversial," implying that those who are being critical are causing the "controversy," and not the other way around!]
The Treasury announced Thursday it was removing the caps that limited the amount of available capital to the companies to $200 billion each.
UNLIMITED ACCESS to BAILOUT FUNDS through 2012 [FOR THREE MORE YEARS!] was "necessary for preserving the continued STRENGTH and STABILITY of the mortgage market," the TREASURY SAID. Fannie and Freddie purchase or guarantee most U.S. home mortgages and have run up huge losses stemming from the worst wave of defaults since the 1930s.
The worst part of the above GODDAMN-SACHS/Emanuel ATROCITY, is that it is NOT IN THE LEAST BIT concerned with HOME BUYERS and MORTGAGE HOLDERS - who, DESPITE the guarantees of UNLIMITED BAILOUT BILLIONS for the banks,
will STILL FACE FORECLOSURE and EVICTIONS by the banks in 2010, just as they have seen RECORD FORECLOSURES & EVICTIONS in 2009, because this is
PURE EXTORTION, LARCENY, and PROFITS for THE RICH
and ONLY the connected, autocratic, kleptocratic, feudal, extortionate wealthy and their "TRUSTS" and monopoly cartels and financial stranglehold on the US Congress, banking system, and press/media.
THIS IS PURE, ROB the working taxpayer, to ENRICH the RICH (and especially Goddamn-Sachs & JPMorgan-Chase) BY the Emanuel/Goddamn-Sachs White House, and there are STILL "Liberals" and "Democrats" DEFENDING Emanuel/Goddamn-Sachs SERIAL EXTORTION racket and BRIBERY of our congress, White House, and press/media!
The Emanuel/Baucus/Lieberman/insurance-lobby written "Health Care 'Reform' bill" that has President Obama's stamp of approval, and that just passed the Senate with a 60-39 vote on Christmas eve, is an ATROCITY of a bill that will see Democrats OUSTED from their House and Senate majorities in record numbers - just as the previous
Congressional Democrat's resounding DEFEATS in 1994 handed the House majorities to Newt Gingrich's "Contract on America" Republicans.
This scenario has already been outlined by Jane Hamsher, among others, in her
"Is Rahm Emanuel Orchestrating A MASSACRE of Democrats in 2010?" November 2009 editorial at
FireDogLake.com.
"The problem" with America's (government) "leadership" today, which is to say "the problem" with the "Democratic" Party
(which currently controls the House, Senate, and White House, which IS the US government), is that there are millions of so-called "Democrats" and "liberals" out there
, who abjectly FAIL to see that there is NOTHING, NOTHING, NOTHING "liberal" about the Rahm Emanuel and Golddamn-Sachs White House, except that they have
HIJACKED the Congress' token Black (African-American) Senator, and, now that former Senator Obama is president, the
Emanuel/Goddamn-Sachs crew are using him (Obama) as a FRONT to PRETEND that they are "liberal" and "Democratic"!
To begin with, Mr. Obama has ALREADY handed over, literally, UNCOUNTED TRILLIONS of taxpayer dollars in "BAILOUTS" - in the form of "bailouts," "loan guarantees," low interest rates (approaching 0%, _zero_ percent!), and (for example), the 'right' of large banks to keep extorting Ameica's credit-card and banking finance customers; if not in the form of other outright gifts and corporate favoratism.
It is simply astounding how the insanely corrupt corporate ("major") press-media can report "Golddamn-Sachs, JPMorgan-Chase, Citi, Wells Fargo"
(and/or other big banks) have "paid back $20 billion dollars" each in bailout funds... and then flat out assert that "all the BAILOUTS have been REPAID in FULL" !
The US "major media" CAN NOT or will not even report on the TOTAL "BAILOUTS" cost to US taxpayers... the "major media" is SO CORRUPT, that they can not even give the American public a ballpark figure on the "Bailouts" total, which is THE STORY for the past 2 years, and THE STORY for the coming decade!
Even if five large banks paid back $20 billion each (which they haven't) this would still amount to only $100 billion - a mere PITTANCE in the
TOTAL "bailouts" funds for which American taxpayers have been EXTORTED into paying by the bought, bribed, and owned congress - total bailouts estimated at well over TWENTY TRILLION taxpayer EXTORTED dollars!
(That's nearly 2 times the ENTIRE annual US GDP.)
The above "bailouts" financial atrocity, to repeat,
TRILLIONS of dollars EXTORTED from American taxpayers, by the Bush-Cheney & Obama-Emanuel administrations, and a corrupt, bribed Congress, are only a part of the story, for in "Health Care" "reform,"
President Obama has BEEN IN THE POCKET of BIG INSURANCE COMPANIES from day one as well...
...t
here is NOTHING "LIBERAL" about Obama's "Health Care reform" plan, except that it
PRETENDS to give some 30 million Americans insurance coverage, who don't have coverage today.
But this, too, is a FRAUD, a con, and a FARCE, because there are NO LIMITS to insurance companies DROPPING those in that 30 million pool, who would be needing expensive health care in the future, just as AETNA 'health' insurance company, which has
_already_ DONATED $244 MILLION to the Obama led "Democratic" campaign coffers for 2010,
CANCELLED 'health' insurance coverage, for 650,00 Aetna customers
(which is to say, "American citizens") - as we reported here at DemNationUSA and
others reported earlier this month!
Meanwhile, EVERYONE ELSE in America's catastrophic 'health care' system will STILL BE PREY to up to 20% annual rate hikes,
TWENTY PERCENT annual insurance premium rate hikes, modified or restrained ONLY by theoretical, clunky, government "REGULATORY" agency oversight, which will HAVE NO TEETH in the face of massive insurance & finance lobbies' pressure:
as WE HAVE ALREADY SEEN, THE "government oversight agency" charged with OVERSEEING the financial and "securities" market - the SEC - has been ABJECTLY INCOMPETENT at doing so over the past eight or nine years... EVEN with the TITANIC WARNING SALVO of ENRON's collapse from SHEER FINANCIAL accounting FRAUD,
the so-called "
ENRON ACCOUNTING" made possible by the
"ENRON LOOPHOLE" in the
Commodity Futures 'Modernization' Act......
(
SIGNED in 2000, by so-called "liberal" Democrat President BILL CLINTON's SIGNATURE! )
At every step of the way in the abysmal "health care reform" process of 2009, Mr. Obama NEVER CHALLENGED the Republicans as "OBSTRUCTIONISTS" - as a Repub. President SURELY would have challenged Dems who, for example, opposed another TAX CUT for WEALTHY.... ....and, at every step of the way, Mr. Obama ENABLED the "Blue Dogs" and Joe Lieberman.... ...because
EVERY step of the way, Mr. Obama was IN LEAGUE with the ('health') INSURANCE COMPANIES, OVER the needs and desires of millions of American citizens, consumers, and voters...
....A clear 59% of Americans want SOME form of government single payer health care, whether it is a "Public Option" health insurance, or an EXPANDED Medicare, or whatever.
(note: even Right-leaning Politico.com notes that even voters in "conservative, southern state" Arkansas are AT ODDS with their "Democratic" Senator Blanche Lincoln's OBSTRUCTION of a Public Option type of reform bill.... 56% of Arkansans, according to a Research 2000 poll.
http://www.politico.com/blogs/glennthrush/1009/Ark_poll_Public_option_popular_Lincoln_not.html
Remember, ALL these polls showing great public support FOR a "Public Option," are IN SPITE of an atmosphere created by the national news "major media," the Republicans, corporate America, AND the Obama White House and Senate "Democrats," BADMOUTHING the public option at every opportunity, for the past twelve long months!)
In TYPICAL DICTATORIAL FASHION, Mr. Obama and his soulless minions are saying, "WELL, IF you don't pass our bill, THIRTY MILLION Americans won't have ANY health care that this bill provides."
This CRUEL tactic by team Obama is WRETCHED, because the flip side of the coin is it FORCES THEM to acknowlded that OVER TWENTY MILLION Americans _STILL_ will have not health care after their lousy bill... and the vast majority of other Americans WILL SEE NO IMPROVEMENT in their health care, as the 650,000 customers who were JUST DENIED re-issuance of AETNA policies PROVES. (See our previous post.)
THIS IS PURE DEMAGOGUE DICTATORSHIP: STIFFING & CRUSHING the will of the majority, and using some millions of victimized (by current "health care DENIED" system) Americans to hold EVERYONE ELSE HOSTAGE.
And those "LIBERALS" and "DEMOCRATS" who REFUSE to face the facts that GODDAMN-SACHS is a RIGHT-WING company, with NO, NO, NO "liberal" or democratic tendencies whatever, that has now HIJACKED both the Obama White House AND the "Democratic" Congress, are going to be PARTY TO the BRANDING of the "Democrats" and "LIBERALS," as the DICTATORIAL, insatiably greedy, ruthless, predatory, financial parasites and predatory MEDIEVAL FEUDALISTS that the Golddamn-Sachs are.
