"President Obama's CRIMINAL TREACHERY: He is RUNNING a PROTECTION RACKET for Goldman Sachs' CRIMINAL, massive FINANCIAL FRAUD"
and after MONTHS upon MONTHS of urgent, frantic, downright hysterical reporting from sources all over the web, including financial insiders who understand the process, the very Neo-Con NEW YORK TIMES _finally_ gets around to noticing the CRUX of America's economic nightmare: The "economists" that Mr. Obama has choosen to "lead" his administration's economic policy, are the very FINANCIAL SWINDLERS who have, with premeditation, DEFRAUDED millions of American households, out of TRILLIONS of dollars of investments, savings, home-values, and social-safety net programs.
Banks [GOLDDAMN-SACHS!] Bundled Bad Debt, Bet Against It and WonAnd, worse, Mr. Obama CONTINUES to run a criminal PROTECTION RACKET for Goldman Sachs and his administration officials, INCLUDING PREVENTING Freddie Mac from seating an INSPECTOR GENERAL, so Mr. Obama's White House Chief of Staff, RAHM EMANUEL, can outrun the STATUTE of LIMITATIONS on his, Emanuel's, participation in ACCOUNTING FRAUD at Freddie Mac, while Emanuel was on the Board of Directors of Freddie Mac in 2001 and 2002!
By Gretchen Morgenson & Louise Story
Published: December 23, 2009
<...Mortgage-related securities, [code] named Abacus... were... first intended to protect Goldman from investment losses if the housing market collapsed. As the market soured, Goldman created even more of these securities, enabling it to pocket huge profits.
Goldman’s own clients who bought them, however, were less fortunate.
Pension funds and insurance companies LOST BILLIONS of DOLLARS on securities ["securities"!] that they believed were solid investments....
Goldman was not the only firm that peddled these complex securities — known as synthetic collateralized debt obligations, or C.D.O.’s — AND THEN MADE FINANCIAL BETS AGAINST THEM, called selling short in Wall Street parlance. Others that created similar securities and then bet they would fail, according to Wall Street traders, include Deutsche Bank and Morgan Stanley, as well as smaller firms like Tricadia Inc., an investment company whose parent firm was overseen by Lewis A. Sachs, who this year became a special counselor to Treasury Secretary Timothy F. Geithner.
The result? - The Goldamn-Sachs led DESTRUCTION of FOURTEEN TRILLION DOLLARS of American wealth (chart, below)
After which, the Golddamn Sachs & Wall Street financial swindlers TERRORIZED Congress, and EXTORTED Congress and both "Democrat" and Republican White Houses (Bush-II & Obama) to OBLIGATE (extort) billions of dollars of "BAILOUTS," forcing TAXPAYERS to transfer wealth FROM their wallets... to the very same Wall Street firms, hedge-funds, and banksters who had CREATED the titanic, fraudulent loss of household wealth in the first place!
Effectively DOUBLING the financial LOSSES, FROM American households, IN TO Golddamn-Sachs fraudulent coffers!!
The above financial follies IN CONCERT with the massive, wholesale "OUTSOURCING" of American jobs to Communist China... with NO sane oversight, industrial reserve capacity, or restraint in sight...
...because the Wall Street traders - "led" and dominated by the GOLDDAMN-SACHS
(plus JPMorgan-Chase, Citi, NYbankMellon, BoA, and a few others)
amassed SHORT TERM PROFITS from every DISMANTLING of an American factory... or entire industry.
We now know that GOLDMAN SACHS PROFITED, at their clients, investors, and the American public's expense, by selling SECURITIES marked as "Grade-A", while Goddamn-Sachs traders not only knew that those "securities" WERE JUNK, but while those GS traders were ACTIVELY SHORTING (short-selling) and BETTING AGAINST THOSE SECURITIES, AS they sold them to unsuspecting customers, investors, and consumers!!!!
GOLDMAN SACHS was committing MASSIVE FRAUD on a TITANIC SCALE, yet out of ALL the companies in America that President Obama could have chosen his financial advisors from.... he has INFESTED his administration with NOTHING BUT Goldman Sachs cronies, allies, partners, (lobbyists!) and apologists.
To repeat, this is a TRIPLE-WHAMMY ASSAULT on American households:
#1. vast, PRE-MEDITATED FRAUD in financial "security" sales by Goddamn-Sachs & related funds
#2. the OUTSOURCING of entire US factories, ENTIRE US INDUSTRIES, to Communist China, with NO restraint or moderation in sight, because US government policy was being driven by insanely greedy traders (Golddamn Sachs executives) who PROFITED, short term, from the DISMANTLING of US industry;
#3. the above two calamaties having WRECKED the US economy, the Goddamn-Sachs led banksters, fund-operators, and financial fraudsters next TERRORIZED and EXTORTED Congress and both presidents, to DIRECTLY TRANSFER WEALTH, FROM taxpayers, in the form of "BAILOUTS," in to the very bank vaults and hedge funds who had precipitated the economic crisis in the first place, the FINANCIAL FRAUDSTERS who had LED the PREMEDITATED assault to DEFRAUD Americans out of their household wealth, were now demanding BILLIONS from victimized taxpayers & ivnestors, when their own fraudulent "securities" scams BLEW UP in THEIR FACES!
The proof of all the above - that Golddamn Sachs executives DOMINATE the Obama White House agenda - is simplicity itself, because, nearly twelve full monts into the Obama presidency,
the PRESIDENT of the UNITED STATES does NOT have an INDUSTRIAL POLICY!
(Ok, to be precise, Obama DOES have an "INDUSTRIAL POLICY" - it is DICK CHENEY's " industrial policy," MADE POSSIBLE ONLY by Cheney's alliance with the insanely treacherous and greedy Neo-Cons: #1. to MAINTAIN US DEPENDENCE on FOREIGN ENERGY; #2. to SELL US PORTS to Dubai Port World; and #3, to "OUTSOURCE" American multi-billion-dollar DEFENSE CONTRACTOR Halliburton Co... TO DUBAI, complete with all its top-secret plans for US military bases' security!, ALL to maximize SHORT TERM PROFITS for Mr. Cheney, for Halliburton, for GoddamnSachs, and for GS's other bankster & financial fraud allies.)
(Obama's gross NEGLECT of American INDUSTRIAL POLICY, and the behest of his Golddamn-Sachs "we love selling junk, it boosts our profits" "economics advisors," is like President George W. Bush, and his life-and-death, multi-billion dollar FEMA disaster relief agency director Michael, "Heckuva Job, Brownie" Brown, NOT HAVING an EMERGENCY RELIEF PLAN, in place, on hte ground, and well coordinated for disaster relief - should the MOST POWERFUL hurricane (lowest barometric pressure) EVER RECORDED in the Atlantic basin head directly for the vulnerable American Gulf Coast, and New Orleans in particular, a city ALREADY UNDER SEA LEVEL, and entirely dependent on the FEDERAL GOVERNMENT's Army Corps of Engineers levees, for that city's safety and security.)