Thursday, December 24, 2009

New York Times FINALLY does their job - reports on topic of our previous post, the GOLDDAMN-SACHS vast PREMEDITATED FINANCIAL FRAUD that destroyed entire swaths of US markets...

Our previous  headline read
 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 Won
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.
     And, 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!,0,5682373.story    

  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,
  (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.)