Saturday, January 16, 2010

President Obama A LIAR _and_ a FRAUD: SEALS AIG Files to HIDE Tim Geithner's CORRUPTION, handing BILLIONS of dollars to AIG at par value for AIG's atrocious "Derivative" losses...

President Obama scorns the American public and continues to RUN A CRIMINAL PROTECTION RACKET for his criminal & fraudulent  NY & Wall Street banking  "campaign donors" -  
 <   SEC Orders AIG Info Sealed Until November... 2018!

President Obama is NOW A DOCUMENTED FRAUD and LIAR:  ONE OF _THE_ SPECIFIC CAMPAIGN PLEDGES  from Obama's  2008 campaign  was that he would run a government of "openness," "transparency," and accountability, and   that he would allow the public to see and hear all  legislative negotiations involving public business. (Whether health care reform, financial oversight of securities markets, or new rounds of economic crisis bank "bailouts," etc.)
 But ever since President-elect Obama SELECTED RAHM EMANUEL, the day after his election win in November 2008, to be his White House Chief of Staff, Mr. Obama has DONE THE DIAMETRICAL OPPOSITE of most of his major campaign pledges. 

  Now, in SEALING insurance bailout recipient AIG's files,  and the e-mails between AIG and then NY Federal Reserve Bank Chairman Tim Giethner, Mr. Obama has given his notice to CONTINUE SECRECY & CORRUPTION as his administration's OFFICIAL POLICY,  this is now the ON-GOING COVER-UP PHASE,   just  as Mr. Obama in months past has REFUSED to give Americans an ACCOUNTING of where all our TRILLIONS of taxpayer extorted "BAILOUTS" dollars have gone even as those bailouts were handed out.
  Whether  the SEC may or may not be under the direct supervision  of the White House is immaterial: The Obama White House certainly HAS the AUTHORITY to demand that the AIG e-mails be released and made public, indeed, American taxpayers are now THE STOCKHOLDERS of AIG ever since the "bailouts" of that insurance giant.

   Instead, the Emanuel/Obama White House  is making a full court press to PROTECT  Tim Geithner,  who is effectively the administration's point man in corruption, for Geithner's HANDING BILLIONS upon TRILLIONS of dollars to New York and London bankers, and LEAVING AS LITTLE a paper trail to the wholesale systematic  theft as is bureaucratically possible. 

  The heart of  PRESIDENT OBAMA's COVER-UP, OBSTRUCTION OF JUSTICE, and WHITEWASH of  AIG  tens of billions of dollars of FRAUDULENT bailouts:
 Obama's Treasury Secretary, Tim Geithner, explains why he authorized DOLLAR-for-DOLLAR "bailouts" for AIG's  FRAUDULENT DERIVATIVES LOSSES, 
  < Geithner: Bailed Out AIG 'Absolutely' Right To Pay Banks Top Dollar >
    (above link includes video of Geithner's comments, in person)
        < SEC order helps maintain AIG bailout SECRECY >

"The Big Picture Blog" at explains exactly why Geithner was and is so INSISTENT on making AIG's losses whole, at par,  on dollar-for-dollar  payouts for failed, bankrupt, FRAUDULENT   "derivatives" security insurance contracts,  at taxpayer expense: AIG was merely PASSING those bailout billions of dollars  ON through TO   GOLDMAN SACHS and the other mega-bank member-owners of the Federal Reserve Bank system,  that Geithner was President of (the most powerful NY Fed Reserve Bank branch)  in 2008.
SEC Helped AIG Hide PassThru Bailouts to GS, others
The SEC, working hand in glove with AIG, agreed to KEEP BAILOUT TERMS SEALED,  including information on THE PASS THRU to COUNTER PARTIES such as GOLDMAN SACHS   at 100 cents on the dollar. This SEC granted “confidential treatment” was agreed to last May, and a “secrecy order” (WTF is that?) will stay in place until November 2018.
   President Obama, the SEC, the US Federal Reserve Bank, the US Treasury, and indeed the ENTIRE  US Government (and Congress) are now merely THE    EXTORTION ARM of  Goldman-Sachs and its surviving sibling mega-banks. 
The SOLE PURPOSE of the IRS now  is to keep GOLDMAN SACHS executives WALLOWING  in Bailout Trillions of  dollars, extorted from American taxpayers,  even as the Obama administration and Congress DEMOLISH America's industry & economy, by wholesale SHIPPING US JOBS - entire industries -  to Communist China and other overseas economic competitor nations.

  We'll leave the last word here to Mr.  Barry Ritholtz, except to point out that it is not "cluelessness" that drives Mr. Obama to RUN A PROTECTION RACKET for AIG and Goddamn Sachs, rather,  it is the INSANE, BLATANT CORRUPTION of Rahm Emanuel, Lawrence Summers, Tim Geithner, and the rest of Mr.  Obama's entire  "Of, by, and for Goddamn Sachs" Rubinite bankers cabal,  masquerading as a "Democratic" presidential administration:
 <   I continue to wonder if anyone in DC has the slightest clue WTF the they are doing. I was sick to death of the sheer willful anti-science, anti-logic ignorance of the Bush administration. I hoped that the new guys  [the Obama White House] will be less overt[ly]  hostile to the public, less secretive, more respectful that this is — or at least used to be — a Democracy.
The stupidity of the Bush administration has been replaced by a new flavor of ignorance — the cluelessness of the Obama team. We might as well have given W a 3rd term, given the outrageous and embarrassing decision making we have witnessed so far.
Change we can believe? More like “4 more years.” Color me nauseous.  >