OBAMA the RED CARPET ADDICTED REIGNING SOVEREIGN REIGNS FROM WALL ST. WHERE HIS PAYMASTERS LAY DOWN THE HIS LAWS

MEXICANOCCUPATION.blogspot.com

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OBAMA’S CRONY CAPITALISM, A LOVE STORY BETWEEN THE ACTOR PRESIDENT, AND HIS BANKSTER DONORS!

Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).

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FOUR CRIMINAL BANKSTERS, ALL IN BED WITH OBAMA, CONTINUE TO PILLAGE A NATION!

4 Wall Street Banks Still Dominate Derivatives Trade

By BEN PROTESS

A few select titans of Wall Street continue to dominate the banking industry’s role in derivatives trading, according to a report issued by the Office of the Comptroller of the Currency.

The nation’s four largest banks — JPMorgan Chase, Citigroup, Bank of America and Goldman Sachs — hold nearly 95 percent of the industry’s total exposure to derivatives contracts, the report found.

JPMorgan, topping all commercial banks, holds nearly $78 trillion of the industry’s $231 trillion in derivatives, according to the report by the comptroller, the federal agency that regulates national banks. Citi is next on the list, with more than $50 trillion in the insurancelike contracts.

The banks — which structure, buy and trade derivatives — have at least one good reason to wield such a heavy hand in derivatives: they drive profits.

Commercial banks in the United States reported trading revenue of $3.5 billion in the fourth quarter of 2010, an 80 percent leap over the comparable period a year earlier, according to the agency’s report. Bank trading revenue reached $22.5 billion for the entire year, nearly equaling the trading revenue records set in 2009.

Of course, derivatives can endanger the industry, too. The contracts, which can be used to hedge risk or speculate on market fluctuations, nearly brought the financial system to its knees in late 2008. The No. 1 offender: credit default swaps, which sent the insurance giant American International Group into a tailspin.

In the wake of the crisis, banks have shed some of their riskier derivatives. Banks’ credit exposure from derivatives dropped 15 percent to $375 billion in the fourth quarter, according to the report. The amount of derivatives held by all American banks also decreased slightly during the final three months of the year.

Common derivatives include futures contracts, options and swaps. Commercial banks primarily use interest rate swaps, which comprise 84 percent of the total value of derivatives.

Although more than a 1,000 banks use derivatives, 99 percent of activity occurs at the nation’s 25 biggest banks. That is because only a few banks have the resources needed to handle the complex contracts, according to the comptroller’s report.

But some lawmakers and regulators argue that Wall Street is exerting an outsize role in the industry. Many big banks act as derivatives dealers, which structure the contracts for customers to use. They also have financial stakes in some of the major derivatives clearinghouses and exchanges.

The Commodity Futures Trading Commission has proposed a rule that would prevent a bank or financial firm from controlling more than 20 percent of any one derivatives exchange or execution facility.

The Justice Department has called for even tougher curbs on efforts to monopolize the derivatives industry. As The New York Times reported in December, the Justice Department has been investigating possible anticompetitive practices in the industry.

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Well, Obama’s got Bush’s war profiteer whore, Dianne Feinstein, and the Saudis’ whore Hillary Clinton, why shouldn’t he have Bush’s architect for BIG BANKERS’ WELFARE, Timmy?

Obama's Wall Street cabinet

6 April 2009

A series of articles published over the weekend, based on financial disclosure reports released by the Obama administration last Friday concerning top White House officials, documents the extent to which the administration, in both its personnel and policies, is a political instrument of Wall Street.

Policies that are extraordinarily favorable to the financial elite that were put in place over the past month by the Obama administration have fed a surge in share values on Wall Street. These include the scheme to use hundreds of billions of dollars in public funds to pay hedge funds to buy up the banks’ toxic assets at inflated prices, the Auto Task Force’s rejection of the recovery plans of Chrysler and General Motors and its demand for even more brutal layoffs, wage cuts and attacks on workers’ health benefits and pensions, and the decision by the Financial Accounting Standards Board (FASB) to weaken “mark-to-market” accounting rules and permit banks to inflate the value of their toxic assets.

At the same time, Obama has campaigned against restrictions on bonuses paid to executives at insurance giant American International Group (AIG) and other bailed-out firms, and repeatedly assured Wall Street that he will slash social spending, including Medicare, Medicaid and Social Security.

The new financial disclosures reveal that top Obama advisors directly involved in setting these policies have received millions from Wall Street firms, including those that have received huge taxpayer bailouts.

The case of Lawrence Summers, director of the National Economic Council and Obama’s top economic adviser, highlights the politically incestuous character of relations between the Obama administration and the American financial elite.

Last year, Summers pocketed $5 million as a managing director of D.E. Shaw, one of the biggest hedge funds in the world, and another $2.7 million for speeches delivered to Wall Street firms that have received government bailout money. This includes $45,000 from Citigroup and $67,500 each from JPMorgan Chase and the now-liquidated Lehman Brothers.

For a speech to Goldman Sachs executives, Summers walked away with $135,000. This is substantially more than double the earnings for an entire year of high-seniority auto workers, who have been pilloried by the Obama administration and the media for their supposedly exorbitant and “unsustainable” wages.

Alluding diplomatically to the flagrant conflict of interest revealed by these disclosures, the New York Times noted on Saturday: “Mr. Summers, the director of the National Economic Council, wields important influence over Mr. Obama’s policy decisions for the troubled financial industry, including firms from which he recently received payments.”

Summers was a leading advocate of banking deregulation. As treasury secretary in the second Clinton administration, he oversaw the lifting of basic financial regulations dating from the 1930s. The Times article notes that among his current responsibilities is deciding “whether—and how—to tighten regulation of hedge funds.”

Summers is not an exception. He is rather typical of the Wall Street insiders who comprise a cabinet and White House team that is filled with multi-millionaires, presided over by a president who parlayed his own political career into a multi-million-dollar fortune.

Michael Froman, deputy national security adviser for international economic affairs, worked for Citigroup and received more than $7.4 million from the bank from January of 2008 until he entered the Obama administration this year. This included a $2.25 million year-end bonus handed him this past January, within weeks of his joining the Obama administration.

Citigroup has thus far been the beneficiary of $45 billion in cash and over $300 billion in government guarantees of its bad debts.

David Axelrod, the Obama campaign’s top strategist and now senior adviser to the president, was paid $1.55 million last year from two consulting firms he controls. He has agreed to buyouts that will garner him another $3 million over the next five years. His disclosure claims personal assets of between $7 and $10 million.

Obama’s deputy national security adviser, Thomas E. Donilon, was paid $3.9 million by a Washington law firm whose major clients include Citigroup, Goldman Sachs and the private equity firm Apollo Management.

Louis Caldera, director of the White House Military Office, made $227,155 last year from IndyMac Bancorp, the California bank that heavily promoted subprime mortgages. It collapsed last summer and was placed under federal receivership.

The presence of multi-millionaire Wall Street insiders extends to second- and third-tier positions in the Obama administration as well. David Stevens, who has been tapped by Obama to head the Federal Housing Administration, is the president and chief operating officer of Long and Foster Cos., a real estate brokerage firm. From 1999 to 2005, Stevens served as a top executive for Freddie Mac, the federally-backed mortgage lending giant that was bailed out and seized by federal regulators in September.

Neal Wolin, Obama’s selection for deputy counsel to the president for economic policy, is a top executive at the insurance giant Hartford Financial Services, where his salary was $4.5 million.

Obama’s Auto Task Force has as its top advisers two investment bankers with a long resume in corporate downsizing and asset-stripping.

It is not new for leading figures from finance to be named to high posts in a US administration. However, there has traditionally been an effort to demonstrate a degree of independence from Wall Street in the selection of cabinet officials and high-ranking presidential aides, often through the appointment of figures from academia or the public sector. In previous decades, moreover, representatives of the corporate elite were more likely to come from industry than from finance.

In the Obama administration such considerations have largely been abandoned.

This will not come as a surprise to those who critically followed Obama’s election campaign. While he postured before the electorate as a critic of the war in Iraq and a quasi-populist force for “change,” he was from the first heavily dependent on the financial and political backing of powerful financiers in Chicago. Banks, hedge funds and other financial firms lavishly backed his presidential bid, giving him considerably more than they gave to his Republican opponent, Senator John McCain.

Alongside Wall Street, the Obama cabinet is dominated by the military, including three recently retired four-star military officers: former Marine General James Jones as national security adviser; Admiral Dennis Blair as director of national intelligence, and former Army Chief of Staff Erik Shinseki as secretary of veterans’ affairs.

These are the deeply reactionary political and class interests that are represented by the Obama administration.

Friday’s financial disclosures further expose the bankruptcy of American democracy. Elections have no real effect on government policy, which is determined by the interests of the financial aristocracy that dominates both political parties. The working class can fight for its own interests—for jobs, decent living standards, health care, education, housing and an end to war—only through a break with the two parties of American capitalism and the development of a mass, independent socialist movement.

Tom Eley and Barry Grey

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Obama’s Economic Advisers: International Socialists, Union Thugs, NBC Execs, Soros Scholars, Subprime Lenders, Amnesty Shills, and Campaign Cronies

Posted on February 24, 2011 by Ben Johnson
http://floydreports.com/obama%E2%80%99s-economic-advisers-international-socialists-union-thugs-nbc-execs-soros-scholars-subprime-lenders-amnesty-shills-and-campaign-cronies/

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Obama’s Economic Advisers: International Socialists, Union Thugs, NBC Execs, Soros Scholars, Subprime Lenders, Amnesty Shills, and Campaign Cronies

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MEXICANOCCUPATION.blogspot.com

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Go to http://www.MEXICANOCCUPATION.blogspot.com

WHY OBAMA HIRED J.P. MORGAN’S  WILLIAM DAILY…. OPEN BORDERS!

OBAMA HAS INFESTED HIS ADMINISTRATION WITH LA RAZA PARTY MEMBERS TO PUSH FOR AMNESTY, “CHEAP” MEX LABOR IN OUR JOBS TO KEEP HIS CORPORATE PAYMASTERS HAPPY AND GENEROUS, AND HAS TURNED OUR NATION’S SECURITY INTO Dept. Homeland Security = PATHWAY TO CITIZENSHIP!

ANYTHING TO KEEP THE HORDES OF ILLEGALS CLIMBING OUR BORDERS!

WILLIAM DAILY IS CLOSELY IDENTIFIED WITH BIG OBAMA DONOR, BANKSTER CRIMINALS J.P. MORGAN!

WHEN OBAMA GETS OUT OF BED, HE MARCHES FOR HIS BANKSTERS AND LA RAZA!

FROM CREOLE FOLKS

Obama Seeks Brother of "Chicago Mob Boss" for Top White House Post

The roaches and con-artist, fake journalist on cable news are all lying about William Daley being all this and all that, this man is an open borders, down with America, free trade globalist.  MSNBC and Gretta "the Scientology" Van Susteren from Fox News are knowingly deceiving the public about D. Issa & his letter to "business owners"=which they made into such a BIG DAM DEAL, but no one says anything when Barrack Hussein Obama, comes around with all of these shady bankers, hedge fund managers and Wall St. Tycoons, which he puts in his cabinet.  All of Obama's meeting with Wall Street asking, "What can I do for you?" is never something covered by Keith Oberman or Rachel Maddow. 

(Bloomberg) -- President Barack Obama is considering naming William Daley, a JPMorgan Chase & Co. executive and former U.S. Commerce secretary, to a high-level administration post, possibly White House chief of staff, people familiar with the matter said.
Such a move, which is still under discussion, would bring a Washington veteran -- and someone with strong business ties -- into the administration as Obama sets out an agenda for the second half of his term while dealing with a Republican majority in the House of Representatives.

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Obama Quietly Erasing Borders (Article)

Article Link: http://www.wnd.com/index.php?fa=PAGE.view&pageId=240045

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Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses

BY TIMOTHY P CARNEY

Editorial Reviews

Obama Is Making You Poorer—But Who’s Getting Rich?

Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers. In Obamanomics, investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s Obamanomics.

Congressman Ron Paul says, “Every libertarian and free-market conservative needs to read Obamanomics.” And Johan Goldberg, columnist and bestselling author says, “Obamanomics is conservative muckraking at its best and an indispensable field guide to the Obama years.”

If you’ve wondered what’s happening to America, as the federal government swallows up the financial sector, the auto industry, and healthcare, and enacts deficit exploding “stimulus packages,” this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils down to this: every time government gets bigger, somebody’s getting rich, and those somebodies are friends of Barack. This book names the names—and it will make your blood boil.

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Obama Is Making You Poorer—But Who’s Getting Rich?

Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers.

Investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s Obamanomics. In this explosive book, Carney reveals:

* The Great Health Care Scam—Obama’s backroom deals with drug companies spell corporate profits and more government control
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)
* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics

If you’ve wondered what’s happening to our country, as the federal government swallows up the financial sector, the auto industry, and healthcare, and enacts deficit exploding “stimulus packages” that create make-work government jobs, this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils down to this: every time government gets bigger, somebody’s getting rich, and those somebodies are friends of Barack. This book names the names—and it will make your blood boil.

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Praise for Obamanomics

“The notion that ‘big business’ is on the side of the free market is one of progressivism’s most valuable myths. It allows them to demonize corporations by day and get in bed with them by night. Obamanomics is conservative muckraking at its best. It reveals how President Obama is exploiting the big business mythology to undermine the free market and stick it to entrepreneurs, taxpayers, and consumers. It’s an indispensable field guide to the Obama years.”
—Jonha Goldberg, LA Times columnist and best-selling author

“‘Every time government gets bigger, somebody’s getting rich.’ With this astute observation, Tim Carney begins his task of laying bare the Obama administration’s corporatist governing strategy, hidden behind the president’s populist veneer. This meticulously researched book is a must-read for anyone who wants to understand how Washington really works.”
—David Freddoso, best-selling author of The Case Against Barack Obama

“Every libertarian and free-market conservative who still believes that large corporations are trusted allies in the battle for economic liberty needs to read this book, as does every well-meaning liberal who believes that expansions of the welfare-regulatory state are done to benefit the common people.”
—Congressman Ron Paul

“It’s understandable for critics to condemn President Obama for his ‘socialism.’ But as Tim Carney shows, the real situation is at once more subtle and more sinister. Obamanomics favors big business while disproportionately punishing everyone else. So-called progressives are too clueless to notice, as usual, which is why we have Tim Carney and this book.”
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History

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·         Hardcover: 256 pages

·         Publisher: Regnery Press (November 30, 2009)

·         Language: English

·         ISBN-10: 1596986123

·         ISBN-13: 978-1596986121

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WHAT DID THE BANKSTERS KNOW ABOUT OUR ACTOR OBAMA THAT WE DIDN’T KNOW?

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Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).

BARACK OBAMA HAS COLLECTED NEARLY TWICE AS MUCH MONEY AS JOHN McCAIN

BY DAVID SALTONSTALL

DAILY NEWS SENIOR CORRESPONDENT

July 1st 2008

Wall Street firms have chipped in more than $9 million to Barack Obama. Zurga/Bloomberg

Wall Street is investing heavily in Barack Obama.

Although the Democratic presidential hopeful has vowed to raise capital gains and corporate taxes, financial industry bigs have contributed almost twice as much to Obama as to GOP rival John McCain, a Daily News analysis of campaign records shows.

"Wall Street wants change and wants a curtailment in spending. It wants someone who focuses on the domestic economy," said Jim Cramer, the boisterous host of CNBC's "Mad Money."

Cramer also does not discount nostalgia for the go-go 1990s, when Bill Clinton led the largest economic expansion in history.

"It wants a Clinton like in 1992, but not a Hillary Clinton," he said. "That's Barack Obama."

For both candidates, Wall Street's investment and banking sectors have become among their portliest cash cows, contributing $9.5 million to Obama and $5.3 million to McCain so far.

It's a haul that is already raising concerns that, as the nation's faltering economy has become issue No. 1, the two candidates may have a hard time playing tough on issues like market regulation or corporate-tax loopholes.

"No matter who wins in November, Wall Street will have a friend in the White House," said Massie Ritsch of the Center for Responsive Politics, which crunched the data for The News.

Wall Street's generosity toward Obama, in particular, would seem to run counter to its self-interests.

In addition to calling for corporate and capital gains tax hikes, Obama has proposed raising income taxes on those earning more than $250,000.

But Wall Street is often motivated by something more than money - winning.

"In general, these are professional prognosticators," said Ritsch. "And they may be putting their money on the person they predict will win, not the candidate they hope will win."

Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).

McCain's top five include Wall Street's Merrill Lynch ($230,310) and Citigroup ($219,551).

Obama's Wall Street haul is not the biggest ever. That distinction belongs to President Bush, who as an incumbent in 2004 raised $10,852,696 from Wall Street interests through April that year - about $1 million more than Obama.

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Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.