THE
LOOTING of AMERICA – THE CRIMINAL BANKSTER ARE SURE DOIN’ GOOD!
http://mexicanoccupation.blogspot.com/2011/11/obamas-his-bankster-looters-arent-they.html
*
http://mexicanoccupation.blogspot.com/2012/03/obamanomics-change-or-merely-bushs.html
“The
stimulus plan purports to address the deepest economic crisis since the Great
Depression without examining its underlying causes or the social interests that
underlie the crisis. This is no accident, since the fundamental premise of all
of the measures taken in response to the crisis, by Obama no less than Bush, is the defense of
the interests of the financial elite.”
*
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).
*
Obamanomics:
How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends,
Corporate Lobbyists, and Union Bosses
BY TIMOTHY P
CARNEY
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.
*
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
* 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.
*
Praise for Obamanomics
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
—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
—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
—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
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History
*
·
Hardcover: 256 pages
·
Publisher: Regnery Press (November 30,
2009)
·
Language: English
·
ISBN-10: 1596986123
·
ISBN-13: 978-1596986121
*
ARE AMAZED AT HOW UTTERLY BRAZEN THESE CORPORATE OWNED
POLITICIANS ARE?
GET THIS BOOK!
Culture of Corruption: Obama and His Team of Tax Cheats,
Crooks, and Cronies
by Michelle Malkin
Editorial Reviews
In her shocking new book, Malkin digs deep into the records
of President Obama's staff, revealing corrupt dealings, questionable pasts, and
abuses of power throughout his administration.
From the Inside Flap
The era of hope and change is dead....and it only took six
months in office to kill it.
Never has an administration taken office with more inflated
expectations of turning Washington around. Never have a media-anointed American
Idol and his entourage fallen so fast and hard. In her latest investigative
tour de force, New York Times bestselling author Michelle Malkin delivers a
powerful, damning, and comprehensive indictment of the culture of corruption
that surrounds Team Obama's brazen tax evaders, Wall Street cronies, petty
crooks, slum lords, and business-as-usual influence peddlers. In Culture of
Corruption, Malkin reveals:
* Why nepotism beneficiaries First Lady Michelle Obama and
Vice President Joe Biden are Team Obama's biggest liberal hypocrites--bashing
the corporate world and influence-peddling industries from which they and their
relatives have benefited mightily
* What secrets the ethics-deficient members of Obama's
cabinet--including Hillary Clinton--are trying to hide
* Why the Obama White House has more power-hungry,
unaccountable "czars" than any other administration
* How Team Obama's first one hundred days of appointments
became a litany of embarrassments as would-be appointee after would-be
appointee was exposed as a tax cheat or had to withdraw for other reasons
* How Obama's old ACORN and union cronies have squandered
millions of taxpayer dollars and dues money to enrich themselves and expand
their power
* How Obama's Wall Street money men and corporate lobbyists
are ruining the economy and helping their friends In Culture of Corruption,
Michelle Malkin lays bare the Obama administration's seamy underside that the
liberal media would rather keep hidden.
• Publisher:
Regnery Publishing (July 27, 2009)
• Language:
English
• ISBN-10:
1596981091
• ISBN-13:
978-1596981096
*
World Socialist Web Site
wsws.org
The looting of America
10 April 2009
The
New York Times on Thursday published a front-page article that provides
further insight into the economic and class interests that are being served by
the Obama administration’s economic “recovery” policies.
Headlined
“Small Investors May Be Enlisted in Bank Bailout,” the article outlines
discussions between the administration and Wall Street investment firms on
structuring the so-called “Public-Private Investment Program” announced last
month in a manner that will allow people of modest means to invest in the
scheme, whose purpose is to enable the banks to offload their toxic assets at
public expense.
When
the plan was announced March 23 by Treasury Secretary Timothy Geithner, it
sparked a wild rally on the stock market. The Dow Jones Industrial Average rose
497 points when it became clear that the government was offering to provide up
to 95 percent of the capital, insure almost all potential losses and virtually
guarantee large profits for hedge funds and other financial firms that agree to
purchase the bad debts of the banks at inflated prices, with the taxpayers
underwriting the windfall for Wall Street and assuming virtually all of the
risk.
Thursday’s
Times article indicates that opening the scheme up to small investors is
seen as a way of providing a “democratic” gloss to what is, in reality, a
brazen plan to plunder the public treasury for the benefit of the very bankers
and speculators who are responsible for the financial crash. Evidently not
seeing a contradiction, the article also makes clear that the bailout measures
are being drawn up in the closest consultation with the Wall Street insiders
who stand to profit from them.
“Some
of the biggest investment managers in the United States,” the Times notes,
“including BlackRock and PIMCO, have been consulting with the government on
ways to rebuild the country’s broken financial markets.”
The
article quotes Steven A. Baffico, an executive at BlackRock, as saying, “It’s
giving the guy on Main Street an equal seat at the table next to the big guys.”
This is true only in the sense that “Main Street” will be given the opportunity
to absorb the bulk of any losses while the “big guys” cream off the best assets
and pocket the profits.
There
are political concerns behind this effort to create the appearance of offering
the general public a cut in the winnings. Hedge fund managers are wary that
when, as they anticipate, their partnership with the Treasury, the Federal
Reserve and the Federal Deposit Insurance Corporation (FDIC) pays off with
double-digit profits there will be a public outcry, similar to that which
erupted over the AIG executive bonuses. This, they fear, might lead to limits
on their compensation, higher taxes on their fortunes or similar intolerable
infringements.
More
important are definite commercial calculations. By opening up the scheme to the
broad public, the private firms chosen by the Treasury to operate the plan
stand to increase greatly their take from investor fees. As the Times puts
it, “For the investment managers, the benefits are potentially large. These big
firms can charge healthy fees to investors for taking part.”
There
is one particularly remarkable passage in the Times account. “But the
comparison one industry official uses to illustrate the mistake that America
must avoid,” the newspaper writes, “is the large-scale privatization in Russia
in the 1990s, which involved a transfer of entire industries to a few,
well-connected oligarchs. That experience tarnished the idea of free-market
capitalism in Russia and undermined its program to move toward a market
economy.”
The
many differences in political and historical circumstances aside, there is a
very real parallel between the plundering of Soviet society by the former
Stalinist bureaucrats and their domestic gangster and foreign imperialist
allies and the current manner in which the economic crisis in the US is being
seized upon by Wall Street and its political instrument, the Obama
administration, to further enrich the American financial aristocracy. Indeed,
the perpetrators are themselves quite conscious that they are engaged in a
similar—although much bigger—looting operation.
The
scale and character of the operation are further indicated by another New
York Times article published this week. This one, authored by Times financial
writer Andrew Ross Sorkin and published on Tuesday, concerns the role of the
FDIC in the new bailout scheme.
The
article begins by noting that the FDIC was established 76 years ago, in the
depths of the Great Depression, to provide a government guarantee, initially up
to $5,000 and now up to $250,000, on the bank deposits of small savers. It
describes the transformation of the FDIC, under the toxic asset disposal plan
of the Obama administration, as follows:
“It’s
going to be insuring 85 percent of the debt, provided by the Treasury, that
private investors will use to subsidize their acquisition of toxic assets.”
In
other words, the function of the FDIC is being transformed from guaranteeing
the bank deposits of small savers to guaranteeing the investments of
multimillionaire investment fund managers. And, as the article notes, this is
occurring without a vote by Congress.
The
FDIC will be insuring more than $1 trillion in new obligations incurred as the
government covers the bad debts of the banks. However, the FDIC’s charter
limits the obligations it can take on to $30 billion. The Times article
quotes one “prominent securities lawyers” as saying, “They may not be breaking
the letter of the law, but they’re sure disregarding its spirit.”
What
is the significance of this astonishing reasoning? Simply this: The Obama
administration, in order to protect the wealth and power of the financial
elite, is facilitating and directly perpetrating on a colossal scale the same
type of accounting fraud and reckless leveraging that led to the economic
catastrophe in the first place.
Who
is to pay the price for this looting operation? The answer can be seen in the
Obama Auto Task Force’s demands for the liquidation of much of the US auto
industry and the brutal downsizing of what remains, combined with the
imposition of poverty-level wages on those workers who remain in the surviving
plants and the gutting of the pensions and health benefits of retirees. It can
be further seen in the administration’s pledge to slash social programs,
including Medicare, Medicaid and Social Security.
The
administration’s “recovery” plan is a barely disguised scheme to preserve the
fortunes of the financial aristocracy, whose interests it represents, by
imposing poverty and social misery on the working class.
Barry
Grey
*
CRIMINAL BANKSTERS & OBAMA DONORS GOLDMAN SACHS – NOT ONE OF
THEM HAS GONE TO PRISON – THANKS TO OBAMA’S CORRUPT DEPT. of JUSTICE
By Matt Taibbi
July 09, 2009 "Rolling Stone" -- July 02, 2009 --- The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled-dry American empire, reads like a Who's Who of Goldman Sachs graduates.
By now, most of us know the major players. As George Bush's last Treasury secretary, former Goldman CEO Henry Paulson was the architect of the bailout, a suspiciously self-serving plan to funnel trillions of Your Dollars to a handful of his old friends on Wall Street. Robert Rubin, Bill Clinton's former Treasury secretary, spent 26 years at Goldman before becoming chairman of Citigroup - which in turn got a $300 billion taxpayer bailout from Paulson. There's John Thain, the rear end in a top hat chief of Merrill Lynch who bought an $87,000 area rug for his office as his company was imploding; a former Goldman banker, Thain enjoyed a multibillion-dollar handout from Paulson, who used billions in taxpayer funds to help Bank of America rescue Thain's sorry company. And Robert Steel, the former Goldmanite head of Wachovia, scored himself and his fellow executives $225 million in golden parachute payments as his bank was self-destructing. There's Joshua
Bolten, Bush's chief of staff during the bailout, and Mark Patterson, the current Treasury chief of staff, who was a Goldman lobbyist just a year ago, and Ed Liddy, the former Goldman director whom Paulson put in charge of bailed-out insurance giant AIG, which forked over $13 billion to Goldman after Liddy came on board. The heads of the Canadian and Italian national banks are Goldman alums, as is the head of the World Bank, the head of the New York Stock Exchange, the last two heads of the Federal Reserve Bank of New York - which, incidentally, is now in charge of overseeing Goldman - not to mention ...
But then, any attempt to construct a narrative around all the former Goldmanites in influential positions quickly becomes an absurd and pointless exercise, like trying to make a list of everything. What you need to know is the big picture: If America is circling the drain, Goldman Sachs has found a way to be that drain - an extremely unfortunate loophole in the system of Western democratic capitalism, which never foresaw that in a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy.
The bank's unprecedented reach and power have enabled it to turn all of America into a giant pump-and-dump scam, manipulating whole economic sectors for years at a time, moving the dice game as this or that market collapses, and all the time gorging itself on the unseen costs that are breaking families everywhere - high gas prices, rising consumer-credit rates, half-eaten pension funds, mass layoffs, future taxes to pay off bailouts. All that money that you're losing, it's going somewhere, and in both a literal and a figurative sense, Goldman Sachs is where it's going: The bank is a huge, highly sophisticated engine for converting the useful, deployed wealth of society into the least useful, most wasteful and insoluble substance on Earth - pure profit for rich individuals.
more . . .
http://informationclearinghouse.info/article23009.htm
July 09, 2009 "Rolling Stone" -- July 02, 2009 --- The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled-dry American empire, reads like a Who's Who of Goldman Sachs graduates.
By now, most of us know the major players. As George Bush's last Treasury secretary, former Goldman CEO Henry Paulson was the architect of the bailout, a suspiciously self-serving plan to funnel trillions of Your Dollars to a handful of his old friends on Wall Street. Robert Rubin, Bill Clinton's former Treasury secretary, spent 26 years at Goldman before becoming chairman of Citigroup - which in turn got a $300 billion taxpayer bailout from Paulson. There's John Thain, the rear end in a top hat chief of Merrill Lynch who bought an $87,000 area rug for his office as his company was imploding; a former Goldman banker, Thain enjoyed a multibillion-dollar handout from Paulson, who used billions in taxpayer funds to help Bank of America rescue Thain's sorry company. And Robert Steel, the former Goldmanite head of Wachovia, scored himself and his fellow executives $225 million in golden parachute payments as his bank was self-destructing. There's Joshua
Bolten, Bush's chief of staff during the bailout, and Mark Patterson, the current Treasury chief of staff, who was a Goldman lobbyist just a year ago, and Ed Liddy, the former Goldman director whom Paulson put in charge of bailed-out insurance giant AIG, which forked over $13 billion to Goldman after Liddy came on board. The heads of the Canadian and Italian national banks are Goldman alums, as is the head of the World Bank, the head of the New York Stock Exchange, the last two heads of the Federal Reserve Bank of New York - which, incidentally, is now in charge of overseeing Goldman - not to mention ...
But then, any attempt to construct a narrative around all the former Goldmanites in influential positions quickly becomes an absurd and pointless exercise, like trying to make a list of everything. What you need to know is the big picture: If America is circling the drain, Goldman Sachs has found a way to be that drain - an extremely unfortunate loophole in the system of Western democratic capitalism, which never foresaw that in a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy.
The bank's unprecedented reach and power have enabled it to turn all of America into a giant pump-and-dump scam, manipulating whole economic sectors for years at a time, moving the dice game as this or that market collapses, and all the time gorging itself on the unseen costs that are breaking families everywhere - high gas prices, rising consumer-credit rates, half-eaten pension funds, mass layoffs, future taxes to pay off bailouts. All that money that you're losing, it's going somewhere, and in both a literal and a figurative sense, Goldman Sachs is where it's going: The bank is a huge, highly sophisticated engine for converting the useful, deployed wealth of society into the least useful, most wasteful and insoluble substance on Earth - pure profit for rich individuals.
more . . .
http://informationclearinghouse.info/article23009.htm
*
Meltdown 101: How does Goldman Sachs do it?
OBAMA’S BANKSTER WELFARE CHEATS – FUCKING OVER A NATION, AND
PUMPING SOME OF THE LOOT BACK INTO OBAMA!
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).
SFGATE.comMeltdown 101: How does Goldman Sachs do it?
Tuesday, July 14, 2009
(07-14) 14:02 PDT New York (AP) --
Another financial quarter, another period of blowout profits for
Goldman Sachs. With some of the other big banks still losing money, many may
wonder: How does Goldman do it?
Gutsy trading and talented employees have helped. But Wall
Street's largest remaining investment bank has also benefited from billions in
taxpayer-funded bailouts, as well as a sharp drop in the number of competitors.
Even as the recession drags on, the 140-year-old firm is having a
very, very good year. The latest evidence: Goldman on Tuesday reported
second-quarter profits of $2.7 billion, off a stunning $13.8 billion in
revenue. That's a 65 percent profit jump over the same quarter last year.
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