BARACK OBAMA, LA RAZA FASCISM and the
CULTURE of DEM CORRUPTION
They Destroyed Our
Country ... OBAMA AND HIS HAREMS OF CORRUPTION
“They
knew Obama was an unqualified crook; yet they promoted him. They knew Obama was
a train wreck waiting to happen; yet they made him president, to the great
injury of America and the world. They understood he was only a figurehead, an
egomaniac, and a liar; yet they made him king, doing great harm to our republic
(perhaps irreparable.)”
more at this link – post on your Facebook and email broadcast
EXCLUSIVE: Senator’s husband’s firm cashes in on crisis ON FORECLOSURE CRISIS CAUSED BY FEINSTEIN'S BANKSTER DONORS WELLS FARGO and BANK of AMERICA
The Washington Times
On the day the new Congress convened this year, Sen. Dianne
Feinstein introduced legislation to route $25 billion in taxpayer money to a
government agency that had just awarded her husband's real estate firm a
lucrative contract to sell foreclosed properties at compensation rates higher
than the industry norms.
Mrs. Feinstein's intervention on behalf of the Federal
Deposit Insurance Corp. was unusual: the California Democrat isn't a member of
the Senate Committee on Banking, Housing and Urban Affairs with jurisdiction
over FDIC; and the agency is supposed to operate from money it raises from
bank-paid insurance payments - not direct federal dollars.
Documents reviewed by The Washington Times show Mrs.
Feinstein first offered Oct. 30 to help the FDIC secure money for its effort to
stem the rise of home foreclosures. Her letter was sent just days before the
agency determined that CB Richard Ellis Group (CBRE) - the commercial real
estate firm that her husband Richard Blum heads as board chairman - had won the
competitive bidding for a contract to sell foreclosed properties that FDIC had
inherited from failed banks.
DURING THE
BANKSTER-OWNED
PRESIDENT’S FIRST TERM ALONE,
BANKSTER PROFITS SOARED AS DID
BANK CRIMES and FORECLOSURES.
THE WRECKING OF AMERICA: BARACK OBAMA and his LOOTING WALL
STREET DONORS PILLAGE A NATION BUSH STYLE!
http://mexicanoccupation.blogspot.com/2013/09/the-wrecking-of-america-barack-obama.html
WARS FOR MUSLIMS, OPEN BORDERS WITH NARCOMEX AND UNLEASHED RAPE BY WALL STREET DONORS!
the figures are in on Obama’s looting of America for Wall Street!
STAGGERING POVERTY IN AMERICA CAUSED BY OBAMA, HIS CRONIES AND WALL STREET DONORS…AND THEN ILLEGALS GET THE JOBS!
http://mexicanoccupation.blogspot.com/2013/09/obamanomics-and-obamas-crony-capitalism.html
According to a new report by University of California Berkeley Professor Emmanuel Saez, the gulf between the wealthy and the rest of society has sharply expanded under Obama. The richest one percent now monopolize more than 22 percent of all household income in America. The richest ten percent of the population now control more than half of the nation’s income, 50.4 percent—the highest proportion since the government began collecting income statistics in 1917.
Since
2009, the richest one percent has captured a staggering 95 percent of all
income gains. The class war policies of the government—including bank bailouts,
“quantitative easing” and an attack on wage and benefits for the working
class—have led to a 31.4 percent rise in income for the top one percent. The
wealthy have more than recovered the losses that came from the Wall Street
collapse of 2008.
Meanwhile,
the bottom 99 percent has seen a negligible 0.4 percent rise in income. Tens of
millions of workers—who never recovered from the record household income drop
of 2007 to 2009—continue to reel from the effects of mass job losses, falling
wages, home foreclosures, indebtedness and social service cuts.
Banking Is a Criminal Industry Because Its Crimes Go Unpunished
Posted: 07/16/2012 8:23 am
Consider
just this month's news in financial services.
First,
Barclay's has been manipulating the Libor, the main interest rate upon which
most other interest rates and financial transactions are based, since 2005.
Moreover, Barclay's traders were colluding with traders in many other banks to
assist them in manipulating the Libor too, so that they could all profit from
their bets on it.
Second, JP
Morgan Chase is having a really great month. Recent reports describe how it is resisting Federal subpoenas related to
price-fixing in U.S. electricity markets. It is also accused (by former employees
among others) of deliberately inflating the performance of its investment funds
to obtain business. And finally, JP Morgan's failed "London whale" trade, which has now cost over
$5 billion, is being investigated to determine whether the loss was initially
concealed from regulators and the public.
Third, HSBC
is paying a fine because it allowed hundreds
of millions, perhaps billions, of dollars of money laundering by rogue states
and sanctioned firms, including some related to terrorist activities and Iran's
nuclear efforts. But HSBC is only one of at least 12 banks now known to have
tolerated, and in some cases aggressively courted, money laundering by rogue
states, terrorist organizations, corrupt dictators, and major drug cartels over
the last decade. Others include Barclay's, Lloyds, Credit Suisse, and Wachovia
(now part of Wells Fargo). Several of the banks created special handbooks on
how to evade surveillance, created special business units to handle money
laundering, and actively suppressed whistleblowers who warned of drug cartel
activities.
Fourth, a
new private lawsuit cites documents indicating that Morgan Stanley
successfully pressured rating agencies into inflating the ratings of
mortgage-backed securities it issued during the housing bubble.
Fifth, Visa
and Mastercard have just agreed to pay $7 billion to settle a private
antitrust case filed by thousands of merchants, who alleged that Visa and
Mastercard colluded to fix fees and terms of service.
Just another
month in financial services. Is it unusual? No, it's not. If we go back just a
little further, we have UBS, HSBC, Julius Baer, and other banks actively
marketing tax evasion services to wealthy U.S. and European citizens. We have
senior executives of several banks (including JP Morgan Chase and UBS) strongly
suspecting that Bernard Madoff was running a Ponzi scheme, but deciding to make
money from him rather than turn him in. And then, of course, we have the
financial crisis and everything that led to it. As I show in great detail in my book Predator Nation, we now possess overwhelming evidence of massive securities fraud,
accounting fraud, perjury, and criminal Sarbanes-Oxley violations by mortgage
lenders, investment banks, and credit insurers (including senior executives of
Countrywide, Citigroup, Morgan Stanley, Goldman Sachs, Bear Stearns, AIG, and
Lehman Brothers) during the housing bubble that caused the financial crisis. If
we go back to the late 1990s, we have the massively fraudulent hyping of
Internet stocks, and several banks (including Merrill Lynch and Citigroup)
actively aiding Enron in committing its frauds.
So, July
2012 really isn't abnormal at all. The reason for this is very simple. Over the
past two decades, the financial services industry has become a pervasively
unethical and highly criminal industry, with massive fraud tolerated or even
encouraged by senior management. But how did that happen?
Well,
deregulation helped, of course. But something else was far more important. It
is the one critical factor that unites all of the episodes cited above,
including those of this month. This critical unifying factor is the total
number of criminal prosecutions of major firms and senior executives as a
result of all of these crimes combined.
And what is
that number?
Zero.
Literally
zero. A number that neither President Obama nor Mitt Romney shows the slightest
interest in changing.
Consider the
Obama administration's choices for the four most important positions in
financial sector law enforcement. The attorney general (Eric Holder) and the
head of the Justice Department's criminal division (Lanny Breuer) both come to
us from Covington
& Burling, a law
firm that represents and lobbies for most of the major banks and their industry
associations; indeed Breuer was co-head of its white collar criminal defense
practice, and represented the Moody's rating agency in the Enron case. Mary
Schapiro, the head of the SEC, spent the housing bubble in charge of FINRA, the
investment banking industry's "self-regulator," which gave her a $9 million
severance for a job
well done. And her head of enforcement, perhaps most stunningly of all, is
Robert Khuzami, who was
general counsel for
Deutsche Bank's North American business during the entire bubble. So zero
prosecutions isn't much of a surprise, really.
In contrast,
what do you think would happen to you if, as a lone individual, you were caught
supporting Iran's nuclear program? Do you think that you would get off with a
"deferred prosecution agreement" and a fine equal to a few percent of
your annual salary? No?
But that's
because you don't live right. You probably haven't been to the White House a
dozen times since President Obama took office, or attended White House state
dinners, like Lloyd Blankfein has. Nor have you probably overseen millions of
dollars in lobbying and campaign donations, or hired senior administration officials,
or sent your executives into the government in senior regulatory positions, or
paid $135,000 for a speech by someone who later became chairman of the National
Economic Council. And, well, you get the law enforcement that you pay for.
Charles
Ferguson is the author of Predator
Nation: Corporate Criminals, Political Corruption, and the Hijacking of America
On fifth anniversary of Wall Street crash, Obama tries the Big Lie technique
Even as he spoke, the stock market was soaring to new highs on the news that Obama’s expected choice to succeed Ben Bernanke as chairman of the Federal Reserve, Lawrence Summers, had removed himself from consideration because of opposition from Wall Street.
Forbes magazine reported that the wealth of the 400 richest Americans had climbed to $2 trillion, a jump from $1.7 trillion in 2012.
With corporate profits at record highs, CEO pay once again hitting the tens and hundreds of millions, and the concentration of wealth the greatest since 1928, Obama boasted of the great success of his economic policies in restoring “security and opportunity for the middle class.”
With breathtaking cynicism—and contempt for the intelligence of the American people—Obama presented himself as single-mindedly focused on “my number one priority since the day I took office”: fighting for the so-called “middle class.” (There is, according to the mythology of the American ruling class, no working class in the United States, even though America is the most economically unequal of all industrialized countries).
Employing the technique of the Big Lie, Obama described his response to the financial crisis as follows: “We put people back to work repairing roads and bridges, to keep teachers in our classrooms, our first responders on the streets. We helped responsible homeowners modify their mortgages so that more of them could keep their homes. We helped jumpstart the flow of credit to help more small businesses keep their doors open. We saved the American auto industry… we took on a broken health care system … We put in place tough new rules on big banks … And what all this means is we’ve cleared away the rubble from the financial crisis and we’ve begun to lay a new foundation for economic growth and prosperity.”
No. The Obama administration categorically rejected any program of public works to hire the unemployed and refused to aid bankrupt state and local governments, resulting in the layoff of hundreds of thousands of teachers, firefighters and other public employees. As a result, mass unemployment is a permanent fixture, and the labor force participation rate is the lowest in 35 years. Moreover, the vast majority of new jobs created under Obama—still 2 million below the total before the crisis—are low-wage and part-time.
The administration refused to halt home foreclosures or force banks to reduce loan principals, allowing the banks to throw millions of families out onto the street.
While continuing and vastly expanding the bank bailout begun under Bush, Obama refused to impose any conditions on the money stolen from taxpayers, allowing the bankers to use government funds to speculate rather than provide loans to small businesses. The result was a wave of small business failures that continues to the present.
Obama forced General Motors and Chrysler into bankruptcy in order to impose plant closures, tens of thousands of layoffs, cuts in workers’ benefits, and a 50 percent pay cut for new-hires. The wage-cutting in the auto industry was the signal for an assault on wages and benefits in every sector of the economy, public as well as private.
Obama passed a health care overhaul devoted to cutting costs for corporations and the government by rationing health services, drugs, medical tests and procedures on a class basis. Millions of workers will see their coverage slashed while the health care giants and insurance companies enjoy windfall profits.
The Dodd-Frank financial “reform” bill passed in 2010 is a joke. A compendium of half measures meant to provide a fig leaf of reform while leaving the existing financial system intact, it largely remains a dead letter. Provisions such as the “Volcker Rule,” which would restrict—but not end—the legal ability of banks to speculate on their own accounts with depositors’ money, have not been enacted because of opposition from Wall Street.
Not a single leading bank executive has been criminally prosecuted, let alone jailed, for rampant fraud and criminality both before and after the 2008 crash. Over the past five years, bank scandals have proliferated—Libor-rigging, foreclosure fraud, concealing speculative losses, drug money laundering—with no serious consequences for the criminals. Not only have the biggest banks not been broken up, they have been allowed to grow even bigger and strengthen their grip on all aspects of economic and political life.
As for the “new foundation for growth and prosperity,” the offloading of the bad debts of the banks to the government and the massive money printing by the Federal Reserve to subsidize Wall Street have created the conditions for a financial crash of even greater proportions than the debacle of 2008.
The bankrupting of governments has, meanwhile, been used, in the US and around the world, to justify the launching of an historic assault on social programs and the jobs and living standards of the working class. Obama has spearheaded a social counterrevolution, utilizing the economic crisis to turn the wheel of history back to levels of exploitation and poverty last seen 100 years ago.
The centerpiece of this assault in the US is the bankruptcy of Detroit, backed by the White House, which is being used to destroy the pensions and health benefits of city workers, privatize and slash city services, and sell off public assets, from the water department to the Detroit Institute of Arts. Detroit will set a precedent for cities across the country and internationally.
In his speech, Obama made passing reference to the further growth of social inequality during his tenure, noting that “the top one percent of Americans took home twenty percent of the nation’s income last year, while the average worker isn’t seeing a raise at all.” Typically, however, he spoke as though he was an innocent bystander and the further enrichment of the financial aristocracy had nothing to do with himself or his own policies.
In reality, the single-minded focus of Obama’s domestic agenda from day one has been to enable the ruling class to recover its losses from the crash and exploit the crisis to amass even greater wealth. Even as he sought in his speech to blame congressional Republicans for obstructing his supposed campaign in behalf of the middle class, Obama signaled that he intended to intensify his attack on social programs for workers and grant new windfalls to big business.
Boasting that deficits were falling at the fastest rate since the end of World War II, he said, “there’s not a government agency or program out there that still can’t be streamlined … So I do believe we should cut out programs that we don’t need.”
He reiterated his support for “reforms” to Medicare and Social Security, including raising the retirement age for Medicare, introducing a form of means testing, and cutting cost-of-living raises for Social Security beneficiaries. At the same time, he repeated his support for a massive cut in corporate taxes.
Obama’s speech will not fool the vast majority of workers, whose anger is increasingly focusing on the White House and the former candidate of “hope” and “change.” This opposition must be mobilized on the basis of a clear, independent, socialist political program, which starts from the need to build a political movement in opposition to the entire political establishment and the capitalist system it defends.
Barry Grey
On fifth anniversary of Wall Street crash, Obama tries the Big Lie technique
17 September 2013
On Monday, US President Barack Obama marked the fifth anniversary of the Wall Street crash of September 15, 2008 with a White House speech that only underscored the unbridgeable chasm that separates the entire political establishment from the broad mass of working people.
http://mexicanoccupation.blogspot.com/2013/09/crony-capitalism-obama-celebrates-5.html
Forbes magazine reported that the wealth of the 400 richest Americans had climbed to $2 trillion, a jump from $1.7 trillion in 2012.
On fifth anniversary of Wall Street crash, Obama tries the Big Lie technique
17 September 2013
On Monday, US President Barack Obama marked the fifth anniversary of the Wall Street crash of September 15, 2008 with a White House speech that only underscored the unbridgeable chasm that separates the entire political establishment from the broad mass of working people.Even as he spoke, the stock market was soaring to new highs on the news that Obama’s expected choice to succeed Ben Bernanke as chairman of the Federal Reserve, Lawrence Summers, had removed himself from consideration because of opposition from Wall Street.
Forbes magazine reported that the wealth of the 400 richest Americans had climbed to $2 trillion, a jump from $1.7 trillion in 2012.
With corporate profits at record highs, CEO pay once again hitting the tens and hundreds of millions, and the concentration of wealth the greatest since 1928, Obama boasted of the great success of his economic policies in restoring “security and opportunity for the middle class.”
With breathtaking cynicism—and contempt for the intelligence of the American people—Obama presented himself as single-mindedly focused on “my number one priority since the day I took office”: fighting for the so-called “middle class.” (There is, according to the mythology of the American ruling class, no working class in the United States, even though America is the most economically unequal of all industrialized countries).
Employing the technique of the Big Lie, Obama described his response to the financial crisis as follows: “We put people back to work repairing roads and bridges, to keep teachers in our classrooms, our first responders on the streets. We helped responsible homeowners modify their mortgages so that more of them could keep their homes. We helped jumpstart the flow of credit to help more small businesses keep their doors open. We saved the American auto industry… we took on a broken health care system … We put in place tough new rules on big banks … And what all this means is we’ve cleared away the rubble from the financial crisis and we’ve begun to lay a new foundation for economic growth and prosperity.”
No. The Obama administration categorically rejected any program of public works to hire the unemployed and refused to aid bankrupt state and local governments, resulting in the layoff of hundreds of thousands of teachers, firefighters and other public employees. As a result, mass unemployment is a permanent fixture, and the labor force participation rate is the lowest in 35 years. Moreover, the vast majority of new jobs created under Obama—still 2 million below the total before the crisis—are low-wage and part-time.
The administration refused to halt home foreclosures or force banks to reduce loan principals, allowing the banks to throw millions of families out onto the street.
While continuing and vastly expanding the bank bailout begun under Bush, Obama refused to impose any conditions on the money stolen from taxpayers, allowing the bankers to use government funds to speculate rather than provide loans to small businesses. The result was a wave of small business failures that continues to the present.
Obama forced General Motors and Chrysler into bankruptcy in order to impose plant closures, tens of thousands of layoffs, cuts in workers’ benefits, and a 50 percent pay cut for new-hires. The wage-cutting in the auto industry was the signal for an assault on wages and benefits in every sector of the economy, public as well as private.
Obama passed a health care overhaul devoted to cutting costs for corporations and the government by rationing health services, drugs, medical tests and procedures on a class basis. Millions of workers will see their coverage slashed while the health care giants and insurance companies enjoy windfall profits.
The Dodd-Frank financial “reform” bill passed in 2010 is a joke. A compendium of half measures meant to provide a fig leaf of reform while leaving the existing financial system intact, it largely remains a dead letter. Provisions such as the “Volcker Rule,” which would restrict—but not end—the legal ability of banks to speculate on their own accounts with depositors’ money, have not been enacted because of opposition from Wall Street.
Not a single leading bank executive has been criminally prosecuted, let alone jailed, for rampant fraud and criminality both before and after the 2008 crash. Over the past five years, bank scandals have proliferated—Libor-rigging, foreclosure fraud, concealing speculative losses, drug money laundering—with no serious consequences for the criminals. Not only have the biggest banks not been broken up, they have been allowed to grow even bigger and strengthen their grip on all aspects of economic and political life.
As for the “new foundation for growth and prosperity,” the offloading of the bad debts of the banks to the government and the massive money printing by the Federal Reserve to subsidize Wall Street have created the conditions for a financial crash of even greater proportions than the debacle of 2008.
The bankrupting of governments has, meanwhile, been used, in the US and around the world, to justify the launching of an historic assault on social programs and the jobs and living standards of the working class. Obama has spearheaded a social counterrevolution, utilizing the economic crisis to turn the wheel of history back to levels of exploitation and poverty last seen 100 years ago.
The centerpiece of this assault in the US is the bankruptcy of Detroit, backed by the White House, which is being used to destroy the pensions and health benefits of city workers, privatize and slash city services, and sell off public assets, from the water department to the Detroit Institute of Arts. Detroit will set a precedent for cities across the country and internationally.
In his speech, Obama made passing reference to the further growth of social inequality during his tenure, noting that “the top one percent of Americans took home twenty percent of the nation’s income last year, while the average worker isn’t seeing a raise at all.” Typically, however, he spoke as though he was an innocent bystander and the further enrichment of the financial aristocracy had nothing to do with himself or his own policies.
In reality, the single-minded focus of Obama’s domestic agenda from day one has been to enable the ruling class to recover its losses from the crash and exploit the crisis to amass even greater wealth. Even as he sought in his speech to blame congressional Republicans for obstructing his supposed campaign in behalf of the middle class, Obama signaled that he intended to intensify his attack on social programs for workers and grant new windfalls to big business.
Boasting that deficits were falling at the fastest rate since the end of World War II, he said, “there’s not a government agency or program out there that still can’t be streamlined … So I do believe we should cut out programs that we don’t need.”
He reiterated his support for “reforms” to Medicare and Social Security, including raising the retirement age for Medicare, introducing a form of means testing, and cutting cost-of-living raises for Social Security beneficiaries. At the same time, he repeated his support for a massive cut in corporate taxes.
Obama’s speech will not fool the vast majority of workers, whose anger is increasingly focusing on the White House and the former candidate of “hope” and “change.” This opposition must be mobilized on the basis of a clear, independent, socialist political program, which starts from the need to build a political movement in opposition to the entire political establishment and the capitalist system it defends.
Barry Grey
On fifth anniversary of Wall Street crash, Obama tries the Big Lie technique
17 September 2013
On Monday, US President Barack Obama marked the fifth anniversary of the Wall Street crash of September 15, 2008 with a White House speech that only underscored the unbridgeable chasm that separates the entire political establishment from the broad mass of working people.
http://mexicanoccupation.blogspot.com/2013/09/crony-capitalism-obama-celebrates-5.html
Forbes magazine reported that the wealth of the 400 richest Americans had climbed to $2 trillion, a jump from $1.7 trillion in 2012.
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