Thursday, August 15, 2013

CRONY CAPITALISM & OBAMAnomics - AMERICANS GET FUCKED OVER BIG TIME! Gallup: Approval of Obama's Economic Policy Down 7 Points Since June | CNS News

Gallup: Approval of Obama's Economic Policy Down 7 Points Since June | CNS News


JOBS – WORST UNDER OBAMA SINCE DEPRESSION!

more at this link – post on your Facebook and email broadcast

http://mexicanoccupation.blogspot.com/2013/08/two-thirds-of-all-jobs-under-obama-go.html

DURING OBAMA’S FIRST TERM 2/3s OF ALL JOBS WENT TO IMMIGRANTS, BOTH LEGAL AND ILLEGAL. FEDERAL WORKPLACE ENFORCEMENT of LAWS PROHIBITING THE EMPLOYMENT of ILLEGALS PLUMMETED 70%... AND OBAMA - HOLDER SABOTAGED E-VERIFY EVERYWHERE THEY COULD TO EASE MORE LA RAZA INTO OUR JOBS!

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JOBS: 97% ARE PART TIME… 100% PAY MISERABLE AND OF THOSE 100% GO TO OBAMA’S LA RAZA PARTY BASE of ILLEGALS! 

more at this link – post on your Facebook and email broadcast


IT’S WALL STREET ENDORSED OBAMANOMICS – THE ENDLESS ASSAULT ON AMERICAN WORKERS HE CALLS AMNESTY!

THE ABYSMAL FAILURE OF BARACK OBAMA – THE BIGGEST CON JOB IN AMERICAN HISTORY, AND BUSH’S THIRD and FOURTH TERMS… A MAN REELECTED BY ILLEGALS AND FUNDED BY CRIMINAL WALL STREET BANKSTERS!

http://mexicanoccupation.blogspot.com/2013/08/the-failed-presidency-of-bankster-owned.html

CRONY CAPITALISM ...the rise of Barack Obama and the fall of America!

OBAMA'S ASSAULT ON AMERICA -WHY WALL STREET, ILLEGALS, CRIMINAL BANKSTERS and the 1% LOVE HIM, AND THE MIDDLE CLASS GETS THE SHAFT TO PAY FOR HIS CRONY CAPITALISM

more at this link – post on your Facebook and email broadcast


CEO pay is higher than ever, as is the chasm separating the rich and super-rich from everyone else. The incomes of the top 1 percent grew more than 11 percent between 2009 and 2011—the first two years of the Obama “recovery”—while the incomes of the bottom 99 percent actually shrank.

Meanwhile, Obama is pressing forward with his proposal, outlined in his budget for the next fiscal year, to slash $400 billion from Medicare and $130 billion from Social Security… AS WELL AS WIDER OPEN BORDERS, NO E-VERIFY, NO LEGAL NEED APPLY TO KEEP WAGES DEPRESSED

President Barack Obama and the Mexican Fascist Party of LA RAZA


MEXICAN FASCISM AND HUMAN RIGHTS
VIOLATIONS WITHIN AMERICA’S OPEN
AND UNDEFENDED BORDERS:
 
more here:


…it will probably make you want to puke, but Barack Obama hands over millions to the MEXICAN FASCIST PARTY of LA RAZA, which in fact operates out of the white house under CECILIA MUNOZ. BOTH of Obama’s SEC. of (illegal) LABOR are LA RAZA SUPREMACIST! HIS ONLY NOMINEE TO THE SUPREME COURT SONIA SOTOMAYOR IS A LA RAZA PARTY MEMBER!

"This country belongs to Mexico" is said by the Mexican Militant. This is a common teaching that the U.S. is really AZTLAN, belonging to Mexicans, which is taught to Mexican kids in Arizona and California through a LA Raza educational program funded by American Tax Payers via President Obama, when he gave LA RAZA $800,000.00 in March of 2009!

H. R. 1999, entitled the Hope Fund Act of 2007, should truthfully be labeled the "Perpetual Funding of La Raza Radicals Act."

“Through love of having children, we are going to take over.”  AUGUSTIN CEBADA, BROWN BERETS, THE LA RAZA FASCIST PARTY

THE FASTEST GROWING PARTY IN AMERICA IS THE MEXICAN FASCIST PARTY of LA RAZA! FINANCED BY MEXICO, YOUR TAX DOLLARS, AND MOST OF THE FORTUNE 500!

  
BY HEATHER Mac DONALD

 
BASIC LA RAZA PROPAGANDA LIES: 

Lie #1: Legals that think our nation’s laws and sovereignty should be obeyed are racist. There’s nothing more racist than a Mexican! When poor from Central America cross the border into Mexico they are apprehended and put in prison. When an employer in Mexico hires an illegal, he is fined and jailed.

 *

Lie #2: Illegal aliens take jobs Americans won't do.

Truth: Americans are willing to do most jobs at a fair wage, but they won't do those jobs at "slave wages" or minimum wage. Thus, American workers are constantly replaced by illegal aliens willing to work for half or a third of what American workers once received. These jobs that once afforded a middle class life style now only offer illegal alien workers poverty level wages, resulting in the shrinkage of the "American Middle Class" and the enormous growth of an ever‑increasing "underclass" dependent on government entitlements.

 

*

 

Lie #3: Illegal aliens contribute more to the economy and tax base than they take.

Truth: A large portion of illegal aliens work for cash "under the table" paying no taxes. The great majority of illegals make $6‑$8 per hour, ($12,480 ‑ $16,640 per year). At such income levels, not only is there no tax due, but they also qualify for the "earned income tax credit". In California, public education alone costs over $7,500 per pupil. Multiply that times 2‑4 children, add the costs of free school breakfast and lunch, free medical care, food stamps, housing subsidies, and other entitlement "give‑aways". Harvard Professor George Borjas estimates illegal immigration costs the U.S. 70 billion dollars per year and Californians $1,300 per household annually in additional taxes. The Center for Immigration Studies estimate that the average Mexican illegal alien will use $55,200 more in public services during his lifetime than he pays in taxes.

 

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Lie #4: Without illegal alien farm labor, a head of lettuce would cost $3.00.

Truth: It already costs $3.00. You just make a $1.00 down payment at the grocery store. The government finances the other two dollars until tax time, when the additional $2.00 balance is extracted from your wallet in the form of higher taxes. The Agriculture industry gets cheap labor and higher profits, while shifting all the social costs of illegal immigrant labor to the American tax payer.

 

*

Lie #5: Most illegal aliens come here only to seek work and are law‑abiding "citizens".


Truth: In Los Angeles, as of January, 2004, 95 percent of all outstanding warrants for homicide (which total 1,200 to 1,500) target illegal aliens. Up to two‑thirds of all fugitive felony warrants (17,000) are for illegal aliens. A confidential California Department of Justice study reported in 1995 that 60 percent of the 20,000‑strong 18th Street Gang in southern California is illegal; police officers say the proportion is actually much greater. The bloody gang collaborates with the Mexican Mafia, the dominant force in California prisons, on complex drug‑distribution schemes, extortion, and drive‑by assassinations, and commits an assault or robbery every day in L.A. County. The gang has grown dramatically over the last two decades by recruiting recently arrived youngsters, most of them illegal, from Central America and Mexico.

(Source: The Illegal‑Alien Crime Wave, by Heather MacDonald, City Journal, Winter 2004)

The National Council of La Raza (NCLR) is not only one of the wealthiest and most politically powerful militant organizations in the country, it is also notoriously racist and subversive. The group's name, "La Raza," means "The Race," by which they are referring to ethnic Mexicans, or more broadly to "hispanics" or "latinos." And it is quite clear from their decades of vitriolic rhetoric — both spoken and written — that the La Raza activists are trying to engender not only race consciousness amongst hispanic U.S. citizens and Mexican migrants, but also racial militancy and animosity toward "Gringo America."

The NCLR grew out of the La Raza Unida (The Race United) Party and the Southwest Council of La Raza in the late 1960s and early 1970s. The key leaders were Marxist-Leninist followers of Fidel Castro and Che Guevarra.

The radical student group MEChA (Moviemento Estudiantil Chicano de Aztlan), with which NCLR has been closely allied for several decades, is even more explicitly and militantly, having adopted the slogan, "Por La Raza Todo, Fuera de La Raza Nada," which translated means: "For the Race, Everything; Outside the Race, Nothing."

MEChA's founding documents and literature are replete with appeals to "La Raza de Bronce" (The Bronze Race) and condemnation of the "brutal gringo." MEChA, as its name suggests, is also a leading promoter of the radical "reconquista" (reconquest) movement, a plan of to take over the states of California, Arizona, New Mexico, Colorado, and Texas — a region they refer to as "Aztlan" — which they claim was stolen from the "Aztecan" peoples. NCLR provides major financial support to MEChA and many of NCLR's leaders were MEChA leaders in their college days.

NCLR: Agents for the Government of Mexico?

Especially troubling is NCLR's leading role in the Fundacion Solidaridad Mexicano Americana (Foundation for Mexican-American Solidarity, FSMA), an organization founded and funded by the government of Mexico and directed by the Mexican Ministry of Foreign Affairs and Ministry of Public Education. Both of these ministries have been engaged in efforts aimed at demanding full political rights for illegal aliens in the U.S. and indoctrinating America's Hispanic population in radical, racist La Raza ideology.

 
LaRaza Calls For Boycott Against Free Speech



No surprise here. Pulling the race/hate card again and using political correctness La Raza goes after cable shows reporting on illegal immigration.

"Murguía said she recognized that ultimately the power to change the debate lies with the Hispanic community itself. “Latinos buy products from the advertisers supporting these programs,” she said. “Latinos vote in primaries and in the general election. We have a significant role to play picking winners and losers in both arenas. We need to make it clear to those who embrace hate that they do so at their own economic and political peril.”

http://www.nclr.org/content/news/detail/50375/

 
 

MEXICO'S HUMAN RIGHTS VIOLATIONS - RIGHT HERE IN AMERICA'S OPEN and UNDEFENDED BORDERS


...remember these are the very people that Obama is handing amnesty or continued non-enforcement to along with OBAMACARE, our jobs and LA RAZA DREAM ACTS!

Mexicans are the most violent and racist cultures in the hemisphere.

“Marcos Aguilar’s school seems to be brainwashing school children with Mexican separatist, anti-American, Marxist propaganda, and getting American taxpayers to pay for it,” said Judicial Watch President Tom Fitton.

MEXICAN FASCISM AND HUMAN RIGHTS VIOLATIONS IN AMERICAN BORDERS – THE FASTEST GROWIN POLITICAL PARTY IN AMERICA is LA RAZA “THE (mexican) RACE”

 

 Viva La Raza? …the democrat party does!

MEXICO’S HUMAN RIGHTS VIOLATIONS IN AMERICA AND IN MEXICO


There have been more than 2,000 Californians murdered by Mexicans that fled back over the border to avoid prosecution.

MEXICAN FASCISM HERE and IN MEXICO

 
http://mexicanoccupation.blogspot.com/2013/04/lawmakers-obama-administration-should.html

 
MEXICO’S HUMAN RIGHTS VIOLATIONS
 IN AMERICA AND IN MEXICO

There have been more than 2,000 Californians murdered by Mexicans that fled back over the border to avoid prosecution.

MEXICAN FASCISM HERE and IN MEXICO

http://mexicanoccupation.blogspot.com/2013/04/lawmakers-obama-administration-should.html


Judicial Watch Exposes Mexican Separatist School – LA RAZA “THE RACE”, M.E.Ch.A. and the AZTLAN PLAN of occupation of America whereby Americans are forced to pay for their own occuapation, looting and Mexican welfare state

 (for your information, Obama’s CA reelection co-chairman was Los Angeles mayor Antonio Villaraigosa, a member of M.E.Ch.A.)

Academia is funded by the Mexican reconquista organization “National Council of La Raza.” Moreover, Aguilar previously served as a leader of M.E.Ch.A., a radical student-run Chicano organization, while attending UCLA. According to M.E.Ch.A.’s official statement of principles, “Aztlan (the American southwest) belongs to indigenous people, who are sovereign and not subject to a foreign culture. We are a union of free pueblos forming a bronze Nation.”

Judicial Watch Exposes Mexican Separatist School Is Academia Semillas del Pueblo Training the Next Generation of Mexican Revolutionaries?

Judicial Watch, the public interest group that investigates and prosecutes corruption, today announced the release of a special report, Academia Semillas del Pueblo (Seeds of the People Academy): Training the Next Generation of Mexican Revolutionaries with American Tax Dollars. Judicial Watch’s report includes excerpts of new documents obtained by Judicial Watch through the California Public Records Act that highlight the school’s radical agenda. According to the report’s introduction: “Academia Semillas del Pueblo is not much more than a training ground for the Mexican reconquista movement, which seeks to conquer the American Southwest – by force or by ballot box – and return it to Mexico.” Among the highlights of Judicial Watch’s special report: • Academia is led by Mexican revolutionary radical Marcos Aguilar, who recently told an interviewer with UCLA’s Teaching to change L.A.: “We don’t necessarily want to go to White schools, the White way, the American way, the neo liberal, capitalist way of life will eventually lead to our own destruction.”  Academia offers an 8th grade United States history and geography class entitled, “A People’s history of Expansion and Conflict – A thematic survey of American politics, society, culture and political economy; Emphasis throughout on the nations the U.S. usurped, invaded and dominated; Connections between historical rise of capitalism and imperialism with modern political economy and global social relations.”  Academia is funded by the Mexican reconquista organization “National Council of La Raza.” Moreover, Aguilar previously served as a leader of M.E.Ch.A., a radical student-run Chicano organization, while attending UCLA. According to M.E.Ch.A.’s official statement of principles, “Aztlan (the American southwest) belongs to indigenous people, who are sovereign and not subject to a foreign culture¼We are a union of free pueblos forming a bronze Nation.” According to Academia’s original charter application, the school targets “communities [that] are highly self-identified as Latino.” English instruction for Academia’s students does not begin until the fourth grade. “Marcos Aguilar’s school seems to be brainwashing school children with Mexican separatist, anti-American, Marxist propaganda, and getting American taxpayers to pay for it,” said Judicial Watch President Tom Fitton. “How could the Los Angeles Unified School District agree to fund this sham of a school with tax dollars?”


…please get on JUDICIAL WATCH’S E-NEWS!

www.judicialwatch.org


"This country belongs to Mexico" is said by the Mexican Militant. This is a common teaching that the U.S. is really AZTLAN, belonging to Mexicans, which is taught to Mexican kids in Arizona and California through a LA Raza educational program funded by American Tax Payers via President Obama, when he gave LA RAZA $800,000.00 in March of 2009!

H. R. 1999, entitled the Hope Fund Act of 2007, should truthfully be labeled the "Perpetual Funding of La Raza Radicals Act."

*

“Through love of having children, we are going to take over.”  AUGUSTIN CEBADA, BROWN BERETS, THE LA RAZA FASCIST PARTY

*
Lou Dobbs
Tonight Tuesday July 8, 2008
Sens. McCain and Obama are fiercely courting the Latino vote. Last month they spoke to the National Association of Latino Elected and Appointed Officials; today it’s the League of United Latin American Citizens’ national convention; and this weekend they’re set to address the National Council of La Raza, one of the most radical socio-ethnocentric interest groups in the country.


FIFTEEN THINGS YOU SHOULD KNOW ABOUT LA RAZA “THE RACE” Obama-funded Mexican fascism in our borders!

by Michelle Malkin


"The American Southwest seems to be slowly returning to the jurisdiction of Mexico without firing a single shot."  --- Excelsior, the national newspaper of Mexico
 
THE FASTEST GROWING PARTY IN AMERICA IS THE MEXICAN FASCIST PARTY of LA RAZA! FINANCED BY MEXICO, YOUR TAX DOLLARS, AND MOST OF THE FORTUNE 500!
 
 
*
BY HEATHER Mac DONALD
  
 

BASIC LA RAZA PROPAGANDA LIES:

 
Lie #1: Legals that think our nation’s laws and sovereignty should be obeyed are racist. There’s nothing more racist than a Mexican! When poor from Central America cross the border into Mexico they are apprehended and put in prison. When an employer in Mexico hires an illegal, he is fined and jailed.
 
*
Lie #2: Illegal aliens take jobs Americans won't do.
Truth: Americans are willing to do most jobs at a fair wage, but they won't do those jobs at "slave wages" or minimum wage. Thus, American workers are constantly replaced by illegal aliens willing to work for half or a third of what American workers once received. These jobs that once afforded a middle class life style now only offer illegal alien workers poverty level wages, resulting in the shrinkage of the "American Middle Class" and the enormous growth of an ever‑increasing "underclass" dependent on government entitlements.
 
*
 
Lie #3: Illegal aliens contribute more to the economy and tax base than they take.
Truth: A large portion of illegal aliens work for cash "under the table" paying no taxes. The great majority of illegals make $6‑$8 per hour, ($12,480 ‑ $16,640 per year). At such income levels, not only is there no tax due, but they also qualify for the "earned income tax credit". In California, public education alone costs over $7,500 per pupil. Multiply that times 2‑4 children, add the costs of free school breakfast and lunch, free medical care, food stamps, housing subsidies, and other entitlement "give‑aways". Harvard Professor George Borjas estimates illegal immigration costs the U.S. 70 billion dollars per year and Californians $1,300 per household annually in additional taxes. The Center for Immigration Studies estimate that the average Mexican illegal alien will use $55,200 more in public services during his lifetime than he pays in taxes.
 
*
Lie #4: Without illegal alien farm labor, a head of lettuce would cost $3.00.
Truth: It already costs $3.00. You just make a $1.00 down payment at the grocery store. The government finances the other two dollars until tax time, when the additional $2.00 balance is extracted from your wallet in the form of higher taxes. The Agriculture industry gets cheap labor and higher profits, while shifting all the social costs of illegal immigrant labor to the American tax payer.
 
*
Lie #5: Most illegal aliens come here only to seek work and are law‑abiding "citizens".

Truth: In Los Angeles, as of January, 2004, 95 percent of all outstanding warrants for homicide (which total 1,200 to 1,500) target illegal aliens. Up to two‑thirds of all fugitive felony warrants (17,000) are for illegal aliens. A confidential California Department of Justice study reported in 1995 that 60 percent of the 20,000‑strong 18th Street Gang in southern California is illegal; police officers say the proportion is actually much greater. The bloody gang collaborates with the Mexican Mafia, the dominant force in California prisons, on complex drug‑distribution schemes, extortion, and drive‑by assassinations, and commits an assault or robbery every day in L.A. County. The gang has grown dramatically over the last two decades by recruiting recently arrived youngsters, most of them illegal, from Central America and Mexico.
 
*
 
(Source: The Illegal‑Alien Crime Wave, by Heather MacDonald, City Journal, Winter 2004)
 
 
*
  
The National Council of La Raza (NCLR) is not only one of the wealthiest and most politically powerful militant organizations in the country, it is also notoriously racist and subversive. The group's name, "La Raza," means "The Race," by which they are referring to ethnic Mexicans, or more broadly to "hispanics" or "latinos." And it is quite clear from their decades of vitriolic rhetoric — both spoken and written — that the La Raza activists are trying to engender not only race consciousness amongst hispanic U.S. citizens and Mexican migrants, but also racial militancy and animosity toward "Gringo America."
The NCLR grew out of the La Raza Unida (The Race United) Party and the Southwest Council of La Raza in the late 1960s and early 1970s. The key leaders were Marxist-Leninist followers of Fidel Castro and Che Guevarra.
The radical student group MEChA (Moviemento Estudiantil Chicano de Aztlan), with which NCLR has been closely allied for several decades, is even more explicitly and militantly, having adopted the slogan, "Por La Raza Todo, Fuera de La Raza Nada," which translated means: "For the Race, Everything; Outside the Race, Nothing."
MEChA's founding documents and literature are replete with appeals to "La Raza de Bronce" (The Bronze Race) and condemnation of the "brutal gringo." MEChA, as its name suggests, is also a leading promoter of the radical "reconquista" (reconquest) movement, a plan of to take over the states of California, Arizona, New Mexico, Colorado, and Texas — a region they refer to as "Aztlan" — which they claim was stolen from the "Aztecan" peoples. NCLR provides major financial support to MEChA and many of NCLR's leaders were MEChA leaders in their college days.
NCLR: Agents for the Government of Mexico?
Especially troubling is NCLR's leading role in the Fundacion Solidaridad Mexicano Americana (Foundation for Mexican-American Solidarity, FSMA), an organization founded and funded by the government of Mexico and directed by the Mexican Ministry of Foreign Affairs and Ministry of Public Education. Both of these ministries have been engaged in efforts aimed at demanding full political rights for illegal aliens in the U.S. and indoctrinating America's Hispanic population in radical, racist La Raza ideology.
 
*
LaRaza Calls For Boycott Against Free Speech


No surprise here. Pulling the race/hate card again and using political correctness La Raza goes after cable shows reporting on illegal immigration.

"Murguía said she recognized that ultimately the power to change the debate lies with the Hispanic community itself. “Latinos buy products from the advertisers supporting these programs,” she said. “Latinos vote in primaries and in the general election. We have a significant role to play picking winners and losers in both arenas. We need to make it clear to those who embrace hate that they do so at their own economic and political peril.”

http://www.nclr.org/content/news/detail/50375/


Why the LA RAZA Mexican Drug Cartels Endorsed and Voted for Barack Obama


HE PUNKED THE AMERICAN PEOPLE TWICE BUT WILL STILL GO DOWN IN HISTORY HAS ONE OF AMERICA’S WORST AND MOST CORRUPT PRESIDENTS.

“I’m not here to punish banks!” Bankster-owned Barack Obama from the floor of the Senate, State of the Union Message.

During Obama’s first two years alone, banks made more profits than under all eight years of Bush. The Obama bank’s profits and crimes soared, as did foreclosures.


MEXICAN DRUG DEALER OPERATES IN OUR BORDERS

THE MEXICAN DRUG CARTELS OPERATE IN 2,500 AMERICAN CITIES AND WHOLEHEARTEDLY ENDORSE OBAMA’S OPEN AND UNDEFENDED BORDERS AGENDA.

“Oropeza, 48, was arrested May 31, 2007, by police in Saraland, Ala., who stopped him on a traffic violation. Checking his record, they learned of the investigation in Texas.

They searched the van and discovered 185 pounds of cocaine hidden under a false floor. That allowed federal agents to freeze Oropeza's bank accounts and search his marble-floored home in Brownsville, Robinette says.”

The government, like the banks, had a vested interest in shutting down the investigation, as the results of any genuine inquiry would have exposed negligence and collusion on the part of the regulators as well as gross violations of law by the banks that would have made it more difficult for the Obama administration to avoid criminal prosecutions.

The Times also reported that such “independent investigators” played a key role in the HSBC money laundering scandal, helping cover up the extent of the British-based bank’s money laundering operation for Mexican drug cartels.

Poll: Majority oppose more foreign workers under immigration reform - BILLIONAIRE MARK ZUCKERBERG SAYS HE WANTS HORDES OF ILLEGALS FLOODING THE NATION TO KEEP WAGES DEPRESSED - SOUNDS LIKE HE WANTS OBAMA'S AMNESTY HOAX! The Hill -

Poll: Majority oppose more foreign workers under immigration reform - The Hill - covering Congress, Politics, Political Campaigns and Capitol Hill | TheHill.com


THE GREEDY KOCH BROTHERS, PATRON SAINT OF FASCIST WALL STREET LOOTERS, JUST PAID TO HAVE PAUL RYAN AND MARK ZUCKERBERG MATED.

WHAT THEY CAME UP WITH IS A DROOLING POLITICIAN WITH HIS NOSE UP A GREEDY BILLIONAIRE’S AS S. BUT THEN THAT’S WHERE PAUL RYAN’S NOSE USUALLY IS!

 
http://mexicanoccupation.blogspot.com/2013/08/greedy-greedy-greedy-runt-billionaire.html

America… NO LEGAL NEED APPLY!

One-way trips to U. S. frustrate immigration authorities

An estimated 4.4 million people entered the country on legal visas and have never left. Officials often have no way of knowing whether they do.

THE ENTIRE BASIS OF AMNESTY IS TO KEEP WAGES DEPRESSED.
“Tech tycoons like Larry Ellison and Mark Zuckerberg have gotten rich while wages in the technology sector have stagnated.”

Tech firms fight hiring rules in immigration bill
Americans would "be shocked to know that most of the H-1B visas … are going to outsourcing companies," Sen. Dick Durbin, D-Ill., said during a recent hearing.
The danger, as Washington Post economics columnist Robert Samuelson argues, is that of “importing poverty” in the form of a new underclass—a permanent group of working poor… AMNESTY IS ONLY ABOUT KEEPING WAGES FOR LEGALS DEPRESSED!

Heritage: Amnestied Illegals Will Get $9.4T in Benefits; Increase Debt $6.3T'

what is the REAL cost of all that “CHEAP” Mexican labor? Add it up and then factor in the MEXICAN CRIME TIDAL WAVE and the fact that the MEXICAN DRUG CARTELS now operate in 2,500 American cities!

more at this link – post on your Facebook and email broadcast

RUNT BILLIONAIRE FUCKERBERG SAYS OBAMA'S AMNESTY HOAX WILL HELP HIM KEEP WAGES DEPRESSED! Zuckerberg's FWD.us to hold pro-immigration roundtable with Hatch - The Hill's Hillicon Valley

Zuckerberg's FWD.us to hold pro-immigration roundtable with Hatch - The Hill's Hillicon Valley


THE ENTIRE BASIS OF AMNESTY IS TO KEEP WAGES DEPRESSED.

“Tech tycoons like Larry Ellison and Mark Zuckerberg have gotten rich while wages in the technology sector have stagnated.”

Tech firms fight hiring rules in immigration bill

Americans would "be shocked to know that most of the H-1B visas … are going to outsourcing companies," Sen. Dick Durbin, D-Ill., said during a recent hearing.


VISAS

America… NO LEGAL NEED APPLY!

One-way trips to U. S. frustrate immigration authorities

An estimated 4.4 million people entered the country on legal visas and have never left. Officials often have no way of knowing whether they do.

Barack Obama: JP Morgan's RENT BOY


CRONY CAPITALISM: JP MORGAN’S RENT BOY, BARACK OBAMA HAS HELPED HIS CRIMINAL BANKSTERS LOOT AMERICA BIG TIME!

more at this link – post on your Facebook and email broadcast 

…it’s probably all he’s ever done well in in his pathetic corrupt political life!


…no filthy politician in American history has taken more loot from looting banksters than the WALKING CON JOB BARACK OBAMA… and not one bankster has gone to prison! HOW’D THAT HAPPEN?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?$?

“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).”

OBAMA KEEPS PROMISE! NO CRIMINAL CRONY BANKSTER DONOR GOES TO PRISON! US shields CEO Dimon in indictment of JPMorgan traders

US shields CEO Dimon in indictment of JPMorgan traders

OBAMA HAS PROFESSED THAT JP MORGAN IS HIS PAYMASTERS AND GOOD BANKSTER!''


For much of Obama’s tenure, Jamie Dimon was known as the White House’s “favorite banker.” According to White House logs, Dimon visited the White House at least 18 times, often to talk to his former subordinate at JPMorgan, William Daley, who had been named White House chief of staff by Obama after the Democratic rout in the 2010 elections.

OBAMA PROMISED HIS CRIMINAL BANKSTER DONORS NO PRISON TIME AND NO REAL REGULATION. DID HE DELIVER?

The JPMorgan scandal also throws into relief the government’s failure to prosecute those responsible for the 2008 financial meltdown. Despite overwhelming evidence of wrongdoing and criminality uncovered by two federal investigations last year, those responsible have been shielded from prosecution.

BANK PROFITS SOARING!

YES, UNDER THE BANKSTER-OWNED PRESIDENT OBAMA, LIFE IS GOOD FOR HIS CRIMINAL BANKSTER DONORS. THEIR PROFITS and CRIMES ARE SOARING AND SO ARE FORECLOSURES.

more at this link – post on your Facebook and email broadcast


“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).”

*

A CASE OF INCEST! OBAMA PARTNERS WITH WALL STREET’S BIGGEST CRIMINAL BANKSTERS, MOST OF WHOM NOW WORK IN THE OBAMA ADMINISTRATION!

CRONY CAPITALISM: OBAMA PROTECTS JP MORGAN, THE BIGGEST BANKSTER CRIMINALS IN AMERICAN HISTORY, AND ONE OF OBAMA’S BIGGEST BANKSTER DONORS!

Nearly five years after the greatest financial crash since the Great Depression, triggered by rampant illegality and fraud on the part of the major banks, not a single major institution or leading bank executive has been indicted, let alone tried, convicted and jailed.


The criminal charges are part of an attempt by the Obama administration to create the appearance that it is cracking down on Wall Street criminality, while it continues to shield top executives and allow banking fraud and criminality to continue unabated.

“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).”

THE BANKSTER-OWNED PRESIDENT PROMISED HIS CRIMINAL BANKSTER DONORS NO real REGULATION, NO PRISON TIME, AND UNLIMITED PILLAGING OF THE NATION’S ECONOMY!

DESPITE THE DEVASTATION THESE BANKSTERS HAVE CAUSED AMERICANS, THEIR PROFITS SOARED GREATER DURING OBAMA’S FIRST TWO YEARS, THAN ALL EIGHT UNDER BUSH. SO HAVE FORECLOSURES!

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's favorite banker faces losses of $2 billion and possibly more -- all because of the complex, now-you-see-it-now-you-don't trading in exotic financial instruments that he has so ardently lobbied Congress not to regulate.”
 

Is JPMorgan's Loss a Canary in a Coal Mine?

Posted: 05/16/2012 4:49 pm

That sound of shattered glass you've been hearing is the iconic portrait of Jamie Dimon splintering as it hits the floor of JPMorgan Chase. As the Good Book says, "Pride goeth before a fall," and the sleek, silver-haired, too-smart-for-his-own-good CEO of America's largest bank has been turning every television show within reach into a confessional booth. Barack Obama's favorite banker faces losses of $2 billion and possibly more -- all because of the complex, now-you-see-it-now-you-don't trading in exotic financial instruments that he has so ardently lobbied Congress not to regulate.

Once again, doing God's work -- that is, betting huge sums of money with depositor funds knowing that you are too big to fail and can count on taxpayers riding to your rescue if your avarice threatens to take the country down -- has lost some of its luster. The jewels in Dimon's crown sparkle with a little less grandiosity than a few days ago, when he ridiculed Paul Volcker's ideas for keeping Wall Street honest as "infantile."

To find out more about what this all means, I turned to Simon Johnson, once chief economist of the International Monetary Fund and now a professor at MIT's Sloan School of Management and senior fellow at the Peterson Institute for International Economics. He and his colleague James Kwak founded the now-indispensable website baselinescenario.com. They co-authored the bestselling book 13 Bankers and a most recent book, White House Burning, an account every citizen should read to understand how the national deficit affects our future.

Bill Moyers: If Chase began to collapse because of risky betting, would the government be forced to step in again?

Simon Johnson: Absolutely, Bill. JPMorgan Chase is too big to fail. Hopefully in the future we can move away from this system, but right now it is too big. It's about a $2.5 trillion dollar bank in terms of total assets. That's roughly 20 percent of the U.S. economy, comparing their assets to our GDP. That's huge. If that bank were to collapse -- I'm not saying it will -- but if it were to collapse, it would be a shock to the economy bigger than that of the collapse of Lehman Brothers, and as a result, they would be protected by the Federal Reserve. They are exactly what's known as too big to fail.

Moyers: I was just looking at an interview I did with you in February of 2009, soon after the collapse of 2008 and you said, and I'm quoting, "The signs that I see... the body language, the words, the op-eds, the testimony, the way these bankers are treated by certain congressional committees, it makes me feel very worried. I have a feeling in my stomach that is what I had in other countries, much poorer countries, countries that were headed into really difficult economic situations. When there's a small group of people who got you into a disaster and who are still powerful, you know you need to come in and break that power and you can't. You're stuck." How do you feel about that insight now?

Johnson: I'm still nervous, and I think that the losses that JPMorgan reported -- that CEO Jamie Dimon reported -- and the way in which they're presented, the fact that they're surprised by it and the fact that they didn't know they were taking these kinds of risks, the fact that they lost so much money in a relatively benign moment compared to what we've seen in the past and what we're likely to see in the future -- all of this suggests that we are absolutely on the path towards another financial crisis of the same order of magnitude as the last one.

Moyers: Should Jamie Dimon resign? I ask that because as you know and as we've discussed, Chase and other huge banks have been using their enormous wealth for years to, in effect, buy off our politicians and regulators. Chase just had to pay up almost three quarters of a billion dollars in settlements and surrendered fees to settle one case alone, that of bribery and corruption in Jefferson County, Alabama. It's also paid out billions of dollars to settle other cases of perjury, forgery, fraud and sale of unregistered securities. And these charges were for actions that took place while Mr. Dimon was the CEO. Should he resign?

Johnson: I think, Bill, there should be an independent investigation into how JPMorgan operates both with regard to these losses and with regard to all of the problems that you just identified. This investigation should be conducted separate from the board of directors. Remember that the shareholders and the board of directors absolutely have an incentive to keep JPMorgan Chase as a too-big-to-fail bank. But because it is that kind of bank, its downside risk is taken by the Federal Reserve, by the taxpayer, by the broader economy and all citizens. We need to have an independent, detailed, specific investigation to establish who knew what when and what kind of wrongdoing management was engaged in. On the basis of that, we'll see what we'll see and who should have to resign.

Moyers: Dimon is also on the board of the Federal Reserve Bank of New York, which, as everyone knows is supposed to regulate JPMorgan. What in the world are bankers doing on the Fed board, regulating themselves?

Johnson: This is a terrible situation, Bill. It goes back to the origins, the political compromise at the very beginning of the Federal Reserve system about a hundred years ago. The bankers were very powerful back then, also, and they got a Federal Reserve system in which they had a lot of representation. Some of that has eroded over time because of previous abuses, but you're absolutely right, the prominent bankers, including most notably, Jamie Dimon, are members of the board of the New York Federal Reserve, a key element in the Federal Reserve system. And he should, under these circumstances, absolutely step down from that role. It's completely inappropriate to have such a big bank represented in this fashion. The New York Fed claims there's no impropriety, there's no wrong doing and he doesn't involve himself in supervision and so on and so forth. Perhaps, but why does Mr. Dimon, a very busy man, take time out of his day to be on the board of the New York fed? He is getting something from this. It's a trade, just like everything else on Wall Street.

Moyers: He dismissed criticism of his dual role yesterday by downplaying the role of the Fed board. He said it's more like an "advisory group than anything else." I had to check my hearing aid to see if I'd heard that correctly.

Johnson: Well, I think he is advising them on lots of things. He also, of course, meets with some regularity with top Treasury officials, and some reports say that he meets with President Obama with some regularity. The political access and connections of Mr. Dimon are second to none. One of his senior executives was until recently chief of staff in the White House, if you can believe that. I really think this has gone far enough. Under these kinds of circumstances with this amount of loss of control over risk management, what we need to have is Mr. Dimon step down from the New York Federal Reserve Board.

Moyers: He told shareholders at their annual meeting Tuesday -- they were meeting in Tampa, Florida -- that these were "self-inflicted mistakes" that "should never have happened." Does that seem reasonable to you?

Johnson: Well, it's all very odd, Bill, and I've talked to as many experts as I can find who are at all informed about what JPMorgan was doing and how they were doing it and nobody really understands the true picture. That's why we need an independent investigation to establish -- was this an isolated incident or, more likely, the breakdown of a system of controlling and managing risks. Keep in mind that JPMorgan is widely regarded to be the best in the business at risk management, as it is called on Wall Street. And if they can't do this in a relatively benign moment when things are not so very bad around the world, what is going to happen to them and to other banks when something really dramatic happens, for example, in Europe in the eurozone?

Moyers: Some of his supporters are claiming that only the bank has lost on this and that there's absolutely no chance that the loss could have threatened the stability of the banking system as happened in 2008. What do you say again to that?

Johnson: I say this is the canary in the coal mine. This tells you that something is fundamentally wrong with the way banks measure, manage and control their risks. They don't have enough equity funding in their business. They like to have a little bit of equity and a lot of debt. They get paid based on return on equity, unadjusted for risk. If things go well, they get the upside. If things go badly, the downside is someone else's problem. And that someone else is you and me, Bill. It goes to the Federal Reserve, but not only, it goes to the Treasury, it goes to the debt.

The Congressional Budget Office estimates that the increase in debt relative to GDP due to the last crisis will end up being 50 percent of GDP, call that $7 trillion dollars, $7.5 trillion dollars in today's money. That's extraordinary. It's an enormous shock to our fiscal accounts and to our ability to pay pensions and keep the healthcare system running in the future. For what? What did we get from that? Absolutely nothing. The bankers got some billions in extra pay, we get trillions in extra debt. It's unfair, it's inefficient, it's unconscionable, and it needs to stop.

Moyers: Wasn't part of the risk that Dimon took with taxpayer guaranteed deposits? I mean, if I had money at JPMorgan Chase, wouldn't some of my money have been used to take this risk?

Johnson: Again, we don't know the exact details, but news reports do suggest that yes, they were gambling with federally insured deposits, which just really puts the icing on the cake here.

Moyers: Do we know yet what is Dimon's culpability? Is it conceivable to you that a risk this big would have been incurred without his approval?

Johnson: It seems very strange and quite a stretch. And he did tell investors, when he reported on first quarter earnings in April, that he was aware of the situation, aware of the trade -- he called it a "tempest in a teacup," and, therefore, not something to worry about.

Moyers: He's been Wall Street's point man in their campaign against tighter regulation of derivatives and proprietary trading. Were derivatives at the heart of this gamble?

Johnson: Yes, according to reliable reports, this was a so-called "hedging" strategy that turned out to be no more than a gamble, but the people involved perhaps didn't understand that or maybe they understood it and covered it up. It was absolutely about a bet on extremely complex derivatives and the interesting question is who failed to understand exactly what they were getting into. And how did Jamie Dimon, who has a reputation that he burnishes more than anybody else for being the number one expert risk manager in the world -- how did he miss this one?

Moyers:I've been reading a lot of stories today about members of the House, Republicans in particular, saying this doesn't change their opinion at all that we've got to still diminish regulation. What do you think about that?

Johnson: I think that it is a recipe for disaster. Look, deregulating or not regulating during the boom is exactly how you get into bailouts in the bust. The goal should be to make all the banks small enough and simple enough to fail. End the government subsidies here. And when I talk to people on the intellectual right, Bill, they get this, as do people on the intellectual left. The problem is, the political right largely doesn't want to go there because of the donations. I'm afraid some people, not all, but some people on the political left don't want to go there either.

Moyers: The Washington Post reported that the Justice Department has launched a criminal investigation into JPMorgan's trading loss. Have you spotted -- and I know this is sensitive -- but have you spotted anything in the story so far that suggests the possibility of criminality? Dodd-Frank is not in existence yet, so where would any possibility of criminality come from?

Johnson: Well Dodd-Frank is in existence but the rules have not been written and therefore not implemented. So yes, it is hard to violate those rules in their current state. And many of those rules, by the way, violation would be a civil penalty, not a criminal penalty. If you violate a securities law -- if you've mislead investors, if there was material adverse information that was not disclosed in an appropriate and timely manner -- that's a very serious offence traditionally.

I have to say that the Department of Justice and the Securities and Exchange Commission have not been very good at enforcing securities law in recent years, including and specifically since the financial crisis. I am skeptical that this will change. But if they have an investigation that reveals all of the details of what happened and how it happened, that would be extremely informative and show us, I believe, that the risk management approach and attitudes on Wall Street are deeply flawed and leading us towards a big crisis.

Moyers: So what are people to do, Simon? What can people do now in response to this?

Johnson: Well, I think you have to look for politicians who are proposing solutions, and look on the right and on the left. I see Elizabeth Warren, running for the Senate in Massachusetts, who is saying we should bring back Glass-Steagall to separate commercial banking from investment banking. I see Tom Hoenig, who is not a politician, he's a regulator, he's the former president of the Kansas City Fed, and he's now one of the top two people at the Federal Deposit Insurance Corporation, the FDIC. He is saying that big banks should no longer have trading desks. That's the same sort of idea that Elizabeth Warren is expressing. We need a lot more people to focus on this and to make this an issue for the elections.

And I would say in this context, Bill, it's very important not to be distracted. I understand for example, Speaker Boehner, the Republican Speaker of the House of Representatives, is proposing to have another conflict over the debt ceiling in the near future. This is the politics of distraction. This is refusing to recognize that a huge part of our fiscal problems today and in the future are due to these risks within the financial system that are allowed because the people running the biggest banks hand out massive campaign contributions across the political spectrum.

Moyers: Are you saying that this financial crisis, so-called, is at heart a political crisis?

Johnson: Yes, exactly. I think that a few people, particularly in and around the financial system, have become too powerful. They were allowed to take a lot of risk, and they did massive damage to the economy -- more than eight million jobs lost. We're still struggling to get back anywhere close to employment levels where we were before 2008. And they've done massive damage to the budget. This damage to the budget is long lasting; it undermines the budget when we need it to be stronger because the society is aging. We need to support Social Security and support Medicare on a fair basis. We need to restore and rebuild revenue, revenue that was absolutely devastated by the financial crisis. People need to understand the link between what the banks did and the budget. And too many people fail to do that. "Oh, it's too complicated. I don't want to understand the details, I don't want to spend time with it." That's a mistake, a very big mistake. You're playing into the hands of a few powerful people in the society who want private benefit and social loss.

Watch Moyers & Company weekly on public television. See more web-only features like this at BillMoyers.com



Why hasn’t Obama been impeached? His violations of our borders laws, inducing illegals to vote, sabotage of jobs for Americans, connections to criminal banksters…. WHAT DOES IT TAKE? 

NO WORKS IN THE CORRUPT OBAMA WHITE HOUSE THAT IS NOT CONNECTED TO THE BANKSTERS THAT OWN OBAMA, OR THE MEXICAN FASCIST PARTY of LA RAZA!

THE REASON OBAMA BROUGHT IN DALEY WAS BECAUSE WAS FROM JPMORGAN, AND AN ADVOCATE FOR OPEN BORDERS.

For much of Obama’s tenure, Jamie Dimon was known as the White House’s “favorite banker.” According to White House logs, Dimon visited the White House at least 18 times, often to talk to his former subordinate at JPMorgan, William Daley, who had been named White House chief of staff by Obama after the Democratic rout in the 2010 elections.

OBAMA PROMISED HIS CRIMINAL BANKSTER DONORS NO PRISON TIME AND NO REAL REGULATION. DID HE DELIVER?

The JPMorgan scandal also throws into relief the government’s failure to prosecute those responsible for the 2008 financial meltdown. Despite overwhelming evidence of wrongdoing and criminality uncovered by two federal investigations last year, those responsible have been shielded from prosecution.

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).

The JPMorgan debacle

15 May 2012

The economic and political fallout from JPMorgan Chase’s sudden announcement last Thursday night that it lost more than $2 billion from speculative bets on credit derivatives continued to grow on Monday. The biggest US bank announced the forced retirement of Ina Drew, who headed up the bank’s London-based Chief Investment Office, which placed huge bets on the creditworthiness of a collection of US corporations. Other top executives and traders are expected to be sacked or demoted.

The bank’s shares fell another 3.2 percent, bringing its two-day market capitalization loss to nearly $19 billion. The Wall Street Journal reported that JPMorgan was prepared for a total loss of more than $4 billion over the next year from its soured stake in credit default swaps—the same investment vehicle that played a central role in the collapse of Lehman Brothers and the government bailout of insurance giant American International Group (AIG) in September of 2008.

In an interview on NBC’s “Meet the Press” program on Sunday, JPMorgan CEO Jamie Dimon sought to present the loss as an innocent mistake, resulting from “errors, sloppiness and bad judgment.” Only a month ago, Dimon, who has led the public campaign by Wall Street against even the mildest restrictions on speculative banking practices, dismissed warnings over the massive bets being made by his Chief Investment Office as “a complete tempest in a teapot.”

The scale of the loss and the denials that preceded it raise the likelihood that banking rules and laws against investor fraud and deception were breached.

President Obama, however, rushed to the defense of JPMorgan and Dimon, declaring on a daytime television talk show Monday that JPMorgan was “one of the best managed banks there is” and Dimon was “one of the smartest bankers we got.” At the same time he cited the bank’s loss as a vindication of the Dodd-Frank financial regulatory bill that he signed into law in July of 2010. “This is why we passed Wall Street reform,” he said.

In fact, the JPMorgan debacle demonstrates that nearly four years after the Wall Street crash nothing has changed for the financial aristocracy. No measures have been taken to rein in the banks, which received trillions of dollars in government handouts, guarantees and cheap loans. The same forms of speculation and outright swindling that led to the financial meltdown and the worst economic crisis since the Great Depression continue unabated.

The big banks, such as JPMorgan, have increased their stranglehold over the US economy. They have recorded bumper profits by withholding credit from consumers and small businesses, keeping unemployment high, while speculating on credit default swaps and other exotic financial instruments that drain resources from the real economy. On this basis, bank executives and traders, including those at bailed-out institutions, have continued to rake in eight-figure compensation packages. Last year, Ina Drew made $14 million, and Jamie Dimon took in $26 million.

The Dodd-Frank law trumpeted by Obama is a fraud, an attempt to give the appearance of financial reform while enabling the banks to continue their parasitic and criminal activities. A case in point is the so-called Volcker Rule, named after the former chairman of the Federal Reserve and economic adviser to the Obama White House, Paul Volcker.

The rule, incorporated into the Dodd-Frank Act and supposedly one of its most daring provisions, ostensibly bars proprietary trading—speculation by a bank on its own account—by commercial banks whose consumer deposits are guaranteed by the federal government. The idea is to prevent government-insured banks from speculating with depositors’ money.

But the regulation as drafted by federal regulators—under pressure from the Federal Reserve and Obama’s treasury secretary, Timothy Geithner, as well as the banks—would actually allow the type of speculative bet made by JPMorgan in the guise of a “hedge” to offset risk in the bank’s overall investment portfolio.

The Volcker Rule, whose precise form is yet to be announced, will do nothing to halt speculation by government-backed banks using small depositors’ money.

The JPMorgan scandal also throws into relief the government’s failure to prosecute those responsible for the 2008 financial meltdown. Despite overwhelming evidence of wrongdoing and criminality uncovered by two federal investigations last year, those responsible have been shielded from prosecution.

When Iowa Senator Charles Grassley submitted a letter to the Justice Department earlier this year asking how many bank executives had been prosecuted in response to the financial crisis, the Justice Department replied it did not know because it was not keeping a list.

According to a study by Syracuse University, however, federal financial fraud prosecutions have fallen to 20-year lows under the Obama administration, and are down 39 percent since 2003. Under Obama, the number of financial fraud cases has fallen to one-third the level of the Clinton administration.

These facts demonstrate the de facto dictatorship exercised by the financial aristocracy over the entire political system and both major parties. The Obama administration, in particular, is an instrument of the most powerful financial institutions. It has focused its efforts on protecting and increasing the wealth of the privileged elite while utilizing the crisis to permanently slash the wages and living standards of the working class.

For much of Obama’s tenure, Jamie Dimon was known as the White House’s “favorite banker.” According to White House logs, Dimon visited the White House at least 18 times, often to talk to his former subordinate at JPMorgan, William Daley, who had been named White House chief of staff by Obama after the Democratic rout in the 2010 elections.

The incestuous and corrupt relations between Wall Street, the Obama administration and the entire political system underscore the necessity for the working class to build its own mass socialist movement to fight for its interests in opposition to the ruling elite.

The bankers responsible for the financial crisis, including Dimon and his co-conspirators, must be held criminally liable for their lawlessness and held accountable for the social suffering that has resulted from their actions. The ill-gotten trillions accumulated by the banks must be expropriated, with full protection for small depositors and small businesses, and used to provide decent jobs, housing, health care and education for all.

There is no way to rein in the banks and end their socially destructive activities within the framework of the capitalist system. The only way to stop the fraud and parasitism that go on every day on Wall Street is to nationalize the banks and run them as democratically controlled public utilities.

Andre Damon and Barry Grey

FACT: JP MORGAN IS ONE OF BANKSTER-BOUGHT OBAMA’S BIGGEST PAYMASTERS! HE’S PROMISED THEM NO PRISON TIME AND NO REAL REGULATION.

THERE IS A REASON WHY THE BANKSTERS INVESTED HEAVILY IN OBAMA’S CORRUPT ADMINISTRATION!

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).

Obama: JPMorgan Is 'One of the Best-Managed Banks'

By Mary Bruce | ABC OTUS News – 2 hrs 31 mins ago

Obama: JPMorgan Is 'One of the …

Lou Rocco / ABC News

Just hours after a top JPMorgan Chase executive retired in the wake of a stunning $2 billion trading loss, President Obama told the hosts of ABC's "The View" that the bank's risky bets exemplified the need for Wall Street reform.

"JPMorgan is one of the best managed banks there is. Jamie Dimon, the head of it, is one of the smartest bankers we got and they still lost $2 billion and counting," the president said. "We don't know all the details. It's going to be investigated, but this is why we passed Wall Street reform."

The full interview airs on "The View" Tuesday on ABC at 11 a.m. ET

While a powerhouse like JPMorgan might be able to weather an error that the bank's own CEO called "egregious," the president questioned what might happen to smaller institutions in similar situations.

"This is one of the best managed banks. You could have a bank that isn't as strong, isn't as profitable managing those same bets and we might have had to step in," he said. "That's why Wall Street reform is so important."

While touting his efforts to rein in the Wall Street behavior that led to the massive taxpayer bailout of the banks following the financial crisis, he noted his administration is still fighting for tough reform.

Pivoting to November, the president said Wall Street reform is one of the many critical areas where he and his Republican challenger, presumptive GOP nominee Mitt Romney, have a different vision for the future.

The president's full interview airs Tuesday on "The View." Tune into "World News with Diane Sawyer" tonight for more.

Nicole Gelinas
It’s Not About Jamie Dimon
We should look to markets, not men, to govern the economy.
14 May 2012

On Meet the Press yesterday, JPMorgan Chase chief Jamie Dimon epitomized what’s wrong with America’s approach to the financial crisis. The American media and political elite remain obsessed with personalities, looking for heroes and villains instead of focusing on what we really need: the dispassionate rule of law that would allow free markets to flourish. Meet the Press is for politicians, and Dimon performed like a model one. He spoke in short sentences and apologized directly: “I was dead wrong,” he offered, for having made a “terrible, egregious mistake.” Specifically, last Thursday, JPMorgan announced a $2 billion trading loss on a derivatives bet.

Theoretically, anyway, such a loss should be a matter between the bank and investors, not TV fodder. Yet Dimon’s business—too-big-to-fail banking—is no ordinary business. Washington’s willingness to subsidize failure means that Dimon’s job is as much political risk management as financial risk management. Because JPMorgan depends on Uncle Sam’s backing, one of Dimon’s key constituencies is politicians and government regulators. And one way to charm regulators—and the voters who elect the politicians—is through a killer interview.

In October 2008, the Bush administration, not normally a fan of government expropriation, forced nine big banks, including Dimon’s, to accept $125 billion in TARP money. The banks were deemed so important that they had to take the money to protect them against failure, whether they wanted it or not. Since then, the banks and the government have stayed bound together. President Obama’s Dodd-Frank financial reform law, enacted two summers ago, has tied the two sides closer still. The problems that led to the financial crisis, remember, included investors’ perception—honed over two decades of smaller-scale bailouts—that big banks were too big to fail. Dodd-Frank has given such banks an official title: “systemically important financial institutions.”

Another problem that led to the financial crisis was that, over the years, politicians and regulators determined that banks had become so good at risk management that they no longer needed to abide by consistent rules—fixed limits on borrowing, for example, so that banks could fail without leaving behind so much unpaid debt that they endangered the economy. Instead, banks could largely do what their executives wanted, as long as regulators believed, on a case-by-case basis, that they knew what they were doing.

In the aftermath of the JPMorgan mess, politicians and reporters have been invoking the Dodd-Frank law’s “Volcker Rule.” Named after Paul Volcker, the Federal Reserve chairman from the Carter and Reagan eras, the rule prohibits banks whose customers benefit from taxpayer-backed deposit insurance from engaging in “proprietary trading,” or speculation. But the Volcker Rule isn’t a rule at all: it prohibits behavior that has no set definition. Twenty-two months after Dodd-Frank became law, regulators have delayed enforcing the rule because they still cannot figure out what proprietary trading really is. Consider how JPMorgan lost all that money: creating derivatives that let it sell billions of dollars’ worth of protection against the risk that some corporate securities would default. That sure doesn’t sound like a good idea. Banks, because they’re lenders, are already at risk if people and companies default in droves.

But does selling such synthetic “insurance” constitute proprietary trading? Michigan Senator Carl Levin, who helped draft the Volcker Rule language, says it does. Bank officials have argued that such behavior is hedging, which would be okay under Dodd-Frank.

Real rules could govern Wall Street, but politicians must give regulators the backing to create and enforce them. Rather than worry about the Volcker Rule, politicians and reporters should be focusing on derivatives rules. One reason that Washington had to bail out the financial system four years ago was that financial firms such as AIG had taken on virtually infinite risk through the derivatives markets. Through derivatives, AIG could “sell” protection against other companies’ defaults with almost no cash down. Lo and behold, that’s what JPMorgan Chase was doing, too. Regulators should demand that traders—whether big banks or tiny hedge funds—put a set amount of cash down behind such bets, curtailing the amount of potential unpaid debt in the financial system. Regulators should also require that traders execute such transactions on open clearinghouses and exchanges—so that markets can determine which bets are going well and which aren’t, and clearinghouses can demand more money from traders to cover their losses. Such rules empower market signals, not regulatory micromanagement, to control risk. If such rules were in place, it’s unlikely Dimon would have visited the White House 18 times in three years, as he would have had no way to manipulate a restriction that, after all, applied to everyone.

The best way to stop bailouts is to limit borrowing and demand transparency. When markets know that financial firms have put a cash cushion behind their bets—and where the risk behind such bets lies—they’re unlikely to pull their money out of the financial system en masse, necessitating a government rescue. The Volcker Rule, by contrast, adds no such protection against future taxpayer rescues; all it does is unleash regulators to debate, in private, the definitions of risk.

Dodd-Frank gave regulators the authority to impose real rules on derivatives, and the regulators have done so. But lobbyists demanded and secured exceptions, which could eventually prove the rule. With such loophole-ridden reform, America has hardly set a good example for Europe, which lags even further behind in enacting derivatives rules. In fact, JPMorgan Chase may have executed the derivatives deals from London because the bank perceived London as a looser environment. Moving this activity around the world so that financiers can play inconsistent rules against one another does nothing to help the struggling Western economies.

The media and the politicians, however, would rather discuss people than arcane issues like financial rules. Look at how politely—almost obsequiously—NBC’s David Gregory treated Dimon. Gregory asked Dimon: “Here you are, Jamie Dimon, you’ve got a sterling reputation. . . . How does a guy like you make this mistake? If this happened at JPMorgan Chase . . . what about all the other banks out there? If somebody else made a mistake like this, would we be again talking about too big to fail and taxpayer bailouts?” Then, when asking delicate questions about potential criminal liability, Gregory unconsciously switched from “you” to “the bank.” Lowly regulators will hardly be more willing to take on Dimon and his colleagues.

Focusing on one man represents bailout thinking. Policymakers continue to be distracted from the rules needed to protect the economy from the consequences—including corporate failure—of the bad decisions that individuals can make. Nearly four years after the financial crisis began, Washington seems to have learned almost nothing.


 NO PRESIDENT IN HISTORY HAS TAKEN MORE LOOT FROM CRIMINAL BANKSTER DONORS THAN OBAMA. HE PROMISED HIS BANKSTERS NO CRIMINAL PROSECUTION, AND NO REAL REGULATION.


PROFITS FOR BANKSTERS HAVE SOARED UNDER OBAMA, JUST AS FORECLOSURES HAVE. DURING HIS FIRST 2 YEARS THE BANKSTERS MADE MORE LOOT THAN ALL 8 UNDER BUSH!

WHAT DOES THAT TELL YOU?

 
"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."

 
Shaping up to be the most corrupt
administration in American history:

  • Obama’s team: Not the “best of the Washington insiders,” as the liberal media style them, but rather, a dysfunctional and dangerous conglomerate of business-as-usual cronies and hacks
  • In the first two weeks alone of his infant administration, Obama had made no fewer than 17 exceptions to his “no-lobbyist” rule
  • Why the fact that the massive infusion of union dues into his campaign treasury didn’t trouble him in the least reveals Obama’s credibility as a reformer
  • The lack of unprecedented pace of withdrawals and botched appointments -- and how getting through the confirmation process was no guarantee of ethical cleanliness or competence, even as Obama’s cheerleaders were glorifying the Greatest Transition in World History
  • Inconsistency: How Obama, erstwhile critic of the campaign finance practice known as “bundling,” happily accepted more than $350,000 in bundled contributions from billionaire hedge-fund managers
  • How Obama broke his transparency pledge with the very first bill he signed into law -- helping make hostility to transparency is a running thread through Obama’s cabinet
  • Michelle Obama: Beneath the cultured pearls, sleeveless designer dresses, and eyelashes applied by her full-time makeup artist, is a hardball Chicago politico
  • Joe Biden: It’s not just that he lies, it’s that he lies so well that you think he really believes the stuff he makes up
  • Treasury Secretary Geithner: His ineptness and epic blundering -- including how he nearly caused the collapse of the dollar in international trade with a single remark
  • The appalling story of Technology Czar Vivek Kundra, the convicted shoplifter in charge of the entire federal government’s information security infrastructure
  • Obama’s “Porker of the Month” Transportation Secretary, Roy LaHood: An earmark-addicted influence peddler born and raised on the politics of pay-to-play
  • SEIU: Responsible for installing a cabal of hand-chosen officers who exploited their cash-infused fiefdoms for personal gain and presided over rigged elections -- in the process, becoming all that they had professed to stand against as representatives of the downtrodden worker
  • How Obama lied on his “Fight the Smears” campaign website when he claimed that he “never organized with ACORN”
  • ACORN: How the profound threat the group poses is not merely ideological or economic -- it’s electoral
  • ACORN’s own internal review of shady money transfers among its web of affiliates: How it underscores concerns that conservatives have long raised about the organization
  • Liar, liar, pantsuit on fire: How Hillary Clinton has already trampled upon her promise not to let her husband’s financial dealings sway her decisions as Secretary of State
  • How even a few principled progressives are finally beginning to question the cult of Obama -- even as Obama sycophants in the mainstream media continue to celebrate his “hipness” and “swagga”
GET THIS BOOK!

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.

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.

*
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 Guideto 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


President Obama's Crony Cocaine-

addicted Criminal Banksters and the

Mexican Drug Cartels... DO THEY ALL

BENEFIT FROM OBAMA'S SABOTAGE

OF BORDER SECURITY?


                                                                                                                 
more at this link – post on your Facebook and email broadcast

http://mexicanoccupation.blogspot.com/2013/08/president-obamas-crony-cocaine-addicted.html

 Did cocaine use by bankers cause the global financial crisis?

Coked-up bankers caused the credit crunch, according to the former drug tsar David Nutt. One former City worker can well believe it