Saturday, March 25, 2017


Inconvenient Truth - Obama devastated Black owned Banks

Obama devastated Black owned Banks

uary 17, 2017. (ONN) Republicans argue that Democratic Party policies, especially those of the Barack Obama administration, have devastated the black community in America. But one rarely mentioned example is the devastating effect the Obama administration had on black-owned banks in the US. From 2008-2016, they failed at a greater rate than at any other time in modern history, and in greater proportion than the rest of the banking industry.

But you’ll never hear that on your TV set or even from other black-owned businesses. Take an article published last month by, which bills itself as ‘a total revolution of the black college experience.’ Their site was at the top of the results of a Google search for the number of black-owned banks in the US by year. The only problem is that their numbers are completely false.
By the numbers
The website claims there are 38 black-owned banks in America today. But a story two weeks ago in the Chicago Sun Times puts that number at a mere 24. claims there are only 23. And industry experts warn that number will fall to just 4 by 2028. Consider that in 1986, during the heart of a 12-year Republican reign, there were 44 black-owned banks in America. By 2007, the year Barack Obama was elected President, the number had dropped slightly to 41.
By the end of Barack Obama’s 8-year Presidency, the number of black-owned banks shrunk to just 23. That’s a 44 percent plunge. Some may wish to blame it on the great recession. But during the same time period, US banks overall fell from 7,100 to 5,100 - a drop of just 28 percent.
Failed policies
Anyone who follows financial news knows what America’s small bankers think of Barack Obama. For eight years, they complained that only the largest dozen or so banks received the trillion-dollar government bailout while the other 99.9 percent of the country’s banks were left to fend for themselves, causing nearly a third of them to go bankrupt.
Another example was the Obama administration’s policies of ‘too big to fail’ and ‘too big to jail’. While thousands of small town banks went bankrupt and countless small town bankers were jailed for corruption or incompetence over those eight years, not a single Wall Street bank was allowed to fail and not a single banker from the nation’s largest banks went to prison.

Biggest crime in history
Consider another example that is blacked-out by the American news industry - the greatest crime in history. In 2013, the Obama Justice Department settled with a handful of the country’s largest banks including Wells Fargo, Bank of America, JP Morgan Chase and Citigroup. The banks had wrongly foreclosed on and taken possession of the homes of over 4 million American families. The homeowners owed no money and had no mortgages or ties to the banks that stole their homes with the help of local Sheriff’s Departments across the country.
First, the Obama administration capped the number of victims its Justice Department would represent at 4 million, meaning an unknown number of Americans were out of luck all together. The 4 million proven victims didn’t fare much better however. The Justice Dept forced the banks to pay back an average of $500 per family. That’s it.
Four million American families lost their homes for no reason other than theft and instead of forcing the banks to give back the houses or reimburse the victims for the full amount stolen, the Obama Justice Dept ordered the banks to pay back just $3.6 billion to the victims. The banks were allowed to keep the homes and an estimated $200 billion in stolen property.
For more information on the greatest crime in history, read the 2013 Whiteout Press articles ‘Banks robbing Wrong Houses still above the Law’ and ‘Government still letting Corrupt Corporations steal Homes’.
Small town banks, and black-owned banks specifically, were not so lucky under the Obama administration. Unlike the giant Wall Street banks, they didn’t receive a penny of the trillion-dollar bank bailout and they weren’t given a license to steal. They simply don’t have the same mutually beneficial relationship with the leaders of both major political parties that the Wall Street titans have. The lesson of the Obama years - the smaller your bank or business, the less the establishment cares about you.
As a closing thought, consider these two facts: not a single black-owned US bank has $1 billion in assets and it would take 45,000 black-owned banks to equal the size of Wells Fargo.

$700 Billion Bank Bailout was Secretly $7 Trillion

By Mark Wachtler
November 30, 2011. Washington. (ONN) In 2008, President Bush, Secretary Paulson and Chairman Bernanke crafted a bank bailout program they termed TARP or the Toxic Asset Relief Program. It was created in the middle of the night, over a weekend, because if they didn’t act by Monday they said, there wouldn’t be an America anymore. With confusion and fear in his eyes, President Bush handed the reins of power to the former CEO of Goldman Sachs. And instead of limiting himself to the $700 billion Congress grudgingly approved, Hank Paulson printed $7 trillion dollars, funneled it through the Federal Reserve and handed it over to the world’s biggest banks with no strings attached and in total secrecy.
Hank Paulson, former Goldman Sachs CEO and architect of the bank bailouts
While watching Whiteout Press’ favorite morning business show, 'In Business with Margaret Brennan' on Bloomberg TV, the show was interrupted by a startling announcement. Bloomberg investigators had uncovered details that the most powerful men in Washington and New York were desperate to keep secret. In fact, Bloomberg had to sue the Federal government for access to the events of 2009 and 2010 regarding the US bank bailout. The Federal Reserve however, insisted all details of the largest bank bailout in the history of the world had to be kept completely secret from the American people.
The government fought releasing the secret details all the way the US Supreme Court. Earlier this year, Bloomberg won their lawsuit. Treasury and the FED weren’t going to surrender to the American people that easy however. The FED turned over 29,000 documents and details of 21,000 transactions made during the time period covered by TARP and the nation’s bank bailout. Attempting to handcuff Bloomberg investigators with an avalanche of documentation, imagine their surprise when Margaret Brennan’s show was interrupted yesterday with the unbelievable news that the bank bailout American’s were led to believe was only $700 billion, was actually $7.77 trillion. According to the NY Fed, the total amount of US currency in circulation in the entire world at the time was only $829 billion.
While the events are difficult to follow for anyone who’s not familiar with the strange way America’s banking and economic system works, not to mention all the government and Wall Street secrecy, here’s a novice’s view of what happened during the panicked early days of America’s economic collapse. When the $700 billion bank bailout authorized by Congress wasn’t going to be anywhere near enough to save banks like Goldman Sachs, JP Morgan, Citigroup and Bank of America, Ben Bernanke and the FED opened up the nation’s discount borrowing window – to the tune of $7.77 trillion dollars.

Republican Presidential candidate Ron Paul (R-TX) could do a much better job of explaining the almost criminal nature of the FED than this Whiteout Press author ever could. With his pledge to abolish the FED, Rep Paul might explain – imagine you Joe Citizen walk into your city hall and ask for a $10 billion dollar loan at zero percent interest. They give you, and only you, that loan because you’re ‘special’. You then loan that $10 billion out to others at 5, 10 or 20 percent yearly interest for things like homes, which are guaranteed by the taxpayers, so there’s no risk of nonpayment. When that $15 or $20 billion is paid back to you, you pay back the FED the original $10 billion and keep the rest.
Instead of loaning that $7.77 trillion to the American people as the American government intended, banks throughout the world took advantage of the US taxpayer and used that money to secretly cover massive losses the banks were suffering from their stupidly investing in their own worthless financial instruments – instruments the banks knew were worthless and doomed to fail. Like a modern day shell game, trillions of dollars floated from one banking institution to another, appearing to fill all balance sheet holes everywhere. Not all the banks used the money to fill holes however. Some used it to make massive profits.
The Bloomberg reporting revealed banks like Barclays, Banco Santander and BNP Parabas made a fortune on the US taxpayer program. Barclays turned their money into a $26.7 billion profit. Banco Santander profited $29.2 billion and BNP Parabas made $17.1 billion.
They weren’t alone. According to Bloomberg’s data, 97 different financial institutions around the globe turned their ‘discount window’ into profits during the two years of the financial crisis. The most suspicious part – the US government insisted on keeping every single transaction a secret. In one day alone at the end of 2008, the Federal Reserve gave out $1.2 trillion dollars to banks – the most on any day before or since.
For those who remember, Bank of America was accused of using its funds not to bailout underwater homeowners, but instead to purchase a bank in China. Bank of America made a profit of $14.2 billion using their ‘special’ discount borrowing privilege. Bank of America wasn’t the only player in the middle of the US financial collapse that made massive profits off the US taxpayer. Wells Fargo made $12.1 billion. JP Morgan made $13.8 billion, Goldman Sachs made $12.7 billion, American Express made $1.4 billion, Discover made $1.4 billion, US Bancorp profited $7.2 billion, HSBC made $11.6 billion, PNC Financial $1.4 billion, Lloyds made $9.6 billion and the list goes on and on.
Not all the banks that made massive profits off the US taxpayers during the peak of the financial crisis were well-known American brands. Foreign banks also made billions in profits, including the National Australia Bank, Bank of Toronto, Mitsubishi, Skandinavista, Chang Hwa, the Israel Discount Bank and dozens more.

Not all banks used the US taxpayers to make billions in extra profits. Some banks tried, and lost.
Among the banks that lost money on the secret loan program were Citigroup, losing $29.3 billion, Royal Bank of Scotland lost $45.3 billion, Credit Suisse lost $4.1 billion, Deutsche Bank lost $433 million, Fifth Third lost $1 billion, Wachovia lost $31.6 billion, Merrill Lynch lost $35.9 billion, Arab Banking lost $77 million, Allied Irish Banks lost $3.4 billion, Morgan Stanley lost $3 billion, Industrial Bank of Korea lost $559 million and the list goes on and on.
Readers can take their pick regarding which aspect of this story to be most angry about. Some will be outraged that for-profit banks are taking advantage of the US taxpayer and making billions in free money. Others will be angry that based on the above list, it appears the US taxpayer is also guaranteeing the profits of foreign banks all over the world. And some will be outraged by the fact that the entire story was kept secret from not only the American people, but also their representative in Congress and even officials at the FED.
Bloomberg asked one longtime critic of giant banks, Rep. Sherrod Brown (D-OH), to comment. “When you see the dollars the banks got, it’s hard to make the case these were successful institutions,” she says, “This is an issue that can unite the Tea Party and Occupy Wall Street. There are lawmakers in both parties who would change their votes now.”
Bloomberg also quotes other individuals who should have been aware of what was going on, but weren’t. Gary H. Stern, Minneapolis FED Chairman at the time, insists he, “wasn’t aware of the magnitude.” Rep. Brad Miller (D-NC), member of the House Financial Services Committee, says, “TARP at least had some strings attached. With the Fed programs, there was nothing.”
Misleading Shareholders
With hindsight being 20/20, Bloomberg looked at some of the biggest emergency borrowers and compared their financial situation with the outlook and forecasts made by the bank’s CEO’s to their shareholders. One such example is Ken Lewis, CEO of Bank of America. On November 26, 2008 he informed shareholders that BofA was, “one of the strongest and most stable major banks in the world.” We’ll let you the reader decide - Bank of America owed the US government a staggering $86 billion on that day.

Another example is JP Morgan Chase’s CEO Jamie Dimon. On March 26, 2010, he reassured his shareholders that JP Morgan didn’t need a bailout and only participated in the program in the beginning, “at the request of the Federal Reserve to help motivate others to use the system.” In reality, JP Morgan was still taking advantage of the emergency program and owed the US government $48 billion dollars more than a year after the program began.
As far as the American people go, the two Representatives of theirs in Congress that should have been made aware of what was going on, weren’t. Both the Republican and Democratic overseers of the massive bank bailout, Rep. Judd Gregg (R-NH) and Rep. Barney Frank (D-MA), both confirmed to Bloomberg they were kept in the dark.
“We were aware emergency efforts were going on” Frank said, “We didn’t know the specifics.” Congressman Frank announced his retirement earlier this week. Rep. Judd Gregg simply responded, “We didn’t know the specifics.” Former Congressman Judd Gregg is now employed by Goldman Sachs.
What’s Changed
Most Americans couldn’t explain how banks function or how the bank bailout worked if their lives depended on it. But most assume the US taxpayer loaned billions to banks to save the industry and avoid economic collapse, rampant unemployment and a housing crash. But if one were to take a step back and look at the new landscape, a new picture emerges of what the bank bailout was really about. In the five years from before the crisis in 2006 to after the crisis in 2011, the six largest US banks increased their assets, or money and property they own, from $6.8 trillion dollars to $9.5 trillion.

Dallas Federal Reserve President Richard Fisher summed up the thoughts of many when he called that fact, “un-American”. For more information about the US economic collapse, read the Whiteout Press Special Report, ‘What Caused America’s Economic Collapse’. Special thanks to Bloomberg Marketplace for their detailed reporting.

List of Goldman Sachs employees in the White House

December 4, 2012. Washington. At best, it’s considered a revolving door for powerful individuals between Wall Street and the White House. At worst, it’s an economic coup that has been successful in infiltrating and subverting the United States federal government. What is it? The multi-national global banking syndicate known as Goldman Sachs. And more and more, its employees and the federal government’s employees are becoming one and the same.
In this Raymond Balze painting from the 1850's, Jesus chistises the 'money changers' in the Temple, and by doing so, a major tenent in the Christian faith is born.
Goldman Sachs and the White House
The following list was compiled by and published in May 2012. With a new Obama administration taking control after the first of the year, the below names will change somewhat. Many of the current White House staff and paid advisers will go back to their Wall Street firms, such as Goldman Sachs. While new Wall Street power players, many of the same individuals from previous Presidential administrations, will take their place.

What follows is a list of Goldman Sachs employees and paid agents who have moved over to positions in the Barack Obama White House. The second list below includes many additional Goldman Sachs employees who were hired by the Bush administration and were hold-overs into President Obama’s first term. The third and final list reflects the Goldman Sachs individuals who have moved on to positions at other global or foreign governments and institutions.
The Money Lenders
As we can see, and federal and state election disclosures confirm, Goldman Sachs has little or no loyalty to either the Republicans or the Democrats. The global bank is a major partner in administrations from both parties, contributes to both parties, and some would argue, controls both parties. This battle between the citizens of a country against the self-serving power and influence of the global banking cartel is not new. In fact, it’s been going on since Biblical times when Christianity banned ‘usury’ – the charging of interest on loans or debts.
For a detailed and historical recap, read the Whiteout Press Special Report, ‘The Illuminati’.
The following two historical quotes sum up the eternal struggle that still goes on today:
“Let me issue and control a nation’s money and I care not who writes the laws.” – Mayer Amschel Rothschild, 1790.
“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” – James Madison, 4th President of the United States.
Showing that this eternal struggle - between those cursed with a sickness of unquenchable greed versus those they prey upon – is alive and well even today, the following list presents many of today’s individuals who’ve left their multi-million dollar positions at Goldman Sachs to take a powerful and influential roll inside the White House.
Naming Names – The List
*Note: A number of the below names reference 'The Hamilton Project', a Brookings Institute owned political and policy think tank and advisory organization.
From (May, 2012), listed in alphabetical order:

Goldman Sachs Personnel in the Barack Obama White House

Lael Brainard: Brainard is the United States Under Secretary of the Treasury for International Affairs in the administration of Obama.
Gregory Craig: Former White House Counsel, Recently hired by Goldman Sachs.
Thomas Donilon: Deputy National Security Adviser (despite having a career that is mostly involved with domestic politics). Donilon was a lawyer at O’Melveny and Myers and made almost $4 million representing meltdown clients including Penny Pritzker (of Chicago) and Goldman Sachs.
William C. Dudley: President and Chief Executive Officer of the Federal Reserve Bank of New York, partner and managing director at Goldman Sachs and was the firm’s chief U.S. economist for a decade.
Douglas Elmendorf: Obama Director of the Congressional Budget Office in January 2009, replaced Furman as Director of the Hamilton Project (Note that the Hamilton Project was funded by Robert Rubin and Goldman Sachs).

Rahm Emanuel: Obama Chief of Staff, on the payroll of Goldman Sachs receiving $3,000 per month from the firm to “introduce us to people", in the words of one Goldman Sachs partner at the time.
Dianna Farrell: Obama Administration: Deputy Director, National Economic Council. Former Goldman Sachs Title: Financial Analyst.
Stephen Friedman: Obama Administration: Chairman, President’s Foreign Intelligence Advisory Board. Former Goldman Sachs Title: Board Member (Chairman 1990-94; Director 2005).
Michael Frohman: Robert Rubin’s Chief of Staff while Rubin served as Secretary of the Treasury and an Obama “head hunter” according to “Rubin Proteges Change Their Tune as They Join Obama’s Team” in the New York Times.
Anne Fudge: Appointed to Obama budget deficit reduction committee. Fudge has been the PR craftsman for some of America’s largest corporations. She sits, according to the Washington Post, as a Trustee of the Brookings Institution within which the Hamilton Project is embedded.
Jason Furman: Directed economic policy for the Obama Presidential Campaign, served as the second Director of the Hamilton Project after Peter Orszag’s departure for the Obama administration.
Mark Gallogly: Sits on the Hamilton Project’s advisory council. He is also, according to Wikipedia, currently a member of President Obama’s Economic Recovery Advisory Board.
Timothy Geithner: Secretary of the Treasury, former President of the New York Fed. a former managing director of Goldman Sachs.
Gary Gensler: Obama Administration: Commissioner of the Commodity Futures Trading Commission. Former Goldman Sachs Title: Partner and Co-head of Finance.
Michael Greenstone: The 4th Director of the Hamilton Project. Just as attorney Craig went from advising Obama to defending Goldman Sachs against the SEC complaint, Greenstone has used the revolving door to go from an Obama economic adviser position to one of the Goldman Sachs outlets - in this case its think tank embedded in the Brookings Institution and funded by Goldman Sachs and Robert Rubin. All 3 previous Directors of the Hamilton Project work in the Obama administration.
Robert Hormats: Obama Administration: Undersecretary for Economic, Energy and Agricultural Affairs, State Department. Former Goldman Sachs Title: Vice Chairman, Goldman Sachs Group.
Neel Kashkari: Served under Treasury Secretary Paulson (a former Goldman Sachs CEO) and was kept on by Obama after his inauguration for a limited period to work on TARP oversight. Former Vice President of Goldman Sachs in San Francisco where he led Goldman’s Information Technology Security Investment Banking practice.
Karen Kornbluh: (Sometimes called "Obama’s brain") Obama Ambassador to the OECD. Was Deputy Chief of Staff to 'Mr. Goldman Sachs', Robert Rubin.
Jacob "Jack" Lew: The United States Deputy Secretary of State for Management and Resources. According to Wikipedia, Lew sits on the Brookings-Rubin funded Hamilton Project Advisory Board. He also served with Robert Rubin in Bill Clinton’s cabinet as Director of OMB.

David Lipton: Now on Obama’s National Economic Council and the National Security Council. Lipton worked with Larry Summers and Timothy Geithner on the US response to the Asian financial crisis of the 1990’s. MergeFoundations reports that Lipton worked closely with Robert Rubin.
Emil Michael: White House Fellow. Former investment banker with Goldman Sachs.
Philip Murphy: Obama Administration: Ambassador to Germany. Former Goldman Sachs Title: Head of Goldman Sachs, Frankfurt.
Barack Obama: Obama owes his career to Goldman Sachs which was not only his biggest financial contributor when he ran for the Presidency, but was also his biggest contributor when he ran for the US Senate.
Peter Orszag: Obama Budget Director. Founding director of the Hamilton Project, funded by Goldman Sachs and Robert Rubin. Wikipedia indicates that Robert Rubin, Goldman’s ex-CEO, was one of Orszag’s mentors.
Mark Patterson: Obama Administration: Chief of Staff to Treasury Secretary Timothy Geitner. Former Goldman Sachs Title: Lobbyist 2005-2008; Vice President for Government Relations.
Mark Peterson: Chief of staff to Timothy Geithner. Goldman Sachs Vice President and lobbyist.
Steve Ratner: The shady billionaire financier who Obama appointed as his “car czar” and who resigned after it was revealed that his company, the Quadrangle Group, was apparently involved in “pay to play” for a billion dollars or so of New York State pension funds, and was under possible indictment by the New York AG and the SEC. Sits on the Advisory Council of the Goldman funded Hamilton Project.
Robert Reischauer: A member of the Medicare Payment Advisory Commission from 2000-2009 and was its Vice Chair from 2001-2008. He too sits on the Hamilton Project’s advisory board.
Alice Rivlin: Obama named Alice Rivlin to his so-called Deficit Reduction Commission.
James Rubin: Son of Robert Rubin. Served as a 'headhunter' for Obama per the New York Times article, "Rubin Proteges Change Their Tune as They Join Obama’s Team".
Gene Sperling: Advisor to Timothy Geithner on bailouts. Sperling paid by Goldman Sachs for one year of consulting work.

Adam Storch: Obama Managing Executive of the Security and Exchange Commission’s Division of Enforcement. Former Vice President in the Goldman Sachs Business Intelligence Group.
Larry Summers: Obama chief economic adviser and head of the National Economic Counsel. Worked under Robert Rubin at Goldman Sachs.
John Thain: Obama Administration: Advisor to Treasury Secretary Timothy Geithner. Former Goldman Sachs Title: President and Chief Operating Officer (1999-2003).

Goldman Sachs personnel in the George W. Bush White House

Joshua Bolten: Bush II Administration: White House Chief of Staff (2006 – 2009). Former Goldman Sachs Title: Executive Director, Legal & Government Affairs (1994-1999).
William C Dudley: NY Federal Reserve: Current President/CEO. Former Goldman Sachs Title: Partner and Managing Director – 2007.
Edward C. Forst: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs Title: Co-head of Goldman’s investment management business.
Stephen Friedman: NY Federal Reserve: Former Chairman of the Board – 2009. Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director 2005-).
Gary Gensler: Bush II Administration: Undersecretary of the Treasury (1999-2001) and Assistant Secretary, Treasury (1997-1999). Former Goldman Sachs Title: Partner and Co-head of Finance.
Reuben Jeffery III: Bush II Administration: Under Secretary for Economic, Energy and Agricultural Affairs, State Department (2007–2009). Former Goldman Sachs Title: Managing Partner, Paris until 2002 Security Investment Banking Practice.
Dan Jester: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs Title: Deputy CFO.
Neel Kashkari: Bush II Administration: Assistant Secretary for Financial Stability, Treasury (2008 – 2009). Former Goldman Sachs Title: Vice President, Goldman Sachs San Francisco; led Information Technology Security Investment Banking Practice.
Eric Mindich: Former chief strategy officer of New York-based Goldman Sachs. Started Eton Park in 2004 with $3.5 billion.
Henry Paulson: Bush II Administration: Secretary of the Treasury 2006 - 2009. Former Goldman Sachs Title: Chairman and CEO (1998-2006).
Robert Rubin: Bush II Administration: Secretary of the Treasury 1995-1999. Former Goldman Sachs Title: Vice Chairman (1987-1990).

"The news shouldn't be left wing or right wing, conservative or liberal. It should be the news. It should be independent" - Mark Wachtler, Whiteout Press founder

Robert Steel: Bush II Administration: Under Secretary for Domestic Finance, Treasury (2006 – 2008). Former Goldman Sachs Title: Vice Chairman – 2004.
Steve Shafran: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs private equity business in Asia until 2000.
Kendrick R. Wilson III: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs Title: Chairman of Goldman’s financial institutions groups.
Robert Zoellick: Bush II Administration: United States Trade Representative (2001-2005), Deputy Secretary of State (2005-2006), World Bank President (2007 -). Former Goldman Sachs Title: Vice Chairman, International (2006-07).

Other Noteworthy Global Appointees

Mark Carney: Current Title: Governor, Bank of Canada. Former Goldman Sachs Title: Managing Director Goldman Sachs Canada until 2003.
Mario Draghi: Current Title: Governor of the Bank of Italy (2006- ). Former Goldman Sachs Title: European Deputy Chairman/Partner until 2006.
Edward Liddy: Current Title: AIG CEO. Former Goldman Sachs Title: Board Member (Chairman 1990-94; Director 2005- ).
Duncan Niederauer: Current Title: Chair/CEO NYSE. Former Goldman Sachs Title: Managing Director – 2007.
Romano Prodi: Current Title: Prime Minister of Italy (1996-1998 and 2006-2008) and President of the European Commission (1999-2004). Former Goldman Sachs Title: Paid adviser/consultant 1990 – 1993.
Massimo Tononi: Current Title: Italian Deputy Treasury Chief (2006-2008). Former Goldman Sachs Title: Partner 2004 – 2006.
Malcolm Turnbull: Current Title: Federal Leader, Liberal Party of Australia. Former Goldman Sachs Title: Partner (1998-2001).
David Watson: Current Title: Monetary Policy Committee, Bank of England. Former Goldman Sachs Title: Chief European economist.
The above list of names and their descriptions is reprinted in its entirety from
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Wikileaks exposes Obama’s bankster-infested



BARACK OBAMA …… the banksters’ RENT BOY!
 “Citigroup’s recommendations came just three days after then-President George W. Bush signed into law the Troubled Asset Relief Program, which allocated $700 billion in taxpayer money to rescue the largest Wall Street banks. The single biggest beneficiary was Citigroup, which was given $45 billion in cash in the form of a government stock  purchase, plus a $306 billion government guarantee to back up its worthless mortgage-related assets.”


“As president, Obama not only funneled trillions of dollars to the banks, he saw to it that not a single leading Wall Street executive faced prosecution for  the orgy of speculation and swindling that led to the financial collapse and Great Recession, and he personally intervened to block legislation capping  executive pay at bailed-out firms.”

“So when Clinton was hobnobbing with  Goldman Sachs CEO Blankfein in 2013, while  investigations of wrongdoing by Goldman and the other Wall Street banks were still ongoing, she was consorting with a man who belonged in prison.”



And while the Obama administration worked systematically to bail out the banks and make the financial oligarchy richer than ever, shielding the architects of the Great Recession from criminal prosecution, it did impose fines for some of the banks’ grossest swindles, including the sale of worthless subprime mortgage-backed securities, the rigging of key global interest rates such as the London Interbank Offered Rate (Libor), drug money laundering, illegal home foreclosures and other illicit activities.



There’s more than one way to destroy America’s white middle class!

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And while the Obama administration worked systematically to bail out the banks and make the financial oligarchy richer than ever, shielding the architects of the Great Recession from criminal prosecution, it did impose fines for some of the banks’ grossest swindles, including the sale of worthless subprime mortgage-backed securities, the rigging of key global interest rates such as the London Interbank Offered Rate (Libor), drug money laundering, illegal home foreclosures and other illicit activities.

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