Friday, June 8, 2012

Enrique Pena Nieto - ONE MORE MEXICAN SLUT - HE JUST HAPPENS TO BE RUNNING FOR THE PRESIDENCY of NARCOMEX

THE CASE of the MEXICAN MALE SLUT:


Posted: 07 Jun 2012 03:07 PM PDT

Mexican politicians do not need to be faithful husbands and good family men.
That point was reiterated this week with a billboard in central Mexico City that shows the image of Enrique Pena Nieto, the frontrunner to become Mexico’s next president.

The billboard is for ashleymadison.com, a firm that helps men keep their love affairs secret from their wives. Click on the company’s website and the slogan that flashes at you in Spanish is: "Life is Short. Have an Affair."

Pena Nieto, in the doctored billboard photo, has lipstick on his collar. The billboard says, “Unfaithful to his family. Faithful and committed to his country.”

Pena Nieto has acknowledged that he fathered two children out of wedlock by different women while married to his first wife.

But this means nothing in Mexico. This didn’t even merit a reaction from the campaign headquarters of Pena Nieto’s party, the Institutional Revolutionary Party.

I asked a pollster this morning about Pena Nieto’s out-of-wedlock children and whether it might have any impact on the electorate. (In fact, it’s not a new issue.)

Marcelo Ortega of Consulta Mitofsky was emphatic in his response: “For the Mexican voter, infidelity is not an issue.”

The French, who think the Americans hold priggish interest in the personal lives of politicians, would be proud of the Mexicans. As this article notes, "How many senior male French politicians aren't either a groper, a cheater, a charmer or a serial seducer?"







AMERICA vs. MEXICO : CLASHING CULTURES ..... FRIGHTENING REALITY OF THE INVADERS



“The legal age of sexual consent in Mexico is 12 years old. Sex with children at this age and younger is socially acceptable in Mexico . For example: A Mexican Lopez-Mendez pleaded guilty to sexual assault on a 10 year old girl in West Virginia . His excuse: sex with young girls was common with his people. He said, “I was unaware that it was a crime.”



(DO A SEARCH ON THE BLOG FOR OTHER ARTICLES BY FROSTY WOOLDRIDGE

By Frosty Wooldridge

Anyone understand why Mexicans fail at a successful civilization? Ever wonder why millions of them invade the United States in search of a better life? Have you noticed that once they arrive, they create the same kind of ‘society’ in the United States ? Unconsciously, they create the same conditions they left behind. You can take the boy out of the ghetto, but you can't take the ghetto out of the boy. For example, in Denver in December, illegal alien Navi dragged his girlfriend to death behind his car. Illegal alien Cruz shot his girlfriend dead in the back because she wouldn’t reconcile with him. Illegal alien Ruizz ran over and killed Justin Goodman, but Ruizz drove away from the scene leaving Goodman to die. In Greeley, Colorado they suffered 270 hit and run accidents in one year. Over 80 percent of hit and run wrecks in Denver involve illegal aliens. Denver boasts the drug smuggling capital of the West as well as the people smuggling mecca of the country. Illegals cheat, distribute drugs, lie, forge documents, steal and kill as if it’s a normal way of life. For them, it is. Mexico’s civilization stands diametrically opposed to America’s culture. Both countries manifest different ways of thinking and operating. With George Bush’s push to create the “Security and Prosperity Partnership of North America” by dissolving our borders with Mexico, he places all Americans at risk. Would you become friends with neighbors who throw their trash on city streets and parks, create ghettoes wherever they enclave their numbers, promote corruption, deal in violence, encourage drug use, manifest poverty, endorse sexism and downgrade education? America’s culture and Mexico’s culture remain diametrically opposed to one another. America’s fought Mexico and won. Today, Mexico invades America with sheer numbers of poor. However, cultures rarely change and neither do their people. As you can see from the ten points below, everything about Mexico degrades everything about America. For further information, you may visit www.immigrationshumancost.org and www.limitstogrowth.org where you will find a plethora of information by a brilliant journalist Brenda Walker. Her original report may be viewed on www.Vdare.com on January 17, 2007 under the title: “Ten Reasons Why America Should Not Marry Mexico .” I suggest you read more of her work. She exemplifies incisive, sobering and shocking information. These ten point stem directly from Brenda Walker’s work. Let’s examine why America must not entangle itself by merging with Mexico. The legal age of sexual consent in Mexico is 12 years old. Sex with children at this age and younger is socially acceptable in Mexico . For example: A Mexican Lopez-Mendez pleaded guilty to sexual assault on a 10 year old girl in West Virginia . His excuse: sex with young girls was common with his people. He said, “I was unaware that it was a crime.” Mexicans remain the most sexist males next to Islamic men. Both boast the most misogynous cultures in the world. Rape and other violence toward women are not treated as serious crimes. In Mexico , a custom known as “rapto” whereby men kidnap women for sex is regarded as harmless amusement. Mexican society regards women little more than objects. Crime and violence remain mainstays of Mexican culture. Drug cartels and the Mexican army coordinate their massive efforts to promote drug distribution not only in Mexico but into the USA . Mexico City suffers the second highest crime rate in Latin America. Kidnapping remains second only to Columbia for ransom money. Beheadings, killings and gun fire erupt at drug distribution points on the US/Mexican border. Spontaneous hanging continues in Mexico. A mob beat up and burned to death two policemen on live television in 2004 in Mexico City. As Brenda Walker wrote, “Mexicans do not have the same belief as Americans that the law is central to the equitable functioning of a complex nation. It’s the Third World .” Mexicans abhor education. In their country, illiteracy dominates. As they arrive in our country, only 9.6 percent of fourth generation Mexicans earn a high school diploma. Mexico does not promote educational values. This makes them the least educated of any Americans or immigrants. The rate of illiteracy in Mexico stands at 63 percent. Drunk driving remains acceptable in Mexico . As it stands, 44,000 Americans die on our nation’s highways annually. Half that number stems from drunken drivers. U.S. Congressman Steve King reports that 13 American suffer death from drunken driving Mexicans each day. Alcoholism runs rampant in Mexican culture. They suffer the most DUI arrests. Mexicans set the benchmark for animal cruelty. Mexicans love dog fighting, bullfighting, cock fighting and horse tripping. Those blood sports play in every arena and backyard in Mexico . They expand into America as more Mexicans arrive. They also engage in “steer-tailing” where the rider yanks the animal’s tail in an attempt to flip it to the ground. In horse tripping, they run the animals at full gallop around a ring, then, use ropes to trip them at full speed. It’s a death sentence as the horses break their legs, teeth, shoulders and necks—all to the delight of the cheering Mexican fans. As La Raza confirms, Mexicans maintain the most racist society in North America . “For the Hispanic race, everything; for anyone outside the race, nothing!” Guadalupe Loaeza, a journalist, said, “Mexican society is fundamentally racist and classist. The color of your skin is a key that either opens or shuts doors. The lighter your skin, the more doors open to you.” Corruption becomes a mechanism by which Mexico operates. Corruption remains systemic. The Washington Post wrote, “ Mexico is considered one of the most corrupt countries in the hemisphere.” They feature drug cartels, sex slave trade, people smuggling, car theft cartels, real estate scam cartels, murder for money and, you must bribe your mail man to get your mail. Last, but not least, Mexicans are Marxists. They promote a one party government. As with any kind of Marxism, brutal totalitarian rule keeps the rich in power and everyone else subservient. As we allow millions of Mexicans to colonize our country, we can’t help but be caught up in these ten deadly cultural traits of Mexicans. With over 12 million Mexicans here today, the predictions grow to as many as 20 even 40 million Mexicans in a few decades as they come here for a better life.

 ...................................................The fact remains, as they come to America for a better life, they make our lives a living hell.

THE BREEDERS – HOW MEXICO ANCHORED THE LA RAZA OCCUPATION BY BREEDING IT!


THE BREEDERS – HOW MEXICO ANCHORED THE LA RAZA OCCUPATION BY BREEDING IT!
Orange County sheriff’s deputy Montoya says that the older Hispanic generation’s work ethic is fast disappearing among the gangbanging youngsters whom he sees. “Now, it’s all about fast money, drugs, and sex.” It may be that the willingness to work will plummet along with marriage rates, leading to even greater social problems than are now rife among Hispanics. Or it may be that the two contrasting practices will remain on parallel tracks, creating a new kind of underclass: a culture that tolerates free-floating men who impregnate women and leave, like the vast majority of black men, yet who still labor in the noncriminal economy.

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ANCHOR BABY CASE STUDIES – HOW MEXICO BREEDS AN OCCUPATION AT OUR COST:




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WE ARE MEXICO’S WELFARE SYSTEM!

AND IT COSTS US BILLIONS!

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The Mexican consul in Los Angeles proudly announced that nearly 300,000 Mexicans in the area have benefited from his government's health referral program, which he says actually saves the county money by encouraging immigrants to seek preventive care rather than waiting for more expensive emergency treatment.






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ONE MEXICO’S LARGEST EXPORTS IS PREGNANT WOMEN. THESE WOMEN KNOW THEY CAN HOP OUR BORDERS FOR “FREE” ANCHOR BABY BIRTHING = 18 YEARS OF WELFARE. THIS CHILD BORN IN OUR BORDERS WILL BE RAISED AS A MEXICAN AND STILL BE A CITIZEN OF MEXICO!



OBAMA TIES TO THE DRUG INDUSTRY! YOU THOUGHT HE ONLY SERVICED HIS CRIMINAL BANKSTER DONORS?

NEW YORK TIMES

June 8, 2012

Lobby E-Mails Show Depth of Obama Ties to Drug Industry

WASHINGTON — After weeks of quiet talks, drug industry lobbyists were growing nervous. If they were to cut a deal with the White House on overhauling health care, they needed to be sure President Obama would stop a proposal by his liberal allies intended to bring down medicine prices.
On June 3, 2009, one of the lobbyists e-mailed Nancy-Ann DeParle, the president’s top health care adviser. Ms. DeParle sent a message back reassuring the lobbyist. Although Mr. Obama was overseas, she wrote, she and other top officials had “made decision, based on how constructive you guys have been, to oppose importation on the bill.”
Just like that, Mr. Obama’s staff abandoned his support for the reimportation of prescription medicines at lower prices and with it solidified a growing compact with an industry he had vilified on the campaign trail the year before. Central to Mr. Obama’s drive to overhaul the nation’s health care system was an unlikely collaboration with the pharmaceutical industry that forced unappealing trade-offs.
The e-mail exchange that day three years ago was among a cache of messages obtained from the industry and released in recent weeks by House Republicans — including a new batch put out on Friday morning detailing the industry’s advertising campaign in favor of Mr. Obama’s proposal. The broad contours of the president’s dealings with the drug industry were known in 2009 but the newly public e-mails open a window into the compromises underlying a health care overhaul now awaiting the judgment of the Supreme Court.
Mr. Obama’s deal-making in 2009 represented a pivotal moment in his young presidency, a juncture where the heady idealism of the campaign trail collided with the messy reality of Washington policymaking. A president who had promised to air negotiations on C-Span cut a closed-door deal with the powerful pharmaceutical lobby, signifying to some disillusioned liberal supporters a loss of innocence, or perhaps even the triumph of cynicism.
But if it was a Faustian bargain for the president, it was one he deemed necessary to forestall industry opposition that had thwarted efforts to cover the uninsured for generations. Without the deal, in which the industry agreed to provide $80 billion for health reform in exchange for protection from policies that would cost more, Mr. Obama and Democratic allies calculated he might get nowhere.
“There was no way we had the votes in either the House or the Senate if PhRMA was opposed — period,” said a senior Democratic official involved in the talks, referring to the Pharmaceutical Research and Manufacturers of America, the drug industry trade group.
Republicans see the deal as hypocritical. “He said it was going to be the most open and honest and transparent administration ever and lobbyists won’t be drafting the bills,” said Representative Michael C. Burgess of Texas, one of the Republicans on the House Energy and Commerce subcommittee that is examining the deal. “Then when it came time, the door closed, the lobbyists came in and the bills were written.”
Some of the liberals bothered by the deal-making in 2009 now find the Republican criticism hard to take given the party’s long-standing ties to the pharmaceutical industry.
“Republicans trumpeting these e-mails is like a fox complaining someone else raided the chicken coop,” said Robert Reich, the former labor secretary under President Bill Clinton. “Sad to say, it’s called politics in an era when big corporations have an effective veto over major legislation affecting them and when the G.O.P. is usually the beneficiary. In this instance, the G.O.P. was outfoxed. Who are they to complain?”
Dan Pfeiffer, the White House communications director, said the collaboration with industry was in keeping with the president’s promise to build consensus.
“Throughout his campaign, President Obama was clear that he would bring every stakeholder to the table in order to pass health reform, even longtime opponents like the pharmaceutical industry," Mr. Pfeiffer said. "He understood correctly that the unwillingness to work with people on both sides of the issue was one of the reasons why it took a century to pass health reform.”
In a statement, PhRMA said that its interactions with Mr. Obama’s White House were part of its mission to “ensure patient access” to quality medicine and to advance medical progress.
“Before, during and since the health care debate, PhRMA engaged with Congress and the administration to advance these priorities,” said Matthew Bennett, the group’s senior vice president.
Representative Henry Waxman of California, the top Democrat on the House committee and one of those who balked at Mr. Obama’s deal in 2009, now defends it as traditional Washington lawmaking.
“Presidents have routinely sought the support and lobbying clout of private industry in passing major legislation,” Mr. Waxman’s committee staff said in a memo released in response to the e-mails. “President Obama’s actions, for example, are no different than those of President Lyndon B. Johnson in enacting Medicare in 1965 or President George W. Bush in expanding Medicare to add a prescription drug benefit in 2003.”
Still, what distinguishes the Obama-industry deal is that he had so strongly rejected that very sort of business as usual. During his campaign for president, he specifically singled out the power of the pharmaceutical industry and its chief lobbyist, former Representative Billy Tauzin, a Democrat-turned-Republican from Louisiana, as examples of what he wanted to change.
“The pharmaceutical industry wrote into the prescription drug plan that Medicare could not negotiate with drug companies,” Mr. Obama said in a campaign advertisement, referring to Mr. Bush’s 2003 legislation. “And you know what? The chairman of the committee who pushed the law through went to work for the pharmaceutical industry making $2 million a year.
“Imagine that,” Mr. Obama continued. “That’s an example of the same old game playing in Washington. You know, I don’t want to learn how to play the game better. I want to put an end to the game playing.”
After arriving at the White House, though, he and his advisers soon determined that one reason Mr. Clinton had failed to pass health care reform was the resilient opposition of industry. Led by Rahm Emanuel, his chief of staff and a former House leader, and Jim Messina, his deputy, White House officials set out to change that dynamic.
The e-mails, which the House committee obtained from PhRMA and other groups after the White House declined to provide correspondence, document a tumultuous negotiation, at times transactional, at others prickly. Each side suspected the other of betraying trust and operating in bad faith.
The White House depicted in the message traffic comes across as deeply involved in the give-and-take, and not averse to pressure tactics, including having Mr. Obama publicly assail the industry unless it gave in on key points. In the end, the White House got the support it needed to pass its broader priority, but industry emerged satisfied as well. “We got a good deal,” wrote Bryant Hall, then senior vice president of the pharmaceutical group.
Mr. Bryant, now head of his own firm, declined to comment. So did Mr. Emanuel, now mayor of Chicago; Mr. Messina, now the president’s campaign manager; and Ms. DeParle, now a White House deputy chief of staff. Mr. Tauzin, who has left his post as the industry’s lobbyist, did not respond to messages.
The latest e-mails released on Friday underscore the detailed discussions the two sides had about an advertising campaign supporting Mr. Obama’s health overhaul.“They plan to hit up the ‘bad guys’ for most of the $,” a union official wrote after an April meeting with Mr. Messina and Senate Democratic aides. “They want us to just put in enough to be able to put our names in it — he is thinking @100K.”
In July, the White House made clear that it wanted supportive ads using the same characters the industry used to defeat Mr. Clinton’s proposal 15 years earlier. “Rahm asked for Harry and Louise ads thru third party,” Mr. Hall wrote.
Industry and Democratic officials said privately that the advertising campaign was an outgrowth of the fundamental deal, not the goal of it. The industry traditionally advertises in favor of legislation it supports.
Either way, talks came close to breaking down several times. In May, the White House was upset that the industry had not signed onto a joint statement. One industry official wrote that they should sign: “Rahm is already furious. The ire will be turned on us.”
By June, it came to a head again. “Barack Obama is going to announce in his Saturday radio address support for rebating all of D unless we come to a deal,” Mr. Hall wrote, referring to a change in Medicare Part D that would cost the industry.
In the end, the two sides averted the public confrontation and negotiated down to $80 billion from $100 billion. But the industry believed the White House was rushing an announcement to deflect political criticism.
“It’s pretty clear that the administration has had a horrible week on health care reform, and we are now getting jammed to make this announcement so the story takes a positive turn before the Sunday talk shows beat up on Congress and the White House,” wrote Ken Johnson, a senior vice president of the pharmaceutical organization.
In the end, House Democrats imposed some additional costs on the industry that by one estimate pushed the cost above $100 billion, but the more sweeping policies the firms wanted to avoid remained out of the legislation. Mr. Obama signed the bill in March. He had the victory he wanted.

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).



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“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

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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).

House Passes Homeland Security Funding Bill, Immigration Front-and-Center - FIGHTING OBAMA'S SURRENDER of OUR BORDERS TO NARCOMEX

House Passes Homeland Security Funding Bill, Immigration Front-and-Center




WIKILEAKS EXPOSES OBAMA'S AGENDA OF LA RAZA SUPREMACY AND AN ILLEGAL IN EVERY AMERICAN JOB TO KEEP WAGES DEPRESSED. THE LEGALS GET THE TAX BILLS FOR THE MEX WELFARE AND CRIME TIDAL WAVE.
http://mexicanoccupation.blogspot.com/2012/05/illegals-obama-promises-his-la-raza.html

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The Obama administration has also cut worksite enforcement efforts by 70%, allowing illegal immigrants to continue working in jobs that rightfully belong to citizens and legal workers.


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Obama Quietly Erasing Borders (Article)






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ARTICLE


8 Out of 10 Illegals Apprehended in 2010 Never Prosecuted
http://www.alipac.us/article-6162-thread-1-0.html



THE ENTIRE REASON THE BORDERS ARE LEFT OPEN IS TO CUT WAGES!

THE LA RAZA DEMS HAVE SABOTAGED E-VERIFY TO HELP EASE MORE ILLEGALS INTO OUR JOBS. IN MEX-OCCUPIED CA, THE LA RAZA (ILLEGALS) CONTROLLED STATE LEGISLATURE PASSED A LAW MAKING IT ILLEGAL FOR EMPLOYERS TO USE E-VERIFY. OBAMA HAS SUED AZ TO STOP E-VERIFY…. HERE’S WHY:

“We could cut unemployment in half simply by reclaiming the jobs taken by illegal workers,” said Representative Lamar Smith of Texas, co-chairman of the Reclaim American Jobs Caucus. “President Obama is on the wrong side of the American people on immigration. The president should support policies that help citizens and legal immigrants find the jobs they need and deserve rather than fail to enforce immigration laws.”

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 “The principal beneficiaries of our current immigration policy are affluent Americans who hire immigrants at substandard wages for low-end work. Harvard economist George Borjas estimates that American workers lose $190 billion annually in depressed wages caused by the constant flooding of the labor market at the low-wage end.” Christian Science Monitor

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“Listen to people from the National Council of La Raza, LULAC, CARECEN, Latino TV networks, the Piolin radio show (that’s Hispanic anti-Rush Limbaugh), and you will see that the U.S. is replete with its own Chavezes-in-waiting.”



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LA RAZA-CONTROLLED MEXIFORNIA – CAPITAL OF MEXICAN GANGS

THE LA RAZA CRIME TIDAL WAVE

NEARLY HALF OF ALL MURDERS IN CA ARE BY MEXICAN GANGS!