Wednesday, June 18, 2014

THE RISE and FALL and PROFITEERING OF HILLARY CLINTON - Is Hillary Clinton Imploding? | The Weekly Standard

Is Hillary Clinton Imploding? | The Weekly Standard


GETTING RICH FOR SERVING THE RICH… and what have they done for America again??? I forget… again!


 

HILLARY CLINTON… just follow the dirty money… IT ONLY LEADS TO THEIR DIRTY DEEDS


Will Hillary Clinton’s long history of hispandering and promising LA RAZA Obama’s bit by bit amnesty and open borders deliver the illegals’ still illegal votes?


SHE’S BANKING ON IT! LEGAL WILL NOT BUY INTO HER CRAP LIKE THEY DID OBAMA’S “HOPE & CHANGE”.

 

 

TIME TO STOP DEFENDING THE BORDERS of MUSLIM DICTATORS AND START DEFENDING OUR BORDERS WITH NARCOMEX? Cruz: Can't Defeat 'Radical Islamic Terrorism' If You Won't Utter Those Words | CNS News

Cruz: Can't Defeat 'Radical Islamic Terrorism' If You Won't Utter Those Words | CNS News


BILLIONS and BILLIONS in welfare for border jumping illegals…. and they STILL GET OUR JOBS…

WHAT’S LEFT FOR VETERANS???


 

MICHELLE MALKIN:

IN AMERICA, LA RAZA ILLEGALS ARE BETTER OFF THAN VETERANS! BUT GIVEN THE MEX WELFARE STATE IN OUR BORDERS, THEY’RE BETTER OFF THAN LEGALS PERIOD!


 

America: Medical and welfare welcome mat to the rest of the world, while leavings its best and bravest veterans to languish in hospital lounges, die waiting for appointments, and compete for jobs and educational opportunities against illegal border-crossers, document fakers, visa violators and deportation evaders. Shame on us.

CHILDREN POUR OVER TEXAS BORDER

COST: $ 2 BILLION AND GOING UP!

TOMORROW THEY WILL SIGN UP FOR WELFARE AND THEN GO VOTE DEM!


 

MORE LIES FROM THE LIAR-IN-CHIEF - OBAMA CAN'T SABOTAGE OUR BORDERS FAST ENOUGH! On immigrant surge, White House story falls apart | WashingtonExaminer.com

On immigrant surge, White House story falls apart | WashingtonExaminer.com


DEPORTATION LIES

OBAMA’S LA RAZA-WRITTEN PROPAGANDA TO CONCEAL OUR OPEN BORDERS WITH NARCOMEX:


WILL THE DEMS’ AMNESTY DESTROY AMERICA, OR ONLY JOBS FOR AMERICANS AND THE GOP???


 BARACK OBAMA: Sociopath or just a good ol’ fashioned lying politician? 


MASSIVE UNEMPLOYMENT IN AMERICA AS OBAMA and the DEMOCRAT PARTY PUSH OUR BORDERS OPEN, SABOTAGE E-VERIFY, AND PROMISE ILLEGALS NO ENFORCEMENT OF LAWS PROHIBITING THE EMPLOYMENT of ILLEGALS… it’s all about buy the Mexican vote and keeping wages depressed for DEM POL paymasters!


There are mounting warnings by economists that the US confronts long-term economic stagnation and high unemployment into the indefinite future….

"We could cut unemployment in half simply by reclaiming the jobs taken by illegal workers," said Representative Lamar Smith

 

OBAMA'S SABOTAGE OF AMERICAN BORDERS - Gov. Perry: US-Mexico Border 'An Absolute Overflowing Mess' | CNS News

Gov. Perry: US-Mexico Border 'An Absolute Overflowing Mess' | CNS News


how do the la raza dems build their party base of illegals? no borders, no enforcement, no E-VERIFY, no legal need apply AND MUCHO DREAM ACTS of WELFARE, OBAMACARE and now food stamps.


“The watchdogs at Judicial Watch discovered documents that reveal how the Obama administration's close coordination with the Mexican government entices Mexicans to hop over the fence and on to the American dole.” Washington Times

 *

“While the Obama Administration downplays violence along the U.S.-Mexico border, authorities in Texas reveal that Mexican  have transformed parts of the state into a war zone where shootings, beheadings, kidnappings and murders are common.”

"And this is something we brought to the attention of the president over two years ago, back in 2012, when we saw this was a major issue. We flagged this. And we're still waiting for a response, not just from the president but from the administration. So it is a major problem."

"Section 4, Article 4 of the U.S. Constitution says, "The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion..."


CHILDREN POUR OVER TEXAS BORDER

COST: $ 2 BILLION AND GOING UP!

WHILE TEXAS GOV RICK PERRY IS WONDERING WHAT THE HOMOS ARE UP TO, ILLEGALS AND THE MEXICAN DRUG CARTELS ARE POURING OVER HIS UNDEFENDED BORDERS.

TOMORROW THEY WILL SIGN UP FOR WELFARE AND THEN GO VOTE DEM!

 

JUST ANNOUNCED! It’s official: the GOP will follow Obama’s surrender of the borders of Texas to LA RAZA and the Mexican Drug Cartels.

VIVA LA RAZA SUPREMACY?


MEXICO’S BIGGEST EXPORT NEXT TO DRUGS: criminals!
http://mexicanoccupation.blogspot.com/2014/04/mexicos-biggest-export-next-to-drugs.html
 
 

THE MEXICAN DRUG CARTELS NOW OPERATE IN MORE THAN 2,500 AMERICAN CITIES… Thanks to Obama’s sabotage of homeland security.
Outmanned and outgunned, local law enforcement officers are alarmed by the drug and human trafficking, prostitution, kidnapping and money laundering that Mexican drug cartels are conducting in the U.S. far from the border.
U.S. sheriffs say that securing the border is a growing concern to law enforcement agencies throughout the country, not just those near the U.S.-Mexico boundary.

DEPORTATION LIES


OBAMA’S LA RAZA-WRITTEN PROPAGANDA TO CONCEAL OUR OPEN BORDERS WITH NARCOMEX:

http://mexicanoccupation.blogspot.com/2014/04/report-returns-removals-of-illegal.html

AN AMERICAN SEES and SPEAKS:

POST FROM CRAIGSLIST

 “Why are we letting this happen? I don't think our government wants to stop it for whatever reason, so it will be up to the people”.


 
OBAMA’S AGENDA OF OPEN and UNDEFENDED BORDERS and the MEXICAN  SWARMING OUR BORDERS.


MEXICO TODAY... AMERICA TOMORROW!

Inside Mexico's drug war: Heart wrenching images of poverty and violence capture true misery of country ravaged by cartels


“While the Obama Administration downplays violence along the U.S.-Mexico border, authorities in Texas reveal that Mexican  have transformed parts of the state into a war zone where shootings, beheadings, kidnappings and murders are common.”


Obama orders nearly 300 US troops to Iraq



THE MEXICAN DRUG CARTELS NOW OPERATE IN MORE THAN 2,500 AMERICAN CITIES… Thanks to Obama’s sabotage of homeland security.


Outmanned and outgunned, local law enforcement officers are alarmed by the drug and human trafficking, prostitution, kidnapping and money laundering that Mexican drug cartels are conducting in the U.S. far from the border.
 




U.S. sheriffs say that securing the border is a
 
growing concern to law enforcement agencies
 
throughout the country, not just those near the
 
U.S.-Mexico boundary.

DEPORTATION LIES

OBAMA’S LA RAZA-WRITTEN PROPAGANDA TO CONCEAL OUR OPEN BORDERS WITH NARCOMEX:



WELFARE FOR ILLEGALS SOARS UNDER
OBAMA… they also get our jobs!
 
http://mexicanoccupation.blogspot.com/2014/06/soaring-welfare-for-illegals-under.html



RASSMUSEN REPORT:

But if immigration reform legislation passes, just nine percent (9%) believe it is Very Likely the federal government will actually try to secure the border. That’s an important point because, even among supporters of comprehensive reform, 64% think border security should come before legalizing the status of those here illegally.


JUDICIAL WATCH:

It proves the Obama administration is willing to go to any extent - including gaming the courts - to continue stonewalling the full story of its lawless release of illegal aliens. Now, with the prison floodgates being thrown open to illegal aliens under the phony pretense of abiding by sequester cuts, it is more important that details of this threat to the public safety be revealed.


Obama’s Promise of Homeland Security to
Americans (Legals) and his Vow to Illegals of
Open and Undefended Borders With Narcomex

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


  

AMERICAN TAX DOLLARS AND OPERATES OUT OF THE WHITE HOUSE UNDER CECILIA MUNOZ?



JUDICIAL WATCH:


It proves the Obama administration is willing to

go to any extent - including gaming the courts - to

continue stonewalling the full story of its lawless

release of illegal aliens. Now, with the prison

floodgates being thrown open to illegal aliens

under the phony pretense of abiding by sequester

cuts, it is more important that details of this threat

to the public safety be revealed.


A week later, Rep. Steve King (R-Iowa) said the immigration bill was “far worse” than ObamaCare: He described the bill as an attempt by Senate Democrats “to establish another monolithic voting bloc” among Hispanic Americans.

OBAMA KEEPS PROMISE TO MEXICO: jumping U.S. borders will never get easier!
THE OBAMA SABOTAGE of AMERICAN BORDERS and LAWS to build the dems’ LA RAZA “THE RACE” PARTY BASE of looting illegals.
 
 OBAMA’S IMPERIAL AMNESTY – THE
THRUST TO BUILD THE DEM PARTY WITH
40 MILLION BORDER CLIMBERS.



 
MICHELLE MALKIN:
IN AMERICA, LA RAZA ILLEGALS ARE BETTER OFF THAN VETERANS! BUT GIVEN THE MEX WELFARE STATE IN OUR BORDERS, THEY’RE BETTER OFF THAN LEGALS PERIOD!
America: Medical and welfare welcome mat to the rest of the world, while leavings its best and bravest veterans to languish in hospital lounges, die waiting for appointments, and compete for jobs and educational opportunities against illegal border-crossers, document fakers, visa violators and deportation evaders. Shame on us.
More Americans Killed by Illegal Aliens than Iraq War, Study Says
more at this link – post on your Facebook and email broadcast                                         
 

CHILDREN POUR OVER TEXAS BORDER


COST: $ 2 BILLION AND GOING UP!

WHILE TEXAS GOV RICK PERRY IS WONDERING WHAT THE HOMOS ARE UP TO, ILLEGALS AND THE MEXICAN DRUG CARTELS ARE POURING OVER HIS UNDEFENDED BORDERS.
TOMORROW THEY WILL SIGN UP FOR WELFARE AND THEN GO VOTE DEM!



JUST ANNOUNCED! It’s official: the GOP will follow Obama’s surrender of the borders of Texas to LA RAZA and the Mexican Drug Cartels.
 

VIVA LA RAZA SUPREMACY?

Americans See Obama as SABOTAGING Homeland Security to Build his LA RAZA PARTY BASE of ILLEGALS:




THE LA RAZA “THE RACE” INVADERS:


AMERICA vs MEXICO: CLASHING CULTURES

By Frosty Wooldridge

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


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.

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.

 
ANOTHER LA RAZA RAPE

TEXAS – UNDER LA RAZA OCCUPATION

A DOZEN MEXICAN ILLEGALS GANG RAPE A 13 YEAR OLD CHILD FOR HOURS.

THESE ARE THE ANIMALS THAT JUMP OUR BORDERS TO LOOT OUR JOBS, WELFARE AND VOTE DEM!
                           
more at this link – post on your Facebook and email broadcast



AMNESTY….LA RAZA IS PRINTING OUT FRAUD I.D.s BY THE MILLIONS.
"They hauled them down to the border," Sakuma said. "Three days later, they were standing in our office, but they had a different name and a different Social Security number."
 
YOU MEAN........???
 
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.
 
BARACK OBAMA’S sabotage of homeland security and the MEXICAN  that endorse his LA RAZA SUPREMACY & OPEN BORDERS AGENDA


OBAMA’S BANKSTERS MONEY LAUNDERING FOR MEX DRUG CARTELS… not one went to prison! ALL ARE OBAMA DONORS!

 
 

 


 

 

GEITHNER: THE BANKSTER BOY'S LIES! Timothy Geithner’s Stress Test: Confessions of a Wall Street bag-man

Timothy Geithner’s <em>Stress Test</em>: Confessions of a Wall Street bag-man


THE OBAM MELTDOWN is here:        

OBAMANnomics: HOW HIS CRONY BANKSTERS LOOTED AMERICAN AND WERE PAID MASSIVE BONUSES FOR DOING SO!

 
 

A NATION LOOTED FROM WALL STREET

HAS OBAMA’S CRONY BANKSTERS
DESTROYED AMERICA? We haven’t gotten to
the real cost of their looting… YET!
 
http://mexicanoccupation.blogspot.com/2014/06/will-obamas-criminal-crony-banksters.html


Timothy Geithner’s Stress Test: Confessions of a Wall Street bag-man

By Andre Damon
18 June 2014
Stress Test, the memoir published last month by former US Treasury Secretary Timothy Geithner, documents the conspiracy to prepare and execute the 2008 bank bailout, from the point of view of the operation’s leading architect.

Geithner’s main goal in writing the book is to present his actions as president of the New York Federal Reserve and later as treasury secretary as justified and necessary. But these attempts are largely half-hearted, intended to convince people who want to be convinced.

The book is of interest not for Geithner’s self-justifications, but because it presents a detailed overview (at nearly 600 pages) of the bank bailout and includes significant new information about how the Bush and Obama administrations decided upon the course of action they took in 2008 and 2009.

In his memoir, Geithner concedes that the average American thinks the bank bailout was aimed at protecting Wall Street interests at the expense of the population. As he puts it, “We did save the economy, but we lost the country doing it.” Geithner adds, “Conventional wisdom still holds that we abandoned Main Street to protect Wall Street.”

In this case, “conventional wisdom” is correct.

The 2008 financial meltdown was precipitated by frenzied Wall Street speculation fueled by a real estate and credit bubble that swelled bank profits, executive pay and the wealth of the super-rich to the highest levels in US history. The speculation, which utilized highly complex financial instruments, was facilitated by government regulators. They not only turned a blind eye, they actively encouraged Wall Street’s “financial innovation” while providing plenty of cash, via the Federal Reserve’s low interest rate policy.

When home values began to decline, the entire financial system became insolvent and the government bailed out every major bank with taxpayer money in the face of widespread popular opposition. According to Geithner, the government loaned nearly $7 trillion to the financial system, which was used to prop up over $30 trillion in financial assets—more than twice the yearly output of the United States.

These actions halted the collapse of financial asset values and led to the creation of another asset bubble. Since 2009, both the Dow Jones Industrial Average and the wealth of the super-rich have more than doubled, while the income of a typical US household has fallen by more than $5,000. The bank bailout was followed by more then $2 trillion in budget cuts and the layoff of more than half a million government employees.

Geithner’s memoir documents his emergence as the leading spokesman for the banks and financial interests within the Federal Reserve and the Obama administration. In every major policy debate, he directly took the side of the banks, to the point where even White House economic adviser and former Treasury Secretary Lawrence Summers—one of the figures most closely associated with financial deregulation—accused him of being “too cozy” with banking interests.

Throughout the 2008 crash and subsequent bailouts, Geithner served as a political whip and enforcer, a backstage operator working to maximise the bankers’ profits, cover their failed investments, and shield them from prosecution and accountability for their crimes.

The book, and indeed Geithner’s whole career, is a testament to the corruption of the American political system: its leading figures’ contempt for democracy and the popular will, their hatred of equality, and the dishonesty that pervades every press conference and congressional hearing. The real decisions are made in the background. What is presented to the public are “fig leaves” and “irrelevant shiny objects,” as Geithner calls the meaningless executive pay limits included in so-called Troubled Asset Relief Program.

Geithner was born in 1961 in Brooklyn, New York and grew up in Zimbabwe, Zambia, India and Thailand, where his father served as a leading figure in the Ford Foundation, an international development organization with close ties to the CIA . Geithner’s life and career in significant ways parallel those of his future boss, Barack Obama.

They are both American citizens who grew up abroad and whose parents worked for international development groups tied to the American intelligence apparatus. Geithner notes that at one of their early meetings, he and Obama “discussed an odd family coincidence: When my father was running the Ford Foundation’s Asia programs, the foundation had funded the work of Senator Obama’s late mother, Ann Dunham, while she built a microfinance program in Indonesia.”

During his freshman year at Dartmouth College, Geithner spent Christmas break as a war photographer for the Associated Press during a conflict along the Thai-Cambodian border, despite the fact that he had “little interest in politics, economics, or even current events.” His career was a fast-track progression up the Washington ladder.

Geithner recounts that while attending the School of Advanced International Studies at Johns Hopkins University (whose faculty includes leading figures in the US military/intelligence establishment), a professor asked him “which economics journals I read. I replied that I had never read any. Seriously? Yes, seriously. The professor seemed incredulous. He decided my clear lack of interest in economics disqualified me from an honors grade.”

After graduating, he went on to work for three years at Kissinger Associates, a foreign policy consulting firm run by former Secretary of State Henry Kissinger and former National Security Adviser Brent Scowcroft. He was employed as “something of an Asia specialist.” Geithner does not report his pay, but, as he puts it, “Kissinger Associates seemed like an interesting place to start paying off my student loans.”

He moved on to work at the International Affairs Division of the US Treasury Department in 1988, and then served as an attaché at the US embassy in Tokyo. He returned to Treasury to serve as undersecretary for international affairs under treasury secretaries Robert Rubin and Lawrence Summers, both of whom he cites as mentors. After working as an official at the International Monetary Fund in 2001, Geithner was, at the insistence of Summers and Rubin, appointed to head the Federal Reserve Bank of New York, the second most powerful position within the Federal Reserve, behind only the Fed chairman.

From this brief description it is clear that Geithner was groomed for a state career by powerful figures, including Summers and Rubin.

Geithner’s rapid advancement is explained not by merit, but by his absolute and unconditional devotion to the promotion of Wall Street’s interests, to the point where it made even notorious free market ideologues uneasy. Geithner recalls in his book the struggle waged by Summers and then-Federal Reserve Chairman Alan Greenspan to prevent the regulation of financial derivatives, proposed in the late 1990s by then-Chair of the Commodity Futures Trading Commission Brooksley Born.

“During one discussion in Rubin’s small conference room, I invoked the lazy argument that regulating the over-the-counter market might drive derivatives offshore. I must have sounded like a bank lobbyist, and Rubin shot me a derisive look,” recalls Geithner.

Instead of regulating derivatives, Geithner worked to expand, systematize and computerize their use. This was the goal of a 2005 meeting with the leading dealers of derivatives, to whom he refers in the book as “the Fourteen Families,” because it was “as if they were warring Mafia bosses meeting in a back room to discuss their common interests.”

As a result of his work with the “Fourteen Families,” Geithner boasts, “the backlog of unconfirmed credit derivatives had been reduced by 92 percent, even though the volume had tripled. Electronic processing of equity derivatives had increased from 34 percent to 94 percent.”

The mob boss imagery is entirely appropriate, with Geithner playing the role of consigliere.
The deregulation of the financial industry, in which Geithner, Rubin and Summers played a leading role, allowed the banks, with the knowledge of regulators, to offload semi-worthless subprime home loans onto global investors by packaging them into mortgage-backed securities and collateralized debt obligations. This gigantic Ponzi scheme turned the market for home loans into a racket. It could continue to generate huge profits only as long as home prices continued to rise.

But more and more people were buying homes with loans they could not afford. When home prices began to decline, the entire financial edifice collapsed, triggering the 2008 crash.

Once the crisis erupted, Geithner took the tack that it “was not the time to focus on punishing the arsonists. It was the time to focus on putting out the fire.”

There was, as he put it, “intense pressure on us to punish the Wall Street gamblers who had gotten us into this mess—to nationalize or liquidate floundering firms, or force bondholders to accept ‘haircuts’ rather than the face value of their bonds.”

Geithner relentlessly fought against such positions, and Obama took Geithner’s side in every case.
Throughout the book, Geithner seeks to present himself as an impartial technocrat and pragmatist, taking the steps necessary to save the financial system with no regard to “politics.” He claims that the course of action he took was the only way to prevent a new depression. In fact, Geithner had a well worked-out and consistent line on how to handle the bank bailout, from which he and the Obama administration did not depart.

* There would be no “haircuts” for bank creditors: debts of bailed-out companies would be paid in full at taxpayer expense.

This was most notable in the bailout of the credit insurer American International Group (AIG), where the insurer’s debts were paid one hundred cents on the dollar, with Goldman Sachs being the largest beneficiary of a $200 billion handout from the government.


* There would be no meaningful restrictions on executive pay.

At Geithner’s insistence, the White House allowed $165 million in bonuses to be paid to employees at AIG’s Financial Products unit only a week after the company received an additional $30 billion in bailout funds. “Let me get this straight,” Geithner recalls Obama saying. “We’re going to pay bonuses to the very people who caused all this damage to the financial system?” “Yeah, basically,” replied Geithner.

And that was that. The Obama administration made sure that a bill to tax the AIG bonuses at 90 percent which passed in the House of Representatives did not make it to the Senate.

* Bailed-out companies would not be nationalized.

At Geithner’s insistence, the White House had financial regulators “sign in blood,” as he put it, a statement that “The strong presumption… is that banks should remain in private hands.”

* CEOs at bailed-out banks would not be replaced, much less prosecuted.

Geithner was adamant that the financial institutions that received government capital retain the leaderships that ran the firms into the ground. Prosecuting executives was likewise out of the question. Geithner writes that, “the financial activities most responsible for the crisis weren’t illegal, however unethical or dumb they may have been.”

Amazingly, the memoir of a “lifelong financial regulator” uses the word “illegal” only three times, and never in connection with an accusation of criminal activity.

* There would be no substantive assistance to borrowers.

Geithner fought against forcing banks to reduce loan principals for mortgage borrowers falling behind on their payments. Instead, the Obama administration’s housing assistance program merely had banks voluntarily lower borrowers’ monthly payments. As a result, the homeowners assistance program was an empty shell.

So adamant was Geithner in upholding these principles that he clashed with other dedicated defenders of Wall Street in Obama’s economic team, including his mentor, Lawrence Summers, who wanted to impose “haircuts” on the creditors of bailed-out firms, carry out some nationalizations, and replace executives.

Geithner declares that he did not share Summers’s view that “we could fashion a crisis response that was both effective and politically popular.” He notes that in the administration’s “internal strategy discussions, some participants—at times including Larry [Summers]… suggested that widespread nationalization was inevitable and even necessary. Nationalization was a threatening word for investors in a market economy, implying that shareholders could be wiped out, creditors could be haircut, and politicians could be taking control of private firms.”

Geithner complains that, “Behind closed doors, even Larry suggested the fix was in, complaining that the Fed was too cozy with banks.”

Obama passed over Summers for the position of Federal Reserve chairman when Ben Bernanke stepped down last year, nominating Janet Yellen instead.

Obama’s decision to appoint Geithner as treasury secretary in 2009 was “an endorsement of all the unpopular stuff” he and then-Treasury Secretary Henry Paulson had done, as he puts it. “I was another Mr. Bailout,” he writes.

Obama showed the depth of his commitment to “Mr. Bailout” when he decided to go through with Geithner’s nomination despite the fact that the vetting process found that the soon-to-be head of Treasury (and the Internal Revenue Service) had cheated on his taxes. Geithner was confirmed by the Senate by the narrowest margin of any treasury secretary since World War II.

The book also sheds light on the demise of Lehman Brothers, which Treasury and the Fed allowed to collapse for reasons that have never been coherently explained in official accounts. Geithner presents at least three reasons for letting Lehman collapse: that the White House would not allow the Federal Reserve to bail out Lehman, that British regulators stopped a buyout deal that would have averted bankruptcy, and that Lehman was in a fundamentally worse position than either Bear Stearns, which was purchased by JPMorgan Chase in March, 2008 with a $30 billion government subsidy, or AIG, which was bailed out the day after Lehman collapsed.

Geithner concedes that the public does not believe these explanations. “The world still believes we made a conscious choice to let Lehman go. That’s the standard journalistic account, shared by many economists and financial players.”

He then proceeds to suggest, in a backhanded fashion, that Lehman’s demise created the political climate for the ensuing bailout of the whole financial system.

He writes: “Even in a world where we somehow rescued Lehman, and then still went ahead and rescued AIG, we would not have eliminated the fundamental factors driving the crisis. The economy was collapsing, and the financial system would have kept lurching toward disaster—undercapitalized, overleveraged, still burdened by mortgage assets the markets wouldn’t touch, still under threat of a broader run. It took the fall of Lehman and the impending collapse of AIG to persuade President Bush and Hank [Paulson] to seek legislative authority to try to repair the entire system.”

Geithner here comes close to admitting that he and Fed Chairman Bernanke decided to throw Lehman to the wolves in order to create a sufficiently intense atmosphere of crisis to obtain the legislation from Congress that would be needed to use taxpayer money to prevent the collapse of every other major US financial institution.

Lehman’s collapse led within four days to the proposal for the $700 billion Troubled Asset Relief Program, which was passed by Congress on October 3, 2008. Geithner notes that following the Lehman collapse, Barney Frank, the Democratic chairman of the House Financial Services Committee, remarked that “the terror of the free fall could dampen enthusiasm for government inaction, and shock the political world into taking the crisis seriously. ‘Maybe this will shut up the crazies,’ he said.”

Having facilitated the activities that led to the financial crisis, bailed out the banks, and shielded their executives from prosecution, Geithner concludes that he is “proud of what I did in public life, but I couldn’t do it forever.” He accordingly chose to “learn a new craft in the investment world” by becoming the head of the buyout firm Warburg Pincus, where he will presumably make millions.
Geithner emerges from his own account as a despicable figure, a financial mafia bureaucrat, perhaps with state intelligence connections. If there is one unifying thread in his career, it is contempt for the people. He captures something essential about the American ruling class, which thinks any crime can be covered up with a big enough lie.


CRONY CAPITALISM… predicated on keeping wages depressed to third world levels for his billionaire donors!  

BOOK  BOOK  BOOK BOOK BOOK BOOK BOOK BOOK  BOOK  BOOK  BOOK BOOK

Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses…and Muslim Dictators

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


 
OBAMA’S HAREM OF CORRUPT BANKSTERS… DO A GOOGLE FOR HOW MANY ENDED UP WORKING IN HIS 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).”
 

LEHMAN BROTHERS Obama’s partners for the looting of America for the 1%


Five years since the collapse of Lehman Brothers…. WALL STREET’S PLUNDER of AMERICA UNDER OBAMAnomics ONLY LOOKS BRIGHTER!


HE WILL GO DOWN IN HISTORY AS THE BIGGEST CON JOB THAT WAS EVER ELECTED TO THE PRESIDENCY, AND NOTHING MORE THAN BUSH’S THIRD and FOURTH TERM.
HIS WILL BE THE GOLDEN AGE OF WALL STREET’S LOOTING OF AMERICA DURING WHICH TIME MILLIONS OF AMERICANS LOST THEIR JOBS AND THEN WERE HANDED THE TAX BILLS TO PAY FOR OBAMA’S DONORS’ WALL STREET CRIMES!
OBAMAnomics at work for Wall Street donors:
The labor share of national income has fallen from 62 percent before the eruption of the financial crisis to around 59 percent today. With US gross domestic product at about $15 trillion, this means that some $450 billion has been gouged out of the working class to finance the further enrichment of the financial aristocracy.
 
OBAMA’S ASSAULT ON AMERICA: For Whom???
OBAMA, THE BANKSTER OWNED LA RAZA DEM
“The response of the administration was to rush to the defense of the banks. Even before coming to power, Obama expressed his unconditional support for the bailouts, which he subsequently expanded. He assembled an administration dominated by the interests of finance capital, symbolized by economic adviser Lawrence Summers and Treasury Secretary Timothy Geithner.”

The legacy of the man that punked American and called it “CHANGE” will be the unbridled looting from his bankster donors, and the staggering expansion of the LA RAZA SUPREMACY Mexican welfare state in America.

OBAMA’S WALL STREET and the LOOTING of AMERICA – SECOND TERM

“The response of the administration was to rush to the defense of the banks. Even before coming to power, Obama expressed his unconditional support for the bailouts, which he subsequently expanded. He assembled an administration dominated by the interests of finance capital, symbolized by economic adviser Lawrence Summers and Treasury Secretary Timothy Geithner.”


 
PRESIDENT BARACK OBAMA: WALL STREET’S RENT BOY!
http://mexicanoccupation.blogspot.com/2013/08/president-obama-wall-streets-rent-boy.html


DID OBAMA PUNK AMERICANS AS BADLY AS IT LOOKS NOW? OR DID WE SIMPLY NOT SEE THE “CHANGE” AS HIS WALL STREET LOOTERS AND PAYMASTERS RAN OFF WITH IT???




"There is a populist and conservative revolt against Wall Street and financial elites, Congress and government," Democratic pollster Stanley Greenberg warned in an analysis this week. "Democrats and President Obama are seen as more interested in bailing out Wall Street than helping Main Street."


OBAMA, THE BANKSTER OWNED LA RAZA DEM


“The response of the administration was to rush to the defense of the banks. Even before coming to power, Obama expressed his unconditional support for the bailouts, which he subsequently expanded. He assembled an administration dominated by the interests of finance capital, symbolized by economic adviser Lawrence Summers and Treasury Secretary Timothy Geithner.”



OBAMAnomics: FROM THE MAN THAT HATED AMERICAN BUT LOVED AMERICAN BANKSTERS:


OBAMA, THE BANKSTER OWNED LA RAZA DEM


“The response of the administration was to rush to the defense of the banks. Even before coming to power, Obama expressed his unconditional support for the bailouts, which he subsequently expanded. He assembled an administration dominated by the interests of finance capital, symbolized by economic adviser Lawrence Summers and Treasury Secretary Timothy Geithner.”

DEATH OF THE AMERICAN MIDDLE CLASS – A NATION LOOTED BY WALL STREET AND NOW RENTING…. and the rents are soaring!

President Obama's Crony Cocaine-addicted Criminal Banksters and the Mexican ... 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


 
BARACK OBAMA, LA RAZA FASCISM and the CULTURE of DEM CORRUPTION
They Destroyed Our Country
“They knew Obama was an unqualified crook; yet they promoted him. They knew Obama was a train wreck waiting to happen; yet they made him president, to the great injury of America and the world. They understood he was only a figurehead, an egomaniac, and a liar; yet they made him king, doing great harm to our republic (perhaps irreparable.)”
more at this link – post on your Facebook and email broadcast

THE OBAMA YEARS – THE GOLDEN AGE OF BANKSTER LOOTING AND BANKSTER WELFARE…

INCEST! The case of bankster-owned Barack Obama and crony Jamie Dimon of JP MORGAN… their looting continues!


OBAMA’S CRONY BANKSTERS PARTY UP AND STILL GIVE THE AMERICAN PEOPLE THE MIDDLE FINGER


'Not when those foibles had resulted in real harm to millions of people in the form of foreclosures, wrecked 401(k)s, and a devastating unemployment crisis.'

 
OBAMA and HIS CRIMINAL BANKSTERS –
THEIR CRIMES ARE MUCH WORSE THAN
WE THOUGHT!
 
 
“…and we may even have gotten a glimpse or two
of a banking system that uses computerized
insider trading programs to steal from everyone
who has an IRA or a mutual fund or any stock a
tall by manipulating markets like the NYSE”.
 
OBAMA KEEPS HIS PROMISE – NO BANKSTER DONOR GOES TO PRISON!!!
OBAMA PROMISES CRIMINAL BANKSTERS BANK of AMERICA THAT HIS BANKSTER  MAN HOLDER WILL WORK OUT A BACK ROOM DEAL.
 
Exclusive: BofA asks Holder to meet with its CEO - sources
 
1:45am EDT
NEW YORK/WASHINGTON (Reuters) - Brian Moynihan may be taking a play out of Jamie Dimon’s book.
Representatives of Bank of America Corp have asked U.S. Attorney General Eric Holder to meet with Moynihan, its chief executive officer, in an attempt to resolve differences over a possible multibillion-dollar settlement involving shoddy mortgage securities sold by the second-largest U.S. bank and its units, according to people familiar with the negotiations.
 
Negotiators for Bank of America and the Justice Department have not met in more than a week and have no plans to do so after a flurry of meetings did not bring them close to a settlement amount, sources said.
 
Bank of America spokesman Lawrence Grayson and Justice Department spokeswoman Dena Iverson declined to comment.
 
Dimon, the CEO of JPMorgan Chase & Co, took a much-ballyhooed trip to Washington in September to meet with Holder in an effort to close a deal that would allow the largest U.S. bank by assets to put its mortgage securities problems behind it.
In November, the two sides reached a $13 billion accord that Holder has said he planned to use as a template for other banks.
 
The meeting between JPMorgan’s top executive and the nation’s top law enforcement official was viewed as unusual at the time. Most such settlements are negotiated between a company's lawyers and other Justice Department officials. Associate Attorney General Tony West, the No. 3 person at the agency, has been leading negotiations with Bank of America and other banks over similar investigations.
The Department of Justice has not yet responded to Bank of America about the possibility of the meeting, sources said.
The bank requested the meeting late last week, the people said.
The settlement is intended to resolve several investigations into the bank's packaging of risky mortgages into securities. One probe involves Merrill Lynch, which Bank of America agreed to acquire at the height of the 2008 financial crisis.
Mortgage securities helped fuel the housing boom in the mid-2000s and plummeted in value at the onset of the downturn, causing hundreds of billions of dollars in losses.
 
Sources said the Justice Department's silence about a meeting between Moynihan and Holder suggested Bank of America's request was premature.
 
Bank of America has discussed paying about $12 billion, including more than $5 billion to help struggling homeowners, to resolve a range of federal and state probes, primarily into whether the company and its units defrauded mortgage bond investors in the run-up to the financial crisis, people familiar with the matter said.
 
The Justice Department suggested a $17 billion settlement in the latest round of negotiations and did not view Bank of America's offer as a serious one, one source said last week.
One sticking point is what the mix of fines and relief will be, sources said. Bank of America wants more consumer relief, they said.
 
Another issue is whether to include the bank's March settlement with the U.S. Federal Housing Finance Agency in the calculation, one person said.
 
Bank of America paid the FHFA $6.3 billion to resolve claims similar to those made by the Justice Department. JPMorgan's $13 billion deal included a $4 billion payment to the FHFA.
 
Another point of controversy for Bank of America is the extent to which it should be punished for Merrill's actions, sources said. JPMorgan had the same concerns about Bear Stearns, which it acquired in 2008.
 
The Bank of America talks are being driven by a lawsuit that the U.S. Attorney's office in New Jersey is drafting against Merrill, sources said. The Justice Department had also threatened to sue JPMorgan days before Dimon's trip to Washington.
 
The cases follow President Barack Obama's 2012 pledge to hold banks accountable for their role in the housing crisis after authorities faced criticism for little high-profile action.
In recent months, banks and their lawyers have become increasingly alarmed at the upward trajectory of financial penalties from U.S. authorities in a range of cases.
 
Executives and their allies have gotten involved in negotiations to try to reduce the penalties. Jean-Laurent Bonnafe, CEO of BNP Paribas SA, and the French bank's lawyers met in early May with New York regulators and requested leniency in settlement talks over alleged sanctions violations, a source said earlier this month. Negotiations are continuing.
(Reporting by Karen Freifeld in New York and Aruna Viswanatha in Washington; Editing by Karey Van Hall and Lisa Von Ahn)
 


 
latimes.com

Three large banks not fully complying with mortgage settlement changes

By Jim Puzzanghera

December 4, 2013

Three of the nation's largest banks are not fully complying with new standards for dealing with mortgage customers that were agreed to as part of a $25-billion settlement of foreclosure abuse allegations, the settlement's monitor said Wednesday.

In the first half of the year, Bank of America Corp., failed three of the 29 metrics designed to test compliance with 304 new mortgage servicing standards, according to a report from the Office of Mortgage Settlement Oversight.

JPMorgan Chase & Co., and Citigroup Inc. each failed two of the standards.

The other two banks that were part of the settlement, Wells Fargo & Co. and the so-called ResCap parties, formerly GMAC Mortgage and Ally Financial, did not fail any of the metrics in the first half of the year.

One measure failed by Bank of America, JPMorgan and Citigroup involved providing proper notification to customers that foreclosure proceedings were starting. Other problems by at least one bank were related to timely decisions on requests for modifications of monthly payments and short sales.

"The banks still have additional work to do in their efforts to fully comply with the National Mortgage Settlement and to regain their customers' trust," said Joseph A. Smith Jr., the settlement's monitor.

Overall, the three banks failed six metrics in the first quarter of the year and one in the second quarter.

However, that doesn't indicate improvement. Banks that failed a metric in the first quarter were required to develop plans to fix the problem and were not tested on that metric in the second quarter while those plans were being implemented, Smith said.

"The jury’s out on a lot of things," he said, noting that his office will continue testing bank compliance with the settlement's servicing requirements, and that better comparisons should come in reports next year.

"The objective in my mind is they pass them all and people out in the world experience better treatment because of it," he said of the review of servicing standards compliance.

Bank of America said it has "worked diligently" to comply with the new standards and that "none of the failed metrics resulted in inaccurate foreclosures or improper loan modification denials."

JPMorgan spokeswoman Amy Bonitatibus said the bank had "proactively addressed the monitor’s findings" and was pleased that its plans to fix the problems were approved.

Citigroup said the company "remains committed to fulfilling the terms" of the settlement and began taking steps in May to correct its problems meeting two of the metrics.

The banks must meet the new servicing standards as part of the settlement with 49 states and several federal agencies in early 2012. The settlement also required mortgage servicers to provide $20 billion in relief to consumers through principal reductions, short sales and other measures.

Based on the monitor's reviews and continued complaints from borrowers and others in the industry about mortgage servicing problems, Smith added four new metrics last month.

They include ensuring banks provide a single point of contact for mortgage problems to avoid runarounds, confirming that monthly bills are accurate, as well as instituting procedures for customers seeking mortgage modifications. The banks will not be tested on those metrics until next year.

Smith said Wednesday that the addition of those metrics and plans by the banks to correct problems on other measures had him hopeful that customers would see improved service.

"Broadly speaking, I think distressed borrowers are being treated better now than they would be if there wasn't a settlement, but I don’t think we’re finished," he said.

*

The Christian Science Monitor - CSMonitor.com

Robert Reich


JP Morgan Chase, the Foreign Corruption Practice Act and the corruption of America


JP Morgan Chase is facing serious scrutiny for bribing Chinese officials. But why is this different from other big banks bribing U.S. government officials? It shouldn't be, Reich argues. Corruption is corruption and bribery is bribery, regardless of international borders, he says. 

http://www.csmonitor.com/var/ezflow_site/storage/images/media/content/2013/1209-corruption/17609019-1-eng-US/1209-corruption_full_380.jpg
The headquarters of JP Morgan Chase & Co are seen in New York. JP Morgan Chase is facing scrutiny for breaking the Foreign Corrupt Practices Act. There ought to be a Domestic Corrupt Practices Act, Reich argues, that prevents the bribing of domestic officials, too.
(Mike Segar/Reuters/File)




By Robert Reich

posted December 9, 2013 at 4:00 pm EST

The Justice Department has just obtained documents showing thatJPMorgan Chase, Wall Street’s biggest bank, has been hiring the children of China’s ruling elite in order to secure “existing and potential business opportunities” from Chinese government-run companies. “You all know I have always been a big believer of the Sons and Daughters program,” says one JP Morgan executive in an email, because “it almost has a linear relationship” to winning assignments to advise Chinese companies. The documents even include spreadsheets that list the bank’s “track record” for converting hires into business deals.


It’s a serious offense. But let’s get real. How different is bribing China’s “princelings,” as they’re called there, from Wall Street’s ongoing program of hiring departing U.S. Treasury officials, presumably in order to grease the wheels of official Washington? Timothy Geithner, Obama’s first Treasury Secretary, is now president of the private-equity firm Warburg Pincus; Obama’s budget director Peter Orszag is now a top executive at Citigroup.

Or, for that matter, how different is what JP Morgan did in China from Wall Street’s habit of hiring the children of powerful American politicians? (I don’t mean to suggest Chelsea Clinton got her hedge-fund job at Avenue Capital LLC, where she worked from 2006 to 2009, on the basis of anything other than her financial talents.) 

And how much worse is JP Morgan’s putative offense in China than the torrent of money JP Morgan and every other major Wall Street bank is pouring into the campaign coffers of American politicians — making the Street one of the major backers of Democrats as well as Republicans?

The Foreign Corrupt Practices Act, under which JP Morgan could be indicted for the favors it has bestowed in China, is quite strict. It prohibits American companies from paying money or offering anything of value to foreign officials for the purpose of “securing any improper advantage.” Hiring one of their children can certainly qualify as a gift, even without any direct benefit to the official.

JP Morgan couldn’t even defend itself by arguing it didn’t make any particular deal or get any specific advantage as a result of the hires. Under the Act, the gift doesn’t have to be linked to any particular benefit to the American firm as long as it’s intended to generate an advantage its competitors don’t enjoy.

RECOMMENDED: Monitor Frontier Markets Free Trial. Intelligent analysis on events in frontier/emerging countries.

Compared to this, corruption of American officials is a breeze. Consider, for example, Countrywide Financial’s generous “Friends of Angelo” lending program, named after its chief executive, Angelo R. Mozilo, that gave discounted mortgages to influential members of Congress and their staffs before the housing bubble burst. No criminal or civil charges have ever been filed related to these loans.

Even before the Supreme Court’s shameful 2010 “Citizens United” decision — equating corporations with human beings under the First Amendment, and thereby shielding much corporate political spending – Republican appointees to the Court had done everything they could to blunt anti-bribery laws in the United States. In 1999, in “United States v. Sun-Diamond Growers,” Justice Scalia, writing for the Court, interpreted an anti-bribery law so loosely as to allow corporations to give gifts to public officials unless the gifts are linked to specific policies.

We don’t even require that American corporations disclose to their own shareholders the largesse they bestow on our politicians. Last year around this time, when the Securities and Exchange Commission released its 2013 to-do list, it signaled it might formally propose a rule to require corporations to disclose their political spending. The idea had attracted more than 600,000 mostly favorable comments from the public, a record response for the agency.

But the idea mysteriously slipped off the 2014 agenda released last week, without explanation. Could it have anything to do with the fact that, soon after becoming SEC chair last April, Mary Jo White was pressed by Republican lawmakers to abandon the idea, which was fiercely opposed by business groups.

The Foreign Corrupt Practices Act is important, and JP Morgan should be nailed for bribing Chinese officials. But, if you’ll pardon me for asking, why isn’t there a Domestic Corrupt Practices Act?

Never before has so much U.S. corporate and Wall-Street money poured into our nation’s capital, as well as into our state capitals. Never before have so many Washington officials taken jobs in corporations, lobbying firms, trade associations, and on the Street immediately after leaving office. Our democracy is drowning in big money.

Corruption is corruption, and bribery is bribery, in whatever country or language it’s transacted in.