Both of Obama’s Attorney Generals, Eric Holder
and Loretta Lynch, were chosen by the banks because they were from law firms
that had long protected big banks from their victims.
A key factor in Obama’s
newfound and growing wealth are those who profited from his presidency. A
number of his public speeches have been given to big Wall Street firms and
investors. Obama has given at least nine speeches to Cantor Fitzgerald, a large
investment and commercial real estate firm, and other high-end corporations.
According to records, each speech has been at least $400,000 a clip.
In May 2012,
only days after JPMorgan Chase’s Jamie Dimon revealed that his bank had
lost billions of dollars in speculative bets, President Barack Obama
publicly defended the multi-
millionaire
CEO, calling him “one of the smartest bankers we’ve got.” What Obama did
not mention is that Dimon is a criminal.
“This was not because of
difficulties in securing indictments or convictions. On the contrary, Attorney
General Eric Holder told a Senate committee in March of 2013 that the Obama
administration chose not to prosecute the big banks or their CEOs because to do
so might “have a negative impact on the national economy.”
OBAMA CRONY DONORS Goldman Sachs, JPMorgan Chase,
Bank of America and every other major US bank have been implicated in a web of
scandals, including the sale of toxic mortgage securities on false pretenses,
the rigging of international interest rates and global foreign exchange
markets, the laundering of Mexican drug money, accounting fraud and lying to
bank regulators, illegally foreclosing on the homes of delinquent borrowers,
credit card fraud, illegal debt-collection practices, rigging of energy
markets, and complicity in the Bernie Madoff Ponzi scheme.
THE LONG HISTORY of BARACK
OBAMA and HIS CRIMINAL
BANKSTER DONORS JP MORGAN…
STILL LOOTING AMERICA
AND THE WORLD!
This is the
unadulterated voice of finance capital speaking. It should be recalled that
JPMorgan is deeply implicated in the speculative operations that have
devastated the lives of hundreds of millions of workers around the world. In
March of this year, a US Senate committee released a 300-page report documenting
the criminal practices and fraud carried out by JPMorgan, the largest bank in
the US and the world’s biggest dealer in derivatives. Despite the detailed
revelations in the report, no action will be taken against the bank’s CEO,
Jamie who enjoys the personal confidence of the US president.
assault on America – THE OBAMA – JP MORGAN
Rather than
Hope and Change, Obama is delivering corporate socialism to America, all while
claiming he’s battling corporate America. It’s corporate welfare and regulatory
robbery—it’s Obamanomics.
“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).”
Why aren’t the Wall Street criminals
prosecuted?
In May 2012, only days after JPMorgan Chase’s
Jamie Dimon revealed that his bank had lost billions of dollars in speculative
bets, President Barack Obama publicly defended the multi-millionaire CEO,
calling him “one of the smartest bankers we’ve got.” What Obama did not mention
is that Dimon is a criminal.
JPMorgan is not the exception; it is the rule.
Virtually every major bank that operates on Wall Street has settled charges of
fraud and criminality on a staggering scale. In 2011, the Senate Permanent
Subcommittee on Investigations released a 630-page report on the financial
crash of 2008 documenting what the committee chairman called “a financial snake
pit rife with greed, conflicts of interest and wrongdoing.”
These multiple crimes by serial lawbreakers have
had very real and very destructive consequences. The entire world has been
plunged into an economic slump that has already lasted more than five years and
shows no signs of abating. Tens of millions of families have lost their homes
as a result of predatory mortgages pushed by JPMorgan and other Wall Street
banks.
INCEST! The
case of bankster-owned Barack
Obama and
crony Jamie Dimon of JP
MORGAN…
their looting continues!
INCEST! THE CASE
OF BANKSTER-OWNED BARACK OBAMA and CRONY JAMIE DIMON
- White House
sued for covering up crimes of JPMorgan
White House sued
for covering up crimes of JPMorgan
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.'
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.
Sanders called
JPMorgan’s CEO America’s "biggest corporate socialist" — here’s why
he has a point
Sen.
Bernie Sanders called JPMorgan CEO Jamie Dimon the “biggest corporate socialist
in America today” in recent ad
FEBRUARY 13, 2020 9:59AM (UTC)
He may have a point — beyond what he intended.
With his Dimon ad, Sanders is referring specifically to
the bailouts JPMorgan and other banks
took from the government during the 2008 financial crisis. But accepting
government bailouts and corporate welfare is not the only way I believe
American companies behave like closet socialists despite their professed love
of free markets.
In reality, most big U.S. companies operate internally in
ways Karl Marx would applaud as remarkably close to socialist-style central
planning. Not only that, corporate America has arguably become a laboratory of
innovation in socialist governance, as I show in my own research.
Closet socialists
In public, CEOs like Dimon attack socialist
planning while defending free markets.
But inside JPMorgan and most other big corporations, market
competition is subordinated to planning. These big companies often contain
dozens of business units and sometimes thousands. Instead of letting these
units compete among themselves, CEOs typically direct a strategic planning
process to
ensure they cooperate to achieve the best outcomes for the corporation as a whole.
This is just how a socialist economy is intended to operate. The
government would conduct economy-wide planning and set goals for each industry
and enterprise, aiming to achieve the best outcome for society as a whole.
And just as companies rely internally on planned cooperation to
meet goals and overcome challenges, the U.S. economy could use this harmony to
overcome the existential crisis of our age — climate change. It's a
challenge so massive and urgent that it will require every part of the
economy to
work together with government in order to address it.
Overcoming socialism's past problems
But, of course, socialism doesn't have a good track record.
One of the reasons socialist planning failed in the old Soviet
Union, for example, was that it was so top-down that it lacked
the kind of popular legitimacy that democracy grants a government. As a result,
bureaucrats overseeing the planning process could not get reliable information
about the real opportunities and challenges experienced by enterprises or
citizens.
Moreover, enterprises had little incentive to strive to meet
their assigned objectives, especially when they had so little involvement in
formulating them.
A second reason the USSR didn't survive was that its authoritarian
system failed to motivate either workers or
entrepreneurs. As a result, even though the government funded basic science
generously, Soviet industry was a laggard in innovation.
Ironically, corporations — those singular products of
capitalism — are showing how these and other problems of socialist planning
can be surmounted.
Take the problem of democratic legitimacy. Some companies, such
as General Electric, Kaiser Permanente and General Motors, have developed
innovative ways to avoid the dysfunctions of autocratic planning by using techniques that enable
lower-level personnel to participate actively in the strategy process.
Although profit pressures often force top managers to
short-circuit the promised participation, when successfully integrated it not
only provides top management with more reliable bottom-up input for strategic
planning but also makes all employees more reliable partners in carrying it
out.
So here we have centralization — not in the more familiar,
autocratic model, but rather in a form I call "participative
centralization." In a socialist system, this approach could be adopted,
adapted and scaled up to support economy-wide planning, ensuring that it was
both democratic and effective.
As for motivating innovation, America's big businesses face a
challenge similar to that of socialism. They need employees to be collectivist,
so they willingly comply with policies and procedures. But they need them to be
simultaneously individualistic, to fuel divergent thinking and creativity.
One common solution in much of corporate America, as in the old
Soviet Union, is to specialize those roles, with most people
relegated to routine tasks while the privileged few work on innovation tasks. That
approach, however, overlooks the creative capacities of the vast majority
and leads to widespread
employee disengagement and sub-par business performance.
While socialists have often
recoiled against
the idea individual performance-based rewards, these more sophisticated
policies could be scaled up to the entire economy to help meet socialism's
innovation and motivation challenge.
Big problems require big government
The idea of such a socialist transformation in the U.S. may seem
remote today.
But this can change, particularly as more Americans, especially
young ones, embrace socialism. One reason they are
doing so is because the current capitalist system has so manifestly failed to
deal with climate change.
Looking inside these companies suggests a better way forward
— and hope for society's ability to avert catastrophe.
This article is republished from The Conversation under a Creative Commons license.
Why aren’t the Wall Street criminals prosecuted?
In May 2012, only days after JPMorgan Chase’s Jamie Dimon revealed
that his bank had lost billions of dollars in speculative bets, President
Barack Obama publicly defended the multi-millionaire CEO, calling him “one of
the smartest bankers we’ve got.” What Obama did not mention is that Dimon is a
criminal.
JPMorgan
is not the exception; it is the rule. Virtually every major bank that operates
on Wall Street has settled charges of fraud and criminality on a staggering
scale. In 2011, the Senate Permanent Subcommittee on Investigations released a
630-page report on the financial crash of 2008 documenting what the committee
chairman called “a financial snake pit rife with greed, conflicts of interest
and wrongdoing.”
These
multiple crimes by serial lawbreakers have had very real and very destructive
consequences. The entire world has been plunged into an economic slump that has
already lasted more than five years and shows no signs of abating. Tens of
millions of families have lost their homes as a result of predatory mortgages
pushed by JPMorgan and other Wall Street banks.
Amid poverty wages and tax cuts
for the rich
"This
decades-long ruling class offensive was accelerated in response to the 2008
financial crisis. President Barack Obama oversaw the channeling of trillions of
dollars to the banks and financial markets in order to pay off the debts of the
bankers and speculators, whose reckless and criminal activities had led to the
crisis, and make them richer than ever. At the same time, he imposed a
restructuring of the auto industry based on a 50 percent across-the-board pay
cut for new-hires and an expansion of temporary and part-time labor,"
The devastating human cost of the plundering of society by the
corporate-financial oligarchy is registered in declining life
expectancy, rising mortality and record suicide and drug addiction
rates.
BARACK
OBAMA AND HIS CRONY BANKSTERS set themselves on America’s pensions next!
The
new aristocrats, like the lords of old, are not bound by the laws that apply to
the lower orders. Voluminous reports have been issued by Congress and
government panels documenting systematic fraud and law breaking carried out by
the biggest banks both before and after the Wall Street crash of 2008.
Goldman Sachs, JPMorgan Chase, Bank of America and every
other major US bank have been implicated in a web of scandals, including the
sale of toxic mortgage securities on false pretenses, the rigging of
international interest rates and global foreign exchange markets, the
laundering of Mexican drug money, accounting fraud and lying to bank
regulators, illegally foreclosing on the homes of delinquent borrowers, credit
card fraud, illegal debt-collection practices, rigging of energy markets, and
complicity in the Bernie Madoff Ponzi scheme.
JPMorgan Chase records the biggest profit of any bank in US history
JPMorgan Chase, the most valuable private bank in the world,
made $36.4 billion in 2019, the biggest annual profit of any bank in American
history. The news, reported Tuesday, sent the company’s stock up by 2 percent.
In the fourth quarter of 2019, the company took in $8.5 billion, also a record,
making it the tenth largest publicly traded company in the world, with a market
cap of $437 billion.
JPMorgan Chase’s record profits were joined by Morgan Stanley,
which also reported both record profits and record revenues for 2019, sending
its stock price surging 6.6 percent on Thursday.
News of these record gains came as the six largest US banks
revealed that they saved a combined $32 billion last year from President Donald
Trump’s 2017 corporate tax cut. The tax windfall was up from 2018 for all but
one of the banks. JPMorgan’s tax cut went from $3.7 billion in 2018 to $5
billion last year.
At Wednesday’s signing ceremony for the phase one trade deal
with China, attended by an array of corporate executives, Trump turned to Mary
Erdoes, a top executive at JPMorgan Chase. Calling the bank’s earnings report
“incredible,” he joked, “Will you say, ‘Thank you, Mr. President,’ at least?”
The tax cuts for the corporations and the rich,
enacted with only token opposition from the
Democrats, are only one factor in the surge
in profits over the past year. When stocks
plunged at the end of 2018, Trump stepped
up his demand that the Federal Reserve
reverse its policy of gradually raising interest
rates to more normal levels, following years
of near-zero rates in the aftermath of the 2008
financial crisis. Acting as the mouthpiece of
Wall Street, he demanded that the Fed begin
cutting rates once again in order to pump
more cash into the financial markets.
Fed Chairman Jerome Powell dutifully complied, cutting interest
rates three times in 2018 and assuring the markets that he had no intention of
raising them again any time soon. Then, beginning in the late fall, the Fed
began pumping tens of billions of dollars a week into the so-called “repo”
overnight loan market, resuming the money-printing operation known as
“quantitative easing.”
This de facto guarantee of unlimited public funds to backstop
stock prices has produced record highs on all of the major US indexes, sending
billions more into the private coffers of the rich and the super-rich.
These measures are a continuation and intensification of
policies carried out on a bipartisan basis for four decades to redistribute
wealth from the working class to the corporations and the financial elite. They
have effected a fundamental restructuring of class relations in America,
drastically lowering the social position of the working class. Decent-paying,
secure jobs have been wiped out and largely replaced by poverty-wage,
part-time, temporary and contingent employment—the so-called “gig” economy exemplified
by corporations such as Amazon and Uber.
This decades-long ruling class offensive was accelerated in
response to the 2008 financial crisis. President Barack Obama oversaw the
channeling of trillions of dollars to the banks and financial markets in order
to pay off the debts of the bankers and speculators, whose reckless and
criminal activities had led to the crisis, and make them richer than ever. At
the same time, he imposed a restructuring of the auto industry based on a 50
percent across-the-board pay cut for new-hires and an expansion of temporary
and part-time labor.
The United Auto Workers (UAW) has actively participated in this
process, enshrining the new “flexible” labor system in sellout contracts in
2015 and 2019. This template of expendable, benefits-free labor has become the
new norm for labor relations across the country and throughout the world.
Meanwhile, state, local and federal government programs have
been dramatically slashed. Education, housing, Medicaid and food stamps have
been particularly hard hit. This process has been accelerated under Trump,
along with the removal of occupational safety and environmental regulations,
with no opposition from the Democrats, who represent sections of the financial
elite and wealthy upper-middle class.
The devastating human cost of the plundering
of society by the corporate-financial oligarchy
is registered in declining life expectancy,
rising mortality and record suicide and drug
addiction rates. A recent study by the
Brookings
Institution found that 53 million people in the US—44
percent of
all workers—“earn barely enough to live on.” The study found
that
the median pay of this group was $10.22 per hour, around
$18,000 a year. Thirty seven percent of those making $10
an
hour have children. More than half are the primary earners
or
“contribute substantially” to family income.
Similarly, a Reuters report from 2018 found that the average
income of the bottom 40 percent of workers in the United States was $11,600.
A recent study by Trust for America’s Health found that in
2017 “more than 152,000 Americans died from alcohol- and drug-induced fatalities
and suicide.” This was highest number ever recorded and more than double the
figure for 1999. Among those in their 20s and early 30s, the prime working life
age, drug deaths have increased more than 400 percent in the last 20 years.
At the other pole of society, the Dow Jones Industrial index is
now double what it was at its peak in 2007, prior to the implosion of the
financial system. Between March 2009 and today, the Dow has risen from 6,500 to
over 29,000. The stock market, buttressed by central bank and government
policy, has become the central instrument for funneling wealth from the bottom
of society to the top. As a result, the top 10 percent of society now owns
about 70 percent of all wealth, whereas the bottom 50 percent has, effectively,
nothing.
In the midst of this orgy of wealth accumulation at the very top
of society, every demand of workers for jobs, decent pay, education, housing,
health care and pensions is met with the universal response: “There is no
money.” Hundreds of thousands of teachers have struck over the past two years
to demand the restoration of funds cut from the public schools and substantial
increases in pay and benefits. None of their demands have been met. The same
applies to auto workers who struck for 40 days last fall to demand an end to
two-tier pay systems and the defense of jobs.
JPMorgan’s $36.4 billion profit in 2019 is more than half the
education budget of the US federal government.
Meanwhile, Americans are deeper in debt to JPMorgan and the
other banks than at any time in history. Collective consumer debt in the United
States approached $14 trillion last year. Credit card debt has surpassed $1
trillion for the first time. Auto debt is at $1.3 trillion and mortgage debt is
now $9.4 trillion. Student loan debt has increased the fastest, surging from
$500 billion in 2006 to $1.6 trillion today.
These are the conditions, rooted in the historical bankruptcy
and crisis of the capitalist system, that have sparked a global upsurge in the
class struggle and the growth of anti-capitalist and pro-socialist sentiment.
The past year has seen a dramatic expansion of working class struggle that is
only a glimpse of what is to come. India, Hong Kong, Mexico, the United States,
Puerto Rico, Lebanon, Iraq, France, Chile and Brazil are only some of the
places where mass struggles have erupted.
What is becoming increasingly clear to hundreds of millions of
people around the world is that the social problems confronting humanity in the
21st century—poverty, debt, disease, global warming, war, fascism, the assault
on democratic rights—cannot be solved so long as this parasitic and
oligarchical financial elite continues to rule. The turn is to the American and
international working class—to unite, take power and seize control of the
wealth which it produces to ensure peace, prosperity and equality for all
people.
PRITZKER -
OBAMA ADDS TO HIS HAREM OF CORRUPT BANKSTERS
THE BANKSTER-OWNED PRESIDENT
(THE LIST BELOW, WHICH DOESN’T MENTION TIM GEITHNER IS ONLY
A DROP ON THE BOTTOMLESS BUCKET OF BANKSTER CRIMINALS EMPLOYED BY BARACK OBAMA)
If
confirmed, Pritzker will join a cabinet that includes Kerry and Treasury
Secretary Jacob Lew, who earned millions of dollars as an executive at
Citigroup by betting against the housing market as it collapsed. Mary Jo White,
Obama’s chairman of the Security and Exchange Commission (SEC)—the federal
agency tasked with regulating the exchange of stocks and other securities—made
millions as an attorney for banks including Bank of America and JP Morgan during
the financial crash
PRITZKER - OBAMA ADDS TO HIS HAREM OF
CORRUPT BANKSTERS
THE BANKSTER-OWNED
PRESIDENT
(THE LIST BELOW,
WHICH DOESN’T MENTION TIM GEITHNER IS ONLY A DROP ON THE BOTTOMLESS BUCKET OF
BANKSTER CRIMINALS EMPLOYED BY BARACK OBAMA)
If confirmed, Pritzker will join a
cabinet that includes Kerry and Treasury Secretary Jacob Lew, who earned
millions of dollars as an executive at Citigroup by betting against the housing
market as it collapsed. Mary Jo White, Obama’s chairman of the Security and
Exchange Commission (SEC)—the federal agency tasked with regulating the
exchange of stocks and other securities—made millions as an attorney for banks
including Bank of America and JP Morgan during the financial crash
OBAMA’S CRONY CAPITALISM – A NATION RULED BY CRIMINAL WALL
STREET BANKSTERS AND OBAMA DONORS
Culture of Corruption: Obama and His Team of Tax Cheats,
Crooks, and Cronies
by Michelle Malkin
Editorial Reviews
In her shocking new book, Malkin digs deep into the records
of President Obama's staff, revealing corrupt dealings, questionable pasts, and
abuses of power throughout his administration.
OBAMA
HAS ALWAYS SERVED THE BILLIONAIRES AND BANKSTERS CLASS. It’s the rest of us who
get the tax bills for their crimes, bailouts and handouts!
Senators
forgive Penny Pritzker’s $80 million “mistake”
By Zac Corrigan
On the eve of her confirmation hearing, President Obama’s
nominee for commerce secretary, Penny Pritzker, admitted that she had
underreported her 2012 income to the tune of $80 million, blaming a clerical
error. Pritzker is worth an estimated $1.85 billion and would become the
wealthiest US cabinet member in history. Her nomination underscores the
increasingly plutocratic character of the Obama administration and the US
government at large.
The $80 million in earnings that had been omitted were
related to Pritzker’s role managing trust funds—financial instruments used by
wealthy families to control vast sums of money across generations—and $54
million of it was related to an offshore fund based in the Bahamas. This
admission comes in the wake of a recent study showing that as of 2012, wealthy
Americans are hoarding up to $32 trillion in offshore accounts to avoid paying
taxes.
Pritzker has played an important role in the Democratic
Party’s own finances for years. She was the chair of Obama’s 2008 campaign
finance team, which raised over $778 million, a record at the time. She went on
to co-chair—along with Chicago Mayor and former Obama chief of staff Rahm
Emanuel—the president’s 2012 re-election campaign, which raised over $1
billion. She contributed $250,000 to Obama’s 2013 inauguration festivities. She
is also a member of Obama’s Jobs Council, which advises the president on
economic matters.
Pritzker’s record shows that Obama could hardly have picked
someone more versed in the intricacies of modern financial swindling, nor more
deeply immersed in the opulent world of the global elite, to “foster, promote,
and develop the foreign and domestic commerce”—such is the stated mission of
the US Department of Commerce which she will head, pending congressional
approval.
To begin with, Pritzker’s family is one of the wealthiest in
Chicago. She is heiress to the Hyatt hotels fortune. She is a director of Hyatt
Hotels Corp, which operates the luxury hotel chain and nursing homes, and whose
profits are based on low-wage service work. A 53-year-old Hyatt hotel
housekeeper who attended the hearing told the Chicago Tribune that she cleans
16 rooms a day for $14.60 an hour with no paid lunch break, and is working
under an expired contract.
Especially scandalous is Pritzker’s involvement in the 2001
collapse of Superior Bank of Chicago, where as CEO she pioneered the predatory
subprime lending practices that would lead to the financial crash of 2008. In
May of 2001, Pritzker told bank employees in a written letter, “Our commitment
to subprime lending has never been stronger and we are fully expecting to
participate in restoring the bank’s presence.”
Two months later, Superior was closed and its $1.1 billion in
paper assets were sold for $52 million to Charter One Financial, Inc.
Depositors collectively lost millions of dollars that will never be repaid,
while Pritzker and family nonetheless pocketed close to $200 million during
their ownership of the bank.
When Senator John Thune (R-South Dakota) broached the subject
of Superior at Thursday’s confirmation hearing, Pritzker’s crocodile tears
seemed to satisfy. “I regret the failure of Superior Bank,” she said, calling
it a situation she felt “very badly about.” Thune later commented, “I’m very
impressed with her qualifications,” and told reporters he expected the
committee to vote in favor of her nomination.
Pritzker was treated with kid gloves by senators at the
hearing. When Illinois senators Dick Durbin (D) and Mark Kirk (R ) introduced
her to the committee before the hearing, Kirk called her “a vibrant part of the
Jewish world,” and Durbin noted admiringly that not only had she “inherited a
few dollars,” but also she had “made a few dollars in her life.” Other senators
who praised Pritzker during and after the hearing include Ted Cruz (R-Texas)
who called her an “enthusiastic and unapologetic advocate of free trade,” and
Roy Blunt (R-Missouri) who told the hotel heiress, “You know more about
[foreign tourism] than most anyone else in this room.”
It is no mystery why senators from both parties are so
enamored. Over half of them are millionaires, some many times over. In 2011,
the median net worth of the Senate was $2.63 million. The chair of the Senate
committee reviewing her nomination is Jay Rockefeller (D-West Virginia),
great-grandson of Standard Oil tycoon John D. Rockefeller, net worth $86
million. John Kerry, who left the senate in February to become Obama’s new secretary
of state, is worth many hundreds of millions through his wife’s inheritance of
the Heinz Foods fortune.
This is a government of and for the rich. In an epoch of
historic and ever-increasing levels of social inequality, profit is more and
more acquired through risky financial speculation increasingly divorced from
the production of real value. In politics, the ruling elite no longer feels it
necessary to give lip service to government “of, by and for the people,” and
multimillionaires and billionaires take on direct responsibility for running
the government, setting policy and making and enforcing regulations.
THE BANKSTER-OWNED PRESIDENT
If confirmed, Pritzker will join a cabinet that includes
Kerry and Treasury Secretary Jacob Lew, who earned millions of dollars as an
executive at Citigroup by betting against the housing market as it collapsed.
Mary Jo White, Obama’s chairman of the Security and Exchange Commission
(SEC)—the federal agency tasked with regulating the exchange of stocks and
other securities—made millions as an attorney for banks including Bank of
America and JP Morgan during the financial crash
Pritzker of
the 1% serving Obama serve the 1%. THE INCEST OF OBAMA AND HIS CRONY CAPITALIST
OBAMA and
his culture of BANKSTER LOOTING of America.
Is Penny
Pritzker Obama’s newest BRIBESTER BANKSTER?
Obama warns
against “cynicism” at Ohio State commencement address
“Pritzker
has garnered broad support from Democrats and groups such as the U.S. Chamber
of Commerce and the Business Roundtable.”... these entities endorse Obama's
assault on the American worker, our borders for more illegals, the Obama
amnesty hoax to keep wages depressed and NO E-VERIFY!
PRITZKER IS ALL THE ABOVE!
“Pritzker has garnered broad support from Democrats and
groups such as the U.S. Chamber of Commerce and the Business Roundtable.”
OBAMA’S
BILLIONAIRE NOMINEE FOR COMMERCE, PENNY PRITZKER… BILLION$$$$ MADE OFF HIRING
CHEAP ILLEGAL LABOR??? show me even one dem billionaire that does not push for
Obama’s agenda of OPEN BORDERS, NO E-VERIFY and NO ENFORCEMENT of LAWS
PROHIBITING THE EMPLOYMENT of ILLEGALS…even one!
Based in
Chicago, Pritzker operates an international empire based on low-wage service
work in Hyatt-operated hotels and nursing homes, along with several investment
firms.
Pritzker has
garnered broad support from Democrats and groups such as the U.S. Chamber of
Commerce and the Business Roundtable.”... these entities endorse Obama's
assault on the American worker, our borders for more illegals, the Obama
amnesty hoax to keep wages depressed and NO E-VERIFY!
PRITZKER IS ALL THE ABOVE!
ARE AMAZED AT HOW UTTERLY BRAZEN THESE CORPORATE OWNED
POLITICIANS ARE?
GET THIS BOOK!
Culture of
Corruption: Obama and His Team of Tax Cheats, Crooks, and Cronies
by Michelle Malkin
Editorial Reviews
In her
shocking new book, Malkin digs deep into the records of President Obama's
staff, revealing corrupt dealings, questionable pasts, and abuses of power
throughout his administration.
From the
Inside Flap
The era of
hope and change is dead....and it only took six months in office to kill it.
Never has an
administration taken office with more inflated expectations of turning
Washington around. Never have a media-anointed American Idol and his entourage
fallen so fast and hard. In her latest investigative tour de force, New York
Times bestselling author Michelle Malkin delivers a powerful, damning, and
comprehensive indictment of the culture of corruption that surrounds Team
Obama's brazen tax evaders, Wall Street cronies, petty crooks, slum lords, and
business-as-usual influence peddlers. In Culture of Corruption, Malkin reveals:
* Why nepotism beneficiaries First Lady Michelle Obama and
Vice President Joe Biden are Team Obama's biggest liberal hypocrites--bashing
the corporate world and influence-peddling industries from which they and their
relatives have benefited mightily
* What
secrets the ethics-deficient members of Obama's cabinet--including Hillary
Clinton--are trying to hide
* Why the
Obama White House has more power-hungry, unaccountable "czars" than
any other administration
* How Team
Obama's first one hundred days of appointments became a litany of
embarrassments as would-be appointee after would-be appointee was exposed as a
tax cheat or had to withdraw for other reasons
* How
Obama's old ACORN and union cronies have squandered millions of taxpayer
dollars and dues money to enrich themselves and expand their power
* How Obama's Wall Street money men and corporate lobbyists
are ruining the economy and helping their friends In Culture of Corruption,
Michelle Malkin lays bare the Obama administration's seamy underside that the
liberal media would rather keep hidden.
• ISBN-10:
1596981091
• ISBN-13: 978-1596981096
Michelle Malkin
No Shady
Banking Buddy Left Behind
First Lady Michelle Obama's latest overseas jaunt is getting
all the headlines. But President Obama's money-grubbing junket to Chicago may
cost taxpayers far more in the long run. With his Gaultier-clad wife sashaying
around the Spanish seaside, the lonely fundraiser-in-chief returned to Illinois
to take care of some birthday-week business. Job One: Filling the Senate
campaign coffers of his corruption-tainted political protege Alexi Giannoulias.
Mission accomplished. Obama's Thursday afternoon campaign
event for Giannoulias, the beleaguered state treasurer of Illinois, reportedly
raked in $1 million. Lagging behind his GOP opponent, liberal Republican Rep.
Mark Kirk, Giannoulias has coveted one-on-one, grip-and-grin time with Obama
for months. In addition to the cash, photo-ops and video of the Obama
fundraising event that Giannoulias will milk from now until Election Day, the
White House has dispatched Vice President Joe Biden, White House senior adviser
David Axelrod and White House campaign management guru David Plouffe to boost
Giannoulias' bid. Plouffe proclaimed Democrats "all in" for
Giannoulias, whom he described as "a great progressive champion."
Obama gave his own personal seal of ethical approval, telling
deep-pocketed donors this week: "I appreciate his strong sense of advocacy
for ordinary Americans. You can trust him -- you can count on him."
Uh-huh. And I've got a bridge to Hope and Change to sell you.
What would Giannoulias know about "ordinary
Americans"? Giannoulias, 34, befriended Obama during pickup basketball
games with an elite group that also included Michelle Obama's brother, Craig;
Chicago edu-crat Arne Duncan (now Education Secretary); and hedge fund manager
John Rogers (the ex-husband of the Obamas' ex-White House social secretary,
Desiree Rogers). He spread his wealth and influence around early and often to
support Obama's fledgling political career. He pitched in $7,000 in 2003-2004
to Obama's Illinois State Senate bids. He hosted fundraisers for Obama's U.S.
Senate campaign in 2004 and for his presidential campaign in 2007.
Where'd the cash come from? Giannoulias' Greek immigrant
family founded Chicago-based Broadway Bank, a now-defunct financial institution
that loaned tens of millions of dollars to convicted mafia felons and faced
bankruptcy after decades of engaging in risky, high-flying behavior. It's the
place where Obama parked his 2004 U.S. Senate campaign funds. And it's the
same place where a mutual friend of Obama and Giannoulias -- convicted Obama
fundraiser/slum lord Tony Rezko -- used to bounce nearly $500,000 in bad checks
written to Las Vegas casinos. This week, the Chicago Sun-Times revealed an
additional $22.75 million Broadway Bank loan to a Rezko-owned business in 2006.
Giannoulias held an ownership stake in the bank at the time.
Giannoulias served as Broadway Bank vice president and senior
loan officer for four years. According to the Chicago Tribune, during
Giannoulias' tenure, some $27 million of Broadway Bank's funny money went to
mob crooks Michael "Jaws" Giorango and Demitri Stavropoulos. Giorango
is a hustler who fronted a nationwide prostitution ring and was sentenced to
six months in prison; Stavropoulos is behind bars for operating a multistate
bookmaking ring. Giorango ran the $400-an-hour call girl operation out of
high-rise luxury apartments in Chicago with the infamous "Gold Coast
Madam," Rose Laws. Giorango and Stavropoulos used their Broadway Bank loans
to start their own risky lending business for nontraditional borrowers unable
to secure traditional bank financing.
Despite Giorango's criminal record exposed by the Tribune in
2004, Broadway Bank approved massive mortgages for him. Giannoulias' brother,
Demetris, explained that as a "relationship bank," Broadway wouldn't
just throw someone under the bus because of a "bad article." Instead,
the bank went ahead and rubber-stamped a September 2005 loan for $3.4 million
to buy a 32-unit Los Angeles apartment complex. The application falsely stated
that the borrower, Giorango, had "not been convicted of a felony."
Giannoulias oversaw the servicing of such shady loans totaling $11 million.
Remember: He was no low-level staffer. He was, as he reminded supporters when
he needed to deflect attention away from his youth, top management at Broadway
Bank.
In January 2010, the bank entered a consent decree with
federal and Illinois state regulators. It required Broadway Bank "to raise
tens of millions in capital, stop paying dividends to the family without
regulatory approval, and hire an outside party to evaluate the bank's senior
management." The city's former inspector general blasted Giannoulias and
his family for tapping $70 million worth of dividends in 2007 and 2008 as the
real estate crash loomed. Broadway Bank was sitting on an estimated $250 million
in bad loans. In late April, federal regulators shut it down. Cost to
taxpayers: an estimated $390 million. Giannoulias refused to drop out of the
race -- and instead used the company failure to argue that it made him (SET
ITAL) more (END ITAL) qualified to serve in office: "I have a renewed
vigor and a new perspective on just how horrible it is out there for so many
people."
President Obama agrees: Abysmal failure should be rewarded
with promotion. He's leaving no shady banking buddy behind.
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