October 20, 2011
— Ace Well, I mean, we all benefited from the bailouts, right?
But I mean these guys benefited more than most.
Multiple directors or former directors of the Federal Reserve banks who played a key role in the 2008 bailouts had an apparent conflict of interest, according to a Government Accountability Office (GAO) report. These directors had business relationships with companies and banks that received large infusions of government money.The office of Sen. Bernie Sanders, I-Vt., who caucuses with the Democrats, noted that the report did not name any names, "but unambiguously described several individual cases involving Fed directors that created the appearance of a conflict of interest." The group of 18 people connected to both the Federal Reserve and a bailed out company included: the CEO of General Electric, Jeffrey Immelt (who is now President Obama's jobs czar); Stephen Friedman of Goldman Sachs Group Inc.; and Jamie Dimon, the CEO of JP Morgan Chase.
Here's Jamie Dimon's connection to Obama, per Wikipedia:
Federal TARP Funds
As JPMorgan Chase's Chairman, President & CEO, Dimon oversaw the transfer of $25 billion in bailout funds from the US Treasury Department to JPMorgan Chase on October 28, 2008 via the Troubled Asset Relief Program (TARP).[16] This was the fifth largest amount transferred under Section A of TARP[17] to help troubled assets related to residential mortgages. It has been widely reported [18] that JPMorgan Chase was in much better financial shape than other banks and did not need TARP funds but accepted the funds because the Government did not want to single out only the banks with capital issues.
JPMorgan Chase advertised in February 2009 that they would be using their capital base monetary strength to acquire new businesses,[19] ....Of the US's nine largest banks, JPMorgan Chase was arguably the second healthiest bank, and did not need to take TARP funds. In order to encourage smaller banks with troubled assets to accept this money, Treasury Secretary Henry Paulson allegedly coerced the CEOs of the nine largest banks to accept TARP money under short notice.[21] JPMorgan Chase was also the first of the largest banks to repay the TARP money.
Relations with the Obama Administration
Dimon is a Democrat and worked in Obama's adopted hometown of Chicago. After Obama took office and JPMorgan Chase repaid its bailout money more quickly than most, he became influential in the White House,[22] although Dimon has often publicly disagreed with some of Obama's policies.[23] Dimon was one of three CEOs found by the Associated Press—along with Lloyd Blankfein and Vikram Pandit—to have had liberal access to United States Secretary of the Treasury Timothy Geithner in the seven months after the financial crisis in fall 2008.[24]
As for Friedman, not only is Goldman Sachs Obama's biggest contributor, and not only is the Obama Administration infested with so many Goldman Sachs people that Goldman almost is the government, but he personally served in the Obama Administration, too, as chairman of Obama's Foreign Intelligence Advisory Board.
He's long been called out as having benefited from the bailouts. Again, from Wikipedia:
On May 7, 2009 Friedman resigned as Chairman of the Federal Reserve Bank of New York in response to criticism of his December 2008 purchase of $3 million of stock in Goldman Sachs.Friedman, who remains a member of Goldman SachsÂ’ board, came into violation of Federal Reserve policy when Goldman was converted to a bank holding company in September 2008, thereby placing it under the regulatory authority of the New York Fed. Friedman requested a waiver from this violation when the conversion occurred, which was granted roughly two and a half months later.
Although these three are Obama cronies, I have no doubt a lot of Republican-affiliated people are implicated somewhere here.
The whole damn thing is crooked.
Posted by: Ace at
11:45 AM
| Comments (223)
Post contains 646 words, total size 5 kb.
Posted by: James Loughner at October 20, 2011 11:49 AM (e8kgV)
Posted by: moki at October 20, 2011 11:49 AM (dZmFh)
Posted by: Matt Damon at October 20, 2011 11:50 AM (e8kgV)
Posted by: Countrysquire at October 20, 2011 11:50 AM (1hLHC)
Posted by: SFGoth at October 20, 2011 03:49 PM (dZ756)
The Obamas are the 1%
Posted by: James Shatner at October 20, 2011 11:51 AM (e8kgV)
Posted by: Methos at October 20, 2011 11:51 AM (sOXQX)
Posted by: Bill D. Cat at October 20, 2011 11:52 AM (npr0X)
Posted by: moki at October 20, 2011 11:52 AM (dZmFh)
Posted by: RoadRunner at October 20, 2011 11:53 AM (BvTwT)
Posted by: Chi-Town Jerry at October 20, 2011 11:54 AM (f9c2L)
Posted by: Andy at October 20, 2011 11:54 AM (5Rurq)
Posted by: Dr. Varno
...........
sounds like a Frank Zappa lyric!
Posted by: Chi-Town Jerry at October 20, 2011 11:55 AM (f9c2L)
Posted by: Interest Rate Derivatives at October 20, 2011 11:56 AM (npr0X)
The only greenbacks I'd use for trade in LA are gator hides.
Posted by: Methos at October 20, 2011 11:56 AM (sOXQX)
Posted by: alexthechick at October 20, 2011 11:57 AM (VtjlW)
Posted by: ziptie at October 20, 2011 11:58 AM (N5Gqy)
Posted by: AmericanDawg at October 20, 2011 11:58 AM (AIIyT)
Posted by: Empire of Jeff at October 20, 2011 11:59 AM (PLHIl)
Posted by: Chi-Town Jerry at October 20, 2011 03:54 PM
____________________________________
....or is it " Cold and Whiny "
Posted by: AmericanDawg at October 20, 2011 12:01 PM (AIIyT)
That reminds me of an article I saw at zerohedge earlier in the week (possibly yesterday) worrying about Bank of America using its $1 trillion of deposits to backstop $54 trillion in derivatives. Because the depositers never got a say in the matter (short of yanking their money before the bottom falls out). I see two problems with this. One, 1<54. Two B of A is one bank and it's allegedly going to cover bets that total almost 4 times our GDP. WTF?
But don't worry, the banking industry is all on the up and up.
Posted by: Methos at October 20, 2011 12:01 PM (sOXQX)
"(liberals) are always under the dominion of the superstition of government, and forgetting that a government produces nothing at all, they leave out of sight the first fact to be remembered in all social discussion -- that the state cannot get a cent for any man without taking it from some other man, and this latter must be a man who has produced and saved it. This latter is the Forgotten Man." -- William Graham Sumner
Posted by: Guy Mohawk protecting his meat and women with a spear at October 20, 2011 12:02 PM (xOy1A)
Posted by: Barb the Evil Genius at October 20, 2011 12:02 PM (MyByM)
Posted by: California Red at October 20, 2011 12:03 PM (7uWb8)
Posted by: Bill D. Cat at October 20, 2011 12:03 PM (npr0X)
Posted by: t-bird at October 20, 2011 12:03 PM (FcR7P)
Posted by: Vote joncelli/Cthulhu 2012 at October 20, 2011 12:03 PM (RD7QR)
Posted by: nevergiveup at October 20, 2011 12:04 PM (i6RpT)
Posted by: moki at October 20, 2011 12:04 PM (dZmFh)
Sadly, the stopped clock syndrome IS at work with the OWS people...
Wallstreet is out of control, and its a Systemic issue IMO.
Capitalism is based on the idea of accrueing Capital to MAKE things... not just gathering money... yet Traders on Wallstreet, and in the Derivitive market, and the Futures markets, are all based on Betting IF somthing will go up or down, in a short period of time.
Lots of Capital is sitting in that game, in those accounts, vice being used to actualy MAKE things...
When you find out that only about 5% of Oil Futures contracts are ever delivered? its just a betting pool... but that betting decides the prices for US consumers.
Add in all the derivitve markets, and insurance... and you have a HUGE amount of capital just being used to protect other Piles of Capital...
Now, add in a Federal Reserve Bank, who is NOT accountable to NO ONE? Even as it prints American Dollars?
The Bankocracy and WallStreet is out of control IMO... it does not need to be disolved, but sure needs some adult supervision...
Posted by: Romeo13 at October 20, 2011 12:04 PM (NtXW4)
Posted by: Zombie Travis the Chimp at October 20, 2011 12:04 PM (E0EDC)
Ah, but it's the Republicans who are in bed with big corporations and Wall Street.
I am beyond being surprised by anything any more. It's pointless knowing about all this corruption in the Obama aministration because nothing will ever be done about it. All it does is make my blood pressure shoot up 100 points.
Can you imagine if GWB did this?
Posted by: runningrn at October 20, 2011 12:05 PM (u/RSM)
Posted by: The David Banner Party at October 20, 2011 12:05 PM (pMGkg)
Posted by: scottythrust at October 20, 2011 12:05 PM (VTeUD)
Posted by: moki at October 20, 2011 12:05 PM (dZmFh)
Posted by: Bob Saget at October 20, 2011 12:06 PM (SDkq3)
I'd say it was a cluster#### but after the CT/Biospy yesterday, I understand why they are proceeding the way so slowly. My kidney is right up under my lung, and the tumor is growing from the kidney to the lung. So they are having to rethink what they are going to do. I will say that the biopsy was awful-I don't react to local anesthesia, and they could only use local because I had to be awake. So I was down for a couple of days recuperating.
Holy cow! I'm so sorry to hear that. You are in for some big surgery. Are they going to radiate first and try and shrink it? (Although, when you do that, it makes it harder to do surgery).
Posted by: runningrn at October 20, 2011 12:07 PM (u/RSM)
Posted by: Vote joncelli/Cthulhu 2012 at October 20, 2011 12:08 PM (RD7QR)
Pfft...only corrupt govt crony dogs get steak dropped on their floor. Its soylent green for the rest.
Posted by: Guy Mohawk protecting his meat and women with a spear at October 20, 2011 12:08 PM (xOy1A)
You wish there were actually any big piles of capital protecting the other piles of capital.
Posted by: AIG at October 20, 2011 12:08 PM (sOXQX)
The TARP Community Security Committee will counsel the shit out of those guys.
Posted by: oblig. at October 20, 2011 12:09 PM (cePv8)
Posted by: moki at October 20, 2011 04:04 PM (dZmFh)
Yeah, considering the news, that's probably the best part! Glad you had good caregivers...makes a big difference. Hang in there.
Posted by: Tami at October 20, 2011 12:09 PM (X6akg)
Posted by: ziptie at October 20, 2011 12:11 PM (N5Gqy)
Totally OT, but can we have a "Let's Find Out How Many Different Ways There Are To Spell 'Moumar Quadhaffi'" thread?
Also, has anyone else seen the A Very Harold and Kumar Christmas red band trailer over at firstshowing.net? It is a gas, man. I'd link it, but I can't use the link-fu thing at the top of the comment box on this computer, for some reason.
Posted by: Sharkman at October 20, 2011 12:11 PM (wMsKw)
Posted by: Nancy Pelosi at October 20, 2011 12:11 PM (f8XyF)
Posted by: runningrn at October 20, 2011 12:11 PM (u/RSM)
Posted by: Truman North at October 20, 2011 12:11 PM (I2LwF)
Romney's a Mormon. Cain eats pizza. Perry/rock with bad word, Bachmann/crazy eyes, Santorum goes to church (church! can you believe it?), Newt/funny name, etc.
However, your annointed sovereign killed bin Laden and Quadafi with the power of his mind.
Posted by: MSNBC at October 20, 2011 12:12 PM (8sCoq)
The TARP Community Security Committee Phil's pre-employment psycholoical services contract...will counsel the shit out of those guys.
FIFY
Posted by: fixerupper at October 20, 2011 12:13 PM (C8hzL)
>If the Obama campaign coffers are X and the amount spent on the campaign is 10X and afterwards his campaign debt is somehow 0, how much press interest will this create?
I was told this class was an easy A and there would be no math
Posted by: Jones at October 20, 2011 12:13 PM (8sCoq)
Posted by: moki at October 20, 2011 12:15 PM (dZmFh)
No one.
Okay, I'll spare you as they were from Gawker anyway.
Posted by: lu at October 20, 2011 12:16 PM (pLTLS)
Hey, watch it! We're kind of sensitive about the whole "Government Sachs" thing.
Posted by: Government Sachs at October 20, 2011 12:16 PM (xy9wk)
However, your annointed sovereign killed bin Laden and Quadafi with the power of his mind.
No, that's what I was trying to do to garrett earlier today *blows kisses*
You wish there were actually any big piles of capital protecting the other piles of capital.
From the itty bitty tiny bit I understand, it's pretty much all just turtles one stack of paper against another stack of turtles paper.
Hey, remember in Pretty Woman how Julia "most believable hooker evah" Roberts shames Richard Gere by pointing out he doesn't actually make anything? Good times, good times.
Posted by: alexthechick at October 20, 2011 12:18 PM (VtjlW)
Posted by: Main Stream Media at October 20, 2011 12:19 PM (6Cjut)
@25: "I was raped
- America"
Lie back on the pinball machine and think of worship Obama. You think you'd be thanking him, after all, he just got you laid.
Posted by: Your Helpful Nanny State at October 20, 2011 12:20 PM (xy9wk)
Posted by: Vote joncelli/Cthulhu 2012 at October 20, 2011 12:21 PM (RD7QR)
Posted by: Hussein the Plumber at October 20, 2011 12:21 PM (jx2j9)
Hmm. The USA Chief of Mercedes Benz was axed unexpectedly. Apparently, he allegedly paid for personal expenses (travel and home remodeling) with company money. Didn't the Obamas do some redecorating with expensive chi-chi decorator Michael Smith when they first moved into the WH? Doesn't Moochelle go on fancy, expensive vacas on taxpayer's dimes? Isn't Barry using taxpayer money to do all his current campaigning? Why is there a different standard for corporate America than for gubamint officials?
From WSJ:
"The ouster of Mr. Lieb, a well-respected exec among Mercedes dealers and within the company, came as a surprise given Mercedes healthy gains in U.S. sales and market share during his tenure."
Geez! The dude was even doing a good job too! (The same cannot be said for Obumbles).
Posted by: runningrn at October 20, 2011 12:22 PM (u/RSM)
Posted by: OWS Vermin at October 20, 2011 12:23 PM (BbX1b)
Posted by: Mr Pink at October 20, 2011 12:23 PM (iRB4e)
The Big Wall Street Banks Are Already Trying To Buy The 2012 Election
Goldman Sachs
Mitt Romney: $352,200
Barack Obama: $49,124
Tim Pawlenty: $25,000
Jon Huntsman: $6,750
Rick Perry: $5,500
Ron Paul: $2,500
Morgan Stanley
Mitt Romney: $184,800
Tim Pawlenty: $41,715
Barack Obama: $28,225
Rick Perry: $20,750
Jon Huntsman: $9,750
Newt Gingrich: $1,000
Ron Paul: $1,000
Herman Cain: $500
Bank of America
Mitt Romney: $112,500
Barack Obama: $46,699
Tim Pawlenty: $12,750
Jon Huntsman: $4,250
Ron Paul: $3,451
Rick Perry: $2,600
Thad McCotter: $2,000
Herman Cain: $750
Michele Bachmann: $500
Newt Gingrich: $250
JPMorgan Chase
Mitt Romney: $107,250
Barack Obama: $38,039
Rick Perry: $27,050
Tim Pawlenty: $16,750
Jon Huntsman: $7,500
Ron Paul: $5,451
Citigroup
Mitt Romney: $56,550
Barack Obama: $36,887
Tim Pawlenty: $5,300
Rick Perry: $3,000
Herman Cain: $1,465
Michele Bachmann: $1,000
Ron Paul: $702
Posted by: Flounder at October 20, 2011 12:23 PM (Kkt/i)
In Illinois!
Posted by: Methos at October 20, 2011 12:24 PM (sOXQX)
Posted by: Marinetbryant at October 20, 2011 12:24 PM (eJMmL)
Posted by: moki at October 20, 2011 12:25 PM (dZmFh)
Posted by: Merovign, Dark Lord of Duh at October 20, 2011 12:25 PM (bxiXv)
Matt Taibi points this out in his book, Griftopia. It's amazing, what with the revolving doors of Goldman Sachs, The Fed, and the Obama administration. As you point out, it is truly crooked criminal.
Posted by: Gunslinger at October 20, 2011 12:25 PM (Zi+FQ)
Posted by: Mr Pink at October 20, 2011 12:25 PM (iRB4e)
Posted by: Merovign, Dark Lord of Duh at October 20, 2011 12:26 PM (bxiXv)
Posted by: alexthechick at October 20, 2011 04:21 PM (VtjlW)
...why you bringing up old shit, anyway?
Posted by: garrett at October 20, 2011 12:26 PM (44JuN)
Posted by: Charlie Gibson at October 20, 2011 12:27 PM (6Cjut)
Maybe it's just me, but it looks as if there's one candidate in particular they really have shown an interest in owning. But I'm sure that's just me.
Posted by: Methos at October 20, 2011 12:27 PM (sOXQX)
Posted by: runningrn at October 20, 2011 04:11 PM (u/RSM)
Still OT - yeah, he's our sheriff. Love the guy!
Posted by: eastvalleyphx at October 20, 2011 12:27 PM (qiOph)
Posted by: Max Power at October 20, 2011 12:27 PM (q177U)
Posted by: dagny at October 20, 2011 12:28 PM (suavF)
Posted by: AmishDude at October 20, 2011 12:28 PM (T0NGe)
Posted by: Flounder at October 20, 2011 04:23 PM (Kkt/i)
Now thats Scary! No money for the sitting Congressmen?
Posted by: Sen. Bluto Blutarski at October 20, 2011 12:28 PM (NtXW4)
runningrn has just given massive hope to all the bald morons out there
;-)
Heh! He is a good looking guy, and I love how he's expressing his mind-thoughts!
I'm a sucker for a good communicator! I love how direct he is and how he calls a spade a spade. (Uh oh, was that racist? I ban myself!)
Posted by: runningrn at October 20, 2011 12:28 PM (u/RSM)
Insty's been flogging a version of the Goldman logo with the O changed to the Obama logo. I'd pay money to see a bunch of people with that on a sign show up at an "Occupy" protest. Just make sure to have multiple HD camcorders to capture the resulting cognitive dissonance and heads exploding.
Posted by: Ian S. at October 20, 2011 12:29 PM (tqwMN)
When the whole banking mess started back in W's admin., I knew that it was nothing but a scam. So did Rush. So did many others. There should have been an immediate no-holds-barred investigation before anyone gave anyone else any money.
The attitude that something has to be done "now" has come home to roost.
I pray for my country. It's unraveling before my eyes and it's heartbreaking.
Posted by: Soona - Tearorrist at October 20, 2011 12:29 PM (Zufb9)
Still OT - yeah, he's our sheriff. Love the guy!
Oh my gosh, if I lived there, he'd need a restraining order! I'd be bringing him home made cookies and brownies every day.
Posted by: runningrn at October 20, 2011 12:29 PM (u/RSM)
Yeah, that list is a little suspicious. My old friend was trying to tell me that the banks were all aligned with the Republicans. I asked her why they all gave Obama more money then and why did he bail them all out if they weren't in each other's pants?
I'd like some actual numbers.
Somebody go look those up for me. Thanks.
Posted by: dagny at October 20, 2011 12:30 PM (suavF)
Posted by: runningrn at October 20, 2011 04:11 PM (u/RSM)
Oh yeah, that guy....any day, any place, any time....twice.
Posted by: Tami-Cardinals! at October 20, 2011 12:32 PM (X6akg)
I also need some names of Goldman people who are/were in the admin to further support my argument.
Posted by: dagny at October 20, 2011 12:32 PM (suavF)
He's waiting for his tee shirt to come out of the wash so that he can take on the rich and racist machine.
He might be picking up a six pack for his new black best friend from the kitchen who agreed to give him a lift back to his dorm
Posted by: kbdabear at October 20, 2011 12:32 PM (Y+DPZ)
Posted by: Vote joncelli/Cthulhu 2012 at October 20, 2011 12:32 PM (RD7QR)
Posted by: moki at October 20, 2011 12:32 PM (dZmFh)
runningrn-ugh, don't tell me that!!! I was hoping they could deal with it via laparascope. They don't want to radiate because the tumor is so deep-it's mostly outside the kidney, but right up against the lung, although I don't think it has started growing into it yet.
I don't know if that can be done through a scope given it's size and all. If that was me, I'd want them to have good exposure and be able to have good visualization.
I wish you the best as you proceed with treatment options. I will be keeping you in my prayers, Moki!
Posted by: runningrn at October 20, 2011 12:33 PM (u/RSM)
Posted by: Jones at October 20, 2011 12:33 PM (8sCoq)
Oh my gosh, if I lived there, he'd need a restraining order! I'd be bringing him home made cookies and brownies every day.
Posted by: runningrn at October 20, 2011 04:29 PM (u/RSM)
I'll be very careful in how I say this: Babeu gives me at least a modicum of confidence that if the SHTF, he and his deputies will be on the "right" side (IYKWIMAITYD).
I could be wrong ...
Posted by: eastvalleyphx at October 20, 2011 12:34 PM (qiOph)
Sounds like some kind of gay code to me. He even lashed. Strange fellow. Always talking about rape and now this. His mouth says "no no" but his wagging finger says, "reach-around!"
Posted by: Dang at October 20, 2011 12:35 PM (BbX1b)
Posted by: Mr Pink at October 20, 2011 04:25 PM (iRB4e)
You serious? What's your point? Did you follow the link? You can't be that obtuse. Don't be a doofus.
Don't forget that TARP was signed into law by a republican president, under the guidance of Paulson and Bernanke. In case you forget, that was a $700B slush fund for these banks.
All these guys wreak of ties to these big money interests. If the point is that these 3 guys are Obama cronies and that's bad, then I agree. Let's not replace one (Obama) with another with another with an R behind his name (Romney).
Posted by: Flounder at October 20, 2011 12:36 PM (Kkt/i)
Posted by: AmishDude at October 20, 2011 12:36 PM (T0NGe)
Left Wing Comics present...
Occupy woMan!
When you need a person of indeterminate gender to squat in your house, eat your food, and defecate on your furniture, call...
Occupy woMan!
Posted by: soothsayer at October 20, 2011 12:37 PM (sqkOB)
Posted by: toby928© Perrykrishna with tattooed knuckles at October 20, 2011 12:37 PM (GTbGH)
That said, my nurses and doctors were absolutely lovely, and we had a good time in spite of everything. I will know tomorrow what they are going to do.
The worst part was not reading any news for a couple of days, and then seeing all the crap that is going on. Dang, I can see why ignorance is sometimes bliss.
Posted by: moki at October 20, 2011 04:04 PM (dZmFh)
Prayers for you Moki, I am a cancer survivor and dealing with End Stage Renal Disease. Wow.
Posted by: ExExZonie at October 20, 2011 12:37 PM (jtM4e)
Posted by: © Sponge at October 20, 2011 12:37 PM (UK9cE)
Posted by: Sherriff Babeu at October 20, 2011 12:38 PM (44JuN)
Center for Responsive Politics. It doesn't seem as if they engaged in chicanery to arrive at the numbers but it just doesn't feel right to me.
Posted by: AmishDude at October 20, 2011 12:38 PM (T0NGe)
Posted by: Jones at October 20, 2011 12:38 PM (8sCoq)
Occupy woMan has the power to defy and twist logic, deplete the resources of others, and imitate a bullhorn.
Posted by: soothsayer at October 20, 2011 12:38 PM (sqkOB)
Posted by: polynikes - Texan for Romney at October 20, 2011 12:38 PM (i9cTu)
You know damned well this story will never get any traction in the MFM or anywhere else. It's the Chicago Way writ large and injected into the last place it needs to be, Washington DC.
I've pretty much given up on even trying to keep up with all the scandals in this stuttering clusterfuck of a miserable failure's administration. I hope we make it until '012, I really do.
I will drink heavily, that's what I'll do.
Posted by: BackwardsBoy at October 20, 2011 12:39 PM (d0Tfm)
Our tax dollars at work… a half-billion dollar loan (actually $529 million) from the U.S. Department of Energy to develop a hybrid toy for the wealthy and/or celebri-licious (like Leonardo DiCaprio, one of the first customers) that, in real world driving, won’t get much better mileage than your average crossover utility vehicle. Not only that, but the cars are manufactured in Finland — that’s right, Finland – and shipped here for sale, where their purchasers will then receive a $7,500 tax credit for buying one (the “cheap” base model starts at $96,895, with the full-zoot Eco Chic model going for a bargain $108,900). Dem donors own company.
Posted by: Guy Mohawk protecting his meat and women with a spear at October 20, 2011 12:39 PM (xOy1A)
Posted by: moki at October 20, 2011 12:40 PM (dZmFh)
In case you forget, that was a $700B slush fund for these banks.
Yet most of it, if not all, was paid back.
Weird, eh?
Posted by: soothsayer at October 20, 2011 12:40 PM (sqkOB)
Posted by: polynikes - Texan for Romney at October 20, 2011 04:38 PM (i9cTu)
Sorry. It all stems from the CRA, specifically, Clinton's expansion of it.
Standard Dem trick. It was all about touchy-feely good intentions but even then was all about corruption.
Posted by: AmishDude at October 20, 2011 12:40 PM (T0NGe)
This should enrage the Occupy crowd. Instead, they are so stupid and ill-informed, they have no clue.
Posted by: Lemon Kitten at October 20, 2011 12:41 PM (O7ksG)
Posted by: Lemon Kitten at October 20, 2011 12:42 PM (O7ksG)
Posted by: USA at October 20, 2011 12:42 PM (6Cjut)
Posted by: AmishDude at October 20, 2011 04:36 PM (T0NGe)
That's a fair critique and one I have myself. I have not verified the numbers, and do not have the time to do so. But I have been immersed in the goings on on Wall Street and campaign finance since the 2008 crash to reliably believe that Wall Street has picked their guy and it is Romney.
Take that for what you will. I think it stinks.
Posted by: Flounder at October 20, 2011 12:42 PM (Kkt/i)
Posted by: Executioner at October 20, 2011 12:44 PM (EL+OC)
Oh, have ya now?
I heard that even the Bain Capital employees are giving more to Obama than Romney. As to Romney being preferred by WS over other Republican candidates, that's clear and not surprising.
Posted by: AmishDude at October 20, 2011 12:44 PM (T0NGe)
Posted by: moki at October 20, 2011 04:40 PM (dZmFh)
You stay strong. Not to get too OT but I have survived 9 years next month when they only gave me a 20% chance. What the F do they know anyway? Chemo sucked but I always visualized the cancer cells screaming in their little death throes. Seemed to help, but I'm hateful like that.
Posted by: Sgt. Fury at October 20, 2011 12:44 PM (yc3WX)
the comments at huffpo are entertaining
"Why is it ok for Jews to insult Whites, but it's not ok for a person (a Black woman teacher to boot) to simply state the truth about who controls the Federal Reserve and how many times Jews have been run out of countries for such practices?"
Yeah, why???
Posted by: soothsayer at October 20, 2011 12:45 PM (sqkOB)
Yeah, I believe this.
Look, it makes sense. He's "Republican" -- maybe not Republican Republican but so what -- and he made his money on the market under basically the current system. He's a great status quo pick.
People are still making money on the stock market. Little investors may not be, but the folks in it are. They want someone who is going to roll back the most egregious of the class warfare crap from Obama without rocking the boat too much.
Posted by: Y-not at October 20, 2011 12:45 PM (5H6zj)
Posted by: BackwardsBoy at October 20, 2011 12:45 PM (d0Tfm)
Prayers for you Moki, I am a cancer survivor and dealing with End Stage Renal Disease. Wow.
Posted by: ExExZonie at October 20, 2011 04:37 PM (jtM4e)
Praying for you too ExExZonie.....
Posted by: Tami-Cardinals! at October 20, 2011 12:46 PM (X6akg)
Weird, eh?
Posted by: soothsayer
Sorry, conservatives need to avoid that response. Why? Because the Treasury has never released a full accounting of the plan, the recipients, and the amounts. No one outside of the Federal government knows exactly what went on. You cannot make a claim that has no evidence available.
Bloomberg and some other news co had to file a FOIA suit just to get a basic outline of the biggest recipients. Oh, and some of those were fucking foreign banks. Sorry, but fuck that noise.
This is not to mention of course that GM's finance arm hasn't repaid it's loans and has resumed auto loans to sub-prime customers!!!
Posted by: weft cut-loop at October 20, 2011 12:48 PM (LHi9T)
I heard that even the Bain Capital employees are giving more to Obama than Romney. As to Romney being preferred by WS over other Republican candidates, that's clear and not surprising.
Posted by: AmishDude at October 20, 2011 04:44 PM (T0NGe)
The Wall Street guys are going to go with the guy that won't rock the boat too much. And with Romney talking out of both sides of his mouth, back and forth, it makes for a smooth ride.
Posted by: buzzion at October 20, 2011 12:48 PM (GULKT)
Posted by: alexthechick at October 20, 2011 04:45 PM (VtjlW)
Oh, I got that.
That was a line from the movie 'Friday'. Seemed perfect for today.
Posted by: garrett at October 20, 2011 12:48 PM (44JuN)
I heard that even the Bain Capital employees are giving more to Obama than Romney. As to Romney being preferred by WS over other Republican candidates, that's clear and not surprising.
Posted by: AmishDude at October 20, 2011 04:44 PM (T0NGe)
Yeah. To be clear, I think they hedge their commitments on both sides of the D/R line, especially in such as close and vital election. My point was that for an R nominee (not necessarily president) Romney is their guy.
Posted by: Flounder at October 20, 2011 12:49 PM (Kkt/i)
Posted by: Minuteman at October 20, 2011 12:51 PM (CGxxU)
Posted by: Guy Mohawk protecting his meat and women with a spear at October 20, 2011 12:52 PM (xOy1A)
Posted by: polynikes - Texan for Romney at October 20, 2011 04:38 PM (i9cTu)
My understanding of the banking crisis was that the leftist control of the housing market was the spark that set off the mess we are now in. You know, Freddy and Fanny and the congressmen and their cronies that perpetuated it.
The congressional panic fed by the MFM (October surprise?) and the complex of entities ready to bleed our economy dry, plus a plethora of unions and municipalities that could no longer afford their own mandates completed the crisis circuit.
Posted by: Soona - Tearorrist at October 20, 2011 12:53 PM (Zufb9)
The point is that it wasn't a "slush fund."
For instance, Wells Fargo paid back their loan. On the other hand, we'll never get all the money back from GM. Just like we never get paid by the airlines.
Notice anything there? GM & the airlines are both unionized. Wells Fargo, not so much.
Posted by: soothsayerwing plover at October 20, 2011 12:53 PM (sqkOB)
Of course, now your eustachian tubes are full of snot. Decongestants, stat.
Posted by: Cherry pi at October 20, 2011 12:54 PM (OhYCU)
Posted by: Mr. Pink at October 20, 2011 12:54 PM (B0ebt)
Insty also has a link showing OdipO getting more money from Wall Street than all repubs combined.
Yeah, but that story appeared in that right wing teabagger rag, The Washington Post, so I doubt it's veracity.
Posted by: runningrn at October 20, 2011 12:54 PM (u/RSM)
Yeah, and check your skives for skid marks.
No incontinence yet, I'm happy to report. Maybe in a few years.
Posted by: soothie at October 20, 2011 12:54 PM (sqkOB)
Posted by: Mr. Pink at October 20, 2011 12:56 PM (B0ebt)
Nah I got hair, but my wife likes it when I shave downstairs so if that counts yes I am.
OK, that was a little TMI! Heh!
Posted by: runningrn at October 20, 2011 12:59 PM (u/RSM)
Since this thread is on its last legs, I feel safe in saying Sanders has nothing here. Yes, this is crony capitalism at its finest and the whole thing should never have happened. But I remember exactly what happened in those days and why the Treasury co-opted even healthy banks.
In retrospect, it is easy to say we should have let the whole thing melt down--and then, of course, recapitalize the FDIC after the bank runs--but at the time, lending the money out so depositors would know they were safe seemed like the prudent thing to do.
Now that the money has been repaid with interest, it still looks to me like a good deal in financial terms. Much cheaper than it would have been to let the banks fail.
But you guys go ahead and lay some more half-assed hindsight on us, 'kay?
Posted by: spongeworthy at October 20, 2011 01:00 PM (puy4B)
>If the Obama campaign coffers are X and the amount spent on the campaign is 10X and afterwards his campaign debt is somehow 0, how much press interest will this create?
I was told this class was an easy A and there would be no math
Posted by: Jones at October 20, 2011 04:13 PM (8sCoq)
Posted by: the DON'T BE SO INARTICULATE police -- get a warrant at October 20, 2011 01:01 PM (SPVfc)
Posted by: Mr. Pink at October 20, 2011 01:02 PM (B0ebt)
It's worse than that. Think about anything we finance. Student loans. Auto loans. Yes, mortgages. And, oh yeah, credit cards.
The bubble that must pop next is frigging everything.
Posted by: Methos at October 20, 2011 01:03 PM (sOXQX)
Posted by: TheQuietMan at October 20, 2011 01:03 PM (1Jaio)
I just took a one minute power nap.
I feel very refreshed. Time to go buy a condo and a Madonna CD.
Posted by: soothie at October 20, 2011 01:03 PM (sqkOB)
>If the Obama campaign coffers are X and the amount spent on the campaign is 10X and afterwards his campaign debt is somehow 0, how much press interest will this create?
I was told this class was an easy A and there would be no math
Posted by: Jones at October 20, 2011 04:13 PM (8sCoq)
It was an easy class...no math here...:
ZERO. The answer is ZERO because it is an inert number with innert properties which are inert to the senses and the mind. This is not math it is SCIENCE, to which I have been BLINDED!
Posted by: Thomas Dolby at October 20, 2011 01:04 PM (SPVfc)
Posted by: Cherry pi at October 20, 2011 01:04 PM (OhYCU)
For instance, Wells Fargo paid back their loan. On the other hand, we'll never get all the money back from GM. Just like we never get paid by the airlines.
Notice anything there? GM & the airlines are both unionized. Wells Fargo, not so much.
Posted by: soothsayerwing plover at October 20, 2011 04:53 PM (sqkOB)
Semantics. Wells Fargo was forced to take funds they did not need because of their prudential business practices, as part of a $700B program that was designed so not one bank was singled out as weak. No bank looks weak, then no more bank runs.
This program was sold to congress as a way to buy up illiquid assets (bad mortgages and CDOs) a la the 1980's S&L crisis. Then, immediately it was lent to banks (presumably because, if the illiquid assets were sold, the banks would be forced to mark to market these bad assets that they had been overvaluing, some of which was regulatory required capital).
We can argue about whether it was entirely paid back or whether it was a good taxpayer return on investment, but it sounds pretty slushy to me. Note that these banks were then able to lend out these low interest loans at whatever rates they could achieve, while the taxpayer is on the hook to China or whomever else was lending the money to finance TARP.
Posted by: Flounder at October 20, 2011 01:05 PM (Kkt/i)
Except that none if actually addressed the fraud induced problems the banks have. Compare the market capitilization of the major banks to their alleged asset value if you don't want to take my word for it.
Posted by: Methos at October 20, 2011 01:06 PM (sOXQX)
You know what my favorite movie of all time is? "I Spit on Your Grave." Especially the first half.
Posted by: Joe Biden at October 20, 2011 01:06 PM (M3QBc)
Posted by: Rex the Wonder God at October 20, 2011 01:07 PM (vahvH)
Truck Stop That Received Over $400,000 in Stimulus Funds Goes Bankrupt
The Tennessee Department of Transportation (TDOT) handed out the $424,000 Environmental Protection Agency stimulus grant for electrical hookups so that truckers wouldnÂ’t have to burn diesel fuel while resting. Both the state and EPA were apparently unaware that owner Rick Lewis had a history of legal and financial problems and had filed for bankruptcy.
Posted by: kbdabear at October 20, 2011 01:07 PM (Y+DPZ)
Posted by: dogfish at October 20, 2011 01:09 PM (iA7ka)
As if, raises are necessary.
The crybabies now will have to pay for 10 percent of their health care insurance, in this new contract. Zero to now. Yeah, it's gold plated, with dental, health club memberships, and more.
The loudest voice from the dissenting side said he was against the raises because it would mean the schools would have to lay off teachers due to budgeting, out in future.
Pass this bill now!
I'm sick of this shit.
Posted by: I'm in a New York state of mind at October 20, 2011 01:10 PM (4sQwu)
Posted by: Mr. Pink at October 20, 2011 05:02 PM (B0ebt)
Different samples. Look. You're screaming about the D's I am screaming about monied interests picking a RINO as our guy.
I already noted that the numbers don't tell the whole story. What they do seem to say is that these big banks want to choose Romney for us as our R nominee. It's a different fight.
Posted by: Flounder at October 20, 2011 01:10 PM (Kkt/i)
Posted by: TheThinMan at October 20, 2011 01:10 PM (FFrzN)
Posted by: Mr. Pink at October 20, 2011 01:12 PM (B0ebt)
Posted by: Mr. Pink at October 20, 2011 01:14 PM (B0ebt)
Except that none if actually addressed the fraud induced problems the banks have. Compare the market capitilization of the major banks to their alleged asset value if you don't want to take my word for it.
Posted by: Methos at October 20, 2011 05:06 PM (sOXQX)
The larger picture is that in the implementation of TARP, connected interests got the taxpayer cash. Seems that we have heard of another such instance of connected interests getting the taxpayer cash, where the government is choosing winners and losers.
Now, what was that? I believe it started with an "S."
Posted by: Flounder at October 20, 2011 01:14 PM (Kkt/i)
Well, sure, as a political matter, the issue is friends of those in power got the easy money. Which in the latter case has now disappeared into the ether.
I just meant to respond to the incorrect assertion that TARP had practical (positive) effects.
Posted by: Methos at October 20, 2011 01:19 PM (sOXQX)
I am saying that list is full of shit. I mean maybe I wasn't clear the first time. Fucking Washington Post came out with a story today of how Obama has raked in more Wall Street money from banks than any Repub nominee. Now your list has him pulling in bull and shit. Your list is wrong, and so are your numbers.
Posted by: Mr. Pink at October 20, 2011 05:14 PM (B0ebt)
They are not my numbers, and I have already acknowledge the weaknesses of the subset.
Just because some of us are able to distinguish between a list of bank donors and Wall Street as a whole (which might just include more than the banks listed), does not mean that we are pot-smoking, OWS-marching, SCOAMF-voting libtards.
Give it a rest. Your rage blinds you.
Posted by: Flounder at October 20, 2011 01:21 PM (Kkt/i)
Posted by: jem at October 20, 2011 01:21 PM (spEu4)
Posted by: Methos at October 20, 2011 05:19 PM (sOXQX)
Yeah, sorry. That response was more directed to your quote source. I am in the let it fail camp.
Posted by: Flounder at October 20, 2011 01:23 PM (Kkt/i)
Posted by: Mr Pink at October 20, 2011 01:41 PM (iRB4e)
Posted by: Mr Pink at October 20, 2011 05:41 PM (iRB4e)
Fair enough.
Posted by: Flounder at October 20, 2011 01:47 PM (Kkt/i)
Posted by: steevy at October 20, 2011 02:09 PM (fyOgS)
Wasn't some 'candidate' a grand poobah somewhere in Kansas?
Audit the FED?
No.
Shut it down tear it down run it out of town on a rail still dripping tar and feathers.
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That is useful information and its quite easy to come a croper if you are not vigilant.
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