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Cashing In on ‘Government Sachs’

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Posted on May 5, 2009
Obama and Geithner
AP photo / Ron Edmonds

Goldman’s friend in deed: Treasury Secretary Timothy Geithner, right, talks about tax reform as President Barack Obama looks on Monday in the Grand Foyer of the White House.

By Robert Scheer

We are so inured to tales of business corruption that even a devastating exposé in The Wall Street Journal no longer shocks us. The fact that the chairman of the New York Federal Reserve Bank made millions off his secret purchase of Goldman Sachs stock, “in violation of Federal Reserve policy,” as the WSJ put it, at a time when the N.Y. Fed was ostensibly overseeing the antics of the Wall Street firm, has barely registered a blip of outrage. 

When N.Y. Fed Chairman Stephen Friedman bought stock in the company that he once headed, and where he still serves as a director, he was already in violation of Federal Reserve policy and was hoping for a waiver to permit him to hold his existing multi-million-dollar stock stash and to remain on the Goldman board. The waiver was requested last October by Timothy Geithner, then the president of the N.Y. Fed and now Treasury secretary. Yet, without having received that waiver, Friedman went ahead in December and purchased 37,300 additional shares. With shares he added in January, after the waiver was granted, he ended up with 98,600 shares in Goldman Sachs, worth a total of $13,330,720 at the close of trading on Tuesday. 

Friedman was in violation of the Fed’s policy because, thanks in part to the urging of Geithner and the N.Y. Fed, Goldman Sachs was allowed to become a bank holding company, making it eligible for government bailout funds (an option that Geithner had denied to Goldman rival Lehman Brothers). But that shift also put Goldman under more rigorous banking regulations that required Friedman as Class C director of the N.Y. Fed, a position in which he ostensibly represents the public instead of the banks who dominate the board, to step down as a Goldman director and divest his holdings. Instead, he stayed on the Goldman board and added additional shares while waiting for the Fed waiver. Nor did he inform the Federal Reserve of his additional purchases last December, and the lawyers for the N.Y. Fed didn’t know about that purchase until the WSJ raised questions in April. Friedman has made a profit of about $3 million on the additional shares.

The significance of this conflict of interest was summarized by the lead of the WSJ story: “The Federal Reserve Bank of New York shaped Washington’s response to the financial crisis late last year, which buoyed Goldman Sachs Group Inc. and other Wall Street firms. Goldman received speedy approval to become a bank holding company in September and a $10 billion capital injection soon after.”

In addition to that capital injection, which at least carries some expectation of being repaid, Goldman received an additional $8.1 billion that will not have to be returned to taxpayers. This is a result of the bailout engineered by then-N.Y. Fed president Geithner of AIG, which listed Goldman as its top insured credit-swap customer. As Jerry Jordan, former president of the Fed Bank in Cleveland, told the Journal in reference to Friedman’s obvious conflict of interest, “He should have resigned.”

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Unfortunately, this was not the view during the reign of Geithner, who argued that Friedman needed to remain chairman of the N.Y. Fed board to find a suitable replacement for Geithner as he moved on to be secretary of the Treasury. Friedman chose a fellow former Goldman Sachs exec for the job.

All of which calls into question the unique power of Goldman Sachs over the U.S. government, as described in another important, but largely ignored, article from The New York Times last October headlined “The Guys From ‘Government Sachs.’ ” Their power is vast, no matter which party controls the White House. As the Times noted, two leaders of Goldman Sachs—Robert Rubin, who co-chaired Goldman with Friedman, and Henry Paulson—had become secretaries of the Treasury in the Clinton and Bush administrations, respectively.

Under Paulson, the bailout of Wall Street was dominated by Goldman Sachs alums, and as the Times noted, “Indeed, Goldman’s presence in the (Treasury) department and around the federal response to the financial bailout is so ubiquitous that other bankers and competitors have given the star-studded firm a new nickname: Government Sachs.”

That power continues unabated in the Obama administration. Geithner is a protégé of former Goldman Sachs chairman Rubin. And it was therefore not surprising when he picked Mark Patterson, a registered lobbyist for Goldman Sachs, to be his chief of staff at the Treasury Department. That appointment was made on the same day that Geithner announced new rules for limiting the influence of registered lobbyists. Need more be said? 

Click here to check out Robert Scheer’s book,
“The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street.”


Keep up with Robert Scheer’s latest columns, interviews, tour dates and more at www.truthdig.com/robert_scheer.



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PatrickHenry's avatar

By PatrickHenry, May 15, 2009 at 5:51 pm Link to this comment

By foggyjones, May 15 at 11:59 pm #

In the 60’s scientists found that subliminal messages could be inserted in film which the subconscience would pick up the images and the viewer would want to buy peanut butter or bomb vietnam. 

http://en.wikipedia.org/wiki/Subliminal_advertising

You don’t think the masters of media would let the gift of influencing public opinion through hypnosis go astray?

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PatrickHenry's avatar

By PatrickHenry, May 15, 2009 at 4:54 pm Link to this comment

That damn cat is posting for me again!

Its like Sepharad & Inherit the Wind like to downplay the affect AIPAC has on you and me and defend the 60% of “bad” jews who routinely discrimminate against non-jews in the media and financial sectors.  How else would they gain majority interests?  They most likely are paranoid and would prefer to work around fellow jews, however discrimmination is illegal and monopoly has been allowed to occur.

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By PatrickHenry, May 15, 2009 at 4:39 pm Link to this comment

AIPAC is the most powerful lobby in U.S. Politics today which “pressures” congress on who is on select committees (read Harmon)and what kind of legislation which affect you and me (Hate speech = goodbye 1st amendment) Groups like the NRA (single issue) and the NAACP don’t hold a candle to them.

A good source of info is found at http://www.ifamericansknew.org/us_ints/pg-fa.html

I am sympathetic on ITW walking around aimlessly gathering talking points on the real and imagined paranoia of semites (non-white), blacks and gays even though gays encompass all races, religions and ethnicities, I’m sure they are glad to have an advocate like him on their side.

Again ITW lumps all jews together as victims of a percieved and unjust hatred by myself and others on this site but I put it like this:  Recently a poll was conducted in Israel if they should attack Iran and 60% of the (jewish) population said yes. 
Therein lies my percieved ratio on pricks to people. The pricks are going to provoke an unjust war (as if they haven’t already) and pray the U.S. saves their sorry asses once again.  The other 40% are sane enough to know war is bad and an unprovoked agressive war they cannot possibly win is especially bad.  I carry this ration over to the U.S. where I see the ratio as prettymuch the same 60% zionist idiots craving domination of all things media, political and financial and then the other 40% are the sane jews, the doctors and teachers.

Its like   Sepharad & Inherit the Wind

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By KDelphi, May 15, 2009 at 2:14 pm Link to this comment

Boy, for excusing every conservative decicion that Pres. Obama makes, as saying he was
“influenced” by some other group, or Congress, you sure give him alot of power here.
Did you guys even listen to Gingrich or , even, Biden at AIPAC?? You agree with that stuff??

The “president” is a puppet of the NY Financiers. (who are many religious groups, races, but, I do know that the majoprity of the bucks in this country are NOT owned by Af Ams—-there are simply rich, elitist Af Ams…but the majority live well below the level that other races in this country do. The gap between MOST Af Ams and other groups continues to widen…

As for christian protestants, I would lump both of these religious groups (Zionist christians or jews) into one big pain in the ass lobbying group, that keeps this country believing in primitivistic notions. I do not understand what the Israeli state can be based on if not a religious (quasi racial) group.

I do not know about Muslim groups, but, they certainly havent been able to gert any president to side with Palestine.

There is no other country on earth where Israeli policies hold such sway—-maybe not even in Israel.

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By Inherit The Wind, May 15, 2009 at 4:21 am Link to this comment

foggyjones, May 14 at 9:42 pm #

WEDNESDAY   835 PM/CST   DFW/USA


REF: Sepharad & Inherit the Wind

Practically all of your knowledge ranges from incorrect to fragmented. It ammounts to a veneer of tiresome shiboliths and popular Z slogans, empty, and devoid of wisdom.

May the Force, someday, be with you.
********************************************

Thankyou for your input.

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By Sepharad, May 14, 2009 at 6:25 pm Link to this comment

KDelphi—re the lobby-strength in the U.S. you and Inherit were discussing, definitely the ones you mentioned are stronger than the Jewish lobby, also the women’s lobby (and the editor of a major Muslim newspaper in Detroit, being interviewed on NPR last year, said that Muslims in the U.S. outnumber the Jews, and that the Islamic lobby would change all the rules of the current game). I don’t know what additional lobbying the Muslims need, what with the Saudis and oil as the #1 driver of U.S. Mideast/Central Asian policy, but this editor was obviously looking for more. You know, for centuries American President have always been white Anglo-Saxon Protestants (which remain the strongest, most influential bunch politically, financially, in every way in this country), till John Kennedy made Catholicism acceptable. Last year, we very nearly elected a woman for President and DID elect a bi-racial President with a Moslem name. Do you think we ever will elect a Jewish President? (I’m not holding my breath.) I do expect to see a Hispanic-American or an Asian-American to reach the highest office, sometime in the future, given the growing numbers of Hispanic-Americans and the increasing influence of Asian-Americans, and that’s fine with me. Our greatest strength as a country is that we have so many different voices and cultural experiences. I would LIKE to see a Jewish President, especially if he or she is secular (i.e. my own persuasion!) but can’t see it happening.

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By Inherit The Wind, May 14, 2009 at 5:22 pm Link to this comment

KDelphi, May 14 at 2:13 pm #

YOu honestly believe that there is as strong an Af Am or gay lobby as there is a Jewish lobby, in DC, NY, etc?
***********************************

OK, I won’t attack. I will simply ask how you can ask that with a straight face since the PRESIDENT, the Gov of NY, and the DC mayor are ALL African American? (not that I object one iota to that). How much more influence can a lobby have than THAT?

FoggyJones—Well-named as you are always in a fog.

PH:

I’m just more parapatetic than you—I simply see more kinds of MCPs than you.

No, I’m White.  Can’t help it..
It is obvious, as an ethnic jew, you don’t consider yourself white.  I wonder how many crimes have been committed throughout history and blamed on whites, when they were actually ethnic jews who committed them.
**************************************

Not nearly as many as were committed by “whites” or never committed at all (like witchcraft and sorcery) and blamed on Jews.  Scary that you really think Jews are genetically evil and prone to committing crimes and then fobbing them off on non-Jews.

Yeah. Who gives a shit about dying Gays here at home when you worry about Gazans and Palestinians and Talibans unfairly blamed for using people as human shields?

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By PatrickHenry, May 14, 2009 at 2:44 pm Link to this comment

By Inherit The Wind, May 14 at 4:44 pm #

Why is jewish paranoia different than other non-jews paranoia?  What makes theirs so special?

In response to your all too familiar sweeping generalizations.

You post:

“Men constantly discount and laugh at the Women’s Movement and have for 30 years.  How many times have your heard some fellow man say “Oh, they are just a bunch of ugly dykes”?  Plenty, I’ll bet.”

The men you hang around with are obviously idiots, the men I hang with make comments like “what a nice rack” or “what a nice ass” amongst themselves when commenting on women and are hardly concerned with the less appealing.

You post:

“How many Whites (and particularly Republicans) discount Black Americans’ paranoia: “What’s the big deal? They have equal rights.  If they are in the ghetto, then it’s THEIR fault—don’t spend MY tax dollars helping them!”

It is obvious, as an ethnic jew, you don’t consider yourself white.  I wonder how many crimes have been committed throughout history and blamed on whites, when they were actually ethnic jews who committed them.  I live in P.G. County, Maryland which has the largest affluent black majority in the United States, I wish I could live as well as alot of them!

You post:

“Or the issues of Gays, wanting to be able to marry, but, long before that, to be able to care for sick, dying partners without having religious relations blocking them because they think it’s a sin?  How many of those nutty right-wingers STILL insist homosexuality is a “choice” and “soon we’ll be talking about man-on-dog”....Remember THAT?”

And your point is….?  The only people that I could think of being against same sex unions would be the insurance companies who would have to provide coverage where they didn’t have to before.

As always you broad brush all jews into your mindset, the few I’ve met in my life were not the paranoid racists of the sort you describe, they were people.

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By KDelphi, May 14, 2009 at 11:13 am Link to this comment

ITW—I know you would proabably disagree, but, most other Israeli supporters here know that I am NOT “anti-jew”.

But equating US Jewish peoples’ plight with those of other minorities in the uS, is just not accurate.To pretend that Jews, especiaLLY financially and politicaly have no more power than gays or Af Ams is just silly.

Sure, there are people who hate the entire Jewish race, but, the Zionist movement and AIPAC are certainly not helping things at all. Some of the speeches I heard there awhile back, just sounded medievil. Censoring those who do not support attacks on Gaza, is not helping either.

Now, I know how strongly you attack whenever you are questioned on this topic. But, please, try to think about this one. YOu honestly believe that there is as strong an Af Am or gay lobby as there is a Jewish lobby, in DC, NY, etc?

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By Inherit The Wind, May 14, 2009 at 9:44 am Link to this comment

PatrickHenry, May 14 at 6:36 am #

By Sepharad, May 14 at 2:50 am #

It’s a “jew thing” that us non-jewish zombies wouldn’t understand.

That is the condesending jist I get from your last couple of posts.

How stereotypical.
********************************

Condescending?  Well, from you posting history you’d consider ANYTHING condescending that tried to explain Jewish paranoia without beginning with an apology and ending with an admission that somehow, all Jews are wicked anyway.  So why worry about it?

It’s really easy to discount someone else’s paranoia. 

Men constantly discount and laugh at the Women’s Movement and have for 30 years.  How many times have your heard some fellow man say “Oh, they are just a bunch of ugly dykes”?  Plenty, I’ll bet.

How many Whites (and particularly Republicans) discount Black Americans’ paranoia: “What’s the big deal? They have equal rights.  If they are in the ghetto, then it’s THEIR fault—don’t spend MY tax dollars helping them!” ? 

Or the issues of Gays, wanting to be able to marry, but, long before that, to be able to care for sick, dying partners without having religious relations blocking them because they think it’s a sin?  How many of those nutty right-wingers STILL insist homosexuality is a “choice” and “soon we’ll be talking about man-on-dog”....Remember THAT?

So if you think YOUR facing condescension, I suggest you look in the mirror and see how many times YOU have been condescending about Jewish paranoia, just like the examples above.

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By PatrickHenry, May 14, 2009 at 3:36 am Link to this comment

By Sepharad, May 14 at 2:50 am #

It’s a “jew thing” that us non-jewish zombies wouldn’t understand.

That is the condesending jist I get from your last couple of posts.

How stereotypical.

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By Sepharad, May 13, 2009 at 11:50 pm Link to this comment

Inherit, Maybe I met your friend. Was also down there shortly after Cheney, Schwerner and Goodman were found murdered, and was DEFINITELY scared, but though spent a couple nights in a couple of jails, nothing bad ever happened to me. Minor unpleasantness of course. I think most of us were young and—hate to say stupid—naive, mainly because our parents had raised us (in my case not by lecturing but by example) to believe that all people were equal, deserved equal rights, and anything else was a gross aberration.

Such beliefs are evidence that people are progressing from the brutal bad old days, when no one saw anything wrong with the Darwinian aspect of the world—might makes right, empires rose when powerful and fell when weak, people conquered other peoples just because they could. But I think the experiences with totalitarians in the 20th century gave rise to the idea that it’s NOT OK to kill and steal land. If you already had done it before this line was crossed you got to keep it, no questions asked. Modern Israel’s problem is that it was born approximately the same time that the notion of any displacement of a people had passed its sell-by date, and the Israelis have always been held by the world to a higher standard by the rest of the world as by themselves (witness its jillions of human rights groups, soldiers refusing to serve on “occupied” land, etc). Unfortunately, at its inception the state was attacked by Arabs who still felt it was par for the course to overrun the country next door. And nothing hs changed since then, except that the Israelis have begun pretty aggressive in protecting themselves which, in light of present international politics and terrorist Iranian proxies on their north and south borders, is only making them take a harder line. I’ve been hoping for the Livnis and the left parties to make a change in the approach to disengaging from the Palestinians, but it’s all up for grabs now. Very bad situation. Though perhaps if the Obama people make it very clear to N&L that the settlements need to be frozen and, as frightening as it is, the West Bank will have to go back to the Palestinians,  it will have some moderating impact.

People like foggy see the paranoia as some kind of phony victimization syndrome, but he probably hasn’t read much about the rise of anti-Semitism in Europe (the Eu Parliament, thank G-d, is onto it now) to understand the continuing post Holocaust trauma is not about the past for anxiety for the future. Things in Germany coudln’t have been better for hundreds of years, just as they are in the U.S. now for Jews. Knowing that this could all change ovenight is the sense of uneasiness many Jews feel, and why so many of us are committed to an independent majority-Jewish state.

foggy’s right—I haven’t posted links, though a couple months ago I did cite some reports by a special permanent commission re anti-Semitism, created by the EU Parliament. I’ll try to find some books for him to read. Maybe not this week but soon. Too much is going on right now, and don’t get to spend as much time on computer. Anyway, am sleep-deprived and getting less than lucid so will cut it off here. Lead on, Macduff.

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By Inherit The Wind, May 11, 2009 at 4:34 am Link to this comment

..much better than banging your brain againt the TD zombie mantra. And people wonder what makes Jews paranoid.
***************************************

Nicely put, Sepharad. Jewish paranoia is rarely understood by non-Jews. 

A guy I knew, actually went to Philadelphia, Mississippi right after Schwerner, Cheney and Goodman were murdered to oversee the elections as an observer—New Yorker, Jewish.  Either he was very young and brave or very young and stupid, but in either case willing to lay down his life for the American Civil Rights movement—as S,C&G had done—and it was dangerous.

Yet this guy, as liberal as a person could be, put it this way to a Christian friend: “I know, as a Jew, sooner or later you and yours will want to kill me and mine, simply for being Jews.”

I cannot think of a better explanation of our paranoia than that.  And, of course, many of the posters here at TD prove my acquaintance right every day, as they invent and repeat fantasies about Jewish conspiracies and a cabals, and pretend Jews control the media, the banking industry and even the decisions of the President.

As the old saying goes: Just because you’re paranoid doesn’t mean they are NOT out to get you!

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By Sepharad, May 10, 2009 at 10:57 pm Link to this comment

Inherit, You are never going to be able to get through to people who don’t know that the gulf between religious and secular zionists is greater than the gulf between American’s populists and elitists, between the visions of the KKK and the Black Panthers. If they would familiarize themselves in some depth with the political situation and players in Israel, they’d understand, but that would require a lot of reading material that doesn’t reinforce their simplistic fantasies. You have to just accept that they don’t WANT to understand. It’s so much easier to portray all Israelis as the big bad wolf and all Palestinians as Mary’s little lamb, blindly jumping on the anti-Israel bandwagon where they can all feel cozy and good about themselves without doing a damned thing to change the situation for the better. (I admire you for trying, but it’s really pearls before swine. Better to use your considerable mental energy to do whatever you can to undercut the religious and support the secular; it’s depressing and uphill all the way, but at least in a direction that makes sense, much better than banging your brain againt the TD zombie mantra. And people wonder what makes Jews paranoid.)

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By foggyjones, May 10, 2009 at 2:37 pm Link to this comment
(Unregistered commenter)

TRUST? SO WHERE DOES THIS LEAVE US?


Since virtually all polls show most of middle America does not trust the u.s. congress, why the hell would we trust anything coming out of israel?

shirley, you must be kidding. just say no!

what is more, mainstream media even rates below congress - no trust, no confidence, just supressed rage. those sharks have done a number on us.

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By KDelphi, May 10, 2009 at 11:06 am Link to this comment

PatrickHenry is spot on, kiddies.

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By PatrickHenry, May 8, 2009 at 6:19 pm Link to this comment

By Inherit The Wind, May 7 at 11:24 pm #

Not true ITW, I’ve never said I didn’t like you.  I am close to your opinion on many issues.

I don’t like the name calling as it is a distraction and becomes a side show from the real issue. 

Your broad brush knee jerk responses to criticism of
some jews as criticism of all jews is misplaced.

I don’t want my nations banking, media and government controlled by any one ethnicity, religion or sex.  When one group does obtain a de facto monopoly over these essential services things invariably go wrong. 

I agree with your view on Bush, Gramm, Gingrich, DeLay, Paulsen, Cheney, Rumsfeld, Cornyn, Hatch, O’Neil, Rice, McConnell.  I wish I could serve on the jury at their trials.

The PNAC crowd, Abe Foxman and the ADL, the JTA and the spies at AIPAC hold a special place in my heart too.

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By Inherit The Wind, May 8, 2009 at 4:44 pm Link to this comment

foggyjones, May 8 at 6:36 pm #

FRIDAY   534 PM/CST   DFW

REF: “G"utless “W"itless Hitler & Inherit the Wind


DUMB AND DUMBER.

****************************************

Careful, you’re gonna strain yourself, you know, hurt your brain—it’s so fragile

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By Inherit The Wind, May 8, 2009 at 3:25 pm Link to this comment

“G"utless “W"itless Hitler, May 8 at 4:11 pm #

I agree.  Grow up!  It’s not all the fault of the Jews, just the bad ones.
***************************

Like Bush, Gramm, Gingrich, DeLay, Paulsen, Cheney, Rumsfeld, Cornyn, Hatch, O’Neil, Rice, McConnell.  You know, all them damn Jews….

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By "G"utless "W"itless Hitler, May 8, 2009 at 1:11 pm Link to this comment

I agree.  Grow up!  It’s not all the fault of the Jews, just the bad ones.

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By Inherit The Wind, May 8, 2009 at 12:58 pm Link to this comment

Henceforth, I will be more careful. If only more people could grasp how they have managed manipulate so many global events. It has become an epic struggle between good and evil.
*******************************
What are you, living in “Mein Kampf” and “Protocols”? Where do you get this $#it?  More importantly, why do you believe it?  Are you SO desperate for an easy scapegoat for the evil in the world, evil YOU let happen as much as anyone?

Grow up! Grow some brains and some balls and face the world as it is and stop whining “I never had a chance. It’s all the fault of the Jews.  WAHHHH!!!!”

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By truedigger3, May 8, 2009 at 9:31 am Link to this comment

foggyjoenes, PatrickHenry et al..,

It is unfair and unwise to blame a whole group of people for the misdeeds of few individuals.
Blaming all the jews for the misdeeds of some jews
in Wall St. is not fair and it will be playing right
into AIPAC and the zionist lobby who want to make
the jews feel insecure everywhere so that they keep supporting Israel and be isolated from main stream.
Few times there were anti-semitic incidents in France and Italy and it turned out these incidents
were fabricated by zionist pro-Israel elements.
Please stop the stereotyping and generalization.

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By truedigger3, May 8, 2009 at 9:15 am Link to this comment

Inherit The Wind wrote:
“I’ve ALWAYS been a critic of the Jingoist and religious Zionists.”
_____________________________________________________

IWT,

Regarding the attitude of Israel and its behaviour
toward the Palestinians, there is no difference between what you so call religious zionists and secular zionists.
Both of them supported and are supporting the atrocities committed and are being committed against
the palestinians by Israel
Both of them supported and are supporting stealing
and confiscating Palestinian lands and pushing the
Palestinians into a life of unimagainable suffering and hardship in refugees camps and urban Ghettos.
Who recently destroyed Ghaza and killed about 1300
Palestinians and wounded about 5000 and used
phosphore and cluster bombs against heavily populatd
urban area.
You and Sepharad should knock off that bullshit about
beinng secular zionists. You support Israel and its
crimes and naming yourselves any name will not hide
that glaring ugly fact.
You might be bullshitting yourselves, but you are
not bullshitting anybody else. Face and confront
the painful facts.

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By samosamo, May 7, 2009 at 9:22 pm Link to this comment

By foggyjones, May 7 at 10:40 pm

Then that comment and link were not meant for you as I realize it was done on April 3rd. I have seen you commenting in several posts, which one or ones were you commenting on Black?

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By Sepharad, May 7, 2009 at 9:18 pm Link to this comment

foggy, how can you tell who your real enemies are if you won’t look where the money and power really is? Only suggest Fortune and WSJ because they keep track of and reflect the very people and issues you are going on about; would be a reality check. If Jews are so politially powerful, how come there’s never been a Jewish President? WASPS have held the office most of the time, though we finally got a Catholic, presently have a racially-mixed President, and almost got a woman. No Jew has even run for President. Why do you think that is? Anyway, it should reassure you.

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By Inherit The Wind, May 7, 2009 at 8:24 pm Link to this comment

BTW,
PatheticHenry may not like me much, but I think he’s too bright to believe I was sent here as an agent of Goldman, Sachs.

He thinks I’m an independent idiot and rabid Zionist.

I can’t contradict the former but as for the latter, I’ve ALWAYS been a critic of the Jingoist and religious Zionists.

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By Inherit The Wind, May 7, 2009 at 8:15 pm Link to this comment

FoggyJones uses a typical cheap tactic used here all the time: Someone says something he doesn’t want to hear so he IMMEDIATELY adapts the Joe McCarthy tactic of accusing that person of being an “agent”.  In this case he accused me of being an agent of Goldman, Sachs.

Sorry asshole, but I’m not! Never worked with, for, or even against Goldman and neither has my wife. Your ONLY basis for such an asshole attack is…you don’t want to believe that you, Prole and PatheticHenry are fundamentally no different than Nazis and KKK and the ultra-fundamentalist Moslems—you assert ulterior motives and even demonic powers to Jews. 

And I’m NOT going to appologize for calling you an asshole because that’s what you are—for calling a agent of Goldman, Sachs.  I’ve been around here posting a hell of a lot longer than you, and I’ve been called every name in the book and a few that haven’t even made it into the book. 

What’s the matter, “Fortune” and “Forbes” don’t match the latest hip, crackpot website that blames every evil on the world on Jews?

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By samosamo, May 7, 2009 at 6:41 pm Link to this comment

In case anyone missed this interview of William Black by Bill Moyers, here’s the link:

http://www.pbs.org/moyers/journal/04032009/watch.html

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By PatrickHenry, May 7, 2009 at 5:18 pm Link to this comment

By foggyjones, May 7 at 11:51 pm

Get use to ITW being a broken record.  I think it’s his/her job here.  Part of the pro-jewish, pro-Israel propaganda machine.

Anti-semite, nazi, KKK, is what they (the American-jewish zionists who post here) call you if you don’t agree with them. 

Just point out the discrimminatory and racist practices ethnic jews accord each other in banking, media and government against non jews and zap, the self appointed mediators will label and package you in a New York minute. 

It’s an organized effort all over the web to defend indefensible positions by subterfuge, obfuscation and especially by just changing the friggen subject to victimhood.

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By Sepharad, May 7, 2009 at 5:17 pm Link to this comment

foggy and prole, if you aren’t convinced by Outraged and Inherit, I suggest you take a look at Fortune’s and the Wall Street Journal’s annual lists of the richest men in the world, especially the financial world. You will be disappointed to find relatively few Jewish names among them.

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By samosamo, May 7, 2009 at 4:49 pm Link to this comment

By truedigger3, May 7 at 1:40 am
““Thie will never happen unless a viable third party
emerges.”“
**********

I thought that what I did comment: ‘My biggest hope is that the incumbent crooks are voted out and replaced with people unattached to any corporate will or cash bribery by lobbyist.’
covered that but I will try to be more precise in the future.

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By Inherit The Wind, May 7, 2009 at 4:40 pm Link to this comment

foggyjones, May 7 at 6:17 pm #

FRIDAY   507 PM/CST DFW

REF: INHERIT THE WIND


Your rant is very revealing. Your passion and loyalty is too familiar. The heart and soul of the mortgage banking compiracy and meltdown. The basis of the self delusion and root of the abomination of an amoral and relentless quest for wealth and power.

If the familiar face of AIG found, Maurice “Hank” Greenberg, is not part of The Tribe, for goodness sakes, who is?

Whether you are simply confused or ill-informed or you are a hard-working disinformation agent, nobody here is interested in such rubbish. Hope you do not return to take up important space on this string.

Don’t go away mad, just go away.

**********************************************

My wife has worked on Wall Street for over 20 years and I can DAMN WELL guarantee that almost ALL of the major houses, both those in existence and those that are gone had 10 Irishmen for every Jew in leadership.  The numbers of “Mulcahy"s and “McCaffreys” were far more common than “Members of the Tribe”.  And that’s a simple fact that anti-semites like you and Prole refuse to recognize.

The great battle for control of Goldman-Sachs was Henry Paulsen pushing out Jon Corzine.  Either of those names sound “Jewish”?  No!

In fact, in almost every trading house on The Street, with the exception of Saloman Bros. Jews were EXCLUDED from the C-Level jobs for decades, all the way to the end of the 1990s.

It’s another neo-nazi/KKK myth that Jews ran Wall Street.  And what does that make those who buy into it?

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By KDelphi, May 7, 2009 at 3:16 pm Link to this comment

Part of the problem, is , people censoring other people.

Both sides need to grow up and stay off the !!!!!!!!!!! button.

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By NYCartist, May 7, 2009 at 1:57 pm Link to this comment

It’s hard for some of us regular folks to keep track of all the corruption, in particular, the details of why it is corruption.  It’s why we’re reading here.

The corporate media keeps it as foggy as possible, I am sure.  A kind of variation on Margaret Thatcher’s axiom “nothing can be done”, so let us get on with what we knew here as Reagonomics.

ProPublica has a great section on the whole financial mess.  It built it up over months. http://www.propublica.org

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By Inherit The Wind, May 7, 2009 at 1:25 pm Link to this comment

Outraged, May 7 at 5:33 am #

Re: prole

Your comment: ““We are so inured to tales of” Shylockian corruption “that even a devastating exposé in The Wall Street Journal no longer shocks us.”

Yes…. this is true, but it certainly is not the “end of the story” so to speak.  I question your comments regarding “Jews” specifically.  Do we have an unhealthy alliance with Israel…. I certainly think so, but this I consider a NATIONAL alliance… ie. Israel.  In this regard, I sense that there is trouble afoot, which I also sense has more to do with Christians than Jews, although superficially it appears Jewish.

There is a “strange bedfellows” theme to this anomaly.  There is the Likud party, and then there are People who are Jewish.  There are People who are Christian and there are Christians who are RADICALS.

It is much easier, though difficult… to assess the situation from a standpoint of FAIRNESS and JUSTICE, than of religious or tribal origin.
********************************************

Two fantastic posts, Outraged!

I’ve reported Prole. His blatant anti-semitic remarks keep getting worse and worse, and, as you pointed out are filled with lies.

Jews don’t run Wall Street. Despite the names “Lehman” and “Goldman” they weren’t Jewish-founded or run firms.  The BIGGEST crooks on WS were the leaders of them, AIG, and others, and, other than Madoff, few, if any were Jews. 

But it’s the oldest slander in the world…“Rich Jew bankers!”  And Prole spews them out like vomit from a drunkard. 

Soon Prole will turn on Asians.  After all, here on the East Coast their kids are now taking over in the schools as the smartest and the top of the class.  To which I say: GOOD!  They study harder, that’s why! They don’t “dis” each other for getting good grades, for staying in to finish homework, for practicing the violin or clarinet. And they don’t make excuses for not doing their work.

And my Jewish kid keeps up and even ahead of them because HE studies just as hard and with just as much discipline, when many of his friends are a click behind, because they don’t study as hard!

So you can just eat your racist, bigoted heart out, Prole, and blame everything on everyone but yourself.

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By AT, May 7, 2009 at 10:07 am Link to this comment
(Unregistered commenter)

Whn youare tired of playingheads you win, tails I lose”, ask yourself this question:” Who signed Timothy Geditner"s paycheck or for that matter Bernd Bernanke?

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By Thomas Mc, May 7, 2009 at 9:07 am Link to this comment

politics is organized crime

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By Jaded Prole, May 7, 2009 at 7:19 am Link to this comment

The question that holds the answer here is will Obama take Freidman and others to task, enforce the law and insure that corruption and conflict of interest are rooted out or is he part of the crooked cabal of financiers that have created the present crisis? His actions will give us the answer.

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By Outraged, May 7, 2009 at 2:33 am Link to this comment

Re: prole

Your comment: ““We are so inured to tales of” Shylockian corruption “that even a devastating exposé in The Wall Street Journal no longer shocks us.”

Yes…. this is true, but it certainly is not the “end of the story” so to speak.  I question your comments regarding “Jews” specifically.  Do we have an unhealthy alliance with Israel…. I certainly think so, but this I consider a NATIONAL alliance… ie. Israel.  In this regard, I sense that there is trouble afoot, which I also sense has more to do with Christians than Jews, although superficially it appears Jewish.

There is a “strange bedfellows” theme to this anomaly.  There is the Likud party, and then there are People who are Jewish.  There are People who are Christian and there are Christians who are RADICALS.

It is much easier, though difficult… to assess the situation from a standpoint of FAIRNESS and JUSTICE, than of religious or tribal origin.

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By Outraged, May 6, 2009 at 11:55 pm Link to this comment

I see my youtube link wasn’t “on par” so to say.  This should work:

http://www.youtube.com/watch?v=wAV87X5keQ0

Re: foggyjones

Your comment: “We need to reevaluate our system and realize that some traditions are obsolete and no longer appropriate. Due to the circumstances of this era, everything must be examined and reconsidered. I propose we start with mainstream media, it is serving to spread propaganda and confuse ordinary people.”

Exactly. It is imperative we look at everything anew and utilize all RELEVANT and new-found information, much of which is now readily available.  I also feel strongly that without accountability regarding torture, the banksters, and blatant corruption, the goal of democracy will perish, at least for us.

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By Outraged, May 6, 2009 at 10:55 pm Link to this comment

Re: ITW, truthdigger3 and foggyjones

Regarding the ECONOMICS of fascism all of you are correct, both were utilized, dependent upon ideology, control, need, ease, or inherent power at the time.

“Under fascism, the state, through official cartels, controlled all aspects of manufacturing, commerce, finance, and agriculture. Planning boards set product lines, production levels, prices, wages, working conditions, and the size of firms. Licensing was ubiquitous; no economic activity could be undertaken without government permission. Levels of consumption were dictated by the state, and “excess” incomes had to be surrendered as taxes or “loans.” The consequent burdening of manufacturers gave advantages to foreign firms wishing to export. But since government policy aimed at autarky, or national self-sufficiency, protectionism was necessary: imports were barred or strictly controlled, leaving foreign conquest as the only avenue for access to resources unavailable domestically. Fascism was thus incompatible with peace and the international division of labor—hallmarks of liberalism.

Fascism embodied corporatism, in which political representation was based on trade and industry rather than on geography. In this, fascism revealed its roots in syndicalism, a form of socialism originating on the left. The government cartelized firms of the same industry, with representatives of labor and management serving on myriad local, regional, and national boards—subject always to the final authority of the dictator’s economic plan. Corporatism was intended to avert unsettling divisions within the nation, such as lockouts and union strikes. The price of such forced “harmony” was the loss of the ability to bargain and move about freely.”

Additionally:
“Mussolini’s corporate state “consider[ed] private initiative in production the most effective instrument to protect national interests” (Basch 1937, p. 97). But the meaning of “initiative” differed significantly from its meaning in a market economy. Labor and management were organized into twenty-two industry and trade “corporations,” each with Fascist Party members as senior participants. The corporations were consolidated into a National Council of Corporations; however, the real decisions were made by state agencies such as the Instituto per la Ricosstruzione Industriale, which held shares in industrial, agricultural, and real estate enterprises, and the Instituto Mobiliare, which controlled the nation’s credit.

Hitler’s regime eliminated small corporations and made membership in cartels mandatory.1 The Reich Economic Chamber was at the top of a complicated bureaucracy comprising nearly two hundred organizations organized along industry, commercial, and craft lines, as well as several national councils. The Labor Front, an extension of the Nazi Party, directed all labor matters, including wages and assignment of workers to particular jobs. Labor conscription was inaugurated in 1938. Two years earlier, Hitler had imposed a four-year plan to shift the nation’s economy to a war footing. In Europe during this era, Spain, Portugal, and Greece also instituted fascist economies.

http://www.econlib.org/library/Enc/Fascism.html

But this regards the ECONOMICS of fascism only, and there is much more to fascism than its economics.  I agree, this is a fascist banking model, the business and industry portion I believe became fascist during G.W. tenure.  This is one aspect of fascism, there are 14 distinct points…..remember.  But even these fourteen miss alot, it’s “the nutshell version”.  I sense Obama IS attempting to turn the “ship of state”, this is not a simple task.  On the upside, he is not alone.  We need to challenge AND hold accountable our congress and President, but we do not want to shoot ourselves in the foot either.

http://www.youtube.com/results?search_type=&search_query=erich+blumrich&aq=f

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By truedigger3, May 6, 2009 at 10:40 pm Link to this comment

samosamo wrote:
“My biggest hope is that the incumbent crooks are voted out and replaced with people unattached to any corporate will or cash bribery by lobbyist.

Then hopefully still there will come the real investigations, prosecutions and punishment meted out to those well deserving of hard time and fines for their crimes.”
___________________________________________________

Thie will never happen unless a viable third party
emerges.

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By samosamo, May 6, 2009 at 10:25 pm Link to this comment

I just went over to msnbc and found this post which I find rather incredible for a MSM venue:

http://cosmiclog.msnbc.msn.com/archive/2009/05/06/1924384.aspx

I am going to bed but maybe some will check it out.

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By samosamo, May 6, 2009 at 10:06 pm Link to this comment

By foggyjones, May 6 at 9:19 pm
““You sound like you are past frustated and angry, that is when that hopeless depression sets in.”“
***********************************************

I can’t deny to not being depressed about what is happening and I am fustrated at the lack of anything more than rhetoric which is a venting of sorts by any and all of us. But not hopeless.

I do believe that the people will reach a breaking point where they/we will actively try to fix things.

My biggest hope is that the incumbent crooks are voted out and replaced with people unattached to any corporate will or cash bribery by lobbyist.

Then hopefully still there will come the real investigations, prosecutions and punishment meted out to those well deserving of hard time and fines for their crimes.

Plus I make a point of having other interests that take me away from this crap, and that does not include tv which I don’t have except for watching and occassional old movie or documentary on dvd or tape.

Lord amighty you would be probably real close to correct about that ‘hopeless’ depression if I were to still be watching msm on the boob tube.

Like an addict, I am ten years free of that shit.

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By Sepharad, May 6, 2009 at 9:27 pm Link to this comment

Psickmind, Andrew Jackson had his dark side (to say the least), but the man WAS a populist and I wish we had someone with his orientation and clout. Thanks for the quote.

ardee, thanks for the FDR quote. Where has all the clarity and integrity gone? How have we gamed ourselves into such a ridiculous, untenable position?

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By KDelphi, May 6, 2009 at 9:17 pm Link to this comment

samosamo—yes, but they want the WHOLE pie, not a piece..

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By samosamo, May 6, 2009 at 5:59 pm Link to this comment

I wonder what obama’s sach’s cut is for maintaining the status quo?

Instead of hope from a new president it becomes more and more evident that the only thing new is that this new president is called a democrat and his skin is black, otherwise I can tell not a jot of a difference in him and his predecessor, w.

I still feel that Senator Sanders is just one of the very few in congress that have the voice of the people as the reason for serving in congress, the vast majority are crooks wanting a piece of the pie.

And it is very evident from the past few days of congressional hearings on healthcare, not to mention any of congresses’ past several decades of corporate welfare at the expense of the taxpayer, that congress is just one absolutely crooked institution, and are nothing less than the puppets of the lobbyists with the taxpayer’s pockets on their minds.

And all these creeps, even though they claim loyalty to their party(the new patriotism), they are members of just one party, the ELECTORATE, of which there is not more than 10% of the ELECTORATE truly deserving to serve in a public office, Senator Sanders is one of them.(That leaves just under 53.5 members that might vote for the people instead of their own bank accounts)

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By Wilma, May 6, 2009 at 4:54 pm Link to this comment
(Unregistered commenter)

The reference to a “secret purchase” is off-base.  The purchase was all over the financial trades immediately, and was hailed as an indication of Wall Street’s resurgence…

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By thebeerdoctor, May 6, 2009 at 4:21 pm Link to this comment

“It must be obvious… that the old rights of the free American, so carefully laid down by by the Bill of Rights, are now worth nothing.”
H.L. MENCKEN

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By truedigger3, May 6, 2009 at 3:40 pm Link to this comment

Inherit The Wind wrote:
“Batting 1.000! Wrong again!  It’s a gift, you know.

Hitler most certainly touched industries, particularly the arms industry.  It was as Minister of Armaments that Albert Speer showed his true genius”
____________________________________________________

You are the one who is definitely wrong this time.
Putting the industry on a centralized war footing does not mean nationalizing it. The United States did that and the British did that too.
This lasted only until the war ended. Had the Germans
won the war they would have done exactly the same
and returned to normal after the war.
Will you please stop and think before you pull the
trigger. Jee..

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By ardee, May 6, 2009 at 2:44 pm Link to this comment

foggyjones:
I wish someone who has studied the details of this national democratic thinking toward industry and employment and economics. I wonder if they had not began WW2, what would likely have happpen. Like I said, I got the impression everything was going fine until Hitler invaded Poland and the Musse invaded Ethiopia. Please share the “truth”.
.........
I do not know the whole truth but I do know that this nation of ours has been controlled by corporations,run for corporations and excluded the working class for a very long time. One specific example would be the building of the railroads in the late 1800’s.

With inside information supplied by govt bureaucrats and politicos the railroad executives purchased land ahead of the expansion and resold that land to their own corporations for greatly inflated prices. This was only one such way to make millions , and in 1880 a million was real money!

http://www.questia.com/library/encyclopedia/union_pacific_railroad.jsp

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By Skwid, May 6, 2009 at 2:25 pm Link to this comment
(Unregistered commenter)

A good documentary on all of this is “Money Masters” or “Masters of Money” on freedocumentaries.org It was created in 1994 before the Glass/Steigel act was recinded and it all hit the fans. It is long but very informative and sure helps all this make sense.

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By KDelphi, May 6, 2009 at 12:49 pm Link to this comment

Shift—Yes, if they had allowed Sanders amendment to the bailout, the right people would, at aleast,. be paying SOME of the cost!!

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By Mary in Seattle, May 6, 2009 at 12:11 pm Link to this comment

Incredible.

J.P. Morgan’s bank was the Goldman Sachs of his day.  At one point during the Panic of 1907 Morgan wanted to work out some deal with the Government.  He suggested that Teddy Roosevelt “send his man to meet Morgan’s man” to “work things out.”  T.R. had to remind Morgan that the Government was not just some other commercial entity, with whom Morgan could make a deal as if he was making a deal with, say, Barclays of London.

At least Morgan had a strong sense of fiduciary duty to those whose funds he managed and invested.  The same cannot be said by his successors at Goldman Sachs.  And we increasingly fear Obama ain’t no TR!!

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By KDelphi, May 6, 2009 at 11:08 am Link to this comment

Does any of this sound familiar? Even some of the names are the same..Shock Doctrine Capitalism or The Volcker Shock: “The Shock Doctrine”, Naomi Klein, pp 196-99 and other refs.

(In this case, Argentina, but, it was repeated hundreds of times by the Chicago Boys, in the Southern Cone of Latin America) Maybe they were just warming up…

“...The remainder of the national debt was mostly spent on interest payments, as well as shady bailouts for private firms. In 1982, just before Argentina’s dictatorship collapsed, the junta did one last favor for the corporate sector….Cavallo, president of Argentin’as central bank, announced that the state would absorb the debts of large multi national and domestic firms that had…borrowed themselves to the verge of bankruptcy…tidy arrangement meant that these companies continused to own their assets and profits, but the public had to pay off between $15 and $20 billion of their debts; {dictator debt}..among companies to receive this gernerous treament were Ford Motor Argentina, Chase Manhattan, Citibank, IBM and Mercedes-Benz”...even Larry Sjaastad, a famed U of Chicago prof, who had personally trained Argentina’s Chicago boys, had described these missing billions (stolen under the noses of his students) and “the greatest fraud of the twentieth century”.

But, Russia’s Boris Yeltsin and the US’s neo-liberal/neo-conservative rip-offs were yet to come!

As Ernest Hemingway said, on (electro) Shock Therapy, shortly before committing suicide, “Well, what is the sense of ruining my head and erasing my memory, which is my capital, and putting me out of business? It was a brilliant cure but we lost the patient”.

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By Shift, May 6, 2009 at 10:45 am Link to this comment

Here is more on how the Banks repay the American People for bailing them out.

http://sanders.senate.gov/files/credit-card-booklet.pdf

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By "G"utless "W"itless Hitler, May 6, 2009 at 9:36 am Link to this comment

Yeah right, ownership of industry remained in private hands.  Just like ownership of our government remains in our hands.  I’m sure Krupp could’ve decided to stop making field guns if he wanted to, huh?  Just like we can vote for a candidate that actually represents our interests.

nom-i-nal?
–adjective
1. being such in name only; so-called; putative.

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By Inherit The Wind, May 6, 2009 at 9:35 am Link to this comment

truedigger3, May 6 at 12:00 pm #

foggyjones wrote:
“I can see why the “fascism” word is being tossed about. In its simplest form the Nazis of the Thirties and Fascists under Mussolini nationalised coporations”
____________________________________________________

You are absolutely WRONG in this one. Hitler and Mussolini didn’t nationalize corporations. They
only took control of the Central Banks and the issuance of money away from bankers but they didn’t touch industrial corporations

****************************************

Batting 1.000! Wrong again!  It’s a gift, you know.

Hitler most certainly touched industries, particularly the arms industry.  It was as Minister of Armaments that Albert Speer showed his true genius, manipulating and maneuvering the industrial might of Germany to continue and IMPROVE the flow of arms in the face of Allied precision bombing.  After the War, an American general said that if we had known JUST how effective Speer was, an assassination team would have been put together to kill HIM rather than Hitler.

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By truedigger3, May 6, 2009 at 9:00 am Link to this comment

foggyjones wrote:
“I can see why the “fascism” word is being tossed about. In its simplest form the Nazis of the Thirties and Fascists under Mussolini nationalised coporations”
____________________________________________________

You are absolutely WRONG in this one. Hitler and Mussolini didn’t nationalize corporations. They
only took control of the Central Banks and the issuance of money away from bankers but they didn’t touch industrial corporations

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By Shift, May 6, 2009 at 8:24 am Link to this comment

Sachs is a player but banking goals run much deeper.

http://www.globalresearch.ca/index.php?context=va&aid=13510

If the link does not work, copy it and place it in your browser window.  The article is an important read in providing broad perspectives and makes sense out of continuing political and governmental decision making.

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By G.Anderson, May 6, 2009 at 8:24 am Link to this comment

There is no hope for any of us we are doomed.

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By psickmind fraud, May 6, 2009 at 7:07 am Link to this comment

I think Andrew Jackson knew these guys:

Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out.

The bold effort the present (central) bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.

If Congress has the right under the Constitution to issue paper money, it was given to be used by themselves, not to be delegated to individuals or corporations.

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By tomack, May 6, 2009 at 7:01 am Link to this comment

ardee—we are not a lawless nation, but one with selectively applied laws.

beerdoc-apropos reference to the Bertolucci movie. Other movies that come to mind are The Godfather, Public Enemy, Wall Street, and Rape of a Nation—the last one is my movie…still in production as I haven’t come up with an ending yet. Should I wait for the inspiration to hatch a happy ending, or just push the big red button now?

I’ll wait a bit; I am an eternal optimist.

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By thebeerdoctor, May 6, 2009 at 6:44 am Link to this comment

Since fascism is unavoidable with the present topic of discussion, I can not help remember a scene from the movie 1900 (Novecento) by director Bernardo Bertolucci, which chronicles the rise of fascism in early 20th century Italy. It’s the scene where the owners have decided to do something about quashing the demands of the peasants, where they meet in their local catholic church (where else?) and take up a collection plate to funnel money back to the black shirts, to get the job done…
But fascist banking techniques does not require such overtly brutal symbols. Standards of assumed secrecy concerning their economic activities, becomes a policy unto itself. Why else have banks delayed releasing the details of what they are doing with the government handout money? It is obvious enough, if only you stop looking at television news for a moment. As Arianna Huffington has pointed out: “the banks are using this time to negotiate how much information about their portfolios the hoi polloi will be privy too”... Now that is what I call fascist banking. Whether it is the military operations, or banking operations, there will be no transparency. An idiotic blind faith in the anointed experts is what is expected of the population, no more and most certainly, no less.

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By Inherit The Wind, May 6, 2009 at 5:24 am Link to this comment

I think what depresses me is that it’s clear that the WSJ only picked up this story because it would embarrass Obama and had it been a Bush buddy they would have suppressed it.

The WSJ lost all pretense of objectivity years before Murdoch bought it to be yet another Volkischer Beobachter for him, in his armory of such mouthpieces (Faux Noise being the loudest).  Yet long before, the WSJ was following Jack Kemp’s “boneheaded” plan to de-tax the wealthy as a magical cure for all economic ills.

Yet it’s irritating that this guy wasn’t purged.  Apparently, Geithner followed the rules, requesting the waiver for Freedman, but didn’t rip him a new a-hole when he went and broke them.

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By Purple Girl, May 6, 2009 at 5:08 am Link to this comment

The Fed Reserve has been pretending to be a Constituionally mandated Agency for about a century, and it is very likely that Sachs was one of it’s founder. Let’s not get confused here- Federal Reserve Laws do not necessary indicate US laws. In fact the Fed Reserve has probabaly been the focal point of economic treason since it’s inception. The Fed REserve is nothing more than the Bankers Bank- owned and operated by bankers.and we all know how much alliegnece Bankers have pledged to US over the century- absolutely None.
Could Sach be the heart & Soul of the Federal Reserve, possible. But since the non Federal agency has been growing in power, it’s unlikely. More like the Oldest head.So Taking down Sachs may lop one head of the Hydra, put it will not kill it.
In that Convoluted ‘expose’, a few other points were blatantly missed- first the ‘creditabilty’ of the WSJ. Not only the fact Murdocks possibly facing a dismantling of his media monopoly via the FCC, but may involve the SEC too.The WSJ has not been the eptiome of unbiased journalism, even before Murdock- they are there to service the WS titans, not the American People- as so blatantly affirmed in their name.so who the hell trusts the WSJ to begin with, or since Murdock took over.
Next the leap of logic that All proteges remain beholden to their former mentors- not necessarily, esp when faced with national exposure.Geithner may still admire his teacher, but it does not mean that when his balls are on the line he’ll choose the ax to spare Rubin or Summers.
Lets be honest here- the Dept of the Treasury was Gelded long ago, and all essential duties and powers were seized by the decpetive misnomer Ther Federal Reserve. Actually I am pleased to see Geithner give back some teeth (and Balls) to the Dept who was rendered impotent and delegated the menial duties of merely printing more money for the Feds Monoploy Game and irrelevant legal enforcement of just the ATF.
Truely if we want to regain control of our Soveignty economy, we must dismantle the Federal Reserve. That would enable US to not only put Sachs back in it’s place but the others who make up the Treasonous Conglomerate.
But after nearly a century this Hydra will not be brought down with just an ax- infact to do so may leave US in a far more perilous position and fate. We need to begin to starve the beast- reclaiming powers that should be the sole right and responsibility of OUR Treasury Dept.
If we are going to hold Geithner legally responsible for his minor part in this epic venture- then we also need to hold those who passed legislation granting such unbridled powers to bankers and the Federal Reserve. and Many of the players will have to be tried in absentia- since they are long since dead.
It could give a Shit what the By laws of the Federal reserve are- I am more interested who overturned the US laws giving the Federal Reserve Controlling powers over our economy over the last few decades. They were at one time restrained, but bills like the Modernization Act removed the leash- those are the ones who not only destroyed our economy, but committed economic treason.They are the ones who legitimized the criminal activities, so that now we can not go back and prosecute the players.
do I think Geither has always been on the Up& Up- No. But what does give me some peace is the fact Geithner is young enough to not only survive a lengthy trial, if determined he is culpable, but also live to fulfil his sentence. Also I have to take heart in the fact, Geithner, like our new Pres, sees the future every night when he gets home, in the eyes of his young children. That is not only humbling, but a motivator.

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By Big B, May 6, 2009 at 4:33 am Link to this comment

the privatisation of the american federal gov and it’s subsequent fleecing by those private entities continues under pres Barry.

So it isn’t really about a donkey and an elephant, it’s been about the color of money all along.

How American! And how sad!

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By mmadden, May 6, 2009 at 4:16 am Link to this comment

And CitiCorp needs an additional 10 billion as well. So much corruption and malfeasance and just where is all this money coming from anyway? At this point all I care about is keeping my head above water and pay my bills. There is too much going on for me to worry about anymore.

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By thebeerdoctor, May 6, 2009 at 3:59 am Link to this comment

Ardee’s quote from FDR is quite appropriate. The word fascism is brandied about, but that definition by FDR gets to the core of it.
Now it is being reported that Bank of America (or BofA as it is called on the news page) is going to need another $35 billion just to stay afloat…

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By truedigger3, May 6, 2009 at 3:47 am Link to this comment

It is not one rotten apple or few rotten apples.
It is the whole barrel is rotten from top to bottom
and the apples are mixed with bull shit.
The way the apples are picked and stored should be changed fundemnetally. The apples should be clean
befor storage and are stored in clean, dry well lighted cold place and watched closely for any sign
of fungus.

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By ardee, May 6, 2009 at 3:02 am Link to this comment

We are apparently a lawless nation, and a place where amorality is an every day occurrence.

“The first truth is that the liberty of democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than the democratic state itself. That, in its essence, is fascism-ownership of government by an individual, by a group, or by any other controlling private power.”  Franklin Delano Roosevelt

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