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Still Doing God’s Work on Wall Street

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Posted on Nov 25, 2009
Geithner
AP / Jose Luis Magana

Treasury Secretary Timothy Geithner testifies last Thursday on financial regulatory reform before the Joint Economic Committee.

By Robert Scheer

Jail, anyone? Perhaps that’s too harsh, and at any rate premature, but is anyone ever going to be held accountable for the behind-the-scenes sweetheart deals that passed tens of billions of taxpayer dollars through the AIG shell game to the very banks that caused the financial meltdown? Or for the many other acts of double-dealing that left one out of three American homeowners owing much more than their houses were worth while the folks who swindled them were rewarded with hundreds of billions in public money?

Undoubtedly not, since the same folks who are most culpable wrote the laws that made this, and the other scams at the heart of the banking collapse, perfectly legal. And guess what? They’re back at work in the government, writing the new laws that will, they claim, prevent us from being had once again. As a telling example of that process at work, check the official response of the Department of Treasury to the devastating report by the special inspector general for the Troubled Asset Relief Program (TARP), Neil M. Barofsky, titled “Factors Affecting Efforts to Limit Payments to AIG Counterparties.” The main factor was that Timothy Geithner followed the lead of Goldman Sachs CEO Lloyd “I’m Doing God’s Work” Blankfein in crowding the lifeboats with bankers.

Geithner, now treasury secretary, was previously the president of the Federal Reserve Bank of New York (FRBNY), where he negotiated the deal to pay Goldman Sachs and the other top banks in full to cover their bad bets on securitized mortgages. Barofsky’s report concluded that Geithner’s scheme represented a “backdoor bailout” for the financial hustlers at the center of the market fiasco. Noting that Geithner denies that was his intention, the report states, “Irrespective of their stated intent, however, there is no question that the effect of FRBNY’s decisions—indeed, the very design of the federal assistance to AIG—was that tens of billions of dollars of Government money was funneled inexorably and directly to AIG’s counterparties.”

Not surprisingly, the Treasury Department that Geithner now heads defended his actions in not forcing “haircuts” on the full dollar-for-dollar payoff by AIG to the banks while he was at the New York Fed: “The government could not unilaterally impose haircuts on creditors, and it would not have been appropriate for the government to pressure counterparties to accept haircuts by threatening to retaliate in some way through its regulatory power.”

Nonsense, argues Eliot Spitzer, who as New York attorney general was way ahead of the curve in challenging Wall Street arrogance. Writing in Slate on Monday, Spitzer points out: “Pressuring Goldman and the other counterparties to offer concessions would have forced them to absorb the consequences of making suspect deals with an insurance company that was essentially a Ponzi scheme.”

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The Ponzi scheme was based on the collateralized debt obligations (CDOs) in which the bankers traded and which AIG had insured with the credit default swaps (CDSs) that they sold but failed to back with adequate funding. Now Geithner’s Treasury concedes that AIG “should never have been allowed to escape tough, consolidated supervision.” But none of AIG’s scams were regulated, nor were any of the others at the center of the larger financial debacle, because of laws pushed through Congress by Geithner’s boss, Lawrence Summers, when they both were in the Clinton administration. Specifically, they prevented regulation of those opaque CDOs and CDSs that would come to derail the world’s economy.

As the inspector general’s report stated: “In 2000, the [Clinton administration-backed] Commodity Futures Modernization Act (CFMA) … barred the regulation of credit default swaps and other derivatives.” Why did the financial geniuses of the Clinton administration seek to prevent that obviously needed regulation? Because the Clintonistas believed the Wall Street guys knew what they were doing and that what was good for them was good for us lesser folk. As Summers, who is the top economic adviser in the Obama White House, put it in congressional testimony back then: “The parties to these kinds of contracts are largely sophisticated financial institutions that would appear to be eminently capable of protecting themselves from fraud and counterparty insolvencies.”

Sounds nonsensical today: The inspector general’s report notes that AIG, because of the deregulatory law that Summers and Geithner pushed through, was “able to sell swaps on $72 billion worth of CDOs to counterparties without holding reserves that a regulated insurance company would be required to maintain.” But why, then, is Summers once again running the show with Geithner when both have made careers of exhibiting total contempt for the public interest? Because there is no accountability for the high rollers of finance, no matter who happens to be president. 

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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By TAO Walker, November 30, 2009 at 1:04 pm Link to this comment

elisalouisa and any other interested Persons here couldn’t do much better than to start with Leslie Marmon Silko’s CEREMONY.  From there it’s likely your trail will lead you to whatever will best respond to whatever your need is on any given Day.  The thing is to keep ‘walking’....the one guaranteed Way to get ‘back-on-your-feet.’

There’s no lack of Native Guidance available for those who can tune-out the din of the distraction-machine, and follow the promptings of their genuine Human Nature.  Chances are good, too, of running-into some of us surviving free wild natural People here-and-there, from-time-to-time. 

HokaHey!

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By garth, November 30, 2009 at 12:43 pm Link to this comment

By the way, what is God’s work?

The Catholics have left it up to the Pope and the preist,

The Jews say, “Any day now.”

The Buddhist say the the question is meaningless.

But what do you say?  And don’t give a quote from the Bible, an edited compilation of thought of what people used to think.  The question is really:  What do you think?

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By garth, November 30, 2009 at 12:32 pm Link to this comment

(Meta) Tarsus,

It’s the one thing you bastards lack—authenticity.

You don’t know what it is.  You don’t know where to go to buy it, and you don’t know how to fake it.

Oh, what tangled webs we weave, when first we try to deceive.

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By tarsus, November 30, 2009 at 12:06 pm Link to this comment
(Unregistered commenter)

thanks admin
Are you really cool

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By garth, November 29, 2009 at 3:45 pm Link to this comment

Yes, thanks Clash for the great post.  I have become more aware lately of the way they use language to mislead.  The double talk is insidious.  If you get Thom Hartmann on the radio, listen to his first hour.  That’s when he usually has a right-wing advocate on for debate.  At first I thought I just didn’t know enough to follow their arguments, then I realized they are talking double-talk, ragtime.
They claim over and over again that wealth creates jobs, so all they need is another tax cut.  They favor state and municipal sales taxes which are most regressive.  It’s the Supply side economics argument of the Reagan years reheated.
It’s as if, “In the beginning God created wealth.  Then to take advantage of that wealth, He created the wealthee.  To multiply their wealth, he created work that needed jobs, and to fill those jobs he created creepy crawly things called the working man.  And the wealthee held dominion over the working man.”
Your right, they take what they want.  Iraq and Afghanistan are examples.  They took the oil and the water from Iraq.  I think the water from the Euphrates will be piped to Saudi Arabia.  George W.‘s friends, the Royal Family, need water badly.  Some say they need it to maintain their throne.
Reagan mocked the Government by saying the, “The nine most dangerous words in the English language are: ‘I’m from the Government and I’m here to help.’”  That became infused into the public debate.  It became accepted without question.  Now they are it hauling back out for re-use.
Wal-Mart now has an ad that says, “Wal-Mart is here to help.”  I’m sure Wal-Mart has the country’s best interest in mind when they import Chinese shit and screw around with their employees’ hours and their elegibility for health insurance coverage.

Thanks again.

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By elisalouisa, November 29, 2009 at 11:32 am Link to this comment

Thanks Clash for your post of November 29 12:03 am. The third paragraph is
especially disturbing. The news media owned by the ruling elite see to it that the
veil of illusion is kept intact. For many it is hard to perceive such facts; they
continue to believe that our vote decides what action is taken and that the little
man is really in control. As you said, the engineers know exactly where they are
going and they do not plan to be on the train when it goes over the cliff.

Thanks also TAO Walker for your informative November 28 6:29 pm post. I am embarrassed to say that other than some programs on PBS my only knowledge as to our native people is limited to what the entertainment media has wanted me to know. Could you suggest any reading material or website(s) that would more accurate as to truth?

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By Clash, November 28, 2009 at 8:03 pm Link to this comment

Many descriptive adjectives might be used but agenda is most likely the one to use at this juncture in the history for ultimate control by the ruling elite. If one notices anything, it is the fact that when speaking to the populace they say one thing and exactly the opposite happens. The names, situations and details are only diversions to keep those they control divided and confused while they begin to cull the population.

The war for resources has begun in earnest; only this war is not between countries, it is being waged by the elite against the people of the world. They have taken back what they have always believed was theirs, and very shortly they will begin to protect what is theirs with the mercenary army’s they have built with the resources they have already stolen.

To believe that any ruling class has ever held the interests of the people they have ruled in any regard other than that of abuser to the abused is slightly naive. This ruling class is only more powerful than they have been previously, as they have the ability to distort everything we perceive at their disposal. The illusion that the train is running out of control is just that an illusion, the engineer’s know exactly were their going, and they do not plan to be on the train when it goes over the cliff.

As to doing their god’s work they are on schedule and under budget.

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By dll0211, November 28, 2009 at 6:14 pm Link to this comment

They are THIEVES; and they do not care if we live or die. Wake up!

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By dll0211, November 28, 2009 at 4:52 pm Link to this comment

Stop insulting the cockroaches by comparing them to this slimey group!

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By Amon Drool, November 28, 2009 at 4:48 pm Link to this comment

garth…i’ll agree with u to some extent.  sometimes accusations of racism and anti-semitism (a very imprecise term, but i’ll use it) are thrown out too loosely on this site.  but sometimes racism and anti-semitism do crop up here and i’m fine with commenters calling it out.  to use a sport’s analogy, it’s like the players taking care of their own locker room.

also, u seem to be saying that this financial crisis was consciously “engineered.”  maybe these bankers and financial speculators are just holding on to a system that’s given them wealth and power.  they probably haven’t even thought about the idea that the power of money creation being held in private (thru fractional reserve banking) instead of public control is inherently and fatally flawed.  and the idea of public control doesn’t even look very palatable with the state of our present democracy.  the american experiment has gone astray and we may be coming down to survival times…oh, i’m ranting…i better stop

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By garth, November 28, 2009 at 4:46 pm Link to this comment

You’re right.  Sounds like you have a dog in the hunt, but I like my story better, so today, I’ll use the Fox tenets of journalism.  Whichever way the story spins best for one’s own purpose.

I’ve got one excuse, but I can’t use it, so that’s my story and I’m sticking to it.

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By dll0211, November 28, 2009 at 4:17 pm Link to this comment

It’s William F Buckley Jr.‘s SISTER’S kids talking about THEIR father. (Buckley had one son, Christopher.) Best to read more than the crawler….

Six children of the sister of the late conservative columnist William F. Buckley are accusing their father of stealing money from a trust fund their mother set up using some of the Buckley family fortune.
The children of Aloise Buckley Heath, a West Hartford resident who died in 1967, filed a lawsuit against 95-year-old Benjamin Heath in June in Hartford Superior Court. They accuse him of transferring more than half the money out of the trust.

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By truedigger3, November 28, 2009 at 4:05 pm Link to this comment

TAO Walker,

Thank you for taking the time and effort to answer my questions. Your answer was very informing. Regards.

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By dll0211, November 28, 2009 at 3:08 pm Link to this comment

What a great “Democracy!” Ha And people actually fear Socialism? Be afraid, NOW…very afraid!

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By TAO Walker, November 28, 2009 at 2:29 pm Link to this comment

A couple of salient points are raised below by truedigger3.  Maybe this old savage can put those not-uncommon (and quite respectable) concerns into some perspective.

Before the invasion of the Euros, the many Native Nations here on Turtle Island had maintained a territorial equilibrium that had been essentially stable for a very long time.  There was, of course, a steady process of ‘testing’ around the edges to insure that those living in any given area were up-to the responsibilities of fulfilling the organic function of Humanity within its naturally ebbing-and-flowing “boundaries.”  Gene-pools were refreshed by the “capture” and adoption of Persons from neighboring Nations.  Actually killing someone in these skirmishes was considered a failure of immense consequence, and required the ceremonial cleansing of both Persons and Peoples who made that mistake….however unintentionally.

As the genocidally acquisitive aggression of the colonists began to disrupt the dynamic equilibrium enjoyed and nurtured by Native Nations here, the delicately balanced but generally resilient Living (and letting-live) Arrangement itself unavoidably begun to disintegrate under violent pressures openly devised and intended to destroy it.  That right up to the present Day, however, the need to atone for the killing of any “enemy” is recognized and honored among us surviving Natural Peoples all over Turtle Island, is testimony to the essentially organic functional nature of “warfare” among the indigenous Peoples.

On the other hand, “peace” in our experience is simply the natural Way of Life here….Her “default” setting, so-to-speak.  So it is not hard to understand how the practice of institutionalized mass slaughter brought here by Europeans could have the devastating effects it did on us and our Way.  Not that we were unaware of such things.  We all knew about the “civilized” peoples who ritualized mass murder in the southern reaches of Turtle Island and in certain sections of Her Sister, Hummingbird Island, “down” (To us it’s always been UP South.) in those parts.

The Tiyoshpaye Way is NOT some idealized abstraction holding-out a false promise of material plenty and perpetual inter(and intra-)-Nation-al comity.  It is simply a way of referring to that particular Human social arrangement wholly in-keeping with our given organic function within the Living arrangement of our Mother earth….the natural organic FORM of our species.

Those of us who’ve been keeping to it here continue to find, as did our ancestors, that in all ways that seem to really matter to Two-leggeds, this natural arrangement has it all-over those made-up ideological/institutional/electro-mechanical systems the “civilized” peoples only half-live-(and are dying)-in, instead.  So much of their Native Vitality is wasted in futile efforts to maintain something at mortal odds not only with the Natural
World, but actively working to destroy it….and of course theirownselfs into the fools’ “bargain.”

There are among us, naturally, Persons especially skilled or knowledgeable in various things, but everybody is good at ‘the basics.’  Besides, even the “specialists” know their talents are worthless except in the context of The Tiyoshpaye and its place in the great Song ‘n’ Dance of Life Herownself.  We avoid instituted ‘hierarchies,’ though, like the plague they always are.  Here, being free is not some ‘gift’ of government or “god.”  It is absolutely essential to the effective fulfillment of our given organic function….which is as a component in Earth’s natural immune system.

Hope that shines some helpful light on our Way.

Hokahey!

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By Bbethany7, November 28, 2009 at 2:19 pm Link to this comment

Geithner. like Bernanke, Summers, Axelrod, et al.
has learned the drill: Dress British, think Yiddish.

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By garth, November 28, 2009 at 2:00 pm Link to this comment

“It must have been getting difficult telling the lobbyists from the rats and cockroaches.”

Yes, I think so.  Besides that, with Obama’s job approval rating dipping below 50 per-cent to a new low of 48 per-cent, the rats (e.g., Geithner and Summers) have not yet left what could become a sinking ship.  And what would we left with in the next election?  The Republicans are sounding more squirrely with each passing day.

I just wish Obama would dance to a different tune.  Would he be a strong enough President to withstand the social pressures brought about by a complete collapse of the economy?  Last news cited that 47.4 million U.S. citizens do not get enough to eat.  We’ve become the home of free and the brave and the hungry.

I suspect that trolls are reading the comnments that follow these blogs.  I would guess that they are funded by organization like the Ford Foundation, which has done a lot of work on anti-insurgency.  Here, they always find anti-semitism and racism, and using steretypical name-calling, they deflect attention away from the issue brought about by the blog. 

Note:  From the military, 6 feet, 235 pounds is a blivet.

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By Leefeller, November 28, 2009 at 12:29 pm Link to this comment

Calling Obmama Bojangles is not very nice, since obama is kicking out all the lobbyist’sfrom White house potions, except the missionary one!  (bend over and spread them may still be okay too)! It must have been getting difficult telling the lobbyists from the rats and cockroaches.

Contingent for two years Lobbiests cannont be on the white-house staff, or until money runs out of their Swiss Bank accounts.

Maybe they can hire Sarah Palin to trap and gut them? Two years seems not long enough for rats and cockroaches are persistent critters, sort of like Republicans.

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By ardee, November 28, 2009 at 11:38 am Link to this comment

prole, November 25 at 3:51 pm

A bigot with an intellect is somehow far worse that a typical redneck semi-literate spouting what was memorized at Daddy’s knee.

That a preponderance of Jews find their way into media, and finance, or entertainment has far more to do with the historical fact of their being forbidden to own land or property for centuries.

Every single one of those names mentioned answers to someone of Protestant background and belief, whether on the board of their company or by reason of majority ownership in stock…Yet civilized folks do not rant against Protestantism….

Certainly Jews commit crimes, unlike prole’s vicious assessment, one sees them as human.

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By garth, November 28, 2009 at 11:00 am Link to this comment

I saw a crawler on one of the news stations today that said William F. Buckey Jr.s children have accused him of stealing from their trust fund.  Bill, that paragon of right-wing conservative virtue got out just in time.
Reminds me.  When “Neutron” Jack Welch was negotiating a labor contract at the GE that asked for some improvements for pensioners, he said something to the effect that he was not in the business of assuring GE workers’ retirements.  Then when he retired, he tried to walk off with an extra ten million dollars that he wasn’t entitled to. 
He had to pay it pack, but it reveals an interesting point with that of the Buckley story.  Namely, these people can’t “not” do what they do.  They are compelled or impelled.
When Medicare, Social Security, unemployment benefits or workman’s compensation comes up, why that’s out-and-out stealing.  George Will said as much last Sunday, “The reason for this continuing high level of unemployment is unemployment benefits, plain and simple.”
Christopher Buckley wrote a book a couple of years ago that said the Social Security recipients should ease the load on the fund by committing suicide.  I think Mr. C. Buckley might want to look at that advice again with himself in mind.

Don’t be misled. This collapse was financially engineered. 
This is the checkmate.  They tightened the interbank lending credit with the fall of Lehmann Bros. And this was done under the guidance of Sec. of Treasury Paulsen who replaced the feeble John Snow.  Paulsen was brought into the administration specifically for this purpose: to force the crash and try to pass a three page gimmie-gimme-gimme bill through Congress.

With Obama’s weak-kneed support of any meaningful health insurance reform, the insurance ceos are high fiving each other.  This was reported in Business Week in August.
With Bojangles in the White House dancing for the these inveterate thieves, one has to ask does he bend at the knee when the banksters beckon for him to come and account for himself?

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By drbhelthi, November 28, 2009 at 2:29 am Link to this comment

For example, take the behavior of GM leadership regarding OPEL of Germany.  A continuation of tactic that was demonstrated many years ago.  Back then, GM bought up trolley-car systems around the US, destroyed the tracks and cars, replaced them with GM buses that ran on gasoline and rode on rubber tires.  Thus, the US has no workable, public transportation system, and everyone must own a car that burns an oil product and rides on oil-derivative tires. The Oil Empirists still want more.  GREEDISNEVERSATIATED, regardless of how many antagonists greedy “rulers” buy off, intimidate or assassinate.

Maintaining the Opel sub-organization on close-hold, enables the leadership of GM to include the OPEL suborganization when requesting a bail-out from their relatives in the Federal Reserve and the US banking FARCE, 2010.  The additional billions can be distributed among their israeli-heritage brotherhood, for deposit in foreign accounts, also permitting donations for missuse by Jacob´s heritage to support continued genocide of Esau´s heritage and property.

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By samosamo, November 28, 2009 at 12:42 am Link to this comment

““Jail, anyone? Perhaps that’s too harsh, and at any rate premature, but is anyone
ever going to be held accountable for the behind-the-scenes sweetheart deals
that passed tens of billions of taxpayer dollars through the AIG shell game to the
very banks that caused the financial meltdown?”“*******************************

No, no one will go to jail or be held accountable for the financial meltdown and
with the corporate take over of our government through bribery by lobbyists(finally admitted and printed for any and all to read)
their sorry asses are safe for now, though is will cost them a fee for the private
contractors to protect them and their answer, nuke the citizens, after all we are
talking about a problem that requires nothing less than radical treatment.

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By Potent_Placebo, November 27, 2009 at 10:55 pm Link to this comment
(Unregistered commenter)

As America summarily drifts down the scurrilous, slimy river of no return we can relish in the delight that we did so in a manner upholding to the most strident standards of complacent, delusionary, unprincipled, democratic hogwash.

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By Rgyle, November 27, 2009 at 7:03 pm Link to this comment

TAO Walker: Thank you. Yes, fake individuals, genuine humanity. Real silent.

I don’t know what this means, but it feels good… HokaHey!

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By truedigger3, November 27, 2009 at 6:27 pm Link to this comment

TAO Walker,

Doesn’t communal living has also hierarichical structure and division of labor and obligations and taking and accepting commands which rquires some form of “domestication”??!!

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By truedigger3, November 27, 2009 at 4:46 pm Link to this comment

TAO Walker,
Before the arrival of the “white man”,  did the ‘Tiyoshpaye’ way led to peacefule co-existence between the Lakotah and their neighbors, or there was constant wars and hostilities.?
What I am trying to say, is the ‘Tiyoshpaye’ way will lead to world peace, or it is just a saner way of communal living?

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By TAO Walker, November 27, 2009 at 2:10 pm Link to this comment

Rgyle asks for a few sentences on The Tiyoshpaye Way.  ‘Tiyoshpaye’ is a Lakotah word for the actual organic FORM of Humanity, within the Living Arrangement of our Mother Earth.  English-speakers’ nearest approximation would be “community,” except that term is these days applied almost exclusively (but ubiquitously) to various random collections of “individuals” that do not (cannot) function organically as actual Living Human Communities.  Those counterfeits, instead, tend to actively block the coalescence of captive Humans into their Natural Organic Form.

No philosophical/ideological/institutional CONstruct can ever bring-about the recovery of the Human organic integrity necessary to the health and well-being of our Kind, and the mutually beneficial fulfillment of our given place in the Life of the Earth.  The command-and-CONtol regimes set-up to enforce compliance with such abstractions, like the make-believe notions themselves, can only be destructive of Natural Forms.  The ‘proof’ is in the “global” effects of their operations here in these latter days.  They DO what they ARE….and nothing else.

So The Tiyoshpaye Way is just an indigenous description of what is on the lips of most of our tame Sisters and Brothers precisely because it is, at-present, nowhere in their increasingly miserable half-lives….Genuine Living Community.  Think about what’s been artificially substituted for that.  Think “nuclear family.”  Think radioactive “individual.”  Think a sub-species, homo domesticus, destroying its habitat and systematically poisoning itself to-death to satisfy the fatal addictions of retro-viral tormentors having nothing but CONtempt for their doomed two-legged dupes.

Escaping the trap of their “individual” selfs, and getting together where they actually live-and-breathe to help each other and All Our Relations to respond to the CONsequences of “civilization” here, puts people on The Tiyoshpaye Way.  Everything else is nothing but a DEAD END….and much sooner than “later.”

HokaHey!

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By truedigger3, November 27, 2009 at 1:13 pm Link to this comment

Re: By don knutsen, November 27 at 2:58 pm #

Don,

Excellent post that I agree with it 100%.

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By garth, November 27, 2009 at 11:19 am Link to this comment

Thank you Don Knutsen.  Well said and, I hope, jarring enough to get some of these people off their high horses.

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By garth, November 27, 2009 at 11:11 am Link to this comment

... and who, disguised as __________ (insert handle here) fights a never ending battle for truth, justice and the American way.  (Read self-righteous indignation).
I pity the poor slacker.  As long as one’s posts fall into the range from A to B, they’re entirely acceptable. 
I can attest to the reaction of the reviewers of the posts entered at this website.  Unfortunatley, the don’t criticize self-serving pablum.
Hypocrite is a word that used to carry a lot weight.  With the explosion of diatribes, name-calling and insinuation, it bears little power for the need for self searching amybe even a little shame.

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By don knutsen, November 27, 2009 at 10:58 am Link to this comment
(Unregistered commenter)

Despite all the criticism and blame heaped on Nader during every election cycle…how many take the time to listen to what he’s been saying all along. And, hes been saying it longer then anyone else. That the corporate power structure in this country has replaced representitve goverment. The fact that he’s been right on message is specifically why he’s treated like the pariah he is by out political machinery. We are all seeing that he has been right all along, but still, so many refuse to pull their head outa the dirt and listen. He is a threat to the status quo and that is why he will never be allowed to make the changes we so badly need. We behave like a country of lemmings, incapable of seeing the cliff coming up madly running aloong with everyone else to the brink and over. Standing amongst our fellow democrats or republicans and shaking our fists at eachother as if thats going to make a difference. In doing so we are doing exactly what the status quo demands of us. To play along with the fallacy that there are two distinct political parties that do battle on our behalf in Congress. Yet the only ones who prosper, year after year, are the wealthy few and corporations that continue to be monopolized so they can ratchet up their profits while the people have fewer alternative choices…free enterprize ? I don’t think so. The idiots in Congress rally around the wonderfull capitalist system which by definaition can’t funcion in a monopoly. Its all a smokescreen to keep us from realizing that our poitical system not functioning and hasn’t for a long time, a solution is not going to come from the democrats or the republicans because there is very little difference between the two and their primary job is to continue the charade. They’re all fat cats or soon to be fat cats and they know all to well who filling their bank accounts as their decisions drain all of ours. There are well over 200 millionaires in the congress.

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By Amon Drool, November 27, 2009 at 10:19 am Link to this comment

ardee: “What troubles me more than the bigotry, which is seemingly found everywhere, though hopefully in decreasing numbers, is the lack of immediate and generalised outrage and rejection thereof.”

there is such a thing as outrage fatigue.  and there is such a thing as choosing not to feed the trolls.  and believe me, i do find some of this anti-jewish bigotry disturbing; especially when it comes from an otherwise intelligent commenter like prole.

as for rejection.  ultimately, it’s in the hands of the powers that be at TD to make that call.  and one of the reasons i keep posting at TD is that they usually make those calls correctly.

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By Leefeller, November 27, 2009 at 9:56 am Link to this comment

Yes, always blame the Zionist first,  one must find a cause for the hang nail. Sarcasm is reality or is it the other way around?

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By garth, November 27, 2009 at 9:23 am Link to this comment

It’s the Jewish Conspiracy.  Ever since they claimed Shakespeare as one of their own, I said, That’s it.

And the feckless blacks hootin’ and a hollerin’ like a bunch of wild Indians.

And the Hispanics, coming here just because we rooned their economies and took our jobs away.

I haven’t met many Arabs, so I can’t categorize them yet.  But given our nature to drive them out of their homes and integrate them here, it won’t be long.

And you criers.  If you can’t find a job, try eBay as Cheney suggested.  Or better yet, open a health insurance company, or health coverage lottery.  It’s a free market. 
You don’t need information. Tax breaks for the rich don’t bother you.  Wall Street investment schemes invented by the wily just encourage your beliefs.
You just need more space on the web to write you opinions.  Start a blog. It’s easy to write a diatribe.  But as McChesney pointed out, the average numer of visits to these blogs is one, count ‘em, one.

Self reponsibility is the catch-word.  Pick yourself up by the bootstraps.  As Duncan Hunter ex rep from southern california said about help to the servicemen, “They don’t need it.  They’re tough”
And we’re tough.  Forty years ago, an old friend rented from a California walnut grower, a dyed in the wool liberal, and he told me the guy was the nastiest, most imposing landlord he’d ever met.

Now, don’t get me started about the Bulgarians.


To one poster, “A little knowledge is a dangerous thing.  Drink deep or drink not from that Pyrrean spring.”


Yma Namdoog has it backwards, you don’t go to where the silence is, you go to where that anti-human noise is coming from, deep inside, in the conscience and the spirit that, at one time, was to become uniquely American.

The NEW WORLD ORDER has begun and wouldn’t Prescot Bush be happy.

When your Supreme Court reaffirms its ruling on corporate personhood, it’s Katie bar the door.

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By truedigger3, November 27, 2009 at 8:07 am Link to this comment

Those who don’t know and understand REAL history are bound to repeat the same mistakes.
Those who propped up and financed Hitler, with his blatant murderous racism, to set him loose against the Soviet Union, and then take care of him later, had miscalculated and he turned against them first and it was a very close call.
Now the same thinking with the same group of people are unleashing a wave of racism and bigotry mostly against Muslims, liberals, brown people and not “true” Christians to help in their plans of domination and control, thinking they had started a controlled burning and oblivious to the fact that these controlled burnings many times before, had turned to raging fire that severly burned who started it.!!!

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By glider, November 27, 2009 at 7:50 am Link to this comment

Ardee,
There seems to be an appropriate increase in outrage about the financial crisis even though it would have been better served much earlier on.  As one would expect this has led to an increase in ignorant populist hillbilly level anti-semetic scapegoating, and not an attenuation of that phenomena.  Hopefully overall public awareness will result in history not repeating itself as this progresses. But as I said I find it troubling and I don’t like be associated with such scum even if our view intersect at some points.

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By garth, November 27, 2009 at 7:23 am Link to this comment

Every time I bring up this page, part of Geithner’s face is peering out at me reminiscent of Kilroy as in Kilroy was here.

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By garth, November 27, 2009 at 7:08 am Link to this comment

Our Fourth Estate is in foreclosure.  The recently extended first homebuyer’s bill also gave the home builders a 33 billion dollar bonus.  They can write off their losses in 2008 and 2009 against their profits in 2004 and 2005.  The press didn’t even mention it.
I wonder what else could’ve been done with that money. A jobs bill, perhaps?  But why wastte it on the unwashed.
Come to think of it Hitler was a community organizer, wasn’t he?  He was propped up and propelled into power by international banking money.

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By ardee, November 27, 2009 at 7:03 am Link to this comment

glider, November 27 at 8:17 am #

I must say that I find the Anti-Semitism voiced by some on this site to be troubling.

More than troubling I think. One should include the bigotry in general found here in seemingly increasing frequency.

What troubles me more than the bigotry, which is seemingly always found everywhere, though hopefully in ever decreasing numbers, is the lack of immediate and generalized outrage and rejection thereof.

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By drbhelthi, November 27, 2009 at 5:50 am Link to this comment

Once upon a time, there were considered to be six “races” and there may still be six races, basically, according to definition. However, the mixing of alleged “races” over the last few hundred years, has clouded classification.

When one investigates the meaning of the word, semite, semitism, jew and anti-jew, one finds that the general usage of the words is invalid. Thus, the words are nonsequiturs. They are either figments of ignorance or else intentionally propagandistic.

Classifying folk into the category of “jew” or “shemites” requires very technical specificity. Who applies such specificity? And, to whom is it valuable?

One author has written, “Have you ever noticed that most of the people that write or profess racial purity think of themselves as racially pure? Kind of biased isn’t it—like the fox guarding the hen house? If you believe the race stuff, you are in company with Adolph Hitler and all other Fascists.”

The phrase, “- in company with Adolph Hitler and all other facists” has increasing meaning in our day and time.

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By Marc Schlee, November 27, 2009 at 5:18 am Link to this comment
(Unregistered commenter)

Is anyone going to hold the Bush administration accountable for deliberately collapsing the US economy?


FREE AMERICA

TRY ‘EM & FRY ‘EM

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By liecatcher, November 27, 2009 at 4:27 am Link to this comment

And once the usurists were back in the temple,using
debt,deception,duplicity,secrecy & wars, their cabal
evolved
into the FED which has an opaque & impregnable
veil.
Belief in mammon & genocide to achive their goals, &
having political or economic power are the primary
requirements for membership selected by committee.
Assassination is the price of betrayal.

It makes no difference if you view Bush 3 as a puppet
or one of “them”, he has buried us in a tomb of debt.

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By glider, November 27, 2009 at 4:17 am Link to this comment

I must say that I find the Anti-Semitism voiced by some on this site to be troubling.  If you want to get a reasonably good grip on the historical and current financial situation I think “Web of Debt” by Ellen Hodgson is a good start.  It is too wordy and caters a bit too much on some conspiracy theories but as a result is a great source of information.  Also she is careful not to fall into the sinister trap of demonizing Jews for the manipulations of the financial elite.  While it may be true that Jews as a percentage are over represented in this group, it is also true that they as a people have suffered more consequences as the result of what these few elite have done.  It is completely illegimate to demonize all Jews over the immoral behaviour of a few within the Bankster group.  As has been stated here, follow the money to those responsible, and don’t fall into the evil of racism.

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By drbhelthi, November 27, 2009 at 2:50 am Link to this comment

Naming the specific constituents and prime leaders of the financial crisis, is somewhat helpful to many folk. Also providing meticulous methods for “outliving” the real, upcoming holocaust, which a group of Russian psychics has done for years, is useful to some folk, temporarily. A more lasting end result is to comprehend that A. Hitler seduced the German folk into carrying out his subconscious hate for his sire´s israeli heritage, with “a little furtive help from the queen´s men.” Also helpful is to comprehend that the German and English languages were considered for the mother language of the US, won out by English. German supporters remained, and NAZI sympathizers among their ranks assisted the NAZI immigration at the end of WWII. Among others was the family Bush, as recorded in congressional record and numerous, well-documented books. Much of which is >currently< available on Google, in various languages.

The thread of human greed is traceable to the conceit, deceit, dishonesty and propaganda that continues as before, by those who insist that the Almighty is wrong, and that they continue to be “God´s chosen.” The recordings of israeli prophets and “journalists” cannot be denied, that the veil of the temple was “rent in twain” destroying the former covenant. Impossible to overlook is the fact that years are noted as BC or AD,historically well documented.

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By Roxan, November 27, 2009 at 12:07 am Link to this comment
(Unregistered commenter)

I’ve asked that question many times.  i’ve asked some politicians that and told people I know about this.

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By msgmi, November 26, 2009 at 6:04 pm Link to this comment
(Unregistered commenter)

The Fed, Wall Street, C Street and the Beltway combine greed and zealous illusions as Main Street is being guided into a black hole.

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By liecatcher, November 26, 2009 at 1:42 pm Link to this comment

Robert Scheer’s Columns
Still Doing God’s Work on Wall Street
Posted on Nov 25, 2009

If only the title said “Doing Satan’s Work”

Satan noun:  (Judeo-Christian and Islamic
religions) chief spirit of evil
and adversary of God; tempter of mankind; master of
Hell

then we could all focus on who is really in charge &
understand why the
motto of the Bush Crime Family’s Cabal, SKULL &
BONES, is:
SKULLS ABOVE ALL OTHERS.

The master of Hell is a jealous beast whose number
one commandment
is:Thou shalt worship only me.
I used to believe that the good news was that there
is enough room in
hell for all the miscreants responsible for the
destruction of America &
the bad news was that they wouldn’t get their soon
enough. Now it’s
apparent that for these satanists hell is home & don’t
fear it. Whether
they view it as an upside rapture or not, one would
have to ask “W”.

From the time Bush 3 surrounded himself with
Government Sachs,
I’ve been saying obamageddon is upon us, & today the
excrement
hit the fan with the announcement that Cheneyburton’s
new home,
Dubai, is drowning in debt. For the details see:

http://www.cnbc.com/id/34160701

“Dubai Struggles to Ease Debt Fears; Investors
Rattled”
Published: Thursday, 26 Nov 2009 | 11:06 AM ET
By: Reuters

Foreign markets have collapsed & now we know the real
purpose of
Bush 3’s visit to China, the biggest holder of U.S. debt. Tomorrow could be another “BLACK FRIDAY” for all the sheeple lured back to Wall Street by the Goldmanites seeing green shoots sprouting everywhere. However, we can be sure, that just as they sold short just prior to 9/11,that they are short again & will show record profits once more.
For those of us familiar with Ellen Brown’s outstanding book “Web of Debt”, showing the FED SPIDER ensnaring the world,just imagine one of those legs,poison fangs & feelers encircling the largest building in the world. Dubai’s pride & joy may crumble in a pile of debt.

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By amunaor, November 26, 2009 at 11:24 am Link to this comment

The fact of the matter is, since its inception in 1913, the FED has NEVER been audited. It will do everything in its power to foil any public scrutiny of its books! Why?

If Dorothy were given a peak behind the curtain, the casino owners and their gambling houses on wall-street; their game would be over. Yet Congress allows the FED to ‘secretly’ control the value of printed paper, calling it the Nation’s currency. Why is this? Do you expect Congress & Senate, the, so called, peoples representatives to bite the hand that feeds it?

Too BIG to fail, my ass! The excrement is decades deep and only getting deeper.

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By garth, November 26, 2009 at 11:08 am Link to this comment

“Why did the financial geniuses of the Clinton administration seek to prevent that obviously needed regulation? Because the Clintonistas believed the Wall Street guys knew what they were doing ....”

That’s it.  These people knew exactly what they were doing.  W.G. Tarpley predicted it in 1998 in his book, “Surviving the Cataclysm.”
The crash in Southeast Asia in the 90s was the template.  Interbank lending via the LIBOR etc was the key.  All they needed was for few big investment houses to go under and Bear Sterns and Lehmann Bros filled the bill.  The interbank lending froze up, solid.  Who would want to lend money to a bank that might go under the next day before you can open and get the loan payed back?
Paulsen’s hand is all over Lehmann Bros’s going belly-up and that’s the straw that broke the camel’s back.

They knew all this in the 90s, and they pursued it with deliberate forethought.  They knew, they planned and now they are getting exactly what they want.
Gresham’s Law that bad money replaces good money, but not vice versa is obvious today in the markets and the trading policies.  The trillions of dollars unleashed by the Fed to prop up the stock market and lure suckers in for another round of rip-offs might not work this time.  But that’s wishful thinking.  I read in a piece in today’s Boston Globe by Neil Gabler that Americans live for the “Right Now” and are diconnected with their past and have lost their collective memory.
For the Military, Wall Street, Health Insurance, PHRMA, Big Oil, Security Contractors and the elected pigs at the trough in Washington, this is like a dream come true.  It’s all working out in their favor.

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By Virginia777, November 26, 2009 at 9:27 am Link to this comment

No, jail is NOT too harsh for these criminals and thieves,

let allow the law to apply to them also!!

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By Samson, November 26, 2009 at 9:23 am Link to this comment

DR Zing has an important point on how any other voices are drowned out.

You see another version of that in comment threads.  Where any useful discussion about what citizens should do about these awful problems is usually ‘drowned’ out by a few apparent idiots who argue nonsense back and forth with each other.  Flooding a thread with many posts so that any useful discussion is pushed off the bottom is one such technique.

Maybe they are just idiots.  But organizations also try to deliberately manipulate opinion in such forums. PR firms are known to offer this service.

You wouldn’t suppose that the wall street firms that have stolen trillions of dollars have diverted a few thousand to pay one or more people to come out here an dominate a thread with their nonsense, would ya?

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By Samson, November 26, 2009 at 9:15 am Link to this comment

To think that this all started with Bush and the Repubicans is wrong.  Its much worse than that.

We saw much the same during the Clinton years.  We saw the Clinton’s run on ‘its the economy stupid’ in 1992, and also on slogans like ‘putting people first’.  When they got to Washington, they put the same wall street people in charge. Only then it was Richard Rubin doing his turn in government to aid his fellows on wall street.

Nothing in this changed when Bush Jr replaced Clinton, just like nothing had really changed when Clinton replaced Bush Sr.

And of course, nothing really changed when the citizens elected a Democratic Congress in 2006.  And of course,  nothing has really changed when the citizens came back in 2008 and elected Obama and a bigger Dem congressional majority.

The wall street banks give millions upon millions of dollars to all of these politicians. And every dang one of them does Wall Street’s bidding once in power.  Democrat or Republican doesn’t matter.

If you go back and google the news stories from early 2007 about the presidential campaign and primaries, particularly the news stories that report on the quarterly finance reports that the campaigns had to file, you’ll see that Obama got lots of early wall street money.

This is key, because the Dem race was always going to settle into Hillary versus one opponent.  What wall street did was to make sure they spent millions making Obama that one opponent. From that point on, wall street had the election won.  The Dem contest was between a past loyal servant of wall street (Hillary) and an opponent largely funded by Wall street.  And the Republicans always take care of wall street.  Thus, as long as voters stuck to the script and picked one of the candidates that’s given to them as ‘serious’ candidates, then wall street was sure to win.

Anyone who could read the news in 2007 and see the millions upon millions flowing into Obama’s campaign is not at all surprised that he’s now protecting the very people who gave him those millions and thus made him President.

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By coco, November 26, 2009 at 8:43 am Link to this comment

Republican spin, thats all you can get from the propaganda party. A disagrement and the spin on anything thats said. 07-04-1776 to 01-20-01 RIP

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By coco, November 26, 2009 at 8:24 am Link to this comment

Liecatcher, You seem to get the point very well. I’m not trying to be an English teacher and never had one I liked. I was referring to Bush not Obama. Would you like to post your comment on this? George Bush was the first mentally burnt and worst president this country ever had. His presidency will haunt this country for years to come. There is no instant cure for the mess he made. He and the republican party are completely responsible for the terrible condition of our country. Would you like to make your position clear and tell me I’m not stating the truth or would you like to give another grammar lesson?

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By coco, November 26, 2009 at 8:15 am Link to this comment

Liecatcher, You seem to get the point very well. I’m not trying to be an English teacher and never had one I liked. I was referring to Bush not Obama. Would you like to post your comment on this or maybe you won’t understand? George Bush was the first mentally burnt and worst president this country ever had. His presidency will haunt this country for years to come. There is no instant cure for the mess he made. He and the republican party are completely responsible for the terrible condition of our country.

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By coco, November 26, 2009 at 8:06 am Link to this comment

Liecatcher, You seem to get the point very well. I’m not trying to be an English teacher and never had one I liked. I was referring to Bush not Obama. Would you like to post your comment on this or maybe you don’t understand? I’m glad I got on your nerves, Now beat-it!!

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By coco, November 26, 2009 at 8:01 am Link to this comment

Iiecatcher, You seem to get the point very well except your an idiot republican. I’m not trying to be an English teacher and never had one I liked. I was referring to Bush not Obama. Would you like to post your comment on this or maybe you don’t understand? If I could punch you in the nose I would.

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By coco, November 26, 2009 at 7:57 am Link to this comment

Iiecatcher, You seem to get the point very well except your an idiot republican. I’m not trying to be an English teacher and never had one I liked. I was referring to Bush not Obama. Would you like to post your comment on this or maybe you don’t understand? Idiot

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By John F. Butterfield, November 26, 2009 at 4:34 am Link to this comment

Dr. Bankenstein is still “fixing” the economy.
Now, where did I leave my pitchfork?

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By D.R. Zing, November 26, 2009 at 4:27 am Link to this comment

Dear No_Man’s_Land: 

What Obama isn’t saying right now is that Rupert Murdoch, owner of Fox News and The Wallstreet Journal, has more influence on the American people than the President of the United States. 

You can bet, though, Obama knows it.

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By D.R. Zing, November 26, 2009 at 4:13 am Link to this comment

Reply to the tshirt doctor:

People are upset. 

Tens of millions are pissed off. 

But what you are witnessing—living and experiencomg—is the most subtle, counter-intuitive and extensive form of censorship in the history of civilization.

Imagine ten thousand people at a rock concert screaming their lungs out.

They are just white noise. 

The only thing you can hear clearly is the band and it is deafening, overwhelming everyone else no matter how loud they scream. 

The ten thousand people are the tens of millions of Americans who are pissed off about what’s going on and yelling about it, writing about it, talking about it, even making movies about it. 

The rock band is a handful of corporations that own all the network television news outlets. 

They are drowning us out, my friend.

Drowning us out. 

You want something done about this mess, the first thing you gots to do is break up the massive media conglomerates.

Put this on the front and back of a T-Shirt if you will:

Break the news.

Free the news.

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By liecatcher, November 26, 2009 at 1:30 am Link to this comment

To carl moore, November 26 at 4:49 am
America (U.S.A.) is a kakistocracy run by war
criminals, usurers, thieves and
sociopaths, where the ‘loyal opposition’ supports the
ruling class by voting
to abrogate freedom and liberty while impoverishing a
nation we used to call ours.

Hey carl moore:

How about this description which includes your
summary.

The U.S. is the host being consumed by parasites who
are controlled from

London by the CABAL running & ruining the world.

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By christian96, November 26, 2009 at 1:22 am Link to this comment

Don’t ever forget the effectiveness of politicians
deceptive use of the “wait long enough and they
will forget” principle!

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By liecatcher, November 26, 2009 at 1:13 am Link to this comment

To drbhelthi, November 25 at 9:43 am
Robert Scheer’s Columns
Still Doing God’s Work on Wall Street

Hey drbhelthi:

Excellent commentary !

BTW, I’ve watched both

The Mena Cover-UP: Drugs, Deception, and the Making
of a President - VHS Tape with Bill’s picture on the cover.

& Bill Clinton’s Rise to Power (VHS Tape)

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By carl moore, November 26, 2009 at 12:49 am Link to this comment

America (U.S.A.) is a kakistocracy run by war criminals, usurers, thieves and
sociopaths, where the ‘loyal opposition’ supports the ruling class by voting
to abrogate freedom and liberty while impoverishing a nation we used to call ours.

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By drbhelthi, November 26, 2009 at 12:46 am Link to this comment

The outdated concept of “God´s chosen people” requires updating into the past-tense.  Five thousand years ago, israeli prophets predicted the big change, which was widely covered by “journalists” two thousand years ago. The covenant was voided by the Almighty, as recorded by israeli prophets and others, and thus, the years are now recorded as BC or AD. 

Obviously, the conceit, deceit, dishonesty and propaganda continue as before, by those who insist that the Almighty was wrong, and that they continue to be “God´s chosen.”  Historical accuracy requires that the “past tense” be invoked.

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By liecatcher, November 26, 2009 at 12:44 am Link to this comment

TO coco, November 25 at 7:07 pm

Hey coco:

When you said:

“After just over 10 months the backlash of a 5
trillion dollar debt and an “ILLERATE” leader and his
followers are managing to put the spin on the the
cause of the mess. How could people be so idiot as to
think that the new president could come in and wave a
magic wond and correct 8 years of abuse? I can
believe that this mess will take over 4 years to
correct and a lot longer to pay for. This country is
divided by a right wing communist party and a
propaganda network especially made for stupid “NIEVE”
people.

My question for you is why would you even want an
illiterate president in office, let alone allow 4
years to correct or pay for his mistakes?

By the way, using ad hominem attacks on bloggers with
different points of view may work for Rush, but
doesn’t work for you.

illiterate:
1.  unable to read and write: an illiterate
group.
2.  having or demonstrating very little or no
education.
3.  showing lack of culture, esp. in language and
literature.
4.  displaying a marked lack of knowledge in a
particular field: He is musically illiterate.


nieve : Word Origin & History

“clenched fist” (northern and Scot. dialect), c.1300

 
Definitions of naive:

Lacking worldly experience and understanding,
especially:

Simple and guileless; artless:

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By Steve, November 25, 2009 at 7:06 pm Link to this comment
(Unregistered commenter)

Organized crime is alive and well and living in the USA!

And until we REPLACE the criminals in future elections, it will continue to our detriment.

My suggestion - forget that you’re Republican or Democrat or Independent and VOTE THE INCUMBENTS OUT next year.

The new ones may not be much better, but at least they’ll know they can be FIRED!

And those that you vote OUT will no longer be so corrupt and powerful that they can screw you at every turn in favor of their financial benefactors.

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By Jon, November 25, 2009 at 7:03 pm Link to this comment
(Unregistered commenter)

Obama appoints Geithner and Summers to run the economy.  He climbs down on FISA, and telecom immunity. The repeal of the posse cometatus remains in effect.  He climbs down on the Patriot Act.  He appoints Dana Perino to the US Broadcasting Board of Governors—responsible for oversight of the Voice of America, Radio Free Europe and Radio Liberty, plus the US’s Radio Marti and TV Marti to Cuba.  He fails to address massive US unemployment, foreclosures (300,000 a month) and personal bankruptcies (7000 a day), seeming to be indifferent to Main Street.

I’d say we have a W clone as president.

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By Rgyle, November 25, 2009 at 6:08 pm Link to this comment

TAO Walker: I like the walk you talk, and maybe walk as well. So, in a few
sentences, what is the Toyashpaye Way?

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By NABNYC, November 25, 2009 at 5:49 pm Link to this comment
(Unregistered commenter)

Most states have laws which apply to everyone except to the wealthy and powerful who buy themselves an exemption.  Just like rich Catholics used to buy themselves special dispensation from the Pope for their sins.  So, today, the corporations don’t care what the laws are because they go to the legislature and have them pass an exemption for the corporations.

For example, when individuals loan money they are subject to the usury laws which restrict interest charged to about 10%/year.  Not so for the financial corporations, credit cards, banks, real estate brokers:  they bought an exemption to those laws.  They can charge whatever they want because they bribed our politicians.

For Wall Street, they have bought our politicians for a long time now.  Clinton was simply in love with these slick Wall Street men with their smoothe tongues, with all their silly stories about how everyone will be rich, no one will have to work, as long as Wall Street is deregulated, there are no laws which apply to them, and we have “free” trade allowing corporations to use slave labor.  Clinton loved them all, and did exactly as they wanted, and is now an exceedingly rich man for his efforts.

For example, most states have simple laws making fraud illegal.  Fraud may consist of the intentional misrepresentation of fact, may consist of the negligent representation made without sufficient basis to believe it is true, and may consist of affirmative concealment.  Every person in management of the big firms on Wall Street should be put on trial for fraud, their assets seized, forced to disgorge all profits made.  Unless, that is, they have paid off the politicians so that even the fraud laws don’t apply to them.

Why doesn’t this happen?  Because they bribe our politicians.  Our politicians get kick-backs and bribes from Wall Street.  If the politicians claim this money isn’t a bribe, it at a minimum creates the appearance of impropriety, and should not be allowed.  How on earth can anyone claim to be “regulating” an industry, or passing laws to control conduct, when they are at the same time receiving hundreds of millions of dollars from those they are tasked with regulating? 

We need a special prosecutor with subpoena power to conduct hearings, indict, prosecute, seize assets or recommend that the court issue an order doing so.  No one in Congress can act without conflict with respect to Wall Street, and they should all be disqualified from passing any laws, or reviewing any of the actions of Wall Street which have been called into question.  The same is certainly true with respect to Obama (who received a ton of money from Wall Street for his election) and Geithner, whose loyalties obviously lie with his Wall Street friends and allies.

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By coco, November 25, 2009 at 5:43 pm Link to this comment

Another point truthdigger3 might take into consideration is the Viet Nam war, the military industrial complex, Texas oil, Kennedy’s position on the Viet Nam war, right wing propaganda and the assassination of Kennedy. Texas oil was the main supplier of oil for that war.
Afghanistan can be no further from this country on the map. A terrorist can attack at Fort Hood. Exxon Mobile and the Bush crime family are in the middle of this war. Possibly the only ones that are benefiting from it. 8 hundred thousand dollars a year per troop, 400 dollars a gallon for fuel, transport to and from. And dead soldiers being sent home in box’s along with mentally and physically damaged men and woman. 500 thousand Russians with no laws on war crimes for ten years couldn’t beat them. Bush applied just over 40 thousand troops for 8 years and accomplished nothing. Obama is said to be going to take the number up to somewhere around a hundred thousand. The only winner will be the military industrial complex.

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By truedigger3, November 25, 2009 at 5:42 pm Link to this comment

coco wrote addressing me:
“You are the problem truthdigger3. Although no ones perfect, if you can’t see that the republican party is the propaganda party you are definitly partisan.”
____________________________________________________

I posted here in truthdig for several years attacking partisanship and partisans and declraing that we have only one party in this country which the big money/business party and that both the Democratic and Republican parties are nothing but two different masks for the same party or if you prefer another analogy the good cop and bad cop routine.
Who is the partisan here? I cann’t believe you still defending Obama? What is he doing different than W Bush??
Obama is rolling on the same tracks that Bush was rolling on.
They say nobody is more fanatic than new converts!
Since you are a recent convert to independence and former Republican and a fan of Limbaugh, are you dying to put your faith in a new Messiah???!!.
With all due respect to your explanation for using right wing to describe left wing and communism, I find that very funny and confusing. Not everyone is sophisticated as you.

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By coco, November 25, 2009 at 4:43 pm Link to this comment

truthdigger3 During the cold war the Soviet Unions most powerful weapon was propaganda. apparently you don’t remember anything about that. The right wing has created a propaganda network with the likes of Fox news, Limbaugh, Hannity. Beck, Andrews, and several other kooks. If you haven’t noticed they are on total attack mode every time their on the radio or TV.They did the same things to Kennedy, Carter, Clinton, Gore, Hillary and Obama.I am a former republican. I voted for Reagan and Bush 1. I never voted for Clinton and I now realize that was mistake. Voting for Bush 1 and Reagan was also a mistake. After listening to the likes of Gingrich and taking into account the bad moves of Reagan and Bush 1 I changed my registration to Independent. I also was a fan of Limbaugh at one time until I caught him putting the spin on about everything that ever happened in government. You are the problem truthdigger3. Although no ones perfect, if you can’t see that the republican party is the propaganda party you are definitly partisan. This country isn’t divid because of the economic plan Clinton put into effect. Of course I’m sure you could find some republican babble to tell yopu different. Listen some time to Beck’s talk show and the callers, they make no real sence of anything. Then listen to big Eddie on MSNBC and get the truth.

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By no mans land, November 25, 2009 at 4:33 pm Link to this comment

truedigger3

One can be a capitalist, communist, socialist, etc and still be in the right wing, which is normally associated with nationalism, war hawks, “tough-on-crime” and often religious fervor. Think of it as the organized crime family of politics. It just so happens that our right wing has attached unfettered state corporatism to its brand. While I certainly couldn’t associate our right wing with communism, I can and do associate it with the Big-Brother, Gestapo, machiavellian machinations of social control of former communist regimes like East Germany. We need look no further than torture, the Patriot Act, and Warrantless Wiretapping to see the fruits of eight years communist-like right wing America.

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By berniem, November 25, 2009 at 4:26 pm Link to this comment

Is anyone REALLY surprised by this or anything else going on foreign or domestic? Those in control have always done as they wish throughout history because they can and because it’s profitable for them. The masses act as the hapless pawns in the power struggles among the vested interests by naively going along with blaming their subgroups for the world’s problems with the usual results apparent. Occasionally, the rabble rises up to violently rid itself of the oppressive albatross around it’s neck but, in short order, finds itself bound again (unintentionally?) by an unanticipated, newly hatched, bird of a different feather. You would think(hope, anyone?)that someday the goodguys(gals) would finish first, but it never seems to work out that way. Maybe its really true that ALL roads lead to each of our individual, private hells and that these are ALL paved by our collective good intentions.

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By truedigger3, November 25, 2009 at 4:11 pm Link to this comment

coco wrote:
“This country is divided by a right wing communist party”
___________________________________________________

Noone is aware of his own ignorance and lack of common sense and you are a good example of that, and the proof is in that nonsense you wrote.
Can you explain how someone be a communist and a right wing in the same time???!!!

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By no mans land, November 25, 2009 at 3:56 pm Link to this comment

coco:

Because often times what person doesn’t say is more important than what they do say. Wo what isn’t Obama saying right now that could have everyone jumping ship?

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By coco, November 25, 2009 at 3:07 pm Link to this comment

After just over 10 months the backlash of a 5 trillion dollar debt and an illiterate leader and his followers are managing to put the spin on the the cause of the mess. How could people be so idiot as to think that the new president could come in and wave a magic wond and correct 8 years of abuse? I can believe that this mess will take over 4 years to correct and a lot longer to pay for. This country is divided by a right wing communist party and a propaganda network especially made for stupid nieve people.

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By ardee, November 25, 2009 at 2:45 pm Link to this comment

Samson, November 25 at 6:11 pm #

Go read Naomi Klein’s last book “The Shock Treatment” I think it was called. 

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

The Shock Doctrine

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By Kevin Schmidt, November 25, 2009 at 2:42 pm Link to this comment
(Unregistered commenter)

The French Revolution had a solution.

They called it the guillotine.

Modern French call it their “national razor”.

Some Americans call them “freedom blades”.

Now you too can have your very own Quick Chop Barbershop for Fascists!

Get your free plans here:


http://www.stewwebb.com/guillotine_symbol_of_tyranny.htm

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By Nap, November 25, 2009 at 2:33 pm Link to this comment
(Unregistered commenter)

Well if Wall Street is the temple for global capitalism, then surly these highest paid hallowed priests must be involved in divine work.

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By Purple Girl, November 25, 2009 at 2:29 pm Link to this comment

Too harsh, Premature??
Are you a Repug?
The Wall Street Mob and their Pocket politicians (both Red & Blue) not only ruined the base of our national economy by pushing US from a production base to Service driven economy. We produce nothing and apparently we’ve been selling nothing except paper and promises for at least a decade. There is no manufacturing base, which was the foundation of our entire economy for over a century. Now it’s either a Finance job or McDonalds. Bring down 6 figures a year with a Sweet Benny and Retirment pkgs, or working for minimum wage with no bennies. A ‘Retirement’ is nothing more than a cruel one word joke.
They Gutted Our Economy and Stole everything in the Vaults. Worse they left the ‘Past Due’ notices in it’s place.
They have stolen peoples retirements.Their savings. Their Homes.Their kids college money. Their sanity!
And throwing them in jail might be a bit strong?
If the High crimes they have committed against US seems elusive then discussing the international ramifications is fruitless. Our image, Our ‘Credit’ and Creditabilty, Our Charitable donations and aid to the sick, hungry and displaced.
What this Financial Mafia has committed goes well beyond treason, it has ultimately cost lives. One I would consider a Crime Against Humanity, particularly because it was done in the name of Greed.
There is Precedence which also compounds the charges to one of ‘Forethought’, thus malice. The Safeguards that were instituted to avoid another Great Depression were demolished.
And Trickle Down has been proven a disasterous Economic stratedgy since the time of Ceasars, Pharohs and Kings. Cream rises to the Top, Shit Rolls down hill.
So lets not be Coy. There are people who not only deserve to be prosecuted, they should be prosecuted to the fullest extent of the law. These were the highest of High Crimes.

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By Rgyle, November 25, 2009 at 2:23 pm Link to this comment

Key phrase: “...sophisticated financial institutions that would appear to be
eminently capable…”. Key words: “would” and “appear.” This is magical talk in
support of tragical delusions.

Though Larry and Tim may have contempt for public interest, they surely have
little care for it.

O bama, where art thou?

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By no mans land, November 25, 2009 at 2:21 pm Link to this comment

Just bought a new torch and my pitchfork is on order (had to put it on layaway on account of the dollar not buying shit anymore).

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By Samson, November 25, 2009 at 2:11 pm Link to this comment

Go read Naomi Klein’s last book “The Shock Treatment” I think it was called.  Been out a couple of years now, so its probably available used or in libraries.

Read it and you’ll be convinced that there are powerful forces that basically go around the world and steal money.  There was wealth in the world that was in public hands because it was built by the joint enterprise of the society after WWII.  National phone companies and the like.  This wealth was deliberately targeted and stolen, and that’s what this excellent book documents.

Another big stack of wealth in the world was the private savings and homes of ordinary Americans.  What you’ve seen is nothing less than the theft of trillions of dollars of this wealth.

And seemingly, they got us coming and going.  They took the money of Americans by selling them homes in an overly inflated housing ‘bubble’, and now that is crashing, they are stealing trillions more in tax payer money in ‘bailouts’. 

Homeowners are of course left with houses that are worth less than what they paid for it, and no hope of any relief in sight.  Homeowners, and even renters in the over-inflated urban markets, lost wealth, and guess who’s pockets it ended up in?  Those million dollar bonuses are one of the more obvious signs of that money moving around.

Along the way, they diverted the minor sum of a few hundreds of millions of dollars to make sure they owned the US government.  That Obama had taken tens of millions in ‘contributions’ from ‘wall street’ was well documented before the last election. 

This money was used to create the ‘rock-star’ image that many more Americans voters fell for than the few who paid attention to who was paying the bills for the campaign. 

‘Follow the money’ is usually good advice.  While ‘follow the rock star’ can be fun advice for awhile, it usually doesn’t lead to long term success and stability.

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By california dreamer, November 25, 2009 at 2:08 pm Link to this comment

Unless I am mistaken, homeowners were not allowed the same opportunity to hedge their bets as the investment bankers with the CDS’s and CDO’s.  If I took out a loan on the equity in my home in order to do home improvements, no one offered me a chance to buy a little insurance that would pay off the loan if the price of the home went underwater.  But as a taxpayer I paid off the insurance on the loan taken out by the investment banker.  AIG didn’t make me a loan but since they were unable to back up their loans when the housing market crashed the government (Me and You) paid off the bankers who had set up the predatory loans in the first place.  It becomes clear to me that I got screwed by the predator twice.  But if you and I are the government of the people, then maybe we can change things.  If we can’t then it’s not a government of the people.

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By Samson, November 25, 2009 at 1:52 pm Link to this comment

Stop paying attention to race and ethnicity, and instead just follow the money.

The people who had lots of money before you were born are going to have even more money after you die.

Sure, the backgrounds of the people who had money before we were born is such that they tend to have lighter skin and connections with the Amsterdam, London and New York financial markets.  But if you focus on the skin color, you are missing the point.  Its the money that’s important.

A poor white man can never join their club, and is instead one of the victims.  A rich man of color can join the club.

But by and large, the people who had money before you were born hold most of the power these days. They use that power to make sure that they get richer and you don’t.  When we die, they’ll likely be richer and more powerful than they were when we were born, which means our children and our children’s children will be even more screwed than we are today.

Unless we start to change it.

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By Kevin Schmidt, November 25, 2009 at 1:47 pm Link to this comment
(Unregistered commenter)

Obama has proven himself to be Bush Light.

Since he refuses to arrest any of the Dubya/dick war criminals, he has made himself into a war criminal too. Half of his people, including the Goldman Sachs mob are holdovers from the Dubya/dick nightmare years.

There will be no arrests until we achieve real change in our government.

We voted out of power the Neocon-Fascist Republicans over the past two election cycles. Now it’s time to also vote out the Blue Dog DINO-Fascists in next year’s Democratic Primary.

In 2012, we can also vote out Fascist Obama in the Democratic Presidential Primary!

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By Samson, November 25, 2009 at 1:41 pm Link to this comment

Well, at least the Democrats are amusing.

Here’s two things every Obama voter could have easily known about Obama before the last election:

1)  His campaign was financed by wall street. Especially in key periods early in 2007 when Obama established himself as Hillary’s competitor.  Use google to go back and read the news stories about the candidates quarterly finance reports, and you’ll see Obama raising a lot of early money from wall street.

2)  The Obama campaign team was signally long before the election that there would be few if any prosecutions of criminals.  They were already starting the ‘lets look forward instead of backwards’ rhetoric.  They were also conspicuously saying little or nothing about prosecuting wall street crimes before the election.  Noticeable because that’s a theme that would have played very well with the electorate, but Obama conspicuously stayed away from it.

Wasn’t it obvious that it was going to happen this way?

So, now we get to listen to all the Democrats who told us that Obama was the answer now seem shocked, absolutely shocked that he’s turning out not to be the answer.  Instead, they seem surprised that Obama is protecting the people who just gave him tens of millions of dollars in order to make him President. What a surprise!

Of course, this is but a brief interlude before the 2010 elections, when we can be sure that the same writers that told us that Obama and the Democrats were the answer will once again soon be telling us that re-electing the Democrats in 2010 is now the new answer.

They say insanity is doing the same thing over and over and expecting a different result.  Isn’t it time for the American voters to try something new?

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By gerard, November 25, 2009 at 1:33 pm Link to this comment

The blame game, anyone?  It’s them!  No, it’s them over thee!  It’s not me!  Is it you?  Maybe it’s ,,,
pitting people against each other by increasing fear and hate?

As to the “Bilderburg group” or whoever .. I’ve addressed this once before, but here goes again:
This conspiracy of a secret group annointed to rule the world goes back to medieval legends about a “western paradise” before America was discovered.It was thought to be somewhere out beyond the horizon, and certain choice members of elite groups allied with Christianity were said, along with their descendants, to be the “chosen people” (NOTHING to do with Jews whose mythology came from a different source). These elites were said to be appointed by God to discover this land and build a heaven on earth.Some of the Puritans were so imbued, and the thread of the idea persists in American “exceptionalism”.

Among others, the Masons thought perhaps they were the chosen ones, and their secret rigaramole (what is known of it) incorporates some of that language.  Other “secret societies” have adopted similar notions of supremacy and power, and used them to justify excesses, but it’s all childish hoopla.
Bohemians.  Skull and Bones, Order of This and That.
Knights of the Round Table.  Brown’s over-popular “DaVinci Code” plays on the idea and it has a too-broad appeal with its arcane mumbo-jumbo.

Most of us feel so damned ordinary that, under certain influences, we will all but die to become special.

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By nefesh, November 25, 2009 at 1:04 pm Link to this comment

prole, November 25 at 3:51 pm

It can’t be denied that a disproportionately large number of those that are “Doing God’s Work” are God’s own allegedly Chosen People. Not only Blankfein and Summers and Rubin but many of the other unaccountable “high rollers of finance” that have been “running the show”. Like Ben Bernanke, Chairman of the Fed and his predecessor, Alan Greenspan; Donald Kohn, Vice Chairman of Fed; Rahm Emanuel and David Axelrod;  Robt. Hormats, econ. adviser to the Sec.of State; Gary Gensler, chairman of the USCFTC; Neal Wolin, Dep. Sec. of Treasury; Jason Furman, Dep. Dir.of NECouncil (Summers’ asst.);  Paul Volcker, Chairman, Economic Recovery Advisory Board; Alan Blinder and Austin Goolsbee, econ. advisers to Obama; Jared Bernstein, Chief Economist and Adviser to Biden; Barney Frank, Chairman, House Comm. on Financial Services; Henry Waxman, Chairman, House Comm. Energy and Commerce; Peter Orszag, Dir., OMB; Doug Shulman, IRS Commissioner; Jon Leibowitz, FTC Chairman; Mary Schapiro, SEC Chairman; Daniel Roth, CEO, National Futures Association; Duncan Niederauer, CEO, NYSE Euronext; Robt. Greifeld, CEO, NASDAQ, etc., etc. Geithner himself is not Jewish but his wife is and he’s closely tied to Stephen Friedman and the NY finance establishment. And in the closely interlocking international financial arena are many others such as Dominique Strauss-Kahn,Managing Dir., IMF and Robt. Zoellick, Pres. of The World Bank. And then there’s the lovely Bernie Madoff…..
  This is the same tribe (or twelve) that was always whining about the WASP bogeyman but now that Jews are so overrepresented in influential positions they don’t seem to have any such objections to that. If the same sort of fiscal responsibility displayed during the WASP ‘ancien regime’ existed today with these arrogant double-dealers, much of the current unfolding disaster perhaps could have been avoided. Unfortunately, it looks like the self-Chosen People will go on giving us all a buzzcut!

Quite the Stormfront rant. You should apply for David Duke’s speechwriter position.

So the next time you start bashing Israel (which won’t be very long given your posting excesses) you can no longer try and make that phony distinction between zionism and Jews. We all know what a hardcore bigot you really are.

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By TAO Walker, November 25, 2009 at 12:39 pm Link to this comment

It seems likely there are at least a few chess-players among those commenting regularly on this site….maybe Robert Scheer, too, but not including, however, this old un-reCONstructed Savage.  So how come nobody appears to recognize the “end game” when it’s already blood-thirstily gutting the “global” carcass….to mix metaphors?

Pretending the organized and institutionalized depradations so regularly decried here by columnists and commenters alike are mere aberrations, in the operations (and some ‘operators’) of an otherwise wonderful “system,” has the same grip on the captive imaginations of homo domesticus as do various other brands of make-believe….many commonly called “religions.”  The damned thing is doing exactly what it was designed and built to do, tame Sisters and Brothers.  Death-dealing is its very stock-in-trade.  It cannot nor will it ever do anything else.

Anybody who’s “okay” with that is welcome to go-along for the DEAD END ride.  Those who aren’t could try The Tiyoshpaye Way….for a real change.

HokaHey!

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By Chula, November 25, 2009 at 12:15 pm Link to this comment

Jail time too harsh?  Start with Geithner, then add Summers, then add all those who received $$$ and laughed all the way to their banks in the faces of American taxpayers who saved their a—-s - life sentences would not be too harsh for these crooks.

What is wrong with Obama?  Why did he put these crooks in his adminstration?

Sounds rather suspicious, doesn’t it?

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By elisalouisa, November 25, 2009 at 11:55 am Link to this comment

Ardee:Most sane folks certainly are aware that the real rulers of this nation are
almost exclusively white anglo saxon protestants in fact.
***********************
Ardee, Ardee, Ardee:So, who decides in this two party system who the candidates
are? Those who contribute big bucks. Those big bucks buy plenty of advertising
and the best run campaign that money can buy.Then come election time who pulls
the strings of those who got elected? Those who contributed big bucks. So in
essence, who are the real rulers of this nation? That is why there is no
accountability for the high rollers of finance, no matter who happens to be
president. Therefore, they really run the show.

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By prole, November 25, 2009 at 11:51 am Link to this comment

“Nonsense, argues Eliot Spitzer, who as New York attorney general was way ahead of the curve in challenging Wall Street arrogance”…but turned out to be a pretty arrogant slummer himself while briefly governor, resigning in disgrace after little more than a year in office. Prior to his dissolute departure he was already widely unpopular, with public approval ratings at less than a third of the electorate. Spitzer was born with the proverbial silver spoon in his mouth, his old man Bernard is a real estate tycoon and slumlord who provided much of the money that allowed young Eliot to vastly outspend his rivals in jumpstarting his aborted political career. Some of the multi-million dollar loans from daddy raised ethical questions of their own that were never fully answered. But Spitzer’s arrogance didn’t stop there. Shortly after taking office as governor in early 2007, Spitzer got into a little tiff with NY State Assembly Minority Leader James Tedisco , in which he famously growled at Tedisco,” “Listen, I’m a f - - -ing steamroller and I’ll roll over you and anybody else.”  Spitzer and his family are part of the same elite culture of greed and arrogance as those he presumably scolds in public. Whether it’s buying political favors or buying pricy prostitutes, they’re all very clubby.
  It can’t be denied that a disproportionately large number of those that are “Doing God’s Work” are God’s own allegedly Chosen People. Not only Blankfein and Summers and Rubin but many of the other unaccountable “high rollers of finance” that have been “running the show”. Like Ben Bernanke, Chairman of the Fed and his predecessor, Alan Greenspan; Donald Kohn, Vice Chairman of Fed; Rahm Emanuel and David Axelrod;  Robt. Hormats, econ. adviser to the Sec.of State; Gary Gensler, chairman of the USCFTC; Neal Wolin, Dep. Sec. of Treasury; Jason Furman, Dep. Dir.of NECouncil (Summers’ asst.);  Paul Volcker, Chairman, Economic Recovery Advisory Board; Alan Blinder and Austin Goolsbee, econ. advisers to Obama; Jared Bernstein, Chief Economist and Adviser to Biden; Barney Frank, Chairman, House Comm. on Financial Services; Henry Waxman, Chairman, House Comm. Energy and Commerce; Peter Orszag, Dir., OMB; Doug Shulman, IRS Commissioner; Jon Leibowitz, FTC Chairman; Mary Schapiro, SEC Chairman; Daniel Roth, CEO, National Futures Association; Duncan Niederauer, CEO, NYSE Euronext; Robt. Greifeld, CEO, NASDAQ, etc., etc. Geithner himself is not Jewish but his wife is and he’s closely tied to Stephen Friedman and the NY finance establishment. And in the closely interlocking international financial arena are many others such as Dominique Strauss-Kahn,Managing Dir., IMF and Robt. Zoellick, Pres. of The World Bank. And then there’s the lovely Bernie Madoff…..
  This is the same tribe (or twelve) that was always whining about the WASP bogeyman but now that Jews are so overrepresented in influential positions they don’t seem to have any such objections to that. If the same sort of fiscal responsibility displayed during the WASP ‘ancien regime’ existed today with these arrogant double-dealers, much of the current unfolding disaster perhaps could have been avoided. Unfortunately, it looks like the self-Chosen People will go on giving us all a buzzcut!

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By G.Anderson, November 25, 2009 at 11:44 am Link to this comment

Little Timmy Geithner, should understand, from the bible, since we seem to be focused on biblical references, that a man cannot serve two masters.

My question is, which master does little Timmy Geithner serve?

How many said Wall Street?

How many said Main street?

But, that being said, let’s keep God out of it. I prefer to let the people judge.

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By mill, November 25, 2009 at 11:34 am Link to this comment

“Jail, anyone? Perhaps that’s too harsh”

For nearly crashing the global economy?  Causing the loss of trillions of dollars of wealth?

Jail is the nicest option i can think of for the perps who played key roles in enabling the financial crisis.

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By joedee1969, November 25, 2009 at 11:19 am Link to this comment
(Unregistered commenter)

This Wall Street guys are why we are in this mess. Everyone have a great Thanksgiving and here is a cute Thanksgiving link:

http://americaspeaksink.com/2009/11/a-socialist-thanksgiving/

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By Leefeller, November 25, 2009 at 10:50 am Link to this comment

Sounds like the horse is being led back to the the grassy knoll again, seems normal.  Like old worn out times, all over again! If one knows they are being manipulated, then the who becomes the bickering point for, blame is part of the point the finger thing.

I can not stand clowns, so it is not the Nazi’s, the Zionests, the Wasps, let me point my finger at the clowns and throw in mimes too, I cannot stand mimes either!

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