LOOKING FOR WALL STREET CROOKS? CHECK INSIDE THE WHITE HOUSE!
Hey Wall Street occupiers, are you looking for banker robber barons? Go to 1600 Pennsylvania Ave. The crooks you are looking for are in the White House with President Barack Obama. Let me give you some history.
Early into his first term, in March of 2009, the Obama Administration devised a scam to pay hedge funds hundreds of billions of taxpayer dollars to buy up the financial institutions and banks toxic assets. These assets were the same subprime garbage that Fannie and Freddie were forced to issue to unqualified borrowers by Congressional, Senatorial Oversight pressure spearheaded by Barney Frank and Chris Dodd. To make matters worse, as part of the grand scam, the Financial Accounting Standards Board changed existing accounting rules to allow the banks to inflate the value of these toxic assets that were then bought with public tax dollars by the hedge funds.
MORE TAX DOLLARS DOWN THE GOVERNMENT TOILET
Financial disclosures at that time revealed that Lawrence Summers, Obama’s top economic advisor, was paid $5 million dollars as director of D.E. Shaw, a giant hedge fund, and he then proceeded to rack up an additional $2.5 million dollars in fees by giving speeches to Lehman Brothers, Goldman Sachs, JP Morgan Chase and Citigroup all Wall Street firms that received taxpayer bailout funds! Lawrence Summers has always been a leading advocate of deregulating the banking institutions and did institute deregulation as Treasury Secretary under Bill Clinton in the mid 1990’s.
During the 2008 presidential election campaign, Barack Obama received vastly more political campaign contributions from Wall Street than did any other candidate. Hedge funds and equity firms gave Obama nearly $3 million 60% more than to other candidate. On a Senate salary, the one term Senator became a multi-millionaire before the conclusion of his first term as president!
The list of Wall Street fat cats in the Obama administration only begins with Summers.
Timothy Geithner was nominated as Treasury Secretary on November 24, 2009. Before that he was President Of the Federal Reserve Bank of New York, and worked at the IMF. The financial expert Geithner, the Treasury Secretary, was caught underpaying his taxes by $43,000!
David Axelrod a senior advisor to Obama and campaign administrator claimed assets of up to $10 million and received $1.5 million in 2008 from two consulting firms he owned. He later agreed to buyouts of the firms that payed him an additional $3 million.
Timothy Giethner’s mentor, Robert Rubin was co-chairman of Goldman Sachs.
Michael Froman was Obama’s Deputy Security Advisor for Economic Affairs. He left Wall Street in 2009 to join Obama and received $2.25 million in bonuses before leaving. For the entire year 2008, Mr. Froman received $7.4 million from Citigroup! Shortly after arriving at the White House Citigroup got a $45 billion in cash and an additional $300 billion in government guarantees!
Thomas Donilon was paid nearly $4 million by a law firm whose clients were Goldman Sachs and Citigroup then become Obama’s National Security Advisor.
Louis Caldera made $227,000 while collapsing Indy Mac Bancorp in California by issuing subprime mortgages and then was further rewarded by being hired by Obama as Director of the White House Military Office. The taxpayers bailed out Indy Mac.
David Stevens was a top executive at Freddie Mac, which was bailed out by taxpayers. He was rewarded by being appointed to head Obama’s F.H.A.
Could Herman Cain be correct in his conclusion as stated on Meet The Press Sunday that he believes this Administration is trying to destroy America economically?
If the mob occupying Wall Street wants to protest banking and corporate greed, march on 1600 Pennsylvania Ave. If your issue is student loan debt, you should march on the Universities that hold your money. If you lost your home, camp outside Freddie Mac, Fannie Mae and Congress or better yet, Barney Franks house. If you think huge federal government sucks our freedom and wealth down a rat hole then vote for a businessperson such as Herman Cain. If you’re sick of war, even as Obama invades yet another country (Uganda) with out Congressional approval, and launch drone attacks across the globe, get off your trash pile and head to Washington, D.C.
The reason that the public does not know about the most corrupt administration in our history is death of the national news media. We now have only an American version of Pravda.
That’s why the Palm Beach Post Sucks!
Elbert Hubbard:
“EDITOR: A person employed on a newspaper, whose business it is to separate the wheat from the chaff, and to see that the chaff is printed.”
Good piece! I think the elitists in our "government" count on the fact that us worker bees are powerless to change their cronyism and stealing. Mostly because we are working a lot of hours to provide for our families, leaving little energy for anything else. I like Cain, also. I liked Ron Paul after reading "The Revolution: A Manifesto." But both seem doomed to failure due to the media's preferential treatment of their polished candidates. Hell, the media spend more time on how Palin is NOT going to run than on how Cain and Paul would address issues. In any case Pres O has got to go!
ReplyDeleteEvery candidate has some weaknesses. Any of the Republicans would be far superior than Obama and the idiots in his cabinet, but because they are Democrats and leftist elite, the media adores them.
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