60 Minutes: Obama On Wall Street Bonuses

Obama's faux outrage.

More lies from Obama on Wall Street bonuses...

Related:

Big Bonuses At Goldman Sachs, New Book Exposes Bank's Culture...

Comments

[Cheyenne]

Faux outrage is scheduled for yet another display in the Senate this Friday at 9:30 a.m...

http://www.hsgac.senate.gov/subcommittees/investigations/hearings/chase-whale-trades-a-case-history-of-derivatives-risks-and-abuses

Taken together, all previous displays of outrage by bought-and-paid-for governement representatives have produced nothing of any substance whatsoever. In fact, the impotence of these carnivals has become so predictable, indeed so yawn-inducing, that it appears disinformation merchants in congress are working overtime trying to distract people from the barren wasteland of justice with wild promises of a brighter future.

Sadly, this wholly unbelievable puffery manages to turn up credulous writers and bloggers round after round after round after round after round--where was I? fucking Jaeger bombs!!!--as reliably as Charlie Brown's appearance before Lucy's teed up football. In the current episode of "The Dupe" we see none other Dave Dayen in the starring role:

"People I’ve talked to expect the hearing to be explosive. As an excellent preview for the Friday fireworks..." Yeah, yeah, yeah.....zzzzzzzzzz THUDDdddd.

http://www.nakedcapitalism.com/2013/03/david-dayen-out-of-control-new-report-exposes-jpmorgan-chase-as-mostly-a-criminal-enterprise.html

Speaking of puffery, if anyone knows Dayen I am in need of several bales of kush in time for that hearing. I like mine with orange and purple hairs in it. For when magic dragon slayers fail to materialize in the Senate, I shall require a suitable substitute to go with much libation.

[SKINFLINT]

More faux outrage. http://mobile.bloomberg.com/news/2013-03-14/only-wall-street-wins-in-detroit-crisis-reaping-474-million-fee.html

[SKINFLINT]

Price fixing pm. http://www.zerohedge.com/contributed/2013-03-14/gold-and-silver-prices-are-set-libor-daily-conference-calls-between-handful-b

[SKINFLINT]

Damn Cheyenne, JPM certainly has quite the rape sheet. When laid out in front of you like that it just reads like a rap sheet for organized crime. Punk ass Dimon should be somewhere punching new plates for automobiles. Fridays hearings will not get the attention as I am sure that the press will be covering something more interesting, like the Pope using the public toilet or perhaps how the next exhibit your symptom TV show will somehow improve your station in life.

[Cheyenne]

Rape, indeed, Skin, together a rash of other illegalities detailed in new report by Josh Rosner. Make no mistake here, though, as to who the "punk asses" will be in the Senate hearings set for 9:30 a.m., because it isn't Jamie Dimon. He's not testifying.

Let's consider the actors involved in the imminent charade. First is Carl Levin, whose Senate subcommittee has investigated financial crimes before only to come up empty-handed. If memory serves, Levin produced a criminal referral that went straight into Eric Holder's waste basket without so much as forrowing the senator's brow.

Next is John McCain, who co-authored the report at the heart of tomorrow's hearing. McCain has never seen a financial fraud that he couldn't either profit from (as the worst of the Keating 5 scum in the S&L crisis) or cover up with bailout monies taken from the taxpaying fraud victims against their will (as the man who fatally derailed his own presidential campaign to champion TARP).

There are also the JP Morgan hearing witnesses such as Ina Drew. They will function as the punching bags tomorrow. One or two of them might even appear to lose their jobs. I say appear because that will happen only if they have already been compensated for a couple lifetimes' worth of "work" in exchange for any Kabuki hara kiri you might think you've seen. Rest assured it is fake, which is why you won't hear anything about the Senate's subpoena power in re witness compensation memos and agreements.

Unseen players include the aforementioned Washington disinformation merchants. Since last night, for example, another blogosphere luminary, Matt Taibbi, has weighed in on the supposed severity of the hearing using exactly the same term as Dayen: "explosive"

http://twitter.com/mtaibbi/status/312340511220432896

In other words, Disinfo Merchants 2, Public nil. Stay tuned for scoring updates.

Finally there is the Attorney General of the United States. He recently issued the formal coroner's report pronouncing the Rule of Law dead. That only underscores, does it not, the fact that the entire Senate proceeding tomorrow is fundamentally a sham? JP Morgan enjoys its status above the law as a matter of law now. How in the fuck can the Senate at this point even purport to be relevant? I'll tell you how: by conducting the impeachment trial of Eric Holder. Place your bets on when that will happen. In the mean time, enjoy the latest iteration of the fraudulent conspiracy between Washington and Wall Street on display in a few hours.

Matt Taibbi will be covering the Wrestlemania event live...

http://www.rollingstone.com/politics/blogs/taibblog/live-blogging-senate-hearing-tomorrow-when-j-p-morgan-chase-will-be-torn-a-new-one-20130314

Let's be clear about the so-called "explosion" that is apparently on tap: the goalposts of the financial crisis moved wtih Holder's declaration that systemic banks will not be prosecuted. With that, the U.S. jettisoned all pretense to the ideal formerly known as the Rule of Law and indeed democratic governance. Beware fake field goals on this Ides of March. Anything short of impending impeachment proceedings is a clear miss now.

[SKINFLINT]

Don't know why Taibbi would kiss McCains ass like this. I can emember his eminence talking to his sponsers back when this thing blew up basically conceding that there were no laws broken but that these large tubes should be ashamed of themselves. That was when my radio in my truck ceased to work. Barnhardt makes a compelling case to return to a monarchy. Point being that when shit hits the fan like this, it's much easier to take care of the mess because there are a lot less people to have to wrangle. That and the fact that people are basically too stupid, but that goes back to disinformation and the race to bottom educational system.