This is outstanding. And the source for this negative review happens to be FDL, a well-known left-leaning, progressive website. So if you're an Obama supporter, sorry for the bad news but even your own side knows Obamacare is a fraud.
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Sayonara to a Federal Reserve truth teller...
From Bloomberg earlier today. Major kudos to the segment producer for creating a truly beautiful moment as Emperor Warren appears naked in front of millions.
By the way, Becky Quick's favorite uncle claims to drink 5 Cherry Cokes per day.
We wonder how Buffet might fare on a bailout taste test?
Would he perhaps be able to differentiate the taste of foreclosure fraud at Bank of America from mortgage origination fraud at his beloved Wells Fargo? And what about collusion, racketeering and subprime ratings fraud at Berkshire darling Moody's?
We wonder how those frauds taste to Warren.
Or does he think, like with Cherry-flavored beverages, that all fraud simply tastes the same... including his own personal ripoff of taxpayers:
Bernanke and everyone else knew LIBOR was rigged and did nothing. It had always been that way (make-believe) to a small degree, amplified greatly during the crisis, but left alone by central-banking and other printing puppetmasters as it benefited 'financial stability' at the time to show low(er) LIBOR rates. And there was another reason they did nothing - they had bigger carcasses (bailouts!) on their plate - AIG rescue, Lehman fallout, Fannie & Freddie taxpayer fellatio, Morgan Stanley 1-day-from bankruptcy, Goldman teetering, etc.
Remember that 'benefiting financial stability' is the reason that Cuomo ended several active Wall Street prosecutions in 2009 at the request of friend Tim Geithner, who visited the NY AG secretly to make the case. And since Chris Whalen just explained that Bob Rubin was actually running the entire bailout program at the New York Fed in 2008, we can perhaps assume that Rubin issued the 'no prosecution' directive to Geithner, though it is much more likely that no directive was needed between the like-minded bailout henchmen.
In Ron Suskind's book, Confidence Men, he quotes Geithner as telling Obama:
July 13 (Bloomberg) -- Neil Barofsky, former special inspector for TARP discusses the collusive failure of regulators in the LIBOR scandal. Runs 5 minutes.
Runs 2 minutes. Start watching at the 30-second mark. Interview from about an hour ago. Gensler is a former Goldman squid, and current Chairman of the CFTC. He passes the regulatory blame to the NFA for not detecting Peregrine fraud even though the CFTC did audits of PFG in 2006 and 2008, and he completely whiffs (out of fear - watch his eyes) when given a chance to tell the American people that there are no other fraudulent brokers out there.
With brilliant dudes like this in charge of finreg, I see no reason to worry.
Substantially more detail than any previous reporting. Given views on Hamas within Congress, HSBC is probably toast. Don't be surprised if the fine exceeds $1 billion, which is the current high-end of analysts estimates.
Chart is inside to save space on the front page.
Jul 18, 2012 at 3:06 PM
