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Wednesday
Oct262011

Disgraced Hedge Fund Manager John Paulson Sends Bankster Shill To Interview Protesters At Occupy Wall Street

Paulson's crimes are outlined here and here.

By way of background, this clip was recorded the day after protesters raised hell outside Paulson's home in Manhattan.  Paulson sent Andy Pipa, a former Morgan Stanley executive who presumably now works for Paulson's hedge fund, down to Zuccotti park to interview some of the 99%.  It ws sent to us by reader Jonathan Jetter.

Here is his email:

My name is Jonathan Jetter.  I'm an avid reader of Daily Bail.  I had a very interesting experience at the Occupy Wall Street protest a couple days ago.  I was approached by a man who asked if he could ask me some questions and videotape my answers.  I agreed, and he uploaded the video to youtube.  Talking to him afterwards, it turns out that his name is Andy Pipa, and that he was a former managing director at Morgan Stanley.

I wasn't sure what to make of the conversation at first, but I get the impression that he has no hostile intent, that he came down specifically to speak to protesters, and that he's also pretty angry about a lot of things.  His ideal solutions might be quite different from mine, but I was impressed by his willingness to hear me out.  Thanks for your time and for keeping a great site going.

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Here was my repsonse to Jonathan:

Thanks for sending the clip.  I will probably post it, but only to annihilate Andy Pipa and Paulson.  He wasn't being the nice guy you think.  He was trying to discredit you and the movement.  Pipa left out several facts.

First, Paulson and all hedge fund managers pay just 15% income tax.  It's a sickening loophole in the tax code.

Second, though you did a good job with your response, the 'we payed TARP back bullshit' Pipa was spewing MUST be met with the following response: Screw TARP, what about the trillions in stealth bailouts at 0% interest from the Fed and US Treasury.  That's the core of the bailout.  TARP was a sideshow.  Read the following story.  It explains everything.  And please read the entire thing, all the way to the bottom for the comments from Dylan Ratigan.

Let me know in comments how you would have responded to Pipa's questions.

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Reader Comments (8)

Second that, @Daily Bail. This guy (behind the camera) is still espousing the lie that because TARP funds got repaid, the country "made money" on the bailouts. The fact is that TRILLIONS were stolen silently through ZIRP, the Fed paying interest on excess reserves, Treasury paying counterparties 100 cents on the dollar for CDS contracts when the counterparties (AIG, in particular) were insolvent, and many many other silent thefts.

If I had been in front of that camera, the guy simply wouldn't have posted it, because I would have easily defended the call to End the Fed, Jail Bernanke, and Break up the Banks. It's too bad Jonathan wasn't prepared for this. I feel badly for him, because he was used. Jonathan, if you read this, I'm sorry. This guy lied to you and you weren't armed for the fight.

Keep learning. Your sign is right. Your instincts are right. In the face of a lie presented as fact (Did you know that the Fed shits rainbow skittles?), it is hard to respond unless you know it's a lie.
Oct 26, 2011 at 2:20 PM | Unregistered CommenterDon Smith
Did you know that the Fed shits rainbow skittles?

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I thought that was true...;)...

Great response, Don. You obviously understand the issues.
Oct 26, 2011 at 2:30 PM | Registered CommenterDailyBail
I think Jetter did a pretty good job. He made clear three things: 1. There's a huge difference between free markets and trillion dollar bailouts. 2. Even if bailout money is paid back, it's still immoral and wrong. 3. No more bailouts. EVER.

Obviously, Mr. Pipa played the old TARP two-step re #2., but here's why I have big respect for Mr. Jetter -- he's out there taking a stand and fighting for those of us who, for whatever reasons, can't take time off to occupy. Besides, I'm sure the next clown that tries this with Mr. Jetter will wish he hadn't.

3 cheers for the Daily Bail readership!
Oct 26, 2011 at 6:44 PM | Registered CommenterDr. Pitchfork
hi don-

no need to be sorry for your words.

i fully admit that there are people out there more informed on the issues than myself. on the other hand....things are busy. i run a small business. i often work a 10 hour day and then swing by the protest at night. i do what i can and i speak as best i can when exhausted from the daily grind.

i do stand by my original statement though. i don't think that Mr. Pipa had hostile intent. it would have been really easy for someone to have cast me in a worse light, and he chose not to.
Oct 26, 2011 at 6:59 PM | Unregistered Commenterjonathan jetter
DB can you provide a scale or table showing how many lives it costs to steal each trillion dollars? Is there anyone or anywhere this data may exist already? I could care less if they printed money past our galaxy if people weren't killed for it. How many people died world-wide because of the bailouts? Start talking in grandmas and grandpas, tios and tias, sons and daughters, pregnant women, gay couples killed, schools burnt or shutdown, teenagers murdered, etc.. These are tangible costs. A trillion can't fit in the average persons mind; that's how it got to be trillions and quadrillions now. To big to understand. Explain how many mommies and daddies it costs so that a 1% can stay afloat. Vietnam got serious when the bodies hit the floor.

Ghana
Oct 26, 2011 at 7:27 PM | Unregistered Commenterghana
Jonathan - I fully applaud your participation. I'm in Portland, and have been down to the Occupation there many times. We have it easy - a compliant city government and friendly cops. Oakland, NY, Denver, Chicago, and others have been much more dangerous and confronted much bigger threats.

I was not trying to disparage your knowledge level in any way. These are VERY complex crimes that cannot be easily explained in a tweet or on a picket sign. It takes a half an hour just to explain how the Fed shits rainbow skittles, so imagine how to explain how a Citibank CMO that is packaged and sold under the color of the law is fraud. The fact that Citi chose the underlying assets and didn't disclose that, along with the fact that they were buying derivatives that only gained in value if the underlying thing they were selling failed, makes it FRAUD.

I know you say the guy had no hostile intent, but I'm sorry, anyone who repeats a pernicious lie and then says, "What do you say about that?" has hostile intent. Yeah, he could have edited it to make it look worse, but tell me what you would have said if you knew it was a lie, and how you would have reacted? What if he told you that Bloomberg had indicted all the cops involved in brutality and said, "Doesn't that mean you can go home now?" That's essentially what he was doing. Hostile may be the wrong word, but friendly ain't it, either.
Oct 26, 2011 at 7:30 PM | Unregistered CommenterDon Smith
Did you know that the Fed shits rainbow skittles?

......DB, reamber when you told us all a year ago that all the Protests on the other side of the globe is nice, but, the sheeple in America will neaver get off the couch and say a thing about the "Rape" our goverment has pulled off aginst the American People......?

Looks like the "Daily Bail Family" was Wrong...........Holly Crap Batman, the Sheeple and Collage Kids are a wake Now........? But we need the 99% to now turn the Anger, on Goverment, Washington, ..............

People, it Aint the Banksters, they just did the "Dirty Work".........and got kick backs up the "Yang-Yang"......! I would love to see everyone march on Washington, your local goverment buildings. Come On, thAre all in on it.........Its time to take them MF Down.........

Its time to set up camp on our goverments lawn, not wall street. Just like our service men n woman are finding out the truth, so are the American People, its been the Frickking-Goverment, all a long...........!
Oct 28, 2011 at 12:03 AM | Unregistered CommenterTexas Dar
Ghana

Do a search for that. I've read articles over the past year on that topic. They are out there.
Oct 28, 2011 at 1:19 AM | Registered CommenterDailyBail

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