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Friday
Jul012011

Geithner's Crimes Through AIG - Will The Truth Come Out

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Reader Comments (16)

Feb 24, 2011 at 8:25 PM | Registered CommenterDailyBail
Feb 24, 2011 at 8:40 PM | Registered CommenterDailyBail
Feb 24, 2011 at 8:40 PM | Registered CommenterDailyBail
Homes in the foreclosure process sold at an average 28 percent discount last year and may continue to drive down U.S. housing prices as the supply of distressed properties grows, according to RealtyTrac Inc.

http://www.bloomberg.com/news/2011-02-24/distressed-homes-sold-at-28-discount-last-year-with-bloated-u-s-supply.html
Feb 24, 2011 at 8:41 PM | Registered CommenterDailyBail
Let's not forget that after Geithner overruled the AIG-negotiated haircuts, Timmy went on to become Treasury Secretary. One of his first acts in that capacity was to uphold the AIG executive bonus contracts. Tim cited the sanctity of contracts as a reason to reward AIG for its massive failure.

Even accepting that argument at face value (quite a concession given the fate of GM's unsubordinated bondholders), one look at those contracts reveals something quite interesting. While the specified bonuses were denominated in U.S. dollars, nowhere did the contracts require cash payouts. The bonuses could have been paid for with toxic assets. Since AIG executives and others maintained that such assets were worth as much as 95 cents on the dollar, satisfying those bonus payments with CDO's and whatnot was both legally and morally beyond reproach. And yet that didn't happen.

The AIG episode is all you really need to know about who the government truly represents. Hint: it ain't you.
Feb 25, 2011 at 2:02 AM | Unregistered CommenterCheyenne
The New Hampshire House of Representatives voted Wednesday to pull out of the Regional Greenhouse Gas Initiative.

[snip]

"Three years ago when RGGI was approved, the rallying cry was that we must join RGGI or the planet will dry up. Here we are three years later ... and the rallying cry is we can't lose RGGI or the money will dry up," Garrity said, according to The Associated Press.

State Rep. Frank Holden (R-Lyndeboro), vice chairman of the House's Science, Technology and Energy Committee, wrote the committee's majority report on the bill.

"It was clear to us that RGGI was really all about the money and not about the climate," Holden wrote. "The majority believes it is not the proper role of government to create burdensome mandates which take a small amount of money from the many (electric ratepayers), funnel that money through multiple levels of bureaucracy (RGGI and the New Hampshire Public Utilities Commission), and redistribute a large amount of money to the few. The majority believes that RGGI was a stealth tax, hidden in the electric rates of our constituents."

Holden also said in the majority report that the "science of climate change is far from clear," and that New Hampshire does not need a "complex and expensive multistate scheme to find solutions to (its) environmental and energy challenges."
Feb 25, 2011 at 9:38 AM | Unregistered Commenterjohn
The MSM are running Climate stories now to beat the band.... This is a huge setback to Wall Street and a few others.
Feb 25, 2011 at 10:09 AM | Unregistered Commenterjohn
From Forbes...

http://www.forbes.com/feeds/ap/2011/02/23/business-us-pollution-fund-repeal-new-hampshire_8322580.html

[snip]

"Three years ago when RGGI was approved, the rallying cry was that we must join RGGI or the planet will dry up. Here we are three years later ... and the rallying cry is we can't lose RGGI or the money will dry up," he said.

Garrity also said the current law is a stealth tax on electric users.

Last year, New Hampshire raided its fund to help pay for other state spending - a move Lynch supported and defended by saying the overall goal of reducing energy demand was being met through a mix of state and federally funded programs.

State Rep. Beatriz Pastor, D-Lyme, rejected Garrity's position as unwise. If one accepts the science is uncertain, the risks of doing nothing are too great, she said. By the time the question is answered, the damage to the environment will be irreversible, she said.

"Noah got intelligence a natural disaster was about to occur. He could have looked out the window and said, 'It doesn't look like it is going to rain,'" she said.

Comment: What was Mr. Paulson saying saying about the 'BAIL OUTS' not too long ago?... Time to man the buckets! LOL!
Feb 25, 2011 at 1:09 PM | Unregistered Commenterjohn
Silver Lake Teams with Soros on New Vehicle

http://www.hedgefund.net/publicnews/default.aspx?story=12233

[snip]

The firm is led by Adam Grosser, the former general partner at Foundation Capital. Grosser, a 28-year technology veteran, has invested in Apple, Lucasfilm, and @Home Network during his career.

Grosser is joined by Cathy Zoi, who recently resigned from the Obama administration as its acting under secretary for energy, and the assistant secretary for energy efficiency and renewable energy. She will join Kraftwerk in April.
Feb 25, 2011 at 2:08 PM | Unregistered Commenterjohn
Go on youtube and type naked credit default swaps geithner after retrieving a fresh vomit pail.
Feb 26, 2011 at 9:22 PM | Unregistered CommenterCheyenne
Fuck alex jones.
Feb 26, 2011 at 9:32 PM | Unregistered Commenterjohn
Ireland Votes, Merkel Drinks

http://market-ticker.org/akcs-www?post=181067

[snip]

The "European Diplomat" would be wise to stay the hell out of Ireland. I hear the Irish tend to have bad tempers, especially when screwed and drunk.

Have some more whiskey, my friends....
Feb 27, 2011 at 10:42 AM | Unregistered Commenterjohn
Guest Post: Analysis of the Global Insurrection Against Neo-Liberal Economic Domination and the Coming American Rebellion

http://www.zerohedge.com/article/guest-post-analysis-global-insurrection-against-neo-liberal-economic-domination-and-coming-a

[snip]

We must enact common sense polices to deter organized corruption. The devil is always in the details, so rain RICO laws down upon them.

They shall reap what they sow.

Their day of reckoning is fast approaching.


Comment: Outstanding piece.....
Feb 27, 2011 at 11:01 AM | Unregistered Commenterjohn
The only thing I care about Libya Daily Bell is the fact that WE have to pay for another War that we have NO business in it's a civil war obama has blood on his hands he never served but he has no problems sending others where's the outrage??? There's plenty of brutal regimes around the world just look at the Saudi's opening fire on their own people and now on those in Bahrain obama's strangely silent on that they are even burning mosques and qu'rans chirp, chirp from obama and the mainstream news. Why? Oil
Apr 15, 2011 at 4:59 PM | Unregistered CommenterLiberatedCitizen
agreed LC...
Apr 16, 2011 at 8:07 PM | Registered CommenterDailyBail

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