Friday
Jul012011
Geithner's Crimes Through AIG - Will The Truth Come Out
Video - Max Keiser & Stacy Herbert
At issue is Tim Geithner's criminal behavior in orchestrating the AIG bailout to favor Goldman Sachs through counterparty payouts at par, and then the massive cover-up.
Further reading:
- Who Is Dan Jester And Why Did Tim Geithner Call Him 103 Times During The Financial Meltdown Of 2008?
Jul 1, 2011 at 1:26 PM
Reader Comments (16)
http://www.bloomberg.com/news/2011-02-24/sales-of-new-u-s-homes-dropped-more-than-economists-forecast-in-january.html
http://www.bloomberg.com/news/2011-02-24/qaddafi-blames-revolt-on-al-qaeda-as-foes-tighten-hold-in-east.html
http://www.bloomberg.com/news/2011-02-24/egyptians-fleeing-libya-tell-of-massacre-after-qaddafi-hits-back-at-rebels.html
http://www.bloomberg.com/news/2011-02-24/home-prices-in-u-s-slid-4-in-fourth-quarter-on-foreclosures-fhfa-says.html
http://www.bloomberg.com/news/2011-02-24/distressed-homes-sold-at-28-discount-last-year-with-bloated-u-s-supply.html
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.
[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."
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!
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.
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....
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.....