Ratigan & Spitzer: "At What Point Is It A Crime? We Had Absolutely No Obligation To Pay AIG Counterparties 100 Cents On The Dollar"
Video: Dylan Ratigan, Spitzer & Glenn Greenwald Discuss Federal Reserve Corruption & AIG.
You're going to love this. Eliot Spitzer goes off:
- "Larry Summers, Tim Geithner and Bob Rubin all pushed back against [those who supported regulating financial markets]. Larry Summers said AIG had contracts that we couldn't abrogate. The U.S. Government wasn't a party to those contracts! The U.S. Government stepped in to save AIG and the economy! We gave a gift -- hundreds of billions of dollars to these banks! We had absolutely no obligation to pay 100 cents on the dollar!!! We got nothing back from Goldman Sachs!"
Watch (don't click unless you're coming from our daily newsletter)
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"Everything Tim Geithner is now doing on Capitol Hill, and Barney Frank as well, unfortunately looks to the next crash, and what we do after the crash, rather than how to prevent one, and learn the lessons of what caused this crisis in the first place."
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"I would not let Tim Geithner negotiate a house purchase for me; he has done the public more harm than just about anybody I know, the way he has failed to stand up for the public. It is an abomination. It's terrible."
- "Today's GDP uptick is not about the real economy, Wall Street is not the real economy, the Banks aren't helping us get out of this slump, there are structural issues that need tending to, and they're not doing anything about it."
- "They've got to stop proprietary trading with federally-guaranteed money. End it. Break them up. Split them apart."
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Oct 30, 2009 at 8:36 AM
Reader Comments (63)
Commission Impossible: How the Angelides Commission can crack open the Wall Street scandal—if it dares.
By Eliot Spitzer
Posted Tuesday, Oct. 27, 2009, at 12:24 PM ET
http://www.slate.com/id/2233680/:
Just how do you suggest "we" go about it?
This is how:
Close your accounts in Big Banks and open @credit unions or community banks
Shred all credit cards and buy Cash only
Stop buying imported electronic shit
Boycott companies which outsource jobs
By USA manufactured only
Dump All Mutual funds and by foreign treasury bonds or US short term treasury.
That is great start to take on Banker and Corporate terrorists folks
It is non violent weapon....
Paul Craig Roberts
Tuesday, 27 October 2009 08:28
Evidence that the US is a failed state is piling up faster than I can record it.
One conclusive hallmark of a failed state is that the crooks are inside the government, using government to protect and to advance their private interests.
Another conclusive hallmark is rising income inequality as the insiders manipulate economic policy for their enrichment at the expense of everyone else.
The article is most vital and you clowns edit it ?
What a bunch of DB clowns
lo
l
Are You Ready For The Next Crisis? - By Paul Craig Roberts (27/10/09) PDF Print E-mail
Paul Craig Roberts
Tuesday, 27 October 2009 08:28
Evidence that the US is a failed state is piling up faster than I can record it.
One conclusive hallmark of a failed state is that the crooks are inside the government, using government to protect and to advance their private interests.
Another conclusive hallmark is rising income inequality as the insiders manipulate economic policy for their enrichment at the expense of everyone else.
http://vdare.com/roberts/091020_failed_states.htm
Frontline is on its way to do a meltdown show on you and your posts. Get a grip dude.
There’s no conspiracy here.
These aren’t the criminals you’re looking for.
Move along … move along …
http://letthemfail.us/archives/2558
I've read it. I love PCR. You're preaching to the choir here, which is fine, but don't have a cow because DB or one of the CTW's edits your post. BTW, I, like most people here I imagine, have already "revolted" in the manner you describe. The problem is to spread the word to others. I don't think people are afraid. People who are on the same page as all of us here aren't afraid to act, but the problem is not enough people have any clue. The best we can do is to use the media and our politicians to our advantage. They may be idiots, but let's help them be useful. We should also be thankful for interlopers like Dylan Ratigan.
Nice stuff, wil...
It's time we start doing THE SAME.
Trading large volumes of high-value carbon credits is ripe for fraud and perfect for organized crime. This makes it irresistible for Barbara Boxer and other government mafia hacks that can’t wait to play an insider’s role in a carbon emissions trading market here in America. They will also enjoy the increased power they will have to collect new taxes that can directly control your behavior and decisions. Barbara Boxer understands that by knowing when and how to act based on the changing laws, taxes and incentives, she will have her very own gold mine. Obama, Gore, Boxer, etc. will mask the evil intent of this scheme and scam by talking about granola and saving the whales but don’t be fooled. It is about money, power, and control and they are not noble. Controlling how businesses and citizens use energy is the next step in governing your choices and further advancing Obama’s agenda on the complete takeover of your freedoms. Evil has many faces and one is being your protectorate. Yes, that is what sparked the last great revolution. The masked use of caring is a very cunning way to gain the control of others. Punishment and suffering done willingly to feel a sense of relief and restore one’s dignity is also part of the human psyche. I know this because I have read Nietzsche’s The Will to Power many times.
“Nietzsche thinks that altruism is a sign of a sick and decaying culture that no longer values the talented individual. Unless the talented individual is able to live for his own sake, he will never achieve great things. “
“Man, as the animal that is most courageous, most accustomed to suffering, does not negate suffering as such: he wants it, even seeks it out, provided one shows him some meaning in it, some wherefore of suffering.”
Don’t be fooled!
Nietzsche, who was anti-democracy, anti-Christianity, anti-Judaism, anti-socialist and self-acclaimed Anti-Christ, expressed his belief in a master race and the coming of a superman in many of his works. In his unique aphoristic style, Nietzsche wrote in The Genealogy of Morals (III 14):
The sick are the great danger of man, not the evil, not the 'beasts of prey.' They who are from the outset botched, oppressed, broken those are they, the weakest are they, who most undermine the life beneath the feet of man, who instill the most dangerous venom and skepticism into our trust in life, in man, in ourselves…Here teem the worms of revenge and vindictiveness; here the air reeks of things secret and unmentionable; here is ever spun the net of the most malignant conspiracy – the conspiracy of the sufferers against the sound and the victorious; here is the sight of the victorious hated.
Context is a critical factor to understanding Nietzsche's philosophy. Nietzsche's reference to the sick, their vengeful attitude and conspiracy, and in related writing, the Jews, parallels the concepts and terminology used in Hitler's Mein Kampf. However, I do not propose that the anti-Semitic interpretation of Nietzsche's work began with Hitler.
Hitler describes Jews as slaves in the same sense as Nietzsche. Hitler points to "slavery" as the ugliest aspect of human life in the past and present, while linking the Jews and their influence (i.e. "cultural perfume") to the deterioration of values, which is manifest in the "schwabing decadents." Hitler describes the product of the cultural perfume as the "whole man" and "half man," which are terms used to describe individuals motivated by self-preservation, as opposed to those whose individual guilt is ridden by morality, seeking to help others. Hitler defined the "degeneration" of man in these terms.
In The Will to Power, a number of aphorisms present solutions to the decadence of Europe and the World. In aphorism 862, Nietzsche proposes a doctrine of breeding and annihilation:
A doctrine is needed powerful enough to work as a breeding agent: strengthening the strong, paralyzing and destructive for the world weary. The annihilation of the decaying races. Decay of Europe.-The annihilation of slavish evaluations.-Dominion over the earth as a means of producing a higher type.-The annihilation of the tartuffery called 'morality.' The annihilation of suffrage universel; i.e. the system through which the lowest natures prescribe themselves as laws for the higher.-The annihilation of mediocrity and its acceptance (The one sided, individuals – peoples; to strike for fullness of nature through the pairing of opposites: race mixture to this end). The new courage – no a priori truths…
This proposal of annihilation highly compares to Hitler's policies of extermination. Both Hitler and Nietzsche assert that the host of the slavish disease of values and decay is the clever Jew, the need for a spiritual base of independence of thought and action, the revaluation of strong and weak, and the annihilation of the slaves. By juxtaposing Hitler's work and Nietzsche's, the groundwork of Mein Kampf is clearly a literal interpretation of Nietzsche's work.
Nietzsche will never be my role model, if he was I to would be mad, and I do not believe anti-semitism, or "hookers on their backs", or what not.
Tell me something I don't know about carbon credits.
Great stuff, DB - I live for this.
Any guesses on how many banks the FDIC closes after the bell in this "V" shaped recovery?
If you guess right you win a toaster from each closed institution.
Any guesses how high unemployment will rise in this "V" shaped recovery?
If you guess right you win a bus pass to the unemployment office nearest you.
Any guesses how much further home prices have to fall in this "V" shaped recovery?
If you guess right you win a free for sale by owner sign.
Any guesses what comes first Bernanke runs out of ink or the Greenback's value falls to zero?
If you guess right you win the right to exchange your dollars for pesos.
Just how do you suggest "we" go about it? This is how:
Close your accounts in Big Banks and open @credit unions or community banks
Shred all credit cards and buy Cash only
Stop buying imported electronic shit
Boycott companies which outsource jobs
By USA manufactured only
Dump All Mutual funds and by foreign treasury bonds or US short term treasury.It is non violent weapon....
I do not think so. I think it is time to take it out again and stash it somewhere else. Banks are gambling with your money in the Stock Market. Without Glass-Seigel they can use Bank Deposits to Trade with. What happens if the trades go wrong? Do you have that much faith in the Stock Market to put your Bank Deposits as risk with the HUGE leverage the Banks are using to Trade the Markets? I do not.
If you do not have enough faith in the Market to put your money at risk, then why do you keep your deposits in the Bank and let them put your savings in the market and put them at risk?
Why should you get .03% interest when your money in your savings account is being Gambled with in the Stock Market by your Bank? If their leverage is 30 to 1 and they lose on their trades the money in your Savings Account is GONE.
Remember the FDIC is Broke. The FDIC may have to issue IOU's to you for your Savings. More than likely they will EVENTUALLY be good but it could take 3 years or more.
The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today.
“There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”
The Fed, led by Chairman Ben S. Bernanke, has come under greater congressional scrutiny while attempting to end the financial crisis by bailing out financial firms and more than doubling its balance sheet to $2.16 trillion in the past year. The central bank is also buying $1.25 trillion of securities tied to home loans.
Paul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee.
Keith Kelly, a spokesman for Watt, declined to comment and said Watt wasn’t immediately available for an interview. Watt’s district includes Charlotte, headquarters of Bank of America Corp., the biggest U.S. lender.
Paul said he intends to introduce an amendment to the bill when it comes to the House floor for a vote restoring the legislation’s original language.
http://www.bloomberg.com/apps/news?pid=20601103&sid=atc2o1ijLRno
Letters, Faxes, Phone calls....I'm sure....ENOUGH IS ENOUGH!
Where are the freaking blimps people???
http://www.dailypaul.com/
http://www.youtube.com/watch?v=dLwBLQ6DZjI&feature=player_embedded#
Submitted by Marla Singer on 10/30/2009 21:08 -0500
Won't you please give to UNICEF the FDIC fund this Halloween?
Failed Bank City State Deposits
(in millions) Assets
(in millions) Branches
Bank USA, National Assoc. Phoenix AZ $212.8 $117.1 2
California National Bank Los Angeles CA $7,792.2 $6,160.4 68
San Diego National Bank San Diego CA $3,608.1 $2,892.4 29
Pacific National Bank San Francisco CA $2,335.3 $1,762.8 18
Park National Bank Chicago IL $4,706.1 $3,730.9 30
Community Bank of Lemont Lemont IL $81.8 $81.2 1
North Houston Bank Houston TX $326.2 $308.0 2
Madisonville State Bank Madisonville TX $256.7 $225.2 1
Citizens National Bank Teague TX $118.2 $97.7 2
OUCH: $19,437.4 $15,375.7 151
http://newlibertystandard.wetpaint.com/
While all attention was fixated on the totally controlled presidential race, everyone ignored the heart of the problem, the Congress! The powers-that-be con everyone into believing all the power lies with El Presidente. Well, it doesn't my friends. The Congress has more power than the executive branch and . .
http://kickthemallout.com/
http://oathkeepers.org/oath/2009/03/03/declaration-of-orders-we-will-not-obey/
http://www.youtube.com/watch?v=Zf2K4-BQYAI&feature=player_embedded
Video: Oath Keepers Speak Out at Inaugural Conference
http://www.youtube.com/watch?v=hP6gKUqDLvM&feature=player_embedded
Shred all credit cards and buy Cash only
Stop buying imported electronic shit
Boycott companies which outsource jobs
By USA manufactured only
Dump All Mutual funds and by foreign treasury bonds or US short term treasury.
That is great start to take on Banker and Corporate terrorists folks
It is non violent weapon....
got this from a friend
I had a former employee call me earlier today inquiring about a job, and at the end of the conversation he gave me his phone number.
I asked the former employee if this was a new cell phone number and he told me yes this was his "Obama phone."
I asked him what an "Obama phone" was and he went on to say welfare recipients are now eligible to receive (1) a FREE new phone and (2) approx 70 minutes of FREE minutes every month. I was a little skeptical so I Googled it and low and behold he was telling the truth. TAX PAYER MONEY IS BEING REDISTRIBUTED TO WELFARE RECIPIENTS FOR FREE CELL PHONES.
This program was started earlier this year. Enough is enough, the ship is sinking and it's sinking fast. The very foundations this country was built on are being shaken. The age old concepts of God, family, and hard work have flown out the window and are being replaced with "Hope and Change" and "Change we can believe in."
http://www.factcheck.org/2009/10/the-obama-phone/
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"Low-income households have been eligible for discounted telephone service for more than a decade. But the program is funded by telecom companies, not by taxes, and the president has nothing to do with it. "
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I'm continually amazed at how insightful Spitzer is.
@ Paul E. Math -- Are you 'Political Math' on youtube?
The Ron Paul HR 1207 story is big...we'll be covering it this weekend...
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@Gobias
Explain the Michael Kalish reference...
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@Truth Excavator
Good to see you around.
"I'm hoping for a crash, so we finally get rid of Geithner and Summers. Eventually it happen, so the sooner the better. At some point they will be forced to step down as they will exhaust their credibility and be villified by the public. Sooner or later...... "
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Eventually is the key word...they are doing everything possible to re-inflate the bubble and make sure it doesn't come crashing down on their watch...
You should join the discussion more often...
Gompers tried to impress us by telling us what he knew about Nietzsche...he chose to do this by copy and pasting a student research paper by Michael Kalish like it was his own understanding...you can easily see what is his in the post (3rd grade insults without a hint of cleverness)...
http://www.history.ucsb.edu/faculty/marcuse/classes/133p/133p04papers/MKalishNietzNazi046.htm
It was a waste of space post after what was a A plus post of mine...Carbon Tax & Trading, Government & Organized Crime…with some key Nietzsche quotes, the guy may have gone mad but he was very insighful to say the least in understanding human nature.
Gomp had no reply to my gotcha...not surprised.
Former Federal Reserve Chairman, Greenspan: 'We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power' - February 15, 2005
It is very common among 'sound money' believers to entertain some kind of fascination with Greenspan who spoke out against 'irrational exuberance and 'infectious greed' at the end of the dotcom cycle as he now warns that ' the Fed is not a magic piggy bank'. For them, Greenspan will always be remembered as the engineer who has unleashed the Horsemen, calling for America's demise and the world by extension. The Maestro and his cheerleaders from around the planet should be very happy that the 'guillotine' has become an historical relic, because what is happening is, without a doubt, reminiscent of the events that led to the devastating hyperinflation and the bloody French Revolution. Loose monetary policy and decades of faulty interest rates are the absolute main culprits. When interest rates fail to control the amount of debts, the opposite happens: it then increases the burden of debt inexorably. Just like printing too much money inflates prices while provoking currency devaluation. More money is then needed to purchase the same goods and services. This is an insidious process that corrupts many minds, from the top down. The top takes advantage of the bottom. And that is why the gap between the rich and the poor worsens, and the middle-class ends up being destroyed. As The above quote by The Maestro stipulates, the FDIC won't be able to do a thing when the USD will become peanuts - eventually.
Our government and its owners appear to be testing how much the American public will tolerate. A few years ago, no one could have imagined that the silent majority would quietly accept thefts of this magnitude from a government that stopped tiny payments to single mothers with poor children in the name of welfare reform because the program's $10 billion cost was breaking the federal budget. This isn't socialism, it's fascism. -- Sean Olender, sfgate.com
It is tempting to assume that human beings are a lot more clever nowadays but are they really so? What is left from the 'Industrial Revolution' and its ideology behind that compelled women to join the ranks of the work force, claiming that they would help the family enjoy an unprecedented wealth. Unfortunately this is not what has happened. The reality shows that the average working families are today in debts up to their eye balls and one of the parents often has two jobs. Due to inflation, nearly 30% of US families now subsist on poverty wages. Their children are burdened with student loans that will take 30 years to be repaid. What quality of life may a young couple into medicine expect today with loans topping half-a-million dollars?
To preserve their [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude - Thomas Jefferson
Originality...
1 : the quality or state of being original
2 : freshness of aspect, design, or style
3 : the power of independent thought or constructive imagination
DB, lower the bar for your readers so they can give us their own thoughts and beliefs. Oh crap, I am late for church.
Just playing with Dailybail brains
USA Bamboozled Generation ....cowards with no balls?
Dailybail post links from all sources here and what else?
Edit what ever is not their liking?
LOL
What a revolution here?
http://www.forbes.com/forbes/2009/1116/opinions-great-depression-economy-on-my-mind.html
I was not here to reply Gobias, my neighbor showed up Friday night up to load the dragster for the race yesterday, so I had to hurry. So I chose a few excerpts from a young mind that just touches on your hero.
There is so much that can be said about the errors of Nietszche, and I have seen no good come of his philosophies, examples of this are Hitlers Germany, as well as countless third world strongmen through out the years.Though I suppose some would say it was good for them.
As Neitszche states:
"I teach you the overman. Man is something that shall be overcome. What have you done to overcome him? … All beings so far have created something beyond themselves; and do you want to be the ebb of this great flood, and even go back to the beasts rather than overcome man? What is ape to man? A laughing stock or painful embarrassment. And man shall be that to overman: a laughingstock or painful embarrassment. You have made your way from worm to man, and much in you is still worm. Once you were apes, and even now, too, man is more ape than any ape.… The overman is the meaning of the earth. Let your will say: the overman shall be the meaning of the earth.… Man is a rope, tied between beast and overman—a rope over an abyss … what is great in man is that he is a bridge and not an end."
The overman is crap Gobias, but this spawned the deaths of 20 million people because the Germans took this and the anti semite preachings of Martin Luther, and created their own overman program called the Aryan race. They set up breeding programs as well as killing programs. History has proven those born of the breeding programs were mediocre at best.
And man overcame overman, because it was crap.
Horse racing proves this as well, just because you breed two champions does not guarantee birth of a champion, besides, look what Jesse Owens did to the "master race".
You can preach your party doctrine from the American Socialist, Saul Alinsky, and the crap of Nietzsche all you want, but it is still crap, just like party propaganda. In the end we all come into this world in diapers, and we will go out in diapers, if we live long enough. And you can lay in the nursing home bed and hit the nurse call screaming "I am overman, I have pooped myself, clean me now!", and they will most likely make you lay in it a while.
By the way, Hitler and Nietzsche both are thought to have had the syph, maybe it is a requirement to be an overman. Will to power was Nietzsche's edited works works compiled by his sister who was married to Bernhard Förster, a former high school teacher who had become a fanatic anti-Semitic agitator.
Hitler believed that the supreme leader is above the morals of ordinary men. Nietzsche, went further in The Will to Power:
" The strong men, the masters, regain the pure conscience of a beast of prey; monsters filled with joy, they can return from a fearful succession of murder, arson, rape, and torture with the same joy in their hearts, the same contentment in their souls as if they had indulged in some student's rag.... When a man is capable of commanding, when he is by nature a "Master," when he is violent in act and gesture, of what importance are treaties to him?... To judge morality properly, it must be replaced by two concepts borrowed from zoology: the taming of a beast and the breeding of a specific species."
You choose strange heroes.
I am still interested in what you know about the carbon credits.
http://nobeliefs.com/luther.htm
http://en.wikipedia.org/wiki/Judensau
You already know Nietzsche...
Don’t be a simpleton Gomp, you are better than that. You have it all backwards concerning Nietzsche. Nietzsche is very misunderstood and complex, I will give you that. His philosophy is often overly simplified, taken out of context (his use of contradiction), and grossly distorted (as you did). Keep in mind that he is a victim of his time as so often happens. He liked the aristocratic society and its ideals. They also paid for his lifestyle and supported his endeavors. He heavily criticized women, another sign of the times and mostly due to his upbringing and his awkwardness around them. He sure isn’t Kierkegaard with a hot muse for his writings and the disposition and ego of a Dane. He was German and they have a strong temperaments and “stubborn brains”.
Nietzsche did not hold socialism or nationalism in high regard. In fact, he wrote about the dangers of combining the two (National Socialism). Nietzsche disdained socialism (use of its ideals to create a utopia) and referred to it as part of the herd mentality (opposite of his Superman / ubermensch). He also did not support militarism. It is true that Nietzsche believed in the power of the individual (the Superman) and the greatness of the German people (their culture, art, music, etc. – very patriotic you could safely say) but the Nazi interpretation and use of his work was as twisted as the Nazi actions and attitudes (viewpoints).
“Man is something that shall be overcome.... Man is a rope, tied between beast and overman -- a rope over an abyss... What is great in man is that he is a bridge and not an end.” I think he is pointing out that without the constraints and presuppositions of society whether it be faith in God (his faith was his philosophy, very understandable) or national governments, man is free, wild, and self sufficient. Man is what he was born to be.
Gomp says... You choose strange heroes.
I say, you choose not to see the relevance and value of Nietzsche’s pure reasoning and his opposition to the sufferings of man.
“Man, the bravest of animals and the one most accustomed to suffering, does not repudiate suffering as such; he desires it, he even seeks it out, provided he is shown a meaning for it, a purpose of suffering. The meaninglessness of suffering, not suffering itself, was the curse that lay over mankind so far…man would rather will nothingness than not will.” Nietzsche
Okay, now to make a point...Look at what Obama and the left is doing to push their health care agenda. They are telling us how and why we are suffering (their view) and how we can stop the suffering if we give them the power to seize control of the health care industry. Nietzsche would think of Obama as a stooge of Karl Marx. I would agree.
But wait...it gets better...this is going to be very disturbing for someone of your ilk...some quack used Nietzsche to explain why he voted for Obama...ouch! From the Huffington Post...”Obama is Nietzchean”...That should make you of all people think this over and come to a different conclusion...I know, it won’t.
http://www.huffingtonpost.com/ali-eteraz/obama-is-nietzschean_b_93429.html
USA financial system sis busted and now ponzi scam by Washington Criminals on us all...............
Here goes:CIT.................
Nov. 1, 2009, 4:28 p.m. EST · Recommend (2) · Post:
CIT files for bankruptcy protection after rescues fail
Lender lost access to financing when crisis felled shadow banking system