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)
"That should make you of all people think this over and come to a different conclusion...I know, it won’t."
I am going to let you in on a secret, I am not a Democrat, I am a Populist. You are probably the only one here that misses that.
The syph thing was a inside joke.
In the end, what we do for ourselves, goes to the grave with us. What we do for others, keeps us alive long after we are gone. Nietzsche was a man without a country, for he renounced his citezenship. And still today his work is mishandled by every group who perceives themselves to be "overman".
Harsh reality and indigestion
The waste and fraud in the current healthcare system will not be alleviated by inserting a new government bureaucracy into the equation. A Thomson Reuters report disclosed these findings:
Unnecessary care such as the overuse of antibiotics and lab tests to protect against malpractice exposure makes up 37% of healthcare waste or $200 to $300 billion a year.
Fraud makes up 22% of healthcare waste, or up to $200 billion a year in fraudulent Medicare claims, kickbacks for referrals for unnecessary services and other scams.
Administrative inefficiency and redundant paperwork account for 18% of healthcare waste.
Medical mistakes account for $50 billion to $100 billion in unnecessary spending each year, or 11% of the total.
Preventable conditions such as uncontrolled diabetes cost $30 billion to $50 billion a year.
The average U.S. hospital spends one-quarter of its budget on billing and administration, nearly twice the average in Canada.
“Democracy and socialism have nothing in common but one word, equality.
But notice the difference: while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude.”
Alexis de Tocqueville
The Constitution of the United States and its Bill of Rights clearly define our method of representative government. Both our social and economic systems are based on private enterprise from which springs initiative and ingenuity. Ours is a system where the Federal Government should undertake no governmental, social or economic action, except where local government, or the people, cannot undertake it for themselves. No one in Washington DC, other than Representative from Texas Ron Paul, understands or believes this. Over time, government has taken unwarranted actions to protect people from the consequences of their actions by restricting citizen options. In addition to invoking government to heavily regulate the economy and redistribute wealth, Democrats now insist that we need government to make many of our private decisions for us, because individuals can't be trusted to make them on their own. The passage of this 1,990 page socialist control bill will impose more restraint on your rights and inflict increased servitude to the State.
“What is ominous is the ease with which some people go from saying that they don't like something to saying that the government should forbid it. When you go down that road, don't expect freedom to survive very long.” Thomas Sowell
Before Medicare and Medicaid, the poor and elderly were admitted to hospitals at the same rate as they are admitted today and received excellent care. Before those programs came into existence, every physician understood that he or she had a responsibility towards the less fortunate and free medical care was the norm. Physicians take the Hippocratic Oath seriously. These facts do not fit into the current liberal script of government rescuing us from greedy insurance companies and evil doctors. The fact is that no one in this country is dying because they lack healthcare. Every person in this country, including illegal aliens, can walk into an emergency room and they will be treated by the best doctors and nurses in the world. Dr Ron Paul explains how it was and how it will be:
“For decades, the U.S. healthcare system was the envy of the entire world. Not coincidentally, there was far less government involvement in medicine during this time. America had the finest doctors and hospitals, patients enjoyed high-quality, affordable medical care, and thousands of private charities provided health services for the poor. Doctors focused on treating patients, without the red tape and threat of lawsuits that plague the profession today. Most Americans paid cash for basic services, and had insurance only for major illnesses and accidents. This meant both doctors and patients had an incentive to keep costs down, as the patient was directly responsible for payment, rather than an HMO or government program. The lesson is clear: when government and other third parties get involved, health care costs spiral. The answer is not a system of outright socialized medicine, but rather a system that encourages everyone – doctors, hospitals, patients, and drug companies – to keep costs down. As long as “somebody else” is paying the bill, the bill will be too high.”
You can bet that Lyndon B. Johnson and Democrats in Congress assured the American public in 1965 that Medicare and Medicaid would save money. I doubt they would have been able to pass the bill if they had told Americans that it would result in a $100 trillion unfunded liability and would be racked with fraud, mismanagement and would drive healthcare costs dramatically higher. Obama, Pelosi, and Reid are lying to Americans again. Costs will rise dramatically and service levels will deteriorate. Within five years, Democrats will be calling for a Value Added Tax of 10% to 20% in order to cover the “unexpected” cost overruns in the new plan. More government control, less choice, less freedom, less liberty, and a country closer to bankruptcy will be the outcome.
Americans have chosen to surrender their freedom and liberty for safety and security. We’ve decided it is too much work to support freedom. We have allowed our government to be overrun by the military industrial complex, the financial industrial complex and the healthcare industrial complex. The safety and security we think we have is an illusion. We have neither. These deals with the devil will lead to the economic collapse of our Republic. At that time, we will have the opportunity as described by our forefathers, to abolish this government and start anew. Until that time we are destined to lose more freedom and undergo a long period of crisis and misery. It was our choice.
“Socialism is a philosophy of failure, the creed of ignorance, and the gospel
of envy, its inherent virtue is the equal sharing of misery.” Winston Churchill
Thanks, I might be in danger of becoming a good man as well.
You impressed Sonic with your trite and inane understanding of Nietzsche. Well done.
Gomp says…In the end, what we do for ourselves, goes to the grave with us. What we do for others, keeps us alive long after we are gone.
You pity Nietzsche? Nietzsche said that pity was a virtue of the common man.
“In a Populist America, social issues will be decided by you, your family and your neighbors.” Ha, you obviously don’t live in a neighborhood with a homeowner’s association.
“In a Populist America, the government will mind its own business. It will make no enemies abroad, and it will rely on a strong defense for peace; rather than trying to rule the world with a strong offense.” Who pays for the strong defense?
Are there speed limits in Populist America? I would guess no, help me out.
Let me leave you with this…“The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.” Winston Churchill
Yes, One of my favorites was Lt. Col. "Bo" Gritz
"You pity Nietzsche? Nietzsche said that pity was a virtue of the common man."
Why would I pity a Man who willfully spent his life as a lap dog to his "benefactors". I was joyfully refering to all good people who put others before themselves, Mother Theresa would be a good example.
“In a Populist America, social issues will be decided by you, your family and your neighbors.” Ha, you obviously don’t live in a neighborhood with a homeowner’s association."
I thought you might have figured that out, shooting coyotes at 1000 yards, raising my own animals and food, I couldn't tolerate neighborhoods with a homeowner’s association. I have always wondered what government has really done for me.
“In a Populist America, the government will mind its own business. It will make no enemies abroad, and it will rely on a strong defense for peace; rather than trying to rule the world with a strong offense.” Who pays for the strong defense?"
We would, but it would be cheaper than funding, training, equiping, and paying our enemies, only to pay to fight them later on.
Your homeowner association may fall to invading hordes, unless you can bore them to death with Nietzsche. But invading the country, I know many who would call that fun... As I said Gobias, you are way left of me. We laugh about homeowner associations.
"Are there speed limits in Populist America? I would guess no, help me out."
There would probably have to be, only because most can't drive. Though I did enjoy driving in Montana.
You would know more if you did not vote a party ticket...
Let me amend that to;
Your homeowner association may fall to invading hordes, unless you can bore them to death with Nietzsche. But invading hordes, invading the country, I know many who would call that duck shoot fun... As I said Gobias, you are way left of me. We laugh about homeowner associations.
“In a Populist America, social issues will be decided by you, your family and your neighbors.”
Works for the Amish...
I am now going to go and ride the mule down to the neighbors, if the homeowners association would approve...
Keep going, guys. I am enjoying this immensely.
I hope the homeowners association don't find out...
We could have been off the fiat currency years ago, but the sheeple line up for the party ticket.
When did homeowner associations become right wing?