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Warren Buffett's $600 Million INTEREST-FREE Loan From Taxpayers & Many Other Ways The Government HOSES You To HELP The Insanely Rich!

David Cay Johnston, author and Pulitzer Prize winner

The problem starts with government subsidies, says Johnston. States are spending around $70 billion on government subsidies, he estimates. That doesn't include the hundreds of billions more doled out in federal subsidies.

"Is that capitalism?," he complains. "Go compete in a competitive arena. Don't go to Washington and say 'give me money' either by saying 'I don't have to pay taxes' or forcing other people to pay taxes that go to me. Go earn your money in the marketplace."

What's even more striking is that many of these unfair advantages are given to the biggest political contributors. The Wall Street bailouts are a perfect example.

"There's been a massive turnover of money to people who didn't have to face the consequences of the market," Johnston says. "Goldman Sachs got its bad bets paid off at 100 cents on the dollarI’ve never seen the government do that for me."


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Reader Comments (34)

Former Manchester United Footballer Ignites Banking Protest


Nov 21, 2010 at 2:23 PM | Registered CommenterDailyBail
WASHINGTON – Al-Qaida in the Arabian Peninsula is promising more small-scale attacks like its attempts to bomb two U.S.-bound cargo planes, which it likens to bleeding its enemy to death by a thousand cuts, in a special edition of the Yemeni-based group's English on-line magazine, Inspire.

The editors boast that what they call Operation Hemorrhage was cheap, and easy, using common items that together with shipping, cost only $4,200 to carry out.

Alerted to the late October bomb plot by Saudi intelligence, security officials chased the packages across five countries, trying frantically over the next two days to prevent an explosion that could have come at any moment. The pursuit showed that even when the world's counterterrorism systems work, preventing an attack is often a terrifyingly close ordeal.

The group says it's part of a new strategy to replace spectacular attacks in favor of smaller attacks to hit the U.S. economy, according to the special edition of the online magazine, made available by both Ben Venzke's IntelCenter, and the Site Intelligence Group.

"To bring down America we do not need to strike big," the editors write. With the "security phobia that is sweeping America, it is more feasible to stage smaller attacks that involve less players and less time to launch" thereby circuventing U.S. security, they conclude.

In the magazine, an author identified as the group's head of foreign operations says the package attacks were intended to cause economic harm, not casualties. "We knew that cargo planes are staffed by only a pilot and a co-pilot," the author writes, "so our objective was not to cause maximum casualties but to cause maximum losses to the American economy," by striking at the multi-billion dollar U.S. freight industry.

Nov 21, 2010 at 2:24 PM | Registered CommenterDailyBail
What's wrong now? Buffett was always drawn as the good guy.
Nov 21, 2010 at 6:28 PM | Unregistered CommenterHCG
The tide started turning against buffett in the past 18 months...there have been several questionable episodes all of which we have detailed...moody's stock sale with insie info on the SEC wells notice comes to mind...charlie munger and he both publicly supporting the bailouts...benefiting from tarp with his wells fargo investment and much more...
Nov 21, 2010 at 9:13 PM | Registered CommenterDailyBail
Currency wars and the Fed’s demise

Plans by the US Federal Reserve to buy up US$ 600 billion will lead to the dollar’s devaluation. The decision is one way to respond to China’s policy to keep the value of the yuan so low that it can colonise the world economy. US economic policy now appears directed at sacrificing the Federal Reserve in order to implement a world currency.

Nov 21, 2010 at 9:28 PM | Registered CommenterDailyBail
" US economic policy now appears directed at sacrificing the Federal Reserve in order to implement a world currency."

Create the problem to make what you wanted to do all along (the problem) more palatable.
Nov 21, 2010 at 10:53 PM | Unregistered CommenterS. Gompers
These superrich lecture to the rest of us that we're not paying enough taxes
Nov 21, 2010 at 10:55 PM | Unregistered Commenter4rc
600 Interest free loan from the government, that is criminal.
Nov 22, 2010 at 10:53 AM | Unregistered CommenterDUI Attorney
yes it is...and yet it happens all the time...
Nov 22, 2010 at 12:27 PM | Registered CommenterDailyBail
Here is a point to ponder. Bernie Madoff alone cost every human being on this planet $10.
Dec 1, 2010 at 5:09 PM | Unregistered Commenterjohn
Read my above post then this.

Dec 1, 2010 at 8:15 PM | Unregistered Commenterjohn
@john...i checked out both links...and...?...
Dec 2, 2010 at 12:43 AM | Registered CommenterDailyBail
Warren Buffett is a fat hypocrite, nothing more than a sneaky cheat. Hey Warren, why'd you dump all that MCO stock? That's it, hide behind your errand boy Charlie Munger.
Dec 2, 2010 at 2:25 PM | Unregistered CommenterCheyenne
Create the problem to make what you wanted to do all along (the problem) more palatable.

Yes, thats the Dem. way. If you have gas at $1.00, and you want it at $1.30, then raise it to $1.55 and 3 mo. later back it down to $1.30.
Dec 2, 2010 at 6:13 PM | Unregistered CommenterTexas Dar
Warren Buffett is a fat hypocrite, nothing more than a sneaky cheat. Hey Warren, why'd you dump all that MCO stock? That's it, hide behind your errand boy Charlie Munger.

@cheyenne...as you know, warren dumped moody's stock after getting an inside tip from the ceo of moody's on the Wells Notice from the SEC...that is some shady shit...but no investigation of uncle warren...fuck mary schapiro and the sec...
Dec 2, 2010 at 8:02 PM | Registered CommenterDailyBail
Dar, you need a snakebite chasing a Jaeger. Are you SERIOUSLY touting Republicans?
Dec 2, 2010 at 8:44 PM | Unregistered CommenterCheyenne

I know the score. Now Fox and Lira are coming up to speed. And it's an utterly insane thing to witness.

Fox in particular is indescribably out-of-this world.
Dec 2, 2010 at 8:52 PM | Unregistered CommenterCheyenne
Now Fox and Lira are coming up to speed. And it's an utterly insane thing to witness.

Fox in particular is indescribably out-of-this world.


i'm guessing they don't like what they're learning...
Dec 2, 2010 at 9:01 PM | Registered CommenterDailyBail
"Yes, thats the Dem. way. "

Actually the Republicans invented it, and Democrats have been playing catch up ever since. A prime example of that would be the attempted business coup in 33 to set up a Fascist regime in America as they had done in Germany and Italy.


And yet one of the prime movers and shakers of the business plot, Prescott Bush, who had his assets seized in 1942 under the Trading with the Enemy Act, has led more than 60 years later to a civil action for damages being brought in Germany against the Bush family by two former slave laborers at Auschwitz. Yet Prescott was rewarded for his crimes by being elected as a Senator, siring a President, and grand fathering another...


Further example of this today would be Tom Delay's "capitalism in a petri dish" shining example to freedom loving peoples of slave labor camps on Saipan, complete with eugenics (another great for the party of "God") programs in place to keep the slaves working kicking out slave labor products with the made in the U.S.A. labels attached.

In fact, American authorities have discovered many Chinese workers are forced to sign secret agreements, known as shadow contracts, before they leave China, severely and, in some ways, illegally restricting their activities while on American soil. For example, in this agreement translated into English by American authorities, workers are forbidden to participate in any religious or political activity or to ask for a salary increase or even to fall in love or get married, much as might be the case in mainland China.


They even have their own Congress Critter as a reward for their compliance to testing the programs of destroying freedom that they wish to bring one day to our shores wrapped in Chinese American flags, and Bibles still wrapped in plastic following the majestic elephant down the road to Abbadon.


If any of you truly believe the Republicrats are the path to freedom you will one day find yourself shackled in servitude in the bindings of your own making.

Any that disagree, better be prepared to defend the UN patriot act, Homeland insecurity act, Federal Reserve, Most favored Nation status, NAFTA, CAFTA, GATT, FTAA, borrowing our national debt, fiat currency, Agenda 21, as well as a slew of Executive orders already put in place in preparation of totalitarianism.

No one will be able to "defend" these facts based on party lies against the truth that both parties had a hand in implementing all of them in preparation of the final objectives.

Some of the links are a little long, but take time to read them, it is worth it. May God bless "Old Gimlet Eye", he was a Major General in the U.S. Marine Corps, and at the time of his death the most decorated Marine in U.S. history. During his 34-year career as a Marine, he participated in military actions in the Philippines, China, in Central America and the Caribbean during the Banana Wars, and France in World War I. By the end of his career he had received 16 medals, five of which were for heroism. He is one of 19 people to twice receive the Medal of Honor, one of three to be awarded both the Marine Corps Brevet Medal and the Medal of Honor, and the only person to be awarded the Brevet Medal and two Medals of Honor, all for separate actions.

Without him, we would not be speaking about Fascists today, you would have been living it the last 60 years.
Dec 2, 2010 at 10:42 PM | Unregistered CommenterS. Gompers
Oddly, they're both amused in a shoulda-figured kinda way. But they get it for sure.
Dec 2, 2010 at 10:47 PM | Unregistered CommenterCheyenne
Dec 3, 2010 at 12:21 AM | Registered CommenterDailyBail

gomp...thanks for posting this link...interesting stuff...
Dec 3, 2010 at 12:31 AM | Registered CommenterDailyBail
I have read the book "The Plot to Seize the White House" by Jules Archer. This book has achieved the "rare" book status. Rumor has it that copies are being bought up to erase its existence, ending its stain on reputations on rich families with embarrassing ancestry. One should also read:

The Pathological Pursuit of Profit and Power, by Joel Bakan , ISBN: 0743247442
Buried Unsung: Louis Tikas and the Ludlow Massacre, by Zeese Papanikolas, ISBN: 0803287275
The Great Coalfield War, by George S McGovern, ISBN: 0395136490
Remington Arms in American history, by Alden Hatch, ASIN: B0007DYPC4

These details are not important only to The Plot To Seize The White House, but central to unravelling the Hitler Project. Yet two more books are required to place everything in order:

Hitler's Secret Backers, by Sidney Warburg, ISBN: 0960035869
Wall Street and the Rise of Hitler, by Antony C. Sutton, ISBN: 0945001533

From these books a time line can be constructed:

1929 Wall Street interests send Hitler $10,000,000.
1931 Wall Street sends Hiltler another $15,000,000.
1933 Wall Street Sends Hitler a final $7,000,000. (total $32,000,000.)
1933 Wall Street puts up initial $3,000,000, backed by another reserve $15,000,000, for the Plot to Seize the White House. Up to $300,000,000 backing is promised.

The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance, by Ron Chernow, ISBN: 0802138292, reports that JP Morgan was Mussolini's banker for over $500,000,000 and heavily invested in fascist Japan by 1931. JP Morgan has over $3 BILLION invested in Germany by 1931. A Law Unto Itself: The Untold Story of the Law Firm of Sullivan and Cromwell, by Nancy Lisagor, Frank Ipsivs, ISBN: 0688048889, reports that John Foster Dulles and S&C law firm have $1.15 BILLION invested in Germany by 1931. Titan : The Life of John D. Rockefeller, Sr., by Ron Chernow, ISBN: 0679757031, reveals the Rockefeller "method" of business, including secret takeovers, bribed officials, blatant lawbreaking, industrial spying, and the philosophy "the weakest must die first".

You might also want to check out:

Trading with the enemy: An exposé of the Nazi-American money plot, 1933-1949, by Charles Higham, ISBN: 0440090644

American Dynasty: Aristocracy, Fortune, and the Politics of Deceit in the House of Bush, by Kevin Phillips, ISBN: 0670032646.

Yes, Wall Street was behind Hitler and Mussolini, without any doubt. Hell, even Henry Ford was honored for his service by awarding him the Grand Service Cross of the Supreme Order of the German Eagle.


Ford prospered immensely from the use of slave labor, as well as many other companies.


To the Corporatist dream, many Americans still love you, and continue to play your game...
Dec 3, 2010 at 1:15 AM | Unregistered CommenterS. Gompers
In the end, class solidarity carried the day for Roosevelt, after all, he was one of them. The Congressional committee cooperated by refusing to reveal the names of many of the key plotters.

 FDR made his peace with the conspirators, He did not prosecute them, as long as they signed on to his "New Deal".

Thus, fascist tendencies gestating deep within the culture of the U.S. ruling class were effectively left to develop unhindered by mass political mobilization.

Might this grisly episode have important implications for our understanding of the current political moment?

The implications of this unsettling piece of history for contemporary politics run deeper than many would like to think. There is the temptation to point triumphantly to George W. Bush’s commitment to the irrelevance of the Constitution, his corresponding contempt for hitherto taken-for-granted fundamental human rights, his Hobbesian notion of unbridled sovereignty, his militarized notion of political power - there is the temptation to regard these fascist elements as the most significant contemporary remnant of the 1934 conspiracy.

On October 17, 2006, Bush signed three Acts that instantly transformed the republic into a police state. The John Warner Defense Authorization Act (DAA) effectively repeals the 1878 Posse Comitatus Act which prohibits military operations directed against the American people. The DAA declares that “the president may employ the armed forces to restore public order and enforce the laws of the United States when…[among other reasons]… the President determines that domestic violence has occurred to such an extent thet the constituted authorities of the State or possession are incapable of (or “refuse” or “fail in”) maintaining public order --- in order to suppress, in any State, any insurrection, domestic violence, unlawful combination, or conspiracy.” 

 Nothing in this law clearly defines exactly what insurrection, domestic violence, unlawful combination, or conspiracy is. '"Maintaining public order", could this dastardly deed be used to "suppress" the people who are being extorted to pay for the criminal bankers crimes?

The Military Commissions Act permits the President, in order to “suppress public disorder”, to assign military troops anywhere in the United States in order to trump the authority of state-based National Guard units, and without the consent of the governor. 

Nothing clearly defines "suppress public disorder", how about anger over the bailouts of criminals, could this dastardly deed be used to "suppress" the people who are being extorted to pay for the criminal bankers crimes?

Finally, the National Defense Authorization Act allows the President to declare martial law, dispatch National Guard units around the country and authorize military action against the domestic population should His Majesty identify a “national emergency”. Could this dastardly deed be used to "suppress" the people who are being extorted to pay for the criminal bankers crimes?

Democrats, upon being apprised of these developments declared themselves shocked, shocked that Bush has “declared himself dictator”. Bush did not sign this legislation in a manner which expires when he passed from office. Every future President will have these powers. Will President Obama seek to erase these abominations? Don’t bet on it, power is power...

"WAR is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives. A racket is best described, I believe, as something that is not what it seems to the majority of the people. Only a small "inside" group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes.

I spent thirty- three years and four months in active military service as a member of this country's most agile military force, the Marine Corps. I served in all commissioned ranks from Second Lieutenant to Major-General. And during that period, I spent most of my time being a high class muscle- man for Big Business, for Wall Street and for the Bankers. In short, I was a racketeer, a gangster for capitalism."

- Major General Smedley Butler, USMC

Dec 3, 2010 at 7:54 AM | Unregistered CommenterS. Gompers
excellent post gomp...
Dec 3, 2010 at 1:32 PM | Registered CommenterDailyBail
Dar, you need a snakebite chasing a Jaeger. Are you SERIOUSLY touting Republicans?

Shit-No........im just useing the Demuspters becouse Barry is in the white haus. If "Baby Boots" the Repo-Party was in, then I would use them.

thAre all a bunch of "Shit-Heads"....................I could of used Gomps-&-Jake, but then they would of put gas @ $98. & Diesel @ $89. and that wouldent work right. The American People shouldent have it that good...........should they ?
Dec 4, 2010 at 9:21 PM | Unregistered CommenterTexas Dar
"Is that capitalism?," he complains. "Go compete in a competitive arena." says Johnston

Actually that is Capitalism in the United States.

Corporations do not believe in competition.
Feb 4, 2011 at 8:01 PM | Unregistered CommenterGarrett
Name one billionaire that's not a complete scumbag. You don't acquire that much wealth without being a scumbag and only a scumbag would retain that much wealth when there's so much need in the world. And don't say Bill Gates because he wants to eliminate malaria o some such bullshit, he's one of the worse of them all, polluting the world with his crap software.
Mar 21, 2011 at 2:32 PM | Unregistered Commenterj r
Who do I have to BLOW to get into THE BIG CLUB?
Jul 20, 2011 at 12:54 AM | Unregistered CommenterTR
wall street, raytheon, and lockheed martin for starters...
Jul 20, 2011 at 1:13 AM | Registered CommenterDailyBail
Revolution is the Solution!
Jul 20, 2011 at 5:55 PM | Unregistered CommenterArminius
Warren Buffett's Wells Fargo Busted For Lying To People, Wristslapped With $85 Million Fine By The Emperor Of Moral Hazard Himself

Jul 20, 2011 at 8:27 PM | Unregistered CommenterLiberatedCitizen
Thanks LC...saw that earlier...just another day in the Kleptocracy.
Jul 21, 2011 at 1:50 AM | Registered CommenterDailyBail

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