Cody Willard: The Day Our Nation Died (Clip)

Willard Attacks the Democrat-Republican Machine

FBN's Cody Willard appropriately loses his mind and declares that Capitalism has died and Fascism prevails.  You will hear quickly that this is not a single shot at Obama, rather an attack on the Bush-Paulson-Obama-Geithner Doctrine of bailing out friends and allowing one's enemies to wither (witness Lehman).  Willard has been consistent with his bi-partisan blame and antipathy, and he skewers both Republicans and Democrats in this clip, which we endorse and have been doing ourselves since the day we launched The Daily Bail.

It's short and comical though Willard wasn't laughing.  Submit your questions for an interview I'm doing with Cody later this week.  The topic is wide open so offer up some thoughts and I'll work them into the mix.

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Ratigan: Who's To Blame For The Housing Bubble? (Video)

This clip is another excellent discussion from last week.  Skip Contessa Brewer and start after the 2 minute mark.  Ratigan starts to hit his groove in the 2nd half:

"A fraudulent flow of money perpetrated by hollow credit insurance that then jacks a mature asset's price up only to leave construction workers stuck in the street and a bunch of bankers with a few billion dollars."

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Wall Street Prison Coach Has Some Advice For Madoff (Ratigan Clip)

Larry Levine of Wall Street Prison Consultants discusses Bernie Madoff, and what he might face in prison.  It's actually a serious discussion with some interesting commentary from Levine, though given the context I couldn't help laughing through most of it.

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Lemonides: Regional Banks Were Decimated By The Non-Bailout Of Fannie & Freddie Preferreds (Video)

As long as we're discussing Phoney & Fraudie this morning, I'm adding this clip of Charles Lemonides from TechTicker.  Lemonides' thesis is the bailouts of the mortgage giants were important and necessary, and that the decision not to stand behind the preferred shares of both firms worsened the banking crisis. 

I agree but I have little sympathy.

1. We had no choice but to honor the debt of both GSEs.  China and Japan gave us no other option, and we need them to continue funding our never-ending profligacy. 
2. The regional banks loaded down with Fannie & Freddie preferred shares deserve their fate.  It's fitting punishment for their lack of investment stewardship.  These shares should have been jettisoned from their portfolios the day after Bear Stearns failed (and really much sooner had they been paying attention.).  Stupid should not be an acceptable excuse.

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Max Keiser Says Hank Paulson Has Become The Augusto Pinochet Of Modern Capitalism (Goldman Sachs Criminal Comedy)

Max Keiser says Hank Paulson has become the Augusto Pinochet of modern capitalism and that Goldman should be dragged in front of the World Court to answer charges of Human Rights Abuse.  Despite his penchant for hyperbole, Keiser is freaking hilarious.  You will enjoy this.

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Housing Market's False Hope With Robert Shiller (CNN Clip)

A quick update from housing guru Robert Shiller: no bounce in sight, further declines ahead.

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Bailouts Of Phoney & Fraudie Will Eventually Cost Taxpayers $200 Billion Per Firm

Chris Isidore from CNN Money published a well-researched update on the bailout black holes of Fannie & Freddie last week, and the outlook for taxpayers is not especially positive.  Mortgage analyst for KBW, Bose George, estimates that by the end of 2010, the bailout tally could hit the $200 billion mark for each of the mortgage giants.

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July Update From Elizabeth Warren & The Congressional Oversight Panel (TARP Repayment & Warrant Repurchase)

This month's update from site favorite, Elizabeth Warren, top COP of TARP.

Elizabeth Warren archive

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Eliot Spitzer: "The Federal Reserve Is A Ponzi Scheme" - Inside The Fed's Secret Pile Of TRASH Assets

Extremely important clip.  Please share it anywhere and everywhere across the net.  Our only hope to stop the heist will come from greater awareness.

Special request from the publisher of The Daily Bail.  I am asking each and every one of you to send this video to 2 people.  This is a rare instance in life where just 60 seconds of your time can help change the course of history in the fight against the Fed.  Either we win, or Wall Street wins.  It's that simple.  PLEASE click here to pass it on to the next person.  That's all I politely ask.  

Thank you so much!

The Federal Reserve is a Ponzi Scheme

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Thursday Afternoon Links (15 Stories July 23, 2009)

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Kanjorski Asks Paulson To Describe His Greatest Fears From The Financial Meltdown (Congressional Clip)

(More from Hank Paulson's Congressional testimony last week.)

The following exchange is extremely important, especially considering this background of Kanjorski on C-Span discussing the closed-door Congressional meetings where Paulson made threats of chaos and Martial Law if the bank bailout (TARP) were not passed.

Rep. Kanjorski: "Please describe the meltdown.  I'm hoping that you may remember whether questions of law and order were asked.  Whether questions of the capacity to feed the American people, and for what period of time, were asked?  I'm not going to say what I remember the answers to be."

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President Obama Discusses Goldman Sachs, Wall Street Compensation & Financial Regulation (PBS Jim Lehrer Video 7-20)

The first 13 minutes are a discussion of Obama's health care proposal.  Honestly, I skipped it.

Wait for the video to finish streaming, and then you can fast-forward it.  While discussing Wall Street pay and bonus structure, the Prez says that once-failed banks "feel no remorse", and have done little to alter the compensation culture which helped create the crisis.  Excellent discussion.

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Complete Congressional Testimony From SIGTARP Neil Barofsky

I did not watch the entire 2 hours of video.  I don't know if anyone else will either.  If you're a glutton for details and oversight, by all means, get to watching.  There is some excellent testimony and discussion of TARP and transparency, including criminal investigations.

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CNBC's Melissa Francis Might Be Overstating Her Intelligence (Video)

No way in Pamplona I could watch this entire clip.  Not because of any chip I have with Francis; I actually think she does a decent job.  Not spectacular intelligence or delivery, but she's tolerable.  Honestly, I don't watch her enough to have an opinion.  The discussion is the financial news biz and CNBC, and I just listened to random sections.  I heard her mention that she was smart, or wanted to be smart, or wanted a dumb poolboy co-host (12:50 mark).

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