It all seems like a big money grab before the current administration departs...
tlsintx
· 1 year ago
let these bloodsucking financial giants fall. they are the root of the problem.
vkobaya
· 1 year ago
No Krugman is right. We cannot afford to let these monsters fail. But this isn't saving them. There is no accountability and these CEOs all are as crooked as Bush. Those trillions of dollars being dumped into their pockets without any accountability are a perfect opportunity. What would you do it you were corrupt and crooked to the core and were given this opportunity.
Why no accountability? Because they bothered to spend a few million dollars in Congress buying off two other crooks, Pelosi and Reid.
If we saved the mortgage holders from foreclosure, it would have been an effective bailout and at the same time ended the problem. This bullshit about the morality problem, that is the homeowners would game the system, is just a parcel of crap. Okay for the CEOs to game the system for trillions of dollars but can't let these little stinking, reeking, dirty, thieving, common people get away with anything. Other than that most of them did not intend to get in over their heads. Now is coming out that many prime borrowers are also losing their homes to foreclosure. And those subprime, ballooning loans were unfair in that no one could have afforded those payments and the banks tricked many Blacks and Hispanics who actually had decent salaries and credit into those subprime loans.
tbhull
· 1 year ago
In the long run we must allow them to fail.
tbhull
· 1 year ago
Any chance foreign interests demand that these failures be kept afloat?
Older_Wiser
· 1 year ago
Paulson: $600B more to buy up "toxic mortgage assets" and $200B more for consumer credit markets (that's only a start).
Where the hell is this money coming from?
Yes, I always knew George Bush and his cronies would bankrupt the US govt before they left.
This is more serious than people think...we are going to end up drowning in debt used to enrich the few.
tbhull
· 1 year ago
Why can't we just call theft theft? Paulson/BushCo are perpetrating another grand theft of trillions before our eyes. This is not the first time BushCo has looted the Treasury for untold billions to pay off cronies consisting of the likes of Haliburtion, Blackwater, KBR and certain military higher ups, remeber Iraq?
I would not be surprised to see Paulson's upside down corpse hanging by his ankles and the buzzards munching on his carrion at Treasury's doorsteps at some point in the future in true Mussolini fashion.
Why no opposition, well they get a look the other way fee as part of the deal. One party two faces, same results. DC will fall.
vkobaya
· 1 year ago
Gasoline prices are still falling, dropped another 3 cents yesterday. Lowest price in the country was in St. Louis, $1.61 a gallon. My guess is that the petroleum companies are murderously upset with Bush and Cheney. If they don't hop on Air Force One and take off for Paraguay on January 20th, 2009, even before Obama is inaugurated, we will see Bush and Cheney's corpses hanging by their necks courtesy of Chevron, Texico, Exxon, BP-Shell, etc.
Eric
· 1 year ago
Gas is down because the dollar is up. This is temporary. In the long run gas will go way up in dollar terms. Compared to gold it'll hold steady.
Indigo
· 1 year ago
We should take names now and watch where these names are within six weeks after the inauguration. They won't be staying around for the solution, their theift is their personal solution. The next question is, Where will they go?
dula
· 1 year ago
Obama seems only willing to rearrange the deck chairs on the Titanic. I'm sure Larry Summers will get his very own lifeboat.
horus
· 1 year ago
one more theft from the american people, so BushCo buddies can live the high life while the D's try to clean up the mess
Older_Wiser
· 1 year ago
We know what BushCo has done; and I'm just afraid there is not much Obama & Co can do either, at least not within the next 10 years.
That 900 pt rise when Obama announced his economic advisors is just going to be part of the collapse of the market soon. It's just too damn late, because everyone in the Bush regime and on Wall St. has been lying their asses off.
I feel it in my bones...
vkobaya
· 1 year ago
everyone in the Bush regime and on Wall St. has been lying their asses off.
You forgot also stealing, embezzling, lining their pockets, etc.
Dave of the Jungle
· 1 year ago
George W Bush does not work for America.
Reason0Politics1
· 1 year ago
as has been stated, Obama has already shown his true colors; he sadly is compromised. He represents the same people W does.
get ready kids. within 6 months, the US will begin to default on its debt. there will be either a revalued currency, or a completely new one.
Once again, economies are fixed, even if it were possible, by helping consumers, not the criminals at the top, as ALL of the bailouts have done, and will continue to do. The economy is driven by consumer demand, not managed from the top.
Ive said this all along. The last 1+ year of meltdown was managed on purpose; not by W, but by the global controlling elite. Obama is managed by those same people. What we are witnessing is centralization leading to Monopolization. Slavery folks. We will all work for the company store, more so than we do already. Lower the US standard to equal the small uplifting of the rest around the world, all managed by shadow, centralized government.
EVERYTHING we have known IS changing. Permenantly. USA #1? Thats toast.
tbhull
· 1 year ago
And your solution is accept this? If no, then what?
Reason0Politics1
· 1 year ago
well, tbhull, the first thing that has to happen if we are to ever actually stop this madness is to dissolve the Federal Reserve System. fat chance of that happening, but the damn thing is corrupt from its very base. completely. A privately owned monetary controller that makes profit on usurious interest rates, based on money it loans THAT DOES NOT EXIST until they make the loan. Its insane. they make real interest ( tangible assets) from loaning "money" they DO NOT HAVE. Its completely BS.
Why people refuse to learn the truth about this corrupt criminal system is beyond me. Its not conspiracy theory, its freakin conspiracy fact. Its in the congressional record. Its FACT
yet people dont want to know the truth.
until we all learn about this terrible corruption, and become ready to act on THAT, NOTHING will ever change. Do I accept it? NO. can one man change it? no >,<
tbhull
· 1 year ago
In your mind what would it take to do what you presribe (i.e. dissolve the Federal Reserve)? What would follow?
Reason0Politics1
· 1 year ago
A Massive campaign to educate America would have to happen first. Remind people the some of this stuff doesn't actually require a Ph.D to understand. Seems most folk have zero interest, or believe it does. An informed Electorate is quite necessary.
As far as the solution? well.. thats a little more difficult. Maybe start with local currencies , or barter systems. I think the first principle that would have to be established would be transparency and accountability.
I think for International trade, something, be it precious metal, or some item that has actual value, would have to be used. Something that has the capacity, and limited quantity, to store value.
Of course, this would have to be built on a Government system that included people. the end of the political class. The House, as visioned by the founders, was made up of people like you and me. 2 years at a time, or maybe 4, but certainly not the 30 year stints we have today. Inclusion of all parties represented. An end to the managed 2 party system we have.
Eric
· 1 year ago
The solution is to allow the market to determine interest rates. No one has money right now so the interest rates should be very high. This will encourage people to save money in bank accounts so that banks will have money they can lend.
Secondly, the government shouldn't be allowed to print new money at will. Gold and silver should be allowed as legal tender. You do this by removing the capital gains tax from dollar increases in gold and silver.
Third, you slash as much spending from the US budget as possible. I'd start with the trillion dollars per year we blow on our foreign policy.
foxy
· 1 year ago
So did they all fly in with their corporate jet's to pick up a check?
EmGD
· 1 year ago
So Hank Paulson isn't a genius? I thought all the lurching, aimless wandering, no concrete plans, bailouts designed to protect companies not taxpayers, and all the points where he declared everything all right before things got worse, showed great insight. At least we still have two more months for him to bless us with his competence.
ALot about the whole bail out really pissed Me off but this is the final straw I am livid over this shit.Do you know that when they made this deal that by gauranteeing the toxic loans that citi already had 60 billion on its books so as soon as the ink hit the paper citi made a cool 60 billion no accounting no oversite no nothing they striped the treasury completely,the only hope I have is Obama will throw these bail outs right out the window and these bums will have to pay for there theft
EdNSted
· 1 year ago
So Timothy Giethner, the man Obama picked to become Secretary of Treasury, was a major architect of this Citigroup deal? Well, I guess that's change I can believe in. Or maybe not so much.
tbhull
· 1 year ago
Robert Rubin, a key Citi and Goldman player from the Clinton days, was looking over Obama's, Paulson's and Geithner's shoulder when the decision was made.
Anyone think Robert Rubin was objective and free of conflict? Any chance Rubin feels any remorse and will off himself? I doubt it because Rubin's concern for America is so deep and pure that he would not off himself in fear of straining the balance sheets of certain life insurance companies that issued policies insuring his life for several millions.
This is all a fucking joke of a theft.
bluestockton
· 1 year ago
Krugman's blog takes note of Boehner's latest call for a cut in the capital gains tax. The headline: "Here's the answer. What was the question?"
BorninUSA
· 1 year ago
So where does Obama go to get people not tainted by this economic mess? Anyone who has worked in the financial kingdom for the past 8-10 years is somehow linked.
The major blame goes to the Bush administration; we all knew by past tricks that Bush meant to bankrupt the country before he leaves office. Financially and morally. It was not a coincidence that this all happened just weeks before Obama takes office. Another reason Bush, et al should be prosecuted for their crimes. These are major crimes.
Bush decided to end his term by giving away trillions of dollars to Wall Street financial institutions which is why he insisted on no accountability. Of course, other reason is you can bet he isn't an altruist, substaintial amounts are finding its way into his pockets and overseas accounts, that which isn't blown on cocaine, heroin, opium, marijuana and other illicit drugs as well as booze.
SCLiberal
· 1 year ago
Will we eventually run out of money to give the super rich or will we just keep printing worthless bank notes?
tbhull
· 1 year ago
Yes no then yes
MaudGonne
· 1 year ago
Sadeq Sayeed, Nomura’s chief negotiator on the Lehman takeover and chief executive of the acquired business in the Emea region, described the appointment of Bizer as “yet another step forward” for the Japanese bank, which has been busy for the past month recruiting former Lehman Brothers staff that were not part of the businesses acquired, as well as sorting out its leadership for the enlarged business. Most recently, Nomura recruited an 18-strong former Lehman Brothers equities team in the US from Barclays Capital, the U.K. bank that acquired the Wall Street firm’s North American capital markets and investment banking operations in September. http://blogs.wsj.com/deals/2008/11/25/today-in-...
Change we can believe....
Gerald Celente
· 1 year ago
Gerald Celente, Editor and Publisher, The Trends Journal, Rhinebeck, New York:“All they are doing is throwing good money after bad. This is unprecedented. This isn’t the United States of America. It’s now the United Soviet States of America. They are buying banks, brokerages, insurance companies. We (U. S. government) now own the world’s largest insurance company! And mortgage companies. And they are doing it all with taxpayer money. So, anyone with a little common sense, Linda, could figure it out.
If the boys on Wall Street botched a deal before, what makes anyone think that the inept people in Washington are going to pull it off any better? They are not. What they (government bureaucrats) have better than the scammers on Wall Street is that they (government) has unlimited funds from the U. S. Treasury by taxing the people and taking all the money they want to do their deals. So, nothing good is going to come out of this. All they are doing is bailing out the preferred shareholders, the foreign banks that have loaned the money – all on the backs of the American people. This is a ‘Foetus Tax’ in the sense that generations are going to have to pay for this. This will do nothing, nothing! to stop the economic depression that is coming. All it will do is bailout the ‘too big to fail’ companies.
WHY DID THE DOLLAR GO UP DURING THE CHAOS?
Gold went down, the dollar went up. The markets are so highly manipulated. There are reports coming out of banks shorting gold positions by the hundreds of thousands trying to keep gold prices down. There are reports of people lining up in Europe and other countries to buy gold and cashing out.
Because when people realize that their paper is not worth the paper it’s printed on and people start going into gold, the whole system could collapse immediately. So, they are doing everything they can to prop the dollar up and to push gold prices down. They are propping the dollar up also, so that the people that are in dollars that want to get out have an opportunity, such as the Chinese and all the other foreign banks that are holding so much of the dollar debt.
WHO HAS THE ABILITY TO PROP UP THE U. S. DOLLAR?
The central banks because remember they are in control of the printing press. So you have coordination between the world central banks and the Federal Reserve and they are trading heavily into the markets to keep it going.
SO, THE CENTRAL BANKS MIGHT HAVE MORE EFFECT ON WHAT’S HAPPENING WITH THE DOW NOW THAN JUST NORMAL STOCK INVESTORS?
Absolutely! The game is rigged. It’s being rigged in broad daylight and we see it right in front of us.
Goldman Sachs has now taken over the White House with Henry Paulson in Treasury. When they had the A. I. G. bailout, the biggest financial insurance company in the world. They just got $85 billion and just asked for another $40 billion and we taxpayers just paid for a half million dollars worth of perks for their A.I.G. Commissars to go to the resorts like they used to do in the Soviet Union.
Do you know who the only person sitting in on that meeting was outside of the Treasury and the Federal Reserve? It was Blankfein from Goldman Sachs! It’s criminal activity from top to bottom.
Gerald Celente
· 1 year ago
“There will be a revolution in this country,” he said. “It’s not going to come yet, but it’s going to come down the line and we’re going to see a third party and this was the catalyst for it: the takeover of Washington, D. C., in broad daylight by Wall Street in this bloodless coup. And it will happen as conditions continue to worsen.” “The first thing to do is organize with tax revolts. That’s going to be the big one because people can’t afford to pay more school tax, property tax, any kind of tax. You’re going to start seeing those kinds of protests start to develop.” “It’s going to be very bleak. Very sad. And there is going to be a lot of homeless, the likes of which we have never seen before. Tent cities are already sprouting up around the country and we’re going to see many more.” “We’re going to start seeing huge areas of vacant real estate and squatters living in them as well. It’s going to be a picture the likes of which Americans are not going to be used to. It’s going to come as a shock and with it, there’s going to be a lot of crime. And the crime is going to be a lot worse than it was before because in the last 1929 Depression, people’s minds weren’t wrecked on all these modern drugs – over-the-counter drugs, or crystal meth or whatever it might be. So, you have a huge underclass of very desperate people with their minds chemically blown beyond anybody’s comprehension.”
All Comments
they are the root of the problem.
Why no accountability? Because they bothered to spend a few million dollars in Congress buying off two other crooks, Pelosi and Reid.
If we saved the mortgage holders from foreclosure, it would have been an effective bailout and at the same time ended the problem. This bullshit about the morality problem, that is the homeowners would game the system, is just a parcel of crap. Okay for the CEOs to game the system for trillions of dollars but can't let these little stinking, reeking, dirty, thieving, common people get away with anything. Other than that most of them did not intend to get in over their heads. Now is coming out that many prime borrowers are also losing their homes to foreclosure. And those subprime, ballooning loans were unfair in that no one could have afforded those payments and the banks tricked many Blacks and Hispanics who actually had decent salaries and credit into those subprime loans.
Where the hell is this money coming from?
Yes, I always knew George Bush and his cronies would bankrupt the US govt before they left.
This is more serious than people think...we are going to end up drowning in debt used to enrich the few.
I would not be surprised to see Paulson's upside down corpse hanging by his ankles and the buzzards munching on his carrion at Treasury's doorsteps at some point in the future in true Mussolini fashion.
Why no opposition, well they get a look the other way fee as part of the deal. One party two faces, same results. DC will fall.
That 900 pt rise when Obama announced his economic advisors is just going to be part of the collapse of the market soon. It's just too damn late, because everyone in the Bush regime and on Wall St. has been lying their asses off.
I feel it in my bones...
You forgot also stealing, embezzling, lining their pockets, etc.
no change. more of the same.
http://www.moneyandmarkets.com/warning-global-b...
get ready kids. within 6 months, the US will begin to default on its debt. there will be either a revalued currency, or a completely new one.
Once again, economies are fixed, even if it were possible, by helping consumers, not the criminals at the top, as ALL of the bailouts have done, and will continue to do. The economy is driven by consumer demand, not managed from the top.
Ive said this all along. The last 1+ year of meltdown was managed on purpose; not by W, but by the global controlling elite. Obama is managed by those same people. What we are witnessing is centralization leading to Monopolization. Slavery folks. We will all work for the company store, more so than we do already. Lower the US standard to equal the small uplifting of the rest around the world, all managed by shadow, centralized government.
EVERYTHING we have known IS changing. Permenantly. USA #1? Thats toast.
Why people refuse to learn the truth about this corrupt criminal system is beyond me. Its not conspiracy theory, its freakin conspiracy fact. Its in the congressional record. Its FACT
yet people dont want to know the truth.
until we all learn about this terrible corruption, and become ready to act on THAT, NOTHING will ever change. Do I accept it? NO. can one man change it? no >,<
As far as the solution? well.. thats a little more difficult. Maybe start with local currencies , or barter systems. I think the first principle that would have to be established would be transparency and accountability.
I think for International trade, something, be it precious metal, or some item that has actual value, would have to be used. Something that has the capacity, and limited quantity, to store value.
Of course, this would have to be built on a Government system that included people. the end of the political class. The House, as visioned by the founders, was made up of people like you and me. 2 years at a time, or maybe 4, but certainly not the 30 year stints we have today. Inclusion of all parties represented. An end to the managed 2 party system we have.
Secondly, the government shouldn't be allowed to print new money at will. Gold and silver should be allowed as legal tender. You do this by removing the capital gains tax from dollar increases in gold and silver.
Third, you slash as much spending from the US budget as possible. I'd start with the trillion dollars per year we blow on our foreign policy.
http://thesebastards.blogspot.com/
Anyone think Robert Rubin was objective and free of conflict? Any chance Rubin feels any remorse and will off himself? I doubt it because Rubin's concern for America is so deep and pure that he would not off himself in fear of straining the balance sheets of certain life insurance companies that issued policies insuring his life for several millions.
This is all a fucking joke of a theft.
The major blame goes to the Bush administration; we all knew by past tricks that Bush meant to bankrupt the country before he leaves office. Financially and morally. It was not a coincidence that this all happened just weeks before Obama takes office. Another reason Bush, et al should be prosecuted for their crimes. These are major crimes.
by Chris Whalen
Most recently, Nomura recruited an 18-strong former Lehman Brothers equities team in the US from Barclays Capital, the U.K. bank that acquired the Wall Street firm’s North American capital markets and investment banking operations in September.
http://blogs.wsj.com/deals/2008/11/25/today-in-...
Change we can believe....
If the boys on Wall Street botched a deal before, what makes anyone think that the inept people in Washington are going to pull it off any better? They are not. What they (government bureaucrats) have better than the scammers on Wall Street is that they (government) has unlimited funds from the U. S. Treasury by taxing the people and taking all the money they want to do their deals. So, nothing good is going to come out of this. All they are doing is bailing out the preferred shareholders, the foreign banks that have loaned the money – all on the backs of the American people. This is a ‘Foetus Tax’ in the sense that generations are going to have to pay for this. This will do nothing, nothing! to stop the economic depression that is coming. All it will do is bailout the ‘too big to fail’ companies.
WHY DID THE DOLLAR GO UP DURING THE CHAOS?
Gold went down, the dollar went up. The markets are so highly manipulated. There are reports coming out of banks shorting gold positions by the hundreds of thousands trying to keep gold prices down. There are reports of people lining up in Europe and other countries to buy gold and cashing out.
Because when people realize that their paper is not worth the paper it’s printed on and people start going into gold, the whole system could collapse immediately. So, they are doing everything they can to prop the dollar up and to push gold prices down. They are propping the dollar up also, so that the people that are in dollars that want to get out have an opportunity, such as the Chinese and all the other foreign banks that are holding so much of the dollar debt.
WHO HAS THE ABILITY TO PROP UP THE U. S. DOLLAR?
The central banks because remember they are in control of the printing press. So you have coordination between the world central banks and the Federal Reserve and they are trading heavily into the markets to keep it going.
SO, THE CENTRAL BANKS MIGHT HAVE MORE EFFECT ON WHAT’S HAPPENING WITH THE DOW NOW THAN JUST NORMAL STOCK INVESTORS?
Absolutely! The game is rigged. It’s being rigged in broad daylight and we see it right in front of us.
Goldman Sachs has now taken over the White House with Henry Paulson in Treasury. When they had the A. I. G. bailout, the biggest financial insurance company in the world. They just got $85 billion and just asked for another $40 billion and we taxpayers just paid for a half million dollars worth of perks for their A.I.G. Commissars to go to the resorts like they used to do in the Soviet Union.
Do you know who the only person sitting in on that meeting was outside of the Treasury and the Federal Reserve? It was Blankfein from Goldman Sachs! It’s criminal activity from top to bottom.