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Crony Capitalism

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• William Tinnerman

These statements might paraphrase the source of a serious candidate's dilemma who threatens the U.S. political banking establishment. Four of the five Presidents that opposed the Central Bankers were assassinated and Andrew Jackson luckily survived

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• arclein

President Chávez has a tumor in the pelvis called sarcoma,” said Dr. Salvador Navarrete, during a lengthy interview published Sunday in Mexican newspaperMilenio Semanal. He added: “The information I have from the family is that he has a sarcoma, an a

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• The PPJ Gazette

Ok! We’ve gone from blue to red. What an event! Why! It is positively historic! It’s a mandate! A landslide! A big steaming crock of BS the likes of which we will probably never see again….at least until 2012. What is it all you sheeple out there

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• The PPJ Gazette

The debt created by usury based sovereign debt is perpetual; it can never be paid off. The contract cannot be culminated. Any contract that cannot be culminated is an act of fraud. A contract based upon fraud is invalid from its inception. It would a

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• CameraFRAUD

…And they would have gotten away with it too, if it wasn’t for those meddling... laws. Of course, Breaking the law while pretending to enforce it (for profit) is business as usual for American Traffic Solutions. The headlines say it all. Miami Herald: “Legal challenges mount for Florida’s red-light cameras.” Daytona Beach News-Journal: “Red-light camera lawsuit looms.” Naples News: “[Suit claims] red-light cameras are unconstitutional.”

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• bNet

Talk about the best interview since “Frost-Nixon.” How about Blodget-Spitzer? Henry Blodget interviewed former New York Attorney General and Gov. Eliot Spitzer, who ran Blodget out of Wall Street. Both are bloggers/columnists, both have suffered disgrace and both are looking for redemption. And wonder of wonders, during the interview Spitzer was in agreement with yet another of his former targets, the peripatetic Hank Greenberg. The former CEO of American International Group is another in a long line of bosses who lost their jobs to Spitzer’s tough investigative tactics. Spitzer probably wouldn’t want to admit that he essentially repeated what Greenberg said last December, and which BNET Finance ran: that the real villain in the AIG bailout wasn’t Greenberg or Spitzer; it was Goldman Sachs, the investment bank whose tentacles reached into the highest levels of government.

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• CameraFRAUD

Beleaguered photo radar and red light camera provider Redflex Traffc Solutions was dealt a blow last week when a Superior Court judge in Orange County, CA. found their contract with the City of Santa Ana to be illegal: "…Orange County Superior Court Commissioner Kenneth Schwartz declared the city’s program void because it had ignored several provisions of state law."

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• Forbes

lol I doubt it is "misguided" I believe he knows full well how to spin the propaganda! A group known as ShareOwners.org, which supports such "say on pay" legislation finds that most of the investing public wants such provisions. The group says that after conducting a national survey it found that 83% of U.S. investors feel that shareholders should be permitted active involvement in CEO pay. With such strong backing behind it you would expect top execs to be quaking in their loafers. But they're probably not, and there's one big reason why: The legislation is non-binding, and in no way can it ever overrule what a firm's board decides to actually pay its executives. So, in effect, we have, once again, a great amount of sound and fury--and Barney Frank is among the most furious--amounting to very little.

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• WSJ

Makes sense with all those Government give aways of your tax dollars with the residents "AIG Breakup Is Fee Bonanza" Wall Street banks and lawyers could collect nearly $1 billion in fees from the Federal Reserve Bank of New York and American International Group Inc. to help manage and break apart the insurer, according to a Wall Street Journal analysis. That would represent one of Wall Street's biggest paydays -- four times the fees paid to break up AT&T Corp. in 1996, and nearly double those paid for Visa USA's 2008 initial public offering, the largest U.S. IPO ever. They know they will make a killing off of YOU! The stock maket edged lower on Thursday but some major financial names remained as bright spots, limiting the declines in major indexes. American International Group, whose shares surged 60% Wednesday, was up by another 11.8%.

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• Market Watch

I will believe it when I see it... Sen. Charles Schumer, D-N.Y., said Tuesday that the Securities and Exchange Commission plans to ban so-called "flash trading," where high-frequency traders can get information just before it becomes public. "We salute the SEC for moving forward with this ban that will restore integrity to the markets. The agency is absolutely making the right call by stepping up and ending this unfair practice," Schumer said. Flash orders are trades that flash in milliseconds to only a select group of market participants which can disadvantage other investors. Traders with access to the information because of super-fast computers can act on it quickly to trade ahead of other traders, influencing the pricing of stocks.

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• Goldman Sachs 666

In this recent article, Some U.S. bank pay "unmoored" from performance: Cuomo By Grant McCool of Reuters, Jul 30, 2009 7:22pm the reporter makes the comment, ..."bonuses for Goldman Sachs Group Inc, Morgan Stanley and JPMorgan Chase & Co were "substantially greater" than the banks' net income." Goldman earned $2.3 billion, paid out $4.8 billion in bonuses and received $10 billion in TARP funding,... How is it any company can pay out more in bonuses then they earn? One way is to use taxpayer money. New York's AG, Cuomo is on the right path in this investigation but the outcome of his efforts are yet to be seen or heard. But Goldman Sachs is not alone in this. Yet it is very possible from reading Michael Lewis' book "Liars Poker" that they may have invented the concept of overpaying people and then found ways to justify it which in turn they possibly shared with the others in their "club". Is it a coincidence that Pa

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• Market Watch

Call it another sign that fear is out, greed is back, and we have entered the new post-crisis era. Subprime Stan is back on Wall Street, after less than three years away. Stanford "Stan" Kurland, the Countrywide Finance executive who pocketed more than $140 million at the expense of outside investors at the height of the subprime mania, has raised about $300 million from fresh investors for his latest venture -- trying to profit from the crisis. His PennyMac Mortgage Investment Trust (PMT) made its stock-market debut last week The name of the game: Distressed mortgages, particularly the kind of troubled subprime loans that Countrywide used to make.

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• WSJ

I guess this kind of behavior it is to be expected from the do as I say not what I do no class trash in government. Smoke and mirrors anyway since the so called regulations of Obama's Economic Regulations Are Like a Law Which Makes Arson Illegal, But Exempts Convicted Arsonists. Treasury Secretary Timothy Geithner blasted top U.S. financial regulators in an expletive-laced critique last Friday as frustration grows over the Obama administration's faltering plan to overhaul U.S. financial regulation, according to people familiar with the meeting. The proposed regulatory revamp is one of President Barack Obama's top domestic priorities. But since it was unveiled in June, the plan has been criticized by the financial-services industry, as well as by financial regulators wary of encroachment on their turf.

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• The Business Insider

Goldman Sachs' reputation among both the general public and financially sophisticated Americans has been damaged by the events of the past year. Meanwhile, Goldman shares look set to open around $165 today, over 300% off their lows from the crisis. If this reputational hit mattered, nobody bothered to tell paid-up Goldman Sachs shareholders. The report doesn't quantify the decline, but we can surmise that it's significant. Want another shocker? Barack Obama has received more from one source–Goldman Sachs $542,252.00–than McCain has from all of the companies combined. Who the hell is more beholden to lobbyists? And why does a junior Senator from Illinois rate this kind of dough? http://www.noquarterusa.net/blog/2008/09/21/baracks-wall-street-problem-is-now-americas/

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• Economic Policy Journal

Wall Street banks are reaping outsized profits by trading with the Federal Reserve, raising questions about whether the central bank is driving hard enough bargains in its dealings with private sector counterparties, officials and industry executives say. The Fed has emerged as one of Wall Street’s biggest customers during the financial crisis, buying massive amounts of securities to help stabilise the markets. In some cases, such as the market for mortgage-backed securities, the Fed buys more bonds than any other party. However, the Fed is not a typical market player. In the interests of transparency, it often announces its intention to buy particular securities in advance. A former Fed official said this strategy enables banks to sell these securities to the Fed at an inflated price.

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• Washington;s Blog

Obama's regulation of credit default swaps leave loopholes large enough to drive the biggest trucks through. Specifically, it forces over-the-counter credit default swap transactions to be traded through an exchange unless it is a non-standard cds. So all that the "financial innovators" who melted down the economy have to do is get a little creative in drafting their cds' - or just to tell regulators "oh no, that wasn't a standard contract", and they are excepted from the regulation. Similarly, the Obama administration has just passed a new set of regulations "getting tough" on the naked short selling of stocks, which independent economists say can manipulate stock prices and bring down otherwise healthy companies. But the regulation will exempt hedge funds, and allow them to continue hiding their shorts from regulators.

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• The War On You

Banks, take the blue pill. Public, please take the red pill. If I had to characterize the current economic environment, it would have to consist of two completely different sets of beliefs. On one hand, you have banks and Wall Street receiving massive bailouts from the U.S. Treasury and the Federal Reserve, bailouts of the magnitude that would gear up for a Great Depression and imply that the banking system of our country is insolvent. Then on the other hand, you have Wall Street and the crony banks trying to convince the public that this is a minor recession and all will be well in Q3 and Q4 of 2009. The problem of course is that this is not your typical recession yet the public is being led to believe that all is well while bailouts are being dolled out by the truckload to the wrong locations. The actions we are taking keeps in place the banking oligarchy and sacrifices the public under the guise that this is good medicine for the general economy. Nothing proves this point bet

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• Market Watch

Follow the Money! Goldman (Government Sachs) knows how to hold em and how to fold em! GE was nearly BROKE but with Govt. Sachs having huge interests in the bogus Crap and Tax and knowing that GE will make out $$$ well lookey here!

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• Buffalohair Gazette International

China’s premier diplomat Hillary Clinton *likened North Korea to a child in need of attention in yet another sugar coated response to China’s ally. In spite of the fact North Korea threatened nuclear war, aimed rockets at sovereign US soil and holds hostage two American girls she continues to pussy foot and coddles anything China. It is more than obvious she has a second agenda with China and has no business being secretary of anything. It should have been more than clear she was useless and failed dismally in Indonesia when she could not muster a meeting with the leadership of the Muslim people, her primary mission. Her statement pitting the concerns for human rights in Asia on the ignore list while placing economics above all else should have been a red flag. Her diplomatic failures far outweigh her usefulness yet the media continues to promote her and anything Obama. Facts are marred with endless lines of rhetoric and bold faced lies proving ‘Big Brother’ and double speak prevail

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• CameraFRAUD.com

The city of Pembroke Pines, FL. appears to have accidentally leaked financial information for the private automated ticketing company American Traffic Solutions. (If they aren't doing anything wrong, what do they have to worry about, right?)

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• By Stanislav Mishin, Pravda.Ru

It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.

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