April 24, 2010
A Big Nasty Financial Mess
~ “LETTERS FROM AMERICA” - by The Metaphysical Peregrine ~
For decades the Democrats and their propagandists in the Main Stream Media, have repeated the lie that the Republicans are the party of big business, and they are the party of the people. (Inconvenient fact: for the past several election cycles, most political contributions to the Republicans have been from small donors, regular folk, and the Dems have reaped $millions from corporations.) This week Obama and the Dems launched legal proceedings against financial giant Goldman Sachs and are introducing legislation for the government to take over the financial sector of the US economy.
The term being bantered about is “crony capitalism” because what the Dems are doing is finalizing the cozy relationship between government and the financial market. As far as I can tell, this is how it works.
The US government (specifically Obama and the Dems) have, in a little over a year, run up a couple $trillions more in debt. The government borrows money from the banks to pay the debt. But the banks were in a lot of trouble, so the government borrowed a lot of money from the banks (the government remember doesn’t have any money) to bail out the banks because “they are too big to fail”. So the banks that have lost $billions are bailed out by the money they loaned to the government, who bails out the banks that lost $billions. Got that?
As part of Obama’s move to take over the financial sector, he’s decided to make an example of Goldman Sachs, arguably the most powerful and richest of financial institutions. Thing is, Obama and his administration are Goldman Sachs people. The play is just a ploy. They all have this planed out, and ultimately Goldman Sachs will be a huge beneficiary of government largess. This will pretty much solidify the relationship.
Let’s start with the $994,795 in Goldman Sachs campaign cash the Obama bagged for the last election. Corporations can’t directly give money, so they get their people pony up indirectly. Question to Obama, if Goldman Sachs is so evil and corrupt, shouldn’t you return the money? (Previously the Dems demanded that any money the Republicans got from Goldman Sachs be returned.) It’s tainted. Then there are the people in his administration. Goldman Sachs partner Gary Gensler is Obama’s Commodity Futures Trading Commission head. White House Chief of Staff Rahm Emanuel was on a $3,000 monthly retainer from Goldman Sachs while he worked as Clinton’s chief fundraiser, plus he received about $80,000 in cash from Goldman Sachs during his four terms in Congress. Former Goldman Sachs lobbyist Mark Patterson serves under Treasury Secretary Tim Geithner as his top deputy and dispenser of the TARP bailout — $10 billion of it to Goldman Sachs. Penny Pritzker was head of Superior Bank of Chicago, a major lender of subprime loans, got into a lot of legal trouble, so hired a lawyer Tom Donilon, who is now Obama’s deputy national security adviser. Donilon made about $4 million representing badly run banks that lost millions, including Goldman Sachs. White House National Economic Council head Larry Summers has ties to Goldman Sachs. He’s buddies with former Secretary of the Treasury Robert Rubin, and has worked for Rubin.
Just before the civil suit was launched, Obama did an interview on the cable business news channel CNBC, and was asked if there had been any recent contact between him and Goldman Sachs about the pending law suit. Obama said, nope, first he heard of it was right there on CNBC. We shouldn’t be surprised, since Obama lies about everything, that White visitor logs show that Goldman Sachs Chief Executive Lloyd Blankfein had visited the White House four times in the past few months.
This is such a mess, and so confusing. If financial institutions aren’t politically correct, and obedient, they will be crushed by the Dems and Obama administration. Goldman Sachs will have to keep their coffers open to Obama, as will any other financial group, or they will be crushed. Be a capitalist crony or else…
Confused yet? We are. We just know that the Dems and Obama, after taking over the health care and health insurance industries, much of the auto industry, of the student loan industry for higher education, crushed the energy industry, opened the border to illegal immigrants, provides more civil rights to terrorists than citizens, is well on his way to turning America into Amerika, a fascist State. The November elections can't get here fast enough.