Source: Huff Post

via Huff Post

Last week, over a pre-Christmas dinner, the two of us, along with political strategist Alexis McGill, filmmaker/author Eugene Jarecki, and Nick Penniman of the HuffPost Investigative Fund, began talking about the huge, growing chasm between the fortunes of Wall Street banks and Main Street banks, and started discussing what concrete steps individuals could take to help create a better financial system. Before long, the conversation turned practical, and with some help from friends in the world of bank analysis, a video and website were produced devoted to a simple idea: Move Your Money.


Threats to AIG: “We Will Get Your Children”

via NBC

The anger in the threats against AIG executives is palpable.aig_threats

Get the bonus, we will get your children,someone identified only as “Jacob the Killer” hauntingly writes in an e-mail.

His is one of dozens of threats against AIG and its employees that were obtained from Connecticut Attorney General Richard Blumenthal‘s office under a Freedom of Information Act request by NBC Connecticut. 

Surprisingly, some of those making the threats left their e-mail addresses and phone numbers – making the job of law enforcement officers easier.

Here are some of the highlights (or rather, low-lights).  We’ve cleaned up some of the nasty language, but you can use your imagination: Continue reading

[Op-Ed] Was the Bailout a Scam of Madoff Proportions?


via Global Research/Paul Craig Roberts

Professor Michael Hudson (Counter Punch, [editor: Global Research] March 18) is correct that the orchestrated  outrage over the $165 million AIG bonuses is a diversion from the thousand times greater theft from taxpayers of the approximately $200 billion “bailout” of AIG.  Nevertheless, it is a diversion that serves an important purpose.  It has taught an inattentive American public that the elites run the government in their own private interests.

Americans are angry that AIG executives are paying themselves millions of dollars in bonuses after having cost the taxpayers an exorbitant sum.  Senator Charles Grassley put a proper face on the anger when he suggested that the AIG executives “follow the Japanese example and resign or go commit suicide.”

Yet, Obama’s White House economist, Larry Summers, on whose watch as Treasury Secretary in the Clinton administration financial deregulation got out of control, invoked the “sanctity of contracts” in defense of the AIG bonuses.

But the Obama administration does not regard other contracts as sacred.  Specifically: labor unions had to agree to give-backs in order for the auto companies to obtain federal help;  CNN reports that “Veterans Affairs Secretary Eric Shinseki confirmed Tuesday [March 10] that the Obama administration is considering a controversial plan to make veterans pay for treatment of service-related injuries with private insurance”;  the Washington Post reports that the Obama team has set its sights on downsizing Social Security and Medicare.

According to the Post, Obama said that “it is impossible to separate the country’s financial ills from the long-term need to rein in health-care costs, stabilize Social Security and prevent the Medicare program from bankrupting the government.”

After Washington’s trillion dollar bank bailouts and trillion dollar gratuitous wars for the sake of the military industry’s profits and Israeli territorial expansion, there is no money for Social Security and Medicare. Continue reading

[video] Ron Paul talks AIG Bonuses on CNN American Morning

You see, I’m sorry but I f*cks with Ron Paul. Somehow I tend the believe his perspective on this disaster more than I do the puppet politician parroting the popular party line.  OK, the AIG bonuses were a travesty, but “Let’s Talk Money” like Nipsey Hussle. The Treasury just opened the floodgates and flooded the economy with a trillion dollars, out of thin air!  This infusion stands to do way more damage than the few million they are kicking back to AIG executives.   can you spell INFLATION?  The more pertinent question is where is the $800 BILLION they just threw at these institutions with no paper trail?  Somewhere in Gotham the Joker is laughing his ass off, but super envious of these “black” Crooks in “white” Castles.  Remember, only Crooks need BAILOUTS.  Do your homework, you are being ROBBED in plain sight by the same people you depend on protecting you from the jackers.

[video] Obama Speaks On AIG: “How Do They Justify This Outrage?”

In the wake of the online chatter the Obama Deception has caused, Wall Street via AIG turns around and continues to make mockery of the White House by doing as they please with taxpayer money. This is not what the President needs when it is becoming oh so obvious who really runs the show.  These crooks are responsible for the derivative market, a blow that hasn’t even been rendered yet and which promises to be the nail in the coffin.  Nonetheless here they are, awarding themselves for a job well done.  If Madoff goes to the pokey, why do they retain their freedom and walk away with bonuses? And honestly I don’t feel like Obama is being sincere in this clip.

via HuffPost

WASHINGTON – President Barack Obama declared Monday that insurance giant American International Group is in financial straits because of “recklessness and greed” and said he intends to stop it from paying out millions in executive bonuses.

“It’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay,” Obama said at the outset of an appearance to announce help for small businesses hurt by the deep recession.

“How do they justify this outrage to the taxpayers who are keeping the company afloat,” the president said.

Obama spoke out in the wake of reports that surfaced over the weekend saying that financially strapped American International Group Inc. was paying substantial bonuses to executives.

Noting that AIG has “received substantial sums” of federal aid from the federal government, Obama said he has asked Treasury Secretary Timothy Geithner “to use that leverage and pursue every legal avenue to block these bonuses and make the American taxpayers whole.” Continue reading

Lawsuit Claims US Lacks Constitutional Authority for Loan

via WTP

On the day following the 221st anniversary of the signing of the U.S. Constitution, WTP Chairman and constitutional activist Robert Schulz today filed a federal lawsuit in United States District Court in Albany seeking to halt the execution of the emergency bailout of American International Group, Inc. (AIG) by the United States Government and the Federal Reserve.

The lawsuit asserts that the commitment of public funds and credit for the direct benefit of privately owned AIG is an ultra vires action by the United States Government and Federal Reserve, i.e., beyond the limited legal authority granted by the Constitution. The lawsuit asks for a “show cause” hearing demanding that the Government produce evidence of its legal authority to commit public funds for such a purpose, as well as emergency and permanent injunctions halting the bailout transaction.

Beyond the Constitutional deficiencies, the bailout establishes a dangerous precedent enabling the Fed and/or Government to nationalize virtually any business or property within the United States without legal authority or congressional approval. Continue reading