Our Advertisers Represent Some Of The Most Unique Products & Services On Earth!

Incompetence & Greed

Jim Kirwan

Arrogance Incompetence & Greed is the definition of AIG, and everything that so-called company supposedly stands for. This is a present-tense comment because this problem is not only still here, it's growing!
One day shy of just two months in office, the abject failures of the Obamanation coup are already becoming clear. Obama needs to be called back from his favorite occupation of 'master of the campaign trail' to fire Timothy Geithner, along with Ben Bernanke who is the fraudulent head of the Federal Reserve System; along with everyone else in his "cabinet" and the White House that are attempting to serve two masters.
"The collusion to save this toxic company [AIG] in order to salvage the rogue financiers who conspired to enrich themselves by impoverishing millions is being revealed as the greatest financial scandal in U.S. history. Instead of taking bonuses, the culprits should be taking perp walks.
I'm not just referring to the swindlers in the Financial Products Subsidiary of AIG who devised and sold those insurance policies on derivatives that brought the world economy to its knees. They do seem deserving of a special place in hell, and presumably the same divine power that according to Scripture labeled usury a high moral crime and threw the money-changers out of the temple will consider that outcome.
However, the enablers are the AIG leaders who, as New York Attorney General Andrew Cuomo revealed Tuesday, signed those bonus contracts a year ago to reward the very people "principally responsible for the firm's meltdown." That's a cool $44 million divided among the top 10 shysters, even though the depth of their chicanery was well known to top management.
But the $165 million in taxpayer funds used to reward them is but a sideshow in a far larger drama of moral decay swirling around the banking bailout. It should not distract from the many billions, not paltry millions, of our dollars being diverted to reward the very folks who brought us such misery. Consider the $12.8 billion of the $170 billion that taxpayers gave AIG in bailout funds that AIG then secretly diverted to Goldman Sachs, a company that evidently has a lock on both the Treasury Department and the Federal Reserve no matter which political party is in power. It was the biggest payoff among those that AIG made to a score of foreign and domestic financial giants.
The bailout is a response to a banking crisis that resulted from the radical deregulation pushed by former Goldman Sachs honcho Robert Rubin when he was President Clinton's treasury secretary. Another Goldman Sachs chairman-turned-treasury-secretary, Henry Paulson, in the Bush administration designed the trillion-dollar bank bailout that will go down as the greatest swindle in U.S. history.
It was because of Paulson that AIG was saved from bankruptcy hours after Goldman rival Lehman Brothers was allowed to go down the drain. Why that reversal of strategy in a top-secret meeting called by then New York Fed Chair Timothy Geithner, a Rubin protégé and now Barack Obama's treasury secretary? Why was Goldman's Lloyd Blankfein the only financial industry CEO in attendance? When that news leaked out, his role was defended as that of a noninvolved concerned citizen with expert knowledge, and whose firm had no direct monetary stake in the outcome.
That was a lie.
Goldman Sachs was into AIG insurance policies for at least $20 billion, which is why the firm got that $12.8 billion while Paulson was in charge. It took six months for the embarrassing facts to finally come out. The bailout program was administered by Neel Kashkari, a former Goldman Sachs VP; why are we not surprised at that?" (1)
This is only one of the most obvious failures. Since the beginning of these attempted public extortions, way back in September of last year, there have been at least three, if not more, of these massive wealth-transfers from the public to the Banksters inside this disease. "Saying that the recession continues to deepen, the Federal Reserve announced Wednesday that it would pump an extra $1.2 trillion into the mortgage market and longer-term Treasury securities in order to revive the economy. The idea was to encourage more economic activity by lowering interest rates, including those on home loans, and to help the financial system as it struggles under the crushing weight of bad loans and poor investments." (2)
They've already done this time after time, and always with the same stated goal of unclogging the "frozen credit markets." Yet nothing has moved as far as access to loans is concerned: Despite having now spent over 3 Trillion dollars of our money on this; yet the bonuses and the takeover's of other institutions, using the illicit bailout funds, continue unabated. The upshot of all these trillions that are being added to the national debt, behind the closed and ultra-private doors of the Federal Reserve have made the case for fraud and grand theft on a scale never contemplated by anyone before the New World Order began this campaign to break the world; in order to create their New World Bank as the only viable solution to the impending global meltdown.
A small footnote to all of this could be in this paragraph that leaked out of Iraq today.
"The Iraqi government has hinted at further concessions for international oil corporations operating in Iraq. On Wednesday, Iraq's oil minister told an OPEC gathering in Vienna that Iraq will consider granting foreign companies a share in oil production profits, rather than the current system of receiving fixed fees. Earlier this year, Iraq raised the amount foreign companies can recoup from oil projects from 49 percent to 75 percent.
Now we can withdraw from Iraq with dishonor, because the illegal invasion of Iraq has now almost given us over 75% of Iraq's oil, and it only took us six years, hundreds of thousands of damaged or dead Americans and well over another $3 trillion, not on the books, to achieve this war-crime that greatly enhances the Corporatocracy's holdings of other people's resources. I'd bet money that this doesn't make any local news headlines in USA Inc.
Obama's 'job' throughout this entire series of continued criminal thefts of the public's money, was supposed to serve the American public by defending and protecting the Constitution (and the laws of this Republic), against all enemies both foreign and domestic-nothing else counts. If our Shadow-leader cannot do this then he should resign or be impeached-immediately.
1) Perp Walks instead of Bonuses
http://www.huffingtonpost.com/robert-scheer/perp-walks-instead-of- bon_b_176145.html
2) Fed plans to inject another $1Trillion to aid the Economy
Perp Walks instead of Bonuses, interview on Democracy Now:
http://www.democracynow.org/2009/3/19/ the_great_american_stickup_veteran_journalist
Death Threats for AIG Executives
Donate to Rense.com
Support Free And Honest
Journalism At Rense.com
Subscribe To RenseRadio!
Enormous Online Archives,
MP3s, Streaming Audio Files, 
Highest Quality Live Programs


This Site Served by TheHostPros