Archive for January, 2010

January 27, 2010

To the best of Geithner’s and Paulson’s recollection

Treasury Secretary Geithner and former Secretary Paulson’s testimony today at the AIG House oversight committee hearing has disclosed nothing new. Geithner continues to dodge questions related to his knowledge and his assistants’ knowledge related to AIG counterparty relationships and their associations with Government Officials such as Henry Paulson and his assistants who previously worked for Goldman Sachs. Specific questions related to counterparty settlements of 2.5 billion of U.S. Taxpayer Dollars to Goldman Sachs, and 16.5 Billion Taxpayer Dollars to a Foreign National Bank the top two recipients. The web of financial transaction connected many of the financial institution who received billion of T.A.R.P. tax dollars was the reason for rescuing AIG. Geithner’s rationale behind their decision was to prevent a financial catastrophe or meltdown of the US financial systems. Paulson’s rationale similar to Geithner’s was First AIG was too big to fail. That’s sounds familiar. Second, AIG was seriously unregulated. The wolves were guarding the Hen House. Third, AIG could not go into bankruptcy successfully. This was because its failure would affect other financial institutions. The bottom line was the U.S. Taxpayer had to make Goldman and other institutions both domestic and international whole by paying off AIG liabilities to those institutions that had political leverage through our government officials. Of course Paulson denies any role in the decisions being made to help make Goldman whole. The continued excuse is that the future of our economy was at risk. Not really knowing what the results would have been if AIG failed. The scare tactics used over and over again during the Bush/Chaney years to justify two wars carried over into this debacle used by Paulson, Geithner and Bernake. We wonder why the public doesn’t trust Government.

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January 21, 2010

Supreme Court Decision on Corporate Political Ads

Today the Supreme Court has driven the final nail in the coffin of Democracy by allowing Corporations to pay for, out of their own treasuries, commercials and public ads promoting or supporting candidates whose policies and ideologies are that of theirs. The American public has once again been pushed aside and told that their votes will no longer determine who should represent them. The only defense against this is to boycott those Corporations. The 5 to 4 vote was based on party ideologies and not our democratic principals first determined in 1776. George Washington warned us of this and now with this confirmation as to who is in control of our legislative and judicial branches we are faced with the need for true change. If Americans continue to be complacent and not realize that our Democracy is in jeopardy by corporate control of our lives, think again. Wake up America, No honest Abe will ever be able to be elected to public office again with this ruling. Worthy candidates willing to serve the people whether it is local or national offices will be unable to compete because of the money being pump in by corporations. God help us all.

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