- 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!
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- That was a lie.
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- 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)
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- 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)
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- 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.
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- 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.
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- 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.
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- 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.
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- kirwanstudios@sbcglobal.net
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- 1) Perp Walks instead of Bonuses
- http://www.huffingtonpost.com/robert-scheer/perp-walks-instead-of-
bon_b_176145.html
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- 2) Fed plans to inject another $1Trillion to aid the
Economy
- http://www.nytimes.com/2009/03/19/business/economy/19fed.html?hp
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- BACKGROUND:
- Perp Walks instead of Bonuses, interview on Democracy
Now:
- http://www.democracynow.org/2009/3/19/ the_great_american_stickup_veteran_journalist
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- Death Threats for AIG Executives
- http://rense.com/general85/dthr.htm
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