DIPLOMACY: "The United States want the Islamic republic of Iran to take it's rightful place in the community of nations"
Barack Obama, in a video message coinciding with Nowruz holiday, offering to end years of strained relations if Tehran alters it's foreign policy.
"They chant the slogan of change, but no change is seen in practice. We haven't seen any change."
Iranian Supreme Leader AYATULLAH ALI KHAMENEI dismissing Obama's overture in a speech before tens of thousands in the holy city of MASHAD
Saturday, April 18, 2009
Sunday, April 12, 2009
Barron's: Interview with William Black
In Barron's 4/13/2009 on page 36 I believe we can finally understand what's behind the scenes of Banks Bail Out'
Barron's:Just how serious is this credit crisis? What is at stake here for the American taxpayer?
Black:Mopping out the saving-and-loan crisis cost 150 billions; this current crisis will probably cost a multiple of that. The scale of fraud is immense.....Unless the current administration changes course pretty drastically, the scandal will destroy Barack Obama's presidency.....
Barron's: So you are saying Democrats as well as Republicans share the blame? No one can claim the high ground?
Black:We have failed bankers giving advice to failed regulators on how to deal with failed assets. How can it result in anything but failure? If they are going to get any truthful investigation, the Democrats picked the wrong financial team. Tim Geithner, the current Secretary of the Treasury, and Larry Summers, Chairman of the National Economic Council, were important architects of the problems. Geithner especially represents a failed regulator, having presided over the bailouts of major New York Banks.
Barron's:So you aren't a fan of the recently announced plan for the Government to back private purchases of the toxic assets?
Black: It is worse than a lie.Geithner has appropriated the language of his critics and of the forthright to support dishonesty. That is what's so appalling-numbering himself among those who convey tough medicine when he is really pandering to the interest of a select group of banks who are on the first-name basis with Washington politicians..................(skip)
If cheaters prosper, cheaters will dominate. It is like Gresham's law: Bad money drives out the good. Well, bad behavior drives out good behavior, without good enforcement......(skip)
Barron's: Summarize the problem as best as you can for Barron's reader.
Black: With most of America's biggest banks insolvent, you have, in essence, a multi trillion dollar cover up by publicly traded entities, which amounts to felony securities fraud on a massive scale. These firms will ultimately be forced into receivership, the management and board stripped of office, title and compensation. First there needs to be a clearing of the air-a Pecora-style fact finding mission conducted without fear or favor (Ferdinand Pecora was an assistant district attorney fron New York who investigate Wall Street practices in the 1930's. Then we need to gear up to pursue criminal cases. Two years after the marked collapsed, the Federal Bureau of Investigation has one-fourth of the resources that the agency used during the saving-and-loan crisis. And the current crises is ten times as large. There need to be major force set up, like there were int the thrift crises. Right now things don't look good. We are using taxpayer money via AIG to secretly bail out European banks like Societe Generale, Deutshe Banc and USB in Switzerland, while we were simultaneously prosecuting the bank for tax fraud. The second most obscene: Goldman receiving almost 13 billion in AIG counter party payments after advising Geithner, President of the New York Fed, and then-Treasury Secretary Henry Paulson, former Goldman Sachs honcho, on the AIG government take over......(skip).
Please buy April 13, 2009 edition of Barron's. Read the full article. Starts on page 36 and you will have a clear picture of how our government is defrauding us taxpayer. Thank you
Barron's:Just how serious is this credit crisis? What is at stake here for the American taxpayer?
Black:Mopping out the saving-and-loan crisis cost 150 billions; this current crisis will probably cost a multiple of that. The scale of fraud is immense.....Unless the current administration changes course pretty drastically, the scandal will destroy Barack Obama's presidency.....
Barron's: So you are saying Democrats as well as Republicans share the blame? No one can claim the high ground?
Black:We have failed bankers giving advice to failed regulators on how to deal with failed assets. How can it result in anything but failure? If they are going to get any truthful investigation, the Democrats picked the wrong financial team. Tim Geithner, the current Secretary of the Treasury, and Larry Summers, Chairman of the National Economic Council, were important architects of the problems. Geithner especially represents a failed regulator, having presided over the bailouts of major New York Banks.
Barron's:So you aren't a fan of the recently announced plan for the Government to back private purchases of the toxic assets?
Black: It is worse than a lie.Geithner has appropriated the language of his critics and of the forthright to support dishonesty. That is what's so appalling-numbering himself among those who convey tough medicine when he is really pandering to the interest of a select group of banks who are on the first-name basis with Washington politicians..................(skip)
If cheaters prosper, cheaters will dominate. It is like Gresham's law: Bad money drives out the good. Well, bad behavior drives out good behavior, without good enforcement......(skip)
Barron's: Summarize the problem as best as you can for Barron's reader.
Black: With most of America's biggest banks insolvent, you have, in essence, a multi trillion dollar cover up by publicly traded entities, which amounts to felony securities fraud on a massive scale. These firms will ultimately be forced into receivership, the management and board stripped of office, title and compensation. First there needs to be a clearing of the air-a Pecora-style fact finding mission conducted without fear or favor (Ferdinand Pecora was an assistant district attorney fron New York who investigate Wall Street practices in the 1930's. Then we need to gear up to pursue criminal cases. Two years after the marked collapsed, the Federal Bureau of Investigation has one-fourth of the resources that the agency used during the saving-and-loan crisis. And the current crises is ten times as large. There need to be major force set up, like there were int the thrift crises. Right now things don't look good. We are using taxpayer money via AIG to secretly bail out European banks like Societe Generale, Deutshe Banc and USB in Switzerland, while we were simultaneously prosecuting the bank for tax fraud. The second most obscene: Goldman receiving almost 13 billion in AIG counter party payments after advising Geithner, President of the New York Fed, and then-Treasury Secretary Henry Paulson, former Goldman Sachs honcho, on the AIG government take over......(skip).
Please buy April 13, 2009 edition of Barron's. Read the full article. Starts on page 36 and you will have a clear picture of how our government is defrauding us taxpayer. Thank you
Monday, April 6, 2009
Friday, April 3, 2009
Progress
On my site tinahasit.com is the perfect evidence on how proper use of credit cards can make things happen. My husband and I bought an old Confederate Encampment property. The manor built on it was a total wreckage. We redid it piece by piece. Our good credit allowed us to gain high credit limits from different credit cards. bought all material charging on our cards and paid labor separately. Everything in the manor had to be ordered special made for there was not one door or one window standard size. We started the renovation 33 years ago and it is still on going. Or it would be still on going. Thanks to the new credit cards policies and the lowered credit amount we had to stop. Our halting the jobs means less work for painters, sheet rock layers, tile layers, carpenters, plumbers electrician. cleaning services and many moreIt is not just the big corporations cutting jobs. CREDIT CARDS are contributing a great amount to JOBLESS PEOPLE. America was built on small business and improvement. Now seems like it is being destroyed eliminating the small business to feed the alligator corporations.
Wednesday, April 1, 2009
American Express
Business slowed downs. Am ex charged me 17%. Discover offered me 3.9% so I transfer my balance to Discover. Am ex dropped my credit to a mere 2000. I used Am ex since 1996. Was never late, Always kept my obligation. I guess the move to Discover upset them but the amount of interest saved did not upset me. Am ex upset me by dropping my credit and probably interfering with my credit score. Is there a penalty for honesty in today's world? It appears the more diligent I try to be the more I am cut down. Does today's commercial, banking, financial and political world want to eliminate honesty. Is the margin of profit much greater among dishonesty than honesty?
Subscribe to:
Posts (Atom)