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Monday, December 15, 2014

Analysis: Last Week's Wall St Bailout & Obama Betrayal

~  Boehner:  "You're my buddy..  My pal..  My friend"
     Obama:  "You're not so bad yourself amigo"

Long post today..  Sorry.. Just can not be helped..  The infomation is so important and relevant, I'm not even going to use pics of squirrels or other furry woodland creatures to break up the content..  Would be too distracting..  

So onward it begins..

Most words in the English dictionary that begin with the prefix 'bi', are pretty harmless and I have no problems with..

Words like 'bicycle' and 'bifocals' and 'bicentennial'
One word that begins with 'bi' that I have personally Hated and Despised for many many years was 'bipartisanship', and I would often get into civil but heated debates with colleagues, acquaintances and others over this 'necessity' as others would describe it..

"The nation simply can not function if there isn't compromise and concession".. etc etc..

Yes... So how did all those compromises involving slavery during the formation of the Constitution in 1787 and the Missouri Compromise of 1820 and the Compromise of 1850 work out for everyone?

Ah yes.. A big, needless civil war costing 600,000+ lives and even more wounded and accumulating a debt that took the US government 100 years to fully pay off solely because few to none in the first 65 years of this nation's life had the guts to say, 'Slavery ends or it is allowed unimpeded.. No compromises!'
And whether in the historical or modern context, I can not stand seeing Rep and Dem lawmakers working together on anything because if one is to believe all the rhetoric, their policies and worldviews are supposed to be diametrically opposing and as a voter, I feel betrayed.

Let's take abortion as an example because pretty much everyone has a position..

You support and vote for a Dem candidate who campaigns for protecting a woman's right to choose, as they phrase it and the politician says he/she will fight to protect that choice.  

Then a couple months later a Rep abortion bill is up for vote pushed forth by those with pro-life convictions and you find out your guy or gal voted in support of a bill that would make abortions after the 1st trimester illegal and punishable by imprisonment because of some compromise that would protect the rights of women who were raped, etc..

How would you be feeling about bipartisanship then?!
We much prefer government be more like an incident which took place back on May 22, 1856 in the US Senate

To be brief, abolitionist Senator Charles Sumner deeply insulted southerners during a debate over Kansas by basically accusing slaveholders of wanting to maintain slavery so that they could engage in forcible sexual relations with their slaves..

In response South Carolina Senator Preston Brooks picked up his cane and repeatedly bashed Sen. Sumner over the head until it broke in two, causing an injury which took Sumner many years to recover fully from.   Brooks was sent many new canes by supportive Southerners to replace the broken one...

Now you're probably thinking, "Oh you don't mean that..."

Let's put it this way..  I rather see the President and Senate Majority Leader trying to whack each other with their golf clubs than being happy-chummy on a golf course while selling out this nation over a laugh and a beer
And this long intro takes us to the meat of this posting..

The complete and total sellout of this shit President to Wall Street a few days ago via a $1.1 Trillion spending bill to keep the government operating..

Sen Elizabeth Warren, the new hero to the left and someone we hope will run in 2016 explained the situation as such:

"And now we're watching as Congress passes yet another provision that was written by lobbyists for the biggest recipient of bailout money in the history of this country. And its attached to a bill that needs to pass or else we entire federal government will grind to a halt. Think about that kind of power.

If a financial institution has become so big and so powerful that it can hold the entire country hostage. That alone is reason enough to break them up. Enough is enough."
One of the most controversial provisions in the spending bill weakens the Dodd-Frank Act's restrictions on banks that want to trade in the same sorts of risky derivatives that sparked the financial meltdown of 2008, and allows the banks to back their bets with taxpayer-backed insurance.

That means if the soulless Rats on Wall Street make profit on their derivative trading then, they profit and 'win', and if it goes up in smoke again like 2008, they're All bailed out and thus, they 'Win'!

The bill also dramatically increases the amounts that wealthy donors can give to the major political parties. Some Democrats have said that the two measures together amount to letting wealthy Wall Street employees earn more money, which they can then use to reward lawmakers who backed the spending deal.
And President WallStreet.. um..  Obama, a "Democrat" helped push this to passage in the House when it was previously looking dead thanks to lack of Rep support for it..

Oh you didn't think 'Black Bush' was able to serve two terms because the people elected him did you?

No no.. Wall St 'allowed it' and this is some of the payback..

Here's Rolling Stone's Matt Taibbi, the great chronicler of 21st Century Wall Street shenanigans take on what happened:

"As (Senator) Warren has cannily pointed out, veterans of Citigroup have dominated the Democratic Party establishment for quite a long time now, through figures like current Treasury Secretary Jack Lew and former Clinton Treasury Secretary Bob Rubin."
It used to be Dems could count on Unions to provide the vast bulk of the donations they needed to fund Presidential elections but the combination of dwindling amounts from weakening unions, increased disparity vs Wall St whore Reps and embarrassing blowout losses in 80, 84 and 88..

And then the Dems followed Clinton's idolatry toward Wall St by selling its political soul so it could compete and win in 92 which obviously they successfully achieved..

And now for two decades plus, both hands dip their hands in the same cookie jars; borrow from the same Wall St sharks..

"There was a time 50 or so years ago, when a Democratic president would seek $100 million for a program, fiscally conservatives Republicans would counter with $50 million, and in the end it would get $75 million. That was "compromise" and "bipartisanship." 

What happened this weekend was something completely different: "Blackmail" by rich donors -- exactly what we have feared after Citizens United and other court decisions allowed unlimited money to infect the body politic.

What can be done...realistically? I'm honestly not sure. Flipping Congress from Republican to Democratic and back to the GOP has proved easy in the 21st Century, but electing a Congress that truly represents citizens, in a time of Citizens United and computer-aided gerrymandering, has proved damn near impossible. 

The White House in 2016? Hillary Clinton is a unrepentant tool of Wall Street, and the odds of (Elizabeth) Warren or another more liberal candidate beating her in the primaries and then surviving the Fox News onslaught in the general election are very, very long. 

Jeb Bush, Mitt Romney and the other looming Republican retreads are even worse."

This is something A&G has railed about since our inception nearly 52 months ago..

That in spite of the rhetoric of 'Hope' and 'Change' and whatever other nonsense politicians spew, neither party is looking out for you, and collectively we still can not allow ourselves to trust and vote for 3rd party candidates for fear of giving up votes to 'the enemy'
Let's discuss Hillary for a moment because she as supposed Dem frontrunner for 2016 is connected in this muck..

From Mother Jones:

"Here was Hillary, test-driving a theme for a possible 2016 presidential campaign, sticking up for the little guy and trash-talking the economic elites. 

She decried the "shadow banking system that operated without accountability" and caused the financial crisis that wiped out millions of jobs and the nest eggs, retirement funds, and college savings of families across the land. 

Yet at the end of this week, when all three Clintons hold a daylong confab with donors to their foundation, the site for this gathering will be the Manhattan headquarters of Goldman Sachs.
Goldman was a key participant in that "shadow banking system" that precipitated the housing market collapse and the consequent financial debacle that slammed America's middle class. (A system that was unleashed in part due to deregulation supported by the Clinton administration in the 1990s.) 

This investment house might even be considered one of the robber barons of Wall Street...

Clinton's relationship with Goldman Sachs is not unique. Bill and Hillary Clinton have always nurtured cozy ties with Wall Street—in terms of policies and funds-chasing (for their campaigns and the foundation).

The chief economic guru of the Clinton administration was Robert Rubin, a former Goldman Sachs chairman (and one time head of Citibank), and the financial deregulation and free-trade pacts of the Clinton years have long ticked off their party's populists. 

In his new book, former Treasury Secretary Timothy Geithner recalls visiting Bill Clinton at his Harlem office and asking his advice, as Geithner puts it, on "how to navigate the populist waters" and respond to the American public's anger about bailouts and Wall Street. 

The former president didn't seem to have much sympathy for these popular sentiments and replied by referring to the CEO of Goldman: "You could take Lloyd Blankfein into a dark alley and slit his throat, and it would satisfy them for about two days. Then the (populist) bloodlust would rise again." 
Goldman has donated nearly $500k to the Clinton Foundation, paid Hillary $400k per speech for a few given and her son in law, Chelsea's hubby worked at Goldman until a couple years ago to start his own hedge fund called EagleVale with two former colleagues at Goldman who worked as proprietary traders.

Hillary will most likely represent the Dems in 2016 even though the snake does not represent the core values or live the live of 99% of those who proudly hold Democrat economic principles and beliefs

The Republicans will put out someone no better..
We end with this passage from a book by Sen. Warren released this year, where she recounted a dinner she had with President Obama’s chief economic adviser, Larry Summers, in April 2009, when Warren was the outspoken chairman of a Congressional appointed panel probing the government’s response to the financial crisis:

"Larry leaned back in his chair and offered me some advice. ... He teed it up this way: I had a choice. I could be an insider or I could be an outsider. 

Outsiders can say whatever they want. But people on the inside don’t listen to them. Insiders, however, get lots of access and a chance to push their ideas. 
People — powerful people — listen to what they have to say. 

But insiders also understand one unbreakable rule. They don’t criticize other insiders.

I had been warned."

Anyone who's read this post has been warned as well..

A&G will return no later than Wed..