Tags: Banker Bailouts

Video of the Day – Elizabeth Warren Torches Janet Yellen on TBTF

Screen Shot 2014-07-16 at 11.37.34 AMBefore you watch the video, I want to highlight an excellent article published this morning by Yves Smith over at Naked Capitalism titled, Yellen Tells Whoppers to the New Yorker. The title doesn’t do justice to the powerful and scathing critique of the fraud that is the current Federal Reserve Chairwoman. In a nutshell, the article exposes how Yellen’s acting routine is worthy of an Academy Award. In her role, she plays a caring, sweet, grandmotherly type figure all concerned about the poor and middle-class, when reality points to a career as a staunch, frontline protecter of the bankster oligarchy.

From Naked Capitalism (for background, much of the article is criticism of a propaganda piece on Yellen recently published by the New Yorker):

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Matt Stoller Destroys Timothy Geithner in His Epic Review of “Stress Test”

Geithner is at heart a grifter, a petty con artist with the right manners and breeding to lie at the top echelons of American finance at a moment when the government and financial services industry needed someone to be the face of their multi-trillion dollar three card monte. He’s going to make his money, now that he’s done living his life of fantastic power after his upbringing of remarkable mysterious privilege. After reading this book and documenting lie after lie after lie, I’m convinced that there’s more here than just a self-serving corrupt official. There’s an entire culture, of figures at Treasury, the Federal Reserve, in the entire Democratic Party elite structure, and in the world of journalism, a culture in which Geithner is seen as some sort of role model.

- From Matt Stoller’s fantastic article published yesterday, The Con-Artist Wing of the Democratic Party

Timothy Geithner is likely to go down in American history as one of the most dangerous, destructive cronies to have ever wielded government power. The man is so completely and totally full of shit it’s almost impossible not to notice.

The last thing I’d ever want to do in my free time is read a lengthy book filled with Geithner lies and propaganda, so I owe a large debt of gratitude to former Congressional staffer Matt Stoller for doing it for me. Stoller simply tears Geither apart limb from limb, detailing obvious lies about the financial crisis, and even more interestingly, Geithner’s bizarre bio, replete with mysterious and inexplicable promotions into positions of power.

So without further ado, here are some excerpts from this excellent article. From Vice:

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Watch David Gregory Scramble to Avoid Answering Hard Questions on Banker Bailouts and Bonuses

Meet the Press host David Gregory is one of the most shameless and consistent media shills operating in America today. Rather than use his platform as host of a popular Sunday morning political show to examine the root problems in America, he uses it to provide public relations for the criminal oligarch class and to demonize activists and those who speak truth to power. He was one of the first mainstream media presstitutes to go after Glenn Greenwald once the Edward Snowden story broke, something I covered in my piece: It’s Acts of Journalism that Matter Not People Called “Journalists.”

Well Mr. Gregory was at it again this past weekend when he hosted CNBC’s professional Wall Street ass kisser Maria Bartiromo, Hank “Too Big To Fail” Paulson and Massachusetts Rep. Barney Frank. While I am no fan of Barney Frank, being the politician that he is, he took the opportunity to bash Wall Street and made a very accurate point. He asked:

I do want to add one thing to your point about those poor, beleaguered bankers, who have been forced to do so much that they can’t lend money. If they really are running businesses that are so stressed that they can’t do their basic work, why are they paying themselves so much money?

This is where it gets interesting. Everyone is extremely uncomfortable and Maria is about to try to dodge, I mean answer, the question when Gregory jumps in and changes the subject so that no one actually has to address it. If this is what we call “journalism” then we need a lot more activism. Totally shameless. Enjoy.

 

New York Times Op Ed: “Let’s Give Up on the Constitution”

This New York Times Op Ed by Louis Michael Seidman, a constitutional law professor at Georgetown University, is one of the most absurd and dangerous articles I have read in a very long time. This guy’s incredible conclusion is that it is the Constitution of the United States itself that is causing all that ails the nation at this time.  Not once did I read about the Federal Reserve, or the “war on terror,” or the banker bailouts, or the complete destruction of the rule of law in recent years.  Nope, none of that.  Instead, this scholar’s conclusion is that the founding document, which created the fertile breeding ground for freedom and free markets and led to tens of millions of people to flee to from all corners of the globe, is the problem.

I suppose someone failed to remind Mr. Seidman that the oath of office for the military and those that hold political office continues to be:

I do solemnly swear that I will support and defend the Constitution of the United States against all enemies, foreign and domestic.

As I have said for years, a key part of the macro agenda of the corrupt elite has been and continues to be the destruction of the U.S. Constitution.  While the Bill of Rights is already being dismantled behind the scenes, Mr. Seidman is part of the effort to “sell” this concept to the sheeple  as I noted in my article: Here We Go…Slate Magazine Bashes the First Amendment.  I expect more of this type of propaganda going forward.

From the New York Times:

As the nation teeters at the edge of fiscal chaos, observers are reaching the conclusion that the American system of government is broken. But almost no one blames the culprit: our insistence on obedience to the Constitution, with all its archaic, idiosyncratic and downright evil provisions.

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