jump to navigation

High water… 19 March 2009

Posted by marisacat in 2010 Mid Terms, California / Pacific Coast, DC Politics, Inconvenient Voice of the Voter, Lie Down Fall Down Dems.
trackback

flooding-in-venice
.

Aqua alta – Venice – 2008

Well I did not say it, Roubini did… The United States of Ponzi

A reporter contacted me recently with the following question:

“I am a reporter, and I am doing a story on Bernard Madoff’s life after pleading guilty. As part of this, I was wondering if you could comment on what significance he will have in the history of this period. Will he represent more than a scamster who stole a lot of money from a lot of people? As Bernie Ebbers and Ken Lay came to embody corporate greed and deceit, what will Madoff symbolize?”

Here is my answer fleshed out in full:

Americans lived in a “Made-off” and Ponzi bubble economy for a decade or even longer. Madoff is the mirror of the American economy and of its over-leveraged agents: a house of cards of leverage over leverage by households, financial firms and corporations that has now collapsed in a heap.

When you put zero down on your home, and you thus have no equity in your home, your leverage is literally infinite and you are playing a Ponzi game.

And the bank that lent you, with zero down, a NINJA (no income, no jobs and assets) liar loan that was interest-only for a while, with negative amortization and an initial teaser rate, was also playing a Ponzi game.

And private equity firms that did over a $1 trillion of leveraged buyouts (LBOs) in the last few years with a debt-to-earnings ratio of 10 or above were also Ponzi firms playing a Ponzi game.

He did not stop there.. ahem:

A government that will issue trillions of dollars of new debt to pay for this severe recession and socialize private losses may risk becoming a Ponzi government if–in the medium term–it does not return to fiscal discipline and debt sustainability.

Madoff may now spend the rest of his life in prison. U.S. households, financial and non-financial firms, and government may spend the next generation in debtor’s prison having to tighten their belts to pay for the losses inflicted by a decade or more of reckless leverage, over-consumption and risk-taking.

Americans, let us look at ourselves in the mirror: Madoff is us and Mr. Ponzi is us!

***

Yesterday Ob compared the AIGs to suicide bombers. Yes, he wowed ‘em in OC CA with that…

[E]ven though the deposits might be guaranteed, you’ve got the entire economy resting on that credit.”

The president said, “It was the right thing to do, even though it’s infuriating, even though it makes you angry because you’re thinking, ‘I was responsible and these folks are irresponsible and somehow I’m paying for them.’ The same is true with AIG. It was the right thing to do to step in.”

“Here’s the problem,” Mr. Obama said, “It’s almost like they’ve got — they’ve got a bomb strapped to them and they’ve got their hand on the trigger. You don’t want them to blow up. But you’ve got to kind of talk them, ease that finger off the trigger.”

hmmm. Might try listening to himself someday.

My own allusion, the nation swallowed a load of bombs over the years. The triggers went off.

***

In other tangential, completely unrelated, nothing to do with anything,  news, there are demonstrations planned in San Francisco today… for the 6th anniversary of the start of the war. The second war… the Iraq section of the Big War. Long War… what ever they call that particular bomb we swallowed. I prefer to phrase it, the 7th year of war.

Oh I am sure it all comes out OK in the end. The president said so yesterday.  No worries.  God bless…

About these ads

Comments»

1. marisacat - 19 March 2009

Asia Times:

There is mounting evidence that China’s central bank is undertaking the process of divesting itself of longer-dated US Treasuries in favor of shorter-dated ones.

wu ming - 19 March 2009

i hope they manage to pull it off. no sense having the entire globe in meltdown. throwing another billion victims onto the pile won’t make things any less painful here. hell of a needle to thread.

marisacat - 19 March 2009

I agree.. and it is to be expected.

2. Intermittent Bystander - 19 March 2009

More fuel for the Outrage Bonfires this morning:

CBS gets into Citigroup’s construction-in-progress of a spankin’ new $10M executive suite, and

House Rep. John Lewis sez a review of the tax records for the 23 biggest TARP-ball recipients shows that 13 of the corps(es) owe millllllions in back taxes, despite having had to sign contracts asserting they had no tax delinquencies. (However, the Treasury Dept did NOT require them to submit documentation proving it.) Two of the bailed-out firms owed more than $100 million each.

“If we looked at all 470 recipients, how much would they owe?” Lewis asked.

Why dontcha do that, Congressman, and get back to us with the frickin’ answer? Don’t forget to name names.

marisacat - 19 March 2009

interesting about the building.. in ’91 (that cash insecurity go round!) GS abandoned a building they had fought years to build.. forget where in lower Manhattan.. not sure they had broken ground. NYers might remember better than I…

liberalcatnip - 19 March 2009

(However, the Treasury Dept did NOT require them to submit documentation proving it.)

I’m sorry but this just gets funnier and funnier by the minute! Holy fucking crap, Batman.

3. Intermittent Bystander - 19 March 2009
marisacat - 19 March 2009

Geesh I went to take a shower (the mice said I could) and so much news popped.

Gah.. I see two companies taking bail out owe more than 100 mil

They ALREADY have a bail out, right there.

Intermittent Bystander - 19 March 2009

UH-oh . . . mouse family has annexed the bathroom?

Like I said last week or whenever – watch out for paddlers! Keep bail-out tools at the ready!

marisacat - 19 March 2009

no… not that I know of.. usually all I have are Daddy Long Legs in teh tub… I corner them with a bit of paper towelling and drop them on a plant in the window..

No the mice seem to be keeping to one room. gah.

marisacat - 19 March 2009

HA!

john lewis needs to get over being delicate:

He did not name the firms owing back taxes.

4. marisacat - 19 March 2009

What a shock, Madoff still wants bail.

5. Intermittent Bystander - 19 March 2009

IMF deepens foreshadowing of global gloom: World economy ‘to shrink in 2009′

The world economy is set to shrink by between 0.5% and 1.0% in 2009, the first global contraction in 60 years.

Ouch, ouch!

But all is well in WallyWorld, which will show its kinder, gentler side today: Wal-Mart awarding $2 billion to U.S. hourly employees.

6. Madman in the Marketplace - 19 March 2009

Obama’s diplomatic gift to UK leader fubared by DRM

Mike sez, “Last month’s visit to Washington DC saw the usual exchange of diplomatic gifts – Gordon Brown gave President Obama a pen holder carver from the timbers of a ship involved in the fight against slavery. In exchange, he was given a box set of 25 classic American movies. On DVD. According to the Telegraph, the leader of a government committed to stronger IP laws sat down recently to watch his new present and… …they’re Region 1 DVDs. Would it be terribly wrong to tell Gordon Brown how to break CSS?”

Oopsie.

marisacat - 19 March 2009

when that whole flap came down… and the Browns brought a series of gifts to Ob… and series of gifts for the duaghters as well.. foor which they got the DVDs and two plastic plane models of AF 1 from some WH gift shop (for the Brown sons)… and there was some wonder if they were even playable in the UK.

Seems they are not.

wu ming - 19 March 2009

brown should have a multiregion unlocked DVD player anyways. only way to get around the IP bastards.

7. BooHooHooMan - 19 March 2009

{swoopf. }
Lawmakers Ask What Treasury Secretary Knew

{swoopf. swoopf.}

Workers at AIG Financial Products watch Hill telecast with fear and anger.

{.ssSssfffwoopff.} eh. yih…

nih. yih. {{EXXHAling}}

Attorney General Signals Shift in Marijuana Policy

Yooooou wannnah Hidt?
Those fuckin villagers man, are fuckin scary.

BooHooHooMan - 19 March 2009

This is about all anyone needs to see
when considering investing in the United States.
Ya know, following our lead…

Jeezis Chrifst.

8. liberalcatnip - 19 March 2009

This looks like it’s quite the book: China’s last eunuch spills sex secrets

9. NYCO - 19 March 2009

It seems to me that huge bonuses are more about protecting “trade secrets” than they are rewarding employees. A way of holding them hostage to a company so they don’t go over to another company. Because, after all, none of these financial companies actually do any innovating. They’re all scuffling after the same dime, all competing with each other in a closed system. They’re tribes, raiding parties of Viking clans.

That’s why they keep spouting inanities about “holding on to talent.” It’s just “holding on to people who know our internal workings.”

marisacat - 19 March 2009

raiding parties… GANGS… I agree…

Can we just prepare the Viking funeral boats and ship them off to a water born funeral pyre… that would work for me.

10. marisacat - 19 March 2009

Will this never end… Geithner I think admits to the adjusted truth that Dodd told. Second version. maybe it was third.

Who knows.

11. liberalcatnip - 19 March 2009

I really think Obamalama would gain more support if he’d lay hands at those town halls and HEAL people. Ramen. Halleljuah.

12. marisacat - 19 March 2009

If it matters

[I]n an interview with CNN’s Ali Velshi, Geithner said the Treasury Department did talk to Sen. Chris Dodd about a clause he put forth that would have strictly limited executive bonuses.

The Treasury Department was concerned that legislation that would restrict contractual bonuses would not hold up to legal challenges, Geithner said.

“We expressed concern about this specific version. We wanted to make sure it was strong enough to survive legal challenge,” Geithner said.

Geithner’s interview will air on CNN in part at 5 p.m. ET on Thursday and in full at 8 p.m. …

liberalcatnip - 19 March 2009

I watched a clip of that. Geithner said he wasn’t the one who made the suggestion to Dodd. It was other treasury dept staffers/officials. Not that he doesn’t think it was the right thing to do though. He just distanced himself from the direct conversation (while expressing support for Dodd).

I believe they call that building plausible deniability.

13. marisacat - 19 March 2009

Gosh Golly. Josh sounds a teeny weeny weeny upset. Or, felt he needed to display some exasperation and incredulity. heh.

[W]e’re paying them off, either in full or in part, out of fear that pulling the plug on these contracts would so destabilize the global economy that paying it is a better solution than not. But we’re doing it for us. Not them. They are, at best, collateral beneficiaries. So all the talk of whatever self-serving or legally dubious contracts they penned for themselves two or three years ago are beside the point.

Or at least that’s the idea. Unless we’re actually just chumps and Obama — via Geithner and Summers — have simply ceded the running of the whole thing to the people who caused all the problems in the first place. And we are just along for the ride even though we’re paying the bill.

In this sense, this isn’t a distraction. Yes, the dollar amounts are small. And pols across the spectrum are demagoguing the thing for all its worth. But the real issue of who’s in control, and whose interests are being served, cuts through every dollar we’ve dedicated to this project. And when you look closely at the much bigger AIG counter-party issue, the same disconnect is there every bit as much as it is with the bonuses.

Whether Geithner and Summers are too close to the people on Wall Street, either through interest or affinity, is an interesting and possibly important question.

But fundamentally Obama needs to start showing that he’s in charge, that he’s operating as the American people’s advocate and that he has the power to do it — which these stories of getting jacked up by some Gordon Gecko wannabes in London just terribly undermines But to do that, to show that, it has to be true. And that might require some real changes in policy and possibly in personnel too.

Well it is a nice idea… anyway.

14. BooHooHooMan - 19 March 2009

LOL.

Pope’s Condom Stance Sparks Row

Someones having fun at the BBC.

15. Intermittent Bystander - 19 March 2009

After a particularly trying day in the job-seeking trenches, I’d like to send this out to ms_xeno, wherever she may be.

marisacat - 19 March 2009

Hey hey IB… very sorry to hear of trying day… in the trenches. And I will send ms xeno that comment… ;)

Intermittent Bystander - 19 March 2009

Thanks, MCat!

Haven’t seen bayprairie stopping by lately either, and am hoping all is well with her too.

marisacat - 19 March 2009

I dropped bayprairie an email a few days ago… I worried as she had, a few weeks ago, mentioned a preliminary meeting with HR at her place for info on layoffs that might be coming up… have not heard back yet, but she always checked her email just from time to time…

So, I am hoping everything is OK…

Intermittent Bystander - 20 March 2009

Fingers crossed.

May spring bring healthy foraging for all!

16. marisacat - 19 March 2009

Golden Snowflake in trouble? (Gawd and Ganswein will save him!)

My guess is they want public rumblings to protect the collection plate, the “US purse”. We may not be the continent with the most Catholics, but they love our cash collection, which I read is the highest. Those heathen Europeans… and all that.

Vatican insiders declare the Pope a ‘disaster’

Pope Benedict’s repeated gaffes and the Vatican’s inability to manage his message in the internet era are threatening to undermine his papacy, Vatican insiders have said.

The Pope is isolated and fails to adequately consult his advisers, said a Vatican source with 20 years’ knowledge of the Holy See.

Another Vatican insider described Pope Benedict’s four-year-old papacy as “a disaster”, recalling the pontiff’s previous inflammatory remarks on Islam and homosexuality.

“He’s out of touch with the real world,” the Italian insider said. “On the condom issue, for example, there are priests and bishops in Africa who accept that condoms are a key part of the fight against Aids, and yet the pope adheres to this very conservative line that they encourage promiscuity. The Vatican is far removed from the reality on the ground.” …

BooHooHooMan - 20 March 2009

Holy Talkin Jesus Jewelry! It sounds like somebody commandeered the Vatican Press Office.

17. Intermittent Bystander - 20 March 2009

Speaking of Golden Snowflakes, I slept through most of the Leno appearance, but apparently Obama made a joke about his bowling, with a reference to the Special Olympics? (Revisionist has a diary at FSZ.)

No mention of it in this AP account: `Tonight’ is friendly turf for President Obama.

18. Intermittent Bystander - 20 March 2009

Ah – I see CBS has a different AP item and is running with it. Obama’s ‘Special’ Bowling Skills. Includes a bit of mile-high damage control by deputy press secretary.

“He thinks that the Special Olympics are a wonderful program that gives an opportunity to shine to people with disabilities from around the world,” Burton told reporters flying back to Washington with Mr. Obama aboard Air Force One.

A call for comment to a Special Olympics spokesman was not returned late Thursday.

marisacat - 20 March 2009

Can’t remember where I read it a couple days ago… maybe somewehre out here… that of course by Wednesday,, the script for the appearacne on Leno was negotiatied, the topics approved and the jokes written. Obama is so risk averse that it does not surprise…

So one wonders. He wants the Beavis and Butthead vote, I guess.

I wish pretzels were outspoken about things that matter rather than dumb, politically tone deaf jokes about other people. Whoever, whatever group.

I hate how “PC” things have gotten, but he seems clueless that people do ”hear” him. Or, he does really want the couch potato dumb fuck white adolescent forever vote.

Intermittent Bystander - 20 March 2009

Ugh. I assumed it was just a klutzy throwaway line, but if everything was so very pre-scripted . . . seems rather a risky dogwhistle to Beavis and co.

liberalcatnip - 20 March 2009

If Bush had made that special olympics comment, I would have called him an insensitive asshole. The same goes for Obama.

marisacat - 20 March 2009

Can’t remember which [undit I read it at this am.. but apparently Obama’game would nto qualify for the Special Olympics Bowling League. Seems they score in the 170 – 180 range and one SO bowler has bowled three perfect games.

Which, knowing nothing, I assume means you can throw the ball down teh center lane and take out all the pins, in one go.

19. BooHooHooMan - 20 March 2009

Uh Oh. Maybe that Orthodox prick NY Speaker of the House Shelly Silver is going to get indicted along with Alan Hevesi for NY Pension Fund Steerage. This is a big case. Andrew Cuomo is either going to become a Rock Star or Get his ass killed if he moves to take down Silver in New York. Hevesi was Silver’s boy. And Silver is shnazz deep in Pension Fund steerage.

This from Last Year as Silver shut down attemps to open up NY Pension fund board. Look at the Hubris. He’s a motherfuckin crook :

The speaker of the Assembly, Sheldon Silver, will stand opposed to putting the state pension fund under the control of a board — regardless of the results of investigations into the state comptroller’s office, he said.

Yesterday, Coumo’s move:

ALBANY — Two top advisers to Alan G. Hevesi, the former state comptroller, were charged Thursday in a 123-count grand jury indictment that said they had turned New York’s $122 billion pension fund into a criminal enterprise. The scheme netted them and other Hevesi associates tens of millions of dollars in kickbacks from firms investing the fund’s money, the indictment said.

Hank Morris was chief political adviser to Alan G. Hevesi, the former state comptroller.

Hank Morris, who was once Mr. Hevesi’s chief political adviser and a nationally known Democratic consultant, was charged with myriad counts — including bribery, grand larceny, money laundering and fraud — in a case brought by the state attorney general, Andrew M. Cuomo. Mr. Morris collected more than $15 million in fees from investment companies during Mr. Hevesi’s tenure as comptroller, from 2003 to 2006, according to court papers.

David Loglisci, who was the top investment officer of the pension fund, was charged with multiple counts related to official misconduct, falsifying records and fraud. The two men pleaded not guilty at their arraignment in State Supreme Court in Manhattan, and were released pending the posting of bail, which was set at $1 million for Mr. Morris and $350,000 for Mr. Loglisci.

The indictment said that at least two other people participated in the criminal conspiracy, but it did not name them.

So Two Guys remain unindicted. Busting Morris is way up the food chain, After Hevisi it’s Silver. Silver protected his ass. Cuomo:

“This is the first of several cases and developments that will be announced on this matter,” Mr. Cuomo said. “The indictment charges crimes that go beyond the grossest manifestations of pay to play.”

Hear,Hear! on the First Part, tho a little funny it takes “beyond the grossest manifestations of pay to play”:: State, National, and Global COLLAPSE before the prosecutors get off their ass. Spitzer was headed in the right direction , till he was “headed” in another, so to speak. It seems to me, and I’d like to hear what NYCO has to say, but it seems to me NY Dems for State Row offices will be fighting to save their ass as things go down the shitter, afterall, they were minding the store in State. Or, NOT. Cuomo can’t sit on his ass really, can he? Otherwise he’s Andy the Patsy? NYCO ? Whaddya think?

From Joisey, I think this is just a “strong recommended BUY” , here, – Orville Redenbacker, Jiffy Pop, the whole sector. I sure Hope corruption doesn’t find it’s way into New Jersey from New York. LOL.

One other tid- Silver’s boy Hevesi?
Hevisi was the guy viaq the NY Comptrollers Office who cracked the Swiss Banks, honored by Israel. You tell me with this kind of money – $1.2 Billion – that there weren’t a lot of moochers and graft, and I’ll tell ya: Bullshit.

HEVESI TO BE HONORED BY ISRAELI GOVERNMENT
FOR HIS WORK HELPING ACHIEVE RESTITUTION FROM SWISS BANKS

New York City Comptroller Alan G. Hevesi will be honored by the Israeli government on November 17, 1998 in Jerusalem for his important role in bringing a $1.25 billion settlement with the Swiss banks earlier this year. In a special ceremony, at the Israeli Knesset (Parliament), Prime Minister Benjamin Nethanyahu will present Hevesi with the Knesset award for Conscience and Courage.

Now the same recipients are screaming for the Swiss to maintain Secrecy. LOL. Anyways, around we go.

Alan Hevesi is the son of the late Dr. Eugene Hevesi, a Hungarian-born a leader in the American Jewish community who served as foreign affairs secretary for the American Jewish Committee and as representitive to the United Nations for several Jewish NGOs. [ 4 ]

Italian Prosecutor vs. Jewish Mafia in New York. Place your Bets.

marisacat - 20 March 2009

Sorry! :oops:

This languished for hours in the Spam file…

20. NYCO - 20 March 2009

37. To be fair, I don’t really think that’s an Obama thing so much as a POTUS thing. Which is why I don’t understand why everyone got so excited about the appearance. As if it wouldn’t be scripted to the hilt.

(But that Special Olympics comment… oyyy)

marisacat - 20 March 2009

Oh I am sure it was scripted. And yes, why get excited, just one more of their instances of seeking selected media outlets over and above governing.

But HE sold himself as Jesus the healer. To all people. I decided at some point that it was not political schtick, he and his actually do believe it. One reason they appear so nonplussed when his acting out or being a sell out does not work out for them…. He should be exempt they think. That DNA stuff and all.

LOL. The whole Leno thing is unsurprising. As “select” media.. It is where Artnold chose to announce for the gubernatorial… the Recall.

21. marisacat - 20 March 2009

This is the tease in The Note email:

You know it’s a bad week on the PR front when even an appearance on Leno requires a spin job. President Obama lost a week in his bid to push his sweeping agenda, as a great communicator found himself consistently off-message on a story that’s not slowing down, ABC News senior political reporter Rick Klein writes in Friday’s Note. And will the Tim Geithner-Chris Dodd showdown get anyone anywhere?

A lot of this scheisse remiinds me of when it came out that he and his liaisons to congress had not tipped DiFI about Panetta. And she made use of that… I don’t care about either Ob or DiFi, I don’t care about rotted flesh gargoyles licking each other (or whatever passes for “respect” between pols)… but he gave her an opening. she took it, big time. Easy to make him look like a stupid child in the espalier’d rose garden, which is just what she did…

AND it came out, out here, from a stray comment of Boxer’s, that Ob had alerted almost NO ONE in congress of his cabinet picks in their area of committe chair. Boxer had not been adivised of energy pic nor environment either.

It is just dumb.

I am so sick of dumb I could die.

22. marisacat - 20 March 2009

Can’t we tie them all in a sack with rocks and throw them in a fast moving river?

Ben Smith full text (he did have embedded links)

Holbrooke at AIG

The AP notes that he was on the board, and thus vulnerable to the feeding frenzy.

He’s no longer on the board — which is, oddly enough, now offline, though obviously public — but here’s the list from the first quarter of 2008, when those bonsuses were decided. Also on the board at the time were former Defense Secretary William Cohen and economist Martin Feldstein.

UPDATE: A colleague points out that Holbrooke also received a “friends of Angelo” mortgage and was a managing director at Lehman, which is quite a trinity.

23. marisacat - 20 March 2009

Dropping in at the NYT I see Obster made his “appeal” to Iran with Shimon Peres

That’ll do it. Fur sure.

liberalcatnip - 20 March 2009

Shimon Peres? This Shimon Peres?

Vice Premier Shimon Peres said Monday that “the president of Iran should remember that Iran can also be wiped off the map.”

2006

24. liberalcatnip - 20 March 2009

Woohoo! A.I.G. Sues U.S. for Return of $306 Million in Tax Payments

You couldn’t make this shit up.

25. marisacat - 20 March 2009

FWIW…. (very very little)

Meet the Press: NYC Mayor Bloomberg, Govs. Schwarzenegger and Rendell. Roundtable with NBC’s Brokaw, CNBC’s Burnett.

Face the Nation: Obama economic aide Goolsbee, Rep. Frank, Sen. Grassley. Roundtable with Slate’s Dickerson, NY Times’ Calmes.

Fox News Sunday: Obama economic aide Romer, Sen. Shelby, Rep. Rangel, White House photographer Souza.

State of the Union: Romer, House Minority Leader Boehner.

***

MTP looks to be painful beyond belief… Brokaw AND Rendell AND Arnold AND Bloomberg. They should issue morphine with that show…. and I am surprised they have pushed Romer out there again, and to more than one venue.

She can again say the “fundamentals are sound”. But that it means something different than McC saying it months ago with a higher DJI and lower unemployment.

Whatever.

Sack/rocks/river

26. marisacat - 20 March 2009

no surprise….

If you think the H-1B issue has been controversial in America, in India they’re apoplectic.

So when a delegation of Indian CEOs visited the White House yesterday to discuss economic and trade issues, they brought up the H-1B controversy.

Obama Administration officials — including Lawrence Summers — assured the Indian business leaders no new wave of protectionist policies was in the works. That is, unless unemployment gets worse.

That’s what the Indians say they were told, anyway. ….

27. Madman in the Marketplace - 20 March 2009

Convicted Rapists In Military

Wendy’s experience is not unusual. Since 2002, the Miles Foundation, a private non-profit that tracks sexual assault within the armed forces, has received nearly 1,200 confidential reports of sexual assaults in the Central Command Area of Responsibility, which includes Iraq and Afghanistan. Those reports have increased as much as 30 percent a year.

Part of the problem for the increase, critics say, is the quality of today’s recruit.

The military is increasingly issuing something called “moral waivers,” so they can enlist military personnel with felony convictions for crimes like rape and sexual assault.

“We don’t enlist convicted rapists in the armed forces of the United States,” said Michael Dominguez, the principal under secretary of defense for personnel and readiness. “If there’s a consensus ‘that kid needs a second chance, I think he’s got it in him to be a solider,’ then they’ll let him into the armed forces.”

In fact, CBS News has learned that both the Army and Marine Corps did issue a number of “moral waivers” to enlistees with felony convictions for rape and sexual assault – something not acknowledged in a follow-up letter from Dominguez.

But it’s not just who enters the military, it’s how sex offenders are ultimately punished by the Command.

“We have documents showing that a private convicted of rape, who had a bad conduct discharge suspended so he could deploy to Iraq,” Couric told Dominguez. “How could the U.S. military allow a convicted criminal to go back into a situation where he could easily rape again?”

“I’m not familiar with this particular case,” Dominguez replied.

The Army says it is committed to doing better, with plans of adding 15 “Special Victim” prosecutors and 30 criminal investigators by this summer.

“We’ve earned our way through the military, we put in our work,” Wendy said. “And I just think we deserve the same amount of respect, just as everybody else in the military.”

It’s a fight Wendy hopes female soldiers can win.

marisacat - 20 March 2009

they def need to take it right to Michelle Obama’s face. I mean, in her face. All htat mealy mouthed palaver about being for military families. Weep weep hand wring hand wring.

I am so sick of the fucking PR from all the admins. ALL OF THEM. Past and current.

Get her out of the photo op veg garden.

28. BooHooHooMan - 20 March 2009

That Indictment of Hank Morris? 160 some counts?
Hevesi and Shelley Silver’s Guy?
{ there’s some more }
the one where:

The indictment said that at least two other people participated in the criminal conspiracy, but it did not name them.

Well, This thing is bumpin right up Schumer’s ass.

Here’s Chuck Schumer in Aug 2007 with VERY MUCH the “Nothin To See Here Move Along” bit when Spitzer’s ass was wiped out, and Morris was first implicated in the Pension Looting.

Schumer Defends Spitzer, Hank Morris
By Azi Paybarah
August 29, 2007 ,| 5:37 p.m

Chuck Schumer defended Eliot Spitzer and said everyone should move forward and “point to the future.”
{Hear that echo anywhere lately? -BHHM}

In the same interview, Schumer was asked about the troubles surrounding Hank Morris, a political consultant who helped elect Schumer to the Senate.

“Well, Hank has been an outstanding political consultant,” he said. “He’s a man of great, great intelligence and perception and I find him to be a person of integrity.” He added, “But as for this investigation, I don’t know the details.”

The interview with Schumer will air tonight at 10.

This Quote Above by Schumer came two days after a piece in the New York Post –

PENSION $TINK HAS ANOTHER LINK
TWISTED TRAIL THROUGH HEVESI PAL

By KENNETH LOVETT, Post Correspondent

August 27, 2007

ALBANY – A Texas-based hedge fund that received $100 million in New York state pension investments paid hundreds of thousands of dollars in “referral fees” as part of the deal to a company tied to former Comptroller Alan Hevesi’s top consultant, The Post has learned.

At the time it was seeking to do business with New York’s $150 billion pension fund, Hunt Financial Ventures of Dallas was told to contact Hevesi’s political guru, Hank Morris, according to the hedge fund’s lawyer, Bill Brewer.

This puts this right at Hevesi’s door. And the Jewish Dem brokers in the City. Shelley Silver of course, and Andrew (nee Finklestein LOL) Stein…AND Schumer:::::Rebuild The Temple for cryin out load, we could use the courtrooms.

The man responsible for steering the hedge fund to Morris was former City Council President Andrew Stein, His First Wife is now who now works as a business consultant, Brewer said.
{STEIN”S second wife? Lynn Forester, LADY ROTHSCHILD! LOL. Maybe he has a thing for business consultants. I mean ,the menagerie of characters, really..LOL}

{Snip}

Morris is a nationally known Democratic political consultant who spearheaded Hevesi’s election as comptroller in 2002, as well as Sen. Charles Schumer’s successful campaigns in 1998 and 2004.

The Times article referred to Schumer ties in passing – only as the 1998 campaign , it didn’t mention 2004. This guy, Morris, has been with Schumer all along.

Mr. Morris, who grew up in Westbury, on Long Island, is a political operative known for his intense and aggressive style. He directed Charles E. Schumer’s successful 1998 campaign to unseat Senator Alfonse M. D’Amato — he made sure everyone knew that Mr. D’Amato had used an expletive to refer to Mr. Schumer — and even pushed his own mother, Rita, a retired professor, to run for Congress in 1992. She lost. He also advised Senator Dianne Feinstein’s failed 1990 campaign for California governor.

But he was closest to Mr. Hevesi. The two men met in the 1970s, when Mr. Hevesi was a fledgling assemblyman from Queens and Mr. Morris was on the staff of the Assembly speaker, Stanley Steingut. Mr. Morris helped shape Mr. Hevesi’s rise to become comptroller of New York City and then state comptroller, and managed his unsuccessful run for mayor in 2001.

These motherfuckers have been at this ~40 years.
It’s what . they. do. Shielded by their religion and ethnicity as body armour. Gad, Chuck Schumer sure hit that microphone when ties to Morris popped up lest they gain traction.

FFS-
A $150 Billion bucks in NY Pensions at the hands of one guy, Hevisi? that makes the Holocaust settlement look like squat. And Morris a runner for Robert Rubin and the Jew Crew in New York? With captains like Schumer and Shelly Silver in key slots? The New York Pensions Didn’t stand a chance. Dodd and Charlie Rangel are the fuckin help. Well-cut-in Servants, but servants nonetheless. And EXPENDABLE.

marisacat - 20 March 2009

These motherfuckers have been at this ~40 years.

That is part of the problem, same damn people on our necks for years.

And when there is a “new” face it was sent by the boys in the back room. (Ifill tried to claim on Charlie the other night that no one in Chicago knew Obama at all.. GMAFB!!)

A few years ago I went back and read the vaunted Law Day speech that supposedly catapulted Carter forward. Who sat in the front row? Kennedy and other Dem party “deciders”.

I don’t know, let it all break. The only hope.

29. liberalcatnip - 20 March 2009

Our Bush-lite gov’t has banned George Galloway from the country. This, the same week war criminal Bush was allowed in.

He [Galloway] said the ban “may be a rather desperate election ploy by a conservative government reaching the end of line, or by a minister who has not cottoned on to the fact that the George Bush era is over.

“All right-thinking Canadians, whether they agree with me over the wisdom of sending troops to Afghanistan or not, will oppose this outrageous decision. On a personal note – for a Scotsman to be barred from Canada is like being told to stay away from the family home.

“This is not something I’m prepared to accept.”

It’s not the first time the government of Prime Minister Stephen Harper has been linked to a controversial decision to bar entry to high-profile activists.

In October 2007, officials banned two U.S. peace activists from speaking at a Toronto conference – Medea Benjamin, co-founder of CodePink, and retired U.S. army colonel Ann Wright, who has been arrested at various peace rallies.

And a day before U.S. President Barack Obama’s inauguration, authorities barred Prof. Bill Ayers from attending a conference hosted by the University of Toronto.

30. Madman in the Marketplace - 20 March 2009

Taibbi: The Big Takeover

It’s over — we’re officially, royally fucked. no empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline — a corporation that got rich insuring the concrete and steel of American industry in the country’s heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire.

The latest bailout came as AIG admitted to having just posted the largest quarterly loss in American corporate history — some $61.7 billion. In the final three months of last year, the company lost more than $27 million every hour. That’s $465,000 a minute, a yearly income for a median American household every six seconds, roughly $7,750 a second. And all this happened at the end of eight straight years that America devoted to frantically chasing the shadow of a terrorist threat to no avail, eight years spent stopping every citizen at every airport to search every purse, bag, crotch and briefcase for juice boxes and explosive tubes of toothpaste. Yet in the end, our government had no mechanism for searching the balance sheets of companies that held life-or-death power over our society and was unable to spot holes in the national economy the size of Libya (whose entire GDP last year was smaller than AIG’s 2008 losses).

So it’s time to admit it: We’re fools, protagonists in a kind of gruesome comedy about the marriage of greed and stupidity. And the worst part about it is that we’re still in denial — we still think this is some kind of unfortunate accident, not something that was created by the group of psychopaths on Wall Street whom we allowed to gang-rape the American Dream. When Geithner announced the new $30 billion bailout, the party line was that poor AIG was just a victim of a lot of shitty luck — bad year for business, you know, what with the financial crisis and all. Edward Liddy, the company’s CEO, actually compared it to catching a cold: “The marketplace is a pretty crummy place to be right now,” he said. “When the world catches pneumonia, we get it too.” In a pathetic attempt at name-dropping, he even whined that AIG was being “consumed by the same issues that are driving house prices down and 401K statements down and Warren Buffet’s investment portfolio down.”

Liddy made AIG sound like an orphan begging in a soup line, hungry and sick from being left out in someone else’s financial weather. He conveniently forgot to mention that AIG had spent more than a decade systematically scheming to evade U.S. and international regulators, or that one of the causes of its “pneumonia” was making colossal, world-sinking $500 billion bets with money it didn’t have, in a toxic and completely unregulated derivatives market.

Nor did anyone mention that when AIG finally got up from its seat at the Wall Street casino, broke and busted in the afterdawn light, it owed money all over town — and that a huge chunk of your taxpayer dollars in this particular bailout scam will be going to pay off the other high rollers at its table. Or that this was a casino unique among all casinos, one where middle-class taxpayers cover the bets of billionaires.

People are pissed off about this financial crisis, and about this bailout, but they’re not pissed off enough. The reality is that the worldwide economic meltdown and the bailout that followed were together a kind of revolution, a coup d’état. They cemented and formalized a political trend that has been snowballing for decades: the gradual takeover of the government by a small class of connected insiders, who used money to control elections, buy influence and systematically weaken financial regulations.

The crisis was the coup de grâce: Given virtually free rein over the economy, these same insiders first wrecked the financial world, then cunningly granted themselves nearly unlimited emergency powers to clean up their own mess. And so the gambling-addict leaders of companies like AIG end up not penniless and in jail, but with an Alien-style death grip on the Treasury and the Federal Reserve — “our partners in the government,” as Liddy put it with a shockingly casual matter-of-factness after the most recent bailout.

The mistake most people make in looking at the financial crisis is thinking of it in terms of money, a habit that might lead you to look at the unfolding mess as a huge bonus-killing downer for the Wall Street class. But if you look at it in purely Machiavellian terms, what you see is a colossal power grab that threatens to turn the federal government into a kind of giant Enron — a huge, impenetrable black box filled with self-dealing insiders whose scheme is the securing of individual profits at the expense of an ocean of unwitting involuntary shareholders, previously known as taxpayers.

liberalcatnip - 20 March 2009

People are pissed off about this financial crisis, and about this bailout, but they’re not pissed off enough. The reality is that the worldwide economic meltdown and the bailout that followed were together a kind of revolution, a coup d’état. They cemented and formalized a political trend that has been snowballing for decades: the gradual takeover of the government by a small class of connected insiders, who used money to control elections, buy influence and systematically weaken financial regulations.

Bingo.

Can you say “oligarchy”? Now? Please?

Democracy. What a farce. And to think Obamalama plans to “remake the world” in the US’ image.

marisacat - 20 March 2009

They cemented and formalized a political trend that has been snowballing for decades: the gradual takeover of the government by a small class of connected insiders, who used money to control elections, buy influence and systematically weaken financial regulations.

Precisely, lalalamalovebaby is just the latest and very carcinogenic cherry on top of decades of wreckage pillage and murder.

31. marisacat - 20 March 2009

It’s really so done. Like a malfunctioning oven, when it’s smoking it is cooking when it’s burning it’s done. The love fest out here between Ob and Arnold was embarrassing. The two of them slobbering over the other.

I’d watch for a blessed event in 9 months frankly. Christmas birth. LOL

Could he have picked worse men? Gasbags, all 4.

Hearts Arnold, Rendell, Bloomberg

By ALEXANDER BURNS | 03/20/09 3:26 PM

The White House has released a transcript of President Obama’s remarks at his meeting with a bi-partisan (tri-partisan?) meeting with Govs. Arnold Schwarzenegger (R-Calif.) and Ed Rendell (D-Pa.) and New York City Mayor Michael Bloomberg (I).

Obama called the trio “three of the most innovative elected officials in the country, representing not only a wide range of political spectrums, but also different states, different responsibilities, all of whom are concerned about the issue of our infrastructure and how we develop the long-term prosperity that’s going to be so important for America’s success.”

“I’m confident that with all these bright minds sitting around the table, that we’re going to not only continue the progress that’s been made in the Recovery Act, but we’re going to be able to get a budget passed that reflects the concerns that we’re hearing around the table,” Obama said.

liberalcatnip - 20 March 2009

The public as CEO.

32. liberalcatnip - 20 March 2009

And, just in case having Ahnold as your gov isn’t enough: Shock Wave – coming up here on CBC this weekend but it looks like it’s up in parts on Teh YouTube too.

liberalcatnip - 20 March 2009

Oh – I see you can watch the whole thing online at the above link. Tally ho then!

33. marisacat - 20 March 2009

gnu post

LINK

…………… 8O ………….

34. liberalcatnip - 20 March 2009

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 169 other followers

%d bloggers like this: