Wednesday, January 7, 2009

Days After U.S. bailout, AIG execs hit L.A. resort spending

Taxation Without Representation.. ENOUGH IS ENOUGH!!!!

it’s time to call a spade a spade. Forgive me James Carville, but, it’s not the economy, stupid. It’s the stupidity, stupid!!

You hopeless Americans! It is you who are the problem! You, by virtue of your incorrigibility, are not worthy of being anything but slaves!

Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion—when you see that in order to produce, you need to obtain permission from men who produce nothing—when you see that money is flowing to those who deal, not in goods, but in favors—when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you—when you see corruption being rewarded and honesty becoming a self-sacrifice—you may know that your society is doomed.

Astonished!!! exec tricks? on AIG spending $440,000 on luxury retreat days after government bailout......6 Days after getting 85 Billion Taxpayer Dollars

The tab included $23,380 worth of spa treatments for AIG employees at the coastal St. Regis resort south of Los Angeles even as the company tapped into an $85 billion loan from the government it needed to stave off bankruptcy.
Invoices obtained by Waxman's committee showed that AIG spent $139,375.30 on rooms, $147,301.71 for "banquets,'' and $1,488 at the resort's Vogue Salon, which offers manicures, pedicures and hairstyling. The group spent $6,939.09 on golf, $2,949 for gratuities, $5,016.32 at the StoneHill Tavern and $3,064.71 for in-room dining and the lobby lounge.
The group booked the resort's 3,100-square-foot presidential suite for $1,600 a night for five nights, a discount from the standard rate of $3,200 a night, a hotel document released by the committee showed. It also paid $1,075 in "no-show fees.''
"Have you heard of anything more outrageous?''
The taxpayer is burdened by another $250 billion rescue of mortgage giants Fannie Mae and Freddie Mac. On Sept. 7, Secretary of the Treasury Henry Paulson led federal efforts to seize control of these government sponsored entities that own or back half of the nation's mortgages The champagne bottle corks were popping as Treasury Secretary Henry Paulson announced his trillion-dollar bailout for the banks, buying up their toxic mortgages
$524.6 Billion Tax payer bailout of financial institutions payed from 1986-1996, ridiculous.
Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims.
That half of you Americans are considering voting for a ticket whose VP candidate supports creationism, in this 2008, who opposes abortions even in the case of rape or incest, and who has literally boasted of her foreign experience primarily because Russia shares a border with her state, simply boggles the mind. Yes, let’s forget Reason, forget common sense, forget science, forget critical thought which without progression, technology, modern civilization, wouldn’t exist, and let’s vote for a creationist! And a female one to boot! Your cant is beyond frightening. If Hockey Mom’s values are that precious to your hearts, or if it’s her gender that blows your whistle that much, why do you even bother, for example, going to the doctor when your kid is sick? Just go to church or a feminist group meeting instead! You stupid seventy million plus neurologically diseased Baptist Americans! Even God Himself would struggle to make you see! Didn’t Jesus profess that truth is better than untruth? How is it that you care so little about wisdom, about truth, about humaneness, about the most meaningful values there can be in this life? Is it because you are simply awaiting, as your Holy Bible describes, the next one? Do us agnostics a favor and take the trip already!

“We the People” have been supplanted by “We the Lawyers.” We the People can’t read and understand our own Constitution. We have to have it explained to us by the professionals. Moreover, if the Court enjoys oracular status, it can’t really be criticized, because it can do no wrong. We may dislike its results, but future rulings will have to be derived from them as precedents, rather than from the text and logic of the Constitution. And notice that the “conservative” justices appointed by Republican presidents have by and large upheld not the original Constitution, but the most liberal interpretations of the Court itself — notably on the subject of abortion, which I’ll return to in a minute.
To sum up this little constitutional history. The history of the Constitution is the story of its inversion. The original understanding of the Constitution has been reversed. The Constitution creates a presumption against any power not plainly delegated to the federal government and a corresponding presumption in favor of the rights and powers of the states and the people. But we now have a sloppy presumption in favor of federal power. Most people assume the federal government can do anything it isn’t plainly forbidden to do.
What it comes to is that we don’t really have an operative Constitution anymore. The federal government defines its own powers day by day. It’s limited not by the list of its powers in the Constitution, but by whatever it can get away with politically. Just as the president can now send troops abroad to fight without a declaration of war, Congress can pass a national health care program without a constitutional delegation of power. The only restraint left is political opposition.
Congress roasts Lehman CEO as financial crisis probe begins
By Julie Hirschfeld Davis Associated Press
Article Last Updated: 10/07/2008 12:01:48 AM CDT
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WASHINGTON — The now-bankrupt investment bank Lehman Brothers arranged millions in bonuses for fired executives even as it pleaded for a federal lifeline, lawmakers learned Monday, The panel unearthed internal documents showing that on Sept. 11, Lehman planned to approve "special payments" worth $18.2 million for two executives who were terminated involuntarily, and another $5 million for one who was leaving on his own.

“King” Henry Paulson, our Treasury Secretary, is a former CEO of Goldman Sachs. That means he comes directly from the very crowd that created the current financial mess, the ever-greedy investment banks led by the elite, who now together demand, daily, from Congress, pushed on by Dubya, a speedy, yes speedy, blank check for perhaps over a trillion US Dollars which they will spend without real oversight! And yet, despite all of this, you stupid Americans are seriously thinking of voting for that guy who has his whole political life basically taken his orders from that same elite!
If you cannot wake up from your own madness, you deserve every ounce of terrible, unrepresentative government you get! And in ten years, when the US’ status resembles that of Argentina, no offense to Argentina, a third world nation marked by hyperinflation, an absent middle class, a tiny ruling elite, and a 99% population below or at the poverty line, perhaps, just perhaps, then, you will begin to critique your own stupidity, to think for yourselves, to shed the shackles of your slavery, and to concentrate more on the meaningful values of wisdom and truth related to your own lives, instead of trash-distractions like Paris Hilton, Britney Spears, and Mrs. lipstick.
These Democratic Party powerbrokers have certainly been privy to the inner workings of the financial feeding frenzy that has unfolded on Wall Street over the last two decades and are as complicit as any Republican in enabling the same firms now being bailed out with taxpayer dollars. It could also be argued that their liberal rhetoric is a key component of the selling job now needed to contain a popular revolt against the unbridled greed that has brought the U.S. financial system to the brink of collapse.
Indeed, their campaign coffers are overflowing with Wall St. dollars. Frank’s top contributors in the current election cycle include Brown Brothers Harriman & Life, Manulife Financial, the American Bankers Association and the American Society of Appraisers, according to the Center for Responsive Politics. Back in 2003, Frank opposed the Bush administration plan to increase regulation of Fannie and Freddie. At the time, Frank argued, 'These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
As recently as July 11th, Dodd concurred. "This is not a time to be panicking about [Fannie May and Freddie Mac], Dodd argued in a press conference. “These are viable, strong institutions.” Dodd’s main contributors from 2003-2008 included Citigroup, SAC Capital Partners, United Technologies and the American International Group (the now infamous AIG).
Schumer’s top five campaign contributors from 2001 to 2006 were Goldman Sachs, JP Morgan Chase & Co, Merrill Lynch, Bear Stearns and Citigroup. Earlier this year, he went on record supporting a federal bailout for mortgage lenders modeled on the federal government’s savings and loan bailout of the early 1990s—which offloaded the debts incurred by insolvent S & Ls onto the backs of taxpayers while the investors (among them Neil Bush, son of George H. W.) who recklessly created the savings and loan crisis walked away with their profits.
These same congressional foxes have once again been guarding the chicken coop, with a predictable outcome. Much like addicted gamblers on a winning streak in a Vegas casino, they ignored the crippling losses that inevitably follow as long as the good times rolled. Now they must reconcile the excesses of their Wall Street patrons with as little retribution as possible.
"What you heard last evening is one of those rare moments, certainly rare in my experience here, is Democrats and Republicans deciding we need to work together quickly,” Dodd told ABC’s “Good Morning America” the morning after the closed-door meeting—as if Democrats and Republicans have been involved in an intractable war in recent decades. In reality, the two parties have been equal partners in enforcing punishing neoliberal policies on the world working class. And after three decades of neoliberal rule, U.S. workers are no strangers to federal intervention.
Federally orchestrated bailouts, always justified by the slogan “They’re too big to fail” over the last 30 years have typically signaled a steep drop deeper down the economic ladder for those who actually work for their income. Congress has played an active role in forcing down working-class living standards since the Carter administration intervened to rescue Chrysler from bankruptcy in 1979. At the time, Congress refused to give Chrysler its $1.2 billion loan guarantee unless workers gave concessions totaling $462 million. This included a wage freeze and giving up seventeen vacation days

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