MUST WATCH: William Black on Bill Moyers: Geithner & Obama continuing a Cover Up of Fraud

[Junkdrawer]

Parts 1-3 and William Black pulls no punches on Democrats and Republicans in the current Banking Crisis

http://www.youtube.com/watch?v=CQ4JXW_ErXQ
http://www.youtube.com/watch?v=WOA1RpK7ttg
http://www.youtube.com/watch?v=vMDLx_-f1L4

Summary: The financial industry brought the economy to its knees, but how did they get away with it? With the nation wondering how to hold the bankers accountable, Bill Moyers sits down with William K. Black, the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s. Black offers his analysis of what went wrong and his critique of the bailout

(update) William K. Black is now an Associate Professor of Economics and Law at the University of Missouri.



http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x292268#292276

When asked for motives for the cover up, Mr. Black suggests it's possible it's being done to cover up criminal misdeeds on the part of all involved, but it may also be done to attempt to mask the full extent of the crisis.

[midnight]

1. So it wasn't the homeowners who destroyed this ecomomy

after all. Maybe, we can get some help when the dust settles.

[BlueDogMizzou]

119. That's like saying the guy driving the get-away car in a hold up

isn't part of the robbery. The people that took the fraudulent "liar" loans, need to go to jail with the CEOs etc. of these companies. The people that took these loans are losing their house because they can't pay the mortgage. When they get foreclosed on it brings down the property values of the people that didn't lie or cheat to get their houses.

[SOS]

129. The notion that a person can "cheat" to get a loan is absurd.

The person lending the money has 100% control of the transaction, the borrower has zero control.
The lenders based the entirety of the loan on the house value and refused to allow the borrower to even mention his job, assets or income.
As long as home prices went up, they were never refferred to as "liar loans".
Only when the bottom fell out of the housing market did Wall Street PR firms get to work blaming the borrower.
Fortunately that propaganda failed. 80% of Americans blame Wall Street and Bush for the collapse.

And while the housing bust triggered the house of cards collapse, it is a modest portion of bank indebtedness.

[EFerrari]

2. The interview is also available at Moyers' site.

I've watched it twice and may go for a third time. So much to take in.

[lostnotforgotten]

3. Bill Moyers Link To Interview

http://www.pbs.org/moyers/journal/04032009/watch.html

[malaise]

6. Read this as well

http://www.huffingtonpost.com/william-k-black/the-two-documents-everyon_b_169813.html
<snip>
Fraud is the principal credit risk of nonprime mortgage lending. It is impossible to detect fraud without reviewing a sample of the loan files. Paper loan files are bulky, so they are photographed and the images are stored on computer tapes. Unfortunately, "most investors" (the large commercial and investment banks that purchased nonprime loans and pooled them to create financial derivatives) did not review the loan files before purchasing nonprime loans and did not even require the lender to provide loan tapes.

The rating agencies never reviewed samples of loan files before giving AAA ratings to nonprime mortgage financial derivatives. The "AAA" rating is supposed to indicate that there is virtually no credit risk -- the risk is equivalent to U.S. government bonds, which finance refers to as "risk-free." We know that the rating agencies attained their lucrative profits because they gave AAA ratings to nonprime financial derivatives exposed to staggering default risk. A graph of their profits in this era rises like a stairway to heaven . We also know that turning a blind eye to the mortgage fraud epidemic was the only way the rating agencies could hope to attain those profits. If they had reviewed even small samples of nonprime loans they would have had only two choices: (1) rating them as toxic waste, which would have made it impossible to sell the nonprime financial derivatives or (2) documenting that they were committing, and aiding and abetting, accounting control fraud.

Worse, the S&P document demonstrates that the investment and commercial banks that purchased nonprime loans, pooled them to create financial derivatives, and sold them to others engaged in the same willful blindness. They did not review samples of loan files because doing so would have exposed the toxic nature of the assets they were buying and selling. The entire business was premised on a massive lie -- that fraudulent, toxic nonprime mortgage loans were virtually risk-free. The lie was so blatant that the banks even pooled loans that were known in the trade as "liar's loans" and obtained AAA ratings despite FBI warnings that mortgage fraud was "epidemic." The supposedly most financially sophisticated entities in the world -- in the core of their expertise, evaluating credit risk -- did not undertake the most basic and essential step to evaluate the most dangerous credit risk. They did not review the loan files. In the short and intermediate-term this optimized their accounting fraud but it was also certain to destroy the corporation if it purchased or retained significant nonprime paper.

[Junkdrawer]

7. Thanks. There's also a transcript there...

....

BILL MOYERS: Yeah. Are you saying that Timothy Geithner, the Secretary of the Treasury, and others in the administration, with the banks, are engaged in a cover up to keep us from knowing what went wrong?

WILLIAM K. BLACK: Absolutely.

BILL MOYERS: You are.

WILLIAM K. BLACK: Absolutely, because they are scared to death. All right? They're scared to death of a collapse. They're afraid that if they admit the truth, that many of the large banks are insolvent. They think Americans are a bunch of cowards, and that we'll run screaming to the exits. And we won't rely on deposit insurance. And, by the way, you can rely on deposit insurance. And it's foolishness. All right? Now, it may be worse than that. You can impute more cynical motives. But I think they are sincerely just panicked about, "We just can't let the big banks fail." That's wrong.

BILL MOYERS: But what might happen, at this point, if in fact they keep from us the true health of the banks?

WILLIAM K. BLACK: Well, then the banks will, as they did in Japan, either stay enormously weak, or Treasury will be forced to increasingly absurd giveaways of taxpayer money. We've seen how horrific AIG -- and remember, they kept secrets from everyone.

BILL MOYERS: A.I.G. did?

...

[World Traveller]

45. Obama is between a rock and a hard place- Collapse or Cover-up

"Are you saying that Timothy Geithner, the Secretary of the Treasury, and others in the administration, with the banks, are engaged in a cover up to keep us from knowing what went wrong?...
because they are scared to death. All right? They're scared to death of a collapse..."

Above is the "money quote". I am also disappointed that Obama seems to be giving the bankers a pass. On the other hand, I can see things from his perspective. He's not an economist. He's being told that this is his choice by those considered the best and brightest Democratic economics team from the Clinton years.

And they're not exaggerating. Collapse is a real possibility. So he's punting, since economic collapse in his first 6 months would NOT be a wise political choice.

I think there will be some designated fall guys who do get prosecuted eventually, when they feel the situation is more stable. But there the fraud has been SO MASSIVE, there simply aren't the resources or time available to prosecute everyone who deserves it.

[earth mom]

78. If Obama wants to be re-elected he better kick some Wall Street a$$ soon.

Maybe Obama doesn't realize it but people are turning on him because they want people held accountable for this massive fraud.

After 8 years of hell from *, people have had enough and they know that Wall Street and the Banks are nothing but a bunch of mafia-esque crooks.

If Obama is smart, he will save himself and the good people of this country by telling Wall Street and the Banks to go to hell which would make him a hero to the masses.

The last thing Obama needs is to be associated with a bunch of crooks.

Obama's continued association with them is shady at best.

[Buzz Clik]

99. How many days of observation is this based upon? Not quite 70?

I'm surprised he hasn't been impeached. :eyes:

[earth mom]

128. The writing is on the wall. Wake up and smell the corruption. nt

[Kaleko]

88. Spot on!

Faced with systemic corruption that has been allowed to spread for the last 30 years, Obama has no choice other than working WITH the banksters and complicit politicians until the threat of an economic free-fall is largely removed.

I still believe he is the good guy here. He's also too smart to get himself assassinated, hopefully.

[rucky]

122. Mandatory viewing!

thanks for posting this. It confirms the uneasy feeling that many of us have expressed around here (and have been shouted down for expressing).

[malaise]

4. Much better to watch it here

http://www.pbs.org/moyers/journal/04032009/watch.html

[Echo In Light]

5. "The best way to rob a bank is to own one" Thanks for posting n/t

[Dinger]

8. Holy Cow, That Is Damning!

From an Obama supporter too. Oh well, nothing to see here. Keep movin'.

[Buzz Clik]

9. "William K. Black is now an Assoc. Prof. of Economics and Law at Univ. of Missouri" at Kansas City

Just for the sake of accuracy.

The main campus of U. Missouri is in Columbia.

[terisan]

27. I would really like to see more professors and graduates of non-Ivy league universities

in Democratic administrations.


If you are familiar with the University of Missouri, would you provide us with your opinion on the quality of education there.

[Buzz Clik]

34. UMKC is about as non-Ivy League as you can get. It's a truly urban campus,..

... located in an inner city battle zone.

I have a friend who is on faculty at UMKC, and she is brilliant and a dedicated teacher.

[proud2BlibKansan]

72. UMKC is not in an urban battle zone

It is in a beautiful older residential area. NOT a "battle zone" in the least.

[Jazzgirl]

92. It is very non-Ivy League.

But it has a stellar academic reputation and its music conservatory is to die for. I know....I went there. :-)

[Buzz Clik]

98. Yes, the arts at UMKC are truly amazing. That cannot be said for the rest of the university.

[proud2BlibKansan]

71. He is a professor at UMKC in Kansas City

[Buzz Clik]

10. I wonder which is the more important job of a President in his first 100 days:

1) Fix the economy.
2) Pursue criminal punishment of anyone who committed a crime.

Man, that's a tough choice.

[Junkdrawer]

11. Fix the economy by handing $trillions to those who are likely guilty of fraud...

Good Plan...

[chimpymustgo]

12. Walk and chew gum. Pursuing criminal punishment might help fix the economy.

Seriously. Get all these torturers, warmongers and thieves OUT of the culture and behind bars. They are all of the same ilk.

[malaise]

15. Black made a very good point about airline safety improving

as a result of investigations by 'professionals' after crashes. They do not cover-up the problems and they do not let the airline involved do the investigations.

If these criminals are not weeded out and punished, they're taking the entire planet down with them.

What's more anyone who doesn't understand why Pres Obama was so subdued in Europe this week better understand that the Europeans damn well know what happened and how Bush's guys handed out bogus triple A ratings to these criminal financial institutions.

As Black said the elite institutions committed fraud with cover from Bushco.
Time to clean up this shit.

[INdemo]

19. Another point made by Black

Can we assume that excerpts from this interview will never make it to the MSM ..

BILL MOYERS: Yeah. Are you saying that Timothy Geithner, the Secretary of the Treasury, and others in the administration, with the banks, are engaged in a cover up to keep us from knowing what went wrong?

WILLIAM K. BLACK: Absolutely.

BILL MOYERS: You are.

...Another question about the firing of GM CEO and not the bank execs...Well there is a reason after all...

[azul]

22. Here here. Put Kucinich in as AG

and watch the feathers fly as the big birds are caged.

Why such a dearth of reps that believe in the rule of law and the constitution's obligations set on the house and senate? Sell-outs, villains?

[OmmmSweetOmmm]

29. Dennis isn't a lawyer.

[sattahipdeep]

68. "How do they get away with it?"

How did they get away with it_9/11/2001

BILL MOYERS: If I wanted to go looking for the parties to this, with a good bird dog, where would you send me?


WILLIAM K. BLACK: Well, that's exactly what hasn't happened. We haven't looked, all right? The Bush Administration essentially got rid of regulation.

....

"If you look at "WHO" was holding the majority of "SHORT" derivative positions on the domestic and international stock index markets prior to 911, and then reaped over a trillion dollars in profits within weeks from the ensuing collapse of those physical markets, you will find in that group who was responsible for 911. There is one problem in finding this out. That being, government controls the release of that information by and through the Federal agencies of the SEC Securities Exchange Commission and CFTC Commodities Futures Trading Commission."



Bird dog....BILL MOYERS: How is this happening? I mean why is it happening?

WILLIAM K. BLACK: Until you get the facts, it's harder to blow all this up. And, of course, the entire strategy is to keep people from getting the facts.

[Enthusiast]

76. That was a good point.

And the one I made about forensic files was also apt. If investigators can determine the guilt of a murderer on microscopic evidence, certainly they can investigate this fraud.

This entire fiasco can be examined, it is not too big. This stuff should be regulated to high heaven making it impossible for abuses to happen again.

[Pharlo]

13. Mutually exclusive goals?

If so, perhaps he's not the right person for the job.

Part of fixing the economy is criminally punishing those who committed the crimes that created the economic crisis. As long as the individuals who 'broke' the economy remain in charge of 'fixing' the economy, it won't get fixed. THAT is the point of William Black's argument. I saw the broadcast. I would strongly recommend anyone who did not watch it do so.

[SammyWinstonJack]

14. .

:thumbsup:

[frylock]

64. well stated

[Buzz Clik]

97. What's this??!!! Someone at DU suggesting Obama is the wrong person for the job? That's a first...

:rofl:

You must be in the enviable position of feeling that getting retribution against the money makers is far more important than decreasing economic vulnerability. Good for you. Maybe you can help fund the pursuit of the "criminals".

[Pharlo]

114. But, I didn't say Obama was the wrong person for the job.

I said anyone who could only concentrate on one issue at a time is the wrong person for the job.

Now, exactly why are 'pursuing the criminals' and 'decreasing economic vulnerability' considered mutually exclusive?

Using that logic, we can't bailout the US economy, because we need that money for the military actions in Iraq and Afghanistan.

[frylock]

63. neither of which is mutually exclusive

[Reterr]

69. Again I think people are worried about direction here

2) Pursue criminal punishment of anyone who committed a crime.
No one is suggesting that.

[Marr]

113. Sometimes they're one and the same.

Like now, for instance.

[Buzz Clik]

127. In your view, perhaps.

[rucky]

123. How about fixing the economy without giving money to the suspects?

[chimpymustgo]

16. This must remain kicked. And VIEWED.

[HughMoran]

17. This reminds me of the Peabody Award winning "This American Life: The Giant Pool of Money"

If you haven't listened to this, you must - it was amazing that in May of 2008, the scope of the bad mortgages was presented in this show.

05.09.2008 355: The Giant Pool of Money


A special program about the housing crisis produced in a special collaboration with NPR News. We explain it all to you. What does the housing crisis have to do with the turmoil on Wall Street? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s? It all comes back to the Giant Pool of Money.

http://www.thislife.org/Radio_Episode.aspx?sched=1242

[notadmblnd]

18. hence Obama's comment that he's the only one between the bankers and the pitchforks.

[scarletwoman]

20. Why should we put up with letting this criminal behavior get swept under the rug?

Why should we keep our mouths shut and "trust" Obama when HIS own people are hip deep in all of this?

We CAN'T let these people get away with what they've done.

sw

[Junkdrawer]

21. And what they're DOING....

Reports are now that Goldman Sachs has used bailout money to buy distressed assets at 20 to 30 cents on the dollar...KNOWING that under Geithner's plan, the government would subsidize an 80 to 90 cents on the dollar price.

[scarletwoman]

23. So, are we going to put up with this?

I'm nearly incoherent with outrage. If one more DUer posts another whining thread about "giving Obama more time", I'm likely to go postal...

:nuke:

[MadBadger]

58. Do you promise to?

[scarletwoman]

60. Try me.

[MadBadger]

61. Oka,y, I just may.

[Two Americas]

107. priorities

We can't investigate the criminals right now.

First we have to get the criminal syndicate back up and running.


...

[scarletwoman]

108. Apparently that's the plan. Although I sorta doubt that step 2 (investigate) is part of it.

Oh well. The silver lining in all this (such as it is) is that it ought to permanently disabuse people of the notion that ANY politician is ever going to put their needs ahead of what the Owner Class wants.

In fact, the Washington political class (including "our" President) is wholly beholden to the Owners and that is who they serve. We are merely herd animals, it is the politician's job to prevent us from disturbing the carefully wrought power arrangements of those whom they truly serve.

sw

[Two Americas]

109. no need for step two

That is the beauty of it. Once we get the criminal syndicate back up and running, there will be no need for step two. It would just be "fighting the battles of the past" and we will need to move past partisanship and let the nation heal. You know - for the good of the country.

One would think that it ought to permanently disabuse people of the notion that ANY politician is ever going to put their needs ahead of what the Owner Class wants. But it seems to be having the opposite effect on many people.


...

[scarletwoman]

110. It's hard to let go of a cherished illusion. People will fight reality tooth and nail if it clashes

with their illusions.

I feel another thread coming on... }(

sw

[tomp]

24. you can't watch this and still think obama is the man.

he is a player in the coverup. whether knowledgeable or not, he is involved and he is wrong.

obama=not change.

[WillyT]

25. Big K & R !!!

:kick:

[gulfcoastliberal]

26. K&R... nt

[hootinholler]

28. I saw it last night

He presented a cogent explanation, and I'm astonished I haven't seen his ideas presented in the press before.

-Hoot

[pmorlan1]

86. Media's Role

This was one of Moyer's best shows. The second half of the show with Glenn Greenwald & Amy Goodman addressed your point about the media. They talked about how the establishment media is designed to protect the status quo so, therefore, you won't see this type of information in our MSM. It was a very hard hitting show. I wish everyone could see it.

[omega minimo]

30. .

[galileoreloaded]

31. Kick for the rejection of institutionalized fraud. No matter the party. N/t

[ProSense]

32. Good grief. This claim about the savings and loans has nothing to

with the issue of nationalizing the large financial institutions. Banks are nationalized all the time. The claim is not only wrong, it's stupid.

[slipslidingaway]

33. Senator Dorgan S. Res. 62 - Investigate economic crisis....

http://www.govtrack.us/congress/bill.xpd?bill=sr111-62

"A resolution establishing a select committee of the Senate to make a thorough and complete study and investigation of the facts and circumstances giving rise to the economic crisis facing the United States and to make recommendations to prevent a future recurrence of such a crisis."

[ProSense]

35. If anyone is interested in how wrong this assessment is

read this diary and the comments refuting the claim, which the law that was cited actually does.

If people are going to throw up something as damning evidence, they need to deal with facts and stop relying on distortions.

[omega minimo]

36. what is the refutation? if you're throwing something out and accusing of "relying on distortions"

[ProSense]

37. Here

link

Don't ask me to summarize what you can read for yourself. The facts are clear.

[omega minimo]

40. bullshit. make your point. back up your accusations. lame.

:thumbsdown:

[Junkdrawer]

41. Oh, yeah...well if you look HERE you'll find evidence that you're completely wrong...

http://www.google.com

And don't ask me to do your work for you....

[omega minimo]

44. o no you di nt

:spray:

[ProSense]

47. You just want to believe what you want. Maybe you should use Google to do some research

before accepting BS as fact.

[flyarm]

55. yes lets use Google shall we and see who is tied to Obama/Giethner/ Summers and why, shall we??????

LETS SEE WHO Obama is hiring and who he has had representing his administration so far, shall we???????


Kissinger..shortly after Obama took office , KISSINGER WAS SENT TO RUSSIA BY OBAMA TO REPRESENT HIS ADMINISTRATION..


lets take a simple look at Geithner and Summers shall we?????



Remarks by National Security Adviser Jones at 45th Munich Conference on Security Policy

Published February 8, 2009
Speaker: James L. Jones


U.S. National Security Adviser Jones ( edit to add: new advisor hired by Obama!!!!) gave these remarks at the 45th Munich Conference on Security Policy at the Hotel Bayerischer Hof on February 8, 2009.

"Thank you for that wonderful tribute to Henry Kissinger yesterday. Congratulations. As the most recent National Security Advisor of the United States, I take my daily orders from Dr. Kissinger, filtered down through General Brent Scowcroft and Sandy Berger, who is also here. We have a chain of command in the National Security Council that exists today.


Source: http://www.cfr.org/publication/18515/remar... ...


..............................................................


now add this ..to this>>>>>>>>>>>>
http://www.democraticunderground.com/discu... ...


Oh Goody- Obama attempts to appoint another Goldman Sachs exec who worked with Phil Gramm

I reported back in February on the case of Gary Gensler, the former Goldman Sachs employee and derivatives cheerleader who President Obama nominated to head the Commodity Futures Trading Commission (CFTC). Gensler’s nomination sailed through the Senate Agricultural Committee but Senator Bernie Sanders has placed a hold on the nomination (as has a second senator who is as yet unnamed). A statement from Sanders’s office said:

While Mr. Gensler is clearly an intelligent and knowledgeable person, I cannot support his nomination. Mr. Gensler worked with Sen. Phil Gramm and Alan Greenspan to exempt credit default swaps from regulation, which led to the collapse of A.I.G. and has resulted in the largest taxpayer bailout in U.S. history. He supported Gramm-Leach-Bliley, which allowed banks like Citigroup to become “too big to fail.” He worked to deregulate electronic energy trading, which led to the downfall of Enron and the spike in energy prices. At this moment in our history, we need an independent leader who will help create a new culture in the financial marketplace and move us away from the greed, recklessness and illegal behavior which has caused so much harm to our economy.
http://harpers.org/archive/2009/03/hbc-900...

...........................................................

this kissinger:

http://www.youtube.com/watch?v=GThfWVCfjVo... ://...

"There is a need for a new world order," Kissinger told PBS interviewer Charlie Rose last year, "I think that at the end of this administration, with all its turmoil, and at the beginning of the next, we might actually witness the creation of a new order – because people looking in the abyss, even in the Islamic world, have to conclude that at some point, ordered expectations must return under a different system."

.................................................

This is the Kissinger Obama sent to Russia........representing his administration..

http://www.theatlantic.com/issues/82may/he...


Kissinger and Nixon in the White House
by Seymour M. Hersh


http://www.commondreams.org/views02/0611-0...


and that is just for starters!!


http://www.democraticunderground.com/discu... ...

Larry Summers and California Energy "crisis" / Enron

During the California energy crisis of 2000, then-Treasury Secretary Larry Summers teamed with Alan Greenspan and Enron executive Kenneth Lay to lecture California Governor Gray Davis on the causes of the crisis, explaining that the problem was excessive government regulation.<8> Under the advice of Kenneth Lay, Summers urged Davis to relax California's environmental standards in order to reassure the markets.




KISSINGER WHO HAS A 40+ YEAR WORKING RELATIONSHIP WITH THE ROCKEFELLER'S, AND HAS WORKED EXTENSIVELY FOR THE SAUDI'S was sent by the Obama administration to Russia shortly after Obama took office...whyyyyyyyyyyy??????????

Geithner..who worked for Kissinger and the CFR

Geithner..who's papa Peter F.Geithner was with the Ford Foundation and Obama's mom just happened to work with him!!

Any wonder why the GM CEO was made to step down..the very day that Ford announced it was opening a plant in Mexico..the znnouncement took place at the Pres of Mexico's palace..and do not miss the very fact that the CEO of Ford said : Mr Mullaly said: "We are convinced the geographic location as well as Mexico's highly qualified labour force and economic stability make this decision the right one for our business."

That would be 4,500 jobs Americans will not get!!


http://news.bbc.co.uk/2/hi/americas/742895...


A LITTLE DEEPER LOOK ..YOU WILL FIND THIS OUT..


Peter F. Geithner, is the director of the Asia program at the Ford Foundation in New York. During the early 1980s, Peter Geithner oversaw the Ford Foundation's microfinance programs in Indonesia being developed by S. Ann Dunham-Soetoro, President Barack Obama's mother, and they met in person at least once

Geithner's maternal grandfather, Charles F. Moore, was an adviser to President Dwight D. Eisenhower and served as a vice president of Ford Motor Company.



young people..please do some research on Kissinger..the man Obama sent to Russia

shortly after taking office..to represent his "NEW" administration.....

The man who's Nick Name is "THE BUTCHER OF CAMBODIA"

I will help you out a bit here..


KISSINGER.. who GWBUSH named to run the 9/11 coverup commission..he left the commission after families of 9/11 objected so loudly and angrily. ( thanks to the Jersey girls)

Kissinger's Back...As 9/11 Truth-Seeker posted by David Corn on 11/27/2002 @ 4:19pm

http://www.thenation.com/blogs/capitalgame...


SNIP:
Asking Henry Kissinger to investigate government malfeasance or nonfeasance is akin to asking Slobodan Milosevic to investigate war crimes. Pretty damn akin, since Kissinger has been accused, with cause, of engaging in war crimes of his own. Moreover, he has been a poster-child for the worst excesses of secret government and secret warfare. Yet George W. Bush has named him to head a supposedly independent commission to investigate the nightmarish attacks of September 11, 2001, a commission intended to tell the public what went wrong on and before that day. This is a sick, black-is-white, war-is-peace joke--a cruel insult to the memory of those killed on 9/11 and a screw-you affront to any American who believes the public deserves a full accounting of government actions or lack thereof. It's as if Bush instructed his advisers to come up with the name of the person who literally would be the absolute worst choice for the post and, once they had, said, "sign him up."


SNIP:

Vietnam. Kissinger participated in a GOP plot to undermine the 1968 Paris peace talks in order to assist Richard Nixon's presidential campaign. Once in office, Nixon named Kissinger his national security adviser, and later appointed him secretary of state. As co-architect of Nixon's war in Vietnam, Kissinger oversaw the secret bombing campaign in Cambodia, an arguably illegal operation estimated to have claimed the lives of hundreds of thousands of civilians.


SNIP:

Chile. In the early 1970s, Kissinger oversaw the CIA's extensive covert campaign that assisted coup-plotters, some of whom eventually overthrew the democratically-elected government of Salvador Allende and installed the murderous military dictatorship of Augusto Pinochet. On June 8, 1976, at the height of Pinochet's repression, Kissinger had a meeting with Pinochet and behind closed doors told him that "we are sympathetic to what you are trying to do here," according to minutes of the session (which are quoted in Peter Kornbluh's forthcoming book, The Pinochet File.)

SNIP:

In another lawsuit, filed earlier this month, eleven Chilean human rights victims--including relatives of people murdered after Pinochet's coup--claimed Kissinger knowingly provided practical assistance and encouragement to the Pinochet regime. Kissinger's codefendant in the case is Michael Townley, an American-born Chilean agent who was a leading international terrorist in the mid-1970s. In his most notorious operation, Townley in 1976 planted a car-bomb that killed Orlando Letelier, Allende's ambassador to the United States, and Ronni Moffitt, Letelier's colleague, on Washington's embassy row.



so ask yourself..if Obama is so different..why did he have Kissinger represent his administration in Russia???????????

The very MAN WHO HAS WORKED WITH THE FOLLOWING ADMINSTRATIONS...NIXON, FORD , REAGAN, GH BUSH, AND BUSHY& CHENEY ADMINISTRATION..AND was a constant visitor to the Bush /Cheney WHITE HOUSE and advisor on the Iraq war????????

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

WSJ: Citi's Chief Economist Leaves for Treasury Post


Source: The Wall Street Journal

Citigroup Inc.'s chief economist is leaving the New York company for a job at the U.S. Treasury Department, according to an internal Citigroup memo.

Lewis Alexander, who has been at Citigroup since 1999 and before that worked at the Federal Reserve, will head to Treasury "to work on domestic financial issues," said the Citigroup memo, which was sent Tuesday.

According to a government official, Mr. Alexander will be a counselor to Treasury Secretary Timothy Geithner. Mr. Alexander and a Treasury spokesman weren't immediately available to comment Tuesday. A Citigroup spokesman declined to elaborate on the company's memo.
(...)
Mr. Alexander's role as Citigroup's chief economist didn't entail significant management responsibilities. But his optimistic economic forecasts colored executives' views that the U.S. was unlikely to face a prolonged slump.

Read more: http://online.wsj.com/article/SB1237327471...

anyone have warm fuzzies yet?????????

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

who can make this crap up???????????


http://www.telegraph.co.uk/news/worldnews/... /...

Despite his pariah status with many Left-wingers in Mr Obama's Democratic Party, the president forged relations with Mr Kissinger during his campaign.

The compliment was returned when the 85-year-old veteran of the Nixon and Ford administrations said last month that the young president was in a position to create a "new world order" by shifting US foreign policy away from the hostile stance of the Bush administration.

He publicly supported Mr Obama's notion of unconditional talks with Iran, though not at the presidential level.

Further demonstrating his willingness to work with his opponents on foreign policy issues, Mr Obama turned to two veteran Republicans steeped in Cold War experience to press home his plans.

Shortly after Mr Kissinger's trip, Richard Lugar, a Republican senator from Indiana who has worked on nuclear disarmament issues for 30 years, also visited Moscow. George Schultz, another former secretary of state, has also played a vital role.

[KoKo]

70. Summers going with Greenspan and Keny Lay to Lecture Gray Davis was new to me.

Thanks for the link... I just don't believe the leopard can change it's spots... Summers and Geithner need to go before they derail the Obama Administration. There's no way we get banking reform, healthcare or better workers rights with those two and their cronies around.

-----


During the California energy crisis of 2000, then-Treasury Secretary Larry Summers teamed with Alan Greenspan and Enron executive Kenneth Lay to lecture California Governor Gray Davis on the causes of the crisis, explaining that the problem was excessive government regulation.<8> Under the advice of Kenneth Lay, Summers urged Davis to relax California's environmental standards in order to reassure the markets.

[flyarm]

93. We also know Arnie was in on some of those meetings as well...don't we ??

it was exposed here for a very long time when Arnie was stealing the governorship in CA.

Stunning that these same crooks are all onboard with Obama isn't it??????

But it isn't to many of us who have paid close attention!!

[flyarm]

94. We also know Arnie was in on some of those meetings as well...don't we ??

it was exposed here for a very long time when Arnie was stealing the governorship in CA.

Stunning that these same crooks are all onboard with Obama isn't it??????

But it isn't to many of us, who have paid close attention!!

[chimpymustgo]

133. Why do you think Obama picked Summers and Geithner?

[waiting for hope]

112. +1 and infinity -

Like to hear now from the apologists who all were saying that the change was going to trickle down from Obama. I so wanted to see Obama really take this head on, but the people he has chosen to handle this mess are the ones that helped create it. Did Obama's vetting process suck that badly? I don't think so.

[omega minimo]

56. what's that you say? before accepting Kos as fact?

The law quoted there appears to apply as described on Moyers, unless someone wants to argue "shall" and "may" all day long. Is there more to your point you want us to figure out for you?

:shrug:

[Junkdrawer]

38. 1069 comments...On another website...And .I'm supposed to sort through those...

and find the ones the support your point?

Uh, yeah....:eyes:

[ProSense]

39. OK, don't. Read William Black

lied.

[omega minimo]

42. that's a slippery slope you're planting your pronouncements on, PS

[slipslidingaway]

46. Reading through some of the comments it does not look as

clear cut as the poster on KOS suggested.

[Cowpunk]

53. Wow, that's great!

So Citibank is an investment bank, not a retail bank?

I guess that means I don't have to pay back the $12,000 I owe on my Citibank credit card.

Thanks for the info!

[amandabeech]

132. Citibank is a real bank. Citigroup is a financial conglomerate.

Citibank is a subsidiary of Citigroup. Other subsidiaries of Citigroup include those that do investment banking work.

Theoretically, I would imagine that if Citigroup wants a greater cash infusion, Obama could hold Citigroup hostage by not giving it the money and demand big changes, like he did with GM.

Citigroup could, again theoretically, spin off Citibank, which could then be put into receivership by the FDIC, if necessary.

The rest of Citigroup could be forced to reorganize outside bankruptcy court in order to get additional operating cash infusions, just like GM.

I don't see the Obama administration doing anything like that, however.

[slipslidingaway]

62. Some direct links to comments on Black lied...

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=5390234&mesg_id=5390423


"Pot calling the kettle black - you are half wrong"

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=5390234&mesg_id=5390376


I'm not clear on all of the laws, so I'm not as willing to accept this poster's analysis, there are other comments as well.

[SOS]

95. That article is junk

A quote from the linked Kos diary, declaring that Black "lied":

"And, by the way, the FDIC has been seizing commercial banks, including Washington Mutual when it has determined it to be necessary."

Nonsense. The author didn't bother to do five minutes of research.

The Office of Thrift Supervision seized Washington Mutual Bank from Washington Mutual, Inc. and placed it into FDIC receivership.
The FDIC sold the Washington Mutual Bank to JP Morgan Chase.
The holding company, Washington Mutual, Inc. went bankrupt.

Holding up the sloppy work of a Kos diarist against the expertise of the former Chief Counsel at the Office of Thrift Supervision is a losing proposition.

[muryan]

105. Could've just read the OP

Seeing as how what they had to say was worth garnering 1069 comments.

[western mass]

43. If you can't summarize the argument...

you've added nothing to this discussion but empty hand-waving.

[jimmybama]

48. What about Alphonse D'Amato's role in all this?

Well?

[Reterr]

67. Seriously-such bullshit

Links within links within links proving nothing. If there is an actual point you should be able to make it without requiring that people read 50 diaries you posted, each with links within links.

[flyarm]

50. oh ok..i get it..ignore William Black and read anonymous poster on Daily Kos..

gotcha..so ignore a man who was involved in cleaning up the savings and loan crimes..and read Daily Obama..I mean Kos..
so you are telling us..Bill Moyer's put on a buffoon on his show who lied to him and all of us..and you are telling us to
Ignore..William Black..an Assoc. Prof. of Economics and Law at Univ. of Missouri" at Kansas City and read Daily Kos..and someone who we do not know ...telling us Moyer's guest was full of bullshit...we are to believe ??????? a daily kos diary over William Black..

sorry..I went to UMKC...and lived in KC for 16 years and know the reputation of UMKC..i am not buying the deflections ..to daily kos!

edited to remove some of my comments..i am pissed big time..

[frylock]

65. unfuckingbelievable ignorance around here these days..

there's a handful of people around here who simply cannot deal with the reality of this situation. your post has summed it up perfectly. citing an anonymous poster on KOS as authority over Mr. Black is the absolute height of absurdity. but these are the same people who'll give Clinton a pass for not doing jack krap about BCCI cuz he has a big dee behind his title/name.

[muryan]

104. I believe the letter of the law

over what Black claims it to be. Stop hero worshiping some economist because he says something that you like. Also, by all means trash dailykos, a website that is gaining an ever increasing share of political traffic. I wonder why

[Reterr]

66. How do the dairy or the comments prove it is wrong

It is basically a difference of opinions. None of your links prove anything (though inserting them like that does seem to have the psychological effect of convincing many people of the accuracy of your view point). That diary bolsters the OP and there are lots of comments that prove nothing :shrug:?

[muryan]

103. The word OR carries meaning

Claiming that the administration is breaking the law by not nationalizing the banks is one of Black's main points, he couldn't be more wrong on that charge.

[flyarm]

101. READ THIS LINK AT TALK LEFT AND COMMENTS ..they pretty well refute the kos Diary!

Many comments on this link at "TALK LEFT" DISPUTE THE DIARY AT KOS
READ THE COMMENTS ON THIS LINK!

http://www.talkleft.com/story/2009/4/4/12103/91325

[Junkdrawer]

106. Great link.

:hi:

[ProSense]

115. More declarations without facts.

Just take control of the bank

[waiting for hope]

118. The poster of the dairy at Kos is

one of the biggest Obama cheerleaders - not surprised at the deflection.

[Junkdrawer]

121. Note how that diary doesn't address the Cover Up of Fraud allegations...

and instead engages in a deflection from those issues...

[Pale Blue Dot]

125. EXACTLY.

Thank you.

[PufPuf23]

49. Agree -- watch these youtubes

The problem is that the administration is trying to repair the status quo rather than massive reform.

Obama should be prescriptive in what regulations that are to be instituted ASAP.

Re-institution of the bank holding company limitations which would break up the large financial institutions that are "too big to fail" is a must as well as regulation of the derivative markets.

The Goldman Sachs - NY Fed - US Treasury circle jerk is unsettling.

The truth is out there and needs to be fully revealed and all we get is insiders alas.

[antimatter98]

51. Thanks for this diary/posting. We need to see reality. Thanks. n/t

[Cowpunk]

52. How can anyone with a conscience still support Geitner/Summers?

Today we found out in the Washington Post that they intend to circumvent written law and launder bailout funds through "special entities" to ensure that the banking fatcats who turned our financial system into a GIANT PONZI SCEME continue to receive their bonuses:

The Obama administration is engineering its new bailout initiatives in a way that it believes will allow firms benefiting from the programs to avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials.

Administration officials have concluded that this approach is vital for persuading firms to participate in programs funded by the $700 billion financial rescue package.

The administration believes it can sidestep the rules because, in many cases, it has decided not to provide federal aid directly to financial companies, the sources said. Instead, the government has set up special entities that act as middlemen, channeling the bailout funds to the firms and, via this two-step process, stripping away the requirement that the restrictions be imposed, according to officials.

Although some experts are questioning the legality of this strategy, the officials said it gives them latitude to determine whether firms should be subject to the congressional restrictions, which would require recipients to turn over ownership stakes to the government, as well as curb executive pay.

The administration has decided that the conditions should not apply in at least three of the five initiatives funded by the rescue package.

How much more evidence could the Obamabots possibly need that the inmates are running the asylum, just as they have for the last decade in which this disaster was created?

[flyarm]

57. They can't and let me repeat one of my posts about Geithner and Kissinger

LETS SEE WHO Obama is hiring and who he has had representing his administration so far, shall we???????


Kissinger..shortly after Obama took office , KISSINGER WAS SENT TO RUSSIA BY OBAMA TO REPRESENT HIS ADMINISTRATION..


lets take a simple look at Geithner and Summers shall we?????



Remarks by National Security Adviser Jones at 45th Munich Conference on Security Policy

Published February 8, 2009
Speaker: James L. Jones


U.S. National Security Adviser Jones ( edit to add: new advisor hired by Obama!!!!) gave these remarks at the 45th Munich Conference on Security Policy at the Hotel Bayerischer Hof on February 8, 2009.

"Thank you for that wonderful tribute to Henry Kissinger yesterday. Congratulations. As the most recent National Security Advisor of the United States, I take my daily orders from Dr. Kissinger, filtered down through General Brent Scowcroft and Sandy Berger, who is also here. We have a chain of command in the National Security Council that exists today.


Source: http://www.cfr.org/publication/18515/remar... ...


..............................................................


now add this ..to this>>>>>>>>>>>>
http://www.democraticunderground.com/discu... ...


Oh Goody- Obama attempts to appoint another Goldman Sachs exec who worked with Phil Gramm

I reported back in February on the case of Gary Gensler, the former Goldman Sachs employee and derivatives cheerleader who President Obama nominated to head the Commodity Futures Trading Commission (CFTC). Gensler’s nomination sailed through the Senate Agricultural Committee but Senator Bernie Sanders has placed a hold on the nomination (as has a second senator who is as yet unnamed). A statement from Sanders’s office said:

While Mr. Gensler is clearly an intelligent and knowledgeable person, I cannot support his nomination. Mr. Gensler worked with Sen. Phil Gramm and Alan Greenspan to exempt credit default swaps from regulation, which led to the collapse of A.I.G. and has resulted in the largest taxpayer bailout in U.S. history. He supported Gramm-Leach-Bliley, which allowed banks like Citigroup to become “too big to fail.” He worked to deregulate electronic energy trading, which led to the downfall of Enron and the spike in energy prices. At this moment in our history, we need an independent leader who will help create a new culture in the financial marketplace and move us away from the greed, recklessness and illegal behavior which has caused so much harm to our economy.
http://harpers.org/archive/2009/03/hbc-900...

...........................................................

this kissinger:

http://www.youtube.com/watch?v=GThfWVCfjVo... ://...

"There is a need for a new world order," Kissinger told PBS interviewer Charlie Rose last year, "I think that at the end of this administration, with all its turmoil, and at the beginning of the next, we might actually witness the creation of a new order – because people looking in the abyss, even in the Islamic world, have to conclude that at some point, ordered expectations must return under a different system."

.................................................

This is the Kissinger Obama sent to Russia........representing his administration..

http://www.theatlantic.com/issues/82may/he...


Kissinger and Nixon in the White House
by Seymour M. Hersh


http://www.commondreams.org/views02/0611-0...


and that is just for starters!!


http://www.democraticunderground.com/discu... ...

Larry Summers and California Energy "crisis" / Enron

During the California energy crisis of 2000, then-Treasury Secretary Larry Summers teamed with Alan Greenspan and Enron executive Kenneth Lay to lecture California Governor Gray Davis on the causes of the crisis, explaining that the problem was excessive government regulation.<8> Under the advice of Kenneth Lay, Summers urged Davis to relax California's environmental standards in order to reassure the markets.




KISSINGER WHO HAS A 40+ YEAR WORKING RELATIONSHIP WITH THE ROCKEFELLER'S, AND HAS WORKED EXTENSIVELY FOR THE SAUDI'S was sent by the Obama administration to Russia shortly after Obama took office...whyyyyyyyyyyy??????????

Geithner..who worked for Kissinger and the CFR

Geithner..who's papa Peter F.Geithner was with the Ford Foundation and Obama's mom just happened to work with him!!

Any wonder why the GM CEO was made to step down..the very day that Ford announced it was opening a plant in Mexico..the znnouncement took place at the Pres of Mexico's palace..and do not miss the very fact that the CEO of Ford said : Mr Mullaly said: "We are convinced the geographic location as well as Mexico's highly qualified labour force and economic stability make this decision the right one for our business."

That would be 4,500 jobs Americans will not get!!


http://news.bbc.co.uk/2/hi/americas/742895...


A LITTLE DEEPER LOOK ..YOU WILL FIND THIS OUT..


Peter F. Geithner, is the director of the Asia program at the Ford Foundation in New York. During the early 1980s, Peter Geithner oversaw the Ford Foundation's microfinance programs in Indonesia being developed by S. Ann Dunham-Soetoro, President Barack Obama's mother, and they met in person at least once

Geithner's maternal grandfather, Charles F. Moore, was an adviser to President Dwight D. Eisenhower and served as a vice president of Ford Motor Company.



young people..please do some research on Kissinger..the man Obama sent to Russia

shortly after taking office..to represent his "NEW" administration.....

The man who's Nick Name is "THE BUTCHER OF CAMBODIA"

I will help you out a bit here..


KISSINGER.. who GWBUSH named to run the 9/11 coverup commission..he left the commission after families of 9/11 objected so loudly and angrily. ( thanks to the Jersey girls)

Kissinger's Back...As 9/11 Truth-Seeker posted by David Corn on 11/27/2002 @ 4:19pm

http://www.thenation.com/blogs/capitalgame...


SNIP:
Asking Henry Kissinger to investigate government malfeasance or nonfeasance is akin to asking Slobodan Milosevic to investigate war crimes. Pretty damn akin, since Kissinger has been accused, with cause, of engaging in war crimes of his own. Moreover, he has been a poster-child for the worst excesses of secret government and secret warfare. Yet George W. Bush has named him to head a supposedly independent commission to investigate the nightmarish attacks of September 11, 2001, a commission intended to tell the public what went wrong on and before that day. This is a sick, black-is-white, war-is-peace joke--a cruel insult to the memory of those killed on 9/11 and a screw-you affront to any American who believes the public deserves a full accounting of government actions or lack thereof. It's as if Bush instructed his advisers to come up with the name of the person who literally would be the absolute worst choice for the post and, once they had, said, "sign him up."


SNIP:

Vietnam. Kissinger participated in a GOP plot to undermine the 1968 Paris peace talks in order to assist Richard Nixon's presidential campaign. Once in office, Nixon named Kissinger his national security adviser, and later appointed him secretary of state. As co-architect of Nixon's war in Vietnam, Kissinger oversaw the secret bombing campaign in Cambodia, an arguably illegal operation estimated to have claimed the lives of hundreds of thousands of civilians.


SNIP:

Chile. In the early 1970s, Kissinger oversaw the CIA's extensive covert campaign that assisted coup-plotters, some of whom eventually overthrew the democratically-elected government of Salvador Allende and installed the murderous military dictatorship of Augusto Pinochet. On June 8, 1976, at the height of Pinochet's repression, Kissinger had a meeting with Pinochet and behind closed doors told him that "we are sympathetic to what you are trying to do here," according to minutes of the session (which are quoted in Peter Kornbluh's forthcoming book, The Pinochet File.)

SNIP:

In another lawsuit, filed earlier this month, eleven Chilean human rights victims--including relatives of people murdered after Pinochet's coup--claimed Kissinger knowingly provided practical assistance and encouragement to the Pinochet regime. Kissinger's codefendant in the case is Michael Townley, an American-born Chilean agent who was a leading international terrorist in the mid-1970s. In his most notorious operation, Townley in 1976 planted a car-bomb that killed Orlando Letelier, Allende's ambassador to the United States, and Ronni Moffitt, Letelier's colleague, on Washington's embassy row.



so ask yourself..if Obama is so different..why did he have Kissinger represent his administration in Russia???????????

The very MAN WHO HAS WORKED WITH THE FOLLOWING ADMINSTRATIONS...NIXON, FORD , REAGAN, GH BUSH, AND BUSHY& CHENEY ADMINISTRATION..AND was a constant visitor to the Bush /Cheney WHITE HOUSE and advisor on the Iraq war????????

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

WSJ: Citi's Chief Economist Leaves for Treasury Post


Source: The Wall Street Journal

Citigroup Inc.'s chief economist is leaving the New York company for a job at the U.S. Treasury Department, according to an internal Citigroup memo.

Lewis Alexander, who has been at Citigroup since 1999 and before that worked at the Federal Reserve, will head to Treasury "to work on domestic financial issues," said the Citigroup memo, which was sent Tuesday.

According to a government official, Mr. Alexander will be a counselor to Treasury Secretary Timothy Geithner. Mr. Alexander and a Treasury spokesman weren't immediately available to comment Tuesday. A Citigroup spokesman declined to elaborate on the company's memo.
(...)
Mr. Alexander's role as Citigroup's chief economist didn't entail significant management responsibilities. But his optimistic economic forecasts colored executives' views that the U.S. was unlikely to face a prolonged slump.

Read more: http://online.wsj.com/article/SB1237327471...

anyone have warm fuzzies yet?????????

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

who can make this crap up???????????


http://www.telegraph.co.uk/news/worldnews/... /...

Despite his pariah status with many Left-wingers in Mr Obama's Democratic Party, the president forged relations with Mr Kissinger during his campaign.

The compliment was returned when the 85-year-old veteran of the Nixon and Ford administrations said last month that the young president was in a position to create a "new world order" by shifting US foreign policy away from the hostile stance of the Bush administration.

He publicly supported Mr Obama's notion of unconditional talks with Iran, though not at the presidential level.

Further demonstrating his willingness to work with his opponents on foreign policy issues, Mr Obama turned to two veteran Republicans steeped in Cold War experience to press home his plans.

Shortly after Mr Kissinger's trip, Richard Lugar, a Republican senator from Indiana who has worked on nuclear disarmament issues for 30 years, also visited Moscow. George Schultz, another former secretary of state, has also played a vital role.

[merkins]

54. Come Senators, Congressmen

Come Senators, Congressmen
Please heed the call
Don't stand in the doorway
Don't block up the hall

For he that gets hurt
Will be he who has stalled
There's a battle outside
And it's ragin'

It'll soon shake your windows
And rattle your walls
For the times they are a-changin'

- Dylan

[Octafish]

59. William Black wrote about ''Control Fraud''

That's when the executives use their power to loot the company, Bush-style.

Read all about it:

Know your BFEE: Goldmine Sacked or The Best Way to Rob a Bank Is to Own One

Want to know where all that money seems to have gone:

Know your BFEE: Phil Gramm, the Meyer Lansky of the War Party, Set-Up the Biggest Bank Heist Ever.

[truedelphi]

83. Thanks for adding these additional links

Octafish, I always respect your insights and information

[progressoid]

73. I will NOT WATCH this guy.

He dares to criticize our president.

La la la la la la

[MasonJar]

74. There is an arfticle out today that states that Obama and his advisors

are putting together a two step bailout so that the government goes through a middleman and can thus avoid the new Congressional regulatory laws limiting financial/bank executive salaries. Yesterday the big headline was that Summers made $5 million last year from the same financial institutions (including Goldman Sachs) that he is now supposed to be advising Obama about. If Obama does not get a handle on this fiasco, then it will legitimately become his disaster and rightfully so. He may not be an economist, but he is plenty savvy. He is the one refusing to get rid of Geithner, Summers et al. He is the one who allowed a man who didn't pay his taxes to be Treasury Secretary. He is the one who relaxed his own anti-lobbying rules to let more than one lobbyist into the administration. He is the one that decided labor contracts could be broken, but the shoddy and unscrupulous crooks at AIG, Citibank, etcs. could keep their ill begotten bonuses since they had a contract. I am very disappointed because once again the citizens who work hard and pay taxes are getting the shaft so that big business interests can thrive on our dime.,

[KoKo]

77. It's early in Obama's administration...he needs to replace both of them

before they do more damage to him and to our economy. There are ways he can ease them out and I hope that he or those around him who know the political damage are working on it.

[Cowpunk]

80. Like you, I want Obama to succeed.

If Geithner stays in much longer, this will end very badly.

[omega minimo]

84. ,

[paparush]

75. If the govt is going to save the banks, then we MUST remove the current crop of bank leaders.

[antiwarmonger]

79. I watched it

Must see TV!

[snappyturtle]

100. Ditto. nt

[LWolf]

81. K & R. nt

[Dangerously Amused]

82. Wow. K&R.

[chill_wind]

85. Just finished listening. *Wow* is right. Won't be hearing THAT

on Fox News or CNN. Don't even know if KO or Maddow would touch that. Have they?

K & R.

[polichick]

87. Just finished watching this - a "moral crisis" is right, and it's up to us...

...to demand that the President do the right thing ~ lose these inside players he appointed and start the clean-up again with someone like Elizabeth Warren in charge.

[Pale Blue Dot]

89. kick

[geckosfeet]

90. Brilliant and lucid. The truth will set you free. Bookmarked for future use.

[Adsos Letter]

91. "When asked for motives for the cover up..."

"...Mr. Black suggests it's possible it's being done to cover up criminal misdeeds on the part of all involved, but it may also be done to attempt to mask the full extent of the crisis."

I vote for a combination of the two, with the emphasis upon masking the extent of the crisis.

[emmadoggy]

96. Bookmarking for later. K & R. nt

[Delphinus]

102. OK.

Watching later.

[omega minimo]

111. kickety

[Irish Girl]

116. Bookmarking for later as well

Mucho info to digest.

[KaryninMiami]

117. I'm with you. Way too much and it's way to late but-- yikes.

Not exactly the most comforting story to read just before bedtime...

[Baikonour]

120. When Krugman says things like this, the masses here act repulsed.

Yet this thread has 86 recs.

I'm confused.

[rucky]

124. Krugman is spitting mad when he says it.

Mr. Black lays it out in plain English.

It's all about style.

[EPIC1934]

126. Just Post Sideways....while you still can!

BUMP AND POSTING ON OTHER BIG SITES. THIS MUST BE SEEN BY A CRITICAL MASS OR IM GOING TO KEEP SAYING CRITICAL MASS!!! Only you can click and paste truth. Paste on big newspaper sites where not everyone agrees with you.

This kind of sideways posting is becoming more difficult. I wonder why?

Thanks for posting this!

[Baikonour]

131. So then you admit that some DU'ers act like children because of "tone"?

Silly.

[rucky]

135. I also admit that the choice of tone here is rarely aimed to persuade

So perfectly valid points presented with pompousness quickly undermine themselves.

If people stop posting as if they're talking to children, maybe the respondents will stop acting like them?

[omega minimo]

130. .

[troubleinwinter]

134. .