Thursday, June 11, 2009

"The Justice Department Won't Prosecute"

I don't know why not. Hopefully, this ends any chance he had to be reappointed.

During the past year, I've written several times about the possibility of future legal consequences for the bailout principals, particularly the unelected ones in Washington. I'm ready to double-down on that prediction. It's absolutely essential for Congress to rein in what's become a rogue organization with, it increasingly appears, a rogue leader.


Anonymous Anonymous said...

Hmm, there seems to be a lot of questionable activities that occured. Where are those prosecutors? What a bunch of crooks we've got at the helm.

As anonther example, regarding Washington Mutual, I remember reading scuttlebut that JP Morgan/Chase had at first approached WAMU as a suiter, obtained valuable information on the company and then allegedly, sat back and fueled the rumors which caused the "silent" run on WAMU which set all of the action in motion.

The lawsuits which seem not to be publicized widely are illuminating:,0,6579758.story


6/12/2009 9:10 AM  
Anonymous KAIMU said...


Kudlow is betting on Summers ... Is there a "lesser of evils" here or just plain E-V-I-L?

Eliminate the US FED ... the entire organization is fraudulent. The US FED and its member banks are essentially no different than the MAFIA skimming profits at the VEGAS casinos.

They are MIDDLEMEN and even OBAMA used that exact term ... MIDDLEMEN ... in his speech regarding student loans back in April. Hey 1+1 anyone?


6/12/2009 1:10 PM  
Anonymous Anonymous said...

Why do you think anybody with a chance of replacing Bernanke will change any tiny thing about the government response to the crisis or monetary policy? Like the dancing with who brung ya post, it's going to be somebody already part of the system who has a record to check like a prospective SC judge and who gives Obama all the right answers.

Dick Dastardly.

6/12/2009 5:55 PM  
Anonymous goldhorder said...

...or Larry Summers. LOL

6/13/2009 11:43 AM  
Anonymous Anonymous said...

Even as a longtime Fed skeptic, I was surprised by this news.

6/13/2009 8:54 PM  
Anonymous rapier said...

By odd luck the Holocaust Museum shooter was an old fashioned John Birch Society type of Federal Reserve hater. Probably a gold bug. Certainly opposed to fiat currencies and fractional reserve banking.

It is little appreciated that any criticism of the Fed for 40 years has been fought by the Fed and its friends by associating any critic with the wingnuts. The only semi mainstream vocal opposition to the Fed has been from the doctrinaire Libertarian camp who often want to see it eliminated as well, ie. Ron Paul. Really only two steps at most removed from crazies.

The audit the Fed legislation getting ready to see the light of day in the House will probably be doomed as the reasonable inquiry into the Fed will be painted as doing the work of the Jew haters.

6/14/2009 11:39 AM  
Anonymous KAIMU said...



Here is what OBAMA said back in April this year on US Banks and student loans.

"And there's only one real difference between Direct Loans and private FFEL loans. It's that under the FFEL program, taxpayers are paying banks a premium to act as middlemen -- a premium that costs the American people billions of dollars each year.

Well, that's a premium we cannot afford -- not when we could be reinvesting that same money in our students, in our economy, and in our country.

And that's why I've called for ending the FFEL program and shifting entirely over to Direct Loans. It's a step that even a conservative estimate predicts will save tens of billions of tax dollars over the next ten years. According to the Congressional Budget Office, the money we could save by cutting out the middleman would pay for 95 percent of our plan to guarantee growing Pell Grants." END

Is there a "real" reason we Americans(who produce the wealth in this country)should have to pay anything over 1% for a loan in America?

Who benefits? Even OBAMA has figured that out.

Maybe he will run Libertarian next year!


6/15/2009 7:32 AM  
Anonymous Anonymous said...

"reign in?" - I don't think Congress knows how to do that. Our Congress for the past 30 years has been one huge disappointment. All the bickering and fighting, they say one thing and do another. Truth is fundamental. We are at a standstill otherwise. imho, that is the biggest moral decline in our Nation. I don't think our Congress is capable, for many $reasons$, of doing what is right and what is needed for a sustainable Nation. We sell Congressional seats to the highest bidder (spender). When elections costs multi-millions and they spend frivolously to get the seat, why would we expect them to finally be responsible. The very fact that they are there, means they are NOT fiscally conservative. The only thing they know is how to prostitute for money and how to spend other people's money. We'll limp along, a bright spot here and there, but overall opportunities and progress will be crippled.

snippet from Democracy Now:

House Passes $106 Billion War Spending Bill

The Democratic-controlled House has narrowly passed a $106 billion spending bill to expand the war in Afghanistan and to continue funding the war in Iraq. Thirty-two antiwar Democrats voted against the measure, as did all but five Republicans. The Republicans opposed a part of the bill to increase funding for the International Monetary Fund. The final vote was 226 to 202. Congressman Dennis Kucinich voted against the war funding.

Rep. Dennis Kucinich: “We’re destroying our nation’s moral and fiscal integrity with the war supplemental. Instead of ending wars in Iraq, Afghanistan and Pakistan now by appropriating only enough money to bring our troops home, Congress abdicates its constitutional authority, defers to the President, and asks for a report. That’s right. All we’re asking for is a report on when the President will end the war."

Dennis Kucinich also criticized the increased funding for the International Monetary Fund.

Rep. Dennis Kucinich: “There’s money, too, for the IMF, presumably to bail out European banks, billions for the IMF, so they can force low- and middle-income nations to cut jobs, wages, healthcare and retirement security, just like corporate America does to our constituents. And there’s money to incentivize the purchase of more cars, but not necessarily from the US, because a Buy America mandate was not allowed. Another $106 billion, and all we get is a lousy war. Pretty soon that’s going to be about the only thing made in America: war."

6/17/2009 3:29 PM  
Anonymous Anonymous said...

Sound like the opposite is going to occur: Obama spells out major financial rules overhaul - "The Fed's expanded authority..."

This was on Frontline this week: Breaking the Bank - "Inside the saga of Ken Lewis and Bank of America. From the start, the Merrill deal was troubled. Then the government took over."

6/17/2009 3:42 PM  
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