Where is my recall, Barack? Why haven’t you recalled the fraudulent financial instruments that were sold to consumers, retirement funds, pension plans, as well as the fraudulent credit default swaps negotiated with AIG?
Congress has been so aggressive to demand that Toyota Motor Corporation fix the defective product components sold to consumers that, now, millions of automobiles are being recalled. Congress has called for investigations into the reason(s) why Toyota took so long to announce that they were investigating product defects, which led to the massive worldwide recalls.
(Now G.M. is “voluntarily”-to avoid decapitation-one million vehicles for defects.)
So Congress and Mr. President, where are the recalls resulting from the defective mortgage-backed securities sold by Goldman Sachs, Lehman Brothers and the other financial investment mobster syndicate banks?
There has been more hardship, more destruction done to consumers by the financial sector than anything Toyota has done. One-half of household wealth went up in flames as a result of defective and faulty make-believe securities produced by the Ponzi artists at the nation’s largest investment banking corporations. So, where is my recall, dude?
We now have Oklahoma Senator James Inhofe calling for a full-scale investigation of what he believes to be a criminal scandal surrounding scientific research involving climate change. He called it the greatest scientific scandal of our generation. He claimed that there have been scientists “engaged in illegal activity to deliberately falsify data and mislead the public on the facts of global warming.”
What we have is Senator Inhofe wanting to take scientists, who have been engaged in research, study, and theoretical climate design modeling to be investigated for their activities. I cannot really say that I have been personally affected, or harmed by the scientific research other than experiencing the Atlantic Ocean waters warming enough to have created enough moisture in the air causing the conditions that led to the dumping of over 3 feet of snow in just a few days in my community forcing me to spend tens of hours shoveling my sidewalks, parking area, roof, as well as chipping out 6-7 inches of ice build-up in my gutters. I guess, what has led to nearly breaking the city’s record of total inches of fallen snow in one season has nothing to do with climate change. Is that right, James?
This winter, which is not over yet, has demonstrated that Pittsburgh has experienced massive amounts of moisture in the air pushed up from the oceans, by southern warm air currents, that are mixed up with colder northern air, dumping lots of feet of snow in record amounts, has nothing to do with climate change. Don’t tell me that this is not possibly climate change? It very well could be. I am not ruling it out. I guess the rising of ocean waters, and the heavy amounts of moisture in the air is only about having a bad day.
My question to the Senator from the great state of Oklahoma is what has caused this nation more damage: the climate change scientific research community, or the possible illegal activity designed to deliberately falsify data to mislead the public on the facts regarding mortgage-backed securities, derivative contracts, collateralized debt obligations, bogus mortgage contracts, unregulated securities trading, shadow banking, computer automated high frequency market trading, and credit default swaps where there is no collateral, or a misrepresentation of quality and real value of the collateral, to back up the swap?
Here is a modification of your quote, Senator: “…engaged in illegal activity to deliberately falsify data and mislead the public on the facts of global warming
[OR, that are directly related to the economic mortgage-backed securities collapse].”
So which is Senator James Inhofe?
Senator Inhofe must NOT have gotten enough lobbyist cash from the climate change scientific community to redirect his rabid accusations away from them and onto the corrupt, fraudulent and dangerous mobsters running the largest investment banks. Has he not been reading how Goldman Sachs was directly involved in disguising the real value of Greece’s sovereign debt, which they eventually ended up buying back from Goldman Sachs after GS shorted their sovereign debt by betting that Greece’s debt was heading toward default?
I guess Republican Senator Inhofe feels that climate change deserves more immediate attention than investigating Goldman Sachs, and the rest of the mobster banking crime syndicate for criminal activity and the incredulous amount of harm they have inflicted upon the American people.
But wait, did not Senator Inhofe state that because the climate change scientific community had issued misleading, illegal, and deliberately false research documentation, while receiving government funding, they are subject to government investigations, which might just lead to prosecutions? Hey Senator, have you been sucking from the lobbyist feed tube for so long that you are now an addict? Have you forgotten so conveniently that Goldman Sachs, BoA, Citigroup, AIG, Wells Fargo, and the rest, have been receiving government funding for their own financial survival? Is it not true that the top mega banking-financial sucking squids had been given a $700B stimulus package, called a Bail Out, and backstopped with cash handed out or exchanged for worthless collateral mortgage backed securities, or loaned at zero percent interest from the Federal Reserve and Treasury to the tune of $14 trillion? Some say over $23T. Does this not count as government assistance? Could it also be called a Corporate Financial Social Welfare Program?
Isn’t Federal Reserve Chairman Bennie-da Beard-Bernanke receiving Treasury money--government money--as deposits? Is he not receiving government funding to operate his research program designed by former chairman Alan-daRandian-Greenspan? Are not what these two mobster finance officers basing their financial free-basing hallucinogenic theories on other theories, which came out of economic research studies while they were preparing for the doctorial dissertations in their graduate school academic programs?
So, what is different between geological climate change scientific research theories, and the Greenspan-Bernanke economic climate change social scientific research theories, Senator Inhofe? From here, Sir Nitwit, absolutely nothing!!! So, let the prosecutions begin!
Their economic theory is called Trickle Down, Supply-side Economics. Ronald Reagan loved the sound of those words. (His 5 most loved words in the English language.) The research came out of the Chicago School of Economics, and Ayn Rand’s greed-based worldview. The theories were all studied. Keynesian was one of their bible scribers.
They then reframed it and called it Neo-liberal economics, or today, we call it Economic Free-Basing using lobbyists to bribe CONgresspersons to write laws that allow the stealing of the Treasury for the accumulation of wealth at the top.
What we have witnessed since this theft went awry, and the Real Economy Pond went dry as the jobs were shipped off and Americans went poor, has been our treasury secretaries past and present, as well as president-past and president-present, caving into the demands of the corporate elite. At the beginning of this economic tsunami, these corporate oligarchs: bankers, financiers, corporate CEOs were awash in cash. They were weaving their underwear with $100 bills and blowing their noses with $20s.
As the economy began to sour, they were about to sell off their dollars and find refuge in safer currencies and investments outside of the United States. This would have crashed the dollar. Remember, the top 10% own 71% of the nation’s wealth. So what Hank Paulson, Ben Bernanke, Lil’Boy Bush and CONgress did was to pay them off at 100% of the value of their disastrous financial gambles and bets in the mortgage-backed securities market. This kept the top 10% from taking their cash and selling it off. The taxpayers have now taken possession of their toxic, worthless financial garbage, so they could be satiated with full wealth and full employment. The Treasury sold bonds, and those bonds were bought by China, Japan and other sovereign nations to pay off the top 10%, as well as run our current account deficits. The Federal Reserve monetized the debt, through Quantitative Easing to also bankroll the wealthiest among us. To hell with everyone else and the Real Economy of manufacturing, jobs, and real production.
Now we hear the foaming and rabid mongrel dogs on the Right, such as Kentucky Regressive Republican Jim Bunning, and his butt sucking pup Regressive Republican from Arizona-Jon Kyl saying that just because the investment banking mobsters, and corporate elite sold the working American a bill of rotten goods, it is THEIR fault that they cannot find jobs in a continuously evaporating jobless marketplace where even those who were earning $100K are now out on the street looking for pizza delivery jobs. The Regressives are so good at blaming the victim.
In addition to this economic social research project designed by the Federal Reserve, and now implemented by the ‘Obuma-Baby’ administration, is the continuation of taxing wages and labor, instead of rents, land and finance, which hurts working people and manufacturing more than the richest 10%, which make most of their income off of dividends, capital gains, property, rent (lending of money to business, and consumers), and financial transactions: fees, and such.
Do not count on this administration to fix a thing!! All President Obuma wants to do is reach across the aisle to the enemy combatants who hate working Americans. All Obuma wants to do is play the role of hand-holder and make sure his play-dates with the Congressional Jihadis are civil. Instead of talking tough, such as taxing the top 10%, who have gotten a free ride and accumulated over 70% of the nation’s wealth during boom times, and not so boom times, to begin paying much of it back, through higher taxes (we all pay a higher tax rate than these fatcats) during the worst of times, so average Americans do not have to see their Social Security checks cut back, or their Medicare or Medicaid reduced, we watch this president blame the victims of neoliberalism, and the failure of Reagan-Bushies-Clinton-omics.
So again I ask, where is my recall, dude?
Thanks for reading, jerry
http://eye-on-washington.blogspot.com
