Archive for ‘CORRUPTION’

June 2, 2012

The DC Folly Trolley

Bill Clinton says companies such as Bain Capital do good work. Yeah, right. They also contribute boatloads of payola to political campaigns.

I suspect it’s not the so-called “good work” the right wing Dems are so thrilled about.  Rather it’s all that payola both in office and when they leave that’s got them so excited.  And let’s not forget companies like Bain are a good way to make a fast buck.


Mr. Fat Cat himself.

Romney made a fortune. Of course, he was born sitting on top of his father’s pile of cash.

But not the little boy from Arkansas.  He started from scratch and look at him now.  Talk about scratch, I’ve read estimates of his wealth that range from $38 to $80 million. Even if the estimates are exaggerated, the guy did right well for himself. All he had to do was sell out the New Deal and he was blessed by those who do the blessing in the world of Follyland DC.

And if Obama loses? He has to be drooling at the prospects of his post-presidency years. He’s gonna get rich beyond his wildest dreams.

So if you aren’t already super rich, the presidency is little more than a stepping stone to untold wealth.

Read the Article at HuffingtonPost

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John Edwards is nothing more than a corrupt politician.

You gotta problem with corrupt politicians?

No one in government does.

Says he wants to do public service. What the hell is that supposed to mean?

Read the Article at HuffingtonPost

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Jay Townsend, a GOP reactionary, advocated throwing acid into the eyes of Democratic female senators. Stupid remark? Of course, he’s a Republican. What would you expect?

Proves beyond doubt that many Republicans are only recently emerged from the Neander Valley in Germany, the site where the remains of a tribe of Neanderthals, once thought to be extinct, were discovered.

English: First reconstruction of Neanderthal m...

Neandertal (Photo credit: Wikipedia)

Jay Townsend before shaving in the morning.

Read the Article at HuffingtonPost

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Dear Mitt, some are feeling concerned

When you stand with D. Trump and get burned

The Donald’s a huge gambler

Who knows squat of the Nash Rambler

Yet so rich he cannot be spurned

1959 Rambler American 2-door compact sedan by ...

The car that made the Romneys famous, produced while George Romney was CEO.  1959 Rambler American 2-door compact sedan by American Motors Corporation (AMC) — the first generation design. Painted in optional factory two-tone blue. (Photo credit: Wikipedia)

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Sign seen in front of the office of the American Psychiatric Association:

New Patients Accepted

We have a diagnosis just for you.

See your local psychiatrist and get yours today.

Psychiatrists have teamed up with Big Pharma in an all out effort to convince the American people that they really are crazy. According to an article in Dissident Voice the psychiatric group has “reaffirmed its resolve to pathologize healthy people.”

Nice too see this group so willing to help the sanity challenged.

Of course, when you can define sanity challenged, the profession becomes just another way to make a fast buck.

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It’s easier to fool people than to convince them that they’ve been fooled. Mark Twain.

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Scott Walker may be a douche bag, but according to polls, it’s a douche a majority of Wisconsin’s voters can’t wait to get – for a second time around.

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Sounds like the Bush family is still hoping for a Jeb pick.

File:Alberto Gonzales - official DoJ photograph.jpg

Smilin’ Al. Is he still carrying water for the Bushes?

Alberto Gonzalez, Bush’s Attorney General, told CNN’s John King that Marco Rubio (R-FL) is not qualified to be vice president. Sounds like the Bush family is still hoping for a Jeb pick despite the fact that the former Florida governor keeps insisting he doesn’t want the job. In politics, however, no, no, no, too often means please, please, please!!!

If the Bushes want Jeb, and Romney knows what’s good for him, it’ll be Jeb for VP all the way.

The only reason Romney might not want Jeb is that he could be too powerful an influence over White House affairs and might overshadow Mitt’s presidency.

November 25, 2011

Poor Caused Meltdown???

Every flimflam needs a mark. For the subprime mortgage scam there were millions of suckers. You’ve heard of them, the ones that are born every minute.

You know the kind, the ill-informed poor people and the uninitiated who reside closer to the middle.

Right wing extremists – a term that now encompasses the vast majority of people who used to call themselves conservatives – blamed first Fannie Mae and Freddie Mac for the meltdown.

And why shouldn’t they blame Fannie and Freddie.. After all the government forced these institutions to back mortgages to poor people who they knew couldn’t repay them. Yes, the big money boys of Fannie and Freddie were threatened with torture if they didn’t obey. Some CEOs were even sent to Gitmo and waterboarded because they didn’t submit. And since nobody likes having toothpicks stuck under their fingernails, the CEOs finally surrendered and, even though they resisted furiously, they were compelled by government to accept hundreds of millions of dollars in salaries and bonuses.  Can you believe that!  

Actually I just made that stuff up.  But the rest is true.

So when that rubbish didn’t seem to stick, well, there was always the Community Reinvestment Act. Blaming the CRA was sheer balderdash, but hey, any port in a storm, right.

Unfortunately, that excuse didn’t gain traction either so let’s see, there’s gotta be something else we can dump this mess on, right, righties. Think hard now. Oh yeah, that’s right. Poor people. Let’s blame poor people.

So desperate were the righties to blame anyone or anything for the economic meltdown that they even blamed poor people. Anyone would do. Anything to avoid blaming their cocktail party buddies – those who are really at fault, the Wall Street jailbirds (also known as CEOs, bankers and mortgage originators).

So they blame Fannie and Freddie who never issued a mortgage, subprime or otherwise. Both of which, in case you didn’t know, were privately operated, profit making institutions whose CEOs scarfed up untold millions in salaries and bonuses.

Then there was the Community Reinvestment Act. Passed during the Carter administration, it sought to eliminate the racist bank practice of redlining. A common exercise, redlining drew boundaries around poorer neighborhoods, mostly populated by African Americans, and placed a lending stranglehold on there areas. It mattered little that someone who qualified for a loan was denied. They were routinely blackballed simply because they happened to live a a poor neighborhood.

Funny thing. Fannie, Freddie and the CMA worked beautifully for decades.

So the righties continues their search. They had to find some excuse to absolve their Wall Street buddies from committing the crime of the ages. (I refer to these Wall Street hoods who scammed the nation and most of the industrialized world as jailbirds not because they ever served even a nanosecond behind bars where they truly belong. But because they escaped jail time only due to the vast amounts of protection money they lavish upon Congress and the White House. And of course that scratch buys them legislation that not only keeps them out of jail. It gets them bailed out with taxpayer money. That “get out of jail card free” card serves both purposes and they carry it in their wallets for future use).

Here’s what really happened. Mortgage originators issued paper to anyone and everyone. Didn’t matter. All they wanted was to collect the fees and commissions. They then sold off the mortgages, which collectively, amounted to many millions of pieces of paper and trillions of dollars in borrowed money.

Now the mortgages that were sold were low interest, short term agreements known as Adjustable Rate Mortgages. Typically, rates and therefore payments balloon in a few years.

Not to worry though. And this is the beauty of the scam When the ARM matures, the mark returns to the issuer to refinance the mortgage. Same low ARM and payment. But this time the house has appreciated in value, as we know all property does, so the mark is now richer and the refi is a breeze. The issuer collects more fees and commissions and sells the junk once again to an investor.

The statement “here’s your check. Go pick out a house and call me in the morning” wasn’t too far from the reality.

The Wall Street jailbirds then packaged the mortgages into securitized bundles (secured by the houses the money bought), sold the bundles and called them Collateralized Debt Obligations.

American International Group

The huge insurance company must share the blame for the meltdown. Image via Wikipedia

However, the jailbirds, also known as investment bankers, went one step further. They insured all the junk mortgages they did not sell and called the insurance policies Credit Default Swaps. Goldman Sachs insured its CDOs with AIG, a huge CDS policy issuer.

AIG quickly went bankrupt when this bank created housing bubble burst and couldn’t payoff on the insurance policies it issued. Not to worry boys and girls. The government, courtesy of the taxpayer, shoveled some more cash, this time in AIG’s direction and soon the insurance company was able to make good on its debts and paid up what it owed Goldman Sachs (and many other companies). In effect the government rescued Goldman a second time from even greater losses.

The AIG default was partly due to inadequate reserves it was no longer required tokeep on hand because the deregulated market place allowed all rules to lapse.

Here’s some of the trash that the Wall Street jailbirds left behind for the taxpayer to clean up after. Gone are Lehman Brothers, Merrill Lynch, Bear Sterns, Washington Mutual, Countrywide Financial and a whole host of other less notables. And let’s not forget the toxic assets gobbled up by the trillions by the Federal Reserve Bank, the layoffs, the destroyed pensions, the unemployment crisis and the entire world deficit problem.

Oh, just one more thing, the huge executive bonuses the Wall Street jailbirds continue to pay themselves are nicely kept in tact.

Despite all of the evidence to the contrary, the righties still blame the victim for the crime.

http://goanimate.com/player/embed/03IWj3SNhdtg

October 26, 2011

Are You Rich Yet?

Ronald Reagan brought you supply side economics.  Are you rich yet?

Bill Clinton reformed welfare.  Are you rich yet?

George Bush gave you two tax cuts.  Are you rich yet?

Alan Greenspan lowered the prime interest rate to near zero.  Are you rich yet?

Former Chairman of the Federal Reserve Alan Gr...

After committing one of the most monumental screwups in world history, the Maestro is awarded a thingy by George Bush who hasn't yet received his thingy for all of his screwups. Image via Wikipedia*

Barack Obama extended the Bush tax cuts.  Are you rich yet?

Ben Bernanke purchased trillions of dollars of worthless CDOs from Wall Street banks.  Are you rich yet?

Official portrait of Federal Reserve Chairman ...

Nice beard. Oh, yeah right. He's that Fed Chairman guy.

Obama gave you a payroll tax cut.  Are you rich yet?

Obama saved Wall Street for the sake of Main Street.  Are you rich yet?

All of the above actions enriched the richest 1% and saved them trillions of dollars in bank assets.  Are you rich yet?

Wall Street outlaws pay millions of dollars in protection money to the mobsters in DC we euphemistically refer to as Congress. And there’s a lot more scratch where that came from so long as the mobsters continue to play ball. There’s no indication the crooked game will ever end.

Alan Greenspan – Ayn Rand cultist, compulsive deregulationist and everybody’s favorite candidate for the mangled English prize –  committed a spectacularly monumental blunder by failing to recognize a housing bubble almost as big as his nose, until the damn thing burst in his face.  President Bush is seen awarding Alan the Baronial Medal of Stupidity, I mean the Presidential Medal of Freedom.  You actually get an award for being one of the central characters that caused the collapse of the global economy.*

*(Alan Greenspan was also honored with the Schmuckup Prize in Economics awarded by the Nobella Prize Committee in September 2009.

The Committee, whose hideout is located in Pasta Fagioli, a village nestled deep in the Italian Alps, grants awards from time to time to deserving individuals in the arts, sciences and government or just about anything else whenever it feels like it.

The Schmuckup Prize consists of a statuette known as the Little Schmuckie and is made of rusted metal stolen from an auto junk yard.  The Little Schmuckie is given to winners of the award while supplies last.  Unfortunately for Alan supplies ran out the day he was awarded the prize.

Alan has also been nominated for Shit Eatingest Grin of the Decade.  We stand breathless awaiting the committees decision on the winner).

Related articles

October 20, 2011

Occupy Democracy Resources & Wolf Pac

Occupy Democracy Resources.

How To Regain Our Democracy | The Smirking Chimp.

Charlie Chaplin stands on Douglas Fairbanks' s...

Image via Wikipedia

Combined with OWS, Cenk Uygur’s new Wolf Pac and FB groups might bring to pass a new awakening, sorely needed in America.

We are living under corrupt government.  Wall Street banks and US corporations pay millions of dollars a year in protection money to the mobsters in Washington we euphemistically call government.  In exchange for the protection money the money changers then get to write the laws that protect them and when they break the law the mob looks the other way.

The banksters rely on the exchange of soiled money to keep them from being prosecuted.  Else they would surely be common jailbirds and deservedly so.

  • Protection Money Pays Off (dcwreck.wordpress.com)
  • Photo – Charlie Chaplin stands on Douglas Fairbanks shoulders during 1918 Wall Street protest.