by DamienFrom the SeattlePI.Com via Market Ticker:Long time 'existentialist' Damien files the following report confirming that the 'finanicial meltdowns' and subsequent bailouts are deliberate frauds, scams on a global scale. Damien picks up the story...
The FBI was aware for years of "pervasive and growing" fraud in the mortgage industry that eventually contributed to America's financial meltdown, but did not take definitive action to stop it.After the terrorist attacks of 2001, about 2,400 agents were reassigned to counter terrorism duties.
"It is clear that we had good intelligence on the mortgage-fraud schemes, the corrupt attorneys, the corrupt appraisers, the insider schemes," said a recently retired, high FBI official. Another retired top FBI official confirmed that such intelligence went back to 2002.
The problem, according to the two FBI retirees and several other current and former bureau colleagues, is that the bureau was stretched so thin that no one noticed when those lenders began packaging bad mortgages into bad securities.
Both retired FBI officials asserted that the Bush administration was thoroughly briefed on the mortgage fraud crisis and its potential to cascade out of control with devastating financial consequences, but made the decision not to give back to the FBI the agents it needed to address the problem.
In Oct 2008 Mr Lynn Turner, former chief accountant of the SEC, gave evidence to the US House Oversight Committee investigating the collapse of insurance giant AIG. He testified that the SEC Office of Risk Management, which had oversight responsibility of all US securities, including swaps, had been progressively cut by the Bush administration from 146 personnel.
By Feb 2008 only one person was left for assessing corporate financial risk management for the entire US securities market!
Here's Rep. Peter Welch (D-VT) questioning Lynn Turner:
Welch: "You said that the SEC office of risk management was reduced to a staff. Did you say, of one?"The Bush regime is a crime syndicate! It's that simple.
Turner: "Yeah, when that gentleman would go home at night he could turn the lights out in February of this year. We had just gotten down to one person at the SEC responsible for identifying the risks at all the institutions".
Welch: "So that included the $62 trillion dollar credit default swap?"
Turner: "That's correct."
It's a wonderful life
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5 comments:
As I recall Obama couldn't wait to get to Washington to vote on the bailout.
Didn't have time to vote on other matters, but shure had time for this one.
Well, if we had had a REAL revolution as I had urged, we might not be debating this. Still --I will take an articulate crook over a fuckin dumbass anyday. At lest education is in better hands.
Besides --I don't think Obama had anything to do with 911.
Who benefited from 911? The Bush gang of traitors, torturers and mass murderers, that's who!
Who told the most and biggest lies about 911! That's an easy one.
Telling lies about a crime IS a crime. There are enough LIES about 911 to send the entire Bush administration up the river for good --if not the gas chamber.
I agree about a revelotion, or at least some form of protest.
But this blind allegiance to someone who is so articulate will give us the same for the minimum of four years as it has for the past eight.
Pelmo said...
I agree about a revelotion, or at least some form of protest.
US 'society' must change in a revolutionary manner or it will not survive.
But this blind allegiance to someone who is so articulate will give us the same for the minimum of four years as it has for the past eight.
I oppose blind allegience of any sort. Since 1980, however, it has been the right wing, specifically the GOP, which has had the monopoly on it. For a brief period, I consulted GOP candidates and was offered quite 'war chest' if I were to run for office myself. By that time, I had concluded that the GOP was a Faustian bargain.
Anyone accepting GOP monies, war chest or assistance has, literally, sold his soul. It is a mob from which there is no escape.
For many years now, I have failed utterly to make people understand that the GOP is not a political party ...it evinces characteristics of the most malevolent cults and, as 911 should have made clear to everyone, it is a crime syndicate.
Sure --lobbyists support Democrats. But Democrats rarely get as much. Like everything else, it is for the sake of politics, appearances and hedging the bet.
Again --it's for appearances. The people must never know the truth or the degree to which they have lost complete control of the government.
Secondly --the real government is the MIC in cahoots with K-street and supported by the 'intelligence' community. This 'community' is RIGHT WING and favors the GOP. It will murder people who pose a threat. Exhibit A: JFK.
No 'dictatorship' will reveal itself as such today. All have read Goebbels and, throughout the GOP, much more sophisticated research and mind altering techniques are embraced than Goebbels could have imagined.
When I have differences with Democrats, I state them. We have a debate. It's transparent.
The 'real' government works behind the scenes. The GOP sold out to them long ago.
When I have differences with the GOP I am 'expelled', made a pariah, labeled a traitor or --worse --a terrorist. If I had been like JFK, a REAL threat, I would not be writing this today.
Trust me: GOP is, as they would say in Texas, 'whole 'nuther animal'.
It simply defies analogies to the GOP --an evil cult!
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