Elites Get A Free Ride On Obama’s Watch

“No drug, not even alcohol, causes the fundamental ills of society. If we're looking for the source of our troubles, we shouldn't test people for drugs, we should test them for stupidity, ignorance, greed and love of power.”   P. J. O'Rourke 1947

“No drug, not even alcohol, causes the fundamental ills of society. If we're looking for the source of our troubles, we shouldn't test people for drugs, we should test them for stupidity, ignorance, greed and love of power.” P. J. O'Rourke 1947

Obama promised change, and boy, is he giving it to us.  Being able to fire a CEO of a major corporation at the say so of this administration just shows how deeply down the road to socialism we have gone.  Now, if these firings were across the board for all CEOs and those that screwed the pooch, I wouldn’t have a problem with it.  But it isn’t across the board and it shows a glaring imbalance.  Obama is making sure that the very people who caused this mess remain in their positions.

Watching my country being taken over by elitists is disheartening to say the least.  Watching my country’s death throes is even more devastating.  This administration is out to destroy America as we have known her.  And for what?  So that the money men, the bankers, can gain the power they have long sought?  It is happening whether you hide your head in the sand or not.

Congress doesn’t even bother to listen when you send them your views and ask them to do something or not do it.  They no longer represent We The People and don’t give a shit what we think.  It is seriously time to do as Jesus did and clean out the temples of the money changers!  The corruption has reached such a point that unless We the People do something, the elite will have their way and we will be a third world country, overpopulated, no industry to speak of, and bankrupted by the bankers and the elites in this society.  The inequality and flat out favoritism being show to those who blew up our economy is nauseating! CNN’s Lou Dobbs ran this story last night.  It can be found midway down the transcript.

DOBBS: As we reported earlier, President Obama has fired the CEO of General Motors. President Obama insists that his tough approach to Detroit is necessary to bring the auto industry back from the brink of collapse. But while the Obama administration has blasted car makers, it has been courting Wall Street executives — Kitty Pilgrim reports.

KITTY PILGRIM, CNN CORRESPONDENT: The CEO of GM, Rick Wagoner, was fired or asked to step aside by President Obama. But at that very same time, 15 Wall Street and banking CEOs were courting the press at the White House after meeting privately with the president — double standard?

REP. THADDEUS MCCOTTER (R), MICHIGAN: They have the government come in, and ask Mr. Wagoner to resign, which he did honorably. At the same time they’re betting the Wall Street CEOs and pledging to work with them and cooperate while hundreds of billions of dollars are still going to go to them strikes us in Michigan as quite unfair.

PILGRIM: In terms of bailout money, GM received $13.4 billion, well short of the astronomical sums given to the financial industry. Citigroup, led by Vikram Pandit, received $50 billion in TARP funds, Bank of America led by Ken Lewis also received 45 billion in TARP funds, AIG, the biggest chunk of all, $182 billion. Today, the White House press office was asked why President Obama was dictating the management of a public company.

ROBERT GIBBS, WHITE HOUSE PRESS SECRETARY: I don’t think in any way is the federal government running — running these companies or this industry. I think that’s not fair.

PILGRIM: Some say GM’s Rick Wagoner was fired to appease the public fed up with taxpayer bailouts of companies.

REBECCA LINDLAND, HIS GLOBAL INSIGHT: I think it was very much of a political move, and unfortunately somebody had to — had to be the scapegoat, and in this case it was Rick Wagoner.

PILGRIM: What remains to be seen is the financial restructuring GM must do to qualify for further government assistance. Banks have received astronomical sums. Citibank alone has received two bailout packages. While the unprecedented move of the government agreeing to guarantee more than $300 billion in troubled assets.

Kitty Pilgrim, CNN.

Someone needs to fire Gibbs.  He makes stupid look smart!

Just in case you missed the financial numbers the bankers got versus the car manufacturers I’ll put them up here:

Citigroup, led by Vikram Pandit, received $50 billion in TARP funds

According to the NYTimes, Citigroup lost $8.29 billion Loss of $8.29 Billion but they got $50 Billion.  I like that!  Can you imagine if we all got that kind of money just cause we lost a bit???

Bank of America led by Ken Lewis also received $45 billion in TARP funds

Bank of America lost $2.39 Billion and received $45 Billion…  You do the math here.  I think they have fed us a load of horse manure!  These banks didn’t need the amount of TARP funds they have received!!!!

AIG, the biggest chunk of all, led by Edward M. Liddy $182 billion. Reported losses for AIG for the year was $99.3 billion.  They are getting at least 54% more than they lost.  I want some of that!!!

GM received ONLY $13.4 billion and the CEO was asked to leave. According to MSNBC GM lost a total of $38.7 billion in red ink.  They didn’t even get their losses covered.  But the CEO was asked to leave…

As you can see, there is a definite inequality here.  They should fire each and EVERY CEO of all failed companies whether it be car or bank.  The bankers are responsible for the financial meltdown.  Why do they get a free pass? Because Obama is sucking up to the bankers.  Time to gather people and kick some banker butt.  In fact, these CEO’s should be sued not only for failure to do their jobs, but for creating a national disaster as well as a global one.  Nor is it over yet.  There are predictions that more banks will go into receivership.  So why does the Obama administration not make examples of them also?  Because these parasites pay for the Obama puppet to sing and dance, that’s why.

All the evidence needed to convict these treasonous bankers for their global corruption and intentional  destruction of the world economy is in the Federal Reserves’ documentation on their website.  Policy changes designed to inflate the markets and then crash them exist.  The deliberate bilking of billions, (perhaps trillions), of dollars from everyday people was designed, and no accident.  Instead of a free pass they should be imprisoned.

Look at what they are currently doing with Credit Cards.  Remember, the Federal Reserve has CUT interest rates.

The Fed created a new target range for its federal funds rate so that it will hover between 0.25 percent and zero. That dramatically lowers the Fed’s targeted rate, called the federal funds rate, which had stood at 1 percent.

So, with major TARP funds and a ZERO interest rate, WHY are companies raising their interest to consumers?

This month, Washington Mutual (WM) told some credit card customers that it was raising their rates by as much as 100%. Discover (DFS) is lifting its penalty rate to 31%, effective May 1, and may apply that maximum to consumers who exceed their credit limit twice in a rolling 12 months.

Bank of America (BAC) raised rates for some customers in March — triple, in some cases, though spokeswoman Betty Riess says, “It would be very rare.”

We the consumer are being ripped off!  First they stole money from us and our children and grandchildren and great grandchildren for a program we didn’t want, (bailout of banks), and now they are screwing those customers AGAIN by hitting them with outrageous interest rates.  I guess they must think we are stupid and can’t put the numbers together or see the whole picture.

And even child support payments are being hit with fees for getting out the money for kids.  It is outrageous what the bankers are cashing in on!

Debit card fees bite into child support payments

But the fees attached to the debit cards can accumulate quickly: 50 cents to make a telephone balance inquiry; 65 cents to make an ATM withdrawal after two free withdrawals are taken; and $2.75 if the card is used at an out-of-network bank.

Chamberlain found one charge particularly galling. North Carolina-based banking giant Wachovia, which distributes the funds on Virginia’s behalf, said it would deduct $2.50 from her account for more than one face-to-face visit at one of its banks.

And the fees continue.  People getting child support have little to begin with.  For these banks to charge them for every little thing means it is the CHILDREN who lose!  Banks have no right to continue these pirative processes!  Wachovia refused to comment on this issue.  And all States are either doing this or considering it.

And it is these same CEO’s that are making these decisions.  I don’t know who is polishing off whom up there at the White House, but it makes you wonder whose in charge.  Looks to me like WallStreet and the Bankers.

Bank Bailouts Are A Minefield For Obama

Outrage over the misuse of taxpayer money threatens the president’s agenda.

And it isn’t just us.  Outrage is happening all over the world from these bailouts.  We are not alone in our anger over these misuse of taxpayer dollars and administrative decisions.  The Federal government has gotten way out of hand taking instead of allowing things to go as they will.

Workers revolt

Bailouts fuel outrage in France, too

By EMMA VANDORE
ASSOCIATED PRESS

March 25, 2009, 10:46PM

Rising public outrage at employers on both sides of the Atlantic has been triggered by executives cashing in bonus checks even as their companies were kept afloat with billions of dollars in taxpayers’ money and unemployment soars.

Free enterprise seems to be dead all over the world.  There was a time when if a buisness was going to fail, it simply failed and new ones took their place.  Instead, we now have government taking from the people to bail out failures and then keeping the money returns for more government.  This is insane.  This isn’t America, it is socialism!

Do remember this it couldn’t have happened without Congress.  We need to get rid of the corrupt two party process and gain back our power.  If not done soon, we will forever slip into the abyss of socialism.  And Congresses phoney outrage over the bonuses of AIG, (did the bankers get their bonuses???) were the same ones who voted for a blank check for these same companies.  Give us a break!  Theatrics and nothing more.

These same senators who voted to nationalize banks with nary a precondition are also, apparently, stupendously talented actors. After all, most of these senators voted for a bill that contained a provision that specifically protected bonuses that were agreed upon before Feb. 11 in the bank bailout legislation. It was put there by Sen. Chris Dodd (D-Conn.), who is the chairman of the Banking Committee.

I also have to ask seriously WHO is going to buy these toxic assets that caused these banks to fail?  Are those companies stupid?  I think  it was Albert Einstein who said,”Insanity is doing the same thing over and over and expecting a different outcome.”  So won’t these toxic assets hurt the companies that buy them?  Oh, that’s right, it is WE the People who are going to get stuck with them.  That makes sense.  We bail out the banks, pay for their bonuses, and then take the shit off their hands that caused them to fail.  How can they lose?  Only We the People Lose!!!

In England today so much outrage was shown over this situation that police had to come out in force.  It seems to me that those in England are doing what Americans have failed to do, get our message OUT to those in Washington.

It is time to go into action and stop worrying about phone calls or emails or petitions.  They aren’t listening.  It is time to take to the streets and let them SEE our displeasure.  It is time to let Obama know we won’t stand for these horrendous policies any more.  And it is time to fire Timothy Geithner!

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~ by justmytruth on April 1, 2009.

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