The recent headlined news story of the apparent suicide of Mark Madoff, the son of Wall Street wheeler dealer Bernie Madoff who is now serving a 150 year prison term in North Carolina for securities fraud, serves to remind many Americans of a U.S. criminal justice system gone astray.
A tragedy, and one in which the media and government most likely had a hand in this young man's fall, although the complete details and coroner's report has yet to be revealed.
Mr. Madoff senior bilked thousands of investors in his Ponzie scheme of a great deal of their wealth, from all reports, and was the mastermind of the scam and whose actions and activities were actually reported to authorities by his very own sons, although little has been revealed insofar as whether there was pressure also exerted on them to so do from governmental sources prior to his arrest.
Mark Madoff, from all reports, profited from his father's schemes, and was thus also then in the end targeted for investigation even after having been instrumental in his father's conviction.
The comments on most of the websites by the public have not been sympathetic, to say the least.
Which just goes to prove just how many in this country have truly lost their way in their understanding of the intent of our founders with respect to crimes such as these, which although heinous for the absolute thievery which occurred has not been adjudicated according to the "common law" provisions behind our criminal justice system in "letting the punishment fit the crimes," and in the government acting on behalf of the victims and not its self-serving ends since the punishments in so many crimes at both the criminal and civil levels are now statutory determined, rather than determined by juries of American citizen's peers.
The Madoff's, and all who profited from such schemes in this writer's view should have been henceforth precluded from ever serving in any fiduciary capacity with respect to other people's money from this day forward, and the spoils of their crimes seized and redistributed with interest to the victims of their greed and avarice.
Not the taxpayers having to now pay to jail and house Mr. Madoff in federal prison, and his son then "investigated" for the past several years, rather than concentrating on the crime itself and its victims and all parties' right to justice in a criminal fraud action, although by its very nature investing in Wall Street or the stock market clearly are risky ventures at best due to its "global" focus and composition again contrary to the intent of those founders for a "sovereign" U.S. economy.
Justice would mean recompense and precluding the perpetrators from ever being placed in such a position of trust and temptation ever again - since by their own actions proved through the "evidence" that their positions of trust were criminally abused.
Having to seek work in this now depressed U.S. economy in other fields of endeavor outside the financial sector, and losing all that they have gained at the expense of others with punitive damages added due to the nature of their crimes would have been the "legal" and "lawful" punishment called for.
Not years and years of "investigation," and subsequent media hounding - or innuendo without due process.
It was reported that Mark Madoff was found dead with his two year old child and his dog in the home where his body was discovered, with his true guilt or innocense still left undetermined although purportedly was still living a rather lavish lifestyle as a former employee of one of his father's commercial ventures, with authorities alerted by his wife who lived in another state and who had petitioned the court for a change of name for she and their son due to the continued ramifications of the crimes committed by Mark Madoff's father.
The press has been unforgiving. And the American public, most of whom were not even directly impacted by the senior Madoff's activities, just as unforgiving and brutal, although fundamentally all Americans have been impacted by the loosey goosey federal government's oversight of the Wall Street banks, bankers and profiteers.
Which governmental policies and practices in sufficient oversight of these Wall Street profiteers have remained for the most part unchanged fundamentally even since Bernie Madoff's arrest, and conviction.
Wake up, Washington. A two year old has just lost his father, and there is another Bernie Madoff trading his grandchild's future for a yacht.
Or just maybe, eventually, THIS grandchild might.
Showing posts with label financial. Show all posts
Showing posts with label financial. Show all posts
Saturday, December 11, 2010
Thursday, July 22, 2010
Obama and Congress Throw Citizens A Bone
With the increasing joblessness and homelessness now increasing across the nation, and outrage of an increasingly dissatisfied electorate with both mainstream political parties and their agendas bypassing both Constitutional provision and restraint, Congress and the Obama Administration threw the American people another bone.
Unemployment benefits checks will be reinstituted.
And just how much is unemployment - about a third of most citizens former take-home pays, over another third less than their former paychecks even after withholding?
Although, of course, this does nothing for the small businesses that have gone under during this banker, Wall Street and political economic recession, or those homeowners who are still in danger of losing their homes due to the illegal loans which were sold in the West and Southwest primarily, since nothing has been done to address the causes of the foreclosure tsunami, just the symptoms.
Loans which have no fundamental basis in our Constitution, based on foreign currencies (the British LIBOR) which were sold to unsuspecting homeowners during the boom who were forced into refinances due to rising costs of ownership.
Especially in the border states which had also seen increases in insurance rates for both autos and homes go off the charts, and whose property taxes were tied into their home valuations.
The predatory lending practices of these banks have simply been promoted by this Administration, pushing Americans to refinance into these same "foreign" based loans, and now even kids for college tuition increases which also have gone off the charts.
Sallie Mae's funding is weighted toward also promoting these London banking index rate loans, and seems to be that this is why Mr. Obama has been on the "get re-educated" and "refinance" bandwagon - to trap the American people who thus far have not been affected and still have their homes, and now even our youth then also into these adjustable foreign based loans.
Seems the "change" which has occurred has been a "change" in the face behind the podium, but not at all the agenda.
Wall Street, the "global" economy and New York profits at the cost of the rest of the country and citzenry.
Since due to those excessive salaries of our "misrepresentatives," they seem to be the heaviest investors in this "global" economy which is being promoted at the cost of America's own.
Unemployment benefits checks will be reinstituted.
And just how much is unemployment - about a third of most citizens former take-home pays, over another third less than their former paychecks even after withholding?
Although, of course, this does nothing for the small businesses that have gone under during this banker, Wall Street and political economic recession, or those homeowners who are still in danger of losing their homes due to the illegal loans which were sold in the West and Southwest primarily, since nothing has been done to address the causes of the foreclosure tsunami, just the symptoms.
Loans which have no fundamental basis in our Constitution, based on foreign currencies (the British LIBOR) which were sold to unsuspecting homeowners during the boom who were forced into refinances due to rising costs of ownership.
Especially in the border states which had also seen increases in insurance rates for both autos and homes go off the charts, and whose property taxes were tied into their home valuations.
The predatory lending practices of these banks have simply been promoted by this Administration, pushing Americans to refinance into these same "foreign" based loans, and now even kids for college tuition increases which also have gone off the charts.
Sallie Mae's funding is weighted toward also promoting these London banking index rate loans, and seems to be that this is why Mr. Obama has been on the "get re-educated" and "refinance" bandwagon - to trap the American people who thus far have not been affected and still have their homes, and now even our youth then also into these adjustable foreign based loans.
Seems the "change" which has occurred has been a "change" in the face behind the podium, but not at all the agenda.
Wall Street, the "global" economy and New York profits at the cost of the rest of the country and citzenry.
Since due to those excessive salaries of our "misrepresentatives," they seem to be the heaviest investors in this "global" economy which is being promoted at the cost of America's own.
Tuesday, April 27, 2010
Goldman Sachs Passion Play Misses The True Crime
While the entire even minimally politically aware citizenry of the United States is on overdrive due to the far-reaching events of this past week with respect to the war zone conditions that are more than apparent in the border states and particularly Arizona over the illegal immigration situation, with those on the East Coast per a Saturday Night Live News segment slamming the state, while being totally ignorant of what actually led to the actions taken by the state government to begin with, there has been more afoot on the Eastern Seaboard.
Such is the insulation in this country, and lack of a national identity at this point that those not directly affected by the porous southern borders and drug cartels doing business cross borders almost unimpeded for the past thirty years, have once again attempted to minimize the impact on those victims, rather than putting pressure on the federal government to actually do their jobs and get our southern borders secured FOR ALL.
This week, however, another drama is being played out in the media which also majorly impacted those living mostly in the West and Southwest and Sunbelt states (the states with the continuing foreclosures, which are increasing by the month) and that is the hearings being conducted over the Goldman Sachs securities fraud.
Little connection, however, or reporting has been forthcoming insofar as just who were the actual true victims in the Goldman Sachs fiasco.
And it was not primarily the investors of those CDOs which were pawned off on them by Goldman Sachs knowing full well that those collateralized loans were junk, and that one of their major clients was hedging their bets though derivatives in the process.
After all, Goldman Sachs is the Cadillac of investment houses and most of their clients are not neophytes but savy investors, or at least minimally aware of risk when making some of those investments.
I mean, these investors were playing the market, after all.
In fact, there are quite a number of Goldman Sachs investors who, I'm sure, invest for the tax writeoffs they receive for losses on some of those investments.
Although mere disclosures also of the risks for most of these investments is clearly inadequate for many, due to the legalese with which most prospectuses and other investment documents are written to begin with.
And selling your investors down the river for a favored investment client firm is not good business practice, nor is it legal in the sense the founders intended irrespective as to whether or not there are codified laws allowing mere disclosure as a protection for these huge Wall Street banking firms in order to mitigated their potential losses since Wall Street is pretty much left alone by the SEC and Congress more and more while the investment grades and risks are becoming greater and greater, for the average American individual investor, that is.
In fact, I would simply state that Goldman Sachs had a huge ethical problem, and conflict of interest actually, in order to win favor with one client at the cost of so many others and can not understand for the life of me just how that would not have been in violation of at least several SEC or United States Code provisions.
But the true victims actually are the American homeowners mostly in the West and Southwest who were sold most of those bad loans which Goldman Sachs has admitted full well knew were bad while they were unloading them.
People who were first time homebuyers, or who were forced into refinances in those states due to the rising costs of ownership during that very short boom cycle, many of whom also were owners of homes during a similar scenario involving Charles Keating in the 1980's - who was selling risky investments to elderly retirees in also the West and Southwest and who ended up losing their homes and everything they had when Lincoln Savings & Loan went bust.
Many of these risky and bad CDO's were also guaranteed by Freddie Mac and Fannie Mae.
We all know what happened then since it is and has been the American people who are also bailing out those two entities, all for Goldman Sachs' investors, since the homeowners whose loans were involved and their interests are far down the list and in which at this point for many actually have no underlying debt, as it were, since they were resold.
AND the American people were billed for cash advanced literally in the millions directly to Goldman Sachs (a part owner of our own Federal Reserve actually, according to several reports), so actually it appears Goldman Sachs was using Congress to write themselves their own checks, while billing then those costs to the American public at large on their investors behalf.
And yet it is and was the American homeowners who are still being threatened by these banks and lenders in bed with thsoe Wall Street wheeler dealers and Washington, and few have been able to refinance under more favorable terms since Congress has yet to address the actual terms of those bogus contracts to begin with.
In fact, most of Congress and Obama's attentions have been in attempting to hawk refinances instead to get more and more Americans, it appears, into some of those bogus loans in order to use to pay back some of these investors, apparently.
Or for those "new" jobs created in the mortgage industry of now "mortgage counselors" to settle those debts with those investors by renegotiating the terms of those loans as the middle man with those homeowners, weighing the cost/benefit against foreclosing on the property and reselling it as to which would get those investors and those banks affiliated with Freddie Mac and Fannie Mae more.
Many of those loans, of course, were sold through California lenders which were not even based on the U.S. currency, but on the British LIBOR rates.
In the banking industry, the connections between New York and Wall Street and California and those mortgage bankers is strong.
After this week's bust and play acting by the Senate with respect to any true financial sector/Wall Street reform, I'm wondering when those in Washington will get around to addressing the fallout to the true victims of this passion play.
The American people, and mostly those American homeowners in the West and Southwest which New York and its brash comedians maligned in a roundabout way once again last Saturday night.
Watch Washington give Goldman Sachs a lengthy tongue lashing, as what occurred today by selected Senators needing some face time with the media for the upcoming elections, and then purportedly levy a heavy fine.
While the true victims continue to lose their homes, jobs and even lives in the West and Southwest due to Washington's continued political maneuvering protecting the bankers and appeasing the foreigners while raping the citizenry.
Such is the insulation in this country, and lack of a national identity at this point that those not directly affected by the porous southern borders and drug cartels doing business cross borders almost unimpeded for the past thirty years, have once again attempted to minimize the impact on those victims, rather than putting pressure on the federal government to actually do their jobs and get our southern borders secured FOR ALL.
This week, however, another drama is being played out in the media which also majorly impacted those living mostly in the West and Southwest and Sunbelt states (the states with the continuing foreclosures, which are increasing by the month) and that is the hearings being conducted over the Goldman Sachs securities fraud.
Little connection, however, or reporting has been forthcoming insofar as just who were the actual true victims in the Goldman Sachs fiasco.
And it was not primarily the investors of those CDOs which were pawned off on them by Goldman Sachs knowing full well that those collateralized loans were junk, and that one of their major clients was hedging their bets though derivatives in the process.
After all, Goldman Sachs is the Cadillac of investment houses and most of their clients are not neophytes but savy investors, or at least minimally aware of risk when making some of those investments.
I mean, these investors were playing the market, after all.
In fact, there are quite a number of Goldman Sachs investors who, I'm sure, invest for the tax writeoffs they receive for losses on some of those investments.
Although mere disclosures also of the risks for most of these investments is clearly inadequate for many, due to the legalese with which most prospectuses and other investment documents are written to begin with.
And selling your investors down the river for a favored investment client firm is not good business practice, nor is it legal in the sense the founders intended irrespective as to whether or not there are codified laws allowing mere disclosure as a protection for these huge Wall Street banking firms in order to mitigated their potential losses since Wall Street is pretty much left alone by the SEC and Congress more and more while the investment grades and risks are becoming greater and greater, for the average American individual investor, that is.
In fact, I would simply state that Goldman Sachs had a huge ethical problem, and conflict of interest actually, in order to win favor with one client at the cost of so many others and can not understand for the life of me just how that would not have been in violation of at least several SEC or United States Code provisions.
But the true victims actually are the American homeowners mostly in the West and Southwest who were sold most of those bad loans which Goldman Sachs has admitted full well knew were bad while they were unloading them.
People who were first time homebuyers, or who were forced into refinances in those states due to the rising costs of ownership during that very short boom cycle, many of whom also were owners of homes during a similar scenario involving Charles Keating in the 1980's - who was selling risky investments to elderly retirees in also the West and Southwest and who ended up losing their homes and everything they had when Lincoln Savings & Loan went bust.
Many of these risky and bad CDO's were also guaranteed by Freddie Mac and Fannie Mae.
We all know what happened then since it is and has been the American people who are also bailing out those two entities, all for Goldman Sachs' investors, since the homeowners whose loans were involved and their interests are far down the list and in which at this point for many actually have no underlying debt, as it were, since they were resold.
AND the American people were billed for cash advanced literally in the millions directly to Goldman Sachs (a part owner of our own Federal Reserve actually, according to several reports), so actually it appears Goldman Sachs was using Congress to write themselves their own checks, while billing then those costs to the American public at large on their investors behalf.
And yet it is and was the American homeowners who are still being threatened by these banks and lenders in bed with thsoe Wall Street wheeler dealers and Washington, and few have been able to refinance under more favorable terms since Congress has yet to address the actual terms of those bogus contracts to begin with.
In fact, most of Congress and Obama's attentions have been in attempting to hawk refinances instead to get more and more Americans, it appears, into some of those bogus loans in order to use to pay back some of these investors, apparently.
Or for those "new" jobs created in the mortgage industry of now "mortgage counselors" to settle those debts with those investors by renegotiating the terms of those loans as the middle man with those homeowners, weighing the cost/benefit against foreclosing on the property and reselling it as to which would get those investors and those banks affiliated with Freddie Mac and Fannie Mae more.
Many of those loans, of course, were sold through California lenders which were not even based on the U.S. currency, but on the British LIBOR rates.
In the banking industry, the connections between New York and Wall Street and California and those mortgage bankers is strong.
After this week's bust and play acting by the Senate with respect to any true financial sector/Wall Street reform, I'm wondering when those in Washington will get around to addressing the fallout to the true victims of this passion play.
The American people, and mostly those American homeowners in the West and Southwest which New York and its brash comedians maligned in a roundabout way once again last Saturday night.
Watch Washington give Goldman Sachs a lengthy tongue lashing, as what occurred today by selected Senators needing some face time with the media for the upcoming elections, and then purportedly levy a heavy fine.
While the true victims continue to lose their homes, jobs and even lives in the West and Southwest due to Washington's continued political maneuvering protecting the bankers and appeasing the foreigners while raping the citizenry.
Tuesday, April 20, 2010
Mr. Cantor: Financial Services Bill Misses The Regulatory Mark
According to the mainstream media (which is so reliable at this point as a news source, sort of like many of the purported "global" citizen journalism sites funded by government grants at the taxpayer's ultimate expense with their propaganda also), Eric Cantor, that "Republican" from Virginia, is in Chicago bad-mouthing the intent of Obama's weak-kneed aims to somewhat rein in the financial sector under a purported Financial Services Bill.
At this point, it does seem to this American sort of like attempting to close the barn doors after the horses have escaped, where so much federal negligence was involved which contributed to the loss of homes and jobs of the legal Americans, while all actions now of Congress have been to escalate, rather than reduce, the impact their negligence created with Washington's symbionic relationship with the global bankers and financial wheeler dealers on Wall Street.
Or at least those global socialists in the U.S. that believe it is America that is destined to remain and continue as the police force of the world, for Europe, Israel or a host of other nations whenever they receive any "terrorist" threat from an "unfriendly" nation in that country's definition, rather than as the protector of American lives, individual freedoms and domestic focused livelihoods.
Mr. Cantor's concerns, of course, as one of the Global Socialists also on the Hill now in power is that such a bill would tie the hands of those Wall Street financial services global conglomerates, forcing them to then go to China for their funding.
His concerns also are for the claimed "American" investors, rather than the global ones which it is apparent are his foremost concerns in most of his comments, and their then confidence in Wall Street, so again it is the financial sector's whose interests he is most concerned with and its viability under his nebulous concepts of capitalism, rather than Constitutional government.
Since, of course, China is hardly our primary benefactor but instead it is the world bankers who basically run the entire world's economy through their various governmental subsidiaries in all but about six nations of the world - the Fed and the U.S. included since the bogus Federal Reserve Act was "passed" in 1913 by a rogue president and Congress, along with the 16th and 17th amendments which were in essence, as with the recent Health Deform legislation, written and passed without even a quorum of Congress and "behind closed doors."
China is the U.S.'s greatest beneficiary, in fact, in the jobs that have been outsourced to that country also progressively under the Global Socialists and their bankers without any modicum of regulation or taxation for all that foreign bought labor at the American public's ultimate expense in propping up foreign economies once again at the cost of America's and Americans' own.
So it is once again the global investors that are the primary focus of the objections of the other branch of the Global Socialist Party, the Republicans, which is now getting media play.
Mr. Cantor, how about being concerned with the American citizens, you know those citizens now that are jobless and homeless due to Washington's progressively unconstitutional "hands off" attitudes with respect to foreigners and foreign investment in this country, which is undermining the entire fabric of this representative government that those founders created?
Such talk at this point by the Obama Administration does appear to be so much rhetoric, and definitely aimed at attempts to hold off the anticipated losses of those Global Socialst Democratic seats that are now on the line due to the continuing outrage of the American people with both the outsourcing and insourcing which has caused the American people loss of jobs in the literally millions at this point.
How about ripping those charters out from under those banks in the West and Southwest that the FBI is purportedly investigating, but at a snail's pace, of those lenders such as Indy Mac, Bank of America and Countrywide who were selling loans in this country to the American people during that short boom who were forced into refinances due to the escalating costs of ownership that were not even based on the U.S. currency, but on the British one?
How about mandating that any and all executive compensation packages and bonuses must be approved by the uninvolved stockholders and shareholders, especially for those companies whose expenditures for such sums have caused those major global corporations, some not even domiciled in the U.S. such as AIG, to be the recipients once again of the American people's largesse, who are progressively being bankrupted by Washington with such moves?
How about rescinding that former bogus Act of Congress of many years ago which also lead to this that also then attempted to preclude the state governments from actually doing their jobs, and regulating those banks and lenders engaging in intrastate commerce within their own state borders?
How about saving the taxpayer's some money for all those travel expenses that those in Washington also bill the American taxpayers for these road trips, and actually start doing your jobs?
Like maybe cutting the expenses also for the greatest expenditure now, the continuing War on Terrorism, while not seeing the true threat and looking the other way while Wall Street continues to sell shares on the global exchange of America's nuclear reactors and generators, and infrastructure compromising the safety of then the entire population of this country in the process in the guise of capitalism but which is nothing more than treason?
The next job stimulus in my opinion for all those new jobs created in the financial sector once again by the Bush/Obama Administration in the collection and foreclosure industry should mandate that these corporate collection vipers begin making some international calls, and calling in those markers for all that foreign aid which has been given progressively to Israel, France or any number of other nations to set up some repayment schedules for that debt, including the present costs with this continuation of this now clearly "Global War on Terror" for which is it merely Americans by and large risking their lives
I mean just where are those "matching sum" of troops from Israel, Great Britain and Franch in this escalating and ongoing nine year Global War primarily on their behalf at this point?
At this point, it does seem to this American sort of like attempting to close the barn doors after the horses have escaped, where so much federal negligence was involved which contributed to the loss of homes and jobs of the legal Americans, while all actions now of Congress have been to escalate, rather than reduce, the impact their negligence created with Washington's symbionic relationship with the global bankers and financial wheeler dealers on Wall Street.
Or at least those global socialists in the U.S. that believe it is America that is destined to remain and continue as the police force of the world, for Europe, Israel or a host of other nations whenever they receive any "terrorist" threat from an "unfriendly" nation in that country's definition, rather than as the protector of American lives, individual freedoms and domestic focused livelihoods.
Mr. Cantor's concerns, of course, as one of the Global Socialists also on the Hill now in power is that such a bill would tie the hands of those Wall Street financial services global conglomerates, forcing them to then go to China for their funding.
His concerns also are for the claimed "American" investors, rather than the global ones which it is apparent are his foremost concerns in most of his comments, and their then confidence in Wall Street, so again it is the financial sector's whose interests he is most concerned with and its viability under his nebulous concepts of capitalism, rather than Constitutional government.
Since, of course, China is hardly our primary benefactor but instead it is the world bankers who basically run the entire world's economy through their various governmental subsidiaries in all but about six nations of the world - the Fed and the U.S. included since the bogus Federal Reserve Act was "passed" in 1913 by a rogue president and Congress, along with the 16th and 17th amendments which were in essence, as with the recent Health Deform legislation, written and passed without even a quorum of Congress and "behind closed doors."
China is the U.S.'s greatest beneficiary, in fact, in the jobs that have been outsourced to that country also progressively under the Global Socialists and their bankers without any modicum of regulation or taxation for all that foreign bought labor at the American public's ultimate expense in propping up foreign economies once again at the cost of America's and Americans' own.
So it is once again the global investors that are the primary focus of the objections of the other branch of the Global Socialist Party, the Republicans, which is now getting media play.
Mr. Cantor, how about being concerned with the American citizens, you know those citizens now that are jobless and homeless due to Washington's progressively unconstitutional "hands off" attitudes with respect to foreigners and foreign investment in this country, which is undermining the entire fabric of this representative government that those founders created?
Such talk at this point by the Obama Administration does appear to be so much rhetoric, and definitely aimed at attempts to hold off the anticipated losses of those Global Socialst Democratic seats that are now on the line due to the continuing outrage of the American people with both the outsourcing and insourcing which has caused the American people loss of jobs in the literally millions at this point.
How about ripping those charters out from under those banks in the West and Southwest that the FBI is purportedly investigating, but at a snail's pace, of those lenders such as Indy Mac, Bank of America and Countrywide who were selling loans in this country to the American people during that short boom who were forced into refinances due to the escalating costs of ownership that were not even based on the U.S. currency, but on the British one?
How about mandating that any and all executive compensation packages and bonuses must be approved by the uninvolved stockholders and shareholders, especially for those companies whose expenditures for such sums have caused those major global corporations, some not even domiciled in the U.S. such as AIG, to be the recipients once again of the American people's largesse, who are progressively being bankrupted by Washington with such moves?
How about rescinding that former bogus Act of Congress of many years ago which also lead to this that also then attempted to preclude the state governments from actually doing their jobs, and regulating those banks and lenders engaging in intrastate commerce within their own state borders?
How about saving the taxpayer's some money for all those travel expenses that those in Washington also bill the American taxpayers for these road trips, and actually start doing your jobs?
Like maybe cutting the expenses also for the greatest expenditure now, the continuing War on Terrorism, while not seeing the true threat and looking the other way while Wall Street continues to sell shares on the global exchange of America's nuclear reactors and generators, and infrastructure compromising the safety of then the entire population of this country in the process in the guise of capitalism but which is nothing more than treason?
The next job stimulus in my opinion for all those new jobs created in the financial sector once again by the Bush/Obama Administration in the collection and foreclosure industry should mandate that these corporate collection vipers begin making some international calls, and calling in those markers for all that foreign aid which has been given progressively to Israel, France or any number of other nations to set up some repayment schedules for that debt, including the present costs with this continuation of this now clearly "Global War on Terror" for which is it merely Americans by and large risking their lives
I mean just where are those "matching sum" of troops from Israel, Great Britain and Franch in this escalating and ongoing nine year Global War primarily on their behalf at this point?
Monday, December 21, 2009
Global Economy On Rebound: U.S. The Losers
In today's online editions of several mainstream news organizations and internet news sources, the top story was that economists are stating that the final quarter figures for 2009 shows that the economy is getting stronger, and that it does appear it is on the rebound.
And are predicting an even greater and brigher future for 2010.
Apparently, "accuracy in news" hasn't reached the AP yet, since the only economy which it appears is growing is on Wall Street, not Main Street America. In fact, there still is one foreclosure every 13 seconds still occurring, and the jobless rate has worsened with many more laid off or underemployed Americans.
The U.S. Department of Labor figures, remember, only count those that are collecting unemployment. Not those whose benefits have run out, the self-employed, or those now that are underemployed and waiting tables or behind retail counters after their jobs were outsourced under some of those great government bailouts.
And it appears all those vacant homes in the West and Southwest are being made ready for the Canadian retirees, possible "new" Americans due to another amnesty bill that is waiting in the wings, and 26,000 Iraqi refugees which will be resettled in this country. Of course, after clearly invading it rather unlawfully to begin with.
So the Wall Street financiers and banks can collect all those junk fees once again on those "new" loans and the fine print that many of these foreign immigrants won't be able to read.
Isn't "globalism" great, America? You homes and jobs are being outsourced and insourced in order that the global, mostly New York based economists can put a star next to their economic indicators.
Of course, the caveat is that this rebound will only continue so long as Americans continue to go into debt and spend. Sort of like Washington. Encouraging Americans to become indebted to the bankers, is like our debt now to China while still writing checks to every other foreign government that comes down the pike.
And interesting this "forecast" would come the month of Christmas, when of course spending is up due to the holiday itself - and Americans do have a hard time explaining to their kids that Santa just won't be able to make it this year, especially when they have that piece of plastic at 13-21% interest that just came in the mail as the bankers "stimulus."
The link:
http://enews.earthlink.net/article/top?guid=20091222/1ec14c40-fb65-459f-9524-ac6fca50d9b9
And are predicting an even greater and brigher future for 2010.
Apparently, "accuracy in news" hasn't reached the AP yet, since the only economy which it appears is growing is on Wall Street, not Main Street America. In fact, there still is one foreclosure every 13 seconds still occurring, and the jobless rate has worsened with many more laid off or underemployed Americans.
The U.S. Department of Labor figures, remember, only count those that are collecting unemployment. Not those whose benefits have run out, the self-employed, or those now that are underemployed and waiting tables or behind retail counters after their jobs were outsourced under some of those great government bailouts.
And it appears all those vacant homes in the West and Southwest are being made ready for the Canadian retirees, possible "new" Americans due to another amnesty bill that is waiting in the wings, and 26,000 Iraqi refugees which will be resettled in this country. Of course, after clearly invading it rather unlawfully to begin with.
So the Wall Street financiers and banks can collect all those junk fees once again on those "new" loans and the fine print that many of these foreign immigrants won't be able to read.
Isn't "globalism" great, America? You homes and jobs are being outsourced and insourced in order that the global, mostly New York based economists can put a star next to their economic indicators.
Of course, the caveat is that this rebound will only continue so long as Americans continue to go into debt and spend. Sort of like Washington. Encouraging Americans to become indebted to the bankers, is like our debt now to China while still writing checks to every other foreign government that comes down the pike.
And interesting this "forecast" would come the month of Christmas, when of course spending is up due to the holiday itself - and Americans do have a hard time explaining to their kids that Santa just won't be able to make it this year, especially when they have that piece of plastic at 13-21% interest that just came in the mail as the bankers "stimulus."
The link:
http://enews.earthlink.net/article/top?guid=20091222/1ec14c40-fb65-459f-9524-ac6fca50d9b9
Saturday, April 11, 2009
AIG: The Sanctity Of Contracts?
Recently "Break the Matrix" and Fox aired a segment from Judge Andrew Napolitano's "Freedom Watch" program with respect to the recent actions of Andrew Cuomo, Governor of New York, over the AIG executive bonuses and his actions visiting the executive's homes and demanding that these executives return those bonuses. Judge Napolitano was outraged, and relied on the Constitutional provisions with respect to contracts on the bonus issue.
I have just one problem with that. Contracts in bankruptcy or restructuring actions have never been ruled as "inviolate" when individuals are seeking bankruptcy protection, nor corporations, through the federal court system.
In fact, many contracts are set aside in such procedures depending on the assets, and future obligations are also scrutinized carefully since it is the trustee and court's job to protect the creditors primarily in getting the debts satisfied in whole or in part through whatever assets remain of the debtor and distributed accordingly at the time of filing. What can be protected by the debtor is also set by state and federal statute in order not to knock the legs totally out from under the debtor.
Also, the timing of execution of those contracts is also examined carefully, since there is a time frame prior to bankruptcy which must be met before that contract can be held valid in order to also protect the creditors - many a debtor has attempted to transfer assets using contracts in avoid their inclusion in the bankruptcy action which may be entered into when it appears bankruptcy is inevitable as an protection and avoidance tactic. How do I know this? I have had both friends and family members who have had to file bankruptcy both personally, and for their small businesses. I also worked as a contract law paralegal for many years.
Below is a copy of my letter to the Judge after viewing this segment:
Dear Judge Napolitano:
I just finished watching another interview on Fox regarding the AIG bonuses and Geithner's actions.
I am very, very confused as to where you are actually coming from.
Mr. Geithner, with respect to AIG at this point, since he was unlawfully transferred the trusteeship for this in effect bankruptcy action of a "global" corporation by Congress when they had no Constitutional authority to do so for this "restructuring" outside the federal court's jurisdiction, is in essence acting as trustee for the stockholders and shareholders and the American people.
Contracts are not inviolate under our Constitution nor under the common law and existing case law. As a matter of fact, many, many contracts are "set aside" for various reasons, especially in bankruptcy actions depending on just when those contracts were executed, whether they are "excessive" in their terms, and depending on the assets of the person or business claiming bankruptcy.
Corporations are not "persons" they are "property." They can be bought and sold. In a normal bankruptcy for an individual, all of their assets are up for grabs in order to satisfy the debts - which would include also any future obligations.
You can "contract" for a hit man, but that doesn't make that contract valid.
So just why does the media and the media representatives continue with all this smoke and mirrors with respect to the validity of this entire "bankruptcy," not to mention those bonuses - for a global corporation outside Constitutional authority to begin with?
I have just one problem with that. Contracts in bankruptcy or restructuring actions have never been ruled as "inviolate" when individuals are seeking bankruptcy protection, nor corporations, through the federal court system.
In fact, many contracts are set aside in such procedures depending on the assets, and future obligations are also scrutinized carefully since it is the trustee and court's job to protect the creditors primarily in getting the debts satisfied in whole or in part through whatever assets remain of the debtor and distributed accordingly at the time of filing. What can be protected by the debtor is also set by state and federal statute in order not to knock the legs totally out from under the debtor.
Also, the timing of execution of those contracts is also examined carefully, since there is a time frame prior to bankruptcy which must be met before that contract can be held valid in order to also protect the creditors - many a debtor has attempted to transfer assets using contracts in avoid their inclusion in the bankruptcy action which may be entered into when it appears bankruptcy is inevitable as an protection and avoidance tactic. How do I know this? I have had both friends and family members who have had to file bankruptcy both personally, and for their small businesses. I also worked as a contract law paralegal for many years.
Below is a copy of my letter to the Judge after viewing this segment:
Dear Judge Napolitano:
I just finished watching another interview on Fox regarding the AIG bonuses and Geithner's actions.
I am very, very confused as to where you are actually coming from.
Mr. Geithner, with respect to AIG at this point, since he was unlawfully transferred the trusteeship for this in effect bankruptcy action of a "global" corporation by Congress when they had no Constitutional authority to do so for this "restructuring" outside the federal court's jurisdiction, is in essence acting as trustee for the stockholders and shareholders and the American people.
Contracts are not inviolate under our Constitution nor under the common law and existing case law. As a matter of fact, many, many contracts are "set aside" for various reasons, especially in bankruptcy actions depending on just when those contracts were executed, whether they are "excessive" in their terms, and depending on the assets of the person or business claiming bankruptcy.
Corporations are not "persons" they are "property." They can be bought and sold. In a normal bankruptcy for an individual, all of their assets are up for grabs in order to satisfy the debts - which would include also any future obligations.
You can "contract" for a hit man, but that doesn't make that contract valid.
So just why does the media and the media representatives continue with all this smoke and mirrors with respect to the validity of this entire "bankruptcy," not to mention those bonuses - for a global corporation outside Constitutional authority to begin with?
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