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I can see that both the Republicans and Democrats are playing the 'dance card' for Wall Street, but I think the most sickening thing about what is going on now, is that in the end, they are both playing on the same team, which means:

Main Street loses...........again, and Wall Street wins............again...I keep wondering why?  Don't you?

In the end, we can blame the media, we can blame the gridlock in our system, and just say that the Republican party of 'No' is to blame, and for the most part, I admit they are, but can we at least admit, as the Democratic Party, the Party known as the 'Working Man's/Woman's Party' that this financial reform package, on both sides of the isles is a sham? Because it is, and so I want to open a discussion today about what this bill will actually do, what 'secret deals' are being done behind our backs, and where you stand, as a Democrat and an American.

Thanks to another truth teller (SageBrush Bob) I am starting this diary, again.  Never be afraid to this great idiom: You can start your day all over again no matter what the time is:  Listen and listen carefully if you dare to:

Let me ask you, what part of this video do you not agree with?  Can we be honest now with each other?  Stop pretending that Obama and Biden all of a sudden showed up for the Miners that died today, to 'weep' with their families, while expanding 'Drill Baby Drill' as 42,000 gallons of oil an hour are ruining the Gulf Sea Beds, all the sea life, the food for fisherman and families, and we still hold dear to not hold our government...no matter what or who are leaders are..because they are 'so called' Democrats?

I guess if I wrote a diary with the words fuck you, fuck everything fuck fuck fuck, like Shiz did the other day it might get some attention for the point I am trying to make.  Wake up people....we are being 'had'...do you get that at all?

First of all, I would ask that you stop saying: that you can do nothing about this.  That is false.  You can and you will if you want change.  Let's start this debate on the right note:  We are the change.  Do you believe that?  If not, then you are in the wrong diary.

I never thought the day would come when I would long for Woodward and Bernstein, but here it is.  You say:  Well, things have changed..now the media is in control...now we do not have a say...now the two party system is no longer viable, but does that give us just another excuse to 'give up' and not face reality, when so many others are fighting for the very life of our Democracy?  

I think not.

What would you, personally, like to see happen as a result of this Financial Reform Bill?  

Be specific.  Please stop with the excuses.  We do not have time for that anymore.  Let's all put our cards on the table, ok?

How do you think we can make this happen?  Do you believe the President Obama is supportive of real change and accountability?  If not, please voice your concerns....if so...voice your support, but please consider the outcome of your willingness 'to make compromises' to 'just get a deal' and ultimately what that 'deal' will cost Americans, and more importantly, what it has already cost.

I've watched over the past 18 months as so many brilliant commentators and experts keep pointing out the same issues time and time again, such as William K. Black, Simon Johnson, Joe Stiglitz, Elizabeth Warren, and even former and present day members of the Federal Reserve, which is all falling on deaf ears, and I keep wondering, where is our President?  He has truly surrounded himself with the 'golden boys of Wall Street,' Geithner and Summers who are adverse to breaking up the Banks, and are adverse to strict oversight and transparency of derivatives, yet President Obama comes out and simply makes 'pretty speeches' while behind the scenes there are deals being 'done' that you and I apparently have no say in.  It's all Cris Dodd's fault?  I think not, do you think the President does not meet with Senator Dodd?  Do you really think that?

I ask you, who's side is the President on?  Do you know?  Do you care? Does it matter to you?

Take a moment to review:  ("William Black Warns That Financial Reform Bill Won't Stop the Wall Street Crime Wave," Dan Froomkin, HuffPo, April 21, 2010)

How many warnings do we need?  How many 'rationalizations' will it take before we are finally able to understand the seriousness of where American has come to?  Janet Tavakoli has it exactly spot on:

I urge the President to play the race card--the human race card. The Founding Fathers sought to protect the Republic from this tyranny of private interests. This was meant to be a place where all members of the human race have a fair opportunity to thrive.  These show trials and faux 'investigations" distract us from the real job of reform and protect Wall Street's interests. It's time to bring back Black--or regulators like him--and truly give us our "Pecora" moment.

Here it is plain and simple people:  There is FRAUD being allowed to take place by our government and by the President Obama and AG Eric Holder and the Department of Justice.

You can deny it if you want to, but that is simply not the case.  Every single fact that is out there, will prove it otherwise.

Failed Regulators Are Still in Charge

Our financial "investigations" aim to miss. First, the media writes breathless articles portraying Washington's financial "investigators" as "tough." Each new commission is billed as our "Pecora" moment. The "investigators" hire teams of staffers who badger people like me for charity with insightful questions like: "What's a CDO?" Treasury, Federal Reserve, and Wall Street notables loudly complain about "unfair" and "harsh" investigators. Then everyone marches to the Hill where the committee pelts Wall Street executives with verbal marshmallows. Here are just four examples:

The FCIC: Phil Angelides, Chairman of the Financial Crisis Inquiry Commission, had Robert Rubin, Citigroup's former senior advisor (also former Treasury Secretary under President Bill Clinton, and former Co-Chair of Goldman Sachs), and Chuck Prince, former CEO of Citigroup, in the palm of his hand. He failed to question them about Citigroup's sales of complex CDOs and a $200 million loan to the failed Bear Stearns hedge funds, even though it was public information and a classic situation for securities fraud. The SEC:  The SEC filed a recent complaint of alleged fraud in a civil lawsuit against Goldman Sachs. The complaint did not mention that Goldman may have used the subprime mortgage-linked security at issue to unload other complex bonds it created. The complaint strikes me as an SEC publicity stunt. Wall Street banks had deep ties (and often ownership) with corrupt mortgage lenders and created phony securities that funded loan fraud. Corrupt finance--enabled by the SEC's multi-year failures--amplified the problem. The SEC (rating agencies, and more) behaved as collaborators, and now they seem to want credit for bringing one seemingly incomplete complaint against a sapling, while the forest fire rages on.

For more on this 'truth telling article see:'

http://www.huffingtonpost.com/...

Strange thing is, I keep waiting for that 'one moment in time,' like Watergate, where 'Deep Throat' finally came forward, and the damn to break, where one decent single American will come forward and lead us all out of this 'madness' and 'chaos' and pretension that we are not on the complete abyss of finally being forced into a corner to decide right from wrong in our nation.

We try so hard to make it more than this, but that is simply not the case.  We keep blaming it on the media, and on politics, but that is not the case.  We have come to this place in our nation, where we must decide from this point on:

Do we allow President Obama and the Department of Justice to simply ignore the FRAUD and CROOKS that have taken over our nation, or do we stand up and fight for what is right?

Do we keep blaming it on the Republicans, when they are 'protecting' the same people that Senator Dodd, Timothy Geithner, Larry Summers and Ben Bernanke are protecting?

What happened to transparency?  What happened to a nation of 'Laws' not of men?  

We cannot keep blaming this situation on our two party system any longer, because both parties are hiding the 'nation wide cover up' that William K. Black and others have had the courage to stand up to.

The big mystery for the moment is how come a few good men of stature in important places have not stepped forward to say the right thing or do the right deed. How come no US congressperson challenged the knavish behavior of Republicans who condone malicious idiocy that they know to be false like the so-called "birther" activity. How come no putative "progressive" has called the Democrats on their disingenuous failure to call illegal immigrants what they are. How come no state attorney general has filed charges against TBTF bank misconduct even if the US attorney general lies in state over at the US DOJ. How come no political figure of any stripe has called for the resignation of Summers, Rubin, Gensler and other Goldman Sachs "sleepers" infesting high levels of government. How come Dylan Ratigan is the only visible figure in any major newsroom willing to identify the precise nature of the meta-swindle.
    When this sucker goes down, our primary task will be reorganizing American life on a much more local and de-complexified basis. It's a very big assignment and especially daunting against a possible background of political disorder. The losses will be epic and the changes severe, but it doesn't have to mean the end of recognizably American culture. There will be very little money around, and it may end up being a certificate backed by gold issued by a bank other than the Federal Reserve. Or maybe we'll just be swapping stuff for the makings of dinner.
    So many forces are roiling around 'out there' now that it's hard to believe that the authorities in government and banking can keep the illusion of normality going a whole lot longer. The possible litigation against Goldman Sachs-style frauds by a thousand aggrieved victims is enough to paralyze the system. Meanwhile, trillions in credit default swaps are ticking away like dirty bombs. Greece is going down, with Portugal, Spain, Ireland, and the UK standing by to go next. Nobody can pay their bills. Before long, the old folks won't get their checks. Then the poor folks. Lately, I wonder if there will even be an election six months from now.

http://kunstler.com/...

Sometimes, I think the 'real' problem is that we are so busy 'protecting' our particular 'political parties interest' that we forgot how to be Americans, and to be courageous enough like William K. Black to just speak the truth, and demand that our leaders, actually 'Lead' us back to a state of sanity.

This includes:  The rule of law, this includes, holding those accountable that led us to this place, to demand that our 'Leaders' stand up for the tried and true 'protections' of the first 17 pages of the Glass-Steagall Act, for demanding transparent derivative trades in our markets, for demanding that those that have 'committed fraud' whatever their 'contributions' to the White House of either party, be held accountable, and for all of us to:

Stop blaming this on the media.........stop blaming it on either party, and start demanding change and sanity again.

That is why, it is called:  The Rule of Law.  Laws are exactly what have kept all 'civilizations' intact and sane for thousands and thousands of years.

Without them, we are lost, we are left open to the hands of the very Robber Barons that fought tooth and nail to make certain that the very heart and soul of the Democratic Party...the Unions..would never survive to have a decent home, a decent wage, a chance at the American dream.  

Do you have any stories of your parents or your grand parents that died in those struggles?  I do.

Let's share them again.  Let's remember again...

Because whether or not you may not realize it now, we are right back where we started in when the Unions of this country first came into being.

Man, when perfected, is the best of animals, but when separated from law and justice, he is the worst of all.
                                            Aristotle

Criminals do not die by the hands of the law; they die by the hands of other men.
                                           George Bernard Shaw

The good of the people is the chief law.
                                           Cicero

Just a reminder, as a fellow Democrat...don't forget where we came from:

   

"Rally and March WITH AFL-CIO PRESIDENT RICHARD TRUMKA — NEW YORK CITY— FINANCIAL DISTRICT," the flier says.

   "Wall Street tanked America’s economy ... We’re 11 million jobs in the hole, and it’s time for Wall Street to pay up to create them. Join AFL-CIO President Richard Trumka and thousands of union and community activists from across the country in the heart of the financial district on April 29th to MAKE WALL STREET PAY."

I welcome all thoughts and views on this debate....but I would ask you to view the present day argument, that addresses this single issue:

Where is Rico?

Where are the Hand cuffs?

Where is the FRAUD being addressed?

Where is the Real Reform in this 'secret bill' that so few of us know about, and who, is going to make out in the end?

Where does President Obama 'really' stand on these issues?

Do you know?

I don't.

Thanks.

Originally posted to Badabing on Sun Apr 25, 2010 at 05:46 PM PDT.

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Comment Preferences

    •  Black delivered a stunning indictment... (16+ / 0-)

      You're right: where are the handcuffs?

      Better yet, where's the brave U.S. attorney(s) with a good working knowledge of the RICO statute and enough cojones to actually prosecute these criminals?

      Nearly all men can stand adversity but if you want to test a man's character, give him power - Abraham Lincoln

      by markthshark on Sun Apr 25, 2010 at 06:06:40 PM PDT

      [ Parent ]

    •  Thank you! This is certainly on target. (3+ / 0-)
      Recommended by:
      markthshark, Badabing, svboston

      The Fed's own Richard W. Fisher, president of the Federal Reserve Bank of Dallas, speaking on March 3rd 2010:

      The Fed Needs to Regulate Banks of All Sizes
      ...In theory, the Fed’s monetary policy and regulatory functions are separate. In practice, they are anything but—rather, it is a symbiotic relationship. The past two years have highlighted the interconnections of monetary and regulatory policy: Monetary policy depends upon regulation that ensures the soundness of financial institutions.

      Changes in the fed funds rate and other methods employed to implement monetary policy get transmitted to the economy through the arteries of the financial sector, affecting the rate at which businesses produce and grow employment, the exchange rate of the dollar and, by extension, international trade and capital flows. The process works most efficiently when those arteries are open and healthy and strong. Sclerotic banks cannot lend and properly act as intermediators. When they cannot lend or are otherwise hampered, monetary policy actions lose their capacity to influence the economy with accustomed efficiency.

      Here is the message for those who would peel away regulatory policy from the Fed: We depend on our regulatory arm to provide in-depth, hands-on assessments to guide us as we perform our duty as the lender of last resort. We can’t properly operate a discount window or perform the functions of lender of last resort if we don’t have firsthand knowledge of our borrowers’ financial health. We cannot implement monetary policy effectively without staying abreast of developments in the banking and financial system through the eyes and ears and constant contact of the 12 banks in our system who observe up close and personal the activities of banks of all sizes—from the roughly $1.7 trillion in assets we observe in the 843 state member banks we regulate to the roughly $16.8 trillion in assets of the 5,002 bank holding companies, including but not exclusively large financial institutions, or "LFIs," which we regulate....

      His prescription? Break up the Too-Big-To-Fail banks.

      They only call it class war when we fight back! h/t: buhdydharma The work goes on....

      by ezdidit on Sun Apr 25, 2010 at 06:33:31 PM PDT

      [ Parent ]

    •  Where does President Obama 'really' stand... (4+ / 0-)

      on these issues?

      Badabing, I am convinced that he stands on the precipice. The edge. I believe he can see over the edge. The financial edge. The US financial edge is almost utterly dark. Hardly any light to be seen. His economy has few prospects. His country is levered beyond reason. Mistakes here could cost the US and his Democratic party 30yrs.

      If we saw what he sees, most would panic. He cannot. He has nowhere to go but...slow. JMHO.

      •  Not true...we must face up to the truth.. (3+ / 0-)
        Recommended by:
        joanneleon, markthshark, pawtucketpat

        that is what we are so afraid of....why is he?  Why are we?

        Yes, we are on the precipice.  It is not his fault.  But no matter what anyone tells you, no problem will ever be solved without going to the 'root' of how we got here.

        I don't blame Obama...he does not really understand what most of our leaders do not...

        We keep waiting for one single leader, to point to the same single thing that we all know:

        Our system is fully corrupt.  Everyone knows this...I ask you this:

        What is better: truth and reparation, or panic?

        Is that the choice we have come down to?

        I hate both of those choices, but surely it is better than letting the 'tea baggers' take over our nation.

        My heart goes out to President Obama, but he must lead now, and if you noticed, the house is fully ready to be taken over again..

        Why do you think this has happened?

        I wish I could say that our system is working, but it is not.

        Isn't that what matters most in the end?

        Thanks.

        ...oh, not to worry, I'm wearing a Flame Retardant Valentino Orange Moo Moo whenever I visit DailyKos.

        by Badabing on Sun Apr 25, 2010 at 09:35:04 PM PDT

        [ Parent ]

        •  I liken it to an ER doctor... (0+ / 0-)

          His patient is in intensive care and near death. So, what is the ER doctor to do? Attend the patient OR research the cure?

          Everyone knows a cure is needed. Everyone agrees that the work of finding a cure must be done stat.  They also know that our President has two houses of Congress that are supposed to help find that cure. The more difficult question IMO, is, "Will Congress provide an honest assessment and research effort for this patient?"

    •  Obama - Give the Goldamn money back (6+ / 0-)

      From The Automatic Earth

      I think perhaps the best incidence of this, frankly, amoral attitude, lies in the president's refusal to give back the money, $1 million, that Goldman Sachs donated to his campaign (let alone the $23 million more from other financial institutions). Look, buddy, Goldman Sachs has been accused of fraud. That alone should be enough to reconsider, and return the loot. A president's moral behavior shouldn’t be just OK, it should be impeccable. You're supposed, make that required, to set the example for everyone.

      I know it's not yet a criminal case, it’s still civil court, but that should not make any difference. And you know why? Because it's not like it's Kim Jong-il or Tony Soprano who are the accusers, it's a branch of your own bleeding government! And no matter how you might want to twist and turn it, it doesn't exactly look like moral high ground if one branch of government files a complaint for fraud against a party, while another one rakes in that party's cash, which for all anybody knows might have been "earned" with that same fraud. And certainly not if that other branch is the president himself.

      http://theautomaticearth.blogspot.co...

      ...someday - the armies of bitterness will all be going the same way. And they'll all walk together, and there'll be a dead terror from it. The Grapes of Wrath

      by deepsouthdoug on Sun Apr 25, 2010 at 08:17:04 PM PDT

      [ Parent ]

      •  Give it back to whom? (0+ / 0-)

        I think people get confused when they read something like "(X institution) donated (X)dollars to (insert politician's name)."  Businesses (prior to the recent SCOTUS decision) couldn't donate money to candidates or campaigns.  Individuals do.  In other words, Goldman Sachs didn't donate a dime to any presidential campaign.  GS employees did.  So which GS employees' political contributions should be returned?  All of them?  Even folks who work in the mail room or the secretary pool?  Just upper level employees?  How should that be determined?  

        "You must be the change you wish to see in the world." -Gandhi

        by Triscula on Mon Apr 26, 2010 at 04:47:07 AM PDT

        [ Parent ]

    •  Where were these howls when Bush was in office? (0+ / 0-)

      Obama is doing more to clean up the system than anyone else has ever done.

  •  Very good diary (14+ / 0-)

    I have came to the conclusion that the reason anything is happening about Wall Street is because other countries were demanding it.  It is a show.

    Dean BAker should have at least been put on the deficit committee rather than Simpson.

    FDR surrounded himself by decent, intelligent people who cared about the people.  They did a fine job and he was re elected several times. And it worked for the people.

    Nothing the republicans and their enablers have done has worked for our benefit.  

    Look at us getting nothing for our savings and they are ripping off the children with high credit card rates and college loans.

    We didn't say Wealth Care, we said Health Care

    by relentless on Sun Apr 25, 2010 at 06:05:04 PM PDT

  •  Instead of arresting these criminals (9+ / 0-)

    We have Obama talking about working together with them. Mike Malloy sums up my feelings quite well:

    "To sin by silence when they should protest makes cowards of men." Abraham Lincoln

    by Sagebrush Bob on Sun Apr 25, 2010 at 06:36:45 PM PDT

    •  thank you for this video...I'm now going to (10+ / 0-)

      change the title and tone of this diary...based on this 'truth' that this man Mike Malloy and you have pointed out...

      It is about time, we faced up to where we are in our nation:

      President Obama is nothing more than 'tool for Wall Street' ................a FARCE.  

      Oh, right now I hear it coming:

      You could have President Palin if you don't just 'adjust' and suck it up....

      The biggest lie of all...

      When did we stop being Americans?

      thanks so much Sagebrush Bob for this video, because every single word of it is true....

      what does it matter if we are being sold down the river by both parties?  And fraud and corruption is being stamped as the 'new rule of law'..

      none of it matters...and I am sick to death of people on DailyKos, that are pretending otherwise.

      B.

      ...oh, not to worry, I'm wearing a Flame Retardant Valentino Orange Moo Moo whenever I visit DailyKos.

      by Badabing on Sun Apr 25, 2010 at 07:16:37 PM PDT

      [ Parent ]

  •  A small ray of hope (1+ / 0-)
    Recommended by:
    Badabing
    There is a breaking diary out now that Dodd is going to include Lincoln's derivatives measures in the bill.  http://www.nationaljournal.com/...

    ~War is Peace~Freedom is Slavery~Ignorance is Strength~ George Orwell "1984"

    by Kristina40 on Sun Apr 25, 2010 at 06:54:43 PM PDT

  •  if you were a bank robber (8+ / 0-)

    if you were a bank robber and you knew that the worse thing that could happen to you if you were caught red handed was you would have to pay the gov a small percentage of your looting,  What insentive is there to ever stop robbing?

    until HUNDREDS of these banksters are marched off to prison, until we start seeing sec/fbi raids on goldman sacht offices, we have nothing but Kabuki theatre.

    (regarding the bank mess) They want to cure the patient but not deal with the disease.

    by dark daze on Sun Apr 25, 2010 at 07:57:01 PM PDT

  •  and just wait, these thugs are getting (3+ / 0-)
    Recommended by:
    joanneleon, Arsenic, Badabing

    ready for the "Deficit Commission". Good dairy tipped and Rec'ed. I miss dairies like this being on the Recommend list.  

  •  If by "complicit" you mean ... (6+ / 0-)

    ... something along the lines of "of or relating to an attempt to regulate business and commerce in a way unheard of in decades while still managing an economy that was dangling over a cliff by a finger but has now got one tiny handhold and a shaky toehold near the precipice," then, yes, President Obama is complicit.  If you mean the actual definition of that word, then, no, you are way off.  

    "Obama, Obama, I love ya, Obama; you're only November away" -- cute ginger kid

    by Tortmaster on Sun Apr 25, 2010 at 09:44:40 PM PDT

  •  Great Diary! (3+ / 0-)
    Recommended by:
    DaleA, Badabing, politicjock

    This is exactly how I feel. I was so excited when Obama was elected, but now I wish I had registered as a republican to vote for Ron Paul in primaries.  People can call him crazy, but at least he gets the big picture-that our government/media keeps us arguing over stuff that doesn't matter while their wall street friends loot the country.

    I expect you to be flamed by the "Obama-bots" who are too star struck to see the big picture.

  •  Yawn...miss whining about HCR? n/t (1+ / 0-)
    Recommended by:
    WIds
  •  Do you remember? (3+ / 0-)
    Recommended by:
    joanneleon, Sagebrush Bob, Badabing
    I remember the reaction sparked by Jane Hamsher's proposal to work with Grover Norquist and the teabaggers. I remember specifically a diary by dengre, a man who worked his ass off to shine some light on the various Abramoff scandals. Norquist was at the heart of many of those criminal enterprises. dengre's diary essentially made the point that you simply go too far when you commit to stand arm and arm with Satan, even if your agendas happen to temporarily align.
    What he's talking about here is forming a partnership with the people who have raped and pillaged the country.
    Where is the dengre-type outrage? All I can say is that if Obama's going to make a deal with the devil, it should at least benefit the common good. Working with these pigs benefits only the upper classes - the working poor and those of us whose lives have already been destroyed by capitalism run amok, have no future. The rich get richer and the rest of us . . . . this won't end well. Class war never does.

    "Rules must be binding. Violations must be punished. Words must mean something." President Obama in Prague on April 5

    by jlynne on Sun Apr 25, 2010 at 10:46:28 PM PDT

  •  My Two Cents (1+ / 0-)
    Recommended by:
    Badabing

    Or, if you want the short version of this, read buckstop's comment. But since you asked, thought I'd share the background of why I hold that view.

    I've written 7 diaries and one of them was about a CNBC video for September 18, 2008: CNBC: Wall Street's "Bite of the Apple Solution". Much of the info in that diary relate to the following. At the time I was watching CNBC and the Market closely — the key week of the financial meltdown was the week Lehman Brothers failed on Monday, September 15th. If I remember correctly, CNBC was live that weekend (and I caught the tailend of that). So the first thing to remember is the timeline of events. Specifically, September 15th to September 19th — Week 15-19.

    A bit of trivia, that diary has market closing numbers for that week. Compare with Friday, April 23, 2010 when the market closed at 11204.28.

    There are two key videos — you might be aware of — that I've always remembered, which I'll call Liesman & Kanjorski. I saw the Liesman video live the day it aired September 18, 2008, but I'm going to start with the Kanjorski video, a C-SPAN interview, that (I believe) originally aired January 27, 2009. I'm sure you'll appreciate the irate caller at the beginning :). This diary, USA was 3 hrs away from Economic, Political Collapse in September 2008 (February 9, 2009) has 1173 comments and provides additional background on Week 15-19. But I think I viewed this video originally: Rep. Kanjorski: $550 Billion Disappeared in "Electronic Run On the Banks" & this is their transcript:

    On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two. Money was being removed electronically. The treasury tried to help with $150 Billion. But could not stem the tide. It was an electronic run on the banks. The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawled and collapsed and within 24 hours the world economy.

    Now I'm going to direct your attention to another blog post describing what Kanjorski said as the "The Kanjorski Meme" (see also, Kanjorski and the Money Market Funds: The Facts). They state there's no evidence that any of what Kanjorski described occurred — but Kanjorski said he got it straight from Paulson.

    For an alternative analysis and more info on the Kanjorski-Paulson exchange, check two Zero Hedge posts: here & here. (Additionally, there's a ton of analysis about this video in the blogosphere, almost nothing in MSM).

    Liesman video (btw, Liesman was one of the best at CNBC): Liquidity Injection - The Fed floods the globe with $180B, reports CNBC's Steve Liesman (9/18/2008). Now this is trackable on federalreserve.gov:

    Release Date: September 18, 2008 :: Today, the Bank of Canada, the Bank of England, the European Central Bank (ECB), the Federal Reserve, the Bank of Japan, and the Swiss National Bank are announcing coordinated measures designed to address the continued elevated pressures in U.S. dollar short-term funding markets. These measures, together with other actions taken in the last few days by individual central banks, are designed to improve the liquidity conditions in global financial markets. The central banks continue to work together closely and will take appropriate steps to address the ongoing pressures.

    Now, if Kanjorski is right on the date (the 15th), then that's the day Lehman collapsed. And I'll leave it to your imagination how that event is related to the Liquidity Injection on the 18th and Paulson & Bernanke's whereabouts that same day (in Pelosi's office having an emergency meeting). Btw, CNBC did not do any live programming on the weekend, so them going live was huge.

    My diary is about information concerning toxic assets, which have never been dealt with in totality (however, see Maiden Lane for info concerning AIG). They're key because that's where all the secrecy is. Toxic assets are the only trail of evidence that might determine how "broken" the system actually was, and still might be.

    What I've typed here is a quick overview and may not be current if new info has come out &c. So excuse any errors. I read other blogs where folks of different political POVs think Obama is doing a fine job of restoring The Republic, that that work is ongoing and, of course, that Tea-Baggers are quite silly. They are also aware of the many pitfalls of this process.

  •  "SAVVY Businessmen" Rather Than THIEVES (1+ / 0-)
    Recommended by:
    Badabing

    say it all.

    Obama refuses to look back but insists on "looking forward".

    Obama says there's only 1 justice systerm.
    (That is such a blatant and offensive lie!)

    Obama is a slick-tongued snake oil salesman.
    (Change we can believe in, MY ASS!
    Try same old song and dance!)

    And Holder is such a worthless piece of garbage.

  •  Yeah, sure, whatever (1+ / 0-)
    Recommended by:
    HamdenRice

    Obama is evil, Democrats=Republicans, we must gird our loins for the struggle, long live the glorious proletarian cultural revolution, up against the wall motherf--kers, freedom for the Brixton Six, death to the fascist insect, gimme some money (that's what I want).

  •  What you fail to realize (0+ / 0-)

    is that the retirement funds of most average, main street folks,are invested in Wall Street. When the Banksters bet, it's not their money at risk but ours.

    If Obama simply trashed the entire system, the rich guys would be off to Liechtenstein and the average retiree would be toast (without topping.)

    Quidquid latine dictum sit, altum viditur.

    by MrMichaelMT on Mon Apr 26, 2010 at 04:20:50 AM PDT

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