Tuesday, April 6, 2010

Obama To Let AIG Fraud Go Unpunished

I can't summarize this story any better than my friend and colleague "Jesse" of Jesse's Cafe Americain, so here is the link to story:   Another Broken Obama Campaign Promise

I will say that, with my securities industry background, training, knowledge and experience, AIG and Goldman Sachs and Henry Paulson and Tim Geithner and Ben Bernanke are being  permitted to get away with the largest fraud, theft and Ponzi scheme in the history of the planet. 

Obama promised to go after the Wall Street thieves and punish the guilty.  The American public has been bamboozled first by Wall Street and its enablers, and now by the man who promised "change and reform" of the way in which DC and Wall Street function.  By the way, does anyone realize that the Democrats extended the Patriot Act, secretly, by slipping its extension into the Healthcare Bill?  Anyone who voted for Obama and still supports his Presidency is either in complete denial of the Truth, completely naive or simply refuses to look at the facts.


  1. The nightmare of AIG, Freddie, Fannie and TBTF. It reminds me of a self-destruct order given by Capt. Kirk, only this time it's Banana Ben running the bluff. The only question is, how much time do we have before the bluff gets called.

    Joe M.

  2. Well FEDS minutes are out...seems currency destruction is right on schedule.....

  3. This was my comment on the Fed minutes that might get posted in Midas tonight:

    heh heh hehhh...good catch Andy. Here:

    "Fed watchers have informally translated the "extended period" to mean six months. But Fed officials said pledge would not tie their hands, the minutes said. A few FOMC members warned against an early start to rate hikes, the minutes said. At the meeting, Fed officials noted the economy was strengthening while core inflation readings were weaker than expected. There was little new about the ultimate exit strategy. According to the minutes, there was a discussion of formulating and communicating the exit strategy, but no decisions were made."

    Let me translate this: "the economy is still in bad shape, employment continues to deteriorate, if we start telegraphing rate hikes and liquidity tightening, the economy will fall off a cliff. We are not only not going to talk about an exit strategy for the trillions we threw at the system, but get ready for QE2. We will not telegraph this either, but watch the Treasury injections into Fannie, Freddie, FHA and the FDIC. We are looking forward to having Janet Yellen on board as Vice Chairman so we can begin talking about the merits of setting a negative interest rate policy."