Wednesday, February 10, 2010

How About Obama Calling Blankfein and Dimon "Savvy?"

“'I know both those guys; they are very savvy businessmen,' Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek." LINK

I guess if I were a whore politician I would refer to two of my largest campaign donors as "savvy" as well.  Of course, the only part of "savvy" that can be attributed to Blankfein and Dimon is in the way in which they ripped off tens of billions of taxpayer money.  Obama goes on to compare the compensation of Blankfein and Dimon to that of baseball players.  “[T]here are some baseball players who are making more than that and don’t get to the World Series either, so I’m shocked by that as well.”

Here's the difference.  Those baseball players provide daily entertainment to millions of viewers and fans worldwide.  And the fact of the matter is that, for sure Goldman and likely JP Morgan, these big banks would have collapsed last year if it weren't for the $100s of billions of taxpayer largesse funnelled by the Bush and Obama adminstrations from the Treasury and Fed to Wall Street. To compare Wall Street CEO compensation to that of baseball players is thus beyond absurd.  People willingly pay for tickets to games and they willingly turn on the t.v. and endure advertising in order to watch their favorite teams and players.  I don't think any Taxpayer willlingly offered up their tax money to Blankfein and Dimon. 

The funniest part of about Obama's comments is that, whether he understands it or not, and somehow I don't think he does, both Blankfein and Dimon robbed this country blind under Obama's watch.  Obama had a chance to halt the bailouts when he took office.  In Wall Street terminology, when a trader executes a trade that makes a lot money off of a client - especially when the trader has all the information advantages - it is known as "skull-f&#king" the client.  Thanks to Obama's policy of enablement, Wall Street has "skull-f$#ked" both the Obama Government and the Taxpayer.


  1. Obama certainly knows what's going on and his attitude toward their bonuses only cements it.

    Goldman provided $990k and JP gave $700k to Obama's campaign as undisclosed recipients...

    Here's a link to other top donors

  2. Plus there's this:

  3. The monied elite have owned this country since 1913. They also bought control of the press in 1915. This is what I call the "golden lock" on society. I also think that everything is a subset of this power-control block with much of it being a sideshow/circus. This will not end well.

    Joe M.

  4. Agree Joe. Amazing how few people really understand this.

  5. Every day I ask myself how long will this go on? How much more pain? What needs to happen that people around the world wake up?
    Last serving we'll get might be war. And we wait patiently for it and then go ahead as they want us to. They've f***ed you with AIG, now is our turn with PIIGS. We are all screwed and still nothing happens.