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Posted on 05/15/2010 7:56:54 PM PDT by bronxville
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Obamas Shorebank Connections Go Way Back (old newspaper clipping at source)
John on May 20, 2010 at 8:29 am
“There is now a demand by congressional republicans for a probe into the mysterious survival of Shorebank. The letter they sent to the President yesterday asks why did government-supported Wall Street banks decide to save ShoreBank rather than the numerous others [failing banks] that faced a capital shortage?
As the sidebar notes, Obamas connections to the world of socially responsible investing are both longstanding and personal. His friend John Rogers later became one of his campaign fundraisers. John Rogers was also the husband of Desiree Rogers who became the White House social secretary (she was let go after a couple of reality TV stars crashed a state dinner).
The sidebar also gives some more detail on the photo:
Obama is pictured above in 1988, honoring one of the founders of ShoreBank, one of the largest Community Development Financial Institutions (CDFIs) in the US.
And you have to love the second part of the sidebar, which notes (favorably) Obamas connection to Saul Alinsky:
The first social shareholder proxy initiative was organized by the iconic Chicago-based community organizer Saul Alinsky against Eastman Kodak in the late 1960s. Alinsky died in 1972. Barack arrived in Chicago 13 years later to work with the Developing Communities Project, an offshoot of Alinskys network, a context which must have made him conversant with proxy voting strategies.”...
THE SHOREBANK, OBAMA, CHICAGO CLIMATE EXCHANGE SCAM!
...A small bank in Chicago called SHOREBANK almost went bankrupt during the recession. The bank made a profit on its foreign micro-loans (see below) but had lost money in sub-prime mortgages in the US. It was facing likely closure by federal regulators. However, because the bank’s executives were well connected with members of the Obama Administration, a private rescue bailout was arranged. The bank’s employees had donated money to Obama’s Senate campaign. In other words, ShoreBank was too politically connected to be allowed to go under.
ShoreBank survived and invested in many “green” businesses such as solar panel manufacturing. In fact, the bank was mentioned in one of Obama’s speeches during his election campaign because it subjected new business borrowers to Eco-litmus tests.
Prior to becoming President, Obama sat on the board of the JOYCE FOUNDATION, a liberal charity. This foundation was originally established by Joyce Kean’s family which had accumulated millions of dollars in the lumber industry. It mostly gave funds to hospitals but after her death in 1972, the foundation was taken over by radical environmentalists and social justice extremists.
This JOYCE FOUNDATION, which is rumored to have assets of 8 billion dollars, has now set up and funded, with a few partners, something called the CHICAGO CLIMATE EXCHANGE, known as CXX. It will be the exchange (like the Chicago Grain Futures Market for agriculture) where Environmental Carbon Credits are traded.
Under Obama’s new bill, businesses in the future will be assessed a tax on how much CO2 they produce (their Carbon Footprint) or in other words how much they add to global warming. If a company produces less CO2 than their allotted measured limit, they earn a Carbon Credit. This Carbon Credit can be traded on the CXX exchange. Another company, which has gone over their CO2 limit, can buy the Credit and “reduce” their footprint and tax liability. It will be like trading shares on Wall Street.
Well, it was the same JOYCE FOUNDATION, along with some other private partners and Wall Street firms that funded the bailout of ShoreBank. The foundation is now one of the major shareholders. The bank has now been designated to be the “banking arm” of the CHICAGO CLIMATE EXCHANGE (CXX). In addition, Goldman Sachs has been contracted to run the investment trading floor of the exchange.
So far so good; now the INTERESTING parts.
One ShoreBank co-founder, named Jan Piercy, was a Wellesley College roommate of Hillary Clinton. Hillary and Bill Clinton have long supported the bank and are small investors.
Another co-founder of Shorebank, named Mary Houghton, was a friend of Obama’s late mother. Obama’s mother worked on foreign MICRO-LOANS for the Ford Foundation. She worked for the foundation with a guy called Geithner. Yes, you guessed it. This man was the father of Tim Geithner, our present Treasury Secretary, who failed to pay all his taxes for two years.
Another founder of ShoreBank was Ronald Grzywinski, a cohort and close friend of Jimmy Carter.
The former ShoreBank Vice Chairman was a man called Bob Nash. He was the deputy campaign manager of Hillary Clinton’s presidential bid. He also sat on the board of the Chicago Law School with Obama and Bill Ayers, the former terrorist.Nash was also a member of Obama’s White House transition team.
(To jog your memories, Bill Ayers is a Professor at the University of Illinois at Chicago. He founded the Weather Underground, a radical revolutionary group that bombed buildings in the 60s and 70s. He had no remorse for those who were killed, escaped jail on a technicality, and is still an admitted Marxist).
When Obama sat on the board of the JOYCE FOUNDATION, he “funneled” thousands of charity dollars to a guy named John Ayers, who runs a dubious education fund. Yes, you guessed it. The brother of Bill Ayers, the terrorist.
Howard Stanback is a board member of Shorebank. He is a former board chairman of the Woods Foundation. Obama and Bill Ayers, the terrorist, also sat on the board of the Woods Foundation. Stanback was formerly employed by New Kenwood Inc., a real estate development company co-owned by Tony Rezko.
(You will remember that Tony Rezko was the guy who gave Obama an amazing sweet deal on his new house. Years prior to this, the law firm of Davis, Miner, Barnhill & Galland had represented Rezko’s company and helped him get more than 43 million dollars in government funding.Guess who worked as a lawyer at the firm at the time. Yes, Barack Obama).
Adele Simmons, the Director of ShoreBank, is a close friend of Valerie Jarrett, a White House senior advisor to Obama. Simmons and Jarrett also sit on the board of a dubious Chicago Civic Organization.
Van Jones sits on the board of ShoreBank and is one the marketing directors for “green” projects. He also holds a senior advisor position for black studies at Princeton University. You will remember that Mr. Van Jones was appointed by Obama in 2009 to be a Special Advisor for Green Jobs at the White House. He was forced to resign over past political activities, including the fact that he is a Marxist.
Al Gore was one of the smaller partners to originally help fund the CHICAGO CLIMATE EXCHANGE. He also founded a company called Generation Investment Management (GIM) and registered it in London, England. GIM has close links to the UK-based Climate Exchange PLC, a holding company listed on the London Stock Exchange. This company trades Carbon Credits in Europe (just like CXX will do here) and its floor is run by Goldman Sachs. Along with Gore, the other co-founder of GIM is Hank Paulson, the former US Treasury Secretary and former CEO of Goldman Sachs. His wife, Wendy, graduated from and is presently a Trustee of Wellesley College. Yes, the same college that Hillary Clinton and Jan Piercy, a co-founder of Shorebank attended. (They are all friends).
Interesting? And now the closing...
Because many studies have been exposed as scientific nonsense, people are slowly realizing that man-made global warming is nothing more than a money-generating hoax. As a result, Obama is working feverishly to win the race. He aims to push a Cap-and-Trade Carbon Tax Bill through Congress and into law.
Obama knows he must get this passed before he loses his majority in Congress in the November elections. Apart from Climate Change he will “sell” this bill to the public as generating tax revenue to reduce our debt. But, it will also make it impossible for US companies to compete in world markets and drastically increase unemployment. In addition, energy prices (home utility rates) will sky rocket.
But, here’s the KICKER (THE MONEY TRAIL).
If the bill passes, it is estimated that over 10 TRILLION dollars each year will be traded on the CXX exchange. At a commission rate of only 4 percent, the exchange would earn close to 400 billion dollars to split between its owners, all Obama cronies. At a 2 percent rate, Goldman Sachs would also rake in 200 billion dollars each year.
But don’t forget SHOREBANK. With 10 trillion dollars flowing though its accounts, the bank will earn close to 40 billion dollars in interest each year for its owners (more Obama cronies), without even breaking a sweat.
It is estimated Al Gore alone will probably rake in 15 billion dollars just in the first year. Of course, Obama’s “commissions” will be held in trust for him at the Joyce Foundation. They are estimated to be over 8 billion dollars by the time he leaves office in 2013, if the bill passes this year. Of course, these commissions will continue to be paid for the rest of his life.
Some financial experts think this will be the largest “scam” or “legal heist” in world history. Obama’s cronies make the Mafia look like rank amateurs. They will make Bernie Madoff’s fraud look like penny ante stuff.
Politically Connected Shorebank Rescued by
John on May 18, 2010
Shorebank Fails but is Reborn with Help from Financial Titans
John on August 20, 2010
Bottomline - microfinancing has been a failure for a long time...yet they continue to get funding...
Building communes in Cleveland...
The leftie banks aren’t working anyway and would fall if we didn’t fund them. But that doesn’t matter to the marxists just shutup and give them the money which is what it amounts to...
When did all this start as i recall one of the dunhams—zeros relatives was involved in micro finance in the third world
Great posts, insight, thanks so much.
...an alarming picture of the 21st century community. The American ways-free speech, individualism, travel, and Christianity-are out. A new set of economic, environmental, and social guidelines are in. Citizenship, democracy, and education have been redefined. Handpicked civil leaders will implement UN "laws", bypassing state and national representatives to work directly with the UN.
Not just no, but [unladylike word]ING HELL NO!
Bangladesh minister says Yunus must quit Grameen bank
Feb 16th, 2011
DHAKA (Reuters) Bangladeshs finance minister on Wednesday said Nobel laureate Muhammad Yunus should stand down from his role in microlender Grameen Bank following alleged irregularities in its operations.
Minister Abul Maal Abdul Muhith called Yunus a man of high standing and respect, but said: He is now old and we need to redefine the banks role and bring it under closer regulation.
Yunus, 70, who tried to set up his own political party in 2007, did not respond directly to the finance ministers comments.
When time will come, any transition will essentially require a friendly environment and support from the inside and outside stakeholders of the bank to ensure that we continue to be totally committed to our mission for and with the poor, he told Reuters.
A Norwegian television documentary last year said Grameen, led by 2006 Nobel Peace Prize winner Yunus, had for tax purposes SHIFTED FUNDS provided by Norways aid agency in the 1990s from one legal entity to another.
The documentary sparked criticism in Bangladesh and abroad of Yunus, whose bank has provided some $10 billion in small loans to individuals, mainly women, to fund businesses and help them escape poverty.
Later, the Norwegian government said an investigation into the allegations against Grameen had found no evidence of misuse of the funds or corrupt practices.
The allegations came at a time when microlending faced political hostility in several developing countries including India, where politicians have accused the bankers of profiteering from the poor.
In January, Bangladeshi Prime Minister Sheikh Hasina accused Yunus of resorting to a trick to avoid paying taxes.
The government has set up a review committee with very specific terms of reference and will await their recommendations due in three months in taking any action, if need be, in respect of the Grameen Bank, said Muhith.
Friends and admirers have launched a campaign to support Yunus and the microlender, in which the Bangladesh government has a 25 percent stake.
While the campaign of misinformation against Professor Yunus and Grameen Bank continues with increasingly aggressive attacks, support in favour of the Nobel Peace Prize laureates is also getting organised, the Paris-based Friends of Grameen said in a statement issued on Tuesday.
Chairperson of the group Mary Robinson, former President of Ireland and former United Nations High Commissioner for Human Rights, said:
The members of Friends of Grameen are all deeply concerned by the continued attacks against Professor Yunus and Grameen Bank, that are politically orchestrated.
There’s something going on with this bank and, imo, most of the other micro-banks. It’s been shown that it doesn’t work - all it does it put people in an even deeper bind as the interest rates are too high and they never get the debt paid. It’s obvious that the “elders” were selected and placed to protect them.
...Nobel laureate Muhammad Yunus..., 70, who tried to set up his own political party in 2007, did not respond directly to the finance minister's comments... A Norwegian television documentary last year said Grameen, led by 2006 Nobel Peace Prize winner Yunus, had for tax purposes SHIFTED FUNDS provided by Norway's aid agency in the 1990s from one legal entity to another. The documentary sparked criticism in Bangladesh and abroad of Yunus, whose bank has provided some $10 billion in small loans to individuals, mainly women, to fund businesses and help them escape poverty... The allegations came at a time when microlending faced political hostility in several developing countries including India, where politicians have accused the bankers of profiteering from the poor. In January, Bangladeshi Prime Minister Sheikh Hasina accused Yunus of resorting to a "trick" to avoid paying taxes.Another Nobel Peace Prize winner involved in a scam? What were the *odds*?!?
Does all this go back to zeros mother who used to do micro loans as well?
Hey sunkenciv - they get their rewards. It would be interesting to do a track back to see what the winners personal philosphy and values are...
His mother had a Phd in Anthropology and his grandmother worked as a VP in a bank in HI. I think this sharia micro- stuff came from her and the dtr was a saleswoman. I think it’s why they groomed the son.
The UN Conference on Human Settlements (Habitat II) which met June 3-14 in Istanbul, painted an alarming picture of the 21st century community. The American ways-free speech, individualism, travel, and Christianity-are out. A new set of economic, environmental, and social guidelines are in. Citizenship, democracy, and education have been redefined. Handpicked civil leaders will implement UN "laws", bypassing state and national representatives to work directly with the UN. And politically correct "tolerance"-meaning "the rejection of dogmatism and absolutism" as well as "appreciation" for the world's religions and lifestyles-is "not only a moral duty, it is also a political and legal requirement."
Wasn’t Shorebank renamed Urban Partnership Bank [UPB]?
Hey, I had forgotten about this thread. :)
Yes, I linked to it a few posts up...tried it just now but it’s no longer working, sorry. The titan banks took it over but not before they got (jimmy carters) community reinvestment deal along with tens of millions of our money - they also took over many others in the same way. The poor people in the district got paper bonds or something equally useless. I see there’s a few threads posted today about the titans, obama, and fraud. I think Obama aims to have just a couple of national banks, a couple of huge farms, a couple of hospitals, etc., easier to control. A reason they want Catholic hospitals out of the way and what better than to make them cover abortions. They’ve already gotten the education of our kids intact with the dept of education, land...EPA and so on...
What do you think? Sorry for the rush but gotta get some rest.
Here’s an older thread on the bank...
And Urban Partnership Bank became FDIC insured exactly one day before the failure of ShoreBank. Search...FDIC.GOV
Have you read them?
Freeper Picnic September 15-16, 2012
Shemitta is effectively a Biblical counter-strategy to the risks of urban siege. I’m going to put the text online for free next year. Unfortunately, the picture books are licensed only for sale and I’ll have to renegotiate permission to use the photographs online.
Requesting FReeper's Assessment of the ideas and writings of Mark Vande Pol - FReeper Carry_Okie:
SHEMITTA - For The Land Is Mine
The Ultimate in Limited Self-Government
- by Mark Vande Pol
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