Skip to comments.Obama coddles bankers
Posted on 02/07/2010 9:43:40 PM PST by FromLori
In his State of the Union address, President Barack Obama said: "We face a deficit of trust -- deep and corrosive doubts about how Washington works that have been growing for years. To close that credibility gap, we have to take action on both ends of Pennsylvania Avenue -- to end the outsized influence of lobbyists; to do our work openly; to give the people the government they deserve."
The day after the president uttered those words, a senior Democrat offered private policy briefings to lobbyists on the administration's plans.
"In the upcoming elections, voters will face a choice between Republicans who are standing with Wall Street fat cats, bankers and insurance companies -- or Democrats who are working hard to clean up the mess we inherited by putting the people's interest ahead of the special interests," Sen. Robert Menendez, D-N.J., the head of the Democratic Senatorial Campaign Committee, said in a press release Jan. 27.
That weekend Mr. Menendez and 11 other Democratic senators hosted a "winter retreat" at the Ritz Carlton South Beach resort in Miami for 108 prominent lobbyists, who paid up to $30,000 each to attend.
"The retreat's guest list is a marked contrast to Menendez's recent rhetoric, which has echoed the White House denunciation of 'special interests' and 'fat cats,' " noted Ben Smith of the Politico, who broke the story.
(Excerpt) Read more at post-gazette.com ...
Zer0, TG and Bernake are loosers.
Pig paulson too!
Banks were going down like flies, Mr Paulson told the FT. As his book details, he was scrambling to secure Tarp bail-out funds from Congress.
The timing could not have been worse since we were months or weeks from the election so you had the collision of markets and politics.
Although a Republican, Mr Paulson found it harder to deal with John McCain than Barack Obama raising the interestin
Paulson early in the book also reminds us just how tight the inner circle is. He tells us that one of the last Goldman Sachs conferences that he was involved with before leaving for Treasury took place in Chicago where the guest speakers were Warren Buffett and then-Senator Barack Obama.
As for the crisis, itself, he’s sticking to the story that he saved the country.
W and Andrea Mitchell’s hubby too.
greenspan says he is blameless lolol
Don’t forget all the CongressCritters.
Oh I won’t I think about how they sold my grandchildren into slavery.
The Obama Democrats: By the Numbers
$34,000: the amount of federal taxes Secretary of the Treasury Timothy Geithner (D) failed to pay during his employment at the International Monetary Fund despite receiving extra compensation and explanatory brochures that described his tax liabilities.
$75,000: the amount of money that the head of the powerful tax-writing committee, Rep. Charlie Rangel (D-NY), was forced to report on his taxes after the discovery that he had not reported income from a Costa Rican rental property. His excuses for the failure started with blaming his wife, then his accountant and finally the fact that he didn’t speak Spanish.
$93,000: the amount of petty cash each Congressional representative voted to give themselves in January 2009 during the height of an economic meltdown..
$133,900: the amount Fannie Mae “invested” in Chris Dodd (D-CT), head of the powerful Senate Banking Committee, presumably to repel oversight of the GSE prior to its meltdown. Said meltdown helped touch off the current economic crisis. In only a few years time, Fannie also “invested” over $105,000 in then-Senator Barack Obama.
$140,000: the amount of back taxes and interest that Cabinet nominee Tom Daschle (D-SD) was forced to cough up after the vetting process revealed significant, unexplained tax liabilities.
$356,000: the approximate amount of income and deductions that Daschle (D-SD) was forced to report on his amended 2005 and 2007 tax returns after being caught cheating on his taxes. This includes $255,256 for the use of a car service, $83,333 in unreported income, and $14,963 in charitable contributions.
$800,000: the amount of “sweetheart” mortgages Senate Banking Chairman Chris Dodd (D-CT) received from Countrywide Financial, the details for which he has refused to release despite months of promises to do so. Countrywide was once the nation’s largest mortgage lender and linked to Government-Sponsored Entities like Fannie Mae and Freddie Mac. Their meltdown precipitated the current financial crisis. Just days ago in Pennsylvania, Countrywide was forced to pay $150,000,000 in mortgage assistance following “a state investigation that concluded that Countrywide relaxed its underwriting standards to sell risky loans to consumers who did not understand them and could not afford them.”
$12,000,000: the amount of TARP money provided to community bank OneUnited despite the fact that it did not qualify for funds, and was “under attack from its regulators for allegations of poor lending practices and executive-pay abuses.” It turns out that Rep. Maxine Waters (D-CA), a key contributor to the Fannie Mae meltdown, just happens to be married to one of the bank’s ex-directors.
$23,500,000: The upper range of net worth Rep. Allan Mollohan (D-WV) accumulated in four years time according to The Washington Post through earmarks of “tens of millions of dollars to groups associated with his own business partners.”
$2,000,000,000: ($2 billion) the approximate amount of money that House Appropriations Chairman David Obey (D-WI) is earmarking related to his son’s lobbying efforts. Craig Obey is “a top lobbyist for the nonprofit group” that would receive a roughly $2 billion component of the “Stimulus” package.
$3,700,000,000: ($3.7 billion) not to be outdone, this is the estimated value of various defense contracts awarded to a company controlled by the husband of Rep. Diane Feinstein (D-CA). Despite an obvious conflict-of-interest as “a member of the Military Construction Appropriations subcommittee, Sen. Feinstein voted for appropriations worth billions to her husband’s firms .”
$4,190,000,000: ($4.19 billion) the amount of money in the so-called “Stimulus” package devoted to fraudulent voter registration ACORN group under the auspices of “Community Stabilization Activities”. ACORN is currently the subject of a RICO suit in Ohio.
It’s not just a culture of corruption. It’s a culture of corruption and stupidity. All of the aforementioned clowns are still in office, ruling like the royalty they’ve become.
Thank you I’m going to save that.
Just saved it. Thanks anglian.
Big government, big banks, and Wall Street are joined at the hip.
They need each other. In fact, big business (banks, Wall Street, GM, etc) came into existence as a result of big government.