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THE MOST CORRUPT MEMBERS OF CONGRESS: “UNFINISHED BUSINESS” | CREW's Most Corrupt Members of Congress
Wednesday, October 13, 2010
Monday, October 11, 2010
How Hank Paulson’s inaction helped Goldman Sachs
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By Greg Gordon | McClatchy Newspapers
WASHINGTON — Henry Paulson has received widespread acclaim for his bare-knuckled decision-making as the treasury secretary at the peak of the 2008 financial crisis, but former federal regulators say he missed multiple chances to contain the disaster.
Among the prime beneficiaries of Paulson's inaction in 2006 and 2007 was Goldman Sachs, the investment banking behemoth he ran before he was named to former President George W. Bush's Cabinet.
Paulson's failure to take steps to curb risky mortgage lending also enabled top executives of other Wall Street firms to continue cashing big bonus checks, while less privileged Americans lost their jobs, their homes and their retirement savings in the worst economic catastrophe since the Great Depression.
Paulson and Federal Reserve Chairman Ben Bernanke have been widely praised for engineering the Wall Street bailouts, which avoided systemic chaos, and they'll probably get more plaudits if the government recovers much of the $400 billion in loans it made to financial institutions.
However, while Paulson has been criticized, unfairly or not, because $12.9 billion of the bailout money went to Goldman, he's drawn little scrutiny for what he did in his first 18 months in office, during the final frenzied stages of the housing bubble.
* "No one was better positioned . . . than Mr. Paulson to understand exactly what the implications of his moving against the (housing) bubble would have been for Goldman Sachs, because he knew what the Goldman Sachs positions were," said William Black, a former senior thrift regulator who delivered the harshest criticism of the former secretary.
Paulson "knew that if he acted the way he should, that would have burst the bubble. Then Goldman Sachs would have been left with a very substantial loss, and that would have been the end of bonuses at Goldman Sachs."
Con't..
*******
*Gee..It's about time these guys caught up..
Better late then never..
By Greg Gordon | McClatchy Newspapers
WASHINGTON — Henry Paulson has received widespread acclaim for his bare-knuckled decision-making as the treasury secretary at the peak of the 2008 financial crisis, but former federal regulators say he missed multiple chances to contain the disaster.
Among the prime beneficiaries of Paulson's inaction in 2006 and 2007 was Goldman Sachs, the investment banking behemoth he ran before he was named to former President George W. Bush's Cabinet.
Paulson's failure to take steps to curb risky mortgage lending also enabled top executives of other Wall Street firms to continue cashing big bonus checks, while less privileged Americans lost their jobs, their homes and their retirement savings in the worst economic catastrophe since the Great Depression.
Paulson and Federal Reserve Chairman Ben Bernanke have been widely praised for engineering the Wall Street bailouts, which avoided systemic chaos, and they'll probably get more plaudits if the government recovers much of the $400 billion in loans it made to financial institutions.
However, while Paulson has been criticized, unfairly or not, because $12.9 billion of the bailout money went to Goldman, he's drawn little scrutiny for what he did in his first 18 months in office, during the final frenzied stages of the housing bubble.
* "No one was better positioned . . . than Mr. Paulson to understand exactly what the implications of his moving against the (housing) bubble would have been for Goldman Sachs, because he knew what the Goldman Sachs positions were," said William Black, a former senior thrift regulator who delivered the harshest criticism of the former secretary.
Paulson "knew that if he acted the way he should, that would have burst the bubble. Then Goldman Sachs would have been left with a very substantial loss, and that would have been the end of bonuses at Goldman Sachs."
Con't..
*******
*Gee..It's about time these guys caught up..
Better late then never..
Tuesday, October 5, 2010
Monday, October 4, 2010
Racial Predatory Loans `Fueled U.S. Housing Crisis: Study
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Duh !
You might want to show this Study to the GOP & the M$M/Corporate Media !
*******
By Nick Carey Nick Carey – Mon Oct 4,
CHICAGO (Reuters) – Predatory lending aimed at racially segregated minority neighborhoods led to mass foreclosures that fueled the U.S. housing crisis, according to a new study published in the American Sociological Review.
Predatory lending typically refers to loans that carry unreasonable fees, interest rates and payment requirements.
Poorer minority areas became a focus of these practices in the 1990s with the growth of mortgage-backed securities, which enabled lenders to pool low- and high-risk loans to sell on the secondary market, Professor Douglas Massey of the Woodrow Wilson School of Public and International Affairs at Princeton University and PhD candidate Jacob Rugh, said in their study.
The financial institutions likely to be found in minority areas tended to be predatory -- pawn shops, payday lenders and check cashing services that "charge high fees and usurious rates of interest," they said in the study.
"By definition, segregation creates minority dominant neighborhoods, which, given the legacy of redlining and institutional discrimination, continue to be underserved by mainstream financial institutions," the study says.
Redlining is the practice of denying or increasing the cost of services, such as banking and insurance, to residents in specific areas, often based on race.
The U.S. economy is still struggling with the effects of its longest recession since the 1930s, which was triggered in large part by the housing crisis, which was in part triggered by the crash of the subprime loan market.
Con't..
Duh !
You might want to show this Study to the GOP & the M$M/Corporate Media !
*******
By Nick Carey Nick Carey – Mon Oct 4,
CHICAGO (Reuters) – Predatory lending aimed at racially segregated minority neighborhoods led to mass foreclosures that fueled the U.S. housing crisis, according to a new study published in the American Sociological Review.
Predatory lending typically refers to loans that carry unreasonable fees, interest rates and payment requirements.
Poorer minority areas became a focus of these practices in the 1990s with the growth of mortgage-backed securities, which enabled lenders to pool low- and high-risk loans to sell on the secondary market, Professor Douglas Massey of the Woodrow Wilson School of Public and International Affairs at Princeton University and PhD candidate Jacob Rugh, said in their study.
The financial institutions likely to be found in minority areas tended to be predatory -- pawn shops, payday lenders and check cashing services that "charge high fees and usurious rates of interest," they said in the study.
"By definition, segregation creates minority dominant neighborhoods, which, given the legacy of redlining and institutional discrimination, continue to be underserved by mainstream financial institutions," the study says.
Redlining is the practice of denying or increasing the cost of services, such as banking and insurance, to residents in specific areas, often based on race.
The U.S. economy is still struggling with the effects of its longest recession since the 1930s, which was triggered in large part by the housing crisis, which was in part triggered by the crash of the subprime loan market.
Con't..
Sunday, October 3, 2010
Feds Sue Fox News Over Reporter Catherine Herridge's Charges Of Discrimination, Retaliation
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By SAM HANANEL
WASHINGTON — Federal authorities are suing the Fox News Network for allegedly retaliating against a reporter after she complained about unequal pay and job conditions based on her gender and age.
The Equal Employment Opportunity Commission says Fox News Channel reporter Catherine Herridge filed an internal complaint about allegedly discriminatory practices in 2007.
Con't..
*Thanks,ToniD..
`
By SAM HANANEL
WASHINGTON — Federal authorities are suing the Fox News Network for allegedly retaliating against a reporter after she complained about unequal pay and job conditions based on her gender and age.
The Equal Employment Opportunity Commission says Fox News Channel reporter Catherine Herridge filed an internal complaint about allegedly discriminatory practices in 2007.
Con't..
*Thanks,ToniD..
`
Wednesday, September 22, 2010
Christine O'Donnell Witchcraft Comment from 1999 Bill Maher Show Surfaces
O'Donnell makes light of witchcraft comment
By RANDALL CHASE Associated Press Writer
LINCOLN, Del - WATCH THE VIDEO FROM REAL TIME WITH BILL MAHER HERE.
Republican Senate candidate Christine O'Donnell is making light of comments she made more than a decade ago about having dabbled in witchcraft when she was in high school.
"How many of you didn't hang out with questionable folks in high school?" she asked fellow Republicans at a GOP picnic in southern Delaware on Sunday.
"There's been no witchcraft since. If there was, Karl Rove would be a supporter now," O'Donnell jokingly assured the crowd.
Rove, the former GOP strategist and adviser to President George W. Bush, has suggested that O'Donnell's win in last week's GOP primary cost Republicans a chance to retake the Senate seat long held by Democrat Joe Biden before he was elected vice president.
O'Donnell, a conservative Christian activist, rode a surging tide of tea party activism to an upset victory over GOP moderate Michael Castle, Delaware's longtime congressman and former two-term governor. She faces Democratic county executive Chris Coons in November.
O'Donnell's comments about witchcraft were made during a 1999 taping of comedian Bill Maher's "Politically Incorrect" show.
"I dabbled into witchcraft. I never joined a coven," she said on the show, a clip of which hit the Internet as O'Donnell canceled Sunday appearances on two national news shows, citing commitments to attend church and the GOP picnic in Delaware.
"I hung around people who were doing these things. I'm not making this stuff up. I know what they told me they do," O'Donnell told Maher.
"One of my first dates with a witch was on a satanic altar, and I didn't know it. I mean, there's little blood there and stuff like that," she said. "We went to a movie and then had a little midnight picnic on a satanic altar."
Con't..
http://www.myfoxdc.com/dpp/news/offbeat/christine-odonnell-witchcraft-comment-from-1999-bill-maher-show-surfaces-092110
By RANDALL CHASE Associated Press Writer
LINCOLN, Del - WATCH THE VIDEO FROM REAL TIME WITH BILL MAHER HERE.
Republican Senate candidate Christine O'Donnell is making light of comments she made more than a decade ago about having dabbled in witchcraft when she was in high school.
"How many of you didn't hang out with questionable folks in high school?" she asked fellow Republicans at a GOP picnic in southern Delaware on Sunday.
"There's been no witchcraft since. If there was, Karl Rove would be a supporter now," O'Donnell jokingly assured the crowd.
Rove, the former GOP strategist and adviser to President George W. Bush, has suggested that O'Donnell's win in last week's GOP primary cost Republicans a chance to retake the Senate seat long held by Democrat Joe Biden before he was elected vice president.
O'Donnell, a conservative Christian activist, rode a surging tide of tea party activism to an upset victory over GOP moderate Michael Castle, Delaware's longtime congressman and former two-term governor. She faces Democratic county executive Chris Coons in November.
O'Donnell's comments about witchcraft were made during a 1999 taping of comedian Bill Maher's "Politically Incorrect" show.
"I dabbled into witchcraft. I never joined a coven," she said on the show, a clip of which hit the Internet as O'Donnell canceled Sunday appearances on two national news shows, citing commitments to attend church and the GOP picnic in Delaware.
"I hung around people who were doing these things. I'm not making this stuff up. I know what they told me they do," O'Donnell told Maher.
"One of my first dates with a witch was on a satanic altar, and I didn't know it. I mean, there's little blood there and stuff like that," she said. "We went to a movie and then had a little midnight picnic on a satanic altar."
Con't..
http://www.myfoxdc.com/dpp/news/offbeat/christine-odonnell-witchcraft-comment-from-1999-bill-maher-show-surfaces-092110
Wednesday, September 15, 2010
Friday, September 10, 2010
Fight Washington Corruption ! !
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1. Overturn Citizens United
2. Fair Elections Now
3. Lobbyist Reform Act
•Read about the campaign in The Nation
About The Campaign - Frequently Asked Questions
1. Overturn Citizens United
2. Fair Elections Now
3. Lobbyist Reform Act
•Read about the campaign in The Nation
About The Campaign - Frequently Asked Questions
Monday, September 6, 2010
Hmm..Do you remember "The Culture Of Corruption" ?
Well,it's Still Flourishing Within The GOP !
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Thanks to You want the Republicans back in charge? Are you f-ing kidding me???
For the pic..
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Thanks to You want the Republicans back in charge? Are you f-ing kidding me???
For the pic..
Monday, August 23, 2010
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May good and faithful friends be yours,
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May peace and plenty bless your world
with joy that long endures.
May all life's passing seasons
bring the best to you and yours !
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