"Could a media
system, controlled by a few global corporations with the ability to overwhelm all competing voices, be able to turn
lies into truth?" - George Orwell, 1984
Goldman Sachs reported quarterly earnings of $11.4 billion. They got $12.9 billion from AIG that was from the taxpayers that they don’t have to pay back to the taxpayers. So Goldman’s “profits” is no profit at all, but a $1.4 billion loose. And that’s not the only way they were able to show their false profits.
So Matt Taibbi is right; “this is not a free-market earnings but an almost pure state subsidy”. But nobody wants to hear that. Because the truth just wouldn’t support the objective — pointing to the bailout and saying ‘see, it worked’. The same way Henry Paulson lied to us that as soon as the banks got our money they would rescue the economy. As Tabbi said about the Goldman “profits”: This is the final evidence that the bailouts were a political decision to use the power of the state to redirect society’s resources upward, on a grand scale.
I reported here, here, and here that Goldman Sachs, as well as the other TARP recipients, couldn’t have paid back a single dime of the TARP money without the back door money Federal Reserve Chairman Ben Bernanke was handing out to them and the Federal Depositors Insurance Corporation was spotting them in guarantee’s for loans they got from other places. Matt Taibbi is just one of hundreds that is pointing out the same facts. He says “one of the most hilarious lies that has been spread about Goldman of late is that, since it repaid its TARP money, it’s now free and clear of any obligation to the government – as if that was the only handout Goldman got in the last year. Goldman last year made your average AFDC mom on food stamps look like an entrepreneur”.
Go to Taibbi’s article referenced above. He gives a very good account of how “Government Sachs” not only survived, but made their “profits”.
". . . . corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed." - Abraham Lincoln, 1864
Wells Fargo and a Foreclosure Suicide - ...things were fine until the bank claimed in 2009 that the couple missed a mortgage payment. The Rousseaus presented proof they had made the payment with a cashier’s check, but Wells Fargo insisted the money was still owed. This mistake set off a series of fees and problems that resulted in foreclosure proceedings. The couple fought the bank’s attempt to evict them from their house, even filing a lawsuit, but on Mother’s Day, a few days before being kicked out, Norman Rousseau reportedly gave up and shot himself.
Inhofe Staffer Asks Oil Lobbyist ‘Partners’ For ‘Better Coordination And Communication’ - “Moving forward, we --- your partners --- would kindly ask for better coordination and communication from you to prevent the Obama administration from pulling similar stunts in the future,” wrote Inhofe aide David Banks in the 800-word e-mail to two dozen lobbyists.
Matt Taibbi Can’t Believe Wall Street Donors Have Dried Up For Obama - The only reason banks backed Obama in 2008 is that they knew after the disastrous 8 years of Bush II there wasn't a snowball's chance in hell a Republican was going to win. But they're betting on Romney in 2012.
Issa’s monstrous witch hunt - Since taking over as chairman of the House Oversight and Government Reform Committee last year, Rep. Darrell Issa (R-Calif.) has been investigating President Obama’s administration with the tenacity of Captain Ahab in “Moby Dick.”
White House & Dems Back Banks over Protests: Newly Discovered Homeland Security Files Show Feds Central to Occupy Crackdown - A new trove of heavily redacted documents provided by the US Department of Homeland Security (DHS) in response to a Freedom of Information Act (FOIA) request filed by the Partnership for Civil Justice Fund (PCJF) on behalf of filmmaker Michael Moore and the National Lawyers Guild makes it increasingly evident that there was and is a nationally coordinated campaign to disrupt and crush the Occupy Movement.
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