Tag Archives: bailout

Not everybody in the USA is hurting (Repost)

American People — Get ready for heavy lifting and sacrifices “for the greater good.”

Meanwhile — some recent real estate transactions.  I’m glad to see the Wall Street bailout was successful.  See more at Luxist:

–Lehman’s former head of mortgage banking, Kurt A. Locher, recently spent $5.25 million on a West End Avenue apartment.

–Ex-AIG executive vice president Robert M. Sandler spent $3.45 million at the Hampshire House the day after the F.B.I. announced its investigation into his old firm’s collapse.

–Rosemary T. Berkery, the former vice chairman, general counsel and senior vice president at Merrill Lynch, has bought a $5.2 million apartment at 975 Park Avenue. She and her husband, attorney Robert Hausen, already have a co-op five floors down in the building.

–Jeff Zavattero, a Bear Stearns senior managing director recently sold his apartment at 530 East 76th St. for $4.2 million for his apartment.

–A former Lehman Brothers vice chairman Kunho Cho sold his One Beacon Court condo for $10 million. Mr. Cho and his wife, Tay, paid only $5.975 million when they bought the apartment in June 2005.

-Leo Tilman, Bear Stearns’ chief institutional strategist before starting up his own firm, has paid $3.5 million for a condo at Tribeca’s 101 Warren Street.

–50 Cent has dropped the price of his 19-bedroom, 51,000-square-foot Farmington, Connecticut mansion by $4 million. The home, Mike Tyson’s former home, was listed at $18.5 million when it was our estate of the day in 2007.

It’s hard out here…..:

Posted:  01.11.09  Repost:  03.07.09

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Filed under Barack Obama, crime, Financial Crisis, Human Interest, politics, President Elect Barack Obama, Uncategorized

Feds Rescue Citigroup on the Night Shift

“Some sweet sounds comin’ down” for Citigroup last night.

From New York Post:

The feds late last night announced an unprecedented plan to rescue Citigroup by taking a $20 billion stake in the desperately troubled bank and guaranteeing as much as $306 billion worth of its toxic assets.  Citigroup officials worked late into the night with a federal team led by Tim Geithner, the current president of the Federal Reserve Bank of New York.   

geithner 

Tim Geithner is expected to be appointed President elect Obama’s treasury secretary today.

Geithner is the architect of the global bailouts of the wrecked economies of several Asian and South American countries during the early 1990s.

When word was leaked Friday afternoon that he would head the Treasury Department in the Obama administration, stock markets zoomed, with the Dow Jones industrial average soaring nearly 500 points in the final hour of trading.

http://www.youtube.com/watch?v=xf6Hq3CW0o8&feature=related

http://www.nypost.com/seven/11242008/news/regionalnews/sinking_citi_gets_a_326b_lifeline_140525.htm?&page=0

Posted:  11.24.08

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Filed under Financial Crisis, life, politics, Uncategorized

Ron Paul: “It’s Wall Street Sticking It To Main Street”

Congressman Ron Paul on CNN recently:

He votes NO on bailout.  Hear his short speech on the House floor on September 29, 2008:

Could we get him to run for president?  Oh, that’s right.  He did run for president.  Maybe he will reconsider.

But, no, it was passed so now we await the consequences.  The way I understand it, the government will now buy toxic assets, or junk, from the lending institutions and then try to sort them out and see if there is anything in there that’s worth something.  Now exactly who is it that is going to do the purchasing, what person?  I don’t know.   And who exactly will receive the money?

But rest assured, everybody will get their share of the money and then more will be required.  There will likely be another federal department formed to manage all this, so right there people will skim off the top to be paid for that service or to run that service.

So any way you look at it, tax money is being used to, yes, bail out Wall Street.  And changing the term to a rescue doesn’t change a thing.  That is really putting lipstick on a pig for sure.  They are trying to cover their own mistakes in Congress and save the fat cats who are responsible for the fiasco from losing any money in the deal. So what will probably happen?  We will still have a recession or depression, only difference being the big money people will get theirs, as usual, and the rest will suffer through it.  It was reported that the “golden parachutes” won’t be allowed.  But, oh, that’s in the future and doesn’t apply now.

And to top it off, they had the nerve to add $150 billion in earmarks and pork.  According to all the experts, here we are facing devastation and ruin of the entire financial system, and they are adding stupid things like subsidies for rum in Samoa and wooden arrows for children.  The least they could have done is keep it down as much as possible.  And then they say, oh, well, that’s the way it’s done – the “crap sandwich,” as Lou Dobbs called it.

Here’s my question.  If the Bush administration had not come before the Congress with a plan and asked for this solution, what were those in charge of oversight going to do about it?  Just sit there and let the economy melt down?  Either that, or the whole thing is a scam.  Were they going to take another vacation?

The whole thing is a complete outrage.

Posted:  10.04.08

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Filed under politics, Uncategorized

Speak the Truth to Power, Sarah!

People in the media and otherwise have a lot of nerve and arrogance.  Just so much smugness and snobbery.  And Katie Couric and Charlie Gibson are at the top of my list.  Just who do they think they are anyway?

Lou Dobbs was interviewed by Imus this morning on Imus in the Morning and Mr. Dobbs said Sarah Palin should tell her handlers to go to hell, and tell John McCain, if necessary, to go to hell, and a few news anchors to go to hell and she would find that to be extremely liberating.  I couldn’t agree more.

Because we don’t want another lying, velvet-tongued politician to speak to us.  We’ve had plenty of that, especially during the all out scam that has been perpetrated on the American people with regard to this financial crisis.

Now, what would make anyone think we would believe a single solitary thing any of them said?  They are proven liars.  And when they say we absolutely need to do this bailout, I think probably not.  Probably trying to cover up something, make it easier on themselves.  It is for sure none of them have anything to brag about because if this country goes down the drain over this crisis, it will be directly caused by our very own government.  And I mean both parties.  And they have no shame whatsoever.  I really think there should be resignations, impeachments, grand juries, and/or all of the above.

I heard Representative Arthur Davis today take some responsibility for what has happened, and I’ll tell you I think, what a guy.  Someone who is man enough to keep from blaming everybody else before taking some responsibility himself.  He is one of the speakers on the video of players who were in the 2004 meeting, “Shocking Video…..” that I put up in another post.

Someone else said today that we have lived it up and partied for the past five years and now we have to suffer the hangover.  Well, that shows just how out of touch they are.  Because many Americans have not been greedy, have not overspent, have not over-borrowed, and that is one of the reasons why it is not going to sell.  We didn’t get to go to the party in the first place.

So, Sarah, you are my candidate, my hope for the future.  I want to hear some truth for a change so, you go, girl, and you give ’em hell tomorrow night!  We have your back.

Posted:  10.01.08

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Filed under John McCain, Media, politics, Uncategorized