Rahm Working With Fed To Beat Back Audit

The White House, Federal Reserve and Wall Street lobbyists are kicking up their opposition to an amendment to audit the Fed as a Senate vote approaches, Sen. Bernie Sanders (I-Vt.), the lead sponsor of the measure, said on Monday.

Banking Committee Chairman Chris Dodd (D-Conn.), who is shepherding the bill through the Senate, told Sanders Monday afternoon that "there's a shot we'll be up tomorrow," Sanders told HuffPost.

In the spring of 2009, Sanders brought a similar amendment to the Senate floor and won 59 votes. Eight senators who voted against it then are now cosponsors of his current measure.

"I think momentum is with us. But I've gotta tell you, that on this amendment, you're taking on all of Wall Street, you're taking on the Fed, obviously, and unfortunately you seem to be taking on the White House, as well. And that's a tough group to beat," said Sanders.

http://www.huffingtonpost.com/2010/05/03/rahm-working-with-fed-to_n_561505.html

Un-fucking-believable! Is there some point where this government 'of the people, by the people, and for the people,' decides the people might get to know what's being done with their money? I'd like to say I'm surprised but, sadly, I'm not.

Rham is a corporate tool, but our corporate tool..

I'm so tired of the House sending decent (and sometimes good) legislation to the Senate to be murdered.

Can you believe this shit?

and now 8 more Republicans have jumped on board. What better way to show you are working in a bi-partisan way than to get behind an amendment with this kind of support from Senators from both parties? WTF are they hiding? The more they work to protect this information, the more sinister it looks.

This is from the report which shows the Fed intentionally covered up the housing bubble, starting as far back as 2004:

"We run the risk, by laying out the pros and cons of a particular argument, of inducing people to join in on the debate, and in this regard it is possible to lose control of a process that only we fully understand."

This is how the lowlifes that control our monetary policy think. This is not how a democracy is supposed to function. Ed Harrison is right, we are a banana republic, without the bananas.

Bernie is what the Dems should be..

Not Bernie.

forgot to repost up here..

peace and low stress..

No, its all too believable.

He always supports big money like the good little ex- Wall Streeter/DLC'er he is.

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:banghead:

I would guess it is a test balloon.

"I think momentum is with us. But I've gotta tell you, that on this amendment, you're taking on all of Wall Street, you're taking on the Fed, obviously, and unfortunately you seem to be taking on the White House, as well. And that's a tough group to beat," said Sanders.


Can't guess how it will end, but if that be the case, and it is for what is correct, then it is the fight to fight, with love and kindness though. Not because it can be won, all the fights seem impossible, but the point is if it should be won it will, and from my view it should be fought.

Unless they can give an argument why they should not, and that argument would be that they are afraid of people knowing whats been going on.

I don't think the Fed has a right to secrecy after Billions, if not Trillions went just missing, fix the system and open the shades.

Although I would hope it would not be a fight against the White House, Besides there have been good things posted by Greenspan, also, so it seems like they are thinking about things more. But really, what limitations to the corporations have happened. I know there is legislation, but it has to be effective.

Well that, and the criminal behaviour can not just continue as a two tier system.





Edit: Didn't Greenspan write an article on thoughts about trade and production? I think they are turning around.

Send your email!

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x533730

Can't hurt to let them know I expect them to hold that line.

:thumbsup:

for the benefit of the people, it's the multi-national corporations and bankers. Don't ever believe for a moment that the Ds and Rs are there to implement the will of the people.....they are there implement the will of the elites.

"Obama’s Chief of Staff, Rahm Emanuel, collected $18 million working less than three years at Wall Street outfit Wasserstein-Perella. I don’t think, after googling the firm, that anyone has adequately explained just what Wasserstein-Perella is. (I was writing about this stuff back in the late 1980s, so I know.) Bruce Wasserstein was one of the top leveraged buyout bandits of the 1980s, when America’s industrial companies were literally asset stripped and ripped apart. The amount of human misery Bruce Wasserstein caused with his "financial engineering" in former industrial towns from Akron to Zanesville is simply beyond imagination, but not exaggeration. After making a few billion ripping apart our country’s industrial base and looting pension funds, Wasserstein became head of Lazard Freres, the secretive but extremely powerful international private banking firm....."

snip

plus further evidence supporting Taibbi's claims:

<http://www.dailykos.com/storyonly/2009/12/11/813139/-Ta... ;-I-add-some-history->

banks w/o congressional oversight or approval

It is built solely on fraud and deception. Years of no regulatory enforcement using what little law is left and the rot is through and through. This administration has no intention of doing anything other than maintaining the status quo. They are the status quo.


"Last year, America’s leading banks were insolvent. They had tens or hundreds of billions in losses on their books, and the only way to wipe those losses out would be to either a) own up to the mess, raise enormous amounts of money on top of all the bailout money; or b) get out a big fat eraser, and wipe those losses off the books as if they never existed.

The first option was nice and all, but a real hassle. So Tim Geithner and Larry Summers chose Door Number Two: Accounting Fraud. They forced the FASB to accept a rule-change in the accounting methodology called “mark-to-model” which let banks decide how much their assets were worth, rather than letting the markets decide.

snip

...Right now Wall Street has a $27 billion bet against the California bonds the banks helped to sell – and you better believe Wall Street will use every trick in the book to push California into bankruptcy and make those CDS bets pay off big.

In fact just last year, the big banks made $1 billion in fees by selling off Obama-stimulus-backed Build America Bonds which were basically a way of massively overpaying bankrupt banks to lined up bankrupt cities and states with skittish investors to fund corrupt projects – like the San Francisco Bay Bridge modernization, which went from $1.8 billion to $13.6 billion, $8 billion just in interest.

Good news is that Wall Street is making tons of money, which is always something to cheer – and of course, the bill is all being charged to regular car-driving suckers, who pay a $5 toll today to cross the bridge, up from $2 in 2003."

http://www.consortiumnews.com/2010/050310b.html


There are hundreds of stories just like this everywhere. Taibbi reported on jp morgan squeezing a community of hard working americans dry and paying goldman sachs for the privilege.

http://www.alternet.org/economy/146424/matt_taibbi:_how_wall_street_made_a_fortune_off_alabama_sewers


I'd love to see them really dig into it but they won't. They are all going to want to maintain their lavish lifestyles and access to power after their gigs in washington are up and those jobs are in finance, health care and defense. We lose.

.

If you vote for these amendments, you're for the people. If you vote against them, you're for the Banks.
People will remember."

I know I will.

YouTube:

http://www.youtube.com/watch?v=4cmJxW3q2go

I really dig him.

fool around.

My gut feeling is that there is much to hide, and opening up the Fed will be opening up a big can of worms.

I'm actually afraid to find out what they'll find - that after decades of abuse, we will find that what we think we are is all just an illusion.

Is it about misinformation, control, power and riches for a few? Every now and then an event that changes momentum occurs that could unravel the illusion that we have government for the people, and that scares the hell out of the real owners of America, as George Carlin calls them. In this case the pillaging of America was readily visible through the bailouts, but invisible through the actions of the Federal Reserve. These bastards will pull every puppet string they can pull to keep misinformation flowing and the truth hidden from the public. In the end few Ds or Rs will aggressively protect the people's interests and cut the strings of the puppeteers.

George Carlin nailed it with his performance on "The real owners of America" and the irrelevant politicians. When he was alive his video clips appeared all over the internet. Now that he is dead they are all removed as copyrighted. Perhaps his humor was becoming a real threat to them as he died unexpectedly.

Here is an excerpt of George Carlin and what could be the most profound statement since the Bill of Rights:

"The real owners are the big wealthy business interests that control things and make all the important decisions. Forget the politicians, they're an irrelevancy. The politicians are put there to give you the idea that you have freedom of choice. You don't. You have no choice. You have owners. They own you.} They own everything. They own all the important land. They own and control the corporations. They've long since bought and paid for the Senate, the Congress, the statehouses, the city halls. They've got the judges in their back pockets. And they own all the big media companies, so that they control just about all of the news and information you hear. They've got you by the balls. They spend billions of dollars every year lobbying, lobbying to get what they want. Well, we know what they want; they want more for themselves and less for everybody else."

"But I'll tell you what they don't want. They don't want a population of citizens capable of critical thinking. They don't want well-informed, well-educated people capable of critical thinking. They're not interested in that. That doesn't help them. That's against their interests. They don't want people who are smart enough to sit around the kitchen table and figure out how badly they're getting fucked by a system that threw them overboard 30 fucking years ago.

"You know what they want? Obedient workers, people who are just smart enough to run the machines and do the paperwork but just dumb enough to passively accept all these increasingly shittier jobs with the lower pay, the longer hours, reduced benefits, the end of overtime and the vanishing pension that disappears the minute you go to collect it. And, now, they're coming for your Social Security. They want your fucking retirement money. They want it back, so they can give it to their criminal friends on Wall Street. And you know something? They'll get it. They'll get it all, sooner or later, because they own this fucking place. It's a big club, and you ain't in it. You and I are not in the club."

That seems very much like the "with us or against us" mentality that permeated the Bush Administration.

Things in this world are a lot more complicated than simply black and white.

To this by now openly conservative, pro-corporate, anti-labor, anti-environment administration.

WTF can we do about it?

All those that voted for this guy in the nomination took part in the continued betrayal of democracy. This man was a known quantity, I'm not at all surprised. It was so discouraging to get flamed by Obama supporters even here.

Maybe we deserve the screwing we're getting.:shrug:

the clean coal stuff, the Reagan stuff, etc.

I jumped on the bandwagon for the general election, and even voted for him in the PA primary because he was being attacked over the flag-pin thing (remember that stupidity?).

Now I have come to regret the support I gave him.

I feel more than a bit lost as to what to do about it, though.

but I never voted for Clinton, or Gore - as they supported NAFTA and GATT and the Telecommunications Act.

I'm unemployed -due mainly to our "Dems"- but I still donate early money to primary challengers running against DINOs.
It will all be moot as the Supreme Court handed unlimited funds to corporatist political campaigns.

Sadly, I'm finding out most people didn't like Bush just because of the way he talked. They have no clue about ideology. So kudos to Rahm for figuring this out, and trolling as far right as my politically vapid peers on the left will let him.

Watch Africa and Latin America and the federal budget.

He seems to be contracted out to big business to represent THEM.

Which gets us to why he was put there in first place.

Why?

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

We (Democrats) are supporting and advocating for global economic terrorism. Wall Street and The Fed are acting on behalf of the Chinese to cripple every economic force capable of resisting their power. They do not work for, or care in the least, about us.
:kick: & R

He was never on our side. It's Obama I still wonder about. At least he still puts his finger in the air, like Clinton used to. (Bill, not Hillary)

the fact that he is Chief of Staff does give one pause to wonder. Would the President hire someone for his right hand man if he didn't believe that mans's principles.

Rahm is Obama's consiglieri!

are nowhere to be seen on this thread.

Self-serving, elitist, rapacious, psychopath would all be redundant.

Which means that the President (or Obama's White House) depending on what term you want to use is working with the fed to beat back the audit.

But Rahm is an easy target because people are still bitter about the way he ran the DCCC.

the guy who told Cheney to STFU.

Huffpo:
<i>"On MSNBC's "Hardball" Wednesday night, Rep. Alan Grayson (D-Fla.) had a succinct response to Dick Cheney for the former vice president's recent comments on President Obama: STFU.

"On the Internet there's an acronym that's used to apply to situations like this: STFU. I don't think I can say that on the air, but I think you know what that means." "</i>

youtube video
http://www.youtube.com/watch?v=2QovIkXdv_s&feature=player_embedded

in youtube history-

Is Anyone Minding The Store at The Federal Reserve

http://www.youtube.com/watch?v=cJqM2tFOxLQ&feature=channel

2,170,922 views to date

Welcome aboard DU

:hi:

K&R

I don't think I can stand any more of this "Change You Can Believe In".

He's furiously trying to keep his negotiations as Fed president with AIG secret and is now under investigation by the Special Tarp Investigator, Neil Barofsky.

He is hiding something. Elizabeth Warren wants to know what it is also. Sanders probably knows this. Just recently Barofsky said he would not comment on whether or not 'Geithner is likely to be indicted'.

With Goldman facing investigations and prosecutions and lawsuits also, the WH has its hands full protecting the people who actually did get them elected, all those Goldman buddies who seem to be everywhere in our government.

I just don't get it.

and when it comes to protecting the interests of the ruling class, the D's and the R's all close ranks together.

who gives Rahm his marching orders? That's where the finger pointing should be...

Rahm is doing his bosses bidding or he would be fired.

K

http://thecaucus.blogs.nytimes.com/2010/05/07/white-house-deputy-counsel-resigns/

At some point, you can't just 'go along' with the get-along crowd.