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POPSWho's Really Behind the Rising Prices at the Pumps? This bipartisan cabal created a speculative mechanism that's presently sucking money out of your pocket with every gallon of gas you pump. Meanwhile, every dollar that Goldman, Morgan and the rest use to inflate oil prices is a dollar they are not investing in real economic activity that could create middle-class jobs. Of course, Wall Street culprits are trying to keep their involvement hush-hush. When a McClatchy newspaper reporter approached Goldman Sachs about it, the response was terse: "Goldman Sachs declines to comment for your story."
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POPSMonopoly Capitalism Is the Root of All of America's Problems The indoctrination is that we live in a market economy that determines globalization and everything else. I don’t know why this generation of Americans was more gullible. I can’t understand that. But it’s just a fact and we need to wake up. This systemic risk is a result of monopolists preaching efficiency because they want to take cash out of the system. For example, let’s say they have two machines, and sell one. They get money for the machine they sell, and then the one left over will be more expensive to use so they can charge more for its use. They pocket the money from the machine they sell and get more money off the one machine they have left. The problem, though, is they only have one machine left. If something goes wrong, we can have huge systemic failures. Treasury to dole out USD 3.8 billion more for GMAC
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POPSForgettable Things of 2009 There are more but these are the best ones. Read the entire article there may be others that you think are the most forgettable things of 2009
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POPSThere ought to be hell to pay. Yet another article outlining how the largest investment banks - particularly Goldman Sachs - manipulated the market for their own benefit. What really irks me more than anything is that after betting against the very products they were selling to their clients, they got a MASSIVE government bailout while some of their top competitors got wiped out. To say the game is rigged is the understatement of the year.
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POPS2010-The Year of the AWAKENING I’ve always been a fan of Mr. Rogers. His trip around the world on a Motorcycle is an experience in itself. What an adventure that must have been. As for Bernanke and Greenspan, Jim is so correct. Bernanke is just one of many from Goldman Sachs that now is part of the Obama the Joker administration. Bernanke is just helping out his fat cat friends the same that Obama claims to be opposed to. What a charade. I love Jim Rogers sense of humour , I usually follow all his interviews from this blog http://www.JimRogers.tk
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POPSMatt Taibbi: Obama Baited And Switched Us, And Let Wall Street Take Over The White House ROLLING STONE'S Matt Taibbi Exposes Obama's Wall Street's Inner Circle, Pays Particular Homage To Robert Rubin Matt Taibbi gives an in-depth presentation unmasking the Wall Street crony advisors that whisper in the President's ear daily, the political push-pull that ended up gifting Tim Geithner his current job, as well as an analysis of the brains behind it all- former Goldmanite, Robert Rubin. Matt Taibbi On "Colbert Report": Wall Street Is 'One Ponzi Scheme After Another' (VIDEO) http://bit.ly/7jYQou via Eric Weitner
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POPSAre Goldman Sachs Execs Arming Themselves Against the Public? Goldman Sachs Chief Executive Officer Lloyd Blankfein also reversed himself after having previously called Goldman’s greed “God’s work” and apologized earlier this month for having participated in things that were “clearly wrong.” Has it really come to this? Imagine what emotions must be billowing through the halls of Goldman Sachs to provoke the firm into an apology.Talk that Goldman bankers might have armed themselves in self-defense would sound ludicrous, were it not so apt a metaphor for the way that the most successful people on Wall Street have become a target for public rage. Comment on SC submitted by popetodd "I think they know something we don't just yet know. Like when it is all going to come apart at the seams."
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POPSGoldman Sachs Is Arming Themselves Against Angry Mobs. Guilty Conscience? While we wait, Goldman has wrapped itself in the flag of Warren Buffett, with whom it will jointly donate $500 million, part of an effort to burnish its image -- and gain new Goldman clients. Goldman Sachs Chief Executive Officer Lloyd Blankfein also reversed himself after having previously called Goldman’s greed “God’s work” and apologized earlier this month for having participated in things that were “clearly wrong.” Has it really come to this? Imagine what emotions must be billowing through the halls of Goldman Sachs to provoke the firm into an apology. Talk that Goldman bankers might have armed themselves in self-defense would sound ludicrous, were it not so apt a metaphor for the way that the most successful people on Wall Street have become a target for public rage.
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POPSSCAM: Goldman Sachs Wins Big Through "Bailout" Game And Timothy Geithner, the U.S. treasurer, is their Insider, controlling Congress through "must pass" legislation, while eliminating their largest competitor (Lehman which apparently was NOT "too big to fail") and cleaning out their largest creditor (AIG).....and all this financed on the backs of the American taxpayer or federal debt (which the Fed and Bernanke merely print money for). Meanwhile hundreds of small banks across the U.S. are being taken over....whose assets then go guess where.....right, to the large banks. But there is more. As mentioned in the video, it's written here too: Assistant U.S. Attorney Joseph Facciponti was quoted by Bloomberg as saying of the case: The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways. The obvious implication was that Goldman has a program that allows it to manipulate markets in unfair ways.
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POPSThe Scandal of Hunger in America
Tax dollars are wrongly spent on all level of government. For example, in Los Angeles, the lion share of the city budget is spent on the police department. State wide the amount of money spent on the prison system is astronomical. Instead of hiring more cops and incarcerating more people, it would be a wise and durable investment to invest in good and free public education. Federally, the waste of our tax dollars and resources is just as absurd. President Obama will try to justify his escalation of the war in Afghanistan. By sending more troops to Afghanistan, the astronomical defense budget will keep going up and is likely to reach 700 billion in 2010. 1 billion people suffer from chronic hunger. It is Thanksgiving, and while the executives of Goldman Sachs, which are getting ready to pay themselves 21 billion in bonuses, have too much to be thankful for, the 49 million Americans going hungry every day should be resentful of a system that has let them down.
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POPS Deutsche Bank's Countdown to The Carbon Bubble Deutsche Bank's ... JUNK SCIENCE AWARD ...THE RUBBER DUCKIE To banks and financial players now lobbying Washington, Ottawa and governments everywhere, the rolling carbon counter is a rolling dollar counter. At 1,000 tonnes a second, if each tonne could be hit with a $50 carbon tax or carbon trading fee, that’s $50,000 a second, which works out to $2-billion a month. The potential, obviously, is in the trillions of dollars " bigger, even, than the global sub-prime crash. Citigroup, Bank of America, Merrill Lynch and Goldman Sachs are all part of campaigns to push the Obama administration to adopt carbon trading. Read more: http://bit.ly/61hjeK
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POPSGeithner Says Credit-Default Swaps Weren't the Problem, After All.
But if Mr. Geithner now says the AIG bailout wasn't driven by a need to rescue CDS counterparties, then what was the point? Why pay Goldman and even foreign banks like Societe Generale billions of tax dollars to make them whole? Regulators say that having taxpayers buy out the counterparties improved AIG's liquidity position, but why was it important to keep AIG liquid if not to protect some class of creditors? Yesterday, Mr. Geithner introduced a new explanation, which is that AIG might not have been able to pay claims to its insurance policy holders: "AIG was providing a range of insurance products to households across the country. Yet, if there is one thing that all observers seemed to agree on last year, it was that AIG's money to pay policyholders was segregated and safe inside the regulated insurance subsidiaries. If the real systemic danger was the condition of these highly regulated subsidiaries"where there was no CDS trading"then the Beltway narrative implodes.
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POPSPortrait of a Sociopath The world’s most successful investment bank likes to hide behind the tidal wave of money that it generates and sends crashing over Manhattan, the City of London and most of the world’s other financial capitals. But now the dark knights of banking are being forced, blinking, into the cold light of day. The public, politicians and the press blame bankers’ reckless trading for the credit crunch and, as the most successful bank still standing, Goldman is their prime target. Here, politicians and commentators compete to denounce Goldman in ever more robust terms — "robber barons", "economic vandals", "vulture capitalists". Vince Cable, the Lib Dem Treasury spokesman, contrasts the bank’s recent record results — profits of $3.2 billion in the last quarter alone — and its planned bumper bonus payments with what has happened to ordinary people’s jobs and incomes in 2009.
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POPSGoldman Sachs Donates to Small Business For these guys it's just a PR move, but so waht, a few businesses will benefit. This could also set off a chain reaction among other Wall Street giants doing the Mea Culpa thing.
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POPSBank boss says 'we do God's work' Another example of religion being used to justify a position. I think it belittles religion and the religious. The misuse of religion gives an insight into the way they handle taking someone's last cents, before sending them to jail for not being rich. They would also believe that there is a special place in the afterlife for them and it is all good. They don't believe in suffering now to achieve glory in the next life (Mother Theresa and those types can have all of that - and a small donation - will suffice) The bonuses will be awarded to compensate workers for having to listen to people who seemed to have morals, over the last couple of years; and a reward for adjusting to honesty until the smoke cleared.
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POPSReport: 237 millionaires in Congress
Senators’ estimated median reportable worth sunk to about $1.79 million from $2.27 million in 2007. The House’s median income was significantly lower and also sank, bottoming out at $622,254 from $724,258 in 2007. But CRP’s analysis suggests that some lawmakers did well for themselves between 2007 and 2008, even as many Americans lost jobs and saw their savings and their home values plummet. Senate Minority Leader Mitch McConnell (R-Ky.) gained about $9.2 million. Sen. James Inhofe (R-Okla.) gained about $3 million, Sen. Daniel Inouye (D-Hawaii) had an estimated $2.6 million gain, and Richard Shelby (R-Ala.) gained about $2.8 million. Some lawmakers have profited from investments in companies that have received federal bailouts; dozens of lawmakers are invested in Wells Fargo, Citigroup, Goldman Sachs and Bank of America. Vice President Joe Biden has often tagged himself as an original blue collar man. The CRP backs him up, putting his net worth at just $27,000.
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POPSObama, Maurice Strong, Al Gore Key Players Cashing In.... continued the man who was to become President of the United States of America. If we follow the time line on where Obama was during the funding of the Chicago Climate Exchange, he was still a professor at the University of Chicago Law School teaching constitutional law, with his law license becoming inactive a year later in 2002. It may be interesting to note that the Chicago Climate Exchange in spite of its hype, is a veritable rat’s nest of cronyism. The largest shareholder in the Exchange is Goldman Sachs. Chicago Mayor Richard M. Daley is its honorary chairman, The Joyce Foundation, which funded the Exchange also funded money for John Ayers’ Chicago School Initiatives. John is the brother of William Ayers. What a flap when it was discovered that the senator from Chicago had nursed on Saul Alinsky’s milk, had his political career launched at a coffee party held by domestic terrorist Bill Ayers, and sat for 20 years, uncomplaining in front of the
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POPSGoldman Sucks’ new role: Taking Your Homes The couple alleges that Goldman declined for three years to confirm their suspicions that it had bought their mortgages from a subprime lender, even after they wrote to Goldman’s then-Chief Executive Henry Paulson — later U.S. Treasury secretary — in 2003. Unable to identify a lender, the couple could neither capitalize on a mortgage hardship provision that would allow them to defer some payments, nor on a state law enabling them to offset their debt against separate, investment-related claims against Goldman. In July, the Beckers won a David-and-Goliath struggle when Goldman subsidiary MTGLQ Investors dropped its bid to seize their house. By then, the college-educated couple had been reduced to shopping for canned goods at flea markets and selling used ceramic glass. Theirs is an infrequent happy ending among the hundreds of cases...
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POPSGoldman Sachs Banksters Knew and Bet on Meltdown Filthy lucre on the backs of investors and then got Bailout money from taxpayers too, with the help of their "insider" (and Treasury Secretary) Timothy Geithner. (It helps to have pals in high places.--see Goldman-Geithner connections )
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POPSAnalogy du jour Real whores, after all, personally supply the services their customers seek. Prostitutes do not steal; their customers pay them voluntarily. And their customers pay only with money belonging to these customers. Go to site for additional info. In contrast, members of Congress routinely truck and barter with other people's property... Members of Congress are less like whores than they are like pimps for persons unwillingly conscripted to perform unpleasant services.
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POPSWall Street's Naked Swindle This was a brokered bloodletting, one in which the power of the state was used to help effect a monstrous consolidation of financial and political power. Heading into 2008, there were five major investment banks in the United States: Bear, Lehman, Merrill Lynch, Morgan Stanley and Goldman Sachs. Today only Morgan Stanley and Goldman survive as independent firms, perched atop a restructured Wall Street hierarchy. And while the rest of the civilized world responded to last year's catastrophes with sweeping measures to rein in the corruption in their financial sectors, the United States invited the wolves into the government, with the popular new president, Barack Obama — elected amid promises to clean up the mess — filling his administration with Bear's and Lehman's conquerors, bestowing his papal blessing on a new era of robbery. Read the whole nasty sociopathic scam
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POPSSafety nets for the rich More: Enough! Goldman Sachs is thriving while the combined rates of unemployment and underemployment are creeping toward a mind-boggling 20 percent. Two-thirds of all the income gains from the years 2002 to 2007 — two-thirds! — went to the top 1 percent of Americans. We cannot continue transferring the nation’s wealth to those at the apex of the economic pyramid — which is what we have been doing for the past three decades or so — while hoping that someday, maybe, the benefits of that transfer will trickle down in the form of steady employment and improved living standards for the many millions of families struggling to make it from day to day. That money is never going to trickle down. It’s a fairy tale. We’re crazy to continue believing it.
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