"This Call Is Being Recorded For Quality Service"

Marla Singer's picture

You would think that, having run an investment firm of his own, the likes of Steve Rattner would realize that many hedge funds, particularly trader-centric firms (and which aren't?) record their calls.  Apparently, that detail escaped him during the Chrysler bankruptcy fiasco.

Zero Hedge has been told that at least one of the firms that were purportedly threatened with dire action by the likes of the IRS, SEC or White House Press Office (Rattner obviously confused the placid Robert Gibbs with Helen Thomas here) if they did not support the administration-backed spoonfeeding of the UAW, has the threats on tape.  Oops.

We didn't buy that Rattner resignation story in the first place, but how sad a state of affairs would it be if an Obama Czar used as the "cover story" for a resignation, allegations of fraud at their private equity fund because the truth was much worse?

If the story is true, it is a very disturbing revelation.  The White House's indignant denials would be total fabrications and it would be interesting to comb through Chrysler bankruptcy testimony to see if anyone perjured themselves.  Lying to a bankruptcy court is serious business.  Or used to be.  But this is one story where the "lie," to paraphrase Nixon, isn't what gets you.  Or shouldn't be.  Far more important is what this would mean for the rule of law (or lack thereof) in the United States.

What good is stamping out crony capitalism exactly if it is replaced with plain old cronyism bolted on to simple thuggery?

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Veteran's picture



Excellent work Marla

VegasBD's picture

If thats true, that would effectively put an end to this administration. I doubt it ever gets out.

Mos's picture

Why does this not surprise me?

Gabriel Gray's picture

Rattner = CFR .. will be protected at any cost.

Danz Gambit's picture

Rumors mean little. If you have the tape .. post it.

mezcal's picture

Yes, this thread is worthless without audio!

Anonymous's picture

As to the BS that blogs like Zero Intelligence spread, it is all based on linked and referenced facts (yes, that's what those graphs and hyperlinks in the posts are for, click them, you may be surprised what you find).


Anonymous's picture

This tape is still being surpressed by the MSM, no? http://www.latimes.com/news/nationworld/nation/la-na-video29-2008oct29,0...

Hansel's picture

Definitely whoever has this tape needs to go public with it.  They need to make a show of it, and with a lawsuit filed asap.

Anonymous's picture


Anonymous's picture

thuggery and cronyism, yes... and Thank you and TD very much in trying to voice something against it.... it is people like you that make the world a better place, not those idiots who are just out for their own evil self gratifications.

glenlloyd's picture

i wanna hear the tape....post the tape!

Anonymous's picture

i expected nothing less from barry soetero's white house - bordello for the illuminist nwo.....pimp-master jay rockefeller manning the reception desk.

Anonymous's picture

illuminati = naughty illuminist :-)

Anonymous's picture

It's shocking that we haven't picketed DC. Do these people deserve the honor of directing 40%+ of our paychecks? Throw them all out and let's start over with a focus on leaders with a high quality of thought not speachifying.

capitalisa's picture

We are.  Sept 12th, 2009 Washington, DC

Anonymous's picture

absolutely!!! i will never vote republican again
and will certainly not start voting democrap.....

Anonymous's picture

I will never vote again. Instead, I will spend time in zen meditation and smoking unfiltered palmal.

economessed's picture

I'm of the thought that if you organize and protest, you're expressing your right to voice grievances against your government.  It makes you feel better, and you'll get the chance to associate with other people who share your views.

But I don't believe protesting changes anything.  We jammed our congresscritters with unrelenting opposition (300:1 against) to TARP, but they went ahead and did what a few unelected people told them to do anyway.

If we no longer function as a representative democracy, you need to need to change tactics.  If government isn't accountable to its people, then we need to use child psychology on them to get what we want.

Right now, I'd rather they accellerate their spending on everything, accellerate borrowing, cut taxes everywhere, hire lots more workers, and bail out more businesses.  Let's explore the nether reaches of all the things government can do for everyone everywhere, and let's do it all right now.

The sooner this thing blows up, the higher the likelihood we'll rediscover a sustainable way of life.

VegasBD's picture

Agreed. Im in that same camp. Im happy to see what Obama is doing, it just brings the big RESET sooner rather than later.

Anonymous's picture

I second that. Instead of starving the beast, let them self destruct.

Anonymous's picture

don't underestimate the lawful channels which
as you report it almost succeeded....remember
that goldman-sachs-congress voted down the funds
the first time and only when the fbi files and
of the clinton body count were rolled out did
the house roll over and spread its legs....

if more people had been engaged in harassing the
house and senate we might have seen a victory
against the raping of america.....

economessed's picture

If you remember "The Monkey Wrench Gang" and Edward Abbey, you'll recall that Abbey had an epiphany after years of fighting the system through legal and illegal means for the ecological causes he believed in.  He bought a giant 1950-something Cadillac convertible with the giant fins and enormous fuel appetite and drove it around everywhere just for fun, burning as much fuel as he could as fast as he could.

Same principle applies here.  I write my Democratic government folk begging for every change and handout imaginable, demanding they not cave-in to special interests.  Then I write my Republican government folk and scream about taxes, market regulation, taxes, senior issues, taxes, preservation and expansion of Medicare and Social Security, taxes, and any other thing, including how high my taxes are, and how the military is grossly underfunded, threatening my family's safety.

This is like turning on the humidifier and dehumidifier in the same room and letting them battle it out.


Anonymous's picture

I think Ayn Rand had at least this concept correct. If enough of the productive were to go on strike, the pace of collapse would accelerate dramatically.

If money / tax is the life blood of the beast, find any way possible to legally starve the beast.

berlinjames02's picture

Buy an M4, while you still can. When the shit hits, it'll be like Katrina on a national scale. But don't worry- FEMA's coming!

texpat's picture

Yes, they really are coming...


National Level Exercise 2009 (NLE 09) is scheduled for July 27 through July 31, 2009. NLE 09 will be the first major exercise conducted by the United States government that will focus exclusively on terrorism prevention and protection, as opposed to incident response and recovery.

NLE 09 is designated as a Tier I National Level Exercise. Tier I exercises (formerly known as the Top Officials exercise series or TOPOFF) are conducted annually in accordance with the National Exercise Program (NEP), which serves as the nation's overarching exercise program for planning, organizing, conducting and evaluating national level exercises. The NEP was established to provide the U.S. government, at all levels, exercise opportunities to prepare for catastrophic crises ranging from terrorism to natural disasters.

NLE 09 is a White House directed, Congressionally- mandated exercise that includes the participation of all appropriate federal department and agency senior officials, their deputies, staff and key operational elements.  In addition, broad regional participation of state, tribal, local, and private sector is anticipated.  This year the United States welcomes the participation of Australia, Canada, Mexico and the United Kingdom in NLE 09. 

Buttercup's picture

The way to protest is to not participate in their Ponzi markets.  Personally, I have a very little interest in the markets.  I trade options, but the vast majority of my investable net worth is in the metals. 

Having metals also decreases the avaiable reserves of the bank that would have otherwise lent it out at a 10X multiple (the ones that are still lending).


VegasBD's picture

Protesting is only for countries that dont have American Idol.

Anonymous's picture

CNBC is running a 2 Hour Prime Time Special tongiht called Dow 9000: The Summer Rally....

you can't make this stuff up....

Anonymous's picture

Yeah, like don't forget MSFT, AMZN, AXP earnings in that report too eh CNBC!

deadhead's picture

I would prefer the 17% top line miss by GE.


oh wait, they own cnbc.....never mind.

assumptionblindness's picture

Even "thuggery" is OK when your actions are in the best interest of systemic collapse prevention.  Hank set the bar and Rattner raised it...if only we could hear his sweet, sweet, sweet diatribe in a wmv. format.  PLEASSSSSSSEEEEE!

deadhead's picture


1A. look for real proof of Obama transparency theme.

2. Listen

3. Laugh


Gabriel Gray's picture

msft yhoo deal going round again?

bchbum's picture

I just wanna hear Rattner say, "I haven't been f*cked like this since gradeschool."  


Sorry to use your words Marla.

decon's picture

If there's a tape I hope it was recorded lawfully.  Many states prohibit taping conversations without prior notification, hence the ubiquitous disclaimer on the reception recording.  My state allows it without prior notification if you're a party to the conversation.


This could be good!!

Marla Singer's picture

Recording for compliance is pretty clearly excepted from such laws.

VegasBD's picture



i miss the captcha =(

Marla Singer's picture
v. ex·cept·ed, ex·cept·ing, ex·cepts v.tr.
To leave out; exclude: An admission fee is charged, but children are excepted.
Joe Sichs Pach's picture

v. ex-cempt-ed, ex-cempt-ing, ex-cempts


Not really a word; no meaning:  sometimes used in the place of a real word when said real word is misunderstood or ability to spell is impaired

texpat's picture


Pwnt or Pwnd -adjective

  1. reduce an object or person to uselessness or ruins, as by rending, burning, or dissolving
  2. destroy while making the opposition feel like a fggt dressed as a nerd
  3. internet speak for seriously owned
  4. a euphemism for "I am a raging Internet faggot who has forever lost the ability to communicate with humans."
  5. generally used to create lulz on the internetz to make you feel cool. (Generally DOES NOT create lulz)


Eduardo's picture

LOLZzzzz I almost died

erich's picture

From what I have read, federal law allows single party consent to taping a phone call.  State issues are more complicated and whether it can be used in a court is more complicated.  Still, interstate phone taping seems safe, to me.

aldousd's picture

yeah but if you can get it posted to here, blogger, seeking alpha, that green place, cluster foo, and whatever else simultaneously, the evidence would be out there, pandering court system notwithstanding.


Anonymous's picture

Who cares if it's lawful. The message I've gotten loud and clear from this administration and the last one is that we don't need no stinkin badges. The law? That's so yesterday.

Gilgamesh's picture

Badges are stupid.  And racist.  The President told me so on TV.  In Primetime, while the good stuff is on so I wouldn't miss it.

VegasBD's picture

Or it could be a forgery. (in the way the bearer bonds in italy were a forgery)


speaking of, is anyone keeping tabs on that or has it been pretty much resolved? Any blogs keeping up on it anyone knows of?