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The Ten Most Corrupt Americans
none of them are capitalists...all cronies
Great post. Thanks!
In the 80s we had The Keating Five.
Will this be The ShoreBank One?
Keating's Biggest Enabler?
The Felonious Criminal Milken and Drexel:
"In 1983, Milken's Drexel underwrote a $125 million debt-offering for Keating's American Continental Corporation..."
"Drexel underwrote a $56 million preferred stock issue of ACC. Keating took $51 million of the money and bought Lincoln."
"In other words, Drexel bought Lincoln for Keating. Drexel also secretly purchased a substantial hunk of the thrift for itself."
"Keating set about purchasing $2.7 billion in junk bonds, almost all of them (or at least the ones that regulators later inspected) from Drexel."
Where do you think the "Wall Street Stuffing Fannie & Freddie with MBS Junk" Idea Came From?
The same old play book... "Hey boys, dust of the Milken fraud for one more go..."
Philanthropist my ass... "I'm Bernie Madoff. I'm a philanthropist. I'm telling you right here! Trust me!"
More bananas please.
Speaking of which,
Have to say MCC(s) looks well in fuschia pink.
The CNBC anchorettes are making a real effort due a certain Aussie.
and kool-aid don't forget the kool-aide.
Ya think there might be some loans on those books that don't need the scrutiny of a FDIC closure?
OH SNAP! I just got an erection. This shit is going to be JUICY!
Paging Oliver Stone: "W" was kind of meh, in comparison to J.F.K and Nixon, but when Barry O's "1" term is over, I think you might have some material to work with!
Oh, of course they're on this like stink on shit; it will provide cover for their continuing effort to derail ANY effective banking regulation. Bunch of hypocritical brats.
Please point me to the "effective banking regulation" that is to be derailed.
I say we hire Neil Bush of Silverado fame to do the investigation. He'll have the best perspective.
You have to love how Congressional Republicans jump on this issue of a tiny community bank while at the same time repeatedly preventing things like the Volker Rule to even come to a vote. Thank you GOP for wrecking this country and preventing any hope for it. Effing morons.
I'm sorry wallstreetnobody ... who is an Effing Moron?
Wasn't it Bill Clinton who signed the repeal of the Glass-Siegle Act?
Racists! (sarcasm off)
hmmm.......these wouldn't be members of the same republican party who are sucking the cream out of the c***s of WS banks, in exchange for ensuring that any substantial financial regulation never sees the light of day (see fed audit vote and last nights debate on Merkley-Levin amendment)?
"these wouldn't be members of the same republican party who are sucking the cream out of the c***s of WS banks..."
Yes lizzy... that would be them.
Didn't You Ever Read Mad Magazine?Spy vs. Spy?Well this is Ho' vs. Ho'...
Young lady... did you just say c***s the "CSuckers" word?
home bank of the Community Relations Act of 1977...yeah that ended well
This is like Martha Stewart serving jail time, while Blankfein, Geithner, etc. still walk around.
Hey GOP, surprised you could get your nose out of GS's butt long enough to notice SouthShore...
There is so much crooked shit going on it is impossible to keep up with. I am telling you, we are slowly being de-sensitized to all of this and soon we will not even react.
What if.. Goldman helped out the bank to make Obama look bad. It would be ridiculously difficult to prove they did, and Obama would start sounding like Blagojevich if he denied it.
Obama better come out and say F***in' a' right I had Goldman bail out ShoreBank. Blankfein is going to polish my shoes next!
That'd be hilarious.
I mean, Obama just buddy-fucked them. The liberals as well as the conservatives are yelling about Bob Rubin.
Rubin's basically the Zeus of Goldman Sachs (can't be too popular among the rank and file, though). If they're trying to "distance" themselves from Obama, GS may as well bring down the government with them like a crazed animal.
Silly rabbit. All these banks defied statistical impossibility and arrived at precisely the same conclusion at precisely the same time, that it was a really really good idea to bail out.....er....invest in ShoreBank.
There is no conspiracy. And based upon the mainstream media, there has never ever been a single conspiracy ever in the world since the one to kill Jesus Christ. And if you think otherwise, you must be a conspiracy theorist.
The one to kill Jesus wasn't really a conspiracy either. He choose martyrdom because he wanted to start a revolution, only it backfired 30 years later when the Romans burned down the great temple and crushed the Jewish uprising. Read your Bible.
Sorry, I forgot something.
There, that's better.
Didn't you get the memo that we're now in the "Do as I say, not as I do!" phase of government? Of course O'Blama didn't start it - he's just perfecting it.
So, let me get this right.. We investigate potential Administration influence for bailouts of $150M, yet we do not investigate for potential Administrator influence for bailouts in the billions and trillions.
I love Congress.
I don't even know where to begin. The pot calling the kettle black doesn't even begin to describe it. Hubris and hypocrisy are dripping everywhere. Not sure which is worse, the BS that was offered up by the banks as a rationale for "investing" in ShoreBank or the Republican investigation because Republicans are "shocked, shocked" that there could be such skullduggery. Meanwhile the average American continues to get hosed at the hands of the power hungry, greedy bastards in both Congress and at the major banks.
"But I don't want to go among mad people,' said Alice. 'Oh, you can't help that,' said the cat. 'We're all mad here.".....Lewis Carroll
GOP, first take bank reform seriously, then cast stones.
Why should they? Welcome to life in the congressional minority - when stones are all you have, casting them is all you do. Worked pretty well for the other guys from 2003 until 2007.
Besides, you don't honestly think any serious banking/finance reform is going to get past Chris Dodd (D-FriendOfAngelo) and Barney Frank (D-FanFred), do you?
"Barney Frank (D-FanFred) "
I think Barney's frank was is Freddies Fannie, personally.
(sorry couldn't resist.)
This is an interesting story....back in the 80's this bank/item was quite the bank in giving loans to small bzn in the chi-town area-among other activites. It served an ok function. Fast forward- CRA, Freddi, Fannie, et. al., Mr Raines perfected the small loans to loans of any stripe/form and term, especially RE. This bank grew like mad...to today. A crown jewel turned to rust.
They should have stayed true to the school of thought, small is beautiful.
Bandwagon is here ! All aboard.
Massive distraction. No one should take the bait.
It's embarrassingly small bait.
Keep your eye on the ball ZH!
This isn't it.
I briefly had accounts there and they had the absolute worst retail service. Couldn't keep their 4 (that's right - four) ATMs up and running, the lobby hours were nonexistent, and no online banking.
They are the pits.
Well if the GOP doesn't call for an investigation who else will?
This could really be dynamite for the Republicans against Obama and the Democrats going into the mid-terms. Sure we know they are all the same but, Joe and Jane Sixpack still doesn't quite know what to think about what has happened over the last couple of years and which politicians/party are to blame (and they do want someone to blame so they can feel better about voting for "the other guy"). This is a simple situation that they can get their brains around and whether it be Obama or the Clintons who applied the pressure, it certainly will not look good for the Democrats.
It's like watching the Sopranos, but with lower quality actors and more vulgar plot-lines. (or pro-wrestling. I can't decide)
They need to quit whining and posturing. After failing to show any sign of a backbone on financial reform, they want to go after nickel and dime shit ! Gimme a break.
And a bailout with grinding teeth that was - err, we're 25m short. Yep, all of us. Yep.
Is that how GE got in with their 20m? Still 5m missing...
ShoreGate ... Obama has put Nixon to shame ... Where are Bernstein and Woodward ?
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