Matt Taibbi Asks Why The Fed Gave $220 Million In Bailout Money To The Wives Of Two Morgan Stanley "Bigwigs"

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Tue, 04/12/2011 - 23:46 | 1164069 gangland
gangland's picture

sd i love u and ur engleeeeesh

Tue, 04/12/2011 - 19:26 | 1163342 Bob
Bob's picture

Absolutely systematic.  And they're way better at this than they are at respectable business. 

It seems to truly awaken their latent creativity.  And, for rich people, you gotta admit that's different. 

I always knew they really were special in some way. 

And they have a free army of useful idiots to pave the road for them.

Tue, 04/12/2011 - 14:25 | 1162424 max2205
max2205's picture

I am sure they hired thousands of unemployed workers too

Tue, 04/12/2011 - 20:35 | 1163584 disabledvet
disabledvet's picture

"aliens" i think they're called.  and "they want them driving tractor trailers now, too."  and i mean "now" when i say that.

Tue, 04/12/2011 - 15:13 | 1162623 Hacksaw
Hacksaw's picture

Ya, but we can't have all those dead beat mortgage holders who don't want to pay payments on mortgages that are more than the collateral is worth. They have a moral obligation to pay their debts. Bwahwahwah

Tue, 04/12/2011 - 17:19 | 1163072 Arkadaba
Arkadaba's picture

Thats what they are really scared of. The sheeple finally understanding the ponzi game. Which is also why the trolls on this site go after certain members.

Tue, 04/12/2011 - 15:52 | 1162765 Infinite QE
Infinite QE's picture

+1. Revolution is brewing but Joe Sixpack has become too much of Joe Fluoridehead mixed with GMO burgers.

Tue, 04/12/2011 - 19:18 | 1163351 calltoaccount
calltoaccount's picture

Indeed>

 

David DeGraw (www.ampedstatus.com) will be at the "Sounds of Resistance" concert and protest in New York's Union Square this Friday at 11 AM. Chris Hedges explains why he will be there as well: 

“The banks and Wall Street, which have erected the corporate state to serve their interests at our expense, caused the financial crisis. The bankers and their lobbyists crafted tax havens that account for up to $1 trillion in tax revenue lost every decade. They rewrote tax laws so the nation’s most profitable corporations, including Bank of America, could avoid paying any federal taxes. They engaged in massive fraud and deception that wiped out an estimated $40 trillion in global wealth. The banks are the ones that should be made to pay for the financial collapse. Not us. And for this reason at 11 a.m. April 15 I will join protesters in Union Square in New York City in front of the Bank of America.” 

Where: Union Square Park, New York, NY - When: 11:00 AM - Who: The People Angry at Big Finance - Why: To Break Up the Big Banks

Tue, 04/12/2011 - 21:37 | 1163765 dark pools of soros
dark pools of soros's picture

sick of the BS here..  break up the banks for what?? if the people do not take charge and create their own alternatives then nothing changes..  break them up and they'll just form again

 

With peer-to-peer lending, you see an alternative.  If it ever really caught on, you will know it since it would get attacked by legislation or dirty tricks by the rich paying people to default en mass to discredit it. 

 

But what we need is more steps like this. Peer-to-peer business, entertainment, etc but you know the majority of the people who complain are shitty workers. They say they work hard but they are just drained by their crap tasks and do not really push productivity to a high level. And would take any easy road if bought out for a song

 

I can go on, but it's a waste of time - like those protests that people think they are accomplishing something since they gave away their sacred free-time.. 

Tue, 04/12/2011 - 22:13 | 1163874 dark pools of soros
dark pools of soros's picture

and there you have it..  instant gratification junking with no effort to reply

 

exactly my point

 

 

Wed, 04/13/2011 - 08:31 | 1164642 tip e. canoe
tip e. canoe's picture

"peer-to-peer lending" : the most efficient way for an individual to take control & responsibility for their own personal risk management.

anyone with a belief in free markets & efficient market theory should be all over this.

Wed, 04/13/2011 - 05:08 | 1164432 Harlequin001
Harlequin001's picture

With gold back in money these people can't leverage these so called opportunities to make these so called peofits. There would be no need to complain about banks, just politicians who will forever promise more than they can deliver, and idiots prepared to vote for anyone that promises it.

Gold back in money, it's the only way.

Tue, 04/12/2011 - 15:57 | 1162766 anonnn
anonnn's picture

Upon first learning of Student Loan program that was  promulgated by the banking industry, i understood the gambit. 

The new law enabled banks to make government-guaranteed loans to students, in volumes limited only to fractional-reserve creation of electronic accounts.

That explained the craze to offer loans to any student---naive kid or silly child or newly-18 yr old adult---even begging the student to take the cash...because the 18-yr old kid suddenly had a signature worth a fortune to the banker-is-an-authority-figure scammer.

 The bankers simply had no risk of loss playing with OtherPeoplesMoney. Not gambling and not speculating at all, just rigged clever-stroke theft...a license to steal...literally, a privilege.

 

Tue, 04/12/2011 - 20:37 | 1163596 disabledvet
disabledvet's picture

far worse actually.  "you are required by law to repay your student loan."  ask your doctor.  in short "in your absence government we will be the government."  i'm sensing "absenteeism" on a Biblical scale right now.

Tue, 04/12/2011 - 13:31 | 1162177 Sancho Ponzi
Sancho Ponzi's picture

A snippet from the full article at RS:

The technical name of the program that Mack and Karches took advantage of is TALF, short for Term Asset-Backed Securities Loan Facility. But the federal aid they received actually falls under a broader category of bailout initiatives, designed and perfected by Federal Reserve chief Ben Bernanke and Treasury Secretary Timothy Geithner, called "giving already stinking rich people gobs of money for no fucking reason at all." 

Tue, 04/12/2011 - 14:45 | 1162495 Dr_Dazed
Dr_Dazed's picture

Excellent writing - but why is that this sort of reporting only shows up in Rolling Stone, Salon, Vogue and on NPR w/ their Planet Money series?  I know all about the lame-stream media whining, but it still seems like someone ought to pick this sort of thing up.  I guess we are a nation of zombies captured by elitist cabals and corporate controlled government.  Sad.

Tue, 04/12/2011 - 14:48 | 1162514 Infinite QE
Infinite QE's picture

Because the people who took advantage of this own the media.

Tue, 04/12/2011 - 17:52 | 1163145 Clancy
Clancy's picture

NPR is actually running interference for the banksters.  It's subtle usually, but unmistakable.

 

Pay close attention to who they *dont* blame.

Tue, 04/12/2011 - 19:22 | 1163358 calltoaccount
calltoaccount's picture

Right.  NPR has swallowed the Koch-ade and skunked over to the dark side.

Tue, 04/12/2011 - 19:53 | 1163447 Natasha Fatale
Natasha Fatale's picture

PBS is doing the same thing. Did you watch their documentary on 'Rediscovering Alexander Hamilton' last night?

It was revisionist history at its finest: they had the nerve to equate the Obama's bailouts as a courageous response modeled after Hamilton's own actions during the speculative bubble during Washington's Administration. Can you f$%&ing believe that?! Shameless, especially the part when they interviewed Hank Paulson, depicting him as possessing some Hamiltonian wisdom.

I had to turn it off after the first hour and a half, I couldn't take it anymore.

Tue, 04/12/2011 - 21:55 | 1163817 dark pools of soros
dark pools of soros's picture

the only problem with all that is that you must feel to see Hamilton in a positive light.  Hamilton was a cancer so I feel the comparisions are perfect... 

Tue, 04/12/2011 - 18:54 | 1163278 Ned Zeppelin
Ned Zeppelin's picture

Looks like you answered your own question. Correctly I might add.

Tue, 04/12/2011 - 20:46 | 1163615 RockyRacoon
RockyRacoon's picture

Taibbi appeared several times in the past on Olbermann's show talking about his articles.  Everyone didn't ignore Taibbi.   This stuff gets around.

Tue, 04/12/2011 - 20:47 | 1163624 IQ 145
IQ 145's picture

 Well, look at it this way; which of the three owners of the mass media do you want to get fired by? Your article won't make it out of the editors office, and you will get fired. Simple, eh? There isn't any "someone"; there only employees of the three superrich owners; who are interchangable.

Tue, 04/12/2011 - 21:26 | 1163714 In Fed We Trust
In Fed We Trust's picture

Tyler,

What ever happend to the Muckety maps?

Tue, 04/12/2011 - 21:32 | 1163746 In Fed We Trust
In Fed We Trust's picture

Not surprised. Just read that in Boluder CO, they pulle the plug on green energy upgrades to your house.  And its reactactive. Meaning people who bought solar panels 5 years ago with sweet financing deals are finding out that, all of a  sudeen they owe 20,000 grand more on their mortgage beccause the FEDS pulled the plug on these loans. They say they fimnd them to risky! Imagineb that, the banker s say that that efficient energyup upgrades to your home, are your considered risky!

Tue, 04/12/2011 - 13:20 | 1162119 Popo
Popo's picture

Clawback first.  Then guillotines.  

Actually, screw the guillotines.  Let's just tie 'em to the rear fender and take 'em for a drag -- one by one...

 

 

Tue, 04/12/2011 - 13:26 | 1162147 trav7777
trav7777's picture

I'm still kinda stunned that not one person laid off, foreclosed, evicted from one of these companies hasn't taken an assault rifle to HQ and capped the executives whose pay went up by 12%

Tue, 04/12/2011 - 13:49 | 1162260 Holodomor2012
Holodomor2012's picture

fluoride bitchez?

Tue, 04/12/2011 - 14:27 | 1162431 scythian empire
scythian empire's picture

off with their heads?

Tue, 04/12/2011 - 15:11 | 1162627 Ese Pinche
Ese Pinche's picture

+ lithium

Tue, 04/12/2011 - 16:45 | 1162959 Vendetta
Vendetta's picture

The lack of payback is a sad reflection of the state of disunion and lack of focus on what is righteous in the US

Tue, 04/12/2011 - 20:30 | 1163576 Dburn
Dburn's picture

+10

Unreal. I didn't think of it that way. Not one fucking person went postal. I'll bet they have triple tiered layers of protection at those banks, sharpshooters, laser rays, database profiles and identities from NSA computers right next to the HFT computer banks. If a guy looks like he can't walk a straight line he is vaporized on the spot.

Poof. Clean up on Hallway 13. File missing persons report automatically with NYPD. Mark case 4 years old and closed.

Have a nice day people :-)

Tue, 04/12/2011 - 13:53 | 1162152 long juan silver
long juan silver's picture

Click the link and read the whole article. Some fucker needs his balls whacked with a hammer and soon.

Excuse me. I've got to go out to the yard and bring in the chair I just threw out the window.

Tue, 04/12/2011 - 13:34 | 1162190 TheMerryPrankster
TheMerryPrankster's picture

With gasoline prices nearing 5$ usd, I'd prefer we drag them in groups as it is more cost effective and environmentally friendly, plus it gives them a chance to network so they'll have more friends in hell.

Tue, 04/12/2011 - 15:02 | 1162572 willien1derland
willien1derland's picture

Great idea, however, since they named their fraud 'Waterfall TALF' after you drag them a little send them over Niagara Falls & in the spirit of Obam's Healthcare initiative, let's rescue them each time, nurse them back to health & do it over & over again - but I am NOT ANGRY...

Tue, 04/12/2011 - 22:26 | 1163823 G-R-U-N-T
G-R-U-N-T's picture

Hm....

 

Tue, 04/12/2011 - 13:40 | 1162225 Urban Redneck
Urban Redneck's picture

RICO

Tue, 04/12/2011 - 14:58 | 1162426 slaughterer
slaughterer's picture

Could somebody post some pictures of these women here immediately?  I want to see the face of the enemy.

 

Tue, 04/12/2011 - 14:59 | 1162558 slaughterer
slaughterer's picture

Well, just did a google image search for "Christy Mack" and saw the face of the beast.  Funny, lots of good porn star girls mixed in with the same name.  Must be the SEC connection...

Tue, 04/12/2011 - 15:04 | 1162578 willien1derland
willien1derland's picture

LMFAO!!! +1,000 - Thank you, I really needed a laugh!

Tue, 04/12/2011 - 15:31 | 1162682 Zero Govt
Zero Govt's picture

just Googled 'Christy Mack photos' and low and behold, up came a charity bash for The Nature Conservancy... at the bash was the Honorable Henry M. Paulson Jr., former chairman of the Charity (my what a mighty small world Wall Street is!!) ......"Mayor Michael R. Bloomberg was joined by more than 400 prominent New Yorkers and leaders of the world's top financial institutions and corporations to raise $2.5 million to fight climate change..."

Another (green) mask for 'saving the world' by robbing the public, just like 'saving' the worlds financial system ...is there no end to the goodness of these parasites charitable work on our behalf?!!! 

Tue, 04/12/2011 - 16:44 | 1162962 Vendetta
Vendetta's picture

+47

Tue, 04/12/2011 - 17:49 | 1163136 velobabe
velobabe's picture

alias christy mack photos' porn star and hot one to boot.

http://www.google.com/images?q=christy+mack&oe=utf-8&rls=org.mozilla:en-...

Tue, 04/12/2011 - 21:58 | 1163831 tom a taxpayer
tom a taxpayer's picture

Zero Govt - I need a barf bag after reading about that Mack-Paulson-Bloomberg-Nature-Conervancy clusterflock. Yuck!

Wed, 04/13/2011 - 08:37 | 1164649 tip e. canoe
tip e. canoe's picture

if you dig into the Nature Conservancy a little deeper, you will see that it's the lynchpin in the GoldSack boys' carbon credit scheme.    then look at a map of Eastern LI and see how much land NC owns out there (which I bet they got for a song).

Tue, 04/12/2011 - 22:09 | 1163806 G-R-U-N-T
G-R-U-N-T's picture

The depth of blatant in your face corruption is mind boggling. How much more can us tax payers take? What will be the breaking point?

 

Wed, 04/13/2011 - 10:28 | 1165013 Bob Paulson
Bob Paulson's picture

TARP was the Government's money, TALF was the Fed's money, so not the taxpayers. The article is wrong.

Tue, 04/12/2011 - 13:24 | 1162145 mogul rider
mogul rider's picture

F'ng Bastille Day Bitchez

They must have a civilian killing and fighting force ready, cause I'm about to go Telco?

Tue, 04/12/2011 - 13:39 | 1162219 blindfaith
blindfaith's picture

we are kidding ourselves, nothing will happen to them...ever.  They have the full faith, credit, and Homeland security of the United States of America to watch out for their best, very best, personal safety and financial interests.

Why would anyone think or believe that any of these criminals will ever pay for their crimes when history has proven otherwise.

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