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Maxine Waters Denounces Bank of America - GSE Putback Deal As Taxpayer "Giveaway"

Tyler Durden's picture





 

While we frequently make fun at Maxine Waters, and often for good reason, in this case the Congressional Democrat is spot on: the member of the House Financial Services Committee has denounced the BofA-GSE settlement as nothing more than a "backdoor bailout" funded by taxpayers, precisely as disclosed yesterday in the exhaustive Forbes piece that is a must read.

From a just released statement.

Congresswoman Maxine Waters, a senior Democrat on the House Financial Services Committee, issued the following statement today after Bank of America settled with Fannie Mae and Freddie Mac for $2.8 billion over the misrepresentation of loans that the bank originally sold to the GSEs:

I’m concerned that the settlement between Fannie Mae, Freddie Mac and Bank of America over misrepresentations in the mortgages BofA originated may amount to a backdoor bailout that props up the bank at the expense of taxpayers.  Given the strong repurchase rights built into Fannie Mae and Freddie Mac’s contracts with banks, and the recent court setback for Bank of America in similar litigation with a private insurer, I’m fearful that this settlement may have been both premature and a giveaway.  The fact that Bank of America’s stock surged after this deal was announced only serves to fuel my suspicion that this settlement was merely a slap on the wrist that sets a bad example for other negotiations in the future
 
I understand that the questions raised by fraudulent servicing practices were not addressed in these settlements, and I hope that Fannie Mae and Freddie Mac, along with their conservator, are more aggressive in pursuing banks for the fraud I documented in my Subcommittee during the last Congress.”

Zero Hedge also hopes that formerly disgraced BofA GC Tim Mayopolous unrecuse himself (we have no idea how on earth that is possible), and if he will not or refuses to, then he should immediately vacate the post which he took after being fired from precisely the same position at Bank of America. At least there his duty dereliction would  confine damages to the firm's sad shareholders. Now that he is at Fannie, taxpayers simply refuse to have this "counsel" represent them if he will not pursue taxpayer interests to the fullest extent, which at the end of the day amount to trillions of dollars. And certainly, Mayopoulos should immediately see his annual compensation cut dramatically from his existing run-rate of $3 million - an amount  henceforth collected for reasons unknown.

 


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Tue, 01/04/2011 - 18:43 | Link to Comment midtowng
midtowng's picture

How is it possible that a non-conservative can be right about anything on ZH?

Tue, 01/04/2011 - 20:48 | Link to Comment UncleFurker
UncleFurker's picture

>How is it possible that a non-conservative can be right about anything on ZH?

The enemy of my enemy is my friend.


Tue, 01/04/2011 - 21:04 | Link to Comment MiguelitoRaton
MiguelitoRaton's picture

It's very simple Maxine is just pissed off that a taxpayer giveaway went to a bank and she didn't get her piece of the action. Now, had it gone to the bank her husband invested in (like the time she got caught with her hand in the TARP cookie jar) all would have been well. But for her to get caught on a small taxpayer bailout to her husband's bank and then to have this HUGE bailout to a bank where she doesn't get a taste...that is just plain wrong! How dare they? Had Maxine gotten her taste of the deal, she would be quietly licking her chops right now.

Tue, 01/04/2011 - 22:46 | Link to Comment johngaltfla
johngaltfla's picture

Uh, a staffer read ZH and went "oh, now we can scream about this since we are in the minority power position" which of course is hilarious because they were dead silent last week when the taxpayers were raped by the Treasury as the took money from their left pocket (taxpayers) transferred it to their right pocket (GMAC/ALLY) then shuffled it to their front pockeet (Fannie & Freddie).

With a 0.15% settelement on the billions owed.

And I didn't get a kiss or reach around from the scumbag Turbo Timmy either.

Wed, 01/05/2011 - 02:30 | Link to Comment Calvin Jones an...
Calvin Jones and the 13th Apostle's picture

Stopped clocks and all of that.

Tue, 01/04/2011 - 18:47 | Link to Comment mynhair
mynhair's picture

Maxine Waters, get outta here!

http://www.youtube.com/watch?v=OrA9zj94NuU

Tue, 01/04/2011 - 19:00 | Link to Comment gangland
gangland's picture

SCORE! lapd chase

Tue, 01/04/2011 - 19:05 | Link to Comment NotApplicable
NotApplicable's picture

Viva la Chavez?

Tue, 01/04/2011 - 19:18 | Link to Comment Careless Whisper
Careless Whisper's picture

@mynhair

yeah, she's a little ditzy, but when the exec from shell oil threatened her with $5/gallon gas if they can't drill more, she told him back-off jack or we'll take over your oil company.  she wasn't very artful, but she made her point.

Tue, 01/04/2011 - 19:40 | Link to Comment Cdad
Cdad's picture

If you really believe deeply in what you just wrote, then you are as your name would indicate.  A little ditsy?  Are you serious?  She is a moron.  She is also a socialist...although she has not admitted this publicly. 

Like everyone else here, I want the worm to turn for me, for you, and for justice...but not at ANY PRICE!

Good grief [and by that I mean I cannot believe you described her as "a little ditzy."]

Tue, 01/04/2011 - 19:50 | Link to Comment nmewn
nmewn's picture

Maxine has picked all the meat off the bone...time to throw it over her shoulder to the dogs.

Tue, 01/04/2011 - 20:02 | Link to Comment Lord Koos
Lord Koos's picture

Gee who caused more damage to America -- BP or Ms Walters?

Tue, 01/04/2011 - 20:13 | Link to Comment cosmictrainwreck
cosmictrainwreck's picture

hmmm....let me think about that one. Maybe BP, but ONLY because we can't pin but 1/535th of the shitstorm on Maxine. Otherwise, a dead heat.

Tue, 01/04/2011 - 20:20 | Link to Comment Cdad
Cdad's picture

These are even dumber responses to the issues.  Socialism, as it has taken hold in America over the last 30 years, has done FAR MORE DAMAGE THAN BP.  I say this as a fellow short the world's largest petroshrimp maker.

Please, this part of the comment thread under this "Waters" issue is becoming really, really, really stupid...and so it should be ended as participants in it take a moment to think before talking.

Our prayers are not answered in the words of Maxine Waters.  Of this, I am sure.  If you are not, you probably need to initiate a vitamin regiment.

Tue, 01/04/2011 - 18:47 | Link to Comment goldfish1
goldfish1's picture

At least she has the moxie to say what's on her mind and for that, kudos.

Tue, 01/04/2011 - 18:48 | Link to Comment mynhair
mynhair's picture

Moron.  Where have you been?  See above.

Tue, 01/04/2011 - 20:08 | Link to Comment goldfish1
goldfish1's picture

fukk urself

Tue, 01/04/2011 - 18:55 | Link to Comment DosZap
DosZap's picture

Yeah, the lying sack of shit,I despise the bitch.She is guilty as hell, and should be minimum Reprimanded like Dingledangle for her theft.All the years of race carding and baiting what a scunt.

TO her credits, 1 Right , 10,000 Wrong.

Tue, 01/04/2011 - 19:16 | Link to Comment atomicwasted
atomicwasted's picture

When someone's on your side on an issue you get behind them on that issue.  It doesn't mean you have to like them.  How are we going to get people on our side when we just shit all over them when they finally do the right thing?

Tue, 01/04/2011 - 22:01 | Link to Comment Cursive
Cursive's picture

@atomicwasted

Word.  Some people have a little problem with coalition building.

Tue, 01/04/2011 - 18:47 | Link to Comment Spalding_Smailes
Spalding_Smailes's picture

Cry me a river. The smart money is on BAC & AIG the bailout saved the system. 

Buy low ... Sell high.

Tue, 01/04/2011 - 18:52 | Link to Comment SwingForce
SwingForce's picture

What system?

Tue, 01/04/2011 - 19:06 | Link to Comment NotApplicable
NotApplicable's picture

Buy blow ... Get high.

Tue, 01/04/2011 - 23:21 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Have you learned nothing here? BTFD.

Tue, 01/04/2011 - 18:49 | Link to Comment Screwball
Screwball's picture

Hell froze over.

Tue, 01/04/2011 - 18:52 | Link to Comment mynhair
mynhair's picture

If your $174,000 salary plus benefits plus future speaking engagements were threatened, would not you also lie out your ass?

Tue, 01/04/2011 - 18:54 | Link to Comment Sophist Economicus
Sophist Economicus's picture

For $174K ya think she could get better specs than the ones she's sporting

Tue, 01/04/2011 - 18:54 | Link to Comment mynhair
mynhair's picture

Butthead, I wasn't done editing.  And now I fergot.....

Tue, 01/04/2011 - 18:55 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Bet you were gonna bring up diction lessons too....

Tue, 01/04/2011 - 19:13 | Link to Comment mynhair
mynhair's picture

Dem 2....

Tue, 01/04/2011 - 18:53 | Link to Comment ReallySparky
ReallySparky's picture

lol. + 1 Trillion.

Tue, 01/04/2011 - 18:51 | Link to Comment Blano
Blano's picture

Maxine Waters might be right about something.

Detroit Lions win 4 straight.

Somebody needs to check the temperature in Hell.

Tue, 01/04/2011 - 18:54 | Link to Comment Sophist Economicus
Sophist Economicus's picture

It was in the FOMC minutes -- Still hot, very hot

Tue, 01/04/2011 - 20:53 | Link to Comment oygevalt
oygevalt's picture

Totally... hell has frozen, the check is in the mail, and baby I'll respect you in the morning territory there.

Tue, 01/04/2011 - 23:27 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Wake me up when the LA Clippers Win the NBA title.

Max is just a blind squirrell trying to get a nut

Tue, 01/04/2011 - 19:03 | Link to Comment SwingForce
SwingForce's picture

Maxine, call it like it is! BAC got off the hook for 1 cent on the dollar! Who pays the other 99 cents? You are right! The Taxpayers! "Its an outrage! If I were you, I wouldn't pay it!" - Groucho Marx, and its alot more than an extra coke we're talking about.

Policeman: "A hermit eh? Then why's your table set for four?" Groucho: "That's nothing. My alarm clock is set for eight."

Groucho Marx in A Night at the Opera (movie)

Taxpayers are killing themselves in droves, their burden is not an issue?

 

Tue, 01/04/2011 - 18:58 | Link to Comment mynhair
mynhair's picture

Bitch has a lamp post reserved in her name.

DHS, just quoting the Wif.

Tue, 01/04/2011 - 19:37 | Link to Comment weinerdog43
weinerdog43's picture

One for you too, Nazi, one for you too.

Tue, 01/04/2011 - 19:00 | Link to Comment mynhair
mynhair's picture

Maxine and her conscience (if she has one)

http://www.youtube.com/watch?v=X3iFhLdWjqc

Tue, 01/04/2011 - 19:03 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Now mind you, I'm just thinking out loud here, but given the number of posts you have heaped on dear Ms. Waters, something tells me you did not contribute to her last re-election bid...

Tue, 01/04/2011 - 19:03 | Link to Comment Cdad
Cdad's picture

I think waiting for justice to come from the hand of Maxine Waters is the equivalent of tuning in to Fast Money for comprehensive trading advice. 

 I hope that Fannie Mae and Freddie Mac, along with their conservator, are more aggressive in pursuing banks for the fraud I documented in my Subcommittee during the last Congress.”

When Maxine Waters releases more comments that reveal that she understands that Freddie, Fannie, and the conservator are all in bed with the criminal syndicate known as Wall Street...and none will pursue no such aggressive path to fraud revelation, I will continue to not hold my breath on her account.

Sorry...I just cannot go that low in search of light.

Tue, 01/04/2011 - 19:05 | Link to Comment liberal sodomy
liberal sodomy's picture

That fucking nigger should be manning bedpans in haiti or the congo.  Not sitting in the seat of an Anglo Saxon government.

Tue, 01/04/2011 - 19:10 | Link to Comment NotApplicable
NotApplicable's picture

You fail so hard at trolling, it isn't even funny.

Tue, 01/04/2011 - 19:18 | Link to Comment liberal sodomy
liberal sodomy's picture

So you're saying she shouldn't be manning bedpans in the Congo and she should be sitting as a representative in an Anglo Saxon form of government?

 

I guess we do get the government we deserve.

Tue, 01/04/2011 - 20:06 | Link to Comment Lord Koos
Lord Koos's picture

I need no more conformation that you're an idiot.

Tue, 01/04/2011 - 20:09 | Link to Comment liberal sodomy
liberal sodomy's picture

Good.  Conformed.

Tue, 01/04/2011 - 19:22 | Link to Comment DoctoRx
DoctoRx's picture

This reply crosses a line that is difficult to cross at ZH.

Tyler:  is there a way to block comments containing certain words?

Tue, 01/04/2011 - 19:24 | Link to Comment liberal sodomy
liberal sodomy's picture

"Cry me a river"  -leonard pitts

Tue, 01/04/2011 - 19:44 | Link to Comment cosmictrainwreck
cosmictrainwreck's picture

Doc, I sympathize with your sentiment - and personally have no truck with anything the sodomizer has to say, BUT geeze-louise, ZH is the ONLY fukin' place I have any respite from PC-ness. So - if we ban "nigger" how 'bout motherfucking cocksuker (only when used together). That I would take as an affront to my "freedom of expression". It's a bitch.

Tue, 01/04/2011 - 20:57 | Link to Comment oygevalt
oygevalt's picture

I've howled about anti-Semitic remarks in the past, but only to the poster... it's a beauty of the site that Tyler allows anything to go.  Shouldn't be howling to him.

Tue, 01/04/2011 - 21:35 | Link to Comment cxl9
cxl9's picture

Shut up. Just ignore him if you don't like what he says.

Tue, 01/04/2011 - 22:17 | Link to Comment Atomizer
Atomizer's picture

This reply crosses a line that is difficult to cross at ZH.Tyler:  is there a way to block comments containing certain words?

 

Doc, I always look out for the PC types. That said, take fucking your miserable liberal ass back to Market Watch if you prefer to see the word FUCK OFF appear as @#$&^*.

Just trying to be politically correct Doc. No hard feelings eh?

Tue, 01/04/2011 - 23:36 | Link to Comment weinerdog43
weinerdog43's picture

No problem fuckface.

Tue, 01/04/2011 - 19:33 | Link to Comment SwingForce
SwingForce's picture

Is that why you licked her ear while she was trying to talk? See this video at 2:00

http://www.youtube.com/watch?v=ylufIKArbfk

 

Tue, 01/04/2011 - 20:30 | Link to Comment liberal sodomy
liberal sodomy's picture

I was simpwy weminding huw dat my wancid cwap seeps into my 54W twousers due  to my wectal cancuh and dat I would soon wequire a bwake.

Tue, 01/04/2011 - 21:10 | Link to Comment Art Vandelay
Art Vandelay's picture

You forgot to mention that she is a Jew. Secretly. And that she once blew a Bilderberger. Or maybe it was a Rothschild. Anyways, one of those groups that control the world, secretly, behind the backs of us good white Christian folk. The ones that wont stop sending those messages to you through your TV set, those that even the heavy duty aluminum can't stop.

Tue, 01/04/2011 - 21:18 | Link to Comment liberal sodomy
liberal sodomy's picture

Let me put it to you this way.

communist cultural marxist jews figured out that they would never get their revolution of the proletariat so they substituted blacks, homos, feminists, illegals, atheists etc into their satanic dialectic.

jews use brown people and homosexuals as cultural,political,economic, and biological weapons of mass destruction to WRECK schools, communities, countries while maintaining their ethnic cohesion and seperateness. Understand now?  Itz a little game they play and is laid out in their "holy" book the talMUD.

 

 

Wed, 01/05/2011 - 04:32 | Link to Comment Confused
Confused's picture

I junked you.

 

I'm not sure where to begin. 

Tue, 01/04/2011 - 19:07 | Link to Comment Catullus
Catullus's picture

Did Mr. Mayopolous get a tax break on the sale of his stock options from BofA? Hank Paulson certainly recieved one to take the Treasury Secretary position.

Tue, 01/04/2011 - 19:08 | Link to Comment cjbosk
cjbosk's picture

Sodomy...LMAO!  Keep 'em coming.  Agree whole heartedly, remember ebonics?  Well, apparently it's alive and well!

 

 

Tue, 01/04/2011 - 19:10 | Link to Comment SwingForce
SwingForce's picture

She is RIGHT ON! And she watches the stock market! Jeez, even the SEC doesn't do that....

Tue, 01/04/2011 - 19:11 | Link to Comment Misean
Misean's picture

Blind squirrels and acorns...yawn...

The propaganda press only generates buzz 'round Maxine when she's race baiting...

 

Tue, 01/04/2011 - 19:11 | Link to Comment Logans_Run
Logans_Run's picture

I'm just wondering if she wasn't anointed by the party to express "shock and outrage?" Depending on how this works out the Party can either enshrine or demonize her to suite their needs. Like Charlie she is expendable at this point.

Tue, 01/04/2011 - 19:14 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Like Charlie she is expendable at this point

 

Maybe, but what toilet will keep her down?

Tue, 01/04/2011 - 19:13 | Link to Comment max2205
max2205's picture

To her it's only a giveaway if no poor people get any.

BAC was gifted again on this

It'd be nice if these fines started to be sent to citizens aftected

Right now I don't know where this fine money goes. Anyone?!

Tue, 01/04/2011 - 19:16 | Link to Comment Misean
Misean's picture

$1.7T annual deficits as far as the eye can see.  An actuarial black hole over $50T deep...

You're kidding, right?

Tue, 01/04/2011 - 19:18 | Link to Comment mynhair
mynhair's picture

When do we get to pick on Debbie 'I Can't Wash My Hair' - Schultz?

Talk about anti-NY-Jew bait....

http://www.youtube.com/watch?v=BHFUH_frhBw&NR=1

Tue, 01/04/2011 - 19:17 | Link to Comment SwingForce
SwingForce's picture

You go girl! Here's an oldie, but goodie, in 2009:


Maxine Waters Questions Bailed Out CEOs

 http://www.youtube.com/watch?v=ylufIKArbfk

Tue, 01/04/2011 - 19:21 | Link to Comment mynhair
mynhair's picture

Yep, dem nigers need more loans they can't afford, why dez money going to dem Asians?

Tue, 01/04/2011 - 19:23 | Link to Comment SwingForce
SwingForce's picture

Totally irrelephant. See Maxine grill The Benbernank:

http://www.youtube.com/watch?v=jORdN7v0ej0

Tue, 01/04/2011 - 19:25 | Link to Comment mynhair
mynhair's picture

That was Niger, as in the river.

Tue, 01/04/2011 - 19:28 | Link to Comment SwingForce
SwingForce's picture

Ya, like Denial, I get it....

Tue, 01/04/2011 - 19:18 | Link to Comment b_thunder
b_thunder's picture

What's she going to do about it?   On one side you've got FNMA Ex- CEO Franklin Raines, on the other - Congressman Melvin Watt, and in the middle - Timmy-boy, who has "full confidence" of Obama.

Will Congresswoman Waters do ANYTHING about the multi-billion dollar fraud perpetraded against the taxpayers of America under a watchful eyes of 2 most prominent african-american (over) achievers?  (and a third one who's a shill for BofA)

 

Tue, 01/04/2011 - 19:22 | Link to Comment robertocarlos
robertocarlos's picture

I always thought she was stupid.

Tue, 01/04/2011 - 19:26 | Link to Comment mynhair
mynhair's picture

Uh oh, attitude adjustment here!

Tue, 01/04/2011 - 19:27 | Link to Comment SwingForce
SwingForce's picture

Then she fits right in, watch out if she ever hooks up with Dylan Ratigan...

Tue, 01/04/2011 - 19:31 | Link to Comment HL Shancken
HL Shancken's picture
Maxine Waters' Pro - Communist Past

Embattled Californian Congresswoman Maxine Waters began her political career as an ally of the Communist Party USA .


Waters supported several party front organizations including the National Alliance Against Racist and Political Repression, which was led by leading communists Angela Davis and Charlene Mitchell.

This 1982 pamphlet reveals just how willing then California State Assemblywoman Waters was to lend her name to Party causes.

During her 14 years in the California State Assembly, where she rose to the position of Democratic Caucus Chair, Waters was responsible for such legislation as the largest divestment of state pension funds from South Africa, "landmark" affirmative action legislation, and the introduction of the nation’s first plant closure law.

Waters entered Congress in 1991 and soon became a member of the far left Congressional Progressive Caucus.


Waters has also been a prominent anti War activist and has chaired the Out of Iraq Caucus.

Through her early days in Congress, Waters maintained close ties to her Party friends.

In May 1992 the Party newspaper Peoples Weekly World published a May Day supplement which included a call to "support our continuing struggle for justice and dignity" Endorsers of the call included "Congresswoman Maxine Waters, California."

In October 1992, Maxine Waters was keynote speaker at a Coalition of Black Trade Unionists meeting in her home town of St Louis Missouri . the Coalition, especially in Missouri, has long been heavily infiltrated by the Communist Party.

In June 1996 the Peoples Weekly World held a tribute event in Los Angeles for leftist unionists Jerry Acosta and Gil Cedillo

Presentations to the honorees were made by Clara James, chair of the Community Affairs Commission of the Second Baptist Church, on behalf of Maxine Waters and by Antonio Aguilar, on behalf of State Senator Hilda Solis - now Barack Obama's Secretary of Labor.

H.R. 950, the Job Creation and Infrastructure Restoration Act of 1997 was introduced in the 105th Congress on March 5, 1997 by Congressman Matthew Martinez of California. It had 33 original co-sponsors, all far left Democrats, including Maxine Waters.

Los Angeles Communist Party leader Evelina Alarcon was assigned by the Party to organize lobbying for the Bill. The Bill itself originated from two party front groups, the Los Angeles Labor Coalition for Public Works Jobs and its only affiliate New York Coalition for Public Works Jobs

When Maxine Waters threatened to nationalize oil companies a while back, she called herself a "Liberal".

 

http://newzeal.blogspot.com/2010/10/maxine-waters-pro-communist-past.html

 

Yes, rally around Maxine.

 

http://thefinalphaseforum.invisionzone.com/index.php?showtopic=44

Tue, 01/04/2011 - 19:47 | Link to Comment Eric The Red
Eric The Red's picture

Maxine is totally right about this one.  We should rejoice when any one of these Teapublicrats gets anything right, instead of all pissing and moaning.

Tue, 01/04/2011 - 19:56 | Link to Comment HL Shancken
HL Shancken's picture

You're right. The government of the Weimar Republic is proving itself ineffectual and less and less capable of ruling, and that's why Adolph Hitler and the Nazi Party should be listened to, and we should rejoice when they get anything right.

Tue, 01/04/2011 - 20:01 | Link to Comment HL Shancken
HL Shancken's picture

You're right. The government of the Tsar is proving itself ineffectual and less and less capable of ruling, and that's why V.I. Lenin and his Bolshevik Party should be listened to, and we should rejoice when they get something right.

Tue, 01/04/2011 - 20:05 | Link to Comment nmewn
nmewn's picture

Drop her a line and tell her to have her ole man give back the money he stole from the taxpayer at OneUnited Bank...see what she tells you to do with your morality.

You will be routed through Bwaney Fwanks office though...say hi to him for me and give my love to his boyfriend at FNM.

 

Tue, 01/04/2011 - 19:55 | Link to Comment SRV - ES339
SRV - ES339's picture

Earth to racist bigots... you need to spend more time on C-Span... believe it or not, there are more than enough inarticulate non N-word members of congress.

Can't we all just spread the hate around a bit people!

Tue, 01/04/2011 - 20:08 | Link to Comment nmewn
nmewn's picture

I'm not racist...I hate most white people.

Tue, 01/04/2011 - 20:10 | Link to Comment liberal sodomy
liberal sodomy's picture

Shouldn't you two be out tearing up a mall somewhere?

Tue, 01/04/2011 - 20:17 | Link to Comment nmewn
nmewn's picture

Fuck you nazi.

Wed, 01/05/2011 - 04:45 | Link to Comment Confused
Confused's picture

You are tainting the collective unconsciousness. 

Tue, 01/04/2011 - 20:17 | Link to Comment vote_libertaria...
vote_libertarian_party's picture

Sure she's outraged....but is she going to DO anything about? 

 

Float a bill that says BAC pays all of the losses.  They signed a contract.  Liquidate until you die.

Tue, 01/04/2011 - 20:21 | Link to Comment HL Shancken
HL Shancken's picture

"...According to Kalashnikov, talk about various bodies in Russia doing this or that is nonsense. It is all a deception. There is one class, working as one vast criminal enterprise, holding down the entire society. "And being so rich," added Kalashnikov, "and having no serious challenges within the country, they are still well aware that the only way to place the stolen wealth properly would be to deposit this wealth in Western banks, in Europe, in Cyprus, in Switzerland, and elsewhere; because they know the source of this wealth is questionable. They understand that this money could be taken away from them at any time. So they are eager to launder this money in the West. For this purpose, they need close cooperation with Western banks and institutions to legalize their money. That's what they need, therefore, they naturally cultivate closer links with Western governments and businesses. They also realize that the Western banking authorities will be tempted to look deeper into the origin of all this money. So, in order to make the West more cooperative, the Russian nomenklatura needs to be properly armed, and be aggressive at the proper level. They always put the West on the horns of a dilemma. Will it be confrontation or cooperation? If cooperation, then you abolish visa requirements for elite Russians, you abolish certain legal obstacles when it comes to investing Russian money in the West. Let us cooperate, they propose. If not, you may have some trouble in military terms. So, Russia may become unpredictable and aggressive. It is a soft blackmailing of you."

There is another side of this blackmail which Kalashnikov didn't mention. When Western politicians and businessmen get tangled up with Russia's mafia elite, they enter into a partnership from which they cannot easily extricate themselves. Western bankers who have laundered Russian money are now part of the Russian mafia's scheme. They have purchased the infamous one-way ticket. They cannot go back. They cannot get out. It is too late. Now they must follow along, and the Russian criminal machine colonizes the unsuspecting Western capitalist. The ultimate exploitation of this process may not be far to find. As the criminal system advances, the leaders of the West must keep silent; for they were the first to advocate "engagement" with the Russians. How can they publicly admit that they have been drawn in, swindled, and tainted?..."

 

http://www.financialsense.com/contributors/jr-nyquist/thoughts-on-the-te...

 

Maxine Waters is on the outside, though she thinks she's on the inside. The Russian communists refer to people of her skin color as "lumpen." Her race is referred to by them as the "lumpen proletariat." They don't intend to let it survive. Then again, they don't intend to let many of us survive, if adherence to Clauswitz is kept. Waters is useful as are all domestic communists in keeping up the drumbeat of anti-capitalism, of participating in the process of the discrediting of of capitalism. They are ideologues easily led.

 

http://thefinalphaseforum.invisionzone.com/index.php?showtopic=44

 

 

 

Tue, 01/04/2011 - 20:36 | Link to Comment Atomizer
Atomizer's picture

mynhair, you beat me in posting that video.

Sounds like Maxine has just gone down on her knees to fluff the public. Methinks, she didn't receive a promised favor in exchange for her vote.

Fannie Mae Disaster

A collection of video clips from various sources clearly displaying the role that the Democratic Leadership played in the destruction of America's financial system. See testimony to this fact by Bill Clinton and clear evidence that Barney Frank, Maxine Waters and Charles Schumer, among others, should be in jail today!

http://www.youtube.com/watch?v=-48RA304IBk

Tue, 01/04/2011 - 23:49 | Link to Comment ThePhysicist
ThePhysicist's picture

They should be held in jail until they are hung from the gallows.

 

Tue, 01/04/2011 - 20:44 | Link to Comment Bringin It
Bringin It's picture

The government by Mafia Cappos evolves unchecked.  This is the same way Toni S. gets the job done in NJ.

http://www.guardian.co.uk/world/2011/jan/04/body-john-wheeler-delaware

 

Check out what happened to William Colby.  It's dangerous being in the Mob.

 

 

Tue, 01/04/2011 - 20:56 | Link to Comment Buttcathead
Buttcathead's picture

B of A should be a penny stock or just like LEH.

Tue, 01/04/2011 - 21:10 | Link to Comment Instant Karma
Instant Karma's picture

The way I see it the entire three trillion dollar Federal Buget is a taxpayer giveaway.

Tue, 01/04/2011 - 22:03 | Link to Comment Mad Mad Woman
Mad Mad Woman's picture

Does anyone have a link for that Forbes article as mentioned in this post?

Tue, 01/04/2011 - 22:13 | Link to Comment penisouraus erecti
penisouraus erecti's picture

Stopped clocks are right twice a day, and she's about as close to a stopped clock as there is.

Tue, 01/04/2011 - 22:35 | Link to Comment gwar5
gwar5's picture

And Maxine "marx" Waters knows about taxpayer give aways, having snagged some TARP booty for herself and her little bank that could in CA.

Tue, 01/04/2011 - 23:01 | Link to Comment sayno2fat
sayno2fat's picture

Is this the same person who sucked up to Roger Clemens????  If so, they both belong behind bars.  Though, she has also called out the Squid if I recall correctly.  So, she has two + and God knows how many -

Tue, 01/04/2011 - 23:18 | Link to Comment dcb
dcb's picture

God the looney tune bunch is out in force tonight. It's a fox news free for all where people who can't think just like sprouting right wing propaganda. that darn socialism, gutted the middle class, lowered wages across the board, caused the financial crisis, got us into two endless wars, got us addicted on foreign oil, caused all the environmental problems. we'd be so much better off without environmental agencies, overpriced poor healthcare based on "real" metrics, etc. Yep all the fault of socialism.

don't you idiots realize you've been trained to bark like a dog by the corporate facists to say that because otherwise they couldn't rip you off for billions. folks like the koch brothers who thanks to that socialist supreme court can coporationscan legally buy our democracy. The founding fathers (those socialist bastards) would be rolling in their graves is they could see what corporate facist influence has done to their democratic republic. thos bastard socialists and their domestic spy agencies, jail without trial. did you know it is a felony to say that a declared terrist organization isn't one. next ZH will be declared one, soon wikki, anything that gets in the way of that socialist propaganda. UGH

those german socialist bastards, merkel actually wanting to make bondholders take haircuts, those bastards for having a functioning economy, and rather balanced budget. those bastards.

 

dude, you need to learn our capitialists, are capitialists, this is crony capitialism. endless bailouts by the fed for the favored banksters, isn't capitialism. it is much more like russian capitialism in the US. banking industries that are broke with ceo's that make millions while runing their country and company. that is us styple capitialism, which isn't capitialism. why do you think this country is in a shit hole. becuase all of our resources are going to the "capitialists" while evenone else gets poorer. why are emerging markets surging. they are building a middle class and spreaading and expanding wealth. we are gutting our and the united states future.

 

Tue, 01/04/2011 - 23:20 | Link to Comment onlooker
onlooker's picture

Payoff time

Tue, 01/04/2011 - 23:48 | Link to Comment Richard Whitney
Richard Whitney's picture

MiguelitoRaton stuck the landing at 20:04; even the East German judges give him a '10'.

Maxine Waters is a mephitic erinaceous baksheesh-tart.

Wed, 01/05/2011 - 12:55 | Link to Comment The Alarmist
The Alarmist's picture

So it is a giveaway if you or your loved ones don't have a piece of the action.  Just rich.

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