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A Patriot's Day Call To Arms
Submitted by Dylan Ratigan
This letter is a call to (electronic) arms on Patriots' Day.
Mr. President, please show the American people the AIG emails.
In the wake of the disclosures associated with Friday's government
fraud accusations against Goldman, Sachs & Co., one of our nation's wealthiest, largest and most politically well-connected banks,
it is inexcusable the U.S. government still refuses to release the
thousands of emails that exist between AIG and Goldman Sachs.
Unlike the Icelandic volcano, this was no natural disaster. Trillions of dollars have been defrauded from the U.S. taxpayer by a banking scam run by the top 1% of our country.
The mark for this con game has been and continues to be every
teacher, cop, firefighter, nurse, conservative saver, small investor,
student and retiree. People whose pensions, homes, jobs and monthly
retirement stipends have been and continue to be deprived -- so these people can use our government to transfer money from your work to themselves.
We also know that the same people responsible for this failed system are STILL RUNNING IT, leaving obvious conflicts of interest everywhere you turn.
But the American people still have one tremendous ally in not letting them get away with the fraud -- a SEC law that forces these companies to keep records of all of their communications coupled with the most sophisticated, extraordinary ability to use 21st century technology to quickly harvest relevant information out of billions of pieces of data.
And even by barely scratching the surface, this is what we already find:
A Goldman Sachs vice president accused of fraud, writing "more and more leverage in the system, The whole building is about to collapse anytime now..."
An S&P ratings agent saying "Let's hope we are all wealthy and retired by the time this house of cards falters."
Our government is in a position to grant access to a vast pool of
information that could answer so many questions about why all our money
was taken. But flush with money from these potentially fraudulent institutions, politicians have systematically gutted the very people charged with investigating these crimes.
As a final insult, they provide 23.7 trillion in direct and implied support for these bankers to keep bonusing themselves billions, yet offer a paltry 0.0000003% of that amount to investigate how this incredibly un-American event happened in the first place.
To add insult to injury, we the people now OWN
the company at the center of much of the alleged fraud. Currently, you,
the U.S. taxpayer, own 80 percent of AIG and there are now 5 people who represent us as trustees at the company.
Please Mr. President,
Show the American people the AIG emails. Many are suffering, our young are without work, our middle class is stuck in houses they can't sell,
making it impossible to move to new jobs for the future of our country,
and our retirees who, at their most vulnerable, find the custodians of
their life savings as either crooks or suckers for the bankster scams.
As our president, you are in charge of AIG. That means that without
even a court order, the American people can see every email and it is
long past due for you to release those 10 years of AIG emails to the people.
Today, in honor of our ongoing fight against tyranny, let's send a plea to all our elected officials, Treasury Secretary and president to fulfill their custodial obligation to those they represent and show the American people the AIG emails.
And just to prove a point, look into your old email files
and find some innocuous email from the past 10 years to attach to the
bottom... perhaps if we show them ours, they will show us theirs.
Here is how to do it:
Your Representative http://www.house.gov/
Your Senator http://www.senate.gov/general/contact_information/senators_cfm.cfm
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You're making Bernanke nervous...
Hear Hear!
Dylan works for GE, his job is to drum up anger so Obama can impose his solutions instead of the draconian solutions needed under a pure Volcker rule.
Got it, Dylan. Americans should ask government to root out corruption. Similarly, Europeans should ask volcano to stop spewing ash; Africans should ask leopards to change their spots.
+100
Good one.
Couldn't have said it better.
Yeah, let's go to the local Don and ask him to do something about all the mob violence.
Wow, what just happened? Big pump in volume on GS and it moved up quickly.
We all know that algo's are the real patriot's.
Plus Tyler is long a metric ass ton of ZH dow 36,000 hats.
Finally mutual fund Monday.....must make it 18/19 (can't remember) out of last 20 Monday's.
Please stop responding to the troll.
done
Trolls have rights, too.
nobody likes you . Go away. Pass like gas.
I love him, but he sounds if the thinks the mafia is going to open their books without a court order he is fooling himself. it should be called what it is: a criminial conspiracy government cover up.
you think geithner and bernanke are going to turn thmselves in. no
he;; they made the mafia don (dudley) the head of the ny fed so the guy running the operation can keep the stuff buried!!!
"You just don't understand. Just because the US Government has controlling interest in AIG doesn't mean they can make management decisions like releasing AIG emails.
Don't you get it? According to this "smart guy" I know, controlling interest merely means I need to keep using taxpayer money to make good on AIG payments to Goldman Sachs and most of Europe."
--Obama
"Wall Street always has the option to treat any Government group as if it were Corporate, or vice versa, when Wall Street makes or aids an attack."
http://cid-9f33f6e14912f497.skydrive.live.com/self.aspx/Illuminati%20NWO%20card%20game/wallstreet.png
why do I have to say please to my servant?
because you are a very kind master and values your freedom
Because he's the cook... and you don't want your food to taste funny.
Shhh.. Cause he's trained the dogs and has the big guns.
Go Dylan, Go!
Careful using subversive and seditious terms like "patriot."
Meanwhile as Zero Hedge, Ratigan etc lead the charge, over at Business Insider , Henry Blodget is offering autographed copies of Maria Bartiromo"s new book and he is serious. .
http://www.businessinsider.com/win-a-signed-copy-of-maria-bartiromos-new...
Yes Mr. President could you please keep us entertained with exciting narratives about what happened three years ago because not only is this great drama but it's also very important. I mean, lots of us had real estate dreams, American dreams Mr. President and now....well some of those dreams look like they're going to involve a bit more work. [anyone want to buy a mostly finished, mostly real particle board 'manor'?...lots of sq ft.!!]
http://farm2.static.flickr.com/1181/1038394129_fdaeb72c1a.jpg
Anyway, there's nothing much happening now right? You guys seem to have all that tax and money stuff under control...so...we can probably just put the country on autopilot while we take a look back at this doncha think?
Think of the HBO miniseries Mr. President!
thanx dylan, that should clear things up.
Done. e-mail sent.
Anybody know who's winning on American Idol?
Smart money is all over Crystal Bowersox but I think it is going to come down to that short raspy-voiced dude and the blonde country guitar picker, Casey.
That dude can pick, too. He just might win it all.
Simon.........
Thank you Mr. Ratigan. Well said.
As for you Mr. President, how about you know, leading?
You don't still believe in Presidents, do you?
Goldman defrauded the Fed in 2008 with AIG and also in 1998 with LTCM's Fed bailout as a result of it's short bet against its own toxic Russian bonds sold to LTCM (which were as criminally negligent as subprime loans). It was just a reprise of the same trick which it found so lucrative before. It has since repeated the magic in many ways (see Abacus, Greek government dealings etc..).
Meg Whitman has so far spent $40 million of her own money to campaign for governor of California. The prohibitive cost of political campaigns in the US explains the emergence of "billionaire politicians" (Bloomberg, Corzine etc). But it also means that politicians of more modest means (just millionaires) must turn to the big money boyz for support in order to stand any chance of winning. That's why you are seeing the rise and rise of Wall Street influence in Washington and even in state capitals. They pretty much have a lock. Obama needed $750 million to win. He needs to fat boyz.
Emails to Obama are limited to 2,500 characters. Oh well :-(
In a day right? I sent him one, so now he can only get 2499 more today.
...rally round the beltway, with a pocket full of emails?
Request from Bernie Madoff to Ben and Timmy.
Please bring ky jelly when you come.
Pleeeeease......
Several Congressman are beginning chorus of "Goldman's fine should be to return the $12.9 billion that they got backdoor in the AIG bailout".... (as Madhouse has been saying since Saturday)
Welch calls on Goldman Sachs to return AIG funds to taxpayers before awarding bonuses October 28, 2009Rep. Peter Welch called on Goldman Sachs Wednesday to repay taxpayers the $12.9 billion it received through American International Group (AIG) before it awards bonuses to employees this year.
Welch sounded the call during a Committee on Oversight and Government Reform hearing featuring Kenneth Feinberg, the Special Master for Troubled Asset Relief Program (TARP) Executive Compensation. Welch also wrote Goldman CEO Lloyd Blankfein on Wednesday expressing indignation that the firm would award $23 billion in bonuses subsidized with taxpayer money.
“The point of the bailout was to avert the collapse of the financial system, not to advantage any individual firm,” Welch and several other House members wrote in the letter to Blankfein. “Now that Goldman is again prospering, we ask the question: Should taxpayers be repaid the $12.9 billion before bonuses are distributed to Goldman employees? We believe they should.
While Goldman Sachs has since paid back the $10 billion it received in direct TARP assistance, it benefited from several other forms of emergency government support. Chief among them was the $12.9 billion in counterparty payments AIG paid Goldman using $170 billion in bailout funds.
In his letter and testimony, Welch argued that Goldman’s return to record profits would not have been possible without taxpayer support – and that Goldman’s employees ought not to be the only ones reaping the benefits.
“Goldman Sachs is good at what it does, but its profits this year, as we know, were supplemented by the generous financial support of American taxpayers,” Welch wrote.
Copied below is Welch’s letter to Blankfein.
Welch calls on Goldman Sachs to return AIG funds to taxpayers before awarding bonuses October 28, 2009Rep. Peter Welch called on Goldman Sachs Wednesday to repay taxpayers the $12.9 billion it received through American International Group (AIG) before it awards bonuses to employees this year.
Welch sounded the call during a Committee on Oversight and Government Reform hearing featuring Kenneth Feinberg, the Special Master for Troubled Asset Relief Program (TARP) Executive Compensation. Welch also wrote Goldman CEO Lloyd Blankfein on Wednesday expressing indignation that the firm would award $23 billion in bonuses subsidized with taxpayer money.
“The point of the bailout was to avert the collapse of the financial system, not to advantage any individual firm,” Welch and several other House members wrote in the letter to Blankfein. “Now that Goldman is again prospering, we ask the question: Should taxpayers be repaid the $12.9 billion before bonuses are distributed to Goldman employees? We believe they should.
While Goldman Sachs has since paid back the $10 billion it received in direct TARP assistance, it benefited from several other forms of emergency government support. Chief among them was the $12.9 billion in counterparty payments AIG paid Goldman using $170 billion in bailout funds.
In his letter and testimony, Welch argued that Goldman’s return to record profits would not have been possible without taxpayer support – and that Goldman’s employees ought not to be the only ones reaping the benefits.
“Goldman Sachs is good at what it does, but its profits this year, as we know, were supplemented by the generous financial support of American taxpayers,” Welch wrote.
Copied below is Welch’s letter to Blankfein.
http://www.welch.house.gov/index.php?option=com_content&task=view&id=690&Itemid=32
Had AIG collapsed, Goldman would have lost it all. That was counterparty risk they had hanging out there and yet they got 100% on the dollar, then quickly paid it out in bonuses. Payback of this amount would boost confidence of justice in the system and be good for the economy, Wall Street and good for American reputation.
Sing it..
Welch calls on Goldman Sachs to return AIG funds to taxpayers before awarding bonuses October 28, 2009Rep. Peter Welch called on Goldman Sachs Wednesday to repay taxpayers the $12.9 billion it received through American International Group (AIG) before it awards bonuses to employees this year.
Welch sounded the call during a Committee on Oversight and Government Reform hearing featuring Kenneth Feinberg, the Special Master for Troubled Asset Relief Program (TARP) Executive Compensation. Welch also wrote Goldman CEO Lloyd Blankfein on Wednesday expressing indignation that the firm would award $23 billion in bonuses subsidized with taxpayer money.
“The point of the bailout was to avert the collapse of the financial system, not to advantage any individual firm,” Welch and several other House members wrote in the letter to Blankfein. “Now that Goldman is again prospering, we ask the question: Should taxpayers be repaid the $12.9 billion before bonuses are distributed to Goldman employees? We believe they should.
While Goldman Sachs has since paid back the $10 billion it received in direct TARP assistance, it benefited from several other forms of emergency government support. Chief among them was the $12.9 billion in counterparty payments AIG paid Goldman using $170 billion in bailout funds.
In his letter and testimony, Welch argued that Goldman’s return to record profits would not have been possible without taxpayer support – and that Goldman’s employees ought not to be the only ones reaping the benefits.
“Goldman Sachs is good at what it does, but its profits this year, as we know, were supplemented by the generous financial support of American taxpayers,” Welch wrote.
Copied below is Welch’s letter to Blankfein.
Welch calls on Goldman Sachs to return AIG funds to taxpayers before awarding bonuses October 28, 2009Rep. Peter Welch called on Goldman Sachs Wednesday to repay taxpayers the $12.9 billion it received through American International Group (AIG) before it awards bonuses to employees this year.
Welch sounded the call during a Committee on Oversight and Government Reform hearing featuring Kenneth Feinberg, the Special Master for Troubled Asset Relief Program (TARP) Executive Compensation. Welch also wrote Goldman CEO Lloyd Blankfein on Wednesday expressing indignation that the firm would award $23 billion in bonuses subsidized with taxpayer money.
“The point of the bailout was to avert the collapse of the financial system, not to advantage any individual firm,” Welch and several other House members wrote in the letter to Blankfein. “Now that Goldman is again prospering, we ask the question: Should taxpayers be repaid the $12.9 billion before bonuses are distributed to Goldman employees? We believe they should.
While Goldman Sachs has since paid back the $10 billion it received in direct TARP assistance, it benefited from several other forms of emergency government support. Chief among them was the $12.9 billion in counterparty payments AIG paid Goldman using $170 billion in bailout funds.
In his letter and testimony, Welch argued that Goldman’s return to record profits would not have been possible without taxpayer support – and that Goldman’s employees ought not to be the only ones reaping the benefits.
“Goldman Sachs is good at what it does, but its profits this year, as we know, were supplemented by the generous financial support of American taxpayers,” Welch wrote.
Copied below is Welch’s letter to Blankfein.
Welch calls on Goldman Sachs to return AIG funds to taxpayers before awarding bonuses October 28, 2009Rep. Peter Welch called on Goldman Sachs Wednesday to repay taxpayers the $12.9 billion it received through American International Group (AIG) before it awards bonuses to employees this year.
Welch sounded the call during a Committee on Oversight and Government Reform hearing featuring Kenneth Feinberg, the Special Master for Troubled Asset Relief Program (TARP) Executive Compensation. Welch also wrote Goldman CEO Lloyd Blankfein on Wednesday expressing indignation that the firm would award $23 billion in bonuses subsidized with taxpayer money.
“The point of the bailout was to avert the collapse of the financial system, not to advantage any individual firm,” Welch and several other House members wrote in the letter to Blankfein. “Now that Goldman is again prospering, we ask the question: Should taxpayers be repaid the $12.9 billion before bonuses are distributed to Goldman employees? We believe they should.
While Goldman Sachs has since paid back the $10 billion it received in direct TARP assistance, it benefited from several other forms of emergency government support. Chief among them was the $12.9 billion in counterparty payments AIG paid Goldman using $170 billion in bailout funds.
In his letter and testimony, Welch argued that Goldman’s return to record profits would not have been possible without taxpayer support – and that Goldman’s employees ought not to be the only ones reaping the benefits.
“Goldman Sachs is good at what it does, but its profits this year, as we know, were supplemented by the generous financial support of American taxpayers,” Welch wrote.
Copied below is Welch’s letter to Blankfein.
You have a bad case of pastitis, my friend.
Seek therapy.
I could use a pastis.
or an absinthe
We don't need no stinkin' badges...
We may have to do a Million Man March kind of thing to get attention.
everyone wearing a knockoff ManU jersey
happened last september...no one in DC cared
Dylan, I'd hire a food taster if I were you.
Nice letter though. Good luck with that.
+1