Wall Street's Taxpayer Funded Bail-Out Scam Will Help PAY for Obama Inauguration...

Submitted by SadInAmerica on Sun, 01/18/2009 - 10:19pm.

President-elect Barack Obama has spoken a lot about setting a new standard for ethics and transparency, and he issued an edict that his inaugural committee would bar contributions from corporations, political action committees, lobbyists, labor unions and foreigners.

But as always seems to happen, big financial interests find a way to weigh in with a pile of cash.

The watchdog group Public Citizen says nearly 80 percent of the $35.3 million raised by the Presidential Inaugural Committee to date has come from 211 wealthy donors, including a number from Wall Street firms benefiting from the mushrooming federal bailout.

Louis Sussman, vice chairman of Citigroup Corporate and Investment Banking, is among at least 32 fundraisers, known as "bundlers" who have raised $300,000 — the maximum allowed by the inaugural committee. Sussman ponied up the maximum, $50,000 in an individual donation. Citigroup, now attempting to survive by downsizing, has already received $25 billion in bailout money, the most of any bank.

In addition, the watchdog group notes, that:

-- Senior executive Mark Gilbert of Lehman Brothers, which got some federal assistance but collapsed before the $700 billion bailout was approved, raised $185,000.

-- Chairman Robert Wolf of UBS Americas raised $100,000.

-- Jennifer Scully, vice president for private wealth management at Goldman Sachs, raised $100,000.

-- Bruce Heyman, managing director of Goldman's Private Wealth Management Group's Midwest Region, came up with $50,000.

-- Kobi Brinson, senior vice president and assistant general counsel for Wachovia (recently merged with Wells Fargo), raised $35,000.

Also among the bundlers are executives of hedge funds and private equity funds that have invested in some of the ailing Wall Street giants.

David Arkush, director of Public Citizen's Congress Watch, says "it's no wonder that Wall Street is pouring so much money into this inauguration. The executive branch has given bailouts worth trillions of dollars to Wall Street firms and is considering trillions more. Wall Street has a lot at stake."

Greg Gordon - January 14, 2009 - source McClatchy

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Submitted by SadInAmerica on Sun, 01/18/2009 - 10:19pm.


MC Shalom (not verified) | Mon, 01/19/2009 - 2:49am

They Bail Out, We Opt Out.

All of Our Economic Problems Find They Root in the Existence of Credit.

Out of the $5,000,000,000,000 bail out money for the banks, that is $1,000 for every inhabitant of this planet, what is it exactly that WE, The People, got?

Credit is Mathematically Inept, Morally Unacceptable.

If Your Bank Doesn't Pay Back Its Credits, Why Should You Pay Yours? Or Else ...

Why Do the Banks Get 0% Loans and we Don't?

They Bail Out, We Opt Out

Opting Out Is Completely Anonymous.

The Credit Free, Free Market Economy

Is Both Dynamic on the Short Run & Stable on the Long Run, The Only Available Short Run Solution.

I Propose, Hence, to Lead for You an Exit Out of Credit:

Let me outline for you my proposed strategy:

Preserve Your Belongings.

The Property Title: Opt Out of Credit.

The Credit Free Money: The Dinar-Shekel AKA The DaSh, Symbol: - .

Asset Transfer: The Right Grant Operation.

A Specific Application of Employment Interest and Money.
[A Tract Intended For my Fellows Economists].

If Risk Free Interest Rates Are at 0.00% Doesn't That Mean That Credit is Worthless?

Since credit based currencies are managed by setting interest rates, on which all control has been lost, are they managed anymore?

We Need, Hence, Cancel All Interest Bearing Debt and Abolish Interest Bearing Credit.

In This Age of Turbulence The People Wants an Exit Out of Credit: An Adventure in a New World Economic Order.

The other option would be to wait till most of the productive assets of the economy get physically destroyed either by war or by rust.

It will be either awfully deadly or dramatically long.

A price none of us can afford to pay.

“The current crisis can be overcome only by developing a sense of common purpose. The alternative to a new international order is chaos.”

- Henry A. Kissinger

They Bail Out, Let's Opt Out!

If You Don't Opt Out Now, Then When?

Let me provide you with a link to my press release for my open letter to Chairman Ben S. Bernanke:

Chairman Ben S. Bernanke, Quantitative [Ooops! I Meant Credit] Easing Can't Work!

Yours Sincerely,

Shalom P. Hamou AKA 'MC Shalom'
Chief Economist - Master Conductor
1 7 7 6 - Annuit Cœptis
Tel: +972 54 441-7640

Ted (not verified) | Mon, 01/19/2009 - 1:38am

The question is not IF there will be an interdiction of Obama’s Presidency by the Supreme Court, the questions are WHEN and HOW that interdiction will transpire — that is, if the USA is to continue as the Constitutional Republic that now exists.