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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Raymondo on August 14, 2012, 09:42:03 AM
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Vice-presidential candidate denies he profited from a 2008 meeting with Fed chairman in which officials outlined fears for financial crisis
(http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2011/7/29/1311940232803/Paul-Ryan-US-House-of-Rep-007.jpg)
Paul Ryan, Mitt Romney's vice-presidential running mate, sold stock in US banks on the same day he attended a confidential meeting where top level officials disclosed the sector was heading for a deep crisis.
The congressman on Monday denied profiting from information gleaned from the meeting on 18 September 2008 when Federal Reserve chairman Ben Bernanke, then treasury secretary Hank Paulson and others outlined their fears for the banking sector. His office said he had no control over the trades.
Public records show that on the same day as the meeting, Ryan sold stock in troubled banks including Wachovia and Citigroup and bought shares in Goldman Sachs, Paulson's old employer and a bank that had been disclosed to be stronger than many of its rivals. The sale was not illegal at the time.
Not long after the meeting, Wachovia's already troubled share price went into free fall. It plunged 39% on the afternoon of 26 September alone as investors worried the bank would collapse. It was eventually taken over by Wells Fargo for $15bn, a fraction of its former value.
Citigroup's share price fell soon after the meeting. In October 2008 Citigroup was among the largest beneficiary of the troubled asset relief program (Tarp), the taxpayer-funded bailout of the banking sector.
Ryan was a supporter of the Tarp bailout – a position that has put him at odds with the right wing of his party despite his otherwise conservative credentials. Goldman Sachs and Wells Fargo are now among his largest financial supporters, according to the Center for Responsive Politics.
The trades were highlighted at the weekend by the Richmonder, a left-leaning political blog in Virginia.
After the story was picked up by the media on Monday, the Romney campaign moved to deny it. Talking Points Memo quoted Larry Gaffney, an independent accountant for the partnership that handled the trades questioned by commentators, said the shares were not controlled by Ryan.
"Trades are done automatically based on an algorithm on a regular basis," said Gaffney, in a statement to TPM that was provided by the Romney campaign. "In addition, this index was held at the time within a partnership in which Rep. Ryan had and continues to have no trading authority."
Until this year members of Congress were allowed to trade on price-sensitive information gathered at Washington meetings. Nor is Ryan alone in having done so. CBS's 60 Minutes criticised Democrat Nancy Pelosi for buying into Visa's initial public offering as the House discussed credit card legislation.
After the CBS documentary, pressure mounted for change. In April, Barack Obama signed legislation that bars members of Congress and other federal workers from profiting from non-public information learned on the job. As well as banning insider trading the Stop Trading on Congressional Knowledge (Stock) Act requires members of Congress to post details of transactions exceeding $1,000.
In April the Office of Congressional Ethics cleared Spencer Bachus, Republican chairman of the House Financial Services Committee, of allegations of insider dealing. Critics had charged he had taken advantage of insider information to trade shares on numerous occasions.
Bachus was present at the meeting that Ryan attended with Bernanke and Paulson. The next day he traded "short" options, betting on a decline in share prices in the financial services sector.
Attendees at the meeting have said Bernanke and Paulson's warnings were met with stunned silence. "When you listened to him describe it you gulped," Senator Charles Schumer told the New York Times.
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Definitely not a man of the people. Just more bullshit.
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Vice-presidential candidate denies he profited from a 2008 meeting with Fed chairman in which officials outlined fears for financial crisis
(http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2011/7/29/1311940232803/Paul-Ryan-US-House-of-Rep-007.jpg)
Paul Ryan, Mitt Romney's vice-presidential running mate, sold stock in US banks on the same day he attended a confidential meeting where top level officials disclosed the sector was heading for a deep crisis.
The congressman on Monday denied profiting from information gleaned from the meeting on 18 September 2008 when Federal Reserve chairman Ben Bernanke, then treasury secretary Hank Paulson and others outlined their fears for the banking sector. His office said he had no control over the trades.
Public records show that on the same day as the meeting, Ryan sold stock in troubled banks including Wachovia and Citigroup and bought shares in Goldman Sachs, Paulson's old employer and a bank that had been disclosed to be stronger than many of its rivals. The sale was not illegal at the time.
Not long after the meeting, Wachovia's already troubled share price went into free fall. It plunged 39% on the afternoon of 26 September alone as investors worried the bank would collapse. It was eventually taken over by Wells Fargo for $15bn, a fraction of its former value.
Citigroup's share price fell soon after the meeting. In October 2008 Citigroup was among the largest beneficiary of the troubled asset relief program (Tarp), the taxpayer-funded bailout of the banking sector.
Ryan was a supporter of the Tarp bailout – a position that has put him at odds with the right wing of his party despite his otherwise conservative credentials. Goldman Sachs and Wells Fargo are now among his largest financial supporters, according to the Center for Responsive Politics.
The trades were highlighted at the weekend by the Richmonder, a left-leaning political blog in Virginia.
After the story was picked up by the media on Monday, the Romney campaign moved to deny it. Talking Points Memo quoted Larry Gaffney, an independent accountant for the partnership that handled the trades questioned by commentators, said the shares were not controlled by Ryan.
"Trades are done automatically based on an algorithm on a regular basis," said Gaffney, in a statement to TPM that was provided by the Romney campaign. "In addition, this index was held at the time within a partnership in which Rep. Ryan had and continues to have no trading authority."
Until this year members of Congress were allowed to trade on price-sensitive information gathered at Washington meetings. Nor is Ryan alone in having done so. CBS's 60 Minutes criticised Democrat Nancy Pelosi for buying into Visa's initial public offering as the House discussed credit card legislation.
After the CBS documentary, pressure mounted for change. In April, Barack Obama signed legislation that bars members of Congress and other federal workers from profiting from non-public information learned on the job. As well as banning insider trading the Stop Trading on Congressional Knowledge (Stock) Act requires members of Congress to post details of transactions exceeding $1,000.
In April the Office of Congressional Ethics cleared Spencer Bachus, Republican chairman of the House Financial Services Committee, of allegations of insider dealing. Critics had charged he had taken advantage of insider information to trade shares on numerous occasions.
Bachus was present at the meeting that Ryan attended with Bernanke and Paulson. The next day he traded "short" options, betting on a decline in share prices in the financial services sector.
Attendees at the meeting have said Bernanke and Paulson's warnings were met with stunned silence. "When you listened to him describe it you gulped," Senator Charles Schumer told the New York Times.
??? guy reminds me of this guy. same look in his eye.
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Seriously??!
Have you educated yourself on the questionable transactions made by Nancy Pelosi, Harry Reid, Christopher Dodd, Barney Frank, and yes, even the savior himself, Barrack Obama??
(Let me know if not so I can)
It never ceases to amaze me how the left, inclusive of the media of course, must resort to personal and often unfounded tales, if not blatant lies, to smear the right. The sad truth is, this is because their record while in power doesn't have a proverbial leg to stand on. Or perhaps in simpler terms you might understand, Obama and the Dems have been complete and utter failures during their time at the helm.
All I can say is I hope you don't have children, because their futures aren't looking to bright if we continue down this road of absolute fiscal irresponsibility!
So please, bring on your blame Bush tactics one by one and what Obama has done for the betterment of the country, as I would relish the opportunity to rebuke each and every one!
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Location: UK ???
Is that a mistake Raymondo, or do actually live in the UK and not the US??
BTW, congrats on the Olympics!
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no, it's not a mistake, trojan horse
and what gives you the idea you can address me directly in the first place?
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Location: UK ???
Is that a mistake Raymondo, or do actually live in the UK and not the US??
BTW, congrats on the Olympics!
Raymondo is a concept.
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LOL!! First of all, I can address anyone I choose in a public forum...and after all, isn't that what you wanted when you expressed your opinion in the first place, or did you want to limit the responses to only those that agree with you??
Secondly, until you live under the leadership, or complete lack-there-of, of our current administration, your opinions are worthless!
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Kinda like Hilary Clinton making that sweet 100k through insightful stock trading. Rich people cheat the system. Nothing new, here.
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Kinda like Hilary Clinton making that sweet 100k through insightful stock trading. Rich people cheat the system. Nothing new, here.
This.
Pretty sure it was done through a legal loophole as well.
Wrong, probably, but not illegal.
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Only rich people...I think there is plenty of cheating occurring under the guise of welfare, medicaid, unemployment, social security, etc. Just sayin....
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Politics is completely rigged. Doesn't matter who you vote for, the same system stays in place. They want to make you believe you have a "choice" when in reality there is NO choice. Presidential candidates are hand picked, they always were. Don't vote. Politicians are all bought and paid for... ignore all of them.
Spend your precious time getting ready for the coming collapse and the next US revolution.
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Only rich people...I think there is plenty of cheating occurring under the guise of welfare, medicaid, unemployment, social security, etc. Just sayin....
Yup.
Everyone uses every loophole they can for more money. Nothing knew.
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Kinda like Hilary Clinton making that sweet 100k through insightful stock trading. Rich people cheat the system. Nothing new, here.
Except Martha Stewart........some dumb bitch has to be a scapegoat sooner or later.
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Except Martha Stewart........some dumb bitch has to be a scapegoat sooner or later.
Her Truffled Cream Puff recipe alone exonerates her of any wrong doing in my book.
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And by the way, since when has America become a society of envy and contempt towards the successful/wealthy?
All I know is I can't remember anyone I know ever being employed by a poor person...
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Her Truffled Cream Puff recipe alone exonerates her of any wrong doing in my book.
Off to Google "Truffled Cream Puff recipe"....... ;D
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Off to Google "Truffled Cream Puff recipe"....... ;D
perfect!! lol
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Vice-presidential candidate denies he profited from a 2008 meeting with Fed chairman in which officials outlined fears for financial crisis
PROBLEM.
It was perfectly legal for him to buy these stocks. At the time, this loophole was available, and a reason many in congress are filthy rich.
HOWEVER - LYING about it - that's some f'cked up stuff right there. Just admit "It was legal, and I made a trade to make profit". And move on.
Now, I'm aware that this very qualified person, very bright and conservative - is a bag of shit liar. Super.
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PROBLEM.
It was perfectly legal for him to buy these stocks. At the time, this loophole was available, and a reason many in congress are filthy rich.
HOWEVER - LYING about it - that's some f'cked up stuff right there. Just admit "It was legal, and I made a trade to make profit". And move on.
Now, I'm aware that this very qualified person, very bright and conservative - is a bag of shit liar. Super.
Oprah Winfrey is the devil....... ;D
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Trojan Homo sounds like the kind of guy who buys a metal detector and spends the first hour pulling gold soveriegn rings out of his rectum that were lost during past games of 'guess my organs'
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Politics is completely rigged. Doesn't matter who you vote for, the same system stays in place. They want to make you believe you have a "choice" when in reality there is NO choice. Presidential candidates are hand picked, they always were. Don't vote. Politicians are all bought and paid for... ignore all of them.
Spend your precious time getting ready for the coming collapse and the next US revolution.
This!!!!
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perfect!! lol
http://www.marthastewart.com/search/apachesolr_search/Cream%20puffs?filters=type_name%3ARecipe&clicktype=type_name
Fuckin' "A".....I've struck gold.
This might be better than my quest to lick booty's bunghole. ;D
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Trojan Homo sounds like the kind of guy who buys a metal detector and spends the first hour pulling gold soveriegn rings out of his rectum that were lost during past games of 'guess my organs'
WOW!!! All I can say is you win!! That is the most intelligent comment I've heard all day....
BTW, completely secure in my sexuality, as are my wife and kids, but comments like yous lead me to believe there is more that lies beneath the surface in your case...as my 10 year olds often say, he who "smellt" it dealt it! LOL!!!!
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oh, here we go again...........
Too much fucking information.
We had to know that Romney cut some kid's hair.
Now we need to know that Ryan sold some bank stocks.
I guess we'll keep the Indonisian/Kenyan to destroy our economy. At least we'll feel good about ourselves while he takes us all to the cleaners.
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Trojan Homo sounds like the kind of guy who buys a metal detector and spends the first hour pulling gold soveriegn rings out of his rectum that were lost during past games of 'guess my organs'
Haha, BigCyp are you implying Trojan Fruit is the kind of guy who walks around half-naked at 3 am in the morning wearing a fluorescent sandwich board that says: "I SUCK COCK FOR ROMNEY" ??
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oh, here we go again...........
Too much fucking information.
We had to know that Romney cut some kid's hair.
Now we need to know that Ryan sold some bank stocks.
I guess we'll keep the Indonisian/Kenyan to destroy our economy. At least we'll feel good about ourselves while he takes us all to the cleaners.
Black people will start naming their chillens "Solyndra" as a monument to his great successes......
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He seemed like an OK guy in that Spielberg movie.
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He seemed like an OK guy in that Spielberg movie.
Lol.
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As I said in the beginning, the "left's" only way of arguing is to personally attack the opposition, as displayed by our Mensa Member's comments above!
Way to go guys, your brilliant statement are duly noted...
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As I said in the beginning, the "left's" only way of arguing is to personally attack the opposition, as displayed by our Mensa Member's comments above!
Way to go guys, your brilliant statement are duly noted...
Take your 13 fucking posts and fuck the fuck off back to MattC's board ya gimmick kunt..... ;D
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Take your 13 fucking posts and fuck the fuck off back to MattC's board ya gimmick kunt..... ;D
Help me out, where's the gimmickry??
And so sorry that I haven't earned my "board cred" by spending all day commenting on getbig as opposed to actually being productive...no offense.
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Help me out, where's the gimmickry??
And so sorry that I haven't earned my "board cred" by spending all day commenting on getbig as opposed to actually being productive...no offense.
No offense taken.......now kindly fuck off. ;D
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No offense taken.......now kindly fuck off. ;D
But I'm still waiting on the clarification regarding gimmickry....
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But I'm still waiting on the clarification regarding gimmickry....
Nobody owes you a clarification, cuntface
Fuck off, you're not wanted here.
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Noone owns you any clarification, cuntface
Fuck off, you're not wanted here.
NO, now let's be honest Raymondo, it's those whose opinions I don't agree with and comment on accordingly who don't want me here.
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But I'm still waiting on the clarification regarding gimmickry....
You think because you typed a question mark at the end of your shit post that you warrant an answer from the Getbig bretheren?
Okay here goes.......fuck off back to MattC's board gimmick. ;D
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You think because you typed a question mark at the end of your shit post that you warrant an answer from the Getbig bretheren?
Okay here goes.......fuck off back to MattC's board gimmick. ;D
Ahhh, it's now so clear thanks to you concise explanation...thanks! LOL!!!!!
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You think because you typed a question mark at the end of your shit post that you warrant an answer from the Getbig bretheren?
Okay here goes.......fuck off back to MattC's board gimmick. ;D
and by the way, I wasn't wanting for an explanation from the "brethren", simply from you.
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As I said in the beginning, the "left's" only way of arguing is to personally attack the opposition, as displayed by our Mensa Member's comments above!
95% of the AM radio dial is trying not to laugh at the hypocrisy of that statement.
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and by the way, I wasn't wanting for an explanation from the "brethren", simply from you.
Do you really like touching young boys, or just mildly enjoy it?
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Do you really like touching young boys, or just mildly enjoy it?
The difference between the 2 is that AM radio attacks policies and their ramifications, while exploring the "motives" behind the policy choices made, on the other hand, the left attacks the person for pure political gain...
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The difference between the 2 is that AM radio attacks policies and their ramifications, while exploring the "motives" behind the policy choices made, on the other hand, the left attacks the person for pure political gain...
AM radio makes you touch young boys?
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Definitely not a man of the people. Just more bullshit.
And your boy obama and holder just dropped all the charges vs Goldman Sachs relating to the mortgage meltdown.
Go figure.
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This piece of shit should be in prison.
Funny - i didnt see the libs on this board say shit last week when obama/holder dropped all the charges vs Goldman Sachs
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AM radio makes you touch young boys?
Another new low....well said champ!!
Ignorance must truly be bliss...
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::) Another scumbag . And the worship of money continues ?
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Although Ryan is an incredible douchebag, this story is misleading and false at best.
http://www.slate.com/blogs/moneybox/2012/08/13/paul_ryan_used_inside_info_to_profit_from_the_financial_crisis.html
Henry Paulson and Ben Bernanke on the financial crisis in 2008. As Eric Platt explains he certainly seems to have sold the shares on the same day as the meeting, but the meeting happened in the evening by which time the markets would have been closed. One can perhaps construct a scenario by which the Richmonder's theory of the case holds up, but they don't have the goods and I shouldn't have passed their analysis on with no qualification and so little scrutiny of my own.
As Brad DeLong writes, for one reason or another Ryan did quite a lot of trading of individual bank stocks in 2008 so the timing of this particularly transaction isn't particularly noteworthy when put in that context. For posterity's sake the original item is below now in strikethrough.
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Although Ryan is an incredible douchebag, this story is misleading and false at best.
http://www.slate.com/blogs/moneybox/2012/08/13/paul_ryan_used_inside_info_to_profit_from_the_financial_crisis.html
Henry Paulson and Ben Bernanke on the financial crisis in 2008. As Eric Platt explains he certainly seems to have sold the shares on the same day as the meeting, but the meeting happened in the evening by which time the markets would have been closed. One can perhaps construct a scenario by which the Richmonder's theory of the case holds up, but they don't have the goods and I shouldn't have passed their analysis on with no qualification and so little scrutiny of my own.
As Brad DeLong writes, for one reason or another Ryan did quite a lot of trading of individual bank stocks in 2008 so the timing of this particularly transaction isn't particularly noteworthy when put in that context. For posterity's sake the original item is below now in strikethrough.
Checkmate
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The liberals are quite okay with taking about $700 billion out of Medicare to start another new entitlement (Obamacare).
They never look to the future and see that one day it'll all come crumbling down.
They believe that as long as there is one or two "rich folks" everything will be okay.
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not surprisingly, these asswipes in politics voted against the "Stock Act" which would have banned this type of insider nonsense by politicians.
If the tea baggers were truly for the people would they not want this guys ass as well?
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The liberals are quite okay with taking about $700 billion out of Medicare to start another new entitlement (Obamacare).
They never look to the future and see that one day it'll all come crumbling down.
They believe that as long as there is one or two "rich folks" everything will be okay.
And they also forget to mention the following:
http://www.forbes.com/sites/danbigman/2012/04/03/john-stossel-tax-the-rich-the-rich-dont-have-enough-really/
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The liberals are quite okay with taking about $700 billion out of Medicare to start another new entitlement (Obamacare).
They never look to the future and see that one day it'll all come crumbling down.
They believe that as long as there is one or two "rich folks" everything will be okay.
Obamacare is an entitlement to Insurance Companies, not to the people. We are not that lucky enough to join the rest of the world in a National Health System/Single Payer.
There is also no evidence that the Republicans want to stop entitlements to Insurance Companies when it comes to Healthcare. In the end, when it comes to healthcare, both parties seek to leave the people high and dry.
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Although Ryan is an incredible douchebag, this story is misleading and false at best.
http://www.slate.com/blogs/moneybox/2012/08/13/paul_ryan_used_inside_info_to_profit_from_the_financial_crisis.html
Henry Paulson and Ben Bernanke on the financial crisis in 2008. As Eric Platt explains he certainly seems to have sold the shares on the same day as the meeting, but the meeting happened in the evening by which time the markets would have been closed. One can perhaps construct a scenario by which the Richmonder's theory of the case holds up, but they don't have the goods and I shouldn't have passed their analysis on with no qualification and so little scrutiny of my own.
As Brad DeLong writes, for one reason or another Ryan did quite a lot of trading of individual bank stocks in 2008 so the timing of this particularly transaction isn't particularly noteworthy when put in that context. For posterity's sake the original item is below now in strikethrough.
And that clears him? I have a clear idea what a meeting will be about before I enter into the room. Topics of conversation. The guy is summoned to a meeting with leading economists, he must have known something is fucked up. He dumped his shares that morning.
"Coincidence"?
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The difference between the 2 is that AM radio attacks policies and their ramifications, while exploring the "motives" behind the policy choices made, on the other hand, the left attacks the person for pure political gain...
Dude, you lose all credibility if you REALLY can't see that there's plenty of rhetoric from both sides, and most of it is inflammatory, ill-supported garbage designed to motivate the mindless. It's not that tough an admission, either, and it would indicate a level of intellectual honesty - if not intellect - far above Team St0rmfr0nt.
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And that clears him? I have a clear idea what a meeting will be about before I enter into the room. Topics of conversation. The guy is summoned to a meeting with leading economists, he must have known something is fucked up. He dumped his shares that morning.
"Coincidence"?
Hey toolbox here you go w your fake outrage
________________________ _________________
Why Goldman Sachs, Other Wall Street Titans Are Not Being Prosecuted
Aug 14, 2012 4:45 AM EDT
http://www.thedailybeast.com/articles/2012/08/14/why-goldman-sachs-other-wall-street-titans-are-not-being-prosecuted.html
The Justice Department's decision not to prosecute Goldman Sachs in a financial-fraud probe is another sign of the cronyism that has kept Attorney General Eric Holder from taking action against other big Wall Street firms, says Peter Schweizer.
On Thursday the Department of Justice announced it will not prosecute Goldman Sachs or any of its employees in a financial-fraud probe.
The news is likely to raise the ire of the political left and right, both of which have highlighted one of the most inconvenient facts of Attorney General Eric Holder’s Justice Department: despite the Obama administration’s promises to clean up Wall Street in the wake of America’s worst financial crisis, there has not been a single criminal charge filed by the federal government against any top executive of the elite financial institutions.
Why is that? In a word: cronyism.
Take Goldman Sachs, for example. Thursday’s announcement that there will be no prosecutions should hardly come as a surprise. In 2008, Goldman Sachs employees were among Barack Obama’s top campaign contributors, giving a combined $1,013,091. Eric Holder’s former law firm, Covington & Burling, also counts Goldman Sachs as one of its clients. Furthermore, in April 2011, when the Senate Permanent Subcommittee on Investigations issued a scathing report detailing Goldman’s suspicious Abacus deal, several Goldman executives and their families began flooding Obama campaign coffers with donations, some giving the maximum $35,800.
That’s not to say Holder’s Justice Department hasn’t gone after any financial fraudsters. But the individuals the DOJ’s “Financial Fraud Enforcement Task Force” has placed in its prosecutorial crosshairs seem shockingly small compared with the Wall Street titans the Obama administration promised to bring to justice.
Will bipartisan outrage boost the decibels in D.C. loud enough for Holder to hear and heed?
Protesters hold signs during a demonstration outside the Goldman Sachs San Francisco headquarters in San Francisco, July 31, 2012. (Justin Sullivan / Getty Images)
Consider the following small-time operators as listed on the Financial Fraud Enforcement Task Force website:
• “Three Connecticut Women Charged with Overseeing ‘Gifting Tables’ Pyramid Scheme.” Three women in their 50s and 60s were indicted for conspiracy, tax, and wire-fraud charges. “These arrests should send a strong message to all who threaten the financial health of our communities,” one federal agent declared.
• In March, 2012, the DOJ sent a property appraiser in Washington, D.C., to the slammer for 65 months for fraudulently inflated prices in a scheme to “flip” properties. The scheme was a small-time $1 million operation, a sharp contrast with the billions on Wall Street.
• The DOJ’s “get tough” on financial crime strategy included sending two health-care software company executives to the clink for 13 and 15 years.
• A Florida resident was charged and sentenced to 14 months in federal prison for falsifying documents, thereby resulting in the obstruction of an SEC investigation.
• Five people in California were charged with bid-rigging foreclosure auctions. The individuals have been charged with violating the Sherman Act and could face up to 10 years in jail.
• Federal officials went after 10 people in Las Vegas because they tried to “fraudulently gain control of condominium homeowners’ associations in the Las Vegas area so that the HAOs would direct business to a certain law firm and construction company.”
• The owner of a Miami company got 46 months in prison for creating fake loan applications.
• Four people in Tacoma, Wash., were indicted for conspiracy that caused a small bank to fail. Their crime: making false statements on loan applications and to HUD.
To be sure, financial fraud of any kind is wrong and should be prosecuted. But locking up “pygmies” is hardly the kind of financial-fraud crackdown Americans expected in the wake of the largest financial crisis in U.S. history. Increasingly, there appear to be two sets of rules: one for the average citizen, and another for the connected cronies who rule the inside game.
That could be changing, as critiques of Eric Holder’s lack of financial prosecutions have now come from the political left and right; indeed, battling cronyism may represent one of the rare points of common ground in today’s fractious political environment. As progressive Richard Eskow of the Huffington Post recently wrote: “More and more Washington insiders are asking a question that was considered off-limits in the nation's capital just a few months ago: Who, exactly, is Attorney General Eric Holder representing? As scandal after scandal erupts on Wall Street, involving everything from global lending manipulation to cocaine and prostitution, more and more people are worrying about Holder's seeming inaction—or worse—in the face of mounting evidence.”
Will bipartisan outrage boost the decibels in D.C. loud enough for Holder to hear and heed? We’ll see. He’s got at least three months to get moving.
Like The Daily Beast on Facebook and follow us on Twitter for updates all day long.
Peter Schweizer is the president of the Government Accountability Institute and the William J. Casey Fellow at the Hoover Institution at Stanford University. In 2008-09 he served as a consultant to the White House Office of Presidential Speechwriting and he is a former consultant to NBC News. He has written for The New York Times, The Wall Street Journal, Los Angeles Times, USA Today, National Review, Foreign Affairs, and elsewhere. His new book is Throw Them All Out.
For inquiries, please contact The Daily Beast at editorial@thedailybeast.com.
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not surprisingly, these asswipes in politics voted against the "Stock Act" which would have banned this type of insider nonsense by politicians.
?
http://thecaucus.blogs.nytimes.com/2012/04/04/obama-signs-bill-banning-insider-trading-by-federal-lawmakers/ (http://thecaucus.blogs.nytimes.com/2012/04/04/obama-signs-bill-banning-insider-trading-by-federal-lawmakers/)
"The bill — the Stop Trading on Congressional Knowledge Act, or Stock Act — was approved in the House in February by a vote of 417 to 2. The Senate agreed to it by unanimous consent after voting
96 to 3 to end debate on the measure in late March."
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Obamacare is an entitlement to Insurance Companies, not to the people. We are not that lucky enough to join the rest of the world in a National Health System/Single Payer.
There is also no evidence that the Republicans want to stop entitlements to Insurance Companies when it comes to Healthcare. In the end, when it comes to healthcare, both parties seek to leave the people high and dry.
Actually, the reality of Obamacare is that it is essentially designed to destroy private Insurers:
"That would be the provision of the law, called the medical loss ratio, that requires health insurance companies to spend 80% of the consumers’ premium dollars they collect—85% for large group insurers—on actual medical care rather than overhead, marketing expenses and profit. Failure on the part of insurers to meet this requirement will result in the insurers having to send their customers a rebate check representing the amount in which they underspend on actual medical care.
This is the true ‘bomb’ contained in Obamacare and the one item that will have more impact on the future of how medical care is paid for in this country than anything we’ve seen in quite some time. Indeed, it is this aspect of the law that represents the true ‘death panel’ found in Obamacare—but not one that is going to lead to the death of American consumers. Rather, the medical loss ratio will, ultimately, lead to the death of large parts of the private, for-profit health insurance industry."
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And that clears him? I have a clear idea what a meeting will be about before I enter into the room. Topics of conversation. The guy is summoned to a meeting with leading economists, he must have known something is fucked up. He dumped his shares that morning.
"Coincidence"?
The meeting took place AFTER he sold the stocks, in the evening, when the Markets were closed. So far, there is nothing to go on and to try to accuse him of wrong-doing is just pointless.
That does not change the fact that he is an out of touch douchebag, career politician who does not really serve the best interests of the people, especially when voting against Stem Cells.
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Hey toolbox here you go w your fake outrage
haha, brutal Ignoratio elenchi
copy paste some more, but don't forget to take your OCD meds for the night ;)
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haha, brutal Ignoratio elenchi
copy paste some more, but don't forget to take your OCD meds for the night ;)
Nice way to avoid the article where Obama/Holder dropped all charges vs Goldman and showing how many conflicts of interest w Holders' law firm, etc.
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Actually, the reality of Obamacare is that it is essentially designed to destroy private Insurers:
"That would be the provision of the law, called the medical loss ratio, that requires health insurance companies to spend 80% of the consumers’ premium dollars they collect—85% for large group insurers—on actual medical care rather than overhead, marketing expenses and profit. Failure on the part of insurers to meet this requirement will result in the insurers having to send their customers a rebate check representing the amount in which they underspend on actual medical care.
This is the true ‘bomb’ contained in Obamacare and the one item that will have more impact on the future of how medical care is paid for in this country than anything we’ve seen in quite some time. Indeed, it is this aspect of the law that represents the true ‘death panel’ found in Obamacare—but not one that is going to lead to the death of American consumers. Rather, the medical loss ratio will, ultimately, lead to the death of large parts of the private, for-profit health insurance industry."
They should be spending 99.999 percent for patient care and not for anything else. Making profit off of human suffering and misery is just wrong. Obamacare ensures that Private Insurers are in no danger of going anywhere anytime soon. People should get what they pay for and in this case, they still don`t for the most part.
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Nice way to avoid the article where Obama/Holder dropped all charges vs Goldman and showing how many conflicts of interest w Holders' law firm, etc.
Why would I concern myself with it? There's no need for me to indulge in your Obama obsession/compulsion. It's an irrelevant deflection from the thread topic.
You want to know what I'm actually concerned with? In my own country they've been talking about banking reform for years now and they've done fuck all so far...
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Dude, you lose all credibility if you REALLY can't see that there's plenty of rhetoric from both sides, and most of it is inflammatory, ill-supported garbage designed to motivate the mindless. It's not that tough an admission, either, and it would indicate a level of intellectual honesty - if not intellect - far above Team St0rmfr0nt.
Oh, I can see there is plenty of rhetoric from each side...but I cant say that I have heard murderous accusations by conservatives, much less AM radio...have you? I worked in DC in the Senate and on a Senatorial campaign here in CA, and am well aware of the lengths gone to for the sake of a particular candidate's victory first hand, and I have never claimed the right is as pure as the driven snow, but the utter lies and personal attacks spewed by this administration's campaign and its cronies, i.e. Harry Reid, are abysmal, and a new low even in modern politics.
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Why would I concern myself with it? There's no need for me to indulge in your Obama obsession/compulsion. It's an irrelevant deflection from the thread topic.
You want to know what I'm actually concerned with? In my own country they've been talking about banking reform for years now and they've done fuck all so far...
LOL. Typical
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?
http://thecaucus.blogs.nytimes.com/2012/04/04/obama-signs-bill-banning-insider-trading-by-federal-lawmakers/ (http://thecaucus.blogs.nytimes.com/2012/04/04/obama-signs-bill-banning-insider-trading-by-federal-lawmakers/)
"The bill — the Stop Trading on Congressional Knowledge Act, or Stock Act — was approved in the House in February by a vote of 417 to 2. The Senate agreed to it by unanimous consent after voting
96 to 3 to end debate on the measure in late March."
Great work by CBS 60 minutes bringing this issue to light on both sides Republican and Democrat, they had no choice but to pass it. Sad they got away with it for many years. Also, now they will probably just clue in their relatives etc.
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They should be spending 99.999 percent for patient care and not for anything else. Making profit off of human suffering and misery is just wrong. Obamacare ensures that Private Insurers are in no danger of going anywhere anytime soon. People should get what they pay for and in this case, they still don`t for the most part.
And how then do you propose the Insurance companies pay their employees and their insurances I might add? I know that Med Insurance costs are outrageous, but last time I checked, they have done a whole lot of good for a whole lot of people, including my children. If the Feds would get out of the way, and truly let the free market dictate what they are willing to pay, simple supply and demand, we would all be a lot better off...just look at the USPS vs. UPS & FedEx...who would you choose if given the chance?
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And how then do you propose the Insurance companies pay their employees and their insurances I might add? I know that Med Insurance costs are outrageous, but last time I checked, they have done a whole lot of good for a whole lot of people, including my children. If the Feds would get out of the way, and truly let the free market dictate what they are willing to pay, simple supply and demand, we would all be a lot better off...just look at the USPS vs. UPS & FedEx...who would you choose if given the chance?
USPS any day of the week. I ship out hundreds of packages a month and FEDEx and UPS not only are 4 times as expensive, their service absolutely sucks. It costs 19.99 cents to ship Parcel 2 lbs at zip 07747 from NC using UPS. Whereas it is only 4.95 to ship the same package to the same location using USPS. Plus I have had ZERO problems of the thousands and thousands of things sent out and picked up over the years by the USPS. The only problems I have ever had were from UPS and FedEX. Their delivery times are complete shit, especially when sending overseas and even more especially, when sending to rural locations across the United States.
UPS/FEDEx sucks really bad.
As for how should Private Insurance make their money to pay their employees-They don`t need so many and they don`t need to be the middle man between you and your doctor. We need a single payer system/National Health System.
As a side note, I used to be an employee of United Healthcare years ago. I didn`t deserve a dime for what I did there.
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Paul Ryan has demonstrated that he is on the side of Wall Street and the wealthy.
Who do you support?
President Obama who has endlessly fought for the working class in America, or Paul Ryan and Mitt Romney who have spelled out their plan to make the wealthy even wealthier.
(http://secure.assets.bostatic.com/Blog/20120811_five_things_paul_ryan.jpeg)
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USPS any day of the week. I ship out hundreds of packages a month and FEDEx and UPS not only are 4 times as expensive, their service absolutely sucks. It costs 19.99 cents to ship Parcel 2 lbs at zip 07747 from NC using UPS. Whereas it is only 4.95 to ship the same package to the same location using USPS. Plus I have had ZERO problems of the thousands and thousands of things sent out and picked up over the years by the USPS. The only problems I have ever had were from UPS and FedEX. Their delivery times are complete shit, especially when sending overseas and even more especially, when sending to rural locations across the United States.
UPS/FEDEx sucks really bad.
As for how should Private Insurance make their money to pay their employees-They don`t need so many and they don`t need to be the middle man between you and your doctor. We need a single payer system/National Health System.
As a side note, I used to be an employee of United Healthcare years ago. I didn`t deserve a dime for what I did there.
Their efficiency must be why they just posted a $5.2 Billion loss...which leads to my next question of would you honestly rather a US Government/IRS employee play the part of middleman, which is undeniably engrained in Obamacare, than a trained private sector professional??
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Only rich people...I think there is plenty of cheating occurring under the guise of welfare, medicaid, unemployment, social security, etc. Just sayin....
Napoleon had the said, "The surest way to remain poor is to be honest."
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Napoleon had the said, "The surest way to remain poor is to be honest."
And he died alone in an island.
Great success.
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Only a complete dipshit would have needed someone to tell them that bank stocks were "troubled" in Sept of 2008. Look at the fucking price charts. This is just another cheap attempt to distract people from the real issue. Obama and Biden have been an unmitigated disaster...electing them was a huge mistake...re-electing them would be an inviting an even greater disaster.
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Paul Ryan has demonstrated that he is on the side of Wall Street and the wealthy.
Who do you support?
President Obama who has endlessly fought for the working class in America, or Paul Ryan and Mitt Romney who have spelled out their plan to make the wealthy even wealthier.
(http://secure.assets.bostatic.com/Blog/20120811_five_things_paul_ryan.jpeg)
LOL!! Not even worth a response.
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Their efficiency must be why they just posted a $5.2 Billion loss...which leads to my next question of would you honestly rather a US Government/IRS employee play the part of middleman, which is undeniably engrained in Obamacare, than a trained private sector professional??
Yep I certainly would rather have a National Health System/Single Payer system set up. I worked with "trained private sector Professionals" at United Healthcare and it was anything but true. The computer systems we were using were so outdated-DOS based it was a joke. Customers were not to be treated as human being, but as metrics and numbers. You weren`t allowed to care that we weren`t going to pay for your cancer treatments because your coverage stopped at a capped amount. I am sure I am responsible for people dying due to my work there. I think about it everyday and it makes me sick.
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Oh, I can see there is plenty of rhetoric from each side...but I cant say that I have heard murderous accusations by conservatives, much less AM radio...have you? I worked in DC in the Senate and on a Senatorial campaign here in CA, and am well aware of the lengths gone to for the sake of a particular candidate's victory first hand, and I have never claimed the right is as pure as the driven snow, but the utter lies and personal attacks spewed by this administration's campaign and its cronies, i.e. Harry Reid, are abysmal, and a new low even in modern politics.
Political campaigns are definitely vile affairs, and I'm glad that you agree on the fact that rhetoric exists all around; that does indeed put you into a higher bracket than most. Hell, I was able to work on drafting some legislation in CA several years back and dealt with a lobbyist, and even that was amazing as to how little discussion actually involves the draft content. Making sausages, you know...but I digress. Reid has overstepped the boundary on more than one occasion, though unfortunately the Romney tax story is mostly just hard-assed politics in this day and age. I'm not an Obama fan but it's hard not to qualify much of the stories that are radio-driven - you know the ones, that involve some sort of twist involving a no-name guy who has a book coming out who does an interview and tells an unsupported anecdote about one of Obama's distant cousins overseas that supposedly sheds light on Obama's "true" (ie. ulterior, conspiratorial) motivations, or the usual racial, religious, citizenship blasts as yellow "journalism" at its worst. And I'm willing to bet there are a number of stories alleging complicity in murder, lol.
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Political campaigns are definitely vile affairs, and I'm glad that you agree on the fact that rhetoric exists all around; that does indeed put you into a higher bracket than most. Hell, I was able to work on drafting some legislation in CA several years back and dealt with a lobbyist, and even that was amazing as to how little discussion actually involves the draft content. Making sausages, you know...but I digress. Reid has overstepped the boundary on more than one occasion, though unfortunately the Romney tax story is mostly just hard-assed politics in this day and age. I'm not an Obama fan but it's hard not to qualify much of the stories that are radio-driven - you know the ones, that involve some sort of twist involving a no-name guy who has a book coming out who does an interview and tells an unsupported anecdote about one of Obama's distant cousins overseas that supposedly sheds light on Obama's "true" (ie. ulterior, conspiratorial) motivations, or the usual racial, religious, citizenship blasts as yellow "journalism" at its worst. And I'm willing to bet there are a number of stories alleging complicity in murder, lol.
The only difference being, these authors and radio hosts are not representing themselves as journalists, unlike those whom, with blatant disregard for truth and source, move forward to "report" these undeniably biased accusations as if they deserve to be considered as fact...
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Yep I certainly would rather have a National Health System/Single Payer system set up. I worked with "trained private sector Professionals" at United Healthcare and it was anything but true. The computer systems we were using were so outdated-DOS based it was a joke. Customers were not to be treated as human being, but as metrics and numbers. You weren`t allowed to care that we weren`t going to pay for your cancer treatments because your coverage stopped at a capped amount. I am sure I am responsible for people dying due to my work there. I think about it everyday and it makes me sick.
Do you volunteer? It's good for the soul.
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In his first four years as President, President Obama has worked to build a foundation to make America strong for the long run.
Electing Mitt Romney would destroy that foundation and revert back to the Bush era, the era in which caused The Great Recession and the problems we face today.
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Yep I certainly would rather have a National Health System/Single Payer system set up. I worked with "trained private sector Professionals" at United Healthcare and it was anything but true. The computer systems we were using were so outdated-DOS based it was a joke. Customers were not to be treated as human being, but as metrics and numbers. You weren`t allowed to care that we weren`t going to pay for your cancer treatments because your coverage stopped at a capped amount. I am sure I am responsible for people dying due to my work there. I think about it everyday and it makes me sick.
I respect your opinion, as it seems you have basis for your opinion and can discuss it rationally, unlike many here. And FYI, I also work in healthcare, but not for an insurance company, but with those benefiting from their private insurance.
Thanks for remaining civil!
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I hope he ends medicare. Money is forced out of my check for medicare even though I don't use it.
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In his first four years as President, President Obama has worked to build a foundation to make America strong for the long run.
Electing Mitt Romney would destroy that foundation and revert back to the Bush era, the era in which caused The Great Recession and the problems we face today.
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I hope he ends medicare. Money is forced out of my check for medicare even though I don't use it.
Possibly... but you may in the future... It's like insurance in some ways.
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I respect your opinion, as it seems you have basis for your opinion and can discuss it rationally, unlike many here. And FYI, I also work in healthcare, but not for an insurance company, but with those benefiting from their private insurance.
Thanks for remaining civil!
I think a National Health System/Single Payer which covers everybody and an option to purchase additional Private Insurance (not that it would be needed)/Private Network of Hospitals and Doctors would be sufficient. Tying employment to healthcare and shackling the middle man Insurance Companies to individuals has been nothing but a disaster from a utilitarian standpoint as well as from a Financial one.
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If R&R win, in 4 years the gap in wealth between the rich and poor will grow beyong belief. It would be so huge that the whole economy will perish
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If R&R win, in 4 years the gap in wealth between the rich and poor will grow beyong belief. It would be so huge that the whole economy will perish
I doubt that would happen. They don`t really have that much power. There are so many causes to income disparity that to affix it to one Presidential election would not make any sense.
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I hope he ends medicare. Money is forced out of my check for medicare even though I don't use it.
Assuming to don't make it to age 65, you never will.
But you'd better watch out if you make it to 65, because eventually, we'll all get sick (to some extent) & die.
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Obamacare is an entitlement to Insurance Companies, not to the people. We are not that lucky enough to join the rest of the world in a National Health System/Single Payer.
There is also no evidence that the Republicans want to stop entitlements to Insurance Companies when it comes to Healthcare. In the end, when it comes to healthcare, both parties seek to leave the people high and dry.
Gifting free health insurance to millions is called an entitlement, even though the insurance co's get new customers.
We're paying for it.
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Gifting free health insurance to millions is called an entitlement, even though the insurance co's get new customers.
We're paying for it.
After the Rainbow PUSH forum, however, Marcy Bailey and her coworkers were moved into a back room for a private meeting with Jesse Jackson Sr. , and Rainbow PUSH organizer Rev. Janet Wilson, where Bailey said they received “job coaching.”
“Jesse Jackson Sr. said to work hard to help as many students as possible acquire student loans. Jackson Sr. encouraged us to network students, hold rallies and organize for "student loan forgiveness legislation", Marcy Bailey wrote in her affidavit. Jesse Jackson Sr. also told us not to worry about loading students up with too much college debt, because Nancy Pelosi and the Democrats will eventually forgive all student loan debt. On the promise of debt forgiveness, ‘those people will continue to vote Democratic.’
http://dailycaller.com/2012/08/14/whistle-blower-documents-ill-state-workers-forced-to-attend-pelosi-jesse-jackson-jr-event-on-taxpayer-dime/
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And by the way, since when has America become a society of envy and contempt towards the successful/wealthy?
All I know is I can't remember anyone I know ever being employed by a poor person...
:'(