NEW REPORT SHOWS FOUR TRILLION DOLLAR BAILOUT TO BANKS IN 2008

I used to have a roommate who never had enough money for rent and would cry poverty every time it would come to that moment to pony up funds. Then he would go buy hundreds of dollars worth of CD's, movies and video games. This is exactly how I feel everytime I hear the government do EXACTLY the same thing. WAAAAA we're broke so we can't have things like Social Security, Food Stamps, or social welfare programs in general. And then, as soon as our backs are turned, they spend it frivolously on anything they can get their greedy little hands on. I eventually moved out on my freeloading roommate. Isn't it time we do the same?

A new report about the bank bailouts was this week released by one of the few members of Congress not a completely corrupt bastard, Bernie Saunders of Vermont who also is one of the few independents/socialists in Congress. We could use more like him regardless of what Idiot America thinks of socialism; a word that has been unfairly combined with communism and fascism by fools like Glenn Beck, who recently got $100 million dollars for his radio show. WTF?

The report has revealed the names of 18 former and current directors from Federal Reserve Banks who directly benefited from financial bailouts after the 2008 crisis to an amount of over four trillion dollars. Gee, I thought we were broke.

Basically, the Fed helped the top one percent above all others. The report titled Jamie Dimon Is Not Alone names the top 18 Reserve directors including Jamie Dimon who received the largest Federal Reserve loans and other financial assistance during the crisis. This is the same Jamie Dimon who recently lost at least seven billion dollars on a bad bet for J.P. Morgan/Chase Bank.

"This report reveals the inherent conflicts of interest that exist at the Federal Reserve. At a time when small businesses could not get affordable loans to create jobs, the Fed was providing trillions in secret loans to some of the largest banks and corporations in America that were well represented on the boards of the Federal Reserve Banks. These conflicts must end," Sanders said.

So we WERE broke if average American wanted help, but the elites got their pound of flesh and damn the consequences. Here a part of the report:


The GAO study found that allowing members of the banking industry to both elect and serve on the Federal Reserve's board of directors creates "an appearance of a conflict of interest" and poses "reputational risks" to the Federal Reserve System.

In Dimon's case, JPMorgan received some $391 billion of the $4 trillion in emergency Fed funds at the same time his bank was used by the Fed as a clearinghouse for emergency lending programs. In March of 2008, the Fed provided JPMorgan with $29 billion in financing to acquire Bear Stearns. Dimon also got the Fed to provide JPMorgan Chase with an 18-month exemption from risk-based leverage and capital requirements. And he convinced the Fed to take risky mortgage-related assets off of Bear Stearns balance sheet before JP Morgan Chase acquired the troubled investment bank.

Another high-profile conflict involved Stephen Friedman, the former chairman of the New York Fed's board of directors. Late in 2008, the New York Fed approved an application from Goldman Sachs to become a bank holding company giving it access to cheap loans from the Federal Reserve. During that period, Friedman sat on the Goldman Sachs board. He also owned Goldman stock, something that was prohibited by Federal Reserve conflict of interest regulations. Although it was not publicly disclosed at the time, Friedman received a waiver from the Fed's conflict of interest rules in late 2008. Unbeknownst to the Fed, Friedman continued to purchase shares in Goldman from November 2008 through January of 2009, according to the GAO.

In another case, General Electric CEO Jeffrey Immelt was a New York Fed board member at the same time GE helped create a Commercial Paper Funding Facility during the financial crisis. The Fed later provided $16 billion in financing to GE under this emergency lending program.
Sanders on May 22 introduced legislation to prohibit banking industry and business executives from serving as directors of the 12 Federal Reserve regional banks.

Much like our politicians, the elites are using inside information to make billions off of the average worker. In return, they scream poverty and blame the middle class for being too well off to survive. What nerve?

Meanwhile the MSM remains firmly asleep at the wheel, no longer interested in anything that doesn't drive ratings and viewers, which is almost never real news anymore. CNN at least woke up to the dismal failure of the John King show which was cancelled this week. Unfortunately, Captain Dumbass is still at the network to be part of their election coverage. Joy.

The rise of money in politics has forever destroyed our political system, civil liberties and social programs, regardless of which side wins come November. Rand Paul is being eviscerated by the Tea Party for his support of Romney and Bain Capital, something we and the Tea Party have in common. I wish more of that group and the dead in the water Occupy movement would come together and realize we have more in common than you think. Put aside cutting spending and religious social engineering on the right and the stupid drum circles and sleeping in the park from the left, and we have a common cause: getting rid of corruption in our government and it can be done. The first way is to stop voting for telegenic retards who have no chance or ability to fix anything. Compromise is needed on both sides and the removal of money from elections is paramount. Don't vote for anyone
who is part of the problem. But even this is probably not likely as the elections are rigged and not in our favor.

A recent statistic show a seven percent discrepancy between the exit polls and election result in Wisconsin. Color me NOT surprised.  This is from freepress.com:

One of my favorite mathematicians is Richard Charnin, who on his website using readily available public information, calculates the odds of the so-called ‘red shift" occurring from the 1988 to 2008 presidential elections. The red shift refers to the overwhelming pick up of votes by the Republican Party in recorded votes over what actual voters report to exit pollsters. See Richard Charnin's article

In Charnin's analysis of exit poll data, we can say with a 95% confidence level – that means in 95 out of 100 elections – that the exit polls will fall within a statistically predictable margin of error. Charnin looked at 300 presidential state exit polls from 1988 to 2008, 15 state elections would be expected to fall outside the margin of error. Shockingly, 137 of the 300 state presidential exit polls fell outside the margin of error.

What is the probability of this happening?

"One in one million trillion trillion trlllion trillion trillion trillion," said Charnin.

More statistical proof of Republican operatives, zealots and sympathizers tampering with the vote is found in the fact that 132 of the elections fell outside the margin in favor of the GOP. We would expect eight.

Say you have a fair coin to flip. We would expect that if we flip that coin there would be an even split between heads and tails – or in this case, Republicans and Democrats. Election results falling outside the margin of error should be equally split between both parties. Yet, only five times, less than expected, did the extra votes fall in the direction of the Democratic Party.

So what are the odds? According to Charnin, of 132 out of 300 state presidential elections exceeding the margin of error in the direction of the Republicans – one in 600 trillion trillion trillion trillion trillion trillion trillion trillion trillion.

The corporate-owned media does not want to mention that the problems with the exit polls began with the ascendancy of the former CIA Director George Herbert Walker Bush to the presidency in 1988. It is also that year when the non-transparent push-and-pray voting machines were introduced in the New Hampshire primary by Bush ally John Sununu. Bush, who rigged elections for the CIA throughout the Third World did unexpectedly well where the voting machines were brought in.

In any other election outside the U.S., the U.S. State Department would condemn the use of the these highly riggable machines based on the discrepancy in the exit polls. It's predictable what would happen if an anti-U.S. KGB agent in some former Soviet Central Asian republic picked up an unexplained 5% of the votes at odds with the exit polls. A new election would be called for, as it was in the Ukraine in 2004. We would not have accepted the reported vote from the corrupt intelligence officer.
The CIA Director's son wins with laughable exit poll discrepancies in 2000 and 2004 and the mainstream media sees no evil. The media's perspective is to discredit the exit polls, which they sponsor, and call any who points to the unadjusted, or actual, polls "conspiracy theorists."

In 2004, 22 states had a red shift to the CIA Director's son, George W. Bush. Usually such improbably results are signs of a Banana Republic. Now we have a too-close-to-call neck and neck recall race in Wisconsin that show an obvious red shift for a right-wing red governor. Nobody wants to look at the non-transparent black box machines. Electronic election rigging has prospered. Democracy is dead. Long live the "adjusted" vote totals.
So our election are rigged and have been for some time, money is corrupting the system even further and Idiot America is more concerned whether Becky picks Joe or Biff on America's Next Big Whore, which is currently called The Choice. We stand at a point where this country is going to fall into a very different kind of place, one that will be much less tolerant, much more authoritarian and one where fascism will rule supreme and we are letting happen. The right and the left have to realize we have more in common with each other than the one percent and if we keep fighting over gay rights and abortion and birth certificates, the rich win. This must stop because if we don't, the alternative is slavery and death.