Let’s play “One of these things is not like the other’!

How can all these things be true at the same time in the same universe?

– The biggest banks in the world are revealed to have manipulated the critically important LIBOR rate for years for their own financial benefit.

– JP Morgan Chase is belatedly discovered to have lost $5.8 billion — up from the original $2 billion estimate — in risky derivatives trading that it supposedly did not dabble in. The trades were allegedly hidden both from regulators and from top executives.

– Jon Corzine and MF Global announce that they have lost $40 billion — including $1.6 billion of clients’ money that by law should never have been put at risk. The money may never be recovered.

– Russell Wasendorf, founder of PFGBest, is arrested for fraud for having lost more than $200 million in clients’ money that again by law should never have been put at risk. Again, the money may never be recovered.

– The financial system is overregulated.

362 comments Add your comment

Jay

July 14th, 2012
7:00 pm

Did somebody say Sons of Confederate Veterans?

Common Damn Sense isn't Very Common

July 14th, 2012
7:09 pm

First after Jay :-)

Common Damn Sense isn't Very Common

July 14th, 2012
7:10 pm

Greed can never be regulated, only punished

Keep Up the Good Fight!

July 14th, 2012
7:17 pm

“I do believe, I do believe”

Keep Up the Good Fight!

July 14th, 2012
7:26 pm

but but but…. that’s sounds anti-capitalism Jay….. Its much much better to have the unregulated markets that led to so many crashes and failures like those of 1929. Investors should each have to do their own research without the help of accurate SEC filings, accurate financial reporting, and of course, they should know when insider trading is occuring and jump in. :roll:

barking frog

July 14th, 2012
7:28 pm

Greed is Good.-Geico Gekko

Ol' Timer

July 14th, 2012
7:30 pm

If you would save an investment banker from drowning do not say, “give me you hand”, for he has no concept of giving. Say, rather, “take my hand” and he will be saved.

I’m old enough to remember when banks and bankers were honorable — Mills B. Lane of C&S. Not any longer. They have not demonstrated they’re trustworthy and many of the CEOs should be in jai.

flagboy?

July 14th, 2012
7:30 pm

What exactly does, “Sons of Confederate Veterans” have to do with anything?

G Mare

July 14th, 2012
7:36 pm

Jay@7:00, :) . It worked!

Doggone/GA

July 14th, 2012
7:38 pm

“without the help of accurate SEC filings, accurate financial reporting,”

And what good is THAT if the SEC doesn’t have the money, resources or people to actually CHECK them?

G Mare

July 14th, 2012
7:41 pm

flagboy?, I am not quite sure either, but it seems to equate to people who will never accept that “the times they are achangin.”

Mr. Snarky

July 14th, 2012
7:45 pm

Because regulations are always bad. The government primary role is to transfer money from taxpayers to the military industrial complex. I thought you knew that!

Doggone/GA

July 14th, 2012
7:45 pm

“What exactly does, “Sons of Confederate Veterans” have to do with anything?”

See the last page of the previous blog. You’ll find out what you want to know.

Thomas

July 14th, 2012
7:46 pm

The Braves started a left fielder today that is hitting .206- were they “under left fielded” today?

Perhaps a more informative article would have included the ineptititude of federal gov’t workers as well.

Oscar

July 14th, 2012
7:48 pm

To answer the question. There can be too many laws. There also at the same time be no enforcement of any of those laws.

But I don’t think there are enough laws to regulate the financial industry. Bringing back Glass-Steagall would help.

But I don think the laws we have are not enforced.

Does little good to have laws and regs that are ingored.

Oscar

July 14th, 2012
7:49 pm

Should say: But I don’t think the laws we have are sufficiently enforced.

flagboy?

July 14th, 2012
7:50 pm

got it. thanks.

Kamchak ~ Thug from the Steppes

July 14th, 2012
7:53 pm

Did somebody say Sons of Confederate Veterans?

Damn!

It worked. Color me shocked. :shock:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

– Russell Wasendorf, founder of PFGBest, is arrested for fraud for having lost more than $200 million in clients’ money that again by law should never have been put at risk.

Yeah saw that over at CNNMoney — According to a criminal complaint filed by the U.S. Attorney’s Office, agents from the Omaha, Neb., office of the FBI used a suicide note found with Wasendorf against him.

“I have committed fraud,” read the note, which was written to his wife, according to the complaint. “For this I feel constant and intense guilt. I am very remorseful that my greatest transgressions have been to my fellow man.”

“Through a scheme of using false bank statements I have been able to embezzle millions of dollars from customer accounts at Peregrine Financial Group, Inc.,” the note in the complaint said. “The forgeries started nearly twenty years ago and have gone undetected until now.”

Hung by his own words. I hope that note is admissible in court.

A sentiment worth expressing again.

Keep Up the Good Fight!

July 14th, 2012
7:53 pm

Yes, blame the regulators after you don’t give them sufficient tools and manpower and of course you put constant political pressure on them not to do their jobs….. and when they do act, whine about how they are overregulating and that penalties and fines just hurt shareholders and the markets, while the CEOs are rewarded with even higher salaries… yeah, its the regulators. :roll:

Me Be Regulatin

July 14th, 2012
7:53 pm

IMHO – I’ts tough to regulate CRIMINALS. All the above listed CRIMES were committed outside of the law (regulations). Kinda like speeding – You know you’re breaking the law and you smile, until you get caught.

PD – Member of the S.A.R. (aka the winners!)

JamVet

July 14th, 2012
7:53 pm

Perhaps a more informative article would have included the ineptititude (sic) of federal gov’t workers as well.

Do you have relatives that are bankster criminals or something, Thomas? Cuz you sure love running cover for them.

This NOT about ineptitude. This is about lawlessness. This is about MASSIVE white collar crime. This is about the staggering corporate crime wave that you will never acknowledge. The one that is ruining this nation.

No wonder they want Republicans in Washington, huh?

bman

July 14th, 2012
7:54 pm

Oh, I was really hoping that the next blog topic was going to be about DIY garage door repair !

Keep Up the Good Fight!

July 14th, 2012
7:54 pm

Kam, if i see a unicorn poohing skittles tonight, you will have reached a new level :D

Project Dreamz

July 14th, 2012
7:56 pm

G Mare

July 14th, 2012
7:56 pm

Ol’ Timer, I remember those times, too. Maybe the reporting was not that good? Or maybe people were more honest then? I would SO like to believe in Atticus Finch & George Bailey. Sadly, we don’t seem to have those people nowadays. Perhaps George & Atticus, along with you & me, got lost somewhere along the way.

Redneck

July 14th, 2012
7:57 pm

Untill we stop this madness by NOT putting our money in these crackpot investments (Banks, stock market, money market) this will go on and on….

Oscar

July 14th, 2012
8:01 pm

Perhaps a more informative article would have included the ineptititude (sic) of federal gov’t workers as well.

________

It’s not the fault of the police if someone robs a bank. It’s the fault of the criminal who commited the crime.

Brosephus™ (B)

July 14th, 2012
8:03 pm

Perhaps a more informative article would have included the ineptititude of federal gov’t workers as well.

Perhaps you can kiss the collective asses of federal government workers.

flagboy?

July 14th, 2012
8:03 pm

JamVet, the housing and banking crisis over the past 8 years has everything to do with ineptitude. I won’t even lay the blame at the feet of those who thought they should buy a million dollar house when no on in his/her right mind would think they could afford it.

The people at AIG were inept. The people at Moody’s and Standard and Poor were inept. They were either inept or incredibly lazy. I’m not sure either one is better than the other.

Oscar

July 14th, 2012
8:03 pm

Redneck
_____

Where are you going to put your money. Cash makes mattresses lumpy.

And capitalism could not exist without investors who buy their stock and banks that loan them start up money and money to make payrolls during months when revenues are down.

Steve - USA "None of the Above"

July 14th, 2012
8:03 pm

Bush was supposed to be watching Wall Street 24/7, I guess Obama isn’t watching either.

Oscar

July 14th, 2012
8:04 pm

Brosephus™ (B

__

Yeah. That’s what I meant.

Brosephus™ (B)

July 14th, 2012
8:05 pm

Or even better, why not go work for the federal government so you can see exactly where the ineptness originates. Here’s a hint, it isn’t from the working class.

Kamchak ~ Thug from the Steppes

July 14th, 2012
8:06 pm

Perhaps a more informative article would have included the ineptititude of federal gov’t workers as well.

Perhaps Jay can reiterate yet again how during the aughts inspectors were reassigned and the department responsible for investigating these asshats was underfunded.

But it goes back even further. Brooksley Born warned about the ticking time bomb that is the unregulated derivatives market.

Greenspan and Co. (yes, Rubin, Summers, and little Timmy Geithner) didn’t want to hear it.

Wankers.

Oscar

July 14th, 2012
8:06 pm

Steve

Still blaming the cops instead of the criminals. You are somewhat upside down.

G Mare

July 14th, 2012
8:06 pm

Yeah, Kam it did work! :) “Totally cool.” With thanks to the grands for that phrase.

Common Damn Sense isn't Very Common

July 14th, 2012
8:08 pm

Bro

you need to get back to work you inept lazy gubmint worker

j/k

How have you been?

:-)

Oscar

July 14th, 2012
8:09 pm

G Mare
+++++++

What worked?? Makes no sense to me.

TaxPayer

July 14th, 2012
8:10 pm

Common Damn Sense isn't Very Common

July 14th, 2012
8:11 pm

Oscar

when some says Sons of Confederate Veterans Jay will put up a new subject.

Redneck Convert (R--and proud of it)

July 14th, 2012
8:12 pm

Well, anybody can lose some money. That’s how things go in the Free Market . . .40 billion bucks! Holy cr_p! I sure hope it wasn’t any of my money.

Anyhow, this just goes to show there’s too much regulation. If it wasn’t for all this regulation these cos. and people wouldn’t need to sneak around doing stuff the regulations say they can’t do. Just like if there wasn’t so many laws against bank robbery people wouldn’t be robbing banks so much and every bank would be safe.

At least I think that’s what’s happening. I get so confused. And tell this Oscar it’s none of his beeswax where I keep my money. It’s for dang sure I won’t be trusting these cos. and people to handle it. They’re so over-regulated it’s hard to tell what they’ll be tempted to do with it.

Have a good Saturday night everybody.

Brosephus™ (B)

July 14th, 2012
8:15 pm

How have you been?

Great. Enjoying time with the lil one. Peeked in here for a minute or two to see what’s going on. Of course, I stumble upon the same jackassery as always. Been thinking about stepping away from this place for a while. I’m nearing my quarterly limit for stupidity already. :)

How’s things with you? I haven’t heard anything else on Infosys yet.

Kamchak ~ Thug from the Steppes

July 14th, 2012
8:15 pm

JamVet

July 14th, 2012
8:15 pm

flagboy, are you familiar with the phrase, “Crazy like a fox”?

These banksters are imperious.

They are untouchable.

And they know it.

They own our government.

They write the laws. The laws that legalize thievery.

Sure the mega-corporation MAY pay some slap on the wrist fine, but what do they care?

Ralph Nader is right; they simply look at it anymore as a cost of doing business.

The banksters themselves walk away scott free every time.

And the neocons LOVE it…

Oscar

July 14th, 2012
8:19 pm

Common

Thanks

Kamchak ~ Thug from the Steppes

July 14th, 2012
8:20 pm

Hiya, G Mare!

Credit josef on the SOCV thingie.

flagboy?

July 14th, 2012
8:25 pm

Right. . neocons. So easy to just blame one side. Geez. . . I’m conservative myself, but I don’t buy every piece of information that comes from the political party of my choosing, which for better or worse at the moment is the Republican party, as being gospel truth. Is the system screwed up? sure, in some respects. Is it all the fault of the Republican party?? . . . if you say yes . . well. . . pretty much would end any discussion. Who repealed Glass-Steagal? Clinton! It’s all Clinton’s fault! Blame the democrats! . . .whatever.

independent thinker.

July 14th, 2012
8:27 pm

More info about the JOB CREATOR aka JOB DESTROYER, Willard, Mitt Romney:

“”"”"”On April 17, 1998, Brookside Capital Partners Fund, a Bain Capital affiliate, filed a report with the Securities and Exchange Commission noting that it had acquired 6.13 percent of Hong Kong-based Global-Tech Appliances, which manufactured household appliances in a production facility in the industrial city of Dongguan, China. That August, according to another SEC filing, Brookside upped its interest in Global-Tech to 10.3 percent. Both SEC filings identified Romney as the person in control of this investment: “Mr. W. Mitt Romney is the sole shareholder, sole director, President and Chief Executive Officer of Brookside Inc. and thus is the controlling person of Brookside Inc.” Each of these documents was signed by Domenic Ferrante, a managing director of Brookside and Bain.”"”"”"”"”"”"”"
See David Korn in Mother Jones News

Sole purpose of this company was to outsource US jobs in the appliance industry. Willard was not hiding at any Oympic venue at that time and clearly the man in charge.
Hey Repubs – your man is going down like a sub headed underwater with all the hatches open. Time for an open convention. I’ll consider Newt over this con artist.

Kamchak ~ Thug from the Steppes

July 14th, 2012
8:30 pm

So easy to just blame one side.

Blame one side?

I already painted a target on Rubin, Summers and Geithner.

Geez….

weetamoe

July 14th, 2012
8:31 pm

Does Obamacare cover hospitalization for enormous disappointment?

Oh look there’s Johnny Reb

Are there too many religions in the U.S?

July 14th, 2012
8:32 pm

flagboy?

July 14th, 2012
8:35 pm

Kamchak,

Yes, initially inept. By the time Moody’s and S&P knew what was going on, they knew they were screwed. But it all started with the people there buying what Goldman Sachs, Bear Stearns, etc. were selling without looking under the hood. Fact was, all the banks were smarter than the people at Moody’s or S&P. . . they sold them Pintos labeled as BMW’s. . . and they bought them over and over until it was too late.

And as far as regulations go, and this is only my own opinion. the bond market was too complicated for people at most of the places in that game to even understand. . . I highly doubt government regulations would have caught on to it as well. just my opinion.

flagboy?

July 14th, 2012
8:36 pm

Kamchak

the blame one side thing was for the neocon comment from another post.

kayaker 71

July 14th, 2012
8:37 pm

What is amazing about this whole thing is that JP Morgan Chase has posted a profitable quarter after losing over 5B dollars. Wells Fargo has done much the same thing after being fined several million dollars for housing loans which it mismanaged.

Keep Up the Good Fight!

July 14th, 2012
8:38 pm

Fact was, all the banks were smarter than the people at Moody’s or S&P. . . they sold them Pintos labeled as BMW’s

wow, now fraud and deception is “smarter” :roll: Part of the problem.

Brosephus™ (B)

July 14th, 2012
8:41 pm

Keep

And I thought the hip hop community was the only one that idolized criminal behavior. :lol:

flagboy?

July 14th, 2012
8:42 pm

wow, now fraud and deception is “smarter” :roll: Part of the problem.

Yes, fraud and deception that would have been impossible to pull on both ratings systems had either one bothered to do their job and actually know what they were rating as AAA.

Kamchak ~ Thug from the Steppes

July 14th, 2012
8:43 pm

Yes, initially inept. By the time Moody’s and S&P knew what was going on, they knew they were screwed.

No, criminally culpable.Moody’s and S&P didn’t want to know what was going on.

But it all started with the people there buying what Goldman Sachs, Bear Stearns, etc. were selling without looking under the hood.

By accepting Moody’s and S&P’s ratings, they did indeed “look under the hood”, or at least to the point of plausible deniability.

the bond market was too complicated for people at most of the places in that game to even understand. . .

I have said nothing at all about the bond market.

Keep Up the Good Fight!

July 14th, 2012
8:46 pm

flagboy, so its okay and smarter as long as the rating agencies do not catch it?

Bro, is “hip hop community” one of them code words for Wall Street? ;)

DebbieDoRight - A Do Right Woman

July 14th, 2012
8:46 pm

DG: And what good is THAT if the SEC doesn’t have the money, resources or people to actually CHECK them?

That was part of the “Big Plan”. Cripple entities like the IRS, and the SEC by starting a campaign of Big Government. Get your minions in the government to fire all these workers under the banner of “Saving Money*”; (NOTE: No one thought to “save money” by getting rid of Gas subsidies). Once these entities are forced to work with one hand behind their back and both legs cut out from under them – you have just effectively implemented the “Big Plan” to perfection…………….

Thomas; Perhaps a more informative article would have included the ineptititude of federal gov’t workers as well.

Of course. It’s NEVER the company’s fault that they lied and cheated, it’s the GOVERNMENT’S fault that they didn’t catch them. :roll:

Oscar: But I don’t think the laws we have are sufficiently enforced.

See comments ^^^ above.

Common Damn Sense isn't Very Common

July 14th, 2012
8:47 pm

Bro

I am between contracts at the moment but will probably be heading to Pittsburgh soon to work at another bank contract (Risk Management and Compliance) this time.

Gotta love the fed regs in my business :-)

Found out that Christmas Ale is available if you can find a store that sells Dorfmunder Gold (same brewer).

Until I head out I will be helping my stepson paint (outside the week before last it hovered around 100 here)

ByteMe

July 14th, 2012
8:48 pm

Of course it’s over-regulated. If they under-regulate it, we’d never have known and could go about our lives without worrying about these things happening to us. Because it would never happen. Because we wouldn’t know about it. See how that works?

Actually, from the headline, I though this was going to be an article on how Romney collected over $100,000 in salary and signed all the Federal regulatory documents as CEO and President for a company he now claims he didn’t work for….

ByteMe

July 14th, 2012
8:49 pm

Moody’s and S&P didn’t want to know what was going on.

e-mails being released from the lawsuits show they knew EXACTLY what they were doing by taking the money and giving AAA rating to financial instruments that they didn’t understand… all to keep the profits flowing.

Common Damn Sense isn't Very Common

July 14th, 2012
8:50 pm

DDR

What’s for dinner tonight :-)

Recon 0311 2533

July 14th, 2012
8:50 pm

Oh, those Democrat fat cats who’ve been destroying our economy for their own selfish gain.

flagboy?

July 14th, 2012
8:51 pm

Kamchak, ever read The Big Short by Michael Lewis? Great read.

True. . i spoke about the bond market. . . .

G Mare

July 14th, 2012
8:54 pm

Oscar, Kam said we would get new sheets here if somebody mentioned SONS OF CONFEDERATE VETERANS. So we did, & we got a new topic from Jay – new sheets. :)

Brosephus™

July 14th, 2012
8:55 pm

Keep

I’m beginning to think so. It’s a known fact that there are many consumers of rap music who lack substantial melanin counts in their skin. :)

——————————-

“Oh, those Democrat Plutocrat fat cats who’ve been destroying our economy for their own selfish gain.”

I doubt many people believe it’s even a party thing anymore.

ByteMe

July 14th, 2012
8:56 pm

I doubt many people believe it’s even a party thing anymore.

How can you doubt that some people think that everything is a party thing?

Kamchak ~ Thug from the Steppes

July 14th, 2012
8:57 pm

e-mails being released from the lawsuits show they knew EXACTLY what they were doing by taking the money and giving AAA rating to financial instruments that they didn’t understand… all to keep the profits flowing.

Good.

I want the authors of these emails tracked down and have them kicked in the balls repeatedly by the boys from Jackass.

In prime-time, on national TeeVee.

flagboy?

July 14th, 2012
8:57 pm

ByteMe, I have to admit to being ignorant to the emails and the higher ups. . . but i’ll bet dollars to donuts that the lower people on the ladder at Moody’s, the people who actually did most of the work with rating and knowing what was going on were incompetent and/or over their head.

lefty_316

July 14th, 2012
9:00 pm

Letting banks and invstement houses merge was a terrible idea. Break them out again and let the the brokers take all the risks they want in a deregulated environment. If they end up busting themselves out so be it, just don’t force taxpayers into a position of having to bail them out again.

Brosephus™

July 14th, 2012
9:01 pm

How can you doubt that some people think that everything is a party thing?

Easy. I can doubt it until the cows come home. Doubting something in and of itself doesn’t make it true. ;)

MiltonMan

July 14th, 2012
9:03 pm

Jay mentions the once golden child of the libs – Corzine & in the same piece takes an underhanded slap to the cons – bipolar on display.

Also, interesting that there is zero mention of JP “donating” almost $1 million to Obozo. How much did the crooked Corzine donate to the clown-in-chief?

ByteMe

July 14th, 2012
9:03 pm

but i’ll bet dollars to donuts that the lower people on the ladder at Moody’s, the people who actually did most of the work with rating and knowing what was going on were incompetent and/or over their head.

You’d lose the bet. The ones working the ratings were told by the higher-ups (after calls to the higher ups from the investment banks) to give the ratings the investment banks wanted on the mortgage instruments. The investment banks knew they were slop, the ratings agencies knew they didn’t understand them, the investment banks threatened to pull their business from the ratings agencies, and the ratings people gave them the same rating as US Treasury debt nonetheless.

It’s all pretty well documented at this point. The lawsuits are causing the e-mails to come out about it. The ratings agencies are trying to hide behind the first amendment (”This was our opinion”), but that won’t fly when the agencies are given special status as the arbiter of whether pension funds can hold certain paper.

Recon 0311 2533

July 14th, 2012
9:06 pm

“I doubt many people believe it’s even a party thing anymore”

Don’t know about many that believe it’s a party thing but Corzine and Dimon are big time Democrats who gave considerably to Obama’s campaign.

ken

July 14th, 2012
9:09 pm

And if the SEC would have done their job Berni would have been caught. The SEC should be in the cell next to Bernie.

flagboy?

July 14th, 2012
9:10 pm

ByteMe, I’m not calling you a liar, but I’ll believe it when I see it. There’s a reason being a Moody’s analyst is considered a large step down from being at Goldman Sachs.

Also, I thought most of the fraud stuff against moody’s was dropped a few years ago. 2010 I thought.

Can you point me in the direction of info for them still being investigated?

Oscar

July 14th, 2012
9:23 pm

ken

No one at the SEC broked any laws. Bernie did.

ByteMe

July 14th, 2012
9:27 pm

Can you point me in the direction of info for them still being investigated?

didn’t say “investigated”. This is part of the ongoing lawsuit against them by numerous parties related to the ratings they gave to investments at the behest of investment banks.

See here for starters, then follow some of the links:
http://www.dailyfinance.com/2010/04/23/more-hot-emails-put-new-heat-on-the-credit-rating-agencies/

and this: http://mortgagefraudblog.com/perp-walk/item/16707-ratings-on-mortgage-backed-securities-leads-to-lawsuit

barking frog

July 14th, 2012
9:34 pm

A mandate that everyone
deposit money in a bank or
the stock market under the taxing power of Congress would go far in correcting
the problems of both and
provide for retirement for
all.

flagboy?

July 14th, 2012
9:40 pm

barking frog. .no thanks.

Doggone/GA

July 14th, 2012
9:42 pm

“A mandate that everyone deposit money in a bank or the stock market under the taxing power of Congress would go far in correcting the problems of both and provide for retirement for all.”

/snort

DebbieDoRight - A Do Right Woman

July 14th, 2012
9:44 pm

Common: What’s for dinner tonight

Hiya Common!! Tonight i cooked jerk chicken, peas and rice, cabbage and plantains.

I felt like going to de Islands tonight mon!

barking frog

July 14th, 2012
9:45 pm

flagboy
you will get old if you don’t
die. you will need more than
social security. you must be
forced to provide for
yourself and not be a
free riding moocher.

Not a Neal Boortz Redneck

July 14th, 2012
9:48 pm

Corzine didn’t steal a dime. All the MFG funds have been located. In fact, the idiot was buying MFG stock hand over fist as late as August of last year.

He never sold a share.

Now Mozilo sold as much as he could (Countrywide). The real scam artists ran banks that were not subjsect to GlassSteagall.

G-S is a red herring. Dodd Frank is much stronger. It can liquidate a bank for falling below capital standards.

Thomas Heyward Jr.

July 14th, 2012
9:49 pm

There are over 70,000 employees of the SEC,the DOJ, and the FBI.
.
And even if you count the average intelligence of a government worker as being only a quarter of a regular person…..that still leaves 17 or 18 thousand people charged with preventing financial crimes…………………..and yet…………………..Jon Corzine still walks free……….and the crimes will continue until every last dollar in your retirement fund is gone.
.
Weird.

Doggone/GA

July 14th, 2012
9:50 pm

“not be a free riding moocher.”

And how will you go about forcing people who are living hand-to-mouth to take enough out of their already miniscule income to be invested?

BRW

July 14th, 2012
9:51 pm

So MiltonBoy, where’s the name of that company you work for that’s gonna screw you when national healthcare takes effect?
I want to check that one out for myself.

DebbieDoRight - A Do Right Woman

July 14th, 2012
9:52 pm

Also, interesting that there is zero mention of JP “donating” almost $1 million to Obozo. How much did the crooked Corzine donate to the clown-in-chief?

IOW — No matter WHAT the topic, I’m gonna find a way to put Obama’s name into it. A dog catcher in Cleveland got caught kissing the dogs?

How much money did he give to Obama?

A 5 year old girl get stuck in an elevator for 12 hours?

How much money did she give to Obama?

SoCoBro makes headlines by finding 11 bombs on 4 planes?

How much money did he give to Obama?

Dolphins fire that wuss Saban so he goes running to some broken down team in Alabama?

HOW MUCH MONEY DID HE GIVE TO OBAMA????!!!

flagboy?

July 14th, 2012
9:53 pm

ByteMe, I looked at the first one. It’s from April of 2010. By the end of 2010, the SEC had dropped all charges against Moody’s. As for the other one, the class-action lawsuit. . well. . good luck with that. Highly doubtful.

I would consider it to be more political grandstanding (illinois AG) than anything else.

barking frog

July 14th, 2012
9:56 pm

Doggone/GA
I will adopt the same plan
used in PPACA, subsidize.

Kamchak ~ Thug from the Steppes

July 14th, 2012
9:57 pm

Weird.

You wanna know what’s weird? (well, not so much weird as OMG you got punked by a fake website)

Somebody (that somebody being you, Thomas Heyward Jr.) posted a story about a Wisconsin wedding being attacked by a Predator drone.

What a naif!

Not a Neal Boortz Redneck

July 14th, 2012
9:57 pm

Moody’s and S&P were immune to lawsuit before 2010 (Dodd Frank) – they had free speech protection under the First Amendment (like a movie reviewer). Hey, its a good movie/bond.

Now they fall under the same law as auditors as “specialists” and you can sue their butts off for a bogus AAA.

flagboy?

July 14th, 2012
9:58 pm

Barking, I get the idea.

DebbieDoRight - A Do Right Woman

July 14th, 2012
9:59 pm

There are over 70,000 employees of the SEC,the DOJ, and the FBI.

What a crazy comment — let’s put this in perspective why don’t we?

70K+ in THREE government agencies /(divided by) 40B+ people/(divded by) the number of banks = Tough Luck and a lot of overtime.

Doggone/GA

July 14th, 2012
10:00 pm

“subsidize.”

Yes? And how does that square with “not be a free riding moocher.”? If you are subsidizing someone’s retirement savings, aren’t you allowing them to “mooch” off the rest of us who don’t need a subsidy?

barking frog

July 14th, 2012
10:08 pm

doggone/ga
not under the PPACA plan
because you must pay if
you have money and if
you have no money and
can’t pay it negates the
free ride moocher thing
unless you are a conservative and can’t
comprehend this.

Doggone/GA

July 14th, 2012
10:11 pm

“if you have money and if you have no money and can’t pay it negates the free ride moocher thing”

If you have no money and can’t pay it “negates” what? This reads as if you left something out.

GT

July 14th, 2012
10:12 pm

The rich are happy pointing out the crimes of the poor as if they are morally superior. The real scare here is where is law and order when the powerful have sold out?