最新ニュース | フォーラム | イギリスのニュース | 米国のニュース | 全体的なニュース | 政治ニュース | Sci技術のニュース | 戦争及びテロリズムのニュース | スポーツのニュース | マルチメディア | ホームページを置きなさい |
|
|
|
ウォールストリートエグゼクティブの前の曲げられた膝の議会
木曜日、2009年2月12日
によって ジェリーの白? 一まとめに脱出のお金の$125,000,000,000を受け取った米国の8つの最も大きい銀行からの経営最高責任者は家の金融サービス委員会火曜日の前に現われた。 ヒアリングはアメリカの財政のエリートの前に民主党および共和党の政治家の完全なprostrationのデモンストレーションだった。 議会委員会の前に現われることはLloyd Blankfein (Goldman Sachs)だった; ジェームスDimon (J P Morganの追跡); ロバートのケリー(ニューヨークメロンの銀行); ケンルイス(アメリカの銀行); ロナルドLogue (State Street Corporation); ジョンMack (モーガンStanley); Vikram Pandit (Citigroup)およびジョンStumpf (WELLS FARGO)。 一まとめにそれらは彼らの施設は世界大恐慌以来の最も悪い財政の溶解を沈殿させたが、何百もの個々の補償の何百万をここ数年にわたって受け取ってしまった。 これらの活動に深刻な調査を行なうことどころか、国会議員は服従とエグゼクティブを扱った。 それらは反訴がないが、議会は銀行家と財政システムの信任を元通りにするために働くことに重点を置いた。 証人は宣誓の下に置かれなかったし、または傷つくか、または告発証拠を明らかにする強いられなかった。 その代り、ほとんど彼らはレッスンを学んだら丁寧に頼まれ、より慎重に機能して準備ができていた。 財政の貴族政治へのこのobeisanceは委員会の議長の口論フランクの開始注目で要約された。 広まった公共の怒りが銀行に対して人々の圧倒的な過半数は「がらくた」が現在の財政システムほしいと思い、新しいものを造ること認められ、あった認められることマサチューセッツ民主党員の彼自身ウォールストリートからのキャンペーン資金の何百万の受け手。 但し、「時間および努力」はそのような提案を「実際的でなく」、主張されたフランクした。 再度働く財政システムを得るためには彼は言った、「私達はの内で働かなければならないだろうか。既存の施設。」」彼は70年の最も悪い危機に責任があるそれらの富そして特権へのずたずたに裂かれた金融機関の操作または一流の人員に本質的な変更が挑戦は言うまでもなくないことそれを明確にさせた。 フランクはその政治「ジレンマ」でそれから彼言った直面された政府を当った。 By funneling more public money into the banking system, he said, the same banking executives responsible for the crisis would be seen as the beneficiaries. This would only generate more public opposition, not only to Wall Street but to the government itself. Indeed, the insistence of the financial elite in looting the public treasury, even if it means the bankruptcy of the country, has put the government in an extremely difficult position. However, given the complete subservience of the government to the financial aristocracy, and its unquestionable defense of the capitalist system, the politicians were reduced to begging the bankers to clean up their acts and do the public relations work necessary to get through the next installment of public money. “I urge you going forward to be ungrudgingly cooperative,” Frank pleaded. “There has to be a sense of the American people that you understand their anger…and that you’re willing to make some sacrifices to get this working.” What followed was political theater in which the executives explained that they weren’t really withholding credit but had issued billions in new loans to consumers, students and small businesses. They made these claims even as report after report has documented the virtual drying up of credit. The banks have used public assets to pay out dividends to wealthy bondholders and finance multi-billion dollar mergers that have resulted in the destruction of thousands of jobs. The executives issued obligatory apologies for past “mistakes” and “errors,” pledged greater “accountability” and “transparency” and even said they would institute a three-week moratorium on foreclosures until the Treasury Department’s new bailout kicked in. Announcing that he would work without bonuses, John Mack, the CEO of Morgan Stanley, declared, “I know that American people are outraged about compensation packages,” although he did not offer to give back any of the $56 million he pocketed over the last five years. A few Democrats on the finance committee joined the act, railing against excess bonuses, taxpayer-funded travel junkets, private jets and the millions of dollars in fees charged by the banks to process their own bailout money. The posturing was aimed at deflecting criticism from the Democrats who, like the Republicans, are widely perceived as shills for the Wall Street banks. As one Democratic congressman complained to the bankers, “your industry and ours are suffering from a credibility gap with the American people.” In the course of the hearing it was revealed that Merrill Lynch, with the complicity of its new owner, Bank of America, had used accounting tricks to issue $3.6 billion in executive bonuses even as the bank was receiving taxpayer money. Bank of America’s executive quickly dodged any responsibility and the matter was dropped. Another Democratic congressman complained that the American people had been “screwed out of $78 billion,” citing a report issued last Friday by the congressional panel set up to oversee the first $700 billion bailout. The report revealed that Bush administration officials overpaid for banks’ “troubled assets.” The congressman lamely asked, “Will you recommend to your boards that additional shares be given to the government?” The bankers met the question with silence. Constantly in the background of the hearing was a fear that the banks and government were inciting a potential explosion as millions of working people were losing their jobs and homes, taking pay cuts and facing the prospect of destitution, while the financial elite on Wall Street is looting the US Treasury. Several congressmen read letters from their constituents. One expressed what millions think of the banking executives: “Put them all in jail, which is where I would be if I robbed a financial institution.” Despite their vocal contrition, the Wall Street executives were intransigent on their demands for more bailout money. On the most important issue?the sale of the trillions of dollars in virtually worthless mortgage-backed assets held by these insituttions?the banking executives made it absolutely clear they would not sell them at the current market prices and were waiting for the Obama administration’s new bailout to make any sale far more lucrative. Abandoning their supposed commitment to the “free market,” the executives insisted the value of their assets should be pegged, not at the market value, but at some supposedly “fair value” that was far above their present price. In an attempt to justify this position, Citigroup’s Vikram Pandit declared, “We have a duty to our shareholders; if [the assets] are marked so far below the lifetime value we can’t do it.” However, if you get the funding flowing, he said, “then you will get a real bid.” Wall Street reacted with disappointment to US Treasury Secretary Timothy Geithner’s unveiling of the Obama administration’s new bailout proposals on Tuesday. Behind this reaction was disquiet that the proposals?though entirely geared to the interests of Wall Street?did not include a more explicit plan for the purchasing of these “toxic” assets. The details of this new transfer of wealth to the Wall Street banks are currently being worked out behind the scenes. America’s financial elite is holding the entire country for ransom in order to extract every penny from the national treasury. The only way to solve the crisis in a rational and socially beneficial manner is to break the grip of the financial aristocracy by transforming the banks into public utilities under the democratic control of working people. Have Your Say: Congress on bended knee before Wall Street executives Please read our posting guidelines before posting. Alternatively you can discuss this report here. Related News
|
Plane crash in NY state kills 49 Last post by loki @ 08:47 AM Go to Forum
| Latest Topics
Activists arrested because of UK Indymedia secret IP logging Last post by Unregistered @ 07:38 AM UFO filmed above Somerset coastline by holidaymakers Last post by paul w @ 04:23 AM So Is this 9/11 link going to go in to The Fringe? Last post by Mick @ 03:24 AM Cashless system is now on the cards Last post by Unregistered @ 10:53 PM New collapse footage of WTC7 and North Tower - Nov 2008 Last post by paul w @ 10:48 PM Black triangle UFOs 'not piloted by alien beings' Last post by Unregistered @ 10:45 PM VIDEO Documentary: Inside Beautiful IRAN Last post by Unregistered @ 07:59 PM GM crops continue to spread Last post by Nostalgia @ 05:04 PM Voice biometrics for UK banking? Last post by Nostalgia @ 05:01 PM  Email This Page To A Friend Latest Headlines
More Breaking News  Archive
|
TOP NEWS DISCUSSIONS |
LATEST NEWS DISCUSSIONS |
|
|
Top MI6 spy: Terrorism less serious than bird flu Lendman: Obama's 'War on Terror' |
I've had enough commented on: Lendman: Obama’s ‘War on Terror’ In short - business as usual. Well, this kind of arrogance is really going to... Continue Reading & Reply sandra busell commented on: War Crimes Conference - London, 20-21 February, 2009 I should like to bring to the attention of all those attending the conference,... Continue Reading & Reply Paul Herman commented on: Bush: US should have acted on Auschwitz Why did George Bush condemn what happened in Auschwitz, but did not condemn the massacre in... Continue Reading & Reply CR commented on: CIA Monitors YouTube For Intelligence Yes, I am commenting on one of the above commenters, ‘It is excellent that the SHEEPLE awake before... Continue Reading & Reply |
|
The views expressed in the RINF news wire and newsletter are the sole responsibility of the author (s) and do not necessarily reflect the views of the webmaster. RINF.COM: Breaking News & Alternative Media is Copyleft - Copy & Distribute Freely. News Forum |
Loading ...
