Tag Archives: George Bush

Elliot Spitzer Uncovered AIG Ponzi Scheme

Sept. 18, 2008   Elliot Spitzer Uncovered AIG Ponzi Scheme – Cooking The Books

Back during the election Senator John McCain’s solution to the AIG woes was to hire more lobbyists to study AIG collapse. He may have included his friend Phil Gramm who is well versed and tied to the Deutsche Bank which invested in the derivatives Ponzi scheme of AIG.

The Bush administration knew full well that the high risks of no financial regulations -and the Republicans were purposefully asleep at the wheel. Gramm was one of the engineers of the deregulation during the Bush administration and the one who helped the foreign Deutsche Bank recover their losses with US bailout money.

bush and mccain

The culture of the high risk Wall Street Casino benefited many Republican CEO’s as the cause of economic ruin due to complex multi-tiered manipulations of accounting procedures unchecked by the Securities and Exchange Commission and the Department of Justice.

The downfall of AIG began years ago with very poor and deceitful accounting procedures creating a false impression of its earnings the giant has been falling for years. AIG has been facing investigations for years on overstating the values of their contracts which are called credit default swaps or credit derivatives in the new method of cheating the system.

Credit derivatives value comes from credit risk on an underlying bond, loan or other financial asset. The reference entity maybe a corporation, the credit risk is on an entity other that the parties to the transaction itself. Basically AIG was selling insurance policies on bad loans.

AIG

Over 400 billion dollars worth of derivative contracts were established under the direction of Maurice Greenberg who since 1968 was the Chief Executive Officer of AIG responsible for its operations. Maurice Greenberg replaced the former Chief Executive Officer – C.V. Starr who died in 1968 and Maurice has been at the helm steering this ship closer to all out thief and wrecking the company for decades.

When AIG was doing deals which comprised 40 percent of its net worth in derivatives, it was dangerously close to overload on net worth. Meaning, AIG was trading more paper than the company was actually worth.

Maurice ruled with an iron fist and even the board of directors must have approved this risky exposure to losses. Quite simply the derivatives’ values were overstated and AIG used improper accounting methods simply following Enron’s methods of “cooking the books”.

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John McCain -the Bragging and the Truth

Revised: March 3, 2010

If John McCain wants to talk about his security record for the last 20 years the country has not been all that secure. The attacks on September 11th proves that national security was not high on the Bush administration agenda.

If he was the Senator interested in national security as he claims to be why then did he not single handed stop the 9/11 attacks on the World Trade Center is the question.  John McCain was not interested in national security until after the attacks and it happened on his watch as well as George Bush.

The one point to remember about the George Bush Republican administration was the insecurity after 9/11 which allowed Bush to invade the wrong country under false information given to the country and the government.  It was Bush who was asleep at the wheel and McCain who’s war record and impeccable history of defending his country did nothing to protect against terrorists or their attacks. McCain only reacted after 9/11 and his bragging about his war record is based on lies and crashed jets over and over again.

McCain’s memory and flip flop are becoming evident in these videos which contrast the bragging and the truth as in his various statements he contradicts himself. During his visits to Iraq you can plainly see McCain wearing a bullet proof vest as he claims Bagdad is safe which is totally false.

The McCain security policy would see us in an invasion of Iran and a continuation of a 100 year occupation of Iraq until the US declares complete bankruptcy.

Also in the Youtube Video you can hear contradiction in John McCain’s statements on the economy.

Tags: McCain, security risks, mccains security record, World trade center, George bush, 9/11, politics, politicol news, election 2008, democrats, republicans.

George Bush’s Goodbyes at Republican Convention

 

One can hardly wait for George Bush’s speech tonight via giant plasma at the Republican National Convention due a hurricane 2 days ago. It is unclear on how the Republican delegates view this as an act of God or are feeling relieved that Bush and Cheney will not be attending in person. There has been a countdown to the end of the Bush regime and the election that will see the moving trucks pulling up to the Whitehouse. This is after all a final good bye to George Bush and its has been a long eight years of his service to his country.
The speech will follow all the other speeches which endorse the new incumbent and how secure we will feel with John McCain having his finger on the “nucler” red button. In comparison of who was the worst of the two Bush or McCain the latter does not inspire more confidence in judgment.  We will hear the usual partisan compliments to Sarah Palin as an accomplished stateswoman with high quality executive experience as the Mayor of Wasilla and Governor of Alaska.
George Bush Gives Republicans the Finger
The Bush speech will touch upon his own opinion that he is fully confident that McCain –Palin ticket will lead this country into prosperous economic times, drilling for more oil, and lead us into salvation from the terrorists. Bush will warn us of the Democrats raising our taxes and again extol the virtues of Republicans being the safer party against Ben Laden and that the surge was a roaring success.
The Convention will rise to their feet and applause will be heard in loud cheers all the way to Alaska in the hopes that it will drown out the questionable vetting of Sarah Palin. The controversial Vice Presidential choice of John McCain has Republicans reeling in regards to pregnant unwed daughter Bristol Palin and her inexperience in national government. Palin’s record of tapping into the pork barrel ear marks with a gluttonous money grab of 197 million dollars for Alaska is now under great scrutiny. The vetting of Sarah Palin was inadequate and would not pass the mustard for a job at Wal-Mart or McDonalds.
Although Wal-Mart has endorsed McCain by using management type pressure meetings with employees indicating it would be in the company’s best interest for workers to vote for McCain as he opposed the formation of unions.
The torch will be passed from the incompetent George Bush to the maverick John McCain as he fondly describes himself, and one has to wonder about the power of the Evangelical vote to self destruct the Republican Party in this election. Somewhere in the midst of the convention we will hear from the illustrious Joe Lieberman who could not make the drive to Denver.
We will hear a speech from John McCain who will accept the nomination of his party and followed by his record as a POW, noun and verb included ad nauseam. Then Sarah Palin will explain how experienced she is in fighting bureaucracy and how she is a reformer like McCain.
Yes the Republicans will get all fired up and ready to go, but where are they taking us?
There really is not much in the way of reform in their respective views to get excited about and we really do not know enough of Mrs. Palin’s two years of experience is all that pitted with great innovative policy change or reform. After we wake up from our coma we will see the Republicans wave their funny hats and a large array of balloons will fall while protesters and journalists are arrested outside the Xcel Energy Center in Dayton Ohio. Good bye George.
Tags:
Bush speech to RNC, RNC, Republican National Convention, 2008 Election, election news, politics, political news, John McCain, Sarah Palin, vetting Sarah Palin, pork barrel, evangelical, evangelical vote, Alaska, Bristol Palin, Wal-mart, Wasilla, pork barrel earmarks, Presidential election, George Bush.

Lieberman’s Damage to Democratic Win

Joe Lieberman’s intentions to speak at the Republican National Convention is damaging the chances for a Democratic win in November’s general election. Lieberman has been tagging along John McCain’s campaign trail for the last 18 months, and went to Iraq with McCain.
As Chairman of Home Land and Government Affairs Committee Lieberman is using those positions to advance his own Republican agenda and beliefs. Lieberman supports military action against Iran leading the US into a third war and as the Senate Democratic Caucus he supports George Bush’s war in Iraq. Lieberman calls himself an Independent but supports the Republican platform of war and more wars especially involving threats against Israel.By putting his own interests first instead of his constituents he is accomplishing distrust and damaging the Democratic Party’s chances for the 2008 election. Lieberman’s position on Iran also opposes the majority of Americans who do not want further wars that will bankrupt this country.
The turncoat tactics of Lieberman is to play both sides against each other at the cost of his Connecticut voters who did not vote for a Republican candidate.
Lieberman by putting himself in the hands of John McCain all that he stands for today which is that he is assuming giving tax breaks to big corporations who are outsourcing American jobs, the continuation of the wars in Iraq, Afghanistan and possibly engaging military action against Iran, offshore drilling which continues the dependency on oil, and doing nothing to fix the disastrous US economy.
No new policies which would help with gas prices, inflation, foreclosures and criminalizing doctors and women for having abortions. In essence Joe Lieberman would want to continue the 8 years of George Bush policies which would indeed destroy the United States as we know it.
52,212 people signed a petition to get rid of Lieberman through the Senate Democratic Steering and Outreach Committee.
The petition is worded:
“We CANNOT tolerate a leader of the Senate Democratic Caucus who supports George Bush and McCain’s War in Iraq. We CANNOT tolerate a Democratic chairman of the Homeland Security and Government Affairs Committee who endorses and stumps for McCain. We call on the Senate Democratic Steering Committee to strip Joe Lieberman of his chairmanship and his leadership role”.
Why the Democratic Party did not strip Lieberman of his positions well before the election in November, hoping he would change his tune is anyone’s guess. This was a weak decision on the part of the Democratic leadership and not only causes great disharmony it will damage Obama’s chances to win this election.
Perhaps rather than blaming Hillary Clinton for Barrack Obama’s recent decline in the polls the Democratic Party must look at their own failed choices.
Tags: Lieberman, Democratic party, republican national convention, Republican,
Senate Democratic Caucus, John McCain, George Bush, Republican platform of war, big corporations, Iraq war, Afghanistan war, Barack Obama, Election 2008.

Obama’s Energy Plan

Updated Jan. 29, 2011 Obama’s Energy plan has yet to materialize after his campaign promises in 2008 of five million green energy jobs for Americans we have yet to see them.  The national goals of for real green energy although he mentions China’s investments in solar panels are yet a thriving business in the United States.

The investment of 150 billion dollars for clean energy disappeared when the focus was on the health care bill which barely passed the house and the senate. Where is the green energy investment going to come from in terms of cleaning up the US polluting energy sources.

The need for clean energy was seen in 2010 when British Petroleum dumped an obscene amout of crude oil into the Gulf of Mexico virtually killing all life and a few industries.  The gulf is dead and although the EPA and the Obama administration are covering it up the Gulf of Mexico is a dead body of polluted water.  The 20 billion dollars that BP supposedly is giving to the US is no where to be seen and businesses that were shut down have not recovered their losses.

So much for the promises of Obama on the campaign trail he is a good talker, on the reality level he has betrayed his words.  No fancy speeches make a President worthy and this man has betrayed his own oath and his soul.

Aug. 5, 2008  Today was the unveiling of Barrack Obama’s energy plan campaign proposal. His 150 billion dollar revamping of the country’s energy system also reverses his earlier position on offshore drilling in limited amounts.

The Obama Energy Plan Which Never Materialized Two Years Later

- 5 million green collar jobs for Americans

-National Goals for Energy Efficiency

-Investing 150 billion for clean energy

-Ensure 10 % of electricity comes from renewable sources.

He praised T. Boone Pickens who says foreign oil is killing our economy and he is from Texas. The total output of 85 million barrels of oil produced per day in the world is not produced by Exxon Mobile the largest American oil company that recently posted record billions of dollars profit.

While he did not reveal or emphasized his plans on solar and wind power he did praise T. Boone Pickens plan to improve the energy situation and get us off our dependency on foreign oil. Obama’s plan also allows for some release of the strategic petroleum reserves as a short term plan which he states would offer temporary and immediate relief from high gas prices.
Who is promoting tax credits for homeowners energy tax credits for using solar or alternative energy retrofits to their homes? Obama’s has planned for tax credits, and rebates for homeowners that reduce their energy consumption by using new green technology.
No Real Leadership on Energy-Green Energy becomes Brown Energy
No Real Leadership in 2011 on Energy

That idea was never persued by George Bush and in the last 8 years we have lost precious time. Bush never promoted an viable energy plan which would have put American further ahead but he did not think it was a great urgent matter. Basically because George Bush did not believe in global warming but being an oil man his preferences were for more consumption of foreign oil.

In fact during his tenure President Bush asked OPEC to produce more oil and open up more production which is a thought that most people today would reject.  When you become dependent on another country for the mainstay of your country which is oil -you become a co-dependent oil junkie.

The Bush plan was to continue more oil consumption and as the oil addicts we are the Betty Ford Clinic can not cure us, we must cure ourselves of depending on gas driven vehicles running on foreign oil.

TAGS: Obamas Energy Plan, foreign oil, OPEC, President Bush, George Bush, Barack Obama, New Energy for America, President Obama, Obama foreign oil dependancy, politicol new.
Updated: Jan. 29, 2011