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Video: Rep. Marcy Kaptur Takes Wall Street to Task
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YouTube
September 20, 2008
Rep. Marcy Kaptur gets it right — sort of. Wall Street and the banksters are not irresponsible, as she claims, they are criminals who methodically plotted to loot as much money as they could from the markets and then turn the corpse over to the American people, who they know will be obliged to pay for the damages.
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September 20th, 2008 at 11:31 am
omg i’m CUMING!
September 20th, 2008 at 11:44 am
Right On Marcy!!
September 20th, 2008 at 11:45 am
the video of that girl farting is stunning.what an amazing source of information.
September 20th, 2008 at 11:52 am
you go girl
September 20th, 2008 at 12:18 pm
You tell them girl, I will have you know that you have alot of people behind you ready to kick some ass.
I ask you all now to stand up and denounce the IRS and all other taxes. If that doesn’t solve the problem their is only one other solution.
September 20th, 2008 at 12:34 pm
How about wake up CONGRESS. Oh yeah, they are bought and paid for too, by the Zionist Banker Cartel.
September 20th, 2008 at 12:55 pm
Here’s a great short article I found that will explain a few things about Wall St. and the credit fiasco from brasscheck tv:
A short explanation of how we got to where we are
Today’s banking crisis is the THIRD trillion dollar plus
US-caused financial meltdown in the last twenty years.
Each one of these crises came into being through the same basic
mechanism…the fraudulent over-valuing of financial assets by
Wall Street – with a “wink and a nod” (and sometimes a lot more)
from the White House and Congress.
The fraudulently valued assets stimulate the economy, impart
the illusion of health and then, inevitably, the fraud goes
too far and the whole house of card comes painfully crashing
back to earth.
The three trillion dollar plus frauds were:
Fraud #1: The so-called “Savings and Loan Crisis” of the late 80s
Fraud #2: The so-called “Tech Bubble” of the late 90s
Fraud #3: The so-called “Credit Crisis” of today
*** How the scam works
The mechanism of these frauds is simplicity itself…
…Take a shaky financial asset and blow up its value
and then sell as much of it as you can.
In the “Savings and Loan Crisis,” the instrument was junk bonds.
In the “Tech Bubble” it was Internet stocks.
In the “Credit Crisis” it was individual mortgages collected
into pools and then re-sold to investors.
In each case, normal, well established “bread and butter”
financial principles were consciously thrown away by Wall Street
with no hint of protest from federal regulators.
***The “Savings and Loan Crisis” dissected
Junk bonds caused the Saving and Loan crisis which
resulted in the US taking over the assets of hundreds of
banks and selling them back over time to the marketplace
at fire sale prices.
Junk bonds, which caused the “Savings and Loan Crisis” were
shaky bonds that were pumped up by deliberate misrepresentation
and what I call “staged dealing.”
Bonds get their value from two things: the amount of interest
they pay and how safe they are.
“Junk” bonds have to pay higher interest because they are less
safe. Therefore, until the “Savings and Loan Crisis,” savings
and loan banks banks were not allowed by law to buy them and call
them assets.
Reagan/Bush changed all this and then a group of Wall Street
fraudsters used the new loophole to kick off an orgy of junk
bond creation and junk bond selling to banks and insurance
companies.
The crooks would deal the junk bonds back and forth
amongst themselves thereby establishing their “value”
and then they’d sell them to outsiders. The bonds
then became “assets” which could be borrowed against
and leveraged to buy even more bonds.
When the bonds failed, the banks failed and in stepped the
US government to “fix” the problem that it created at the cost
of at least one trillion dollars to US tax payers.
Deja vu, eh?
***The “Tech Bubble” dissected
The instrument of fraud in the “Tech Bubble” was Internet
stocks, start ups in particular.
A stock gets its value from the underlying company’s sales,
its growth and its overall prospects for the future.
Pre-tech bubble, companies used to have to prove themselves
by being in existence for several years before they could
be sold on major exchanges. That standard was thrown away
during the tech bubble.
To pump of their values, the companies engaged in
“staged dealing” just like the junk bond crooks.
Company #1 would “sell” 20 million dollars in banner
ads to Company #2 which would in turn “sell” 20 million
in banner ads to Company #1.
In fact, nobody sold anybody anything. Company #2 ran
ads for Company #1 and billed it for them. Company #1
ran ads for Company #2 and billed for an equal amount.
These should have been called media trades not sales, but
Wall Street was happy to claim them as legitimate cash sales
and then use the sales numbers to fraudulently value these
companies – many of them totally worthless – in the
hundreds of millions and sometimes even the billions.
***The “Credit Crisis” dissected
By now, you see how the scheme works.
It’s not complicated at all.
You take near worthless pieces of paper (junk bonds, stock
of start up Internet companies, etc.) and declare them to
be good as gold.
Then you create as many junk bonds and Internet start up
stocks as you get and sell them as fast as you can.
In the case of our current crisis, the instrument of fraud
was so-called sub-prime mortgages.
Previously, sub-prime mortgages had very little trading value.
Only people in the sub-prime industry itself dealt in them and for
good reason. They’re tricky to value and packed with financial
peril.
But Wall Street changed all that.
Wall Street said: “If we take LOTS of these mortgages and assemble
them into large pools and then slice and dice the pools in various
ways, we can sell the slices to banks and other investors as AAA
paper.”
It sounds crazy, doesn’t it?
If the underlying pieces of paper are garbage, how does assembling
a whole bunch of garbage into one place make it “better?”
It doesn’t, of course, and this is a principle even a three year
old child can understand.
But greed and the need to pump up a shaky economy for propaganda
purposes are two very strong motivators.
Banks created these mortgage pools, sold them to each other,
and they by virtue of these “staged sales” declared them valuable.
Do you recognize the pattern now?
If you do, then you are now smarter than all the assembled j@ck@sses
who do financial reporting because they apparently can’t – or
won’t.
This is the THIRD trillion-dollar plus fraud driven financial
meltdown in twenty years and apparently no one in the financial
news media can see how it happened.
***But there’s more…
Junk bonds were mass manufactured as fast as the crooks could
invent them. Ditto for Internet stocks.
But how did hundreds of billions of dollars worth of “toxic”
mortgages suddenly come into being?
Why did the mortgage industry change its lending standards so
radically and so suddenly to make their creation possible?
And why did real estate lending regulators in all 50 states –
because real estate lending is a STATE-level issue not a federal
- go along with it?
Here’s where it gets very interesting…
The fact is state-level lending regulators were VERY concerned
about what was going on. They have been for years.
And they not only expressed their concern clearly, they also
took SERIOUS concerted legal action to stop lenders from making
bad real estate loans to their citizens.
(Most of the sub-prime loans in the news so much today were
designed to screw the people who borrowed the money and can
rightly be called “predatory” loans.)
Guess who stopped the states from enforcing their own time-proven
real estate lending laws and thus created the raw material that
made the current “Credit Crisis” possible?
*** The trillion dollar plus question
If you’re a US taxpayer, you’re going to pay for this fraud
so you might as well know who did it to you.
His initials are GB. (George Bush)
You know him well.
But perhaps more interesting is the name of the person who
single-handedly rallied first state attorneys general and then
fellow governors to fight the creation of these loans and who
in the process became Public Enemy #1 to the Bush Administration…
His initials are ES. (Elliot Spitzer)
If you follow “silly” US political scandals, you’ll recognize
his name instantly when you hear it.
And you will *finally* understand why he was quickly and
permanently assassinated politically earlier this year.
Had ES been allowed to “live,” he would have been in position to
remind everyone every day of who made the current meltdown
possible.
Instead, he was silenced very effectively. Not with a bullet
in the back of the head, but the net effect was just the same.
So effective was his assassination that no one can even
mention his name in connection with today’s crisis without
risking ridicule, or worse.
End:We need more Marcy’s on Capital Hill!
September 20th, 2008 at 2:52 pm
Well if they wanted to implode the economy it would have been done already so they seem to be holding out for something question is what. The election? An assualt?
September 20th, 2008 at 2:58 pm
Now that we are all part owners of CIA-IG, and all of the other alphabet soup fronts past, present and future; can we (the shareholders) review all financial records, without redaction, retroactive to the conception of each company? We need names, bank account numbers, property ownership physical locations, business interests, phone records, criminal records, etc….
Then we need a well-armed hit-squad, of legal eagles of course, to rummage through the lives of these good people.
September 20th, 2008 at 5:39 pm
Leaving it to the tax payers? Bullshit. We didn’t sign papers to any of these bailouts. We didn’t create the circumstances or plot the ponzy scheme that hatched the rotten financial egg. Besides, when most or all of us are unemployed and destitute how will the bill be paid anyway?
September 20th, 2008 at 10:09 pm
I knew that there had to be an American with balls…i’m just surprised it was a woman. The reason i’m surprised is, for the last seven years all the “tough” Infowar talk has been from the male persuasion.
One woman with the “guts” to tell it how it is!
Thousands of “male” Infowarriors with not enough “guts” to stand up for the rights of “all” children!
A very pathetic and cowardly lot are the American “male” persuasion of the modern era. Content to post comment, retort, reply and all fueled by an endless stream of Infowars article submitters. This constant flow of articles, of which a large percentage is conjecture to say the least, is distracting the serious “truth seeker” with information overload. As the site is operated by Alex Jones…he needs to take a good look at the way he gets the “truth” out there…is he providing a medium for information or distraction…you be the judge!
And remember you “males” have had seven years to stand up to this Globalist corruption…when do you plan on growing some balls???
September 20th, 2008 at 10:51 pm
Post 12
As much as i don’t like saying it, you sir are 100% correct.
September 20th, 2008 at 11:00 pm
Please excuse my language bitch fuck slut cunt whore but i suffer from Asperger Syndrome (google it).
Well said fuck cunt shit poster twelve. You won’t be prick fuck slut whore popular, because people don’t cunt cock fuck shit mole slut whore like the truth.
People need to fucking cunt come together and unite prick bitch slut to fight the NWO threat piss cock fuck mole cunt. Stock up on slut fuck whore food and other bitch slut whore fuck cunt essentials.
Peace to fuck bitch cunt whore slut all.
September 20th, 2008 at 11:04 pm
*12 WakeTheFuckUp
My sentiments exactly.
September 20th, 2008 at 11:12 pm
Straight to the point number twelve and what you say is why we are in the shit we are in. I wish that more Americans including myself had the balls to stop this madness before it is too late. And i fear it is too late.
You keep speaking the truth number twelve cos it is long overdue.
September 20th, 2008 at 11:24 pm
Post “12″
You have said what i have been thinking for years now. These computer game playing boys of today are not near as feisty as the girls. And i don’t think it will be long and it will be the boys we see wearing the dresses. Boys from the country still have it together mostly and thank goodness for that. I know my dear old husband would not of put up with what is going on today, him and the men from his era would have stopped it long before it got as bad as it has.
God help us all
September 21st, 2008 at 12:53 am
That’s it! Marcy….
I like this woman….
“None of the upside and all of the downside.” Truer words were never spoken..
Thats right, Col. Kurtz form Goldman Sachs is only covering his own jew-boy, Hickey-Freeman,
stinks like 4-day old gaveltafish crowd. God-damned fucking hebrew thieves….
What is my piece-of-shit congressman doing? NADA…..
A couple days of a short covering ralley and then watch out!!!
taxation w/out representation
I think that’s what led to the new Tea arrangment with King Geo. III in Boston Harbor?
September 21st, 2008 at 1:56 am
Financial crisis: Default by the US government is no longer unthinkable
By Liam Halligan
Last Updated: 12:57am BST 21/09/2008Page 1 of 2
So, here we are – the start of a new world order. After the tumultuous events of the last fortnight, the global economic landscape will never look the same again.
Hard times: central banks have acted to avoid a repeat of 1929
Power has tangibly shifted – away from the United States and the Western world generally, and towards the fast-growing giants of the East. That’s been happening for some years now.
But September 2008 marks the moment when the scale of our excesses, the extent of our debts and the moral bankruptcy of our financial regulatory system finally began to be truly exposed.
I say began to be exposed. Back in March, Standard and Poor’s, the US ratings agency, estimated some $285bn (£156bn) of mortgage-backed securities would eventually be written-off by the global banking sector. On Friday, almost unnoticed amid the panic, that forecast was upped to $378bn.
In reality, total credit losses will be much higher – at least $750bn in my view. But the extent of the 33 per cent one-off increase in S&P’s estimate speaks volumes. It reflects just how little anyone truly knows about either the ultimate size of the sub-prime losses or who ultimately holds the related securities.
advertisement
But with one in ten US mortgages now “delinquent” or “in foreclosure”, and house prices still falling, such “toxic waste” is burning holes in balance sheets wherever it sits. That’s why this crisis is far from over.
Don’t panic, this is not a 1930s rerun
Comment: Capitalism is far from dead
Dan Roberts: Putting the crisis on hold
It’s difficult to overstate the enormity of what happened last week. By any standard, the collapse of Lehman Brothers was a dramatic – and alarming event. One of the biggest names on Wall Street, the 158-year old bank was consumed by the scale of its losses and crippled by executive feuds. Deemed by the US Federal Reserve to be “sufficiently unconnected” to the rest of the global financial system, Lehman was allowed to fold.
In contrast, American International Group, the world’s largest insurer, was judged “too interconnected” to collapse. So the Fed effectively “nationalised” AIG – the biggest rescue of a private firm in human history. And it’s only a few weeks, of course, since the even more expensive bail-out of quasi-government lenders Fannie Mae and Freddie Mac – which, between them, account for a mind-boggling $5,300bn of mortgages, around half of America’s home loans.
On top of all that, US Treasury Secretary Hank Paulson sent an $800bn financial rescue plan to Congress. He wants to create a second “Resolution Trust Corporation” – or government-owned asset management company – to take on illiquid mortgage-related debts. The original RTC was established to rescue the US Savings and Loans Associations that went bust in the 1980s.
And by the way, the Fed has also just offered another $125bn of liquidity to banks outside the US that are desperate for dollars and can’t access America’s frozen credit markets – a move co-ordinated with central banks in Japan, the Eurozone, Switzerland, Canada and here in the UK.
The combination of these measures – each of them of enormous significance in its own right – sent stock markets shooting-up on Friday. America’s S&P 500 rose 4.03 per cent and London’s FTSE 100 soared 8.84 per cent, its largest one-day rise ever. But, despite the end-of-week euphoria and trader-talk that “the only way is up”, despite America’s undoubted resolve and Paulson’s determination to do “whatever it takes”, the situation remains very fragile.
Nothing better reflects the amount of fear among banks in America – banks everywhere – than the sky-high rates they’re continuing to charge when lending to each other. Ordinarily, inter-bank (or Libor) interest rates are only slightly above base rates. But with so much uncertainty remaining about the scale and occurrence of “sub-prime” – and with desperate bank executives still so reluctant to “fess-up” their losses – the US Libor rate on money to be paid back in three months is now a staggering 1.5 per cent above base. In recent weeks, Libor rates have shot up in other countries too.
The week that broke the banks
More on economics
More Liam Halligan
Paulson’s latest liquidity injection has lowered over-night Libor rates for now. But, despite the torrent of cash the US has directed at the credit markets, longer-term inter-bank rates have stayed stubbornly high, and some have gone up further. In other words, even the banks themselves don’t think the rescue plan will work. Expect more – and bigger – liquidity operations in weeks to come.
The trouble is, though, as the bill for these bail-outs keeps rising, so does the possibility that the political consensus will crack and there’ll be an almighty, and debilitating, dust-up. Paulson’s RTC plan, in theory, could restore confidence. By taking sub-prime loans off banks’ books, it could de-ice the inter-bank market, restoring credit lines to households and firms and preventing the “credit crunch” from shifting wholesale, in that fabled phrase, “from Wall Street to Main Street”.
Continued
September 21st, 2008 at 2:04 am
my message previously was snatched by censorship desk jockeys
the movement that is being put upon the nation is the transformation of the american public from:
sovereign citizen, to naturalized citizen, to contractor citizen.
they will do the last step two ways: a) US real ID b) the current reorganization underway to bail out the financial instutions
Henry Paulson gave a contract to congress and said sign this quick : If they had, our nation would be changed on the spot.
they are out of options, what they need to do is the suggested hostile proposals.
COG, continuity of government is temporary, so they must make it permanent.
ALL contractor agencies that willfully disregard the Constitution of the United States for the purposes of COG are invalid, illegal, and will not hold under national scrutiny.
Do not engage agaisnt the american public, it is unlawful and will result in legal prosecution, fines and jail sentences.
And pray that now in the final hours of the pre planned wanton destruction of the united states of america by financial and legal proxy that the resourcefulness of our own people makes the much needed difference to flip this monster off our backs.
God Bless the USA.
September 21st, 2008 at 6:43 am
…Ah-bdi… This mama will knock you upside the head , but this sorry ass congress is too
engrossed digesting their burgers and circumventing terminal constipation to afford giving a flyin’ !!!
September 21st, 2008 at 7:21 am
WOW you go girl at the end she really slammed it home.
September 21st, 2008 at 8:52 am
I highly suggest everyone of you get a wall tent and a tent stove that can burn wood or coal. These things are a must and wont be available after the SHTF. Dedicate so much money per week even if its $20.00 to stocking up on future food. Buy a cheap shortwave radio that you just wind up (no batteries needed). And dont worry if noone will believe you, you will have more than enough believers (conspiricy nuts) soon.And if any of you are in the big cities GET OUT NOW, GET OUT NOW. If your buying a house in the big cities, rent it out and go in the country where you can easily retreat to wooded areas. I can assure you this will be a time of trouble such as not seen since the world began. God Bless.
September 21st, 2008 at 9:06 am
*praise marcy fighting the good fight since nafta & perot*
Ron and Ralph Fool’s Overture. History recalls how great the fall can be, while everybody’s sleeping the boats put out to sea. Borne on the wings of time, it seemed the answers were so easy to find. “Too late” the prophets cry, the island’s sinking let’s take to the sky. Called the man a fool, stripped him of his pride, everyone was laughing up until the day he died. And though the wound went deep, still he’s calling us out of our sleep.
Apocalypse Now
September 21st, 2008 at 9:46 am
…Ah-bdi… For anyone that’s interested , i was a pig in a previous life. I have always been a strong believer in reincarnation !!!
September 21st, 2008 at 10:58 am
Once again I say.
The International JEW is the root of all evil in the world. Remove the root, and your problems cease to grow.
September 21st, 2008 at 2:44 pm
…Ah-bdi…#25 “Porky pig” All I have to do with a sneaky moron like you , is change my handle
to “Kim” , “Suzie” or “Deborah” , and you’d be jackin’ off all over your bin !!!!! But thanks for the attention !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
September 21st, 2008 at 3:14 pm
The highest courts let all the CA accounting firms bilk the investors of their money and skate away. Why would you expect anything different for the Bankers. The new form of taxation or fraud, you decide? This is how billionaires are made. China shoots these people and in Japan it is hara-kiri and shinjyuu.
September 21st, 2008 at 3:24 pm
…Ah-bdi…#25 “Porky o’ my ass” Better a pig in my last life , than a pig in my next life , like
what’s gonna happen to you , after a guided tour of the 28 hellish planets in this universe
of course ( don’t worry , all costs are on the house !!!!! )
September 21st, 2008 at 3:41 pm
READ POSTS #7 AND #12 (only after viewing the video)
P.S.
Ignore the stupid comments there’s good info on here
September 21st, 2008 at 7:02 pm
#14 it’s tourettes syndrome that makes you swear and cuss uncontrollably. From Wiki: Tourette’s was once considered a rare and bizarre syndrome, most often associated with the exclamation of obscene words or socially inappropriate and derogatory remarks (coprolalia).
Asperger syndrome is an autistic associated disorder. Your full of shit #14! You don’t even know your own disorder? you just wanted to spam this site with your stupid post. Nothing wrong with cussing when needed but yours is stupid and ridiculas.
September 21st, 2008 at 7:04 pm
#12 congress sold their balls long ago and it took a woman with a strap-on to do the job.
September 21st, 2008 at 11:26 pm
my son has tourettes and ive never heard him curse.
September 22nd, 2008 at 3:34 am
I have a very mild form of Tourettes…you fucks!!!! And MY ELECTED officals know IT!!!! WHY??? Because I’m “FUCKIN” pissed off!!! “All MOTHER-FUCKIN” HAIL Thermal Expansion!!!”
September 22nd, 2008 at 3:38 am
Kaptur, Kucinich, WTF is it with America that OHIOIANS bring mallets to disscusions??? Fuck It…It’s On!!! “All HAIL Thermal Expansion!!!”
September 22nd, 2008 at 9:37 am
How do we get this short C-span video to the sheeple of this country? Usually when I try to show someone this type of stuff, they act like they do not have time, but still watch primetime television, which is an even bigger time waster!!! How many people in Congress? How many have actually stood up for the American People? It’s truly sad that more do not stand up for the People and abide by the Constitution. I believe they swore an Oath, but only a very few have the Fortitude to actually live by the Oath!!! It’s a Damn Shame!!!
September 22nd, 2008 at 11:24 am
I wrote my congressman…hey I want bailed out too!!!! For those of us who work at minimum wage jobs with no health care and have to go through humiliation to get food stamps, yeah bail us out. Next time I get sued because my measley pay check pays for minum necessities, I’m going to tell the judge…send my bill to congress…BAil mE out too