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Demonic Short Sellers
Citi's Destructive Potential Still Poses Systemic Threat
On Nov 26 04:26 AM investfarm wrote:
> You Damn Fools: You Should Put This Thing into Bankruptcy!
>
> Wall Street insiders know that last Sunday's $269 billion second
> bailout of Citigroup was intended to be only the first of a series,
> which will embrace most or all of the major banks. And that Sunday
> Citigroup fiasco was followed by Paulson's announcement Tuesday of
> an $800 billion Federal Reserve program to buy junk paper, making
> a total of over $1 trillion in new "bailout" commitments over a mere
> three days, and bringing the total up to about $8.5 trillion so far
> (over half of GDP), in the U.S. alone!
>
> In this setting, Lyndon LaRouche said today: "Why don't they try
> bankruptcy? We should put this out clearly: You damn fools; you should
> put this thing in bankruptcy! You don't have enough money in the
> universe to pay this bill! So why don't you admit it! We should say
> that; exactly that. We shouldn't do any reporting of this stuff,
> because reporting it is being impotent in the face of it. Just say
> that there's not enough money in the universe to pay this damn bill.
> They can't do it; they should declare bankruptcy, and just cancel
> all these damn derivatives. We'll protect the firms that are driven
> into bankruptcy, in bankruptcy reorganization. We have no other course
> except to put this thing into bankruptcy.
>
> "We're about to launch the greatest hyperinflationary burst in modern
> history," he continued, "unless we stop this. We're on the verge
> of a hyperinflationary explosion; they've been trying to conceal
> this hyperinflationary thing by various tricks so far. Now it can't
> work any more! So they've got to put the thing into receivership!
> Put it into bankruptcy now! That should be your headline on everything.
> There is nothing to do with this thing except put it into bankruptcy.
> Paulson, stop being a Christian Scientist! Take your medication!
> Don't be a Christian Scientist all your life; take your medicine!
>
>
> "This is not just U.S.," LaRouche went on. "This is international.
> As I had warned, this is now going into a hyperinflationary phase.
> And if you don't want to blow out the world system, you're going
> to put the damn thing into bankruptcy now! You're going to put the
> legitimate banks under bankruptcy protection, now! No protection
> for derivatives, none! But the banks which may be put normally into
> bankruptcy as a result of that, are put under bankruptcy protection,
> and the derivatives payments are suspended.
>
> "What that does, that's life and death time," he emphasized. "If
> you don't do it, you're going to lose the country! Are you going
> to do it?-- That's the whole point!
>
> Look, you damn fools,-- you don't know anything! This is the guy
> that knows what he's talking about; you damn fools haven't known
> what you were talking about all along! Now, this is what you're going
> to do if you've got any brains left! "And Paulson," LaRouche said,
> "I don't care if he's a Christian Scientist or not; he's going to
> take his medicine! Bankruptcy!
>
> "Bush may not like it," he continued, "but that's what you have to
> do! And, if you don't like the result, mail the bill to Bush! The
> Bush Administration itself, is going totally with the British line.
> And don't let this lame duck shit on your economy!
>
> "The main thing is, my statement should just dominate everything,"
> LaRouche told his associates. "Don't pollute it by coming up with
> other discussions and explanatory notes, which is what the usual
> mistake is. In this case, just say, as I've been warning, the hyperinflation
> is being unleashed. It's being unleashed over this Citibank thing,
> and this is the time to stop the bullshit. The policy must be to
> put Citibank and other banks under bankruptcy protection of their
> normal banking functions, which means freezing all claims based on
> the speculative investments called derivatives. No bailout for derivatives!
> Freeze them! Put the whole thing into bankruptcy and supply the protection
> to the regular functions of the banks. Then you don't have to pay
> out all that money, you damn fools! You don't have to put a nickel
> more into bailouts! Just put the thing under bankruptcy protection
> as I've told you all along, you damn fools!
>
> "Now, you damn fools, do as I told you!" LaRouche concluded. "You
> did it your way, and that was wrong, and now it's a hopeless case!
> You've got to do it now my way!"
>
Citi's Destructive Potential Still Poses Systemic Threat
On Nov 26 04:17 AM investfarm wrote:
> Congressman Charles B. Rangel of New York, the first African American
> chairman of the House Ways and Means Committee, and a leading Democrat
> who represents the Franklin D. Roosevelt impulse inside the Congress,
> is the target of an ongoing British bankers-directed character assassination.
> The attack is nothing less than a British operation to shred the
> U.S. Constitution with an assault on Congress, in the midst of the
> worst financial crisis in history.
>
> That the attack--led by the {New York Post} and the {New York Times}--comes
> the same week as the Citibank bailout engineered by Treasury Secretary
> Henry Paulson is no accident. Despite all of Paulson's assurances,
> Citibank is just the first of many, many more mega-bailouts, and
> just like before, Rangel is being targetted because he is an obstacle,
> who threatens to block the financier schemes to impose fascist looting
> on the population, while doling out un-Constitutional bailouts to
> the speculators. In the summer of 2008, the unlimited bailout of
> Fannie-Freddie, announced by Paulson on Sept. 7, 2008, which is tantamount
> to treason, had been rejected by Rangel's committee earlier. Rangel
> and his committee limited Paulson's ``bazooka'' to $800 billion,
> and insisted on making it transparent, by raising the U.S. debt ceiling
> from $9.6 trillion to $10.4 trillion.
>
> Now, with the financial crisis escalating, so is the attack on Rangel.
> The {New York Post,} owned by the Queen's own Rupert Murdoch, relaunched
> its attack on Nov. 23, shortly after Rangel was renamed Chairman
> of the Ways and Means Committee. The financiers' cabal had hoped
> that Rangel would be purged as part of a Pelosi shakeup that ousted
> Rep. John Dingell (D-MI), the long-time head of the House Energy
> Committee. Many House members opposed the replacement of Dingell,
> including Rangel, who said, ``This is the burial of the seniority
> system. I would be surprised if I was challenged, for the same reason
> that Mr. Dingell was very surprised.''
>
> As in the Summer, 2008, the New York ``Post and Times'' assault on
> Rangel has been based on innuendo. On Nov. 23, the "Post and Times"
> reported supposed tax fraud where Rangel claimed a ``homestead''
> tax status for a home in Washington, D.C., but "the property was
> sold more than eight years ago'' and Rep. Rangel's accountant has
> been asked to "retrieve the records about it," said a spokesman.
> Then, on Nov. 25, the {Times} hit with their version of a heavy weapons
> attack--a front page story, with a full page jump, saying that Rangel
> favored legislation in 2007 that opposed retroactive tax increases
> for U.S. companies that registered offshore, and that this helped
> a company called Nabors Industries by preserving its tax shelter.
> Before and after the legislation, a Nabors executive gave contributions
> to a library at the City College of New York (CCNY), for which Rangel
> had requested charitable contributions from some 47 corporations
> reported the {Times}. But the Times admits that Rangel has strongly
> opposed legislation for retroactive tax increases.
>
The Stock Market Is Not a Democracy
Buffett Serving Free Lunch? (Part II)
Liken it to your life insurance. It is there, you fund it, but you HOPE LIKE HELL you do not have to collect on it!
Berkshire's Puts: Not Such a Great Idea
Citi's Underwhelming Bailout
On Nov 24 05:39 PM Cheryl Cotterill wrote:
> Carefully consider the consequences that a bailout will have on the
> people. First and foremost, it takes away their constitutional right
> to due process. For example, anyone with a Citi credit card is now
> also indebted to the government, which means that if your debt is
> sent to collections you no longer have your day in court to explain
> your side of the story.
>
> The bailout means that these nationalized financial institutions
> and banks are now entitled to use the Treasury's full arsenal of
> collection tactics. Your tax returns and refunds may be seized and
> your wages may be garnished with impunity. Gone are the constitutional
> days that require a court judgment prior to depriving one of their
> property.
>
> So thank your government for working hard on your behalf to bailout
> these untrustworthy institutions and in doing so also handing over
> your constitutional right to due process.
Detroit's Big Three and the Democrats' Economic Illiteracy
Why Citigroup Imploded
IMHO, Reed got pushed out due to integrity, performance, and ego issues.
Down 45%, Buffett and Berkshire Hathaway Are On Sale
BTW, Long BRK-B.
Will Citigroup Regain Its Lost Luster?
Congress Offers Big Three Automakers Help, Makes Demands in Exchange
Great way to attract and retain the best and brightest! THIS is class warfare. How dare someone earn 2 or 3 times what a factory worker earns with OT!!!
Detroit's Bailout and You: Invest in the Supply Chain
Bond Expert: Tuesday Wrap
Rogers has made a fortune and will lose a large chunk of it.
Consider 'Pull' Rather Than 'Push' for the Auto Industry