Doc Holliday said, "My hypocrisy knows no bounds" in the movie Tombstone. The same apparently is true for our current crop of Bankster Politicians, many of whom today voted against extending unemployment benefits even after they voted in 2008 for a bank bailout.
Yes, these Corporate Communists not only voted for billion dollar bailouts for companies that were about to fail due to their own terrible decisions, but then subsequently have done nothing to prevent the ongoing and future theft. By destroying this very tenet of capitalism -- that the losers actually lose so that new ideas, people, companies can become winners -- they have now crippled our economy and kept millions out of work.
Now when faced with giving a pittance of support to many of the same people tossed from employment by their cronyism, they have all of a sudden found ideology. Of course, considering that many of these Bankster Politicians are going to lose their jobs for this, they will try to make excuses like the following:
Unemployment needs to be paid for out of current spending!
And for some reason the bank bailouts did not? But even letting bygones be bygones, I have a suggestion -- let's use clawbacks to pay for unemployment, considering this financial crisis (a) was caused by these people and (b) is why there are no jobs.
But unemployment pays people not to work!
Well, bailing out these banks is even worse -- it's the government literally paying people ungodly sums to destroy our country. Like I've said before, there's a reason why banking is an unpaid job in Monopoly -- it is basically a utility rendered unprofitable by modern technology. These bailed-out banks are dangerous casinos gambling with the well-being of America, and America is losing.
Mind you, I don't even agree with the current unemployment program in this country. I believe people should have to volunteer for a non-profit for 10-20 hours a week to qualify for unemployment. However, our vote-loving politicians like to keep their jobs by giving future generation's money away for nothing in return.
TARP was to keep people working!
Really? Well then it's done a terrible job of keeping people working, because unemployment is actually getting worse. The only place it's actually saved "us" is in the imaginary crony-ist utopia of those who benefited. Their jobs plan is a lucky few of you cleaning the pools built with their $145 billion in 2010 bonuses.
TARP was just a loan and has been paid back, with interest!
I suggest you all familiarize yourselves with THE BIG TARP LIE... and make sure the politicians and media that continue to spout it become familiar as well.
But I was lied to about TARP!
Then do your job. Those people who lied to you were often under oath. They should be investigated and put in jail if found guilty.
So without further ado, I present to you the list of today's Banksters -- those who voted "Yes" for Bankster billions and "No" for their victims. Please check to see if your Senator is on the list:
BANKSTER PARTY
Lamar Alexander [B-TN]
Robert Bennett [B-UT]
Christopher Bond [B-MO]
Richard Burr [B-NC]
Saxby Chambliss [B-GA]
Thomas Coburn [B-OK]
Bob Corker [B-TN]
John Cornyn [B-TX]
John Ensign [B-NV]
Lindsey Graham [B-SC]
Charles Grassley [B-IA]
Judd Gregg [B-NH]
Orrin Hatch [B-UT]
Kay Hutchison [B-TX]
John Isakson [B-GA]
Jon Kyl [B-AZ]
Richard Lugar [B-IN]
John McCain [B-AZ]
Mitch McConnell [B-KY]
Lisa Murkowski [B-AK]
Ben Nelson [B-NE]
John Thune [B-SD]
George Voinovich [B-OH]
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Thank you for the list. A few things to point out.
The TARP Funding (Bail out as you call it) was absolutely crucial to stabilize the economy at the time, was a reaction to damage that was in part caused by poor government policies, namely cheap credit and congressional meddling in the housing market through Freddie, Fannie, Countrywide, etc.; and, was structured as a short-term loan that would be paid back with interest.
Indeed, the investment banks much pilloried by the politicians and the media paid back the TARP funds with an annualized rate of 40%, making it probably one of the best investments the government has ever made.
Unemployment insurance for the people unemployed is basically 2-year handout and although it provides stimulus to consumption and additional transfer tax revenues, and has kept some low-income jobs from evaporating; has yet to provide the virtuous economic cycle that dodgy economists say will lead to new jobs.
If we are going to take on new debt, I would rather see it funneled into investment banks where we get a great return for our money. Or, probably more appropriately, applied toward tax cuts for corporations, investors, and the rich. I would like to see our government reward people for investing in America not penalize them. It is the surest way to bring long-term sustainable jobs back to America.
Thanks for publishing the list. At least now I know who to send thank you letters.
Kai
Thank you for your response:
I should have put a disclaimer that I was being partially facetious and meant this as a tongue-and-cheek rebuttal.... sorry for that.
For me the article above was very one-sided and I couldn’t resist throwing down.
You make some good points and I would agree that the government needs to get out handing out money; they do not do it very well. I will stand behind my claim that UI isn’t doing what people think it should be doing and TARP isn’t as bad as people are making it out to be.
Libertarian, huh? So you think that the unemployed and bankrupt companies should both crash and burn? Sweet. I think you are on to something.
Like you, I think the government should get out funding both, and reduce taxes across all income levels; the surest way to spur both consumption (needed to keep the current economy afloat) and investment (needed to spur long-term growth and jobs).
I assume you will be voting for those people voting to continue or improve current tax cuts?
Thank you again for your insight.
Kai
Kai
the fraud of Swaps is still legal, still sucking up all the trillions the banksters stole, that main street needs!
But GS fraud just costs them a few % fine.
50% top personal income tax. now.
90% windfall tax on derivative profits.
Outlaw SWAPS NOW.
OUtlaw all dreavtives,
force investmnet back too main street.
Massive spending on Green energy and infrastructure.
These things save money in th long run ( 4 years to 200% for pv rooftop solar),
they are deficit negative.
Vote Liberal in the primaries, and democrat in the election!
Love the show and the many torches you carry...
I was a fan on CNBC and will always remain...
you were the brightest of the bunch there i add...so..
as the saying goes...
'the more things change..the more things stay the same'
i do have faith though but not sure at what from time to time as....
TOO BIG TO FAIL
sadly also means
TOO BIG TO JAIL
Support your local bank and stay away from the Corporate banks. Every Federal Reserve district branch should be boycotted and protested. People should be chipping away at the roots of the Banksters then at the branches. Cities and states should take the Delaware example of banking, ie, only supply credit for projects the city can pay back. They are totally off the Federal Reserve nonesense.
The Gramm-Leach-Bliley Act allowed commercial banks, investment banks, securities firms, and insurance companies to consolidate. For example, Citicorp (a commercial bank holding company) merged with Travelers Group (an insurance company) in 1998 to form the conglomerate Citigroup, a corporation combining banking, securities and insurance services under a house of brands that included Citibank, Smith Barney, Primerica, and Travelers. This combination, announced in 1998, would have violated the Glass-Steagall Act and the Bank Holding Company Act of 1956 by combining securities, insurance, and banking, if not for a temporary waiver process.[1] The law was passed to legalize these mergers on a permanent basis. Historically, the combined industry has been known as the "financial services industry".[citation needed]
Lautenberg (D-NJ), Nay
Leahy (D-VT), Nay
Levin (D-MI), Nay
Lieberman (D-CT), Nay
Lincoln (D-AR), Nay
Lott (R-MS), Yea
Lugar (R-IN), Yea
Mack (R-FL), Yea
McCain (R-AZ), Yea
McConnell (R-KY), Yea
Mikulski (D-MD), Nay
Moynihan (D-NY), Nay
Murkowski (R-AK), Yea
Murray (D-WA), Nay
Nickles (R-OK), Yea
Reed (D-RI), Nay
Reid (D-NV), Nay
Robb (D-VA), Nay
Roberts (R-KS), Yea
Rockefeller (D-WV), Nay
Roth (R-DE), Yea
Santorum (R-PA), Yea
Sarbanes (D-MD), Nay
Schumer (D-NY), Nay
Sessions (R-AL), Yea
Shelby (R-AL), Yea
Smith (R-NH), Yea
Smith (R-OR), Yea
Snowe (R-ME), Yea
Specter (R-PA), Yea
Stevens (R-AK), Yea
Thomas (R-WY), Yea
Thompson (R-TN), Yea
Thurmond (R-SC), Yea
Torricelli (D-NJ), Nay
Voinovich (R-OH), Yea
Warner (R-VA), Yea
Wellstone (D-MN), Nay
Wyden (D-OR), Nay
Akaka (D-HI), Nay
Allard (R-CO), Yea
Ashcroft (R-MO), Yea
Baucus (D-MT), Nay
Bayh (D-IN), Nay
Bennett (R-UT), Yea
Biden (D-DE), Nay
Bingaman (D-NM), Nay
Bond (R-MO), Yea
Boxer (D-CA), Nay
Breaux (D-LA), Nay
Brownback (R-KS), Yea
Bryan (D-NV), Nay
Bunning (R-KY), Yea
Burns (R-MT), Yea
Byrd (D-WV), Nay
Campbell (R-CO), Yea
Chafee, J. (R-RI), Yea
Cleland (D-GA), Nay
Cochran (R-MS), Yea
Collins (R-ME), Yea
Conrad (D-ND), Nay
Coverdell (R-GA), Yea
Craig (R-ID), Yea
Crapo (R-ID), Yea
Daschle (D-SD), Nay
DeWine (R-OH), Yea
Dodd (D-CT), Nay
Domenici (R-NM), Yea
Dorgan (D-ND), Nay
Durbin (D-IL), Nay
Edwards (D-NC), Nay
Enzi (R-WY), Yea
Feingold (D-WI), Nay
Feinstein (D-CA), Nay
Fitzgerald (R-IL), Present
Frist (R-TN), Yea
Gorton (R-WA), Yea
Graham (D-FL), Nay
Gramm (R-TX), Yea
Grams (R-MN), Yea
Grassley (R-IA), Yea
Gregg (R-NH), Yea
Hagel (R-NE), Yea
Harkin (D-IA), Nay
Hatch (R-UT), Yea
Helms (R-NC), Yea
Hollings (D-SC), Yea
Hutchinson (R-AR), Yea
Hutchison (R-TX), Yea
Inhofe (R-OK), Not Voting
Inouye (D-HI), Nay
Jeffords (R-VT), Yea
Johnson (D-SD), Nay
Kennedy (D-MA), Nay
Kerrey (D-NE), Nay
Kerry (D-MA), Nay
Kohl (D-WI), Nay
Kyl (R-AZ), Yea
as compiled through Senate LIS by the Senate Bill Clerk under the direction of the Secretary of the Senate
Vote Summary
Question: On Passage of the Bill (S.900 as amended )
Vote Number: 105 Vote Date: May 6, 1999, 08:14 PM
Required For Majority: 1/2 Vote Result: Bill Passed
Measure Number: S. 900 (Gramm-Leach-Bliley Act )
Measure Title: An Act to enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, and other financial service providers, and for other purposes.
Vote Counts: YEAs 54
NAYs 44
Present 1
Not Voting 1
Vote Summary By Senator Name By Vote Position By Home State
Grassley (R-IA), Yea
Gregg (R-NH), Yea
Hagel (R-NE), Yea
Harkin (D-IA), Nay
Hatch (R-UT), Yea
Helms (R-NC), Yea
Hollings (D-SC), Yea
Hutchinson (R-AR), Yea
Hutchison (R-TX), Yea
Inhofe (R-OK), Not Voting
Inouye (D-HI), Nay
Jeffords (R-VT), Yea
Johnson (D-SD), Nay
Kennedy (D-MA), Nay
Kerrey (D-NE), Nay
Kerry (D-MA), Nay
Kohl (D-WI), Nay
Kyl (R-AZ), Yea
Landrieu (D-LA), Nay
Lautenberg (D-NJ), Nay
Leahy (D-VT), Nay
Levin (D-MI), Nay
Lieberman (D-CT), Nay
Lincoln (D-AR), Nay
Lott (R-MS), Yea
Lugar (R-IN), Yea
Mack (R-FL), Yea
McCain (R-AZ), Yea
McConnell (R-KY), Yea
Mikulski (D-MD), Nay
Moynihan (D-NY), Nay
Murkowski (R-AK), Yea
Murray (D-WA), Nay
Nickles (R-OK), Yea
Reed (D-RI), Nay
Reid (D-NV), Nay
Robb (D-VA), Nay
Roberts (R-KS), Yea
Rockefeller (D-WV), Nay
Roth (R-DE), Yea
Santorum (R-PA), Yea
Sarbanes (D-MD), Nay
Schumer (D-NY), Nay
Sessions (R-AL), Yea
Shelby (R-AL), Yea
Smith (R-NH), Yea
Smith (R-OR), Yea
Snowe (R-ME), Yea
Specter (R-PA), Yea
Stevens (R-AK), Yea
Thomas (R-WY), Yea
Thompson (R-TN), Yea
Thurmond (R-SC), Yea
Torricelli (D-NJ), Nay
Voinovich (R-OH), Yea
Warner (R-VA), Yea
Wellstone (D-MN), Nay
Wyden (D-OR), Nay
BUT, if we can't find a way to control the crooks on wall street, and the bankers, it could happen again, and it might be worse......we have to make 4 major moves to insure that we don't fall into another great drepression and they are: 1) get serious about controlling the bankers and the crooks on wall street. and 2) protect our jobs from illegals... 3)stop shipping our companies overseas.....make it illegal....
and finally: 4) begin arresting employers that hire illegal aliens.... these employers need to be prosecuted.... not just a little jaw boning like obama favors.. thanks for the heads up Dylan!
Just out of curiosity, if we were to assume that we are in the process of a second great depression, at what stage would we be at if we were to compare it to the first great depression?
How many years would we be off before hitting rock bottom?
In a nut shell, what are the major differences and similarities between then and now?
Thanks in advance.
Who are you to talk about hypocrisy? You owe your livelihood to the financial industry which is built on the biggest of all lies - that active money management is good for investors and outperforms the indices. It does not. CNBC is nothing more than financial pornography.
Many people in the financial industry were and are hard working honest people. Not everyone in the industry stole and pillaged. Besides, you need people who were and are within the industry to help expose all the garbage that happened in the last 12 years.