EASY READING CULTURE OF LIFE NEWS: AIG ANGST OF THE GNOMES « Culture of Life News 2
I am working on a new video, ‘Wizards’. This is all about the guys who use magic spells and magic chants to enchant us so we give the gnomes all our wealth. But first, today’s news: the gnomes and wizards are now in open warfare with the entire population of the planet earth, even the people in America who are the personal slaves of this Army of the Night. Far from saving us, this army is in full attack. They are struggling with the public to keep control of everything on earth. But they also recruited the Dragon, a bunch of Chinese communists. The Dragon intends to destroy the army of gnomes and wizards and then, control the planet earth.
I will be putting together a DVD documentary of all this for the Spring fundraising. That, and a poster to go with the DVD. Lots of fun stuff! But back to today’s news:
President Barack Obama’s choice to head the Commodity Futures Trading Commission, a nomination which raised concern among some lawmakers, cleared a hurdle toward Senate confirmation on Monday.
After receiving a BS and an MBA from the Wharton School of the University of Pennsylvania, Gary Gensler spent 18 years at Goldman Sachs, making partner when he was 30, becoming head of the company’s fixed income and currency trading operation in Tokyo by the mid-’90s, and eventually the company’s co-head of finance.
Subsequent to his time at the Treasury he acted as a Senior Adviser to Senator Paul Sarbanes, one of the authors of legislation that eventually became the Sarbanes-Oxley Act, designed to bring greater oversight to the accounting industry and reform of corporate governance.
As the Treasury Department’s undersecretary for domestic finance in the last two years of the Clinton administration, Gensler found himself in the position of overseeing policies in the areas of U.S. financial markets, debt management, financial services, and community development. Gensler advocated the passage of the Commodity Futures Modernization Act of 2000, which exempted credit default swaps and other derivatives from regulation. The Senate is expected to examine his views on derivatives regulation during the Senate confirmation hearings.
The gnomes of Gollum Sachs are a busy, busy bunch! See how this particular gnome passes easily between government, regulation and Wall Street! This is so easy to do. Anyone who can be snagged in the spider web of influence. Just like the guy ‘saving’ AIG, working for only $1 is actually a Gollum Sachs guy trying to pull GS ass out of a huge bonfire of the vanities.
Goldman Sachs stands to lose $20+ billion if AIG goes under. GS power comes from hiring the same people who regulate them. All employees of the government know, they have a golden opportunity to get rich once GS notices them and decides to buy their services.
The Senate Agriculture Committee approved the nomination of Gary Gensler as chairman of the federal agency, sending it on to the full Senate. Though senators on the committee were polled individually, there was no customary vote count for and against, just a recording of no negative votes.
HAHAHA. Congress does this all the time, in particular, with stuff to do with giving our money to Israel, for example. They don’t want their individual thumb prints on crimes. So they ‘voice vote’ which is code for ‘hiding stuff from voters’ since there is no record. The fact they did this with the Gensler Gnome is proof, this is a dirty trick, a payback for past bribes and a request for future bribes.
The nomination of Gensler to lead the relatively obscure agency has touched on key questions as Congress and the administration — driven by the worst economic crisis since the 1930s — prepare to tighten regulation of the financial markets and complex instruments. The concerns among lawmakers stem from Gensler’s actions as a Clinton administration official in an area blamed for aggravating the financial crisis — the complex investments known as credit derivatives….
The biggest hole in the Cave of Wealth and Death is the one made by the Derivatives Beast. All the gnomes know, this is where the Goddess of Infinity operates the most powerfully. They want, above all things, to KEEP THIS GOING FOREVER. They know, this is paper money which isn’t even paper but a series of numbers in a magic spell created by wizards. The wizards know they created a monster. They believe, if they use various skills and tools and get the government to be the conduit of all this, they can control the Derivatives Beast and keep it growing at over 5% a year.
Gensler, who was an assistant secretary of the Treasury Department and later undersecretary for domestic finance, worked with Clinton’s Treasury Secretary Robert Rubin and then-Federal Reserve Chairman Alan Greenspan to keep credit default swaps away from regulation by the CFTC or the Securities and Exchange Commission.
Uncontrolled growth is the Holy Grail of both gnomes and wizards.
Finance officials from rich and developing countries meeting in England over the weekend, including U.S. Treasury Secretary Timothy Geithner, agreed to tighten oversight of credit derivatives as well as financial markets and hedge funds. Obama has pressed for an overhaul of U.S. financial regulations to restore transparency and trust to the markets.
This is all public yap. They are lying. They will pretend to do this but not do it. Trust me on this.
The Bush administration, as part of its own regulatory overhaul plan, proposed merging the functions of the CFTC — which has only about 500 employees, the same level as in 1974 — into the larger SEC. Decisions on the future powers of individual agencies will fall to Congress and the administration as they craft the financial overhaul.
Now, why did the CFTC not grow? HAHAHA. This is deliberate. To grow the Derivatives Beast, the CFTC had to be Hobbit-sized: small. Then, the Beast and the wizards and gnomes using the Beast to get rich, could rampage about the planet. If we make the CFTC big and give them the right to arrest all the gnomes, why, the gnomes will die of sexual frustration! Trust me on this. Here is proof:
I often wonder why the topic of sex is nearly never mentioned when talking about wealth and finances! This puzzling refusal is a mordant form of Puritanism. If we don’t mention it or examine it, it makes money moral! HAHAHA. I watch financial TV and they use nearly always, a gaggle of girls whose sole function is to play ‘goddess’ to an army of desperate gnomes. But they all pretend they are talking money.
Actually, prostitutes always talk about money. It is their sole concern and they must first forge a business deal before the first kiss. This is an ancient trade. About as old as the human species.
Congress’s drive to recoup bonuses at American International Group Inc. is slowing significantly as passions on the issue cool, potentially removing a wedge that has threatened to derail the Obama administration’s broader agenda. The bonuses sparked an outpouring last week in the House, which voted overwhelmingly to impose a 90% tax on many bonuses, not just at AIG but at all institutions receiving significant financial-bailout support. But the legislation now appears certain not to come up in the Senate until after a two-week recess that begins April 3. It could be put off altogether if the administration demonstrates a commitment to reining in such payments in the future. The diminishing ardor follows comments from President Barack Obama pouring cold water on the House bill. Senate Republican leaders have also urged caution, and a number of AIG executives recently returned the controversial payments. Other moves by the administration — including a revamp of financial-markets oversight, which will include some executive-compensation rules — could provide cover to drop the matter.
HAHAHA. So much for raising taxes to a realistic level to pay for our government. There will be NO ATTEMPTS as paying for our goofy wars, our gifts to the Jews in Israel, our protection of Japan, our expansion of NATO whereby we are nearly the sole source of military dead meat. Nothing. Relieved that they don’t have to do the tax because frightened gnomes in AIG returned their unearned and ridiculous bonuses, all will resume as normal. Talking about the AIG devils, here is a letter from one:
Dear Family, Friends and Colleagues,
As most of you know I work at AIG, specifically in the division known
as Financial Products which is often cited as the “root of the
problem” at AIG. It seems to me that given the media circus, political
hypocrisy and witch-hunting going on in the US right now, I should try
to set a few facts out and make a few points that, while they are
appearing in the press, are being drowned out in the populist frenzy.
Sorry, we are NOT hunting witches. We are hunting GNOMES. The gnomes love witch hunts. First, this means they get to talk about the sex lives of wild females. Maybe, torture them and then burn them after having sex with them. Actually, the fear of MAGIC SEX is all about witch hunting! Isn’t that ironic?
The population is in a frenzy because a bunch of crazed gnomes worked with malicious financial wizards to create a system that made them rich and powerful and destroyed the ENTIRE PLANET’S FINANCIAL SYSTEMS! I say, hunt them all down. They are easy to find. We see them in their corporate offices and in major capitals around the world. They are our ‘leaders’ who are really crooks, liars and demonic creatures.
First of all, what happened at AIG? AIG has been destroyed by a
systemic failure of management that started when Hank Greenberg was
If this anonymous letter is real, this guy is an idiot. The Greenberg gnome is totally responsible for this mess.
I have facts that prove that had Greenberg not been
removed, AIG would be in fine form today, but he does need to accept
the blame for the weak overall structure of the place.
This is total delusion. As for the ‘weak overall structure': this is what happens when termites eat structures.
Now what I mean
by systemic failure is this: while it is true that AIG FP lost a
fantastical amount of money, something like 45 billion dollars, other
units at AIG, namely AIGGIC in its securities lending activity has
lost even more. It is misleading and an intentional distortion of the
facts by AIG and the treasury to pin this solely on FP, much as FP
does richly deserve blame. The real issue is that AIG management was
absent from FP, they left it to be run as the personal royal estate of
Joe Cassano, entrusting him with risk management, deal making, and all
compensation decisions with no recourse by the employees to AIG
management nor any oversight by AIG management. By the way, the head
of Risk Control for the whole of AIG, Bob Lewis, is still working in
that role today.
The entire organization is a ‘royal estate’ of a bunch of crazed gnomes. See the picture above to see how they run their estates. Expensive estates that cater to a bunch of goddesses who need lots of loot to be happy. Otherwise, no sex, Mr. Cassano.
Secondly, all corporations like to have the top guys float above the sewage they create. They flush the corporate toilet that costs about $50,000 since it is gold plated, and it flows into the rest of the corporation. When the shit comes out of the other end, they can say, ‘Where did that come from?’ and act all innocent.
This is done by governments, too. Hitler, for example, was very careful to not sign any documents detailing the annihilation of captive populations.
Even worse than this is that the failure of AIG is part of a systemic
failure of the anglo-saxon financial world. If AIG alone had failed,
then the lessons to be learned would be at AIG alone. However, as
clearly as AIG itself is a case study in corporate governance failures
that I hope will be taught to the future class of sheep/managers at
Harvard Business School, the real failures in the US and UK banking
systems stem from an extremist belief in the free market. How else to
explain the simultaneous failures of virtually every large US and UK
bank? And the blame for this lies squarely in the corrupt circles of
US politico-business classes. Joe Cassano used to extort contributions
from his employees for Chris Dodd, the very man now leading the charge
against the employees of FP. Basically at the heart of the US
democratic system is the fundamental issue that those with money can
influence those with power and that usually their interests are
narrow, short term and take no account of the country at large….
This middle part and other parts of the letter makes this sound like it is NOT written by an AIG employee. He is correct about this part of the business, though. It is hilarious that Cassano demanded all employees give bribes to Dodd. ARREST DODD, charge him with corruption.
Is it really fair of them to try to renegotiate after we have
performed on our half of the contract? It would have been fair in
september during the bailout, or in october. Those were extraordinary
circumstances. But is it fair of them to come to us after the end of
the contract and then ask for the money back after many of us have
made personal and professional sacrifices based on these contracts? I,
along with many of my colleagues, have expressed a willingness to give
the money to charity. But under no circumstances will we accept that
we did not earn the money. Is it fair or criminal that Cuomo would
threaten us with the release of our names if we don’t return the
money? That is blackmail. It is a crime of the most despical nature.
Hopefully Cuomo will meet the destiny of the last New York Attorney
General to mess with AIG, Spitzer.
They didn’t earn any money. True, they worked. Pick pockets work very hard, too. So do bank robbers. They have to plan ahead, they have to have alliances with other crooks. They have to have look outs. They have to be able to get rid of the loot. Lots of sweat here. But this isn’t value-added labor for the general community. It is theft.
Lastly, let me say one thing on the matter of the practicality of
running AIG FP with out us. AIG FP is the nexus of thousands of
contracts of incredible complexity.
We can thank the wizards for this. They create complexity. The simplest stage effects in a magic show require a lot of thinking, training and prior building. I used to build ‘magic boxes’ for magicians when I lived in New Jersey. Lots of springs, hinges and mirrors are used, doing this.
These are managed in purpose built
systems using carefully crafted procedures. If all of us leave, who
will maintain the systems for which there are no manuals?
HAHAHA! For YEARS there were debates in the wizard community about publishing secrets for doing stage magic, for example. I watched those debates in the seventies from up close. No wizard ever wants anyone to know their magic secrets! The mirrors, springs and hinges of their various magic boxes must remain their own. Not someone else.
When I had the Chinese live with me, they were very interested in all this. To my great astonishment, they figured out all the magic box stuff….ON THEIR OWN….with only a small bit of encouragement from me.
know how to operate the technological machinery that is totally
purpose built in house?
HAHAHA! It was TOTALLY PURPOSELY built ‘in house’ because it was a criminal operation! DUH.
Who will have the relationship with the
relevant client with whom we have to negotiate as we unwind their
I suggest a judge.
True one or two or ten of us could be replaced (although
after the current furor they would would want to paid a lot and in
advance and with a letter from the president and the treasury and the
supreme court that they can keep their pay) but if we all leave?
HAHAHA. I hope all these stupid gnomes leave. And go far, far, far away. I can see it now, ‘Darling, dear goddess, I walked away from my job at AIG because I’m pissed about not getting my bonus.’
‘Who are YOU, stranger? What are you doing in my boudoir? I’ll call the cops! And here is a letter from my lawyer,’ shrieks the goddess, slamming the door in the gnome’s face.
a hijacker has enough sense not to shoot the pilot unless he can fly.
Mr Frank, Mr Dodd and Mr Cuomo, can any of you run AIG FP?
HAHAHA. Inside every gnome is Atta. The demonic is very strong in them. They can and will threaten death to everyone if we interfere with them.
On Tuesday, Mr. Geithner, testifying before the House Financial Services Committee, proposed expanding the government’s power to give it more control over financial institutions, like insurance companies, that are in trouble and big enough to destabilize the broader financial system.
The solution is always to ‘expand government powers’ but this is useless if our government is CORRPUPT.
With such authority, the administration argued, rather than having to spend $170 billion to bailout the American International Group, the government could have put the insurance company into receivership or conservatorship and regulators would have been able to unwind it slowly.
What???? All AIG had to do was follow the damn laws and go bankrupt. It is that simple. Congress recently passed a bankruptcy law that is very draconian for little people. We need this for the big gnomes. They should be put through hell if they go bankrupt. The fear of bankruptcy should give them all nightmares. Then, they won’t be reckless and stupid. We hope.
Atop A.I.G. insurance companies “is an almost entirely unregulated business unit that took extraordinary risks to generate extraordinary profits,” Mr. Geithner said Wednesday. “And when this unit’s derivative contract losses pushed A.I.G. to the brink of failure last fall, the entire financial system was endangered.”
Always, the easiest way to get rich is to blast a hole into the Cave of Wealth and Death. Always, the ‘unregulated’ parts are the most profitable because of their inherent criminal nature. This is why the gnomes bribe Congress to deregulate things!
“The legislation that I believe we need would help us deal with a similar case in the future,” he said.
The proposal would extend power the government has long had over banks to insurance companies like A.I.G., investment banks, hedge funds, private equity firms and any other kind of financial institution considered “systemically” important. That would let the government for the first time take control of private equity firms like Carlyle or industrial finance giants like GE Capital should they falter.
To do this, we need to take our useless navy out of Chinese waters and go to the pirate coves and seize all the records which the gnomes and wizards parked offshore in tax havens. Arrest anyone in Congress who is doing business there.
If Congress approves such a measure, it would represent one of the biggest permanent expansions of federal regulatory power in decades. But scores of questions remained about how the authority would actually work, and industry experts cautioned that it would only be one step in a broad overhaul of financial regulation that President Obama and Congress were beginning to map out.
What the hell? Permanent regulations? HAHAHA. NEVER! All are temporary and the gnomes toil hard to undo any regulations put in after the gnomes wreck everything which they do, like clockwork, every 25 years or so.
The U.S. economy shrank at a 6.3 percent annual pace in the fourth quarter, the worst performance since 1982, in what may be the depths of the recession.
The contraction in gross domestic product was larger than the previously estimated 6.2 percent drop, the Commerce Department said today in Washington. A report from the Labor Department showed the number of people collecting jobless benefit this month climbed to a record 5.56 million.
“We’re at a turning point,” Michael Darda, chief economist at MKM Partners LP in Greenwich, Connecticut, said in an interview with Bloomberg Radio. “There are some glimmers of hope. By the fourth quarter, maybe even the third quarter, we’ll be pleasantly surprised by the economic data.”
As the real economy dies, everyone is told, if only we save the people who caused this, all will be well. This is a lie. These things have to play out and since the Federal Reserve was created to PREVENT bubbles and busts, we should nationalize our faux central bank and make it a real central bank.
FOR the last several months, Americans have looked to Washington to lead them. But where’s the leadership on Wall Street? There is an enormous opportunity for a C.E.O. to come forward with a plan to reform the financial system and pledge a change from business as usual. Jamie Dimon, JPMorgan Chase’s chief executive, has been the most outspoken of his peers during the crisis — and has done an admirable job addressing the issues — but he has been more focused on helping instill confidence in the economy and the health of his own firm. John Mack, the chief executive of Morgan Stanley, has shown glimpses of public leadership, at one point apologizing for the crisis by saying, “We are sorry for it.”
Here is my answer to this tripe:
Letting Wall Street regulate itself is utterly irresponsible. Wall Street already runs our entire political system via bribes they give candidates who must fund raise all the time and not via Kos or other online activists who are only drops in the immense advertising budgets of politicians.
So, for the last 40 years, while pretending to do ‘campaign finance controls,’ the act of bribing politicians has gotten much, much worse. And worse than that, mostly multi-millionaires or friends of muti-millionaires are running for office.
If anyone who is a normal American runs, they have to compete with cynical rich people who run our government so they can cut their own taxes and reduce the rights of the working classes who are seen as either sheep to be shorn or outright enemies of the rich.
This is why Congress has nearly wall-to-wall multi-millionaires. As always, the first thing we must fix is our own government. Then we fix Wall Street by putting all the pirates and gnomes there under very strict controls.
— Posted by Elaine Supkis
PARIS—French workers released a manager of U.S. manufacturer 3M held hostage for two days in a labor dispute over layoffs, the company said Thursday, amid rising French unemployment and public outrage at employers.
A new poll indicated that French worker frustration remains high, with a majority of respondents predicting more violent incidents in response to the economic crisis. The hostage-taking was one of many recent efforts by French workers to protest the downturn.
Workers at a 3M factory in Pithiviers locked manager Luc Rousselet in an office Tuesday, demanding better severance packages for those laid off and better conditions for those who keep their jobs.
And workers across the planet are looking in the door and seeing who they should go after. And of course, this is the bosses, the corporations, the banks and above all, our political leaders. I smell more than a whiff of revolutionary burning here. Next year, it will be a roaring bonfire.
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