USA Watchdog | July 27 2012
Once again, Syria is at the top of the News Wrap-Up. Russia is sending a large contingent of marines to Syria. They will park off the coast, ready to go ashore if needed. I told you this was not going to go down like Libya. Russia has a naval base in Syria and is a big ally of the Syrian government. Now, Iran is saying it will come to the help of the Syrian government and will not permit a regime change. This is a bloody civil war that has claimed the lives of nearly 20,000 Syrian citizens. There is no end in sight.
Treasury Secretary Tim Geithner was in the Congressional hot seat this week. Geithner was grilled with questions as to why he did not call a halt to the multi-trillion dollar Libor global rate rigging fraud. The big bankers are going to say Mr. Geithner, who was at the New York Fed when this started, basically gave his tacit approval for the fraud. I look for him to be sacrificed by the bankers over this mess.
Former CEO of Citi Group, Sandy Weill, says the big banks should be broken up. What? He was one of the architects of the big bank “supermarket” model. What do you want to bet the banks will shave off the productive assets for investment banks and leave taxpayers with the debt and toxic garbage to clean up? What a weasel!!!
Ron Paul got his “Audit the Fed” bill through the House with a lopsided 327 to 98 vote. I don’t think it will make it past the Senate, but if it does, Obama will surely kill it with a veto. You want to know how $1.6 billion of client money can be “vaporized” in the MF Global bankruptcy and not a single charge be filed against CEO Jon Corzine? Well, it was revealed this week that MF Global was a client of Attorney General Eric Holder’s former law firm. We have a nation of men, not laws.
Finally, you think the government does not censor the news? Think again. The New York Times published a story two weeks ago that admitted most mainstream news organizations (including the Times) allow the Obama and Romney campaigns to approve quotes. I call that censorship, and that is from the New York Times. You wonder why sites like this one are growing and the MSM is shrinking. Greg Hunter gives his analysis of these stories and more in the Weekly News Wrap-Up.
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If banksters are calling for the break up of TBTF banks, you can rest assured there is someone somewhere connected to the banks who will benefit. Sandy Weill, the douchebag bankster who headed Citi group, was a major architect of the legislation that created this mess. It seems that the banksters are well aware of the public cry of ‘hang the banksters’ and they are trying to front run public outrage by calling for their big banks to be broken up before it is done by outside force. Again ask yourself ‘Cui bono?’ (who benefits?). I agree with Greg’s assessment that the banks will keep the juicy profitable parts of their operations, and leave the tax payers with the rotten fruit. We can allow wall street to continue its business as usual fraud or we can collectively say ‘it’s not my debt!’.
Of course you’re right, A.L. This is definitely an attempt to outrun the (so far absent) regulators and dump the debt on the taxpayer. It’s truly sick. Blessings. ~G