Obama predicts more bank failures

The Number One Issue: Who Now Runs The Economy and Finance

Obama’s new U.S. Treasury Secretary is Tim Geithner, a former chief deputy of his Democrat predecessors at Treasury - Robert Rubin (who presided in the first Clinton government and later Citigroup over the “new financial instruments” that have subsequently wrecked the U.S. and world economy), and Larry Summers (who as Secretary of the Treasury in 1999 tore down barriers between commercial and investment banks in the deregulation frenzy that set up the Wall Street crash). Geithner originally came from Kissinger and Associates - “a bipartisan man” - before moving on from deputy at Treasury to head of the New York Federal Bank Reserve. His main qualifying distinction - not mentioned in press releases - has been as chair of a central committee of the BIS (Bank of International Settlements), a body of chief-executive international bankers which has been the unseen point-man of neoliberalism over the last 25 years. The BIS first cut its teeth on collecting debt reparations from Germany which seeded the Nazi Party - for which the BIS later also stored stolen gold. In between these assignments, Geithner served the then-collapsing IMF as director of Policy Development and Review.

In short, Geithner is an international money-man following in the tracks of what has preceded him. Behind all the hoopla of “Change We Need” and “The People’s President” lies the same monetocracy. Geithner assisted in the massive bank giveaway and its sequel of another further 25 billion plus 300-billion credit to Citigroup, a Rockefeller bank led by Rubin. Neither he nor Summers, the new economic czar, lent anything but support when the flood of public money into the Wall Street hole more than doubled before Christmas from the original $700 billion to $1.5 trillion with no more conditions than before.

The biggest heist ever from the public treasury, some might say an extortionate swindle, has been backed by the threat of “give it over, or Americans won’t get credit”. No-one appears to notice the fraudulent pretext on which it is based. Who needs credit from the private banks when the public and government already back them for any credit they have got? Why pour public money into private-bank hands to lend money they do not have and are not lending when they get it?

More Dangerous to Our Liberties than Standing Armies

Former Federal Reserve chief, Allen Greenspan, observes that “sovereign credit and guarantees put in place during the crisis [i.e., new government money to private banks] is now estimated at 7 trillion”. Yet after 1.5 trillion U.S. public dollars thrown at the Wall Street hole, not one homeowner has been relieved of bankruptcy proceedings, the banks do not lend to productive enterprises or even themselves, and no-one tells anyone in America what’s been done with all the public money. ......................................................

February 1, 2009

When the U.S. Treasury gave away $700 billion to Wall Street banks with no strings attached in October of 2008, the Obama team gave a green light. A popular insurgence was soon silenced, with public wrath directed instead at the U.S. auto producers (and unions) who followed with a request for $25 billion. The auto companies ended up with a loan of about 1/50th the amount that went to Wall Street as a gift. The subtext message was disturbing. Wall Street firms produce nothing, no-one is required to explain what they are doing with all the public money they received, and no criteria of public benefit are applied.

With the Obama team onside, rule by the fast-money men is set to continue. The near-trillion quick hand-out of citizen debt to the bankers with no conditions has remained a non-issue. Even the shift from buying Wall Street assets to direct capital infusion has raised no questions. Obama's subsequent appointments of his economic and financial directors follow in line. Those now in charge of the U.S. money-printing machine (alias the world's reserve currency) and of the financially hollowed-out system that was once the U.S. economy have not really changed. Even the education cabinet post has been filled by what his Bush predecessor says is “a kindred spirit”. He (Arne Duncan) has enthusiastically implemented the Bush school program in Chicago - testing children instead of teaching them, firing lots of teachers, pressuring test-failures out of school, and degrading public education with corporate-quiz mechanisms in place of sound learning methods.
.....................................................click on link

I am Irish, living in Ireland, and I want you all to help me please.

Please, can you lobby your house representative to make Mr. Obama aware that US aid to Israel violates US laws. You can also write to your local press expressing your concern in view of the fact Israel has committed GENOCIDE in Gaza.

US aid to Israel, and the way in which this aid is used, frequently violates US law, policy and interests.
Under US policy, financial aid to Israel should not be spent by Israel in the Occupied Territories. But Israel spends US aid with impunity.
The US has a number of laws regulating foreign military aid and weapons’ exports. The 1961 Foreign Assistance Act (FAA) states that “No assistance [ought to be given] to countries that violate human rights”. But Israel systematically violates human rights in the Occupied Palestinian Territories.
The 1976 US Arms Export Control Act (AECA) states that “Weapons purchased from the US should only be used for legitimate self-defense”. But since September 2000 the Israeli military has killed more than 3,354 Palestinian civilians (as of 8 August 2007).