Wall Street's Bailout HustleGoldman Sachs, Wall Street
Goldman Sachs and other big banks aren’t just pocketing the trillions we gave them to rescue the economy – they’re re-creating the conditions for another crash
Posted Feb 17, 2010 5:57 AM
On January 21st, Lloyd Blankfein left a peculiar voicemail message on the work phones of his employees at Goldman Sachs. Fast becoming America’s pre-eminent Marvel Comics supervillain, the CEO used the call to deploy his secret weapon: a pair of giant, nuclear-powered testicles. In his message, Blankfein addressed his plan to pay out gigantic year-end bonuses amid widespread controversy over Goldman’s role in precipitating the global financial crisis.
The bank had already set aside a tidy $16.2 billion for salaries and bonuses — meaning that Goldman employees were each set to take home an average of $498,246, a number roughly commensurate with what they received during the bubble years. Still, the troops were worried: There were rumors that Dr. Ballsachs, bowing to political pressure, might be forced to scale the number back. After all, the country was broke, 14.8 million Americans were stranded on the unemployment line, and Barack Obama and the Democrats were trying to recover the populist high ground after their bitch-whipping in Massachusetts by calling for a “bailout tax” on banks. Maybe this wasn’t the right time for Goldman to be throwing its annual Roman bonus orgy.
Not to worry, Blankfein reassured employees. “In a year that proved to have no shortage of story lines,” he said, “I believe very strongly that performance is the ultimate narrative.”
Translation: We made a shitload of money last year because we’re so amazing at our jobs, so fuck all those people who want us to reduce our bonuses.
Michael Moore on the Jay Leno Show ~ September 15, 2009AIG, Citi, Countrywide, Health Care, Jay Leno, Lehman Brothers, Merrill Lynch, Michael Moore
Ana Marie Cox – Media Whore: "I Think That It's a Wonderful Expression of Democracy – I'm Not Sure If They're AstroTurfed or Not Myself"Anti Health Care Reform, Armey, Astroturfing, Baucus, Conrad, GOP, Grassley, Health Care Lobbyists, Health Care Reform, Insurance Lobbyists, Kennedy, Lincoln, Pelosi, Pharma, Reid, Rockefeller, Salon, Schumer, Scott
HOWARD KURTZ, HOST: Thanks, John. It’s one of the oldest rituals of democracy. Election officials getting an earful from the voters, but a handful of high decibel critics at a spate of town hall meeting on health care reform have turned out to be a magnet for the media. You know how it works. The meeting might be dull, 99 audience members might be civil, but one screamer draws the cameras. You have probably seen some of this footage constantly replayed on television and across the Web.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: The cash for clunkers program is —
UNIDENTIFIED MALE: You’re lying to me!
UNIDENTIFIED FEMALE: That’s right!
UNIDENTIFIED MALE: What are you waiting for?
UNIDENTIFIED MALE: I don’t have sophisticated language. I recognize a liar when I see one.
CROWD: Just say no! Just say no! Just say no! Just say no!
LAURA INGRAHAM, FOX NEWS HOST: When they could no longer ignore the anti-Obama voters, Democrats began to dismiss them and demonize them as the hired guns of the insurance companies or Brooks Brothers protesters.
KEITH OLBERMANN, MSNBC: When Hamas does it or Hezbollah does it, it is called terrorism. Why should Republican lawmakers and the AstroTurf groups organizing on behalf of the health care industry be viewed any differently?
(END VIDEO CLIP)
KURTZ: Now the press trying to unravel allegations that the Republicans have planted some of these protesters and countercharges that the Democrats are trying to discredit legitimate dissent.
Joining us now to talk about the coverage of President Obama’s health plan and whether he’s getting a bit overexposed on television, in New York, Mark Halperin, editor-at-large and senior political analyst for “TIME” magazine, and author of the blog “The Page.” S.E. Cupp, blogger and the co-author of “Why You’re Wrong About the Right.” And here in Washington, Ana Marie Cox, national correspondent for Air America Radio and a columnist for “Playboy” magazine.
Mark Halperin, are the media playing up the loudest and the angriest of these protesters to the point where it distorts what’s what’s going on at most of these town hall meetings?
HALPERIN: Yes, it distorts it and it’s also bad for America. I’m embarrassed about what’s going on as an American. I’m not an advocate for any position on the president’s proposals, but I think this is, Howie, something you have written about and seen for years, the lowest common denominator, people taking video that is meaningless.
Yes, there should be discussion. Dissent is fine. I don’t care why the protesters are showing up, but this is a horrible breakdown of our political culture and our media culture to allow people who are going in with the intent to disrupt to become the story. The biggest issue in the health care debate, things like, should there be a public plan, completely ignored by all media and crowded out the discussion by stunts and gimmicks, and the White House has exacerbated it by attacking back on the same style.
KURTZ: Ana Marie Cox, Mark Halperin says this is a breakdown in the media culture, but we couldn’t not cover these people, and they do have a right to be heard, don’t they?
COX: Right, they do. And I actually do not think it’s a breakdown of democracy. I think that it’s a wonderful expression of democracy. I’m not sure if they’re AstroTurfed or not myself. I think they probably aren’t, but I think that’s almost a worse sign for the Republican Party.
I think this is actually the death throes of a dying Republican Party, or at least in this forum, and the not sort of the start of something new.
KURTZ: S.E. Cupp, you have to admit, if you want to look at the media’s performance here, that the various outlets, and particularly television, are giving these critics ample air time.
Healthcare Reform: What a WeekBilly Tauzin, Broadcatching, GOP, Health Care Debate, Insurance Companies, Malkin, Pharma, Politics, Rick Scott, StephaStabClinton, Tea-Baggers, Town Halls
by mcjoan at D A I L Y K O S
Mon Aug 10, 2009 at 07:16:03 AM PDT
These are times that try a progressive healthcare blogger’s soul. It shouldn’t be a surprise that a political establishment that looks at the fact that the Bush administration, led by Dick Cheney in every venal step, decided to start torturing people picked up in Afghanistan to amass false confessions about connections between bin Laden and Saddam so that they would have their “justification” for their war on choice, with nothing more than a yawn can report as straight across “news” that Sarah Palin thinks Obama is coming to kill her baby. But it still astounds that this is the new “normal.” Just unfathomable. And that’s what last week was.
The image that will be indelibly linked in my mind I saw in one of the reports on the Rachel Maddow show with video from a townhall meeting held by Rep. John Dingell, and referenced in gdunn’s diary. There’s a young, disabled woman (pictured in the diary), speaking to the group propped up by her crutches, trying to explain what she’s been through since her insurance company dropped her last year and her inability to get coverage now because of her “preexisting condition.” She’s trying to tell her story, and an older woman stands a few rows back from her and screams, her face distorted and ugly in it’s anger and ignorance and selfish extremism, “I shoudn’t have to pay for your health care.” And these are normal, patriotic, “concerned” citizens? The ones abusing disabled people, hanging people in effigy, destroying property, making death threats. (Oh, and also insurance and pharmaceutical industry shills and Republican operatives.) This is political discourse now, and Cokie Roberts says it’s the liberals’ fault. I guess she and Rahm Emanuel have that in common.
That’s the week we had.
Other stuff happened, too. The obscene amounts of money was in the news again. Hmmm, suppose there’s a link between the $1.4 million plus spent per day by industry trying to kill this and the townhall screamers?
Max Baucus set deadline number 578 for when he’d be done with his bill, September 15. Jon Kyl took his turn as the GOP concern troll to say that there’s no way. And to add to the bipartsan fun, Chuck Grassley, in an extreme display of Senate comity and decorum, used his colleague Ted Kennedy’s illness to lie about the proposed public option. So Democrats want to kill granny, Sarah Palin’s kid, and Ted Kennedy, for those of you keeping score at home.
Bipartisan negotiations in the Baucus committee seemingly continue unabated.
Billy Tauzin created a stir when he leaked a White House/Baucus deal with PhRMA that would have blocked proposals in the legislation to extract cost savings from them beyond an agreed-upon $80 billion through price negotiations or rebates. Then it got confusing, with some Dem Senators saying that the White House told them there was no deal, while at the same time the White House was reaffirming it. The week ended with the White House backing out of a chunk of the deal, and with many Dems (those not named Baucus) with a bad taste in their mouths. The most disturbing aspect of this story is the extent to which the White House is using Baucus, knowing what we already know about what is going to be lacking in the Baucus plan: namely, a public option.
This week, the primary media story is likely to continue to be the townhalls, since they’ll make good copy. The behind the scenes story will be the fight for a real public option, and not some watered down co-op system. Stay tuned.
Pretty Damn Disgusting That StephaStabaClint had Michelle Malkin on This WeekABC, George Stephanopoulos, Michelle Malkin, This Week
Pretty damn disgusting that Stephanopoulos had Michelle Malkin on This Week.
If ever there were a “Jump the Shark” moment for “Television Journalism” -I’d wager that this will eventually be the winner.
This is a woman, if you don’t know and you should, that claims Obama isn’t a citizen and about ten other vile things that I don’t want my brain to focus on cause I’m dealing with 4 yr. olds and want them to have a happy childhood.
But Stephanopoulos had this human on his serious News show and this is why I’m afraid Mr. Obama is doomed. For his Presidency.
It looks like this Health Care Bill will be a watered-down version of what should have gotten done this time.
DC is so hard for a Bill any Bill-there’s a new talking point this week in DC that Obama is finished-forever-if this bill doesn’t get passed. And we gotta get some Republicans on board so they won’t trash the President TOO bad when they’re out campaigning next year.
Hooey of course and I betcha that No Bill would actually be the better call. That probably won’t happen and it’s a shame.
And traitors and liars like Michelle Malkin are truly mucking up the debate by scaring the rubes with talk about Euthanizing the Elderly and The Socialist President and Obama is going to Take Your Guns.
And the Press fails to mention the LA Fitness shooter’s two allusions to Obama in his diary.
It’s getting really scary out there in no-job America.
David Brinkley just puked in his grave.