Obama: Head Economic Adviser Paid Millions as Hedge Fund Manager
... But It's Much Worse...
By Judith Moriarty
What is not being told in this article, pertaining to Larry Summers (Obama's Director of Economic Council), is that Mr. Lawrence Summers (real name Samuelson), besides cleaning up on 'hedge funds' and 'speaking fees', is that he exemplifies - if we take the time to check out the major players - how these jocks stay within the 'club' going from one lucrative job to another. They're never out of work - no severance pay or loss of benefits for them. Larry was Treasury Secretary under Clinton. In 1998 trouble was brewing with the collapse of Long Term Capital.
At that time, the alarm went out, to get control over dervivaties. Greenspan and Summers (Samuelson) stopped this! Fact is, ole Larry ---Clinton signed bill---with contemptible Phil Gramm, were the architects of the Commodities Futures Modernization Act (recall FDR's Glass Stegall Act had been repealed) which further eased any oversight or regulations on credit default swaps. In mid 2001, there were 632 billion in outstanding credit default swaps; by 2007 it was 62 trillion and growing!
It was sickening having to watch (MSNBC news), Mika Brezezinski and Andrea Mitchell (wife of Greenspan), playing stupid, over this meltdown! Then you have Congress in these senseless hearings playing 'shocked' which proves that besides the 'stimulous' bill they never read any bills. They voted this heist!
You will observe, that in this on-going media hype of attacking CEO's of GM for arriving in Washington in corporate jets --bonuses for A.I.G. executives - more concessions, cut out pensions - lower salaries to non-livable wages, being demanded from the auto industry-- that the public has to date NOT been educated as to the history of today's 'avoidable' world financial meltdown. We've had a decade of these 'high rollers'; creating all these exotic financial instruments -which nobody understands / especially Congress, betting other peopes money, and money that didn't exist!
Sub-prime mortgages (separate entity) were created to sweeten the pot. Duh - they weren't called sub prime for nothing! Wall Street - Foggy Bottom, the banks - loan companies -Fannie& Freddie - Hedge Funds - Insurance (A.I.G.) - -everybody had a piece of the action, one way or another --Oh, except work-a-day Americans not into high end gambling ('what happens in Washington stays in Washington' -eh?) who are now paying back all these bad bets with pensions, HMOs, college funds, bundled sub prime mortgages - all these and more were the chips, at the high rollers table.
Only the moneyed Players were allowed into this gilded crap room. Meantime Tweede -Dumb and Tweedle Dumber (Treasury -Fed) are buning up the presses for their buddies in crime. Fagin-era banksters are clutching these billions to their silk breasted chests halting all lines of credit - be it the naive homeowner looking for that first home, to contractors, states, owners of malls, retail, car dealerships et al. And the victims of this PONZI scheme ( Madoff is small potatoes!) bankrupting countries like Iceland to small Norwegian villages - to the echoing wasteland of Detroit to the shuttered towns across the nation... Why they're living in tents / cars / shelters - lining up at soup kitchens pleading, "More gruel". Cops - teachers - firemen - social services - grants - school loan programs - etc; are being cut or eliminated to satisfy the demands for cash to make good on these bets - non-existent insurance!
As for the architects of this fraud; the shills, lapdogs, dealers, stooges etc; why they've all been recycled into postitons of power and decision making.
They're polishing up the ivory dice and filling the Scotch tumblers and humidors with those Cuban Cigars: let the GAMES continue. When you look at the lineup in Foggy Bottom, from Hillary as Secretary of State; to Geithner - Summers - Brezenski - Kissinger - Albright -Gates -Browner and yikes Emanuel as Chief of Staff etc it is appallingly obvious; that Barack Obama: A combination of American Idol -secular messiah - cheerleader - toothy model - the color of rich leather, with zero experience (only 141 days as U.S.Senator) of Foggy Bottom intrigue or empire building (Brezezski's vision), that these 'appointments' were imposed on him.
He had to say so in the line-up - how could he?
See: http://www.thetruthseeker.co.uk/print.asp?ID=10070 Most people perhaps are paying no attention at the moment - but when you see this lineup, it is quite shocking ... this world of 'change'!
Change? Hardly! I imagine that it's like Clinton - "It all depends on what 'is' is". We will see 'change' that's a given. In only a few months we have see over 600,000 a month in layoffs.
Businesses closing across the land, millions of windows boarded up daily, families tossed into the streets without pillow or healthcare---unless they choose a FEMA camp. States cutting all needed services. Hospitals closing. More billions upon billions for war, trillions for the banksters - credit card companies charging obscene interest - schools closing - malls closing - millions of foreclosures - etc.
As for ole Bill Clinton and contemptible former Senator (Enron fame) Phil Gramm - why they got their payoffs for setting the world meltdown in place: Bill, once a lowly employee of Arkansas (salary $35,000) is now a cigar-chomping multi-millionaire, with palatial homes, deals in Dubai, and $200,000 speaking fees / besides the multi millions for a nothing book deal. Phil - why Phil, who got out of the ENRON heist with millions before the proverbial crap hit the fan, got himself appointed as a lobbyist for a Swiss Bank. As for Larry Summers (Samuelson) President Obama's financial 'guru' --besides being Clinton's Secretary of Treasury, he was VP of the World Bank. Never missed a meal.
He advised (memo / Dec 12-91) that the world would benefit if toxic waste were dumped in Africa - and other third world countries. He reasoned that they had little pollution and that people in these areas didn't live long enough to suffer the impacts of such toxins! Imagine someone like President Obama, 'choosing' such wickedness, such a corrupt charlatan, for anything. Note how the Black community media has been mum on these appointments. They have been stunned dumb by the appointment of an African-caucasian...
Larry Summers, as President of Harvard, made himself unwanted, with his remarks of women not having the makeup, to be scientists or have math careers.
Guess what? In a world of 'cognitive dissonance' and this ridiculous daily media hype--people---will not have their idols smashed. He (wife - kiddies) are the great distractions in the 'Implosion of America' via the Great Heist. The messenger, per usual, will be marked the villain.
