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Who’s Zoomin’ Who?

OBAMA/On a day when Chairman of the Federal Reserve, Ben Bernanke and Treasury Secretary, Turbo Tax Timmy Geithner, tax cheat (TTTG,tc) appear before Congress seeking unprecedented power to further loot manipulate regulate the financial industry, including non-banking entities like AIG, the company whose bonuses they’ve been called on the carpet to address, perusal of the day’s news stories, blog posts, and opinion pieces reveals more questions than answers.  Is this the bizarre Obministration Hokey Pokey Bamboozle One Step Forward, Two Steps Back Cha-Cha-Cha it appears to be, or are the Obanomic efforts of the government so far truly on behalf of the people?

Talking Points Memo‘s Josh Marshall wonders if we are living in an “alternate universe” after reading today’s Wall Street Journal article claiming that the Obministration has had a recent change of heart towards Wall Street, itself.  I’m not sure what exactly it is about the Journal’s conclusions that has Marshall’s knickers in a twist, but one of the passages that jumped out at me lead me to believe that the article’s writer is completely full of hooey.  Rather than eschew a close working Wall Street relationship as Monica Langley claims, it seems to me that Barack Obama was bought, paid for and hand-delivered to the White House courtesy of the banksters he now serves.  Though Ms. Langley spends a lot of ink chronicling the many instances where Obacolytes paid lip service to being critical of the “dirty bankers” that financed his campaign and advised his every move during his presidential run, she ignores the obvious fact that he’s been dirty banker pocket lint all along.  Here’s the part that leapt off my page:

Early on, Obama aides had had little to do with Wall Street heavyweights such as J.P. Morgan Chase Chief Executive Jamie Dimon. On March 11, Mr. Dimon was ushered into the White House and Treasury Department, where advisers brain-stormed with him about how banks and markets would react to their emerging policies. The following day, at a White House meeting, business executives implored Mr. Obama to get credit flowing again. “All right,” the president said, according to a transcript of the meeting. He’d have his people “talk to Jamie.”

That’s it?  Is she kidding?  The “talk to Jamie” exchange wasn’t at just any “White House meeting,” it occurred during the March 12 Business Roundtable when Obama responded to Citibank CEO Richard Parsons that the previously “catastrophic” economy was suddenly “not as bad as we think.”  And, he didn’t say he’d get “his people” to talk to Jamie, he said he would.  From the Journal’s own transcript:

MR. PARSONS: So take it down to our industry, the banking business. At its core, it’s a very simple business: It takes funds from depositors and other providers of funding, and then it makes those funds available in the credit markets. And that’s how businesses grow, when people buy homes, and send their kids to college, buy cars, and all that sort of stuff.

THE PRESIDENT: Can I just say, Dick, it hasn’t been that simple lately. (Laughter.) But I get your theory, though.

MR. PARSONS: I said at its core.

THE PRESIDENT: All right, I’ll talk to Jamie. Maybe that’s — (laughter.)


So I am very confident about our long-term prospects. We live in such a rapid-fire information-rich environment that people’s attention spans go like this. And that makes for volatility in confidence. A smidgen of good news, and suddenly everything is doing great. A little bit of bad news — oh, we’re down in the dumps. And I am obviously an object of this constantly varying assessment. (Laughter.) I’m the Object-in-Chief of this varying assessment. (Laughter.)

Not only is it clear that Obama and Geithner and all the rest of the Keystone Kop Obministration say one thing to Americans understandably upset by their power-grabbing, Wall Street serving actions, as they continue to do their Bankster Masters’ bidding uninterrupted, right in front of our faces, any “journalist” who accepts anything said by anyone associated with them, at face value, collects a paycheck under false pretenses.

Jamie Dimon, New York Federal Reserve Board of Directors member and CEO of new plane-buying JP Morgan Chase, has been on Obama’s economic team for months, if not years.  Their relationship stretches back to Chicago when Dimon was parlaying his reluctantly accepted position at Bank One (after being unceremoniously dumped by Citigroup‘s Sandy Weill, his former “mentor”) into his current job.  In a July, 2008 CNN Money/Fortune interview, Obama was asked to name CEO’s he admired.  After dropping Warren Buffet’s name, he was asked if he was on a cell phone basis with the investor (Buffet):

Obama: I call him, yes. He’s one of the most refreshing people. He’s one of those rare people who is exactly how you hope he will be. He’s just completely down to earth and is as smart as they come. Really a wise, wise person. I got to know Jamie Dimon quite well when he was in Chicago. I think he’s a very smart person, and I think he’s doing his best to manage his bank under difficult circumstances.

A simple search through my archives will reveal that Dimon has been on my “more to this than meets the eye” radar for months.  If Obama even hints that he’s been consulting with this guy throughout the bailout process (which he did) you’d think that any “journalist” worth his or her salt would break their neck chasing that particular red flag down, whether Obi’s “aides” were privy to the meetings, or not.

If AIG “highlights broad failures of our financial system,” as Geithner told Congress, and Obama really doesn’t want to “choose between a chaotic and unforgiving capitalism and an oppressive government-run economy,” as he wrote in his 30 paper op-ed, we need to know if the Obministration’s ties to companies like JP Morgan Chase and Goldman Sachs, two of the biggest donors to his campaign, directly influence their policy making, and how.  Perhaps the reason the Pretendident has so much trouble tempering the public’s furor when he talks out of both sides of his mouth about whether people should be as angry as he pretends to be before he vows not to “govern out of anger,” is because he and especially, his Boy Wonder’s, loyalites remain suspect:

As it happens, Mr. Geithner used to be a Republican and changed his voter registration — to Independent — only in the late 1990s, when he became under secretary for international affairs in the Clinton administration.

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Cross posted @ Cinie’s World

71 Responses

  1. Wow, Cinie, you’re on top of this one fast!!! thanks! Let’s just inkle Penny Pritzker AGAIN while we’re at it!!!

  2. oh and this is what you get when they’re all paid to chase the president instead of the story

    • I think it’s what you get when lazy “journalists” regurgitate what the White House tells them, instead of doing their own research.

      • Well, what do you expect, the MSM was trined for 8 years by TehO’s spiritual daddy, GWB.

      • well, considering most of them these days are basically on the payroll of companies like GE, are you surprised what gets hired is some one who has no idea how or why to root things out?

      • they are corporate spokespeople this day and age not journalists

        • OT (sort of) Dakini:
          What do you say about what I said earlier. A better plan that what has been shoved down our throats would have been to take the money giftwrapped to the banks et al, and cut a check to every citizen to really stimulate the economy. Everyone I have talked to say that it would never have worked, selfish peons etc.

          But WHY would that have been worse for the country and economy than the collective BJ that we have now????

          • actually, i’d prefer something that would put something into folks budgets monthly, like basically telling the banks that every one that currently has a loan or can qualify for a house loan can renegotiate their loan to a 30 year fixed rate at 4%.

            it would free up money monthly to people, breathe some life into the housing market, and make the banks do their jobs. Better use of 1% treasury bonds, certainly.

          • telling the banks that every one that currently has a loan or can qualify for a house loan can renegotiate their loan to a 30 year fixed rate at 4%.

            Cramer was suggesting that too, wasn’t he?

          • i don’t know about Cramer suggesting this or not, but it’s what I’ve suggested it for some time. (back last fall)

          • We need you, Krugman, and Cramer heading the Treasury.

  3. The only Buffet I know is the China Buffet across town. The food is good and the prices are reasonable.

    Maybe if I had a couple bazillionaires on my Fave 5 list I could be President too.

  4. they are corporate spokespeople this day and age not journalists

    Their idea of “chasing a story” is going to lunch with a government official who demands (and gets) anonymity for “leaking” official talking points and whatever stories the administration wants the media to report.

  5. Hillary Democrats have been saying all along that Obama was bought and paid for by the same fat cats that owned GWB. Now, thanks to the media and millions of ignorant voters, we have President Teleprompter (and the skinny black guy who comes out and reads him).

  6. I would not suggest a Tea Party but a March on Washington is called for.

    Reinstate Glass Steagall Act and repeal the Commodity Modernization Act and begin regulating credit swaps write your members of Congress now, no more money, and no more money for sure until these two Law’s are FIXED!

    You want to Pickett some one really responsible for your retirement monies being stolen go see one of the main architect’s, go find former Senator Phil Gramm’s home and sit outside.

  7. “Let’s just inkle Penny Pritzker AGAIN while we’re at it!!”
    I doubt if Obama’s big money “friends” depend on Penny for anything. She is a real light weight. Of all of the names mentioned in the Obama economic team, I have to think that former Treas. Sec. Summers is the one assigned by “big money” to mind the store and keep Obama in-line. When the Wyden-Snowe amendment was perceived as a problem by the bankers, it was Summers and his side-kick Tim that put the heat on Ron Wyden. I don’t think any Senator is going to be worried by being called by Pritzker, Goolsbee, Cutler, Liebman or any of the other Obama hacks.

  8. Hey everyone. This is off topic but I’l be mostly away for a few days.

    The momster had a fall last night and is in the hospital. She had been having some weakness in her legs (not moving enough really) and the poor thing got on the pottie and then didn’t have the strength to get up. I was trying to help her but then she started listing on the toilet seat and I had to let her go to the floor. I called 911 then. I couldn’t do like a fireman’s carry because I was afraid of messing up something with her pacemaker and wires.

    So she’s at the hospital. From the e.r. they found some c.h.f. and fluid building and something off with a cardiac enzyme. They had her scheduled for an echo cardiogram and CAT today.

    I didn’t leave until 5 this a.m. and when I talked to her nurse last time she was resting so I’m going to also. Will go this evening to see her.

    I’ll read up when I can and everyone keep posting! Too much crap going on with Obie and Timmy “tax-vader” wanting way too much power.

  9. W2 was Wall Street’s hand picked candidate from day one and it is obviously paying off for them. Should we him for kicking down the “quid pro quo” so fast?

  10. Cinie, again and again, THANK YOU for connecting those tiny little dots that journalists (pfffft) these days chose not to do.

    No wonder the print industry is dying.

  11. I noticed all the phony outrage at the Wall Street article…NYT also wrote last week that Obama is against taxing the bonuses and wants to appease Wall Street. And both articles indeed make believe that there was some power struggle which Obama lost. Pretty pathetic scenario as well, but still spin. I always believed what you wrote Cinie – that the Billion dollars candidate has been installed by Wall Street – and they never been at odds. Thanks for finding out the actual proof.

  12. oops! Spammy got me for some reason – help!

  13. Hmmm. Aren’t these the same journalists who believed that Bill Ayers was “just a guy I knew from the neighborhood”?

  14. The following day, at a White House meeting, business executives implored Mr. Obama to get credit flowing again. “All right,” the president said, according to a transcript of the meeting. He’d have his people “talk to Jamie.”

    This quote right here convinces me even MORE that this economic crisis is a sham.

    There IS no crisis, like there were NO WMD’s in Iraq.

    Obama & Crew are purposefully screwing the country for their (and Obama’s financiers’) advantage.

    Look at Geithner begging for more power – and he can’t even tie his own shoes straight.

    WHERE is the Deep Throat to whistleblow this banmd of corrupt, Machiavellian mobsters in jail or back to Chicago?????

    How do you feel now, Donna Brazile?

    How do feel now, Howard Dean?

    How do you feel now, America?

    • At the very least, knowing that “talking to Jamie” is important to setting policy, that relationship deserves scrutiny. After all, the day after he “talked to Jamie” he changed direction about the pr approach to the crisis. And, why is his “Jamie” “brainstorming” with the White House and Treasury Department in the first place?

      • One does not use a first name in that sort of offhand, familiar way, if a close relationship does not exist.

  15. oohhhnoooooo!
    tonight is the prez conference..

    anybody got the stomach to watch and live blog?

  16. A live blog will be going up around 7:45. Anyone who can stand to watch and/or listen to the POTUS and TOTUS press conference, please feel free to document the atrocities for those who can’t handle watching/listening.

  17. Cramer’s loving him some Obama:

    “The President has become pro-shareholder,” Cramer enthused.

  18. Arianna – not loving Geithner:

    Tim Geithner’s actions throughout his career, including his time as Treasury Secretary, are proof that the toxic thinking that got us into this mess is part of his DNA. That’s why every proposal he comes up with is déjà vu all over again — a remixed variation on the same tried-and-failed let-the-bankers-work-it-out approach championed by his predecessor, Hank Paulson. Geithner’s Masters of the Universe, the people he still thinks are the ones we should turn to to save the day, are the same people who brought us here. And that is why Geithner either needs to go or keep his job but have his authority stripped and transferred to someone who does not share his Wall Street Weltenschauung. Use any window dressing you want, just take the steering wheel out of Geithner’s hands.

    • Funny, I thought Obama had control of the steering wheel…

    • Funny, I thought Obama had control of the steering wheel…
      she makes it sound like he’s the co-pilot.

  19. I just watched the Nightly Business Report on PBS. They had the CEO of Toll Brothers on. They build the luxury homes we always gawk at. He was touting the fact that they’re seeing an uptick in contracts for luxury homes this month. The stimulus at work you ask? Well, the reporter actually asked him if he thought that it was the result of Obama’s $8000.00 tax credit for 1st time home buyers and he said yes, that must be it. Does that reporter actually believe a person buying a million dollar plus luxury mansion is a first time home buyer?

  20. Anybody watch the congressional testimony today about the AIG (AIU) bonuses? Rep. Brad Sherman(D-CA) stated he feared he was watching Kabuki theatre. Thought about the earlier post here. I don’t know how to edit videos. His questioning starts a few seconds after 2:00.


  21. I hope congress does not give more power to Geithner and Bernanke. It really does seem that the fox is guarding the hen house, and the American taxpayer is going to be paying for generations to come.

  22. Lou Dobbs sure isn’t amused. They’re asking how POTUS can be home to meet his girls every afternoon, attend Wizards Games, go on Leno,go on 60 minutes, and do all those other things and say he’s running the country. Somebody suggested he park the af one in the garage and learn how to work a normal day like every one else.

  23. A poster on Hillaryis44 had this to say about Geithner’s request for expanded powers:

    I’m just not comfortable expanding the power of the Executive Branch to act without effective checks and balances. This really smells like the financial equivalent of an AUMF to me.

    Ding ding ding! You got it!

  24. […] Occasionally “doing otherwise might be too difficult” may be the case, but mostly, he needs to dance with those who brung him. The following day, at a White House meeting, business executives implored Mr. Obama to get credit […]

  25. […] Occasionally “doing otherwise might be too difficult” may be the case, but mostly, he needs to dance with those who brung him. The following day, at a White House meeting, business executives implored Mr. Obama to get credit […]

  26. […] Hard Out Here For An ObotTuesday: It’s official. Obama gave the country to the bankersWho’s Zoomin’ Who?Punch Drunk on Tax Funded BailoutsObama’s 60 Minutes Interview and that Odd, Inappropriate […]

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