Obama’s Contributors
By Rabble Rouser Reverend Amy on March 20, 2009 at 3:05 PM in AIG, Bamboozling, Banking Institutions, Barack Obama, Chicago politics, Citigroup, Rahm Emanuel, Wall Street
Since AIG is big in the news right now, with Obama claiming his faux outrage over the bonuses, and Chris Dodd saying, “Don’t blame me!” “I mean, do blame me!” (c’mon, don’t you KNOW Rahm Emanuel showed Chris just how they do it in Chicago to make him take the fall for this?), I thought I would share the following piece from Pajamas Media on an interesting twist:
Contributions to Obama Campaign Track Bailout MoneyBarack Obama’s lack of leadership in a down economy has now hit [1] crisis proportions, as his claimed inability to block millions of dollars in bonuses for executives of bailout recipient AIG has caused even his supporters to turn on him.
But while the ire of Congress and the media focus are on the $165 million that AIG paid out in bonuses to their executives, the president is hoping you won’t notice the $100 billion in taxpayer bailout dollars that AIG paid out to other banks, including $58 billion to foreign banks and [2] $36 billion given to French and German banks alone.
The Obama administration is allowing AIG to bail out the rest of the world with your tax dollars.
So by all means, the president is happy to have you railing at “evil” but relatively small potatoes AIG executive bonuses, as it points your outrage away from his own far more costly executive abuses.
And of course, the re-distributor-in-chief hopes you won’t notice where much of the rest of the AIG bailout cash is being spent.
While $58 billion of your tax dollars — or more accurately, your children’s tax dollars — are being used to pay foreign banks, a substantial portion of that money ($43.5 billion) is being used to pay American banks, including Goldman Sachs, Merill Lynch, Bank of America, Citigroup, Wachovia, Morgan Stanley, AIG International, and JP Morgan.
The following recipients of President Obama’s trickle-down-to-my-donors bailout plan rank among his top 20 contributors to his 2008 presidential election campaign, according to [3] Open Secrets:
Goldman Sachs: $955,473
Citigroup: $653,468
JP Morgan Chase & Co.: $646,058
Morgan Stanley: $485,823
Well, looky there!! Don’t THOSE names look just a little familiar?! Just WAIT:
Three other banks that were significant contributors to Obama received money through AIG:Bank of America: $274,493
Wachovia: $214,151
AIG: $112,170
Lehman Brothers, which did not survive long enough to join the list of banks leaching off the work of the American taxpayer, also gave the Obama campaign [4] $276,088.
Individuals identifying themselves as working for the banks above gave Barack Obama’s presidential campaign $3,617,724. In other words, more than 3.6 million reasons for the president to help focus the media’s glare on the relatively minuscule $165 million in AIG executive bonuses, and away from their $43.5 billion portion of $100 billion of taxpayer dollars the administration, by design or incompetence, filtered to other banks through AIG.
In receiving $43.5 billion for their investment of just over $3.3 million, it looks like the banks that gambled on Wall Street certainly got their money’s worth out of their investment in Barack Obama.
Your tax paying dollars at work, folks! To help pay back Obama’s big-money contributors to buy him the highest office in the land. Wheeee!!!!
If you want to read more on the AIG issue, SusanUnPC also has a good piece on the recent AIG/Dodd stuff, “Listen To Your Aunt Susan.” There is also Larry Doyle’s, “AIG Contracts A Brain Freeze,” are just a couple of other articles at No Quarter on the AIG issue.
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By Sarah Palin (Release date: November 17. 2009)
Rev. Amy–Thanks for staying on top of this!
(do you ever sleep??!!
LOL - no, but more because of the puppies and their mother!
More and more is coming out abt the whole AIG bonus thing (and I have another post coming out abt that later), but I can bottom line it for you: Obama is a big, HUGE, Liar.
That is no news flash for all at No Quarter! Have any of you psuhed to work for CNN or form your own news network???
good work here, always!
Thank You for a spotlight on the real truth.
Your right Rev. AIG is the largest money launderer in the world today, and obviously Obama benefited from it during his campaign. And if Obama was so “STUNNED” to learn about the bonuses after he signed the stimulus into law, what does that say about the Chicago Wonder? Is he so out of the loop,like RR Reagan, that he doesn’t know what the hell he is signing? Just think. What if he had just been handed a CONGRESSIONAL DECLARATION OF WAR? instead of a stimulus bill.
Maybe he should have taken the time to READ it before signing it into law than taking that weekend off. Shoot, he could have skimmed SOME of it while flying AF 1 to Denver to sign the thing!!
But he knew - he HAD to have known if Rahm was in on it, and now Geithner is coming forward with more info…
HEY! We should have a pool as to how much longer Geithner will be the head of the Treasury!
Once again, this is the problem with the Senate confirming this tax fraud - every single one of them who voted for him and this Stimulus Bill are guilty as sin for this fiasco. If they didn’t know for what they were voting, then they are just incompetent - not the best excuse now, is it?
That brings me back to the primary, where I would tell bots that it was the Rezko trial that turned me anti BO. I explained, he is either really, really corrupt, or really, really stupid and neither makes him a good choice for President! Of course, their response was that I was listening to “internet rumors”. LOL!
I wish I still knew some bots. I’d love to ask if AIG is an “internet rumor”.
LOL - yes, that would be just the question to ask!
And I completely agree abt Obama and Rezko. You can add Ayers, Meeks, Daley, Emanuel, and all of those other Chicago associates to that list.
I still cannot believe that the Obots just accepted Obama’s claim that NONE of his IL legislative papers exist - NONE! Not even a date book! How in the world can that be possible?? But hey - they just did not care what his record was, or was not, with whom he associated, or not - a domestic terrorist who bombed the Capitol and Pentagon? No problem - he’s just a harmless Ed. prof!! What’s the big deal?? Sheesh.
So yes - either he is crooked as a street in San Francisco, or he’s an idiot. And he is very likely both - 60 states? Great Lakes in OR? His Special Olympics comment?? (And as to the latter, you know that is a real window into how he thinks.)
Didn’t obummer make a huge deal of Hillary not reading the war resolution, just attending the summary briefing? He didn’t even do that with this stimulus bill. I am so tired of this hypocrite and liar!
“Is he so out of the loop, like Ronald Reagan, that he doesn’t know what the hell he is signing?”
YES! He does not have to think. Nancy tells him what and when to sign.
How the hell do these creeps sleep at night?
These creeps do their best work in the dark; it’s the light they can’t stand. That’s why the “Obama & Company” party all night long and get grumpy when they have to do “presidential things” during daylight hours.
(The capitol now reminds me of the movie Ghost and all those little black things emerging from the ground moaning and groaning as one by one they drag the protesting and screaming Obama new hires away.)
Can’t stand all these crooks!
a few more AIG links:
The Real AIG Outrage:
http://online.wsj.com/article/SB123725551430050865.html (h/t pigpaws)
Why AIG Really Needed 170 Billion in Taxpayer Money
http://pajamasmedia.com/blog/why-aig-really-needed-170-billion-in-taxpayer-money/
Sociopaths have no morals, ethics or conscience, that’s how.
No. Remember that house last year that was in foreclosure and you bid against other buyers and you were the first in line but you were told your bid was not high enough and bombed? Remember all of those who bid on foreclosures but it seemed that the banks didn’t care to sell them? Why were the banks so eager to keep their inventory unless you paid whatever price they said you had to come up to? Hmmmm.
Well, Barack, Paulsen, Bush and Geithner combine to give AIG the money to pay the banks to look down on you. And your bid went by the way side. And you couldn’t make your move. Boo hoo hoo. You loose. We lost. Your neighbors lost. And now they will pay thousands of dollars also to help refinance the existing foreclosures to save AIG from more embarrassment.
But hey, lets not think about that anymore. Just pay the tax bill when it comes due and be happy. The government is always on your side, no?
I’m so glad your wrote this, especially your first paragraph. ditto here, exact thoughts and frustration on a home that needed foundation work and was on the market for 2 years in foreclosed status…bank wanted 600,000k and…they got it after 2-1/2 years, just before the September/October financial meltdown.
This is all about artificially propping up the real estate residential market to preserve equity wealth in residential home ownership. Good or bad? You decide. But one way or the other it is costing us a pretty penny. That’s right. The car and the high price appliances you purchased on home equity credit are going to cost much much more than their price plus interest. And what’s worse is that those you will buy in the future through your preserved equity (as per the bailouts) will also cost much more than price plus interest. Even if you pay cash they will cost you more than cash. You are investing in keeping this economy afloat. You, your entire family and the family your family will bring about with the next generation. Enjoy.
Now this is what I say. Remember all of those financial calculators that you purchased with that funny button called FV for future value of a dollar at present rate of return. I have a feeling those are worthless now. The FV values will be like ‘fools gold.’
The new ones we have to invent for the next generation financial calculators will need to have a new formula for generating FV. It will have to read FVIGBYHTPIT - future value including government bailouts you have to pay in taxes (you or someone else but someone will have to pay).
The right hand is waving so that you don’t pay attention to what the left hand is doing. $165M vs. $58B to foreign banks. What percentage is the bonus vs. the handout to foreign banks? Is the majority of Americans really this stupid to fall for this bs?!
hey, there’s plenty of outrage to go around; no need to choose between being mad at the greedy execs or ozero, or the whole bail-out scam. i can be mad at them all.
the top management of these companies and their obscene bonuses and other compensation is part of the problem; it creates an incentive to cook the books, and an overall culture of greed and “anything goes as long as i get mine.”
if sanity is not restored to executive and management compensation, it is guaranteed that the present financial collapse will be repeated. that, and conflicts of interest among the regulators most be eliminated.
Don’t get me wrong, I’m friggin’ fuming at this whole debacle. You’re absolutely right, greed is at the root of this insanity….the greed for money AND power. I’m just sayin’ this outrage by Congress is nothing but a circus. We’re supposed to see them feign outrage and we’re supposed to be okay with it. All the while, there’s this other little thing call funneling of our tax dollars through AIG to foreign banks. I’m thinking WTF?!
This morning I heard Dodd say that he was extremely upset and disappointed that the people responsible for the ommission of the “clause” didn’t have the courage to step up and own it.
Interesting.
yes, interesting. is he sticking to his “obama made me do it” story? pay-to-play comes home to roost, it appears.
Doin’ a heckuva job, Timmy!
someone is choking on Obamas balls at the moment. Still others are lining up to gargle. Nothing changes unless something changes and Obama is not the change we needed. But we did get change alright short changed!
Infreakincredible! I’m at a loss for words.
A letter to the editor in the SF Chronicle today said that being mad at the AIG bonus-takers is like being mad at the dog for eating the steak you dropped on the floor.
The outrage over the bonuses is a distraction. And Congress’ glee over taxing them is scary. Wait til they start taxing health benefits of the middle and upper middle class who still have jobs with health benefits AND then eliminate the mortgage deduction….
The lower classes will be cheering just like they are now about the AIG bonus tax but for those of us who stuck with jobs to keep the benefits and pay our mortgages it’s not going to feel very funny.
This is to stop you from knowing about the other bills they pass, such as the Gift act among other things. The brown shirts are coming.
RRRA - Bravo, great piece!
I encourage everyone to forward this on… which is what I have done. This piece gets to the point short and sweet and illuminates the corruption taking place behind the curtain.
Why, thank ya, Dani! I appreciate that!
Yep - this is some change, isn’t it? I guess the corruption being so BLATANT is the change he was planning on bringing. Wait - isn’t that the “Chicago Way”?
Hey, Bay Area - I even got in a SF reference upthread!
I should add, I completely agree that this is a distraction from the big picture. There will be more on that to come!
Treasury officials proposed limiting annual bonuses for all employees of American International Group in November, as they were negotiating the government’s first investment in the troubled firm, according to a document obtained by FOX Business.
In a Nov. 5 e-mail to Treasury officials under the Bush Administration along with Federal Reserve officials, an outside attorney working on the transaction wrote, “We indicated that UST (United States Treasury) … wants to put in place a limitation on annual bonuses that assure that (AIG: 1.23, -0.36, -22.64%) executives/employees will not be enriched out of TARP funds.”
http://www.foxbusiness.com/story/markets/industries/finance/exclusive-treasury-officials-proposed-limiting-bonuses-aig/
Hey, I told you so! Barry Soetoro has always been a puppet! He is a compromised, controlled, blackmailed
charlaton. Where do you think all those millions of dollars came from during the presidential primaries and GE, the grassroots? The Blk community? Yeah, right! Well we are watching the payback, at the expense of our country, of our values and the working taxpayer. Chicago cess pool poltiics on the national level and our tax funds goiing via, AIG, to European speculators. Barry Soetoro, they have that dude by the….B*@@*S!
pretty much.
From Rasmussen today…ODumbo is at 55%…And dropping fast. Gee, wonder why. Great article RRRAmy, thanks. I am passing this around to my friends. It just doesn’t get any more corrupt and creepy than all this nonsense.
Friday, March 20, 2009 Rasmussen Daily Tracking:
Overall, 55% of voters say they at least somewhat approve of the President’s performance so far. That’s his lowest overall rating to date. Forty-three percent (43%) disapprove.
Thank God people are waking up!
They need to wake up faster, HRB. We’re on a runaway train and if we don’t put the brakes on, we’re headed over the cliff. The last week has been incredible, but this AIG huffing and puffing is a distraction. The Fed printed and pumped a trillion dollars into Treasury to pay off debt and fund programs with dollars we don’t have. Take it out of one pocket, put it into another. Congress pushes a “Mandatory Volunteerism” [oxymoron anyone??] bill with surprising silence from the MSM. And Barack Obama is out shilling a 3.55 trillion dollar budget–the cure being worse than the disease program.
We’re being scammed, flim-flammed by the biggest crooks in town.
I said earlier this was the biggest Ponzi scheme in the Universe. I take that back. The country’s being taken over by the politico/financial mafia in $3000 suits.
People need to wake up, quick! Or we’re not going to have a country to worry about.
Sickening.
better late then never…
On the other hand, MSNBC won’t give up trying to prop up the Prez and the Demz. Here is Tweety with a new poll;
42% of Americans say they’ll vote Dems in 2010
42% of Americans say they’ll vote Repubs. in 2010
Tweety analysis? It’s bad FOR REPUBLICANS because it means they are down…I am not kidding you. You can’t make this stuff up…lol
I believe they come from people polled the previous week, too! I certainly hope it has sunk like a stone with the people polled this week.
Quick he’d better make another campaign appearance in — well heck any state (at taxpayer expense) to stop those dropping numbers.
Stop the lovefest!~
Check this out:
http://www.newser.com/off-the-grid/post/99/barack-obama-is-a-terrible-bore.html
President Hope-less anyone?
Some of this information is misrepresented. I heard this story on NPR. AIG needed the bailout money for the express purpose of paying European banks whom they owed. That was the debt which was crippling the company. It’s a global corporation. They haven’t done anything under the rug here. Congress knew that’s what AIG needed the money for.
Check this out. Even Canada is laughing at us. Or, perhaps “cringing” is the better term.
http://network.nationalpost.com/np/blogs/fpcomment/archive/2009/03/19/terence-corcoran-is-this-the-end-of-america.aspx
They won’t be laughing for long, Indy. Because this is “ashes, ashes, we all fall down.”
Same as when Reagan defeated Gorbachev and the Soviet Union without firing a shot, Putin and Medvedev are looking at pushing the U.S. back to its own borders without firing a shot also. And they may be enlisting the Chinese, Venezuela, Iran and a whole host of other countries including many European nations.
If Obama does not apply himself he will be shocked and awed by their strategy and by the futility of trying to overcome it. Obama is a foolish buffoon and he will be put on display for the whole world to laugh at.
I am not laughing, Lark. I’m appalled. And please, beinging up the wet dream of Reagan’s ghost is not going to solve anything.
Forget the Democratic/Republican blame game. They’re all to blame. And Obama is only the latest buffoon who’s been foisted on the American public.
Stupidity and greed is an equal opportunity employer. American citizens need to stand together or we’re all lost.
Look what else AIG is doing with the Taxpayer money…suing the Government http://www.nytimes.com/2009/03/20/business/20aig.html
While the American International Group comes under fire from Congress over executive bonuses, it is quietly fighting the federal government for the return of $306 million in tax payments, some related to deals that were conducted through offshore tax havens
A.I.G. sued the government last month in a bid to force it to return the payments, which stemmed in large part from its use of aggressive tax deals, some involving entities controlled by the company’s financial products unit in the Cayman Islands, Ireland, the Dutch Antilles and other offshore havens.
A.I.G. is effectively suing its majority owner, the government, which has an 80 percent stake and has poured nearly $200 billion into the insurer in a bid to avert its collapse and avoid troubling the global financial markets. The company is in effect asking for even more money, in the form of tax refunds. The suit also suggests that A.I.G. is spending taxpayer money to pursue its case, something it is legally entitled to do. Its initial claim was denied by the Internal Revenue Service last year.
The lawsuit, filed on Feb. 27 in Federal District Court in Manhattan…..
Quote Amy: “Obama is a big, HUGE, Liar.”
I don’t think we’ve even seen the tip of the lies and deceit. Great article. Thanks for all the work.