Skip to main content

Posts

Showing posts with the label crime
If George W. Bush or any other American president had made a comment like this.  What do you think the media and American people would have said? "If I had a son, he'd look like Trayvon," Obama said, "I think [Trayvon's parents] are right to expect that all of us as Americans are going to take this with the seriousness it deserves, and we are going to get to the bottom of exactly what happened." "Obviously, this is a tragedy," he said. "I can only imagine what these parents are going through, and when I think about this boy, I think about my own kids, and I think every parent in America should be able to understand why it is absolutely imperative that we investigate every aspect of this, and that everybody pulls together -- federal, state and local -- to figure out exactly how this tragedy happened."

Timmy Must Be Fired, Or Obama Must Be Impeached

The Jenner and Block report on Lehman just keeps on giving. Today I am going to focus on FRBNY's culpability in the apparent Lehman fraud - that is, the role that FRBNY (and thus Tim Geithner) played in keeping an insolvent institution afloat through the use of fraudulent artifices. We must look first to what the PDCF, or "primary dealer credit facility" was created to be. The report does this for us: Under the PDCF, the FRBNY would make collateralized loans to broker ‐ dealers, such as LBI, and in effect, act as a repo counterparty. Unlike a typical counterparty, though, with the creation of the PDCF, the FRBNY was generally understood by market participants to be the “lender of last resort to the broker ‐ dealers.” 5332 Reflecting the fact that broker ‐ dealer liquidity had become increasingly dependent on overnight repos to obtain short ‐ term secured financing, 5333 the PDCF was structured as an overnight facility. Pursuant to the F...

Bunning: 'Excuse Me, This is a Senator-Only Elevator!'

By Betsy Rothstein on Mar 01, 2010 03:44 PM Most senators amicably allow reporters onto elevators dubbed "Senators Only." Not Sen. Jim Bunning (R-Ky.) . ABC's Jonathan Karl had a bristly exchange with Bunning just outside one such elevator in the Hart Building -- Bunning was in the elevator and Karl was trying to get in there with him and pose a question about the senator's blocking a bill extending employment benefits. Bunning wasn't having it. Not only did he forbid Karl from entering the elevator, but, as reported by Politico's Glenn Thrush , gave an ABC producer, Zach Wolf , the finger. (In our photograph we see Bunning's use of his pointer finger.) Bunning has been in a foul mood as of late. Some may remember his "Tough Sh-t" utterance on the Senate floor last week. Watch the ABC video here . See Thrush's report here .