Archive for the ‘Internet’ Category

Twitter and Facebook, Why Twitter Might Be Worth More In The Long Run…transparency…

Posted on 2012 02, 01 by rockingjude

Image representing Twitter as depicted in Crun...

Image via CrunchBase

Jeff Carter, Feb 01, 2012

Was reading Fred Wilson’s blog on Twitter and started scrolling through the comments. It was pretty interesting to see people’s reactions to the video he posted and their thoughts on Twitter in general.
I have been called the “oldest man in social media” by some of my Stocktwits friends. Quite frankly, I am almost fifty but looking at the revolution I am witnessing in media I feel eighteen. Old media is going to be disintermediated and you can see the panic in their eyes. They know it, the market is starting to realize it and while the sharks aren’t swimming in circles yet, there is enough blood in the water for them to know sooner or later they will feast on some old whale carcasses.

In my home, we usually are pretty early adopters of certain technological things. We had iPods before anyone we knew. My kids had cell phones. They have 2.5 years in age difference, and when they were in high school we noticed there was already a generational gap in communication. With the older it was possible to call or text her. With the younger, only text.

Disclosure, “The Event” and China’s “October Surprise”…Finished…

Posted on 2012 01, 31 by rockingjude

Written by David Wilcock

Even a year ago, weeks could go by between major Disclosure events. Now there are multiple signals per week. Are they trying to tell us something? Does a bear sit in the woods?

BUILDING UP TO SOMETHING

In the last few months, things have gotten really wonderful for the Disclosure crowd — to the point where I don’t even have enough time to try to track and write about all of it, while juggling my other responsibilities. This includes:

  • Multiple, blatant UFO sightings, some of which shut down entire airports;
  • Major press conferences with multiple eyewitnesses announcing that nuclear missile installations have been powered down by ‘flying saucers’ which otherwise were not aggressive, and may in fact have our best interests in mind;
  • A huge number of “life is highly abundant in the universe” scientific articles;
  • A raft of movies and television shows either already released or in production, which are dealing with the subject — both from the present day as well as “Ancient Aliens” who happened to enjoy building massive stone structures

This is definitely not ‘smoke and mirrors.’ This is a clear, deliberate and concerted effort. And it’s building up to something.

“THE EVENT”

Among all of these various elements, the NBC television show “The Event” stands out as particularly provocative. Here you have a television show about a black President — who looks and sounds just like Obama — stumbling into the truth of human ETs soon after he takes office.

In this story, some 97 human-looking ETs crashed in a spaceship in Alaska in the 1940s, and were held hostage at ‘Camp Inostranka’ ever since. The president learns this truth, meets the people and plans an open Disclosure in a live national press conference.

Right before he discloses these secrets to humanity, he suffers a 9/11-style attack by a hijacked passenger airliner. The plane then pops through a wormhole right before it hits the ground and ends up in a remote desert, apparently by ET influence.

All the passengers onboard the plane initially survive, but they then end up dying — or so we think. The analysis of the bodies at the crash site shows that they appeared to have been running from something — perhaps a beam weapon.

The government plans on ‘distressing’ the bodies to make it look like they all died in a fiery crash, which they intend to fabricate for a cover-up.

THE WEIRD VIRUS

Then, in very disturbing zombie-like fashion, the bodies all end up re-animating in a secret military bunker. At first they seem to be fine, but then they all start hemorrhaging blood from their noses and mouths.

We learn that they have a weird virus, which they were given by the ET opposition leader — and they will be dead within 24 hours unless the President frees all the ET detainees at Inostranka, in exchange for the vaccine.

Fighting for the lives of the survivors, the president wrestles with the opposition leader, who claims he will use this same weapon on whole cities of Americans if the 97 detainees are not freed.

The president ends up getting the antidote by threatening to execute all of the ETs if the opposition leader does not produce the serum first.

THE MEDIUM IS THE MESSAGE

This Monday night’s show effectively picks up at this point in the storyline — and I’m leaving quite a bit out of it here. Though it is a bit clumsy at certain points, and I don’t find the portrayal of the president and his entourage particularly believable, the overall execution is quite good.

There does appear to be a lot of fear-mongering about human-looking ETs in this show, such as their apparent willingness to use terrorist tactics to get their way.

Nonetheless, it also seems clear that we are being given a message that they are not all bad people — only a small number of them.

Furthermore, the seemingly positive female leader of the ETs (who is obviously cast to look and sound very similar to the heroic female president in Battlestar Galactica) alludes to an upcoming ‘Event’ without elaboration at this point in the story.

WHAT’S IN A NAME?

In the title, the second “E” in “Event” is reversed. This highlights the ‘V’ in the middle — as in the previous show ‘V’, which was also about human-looking ETs. It also encourages us to pick out the word ‘EVE.’

Remember that this is all part of a Processed Release of Information (PRI) program, and the underlying body of information to be disclosed has been in place for thousands of years. I discuss this in my radio show with William Henry, linked below.

I feel it is safe to assume that in this TV series, “The Event” will involve a certain amount of cataclysmic activity on the Earth. It should also upgrade our DNA at the same time — leading to a new humanity.

A new Eve.

This would then allow the show to go in the direction of “Heroes” and other such programs where people begin developing ‘powers’.

If that’s really where this is going, then “The Event” may well be the most blatant, in-your-face, one-stop-shop Disclosure mechanism ever put out by the media — at least thus far.

The Battle For Control of The Global Collateral Accounts…

Posted on 2012 01, 30 by rockingjude

Another quite interesting and revealing Ben post here. It sounds from what he reports here, that we are in the last act of this dark old global soap opera. Ben gives some of the history behind much of this, from his understanding, and lays it out for all to see. The fact that he puts so much of this type of information out there tells me he knows he is “protected” (whatever that means) and that this dark-oriented group is pretty much out of it, power-wise. Others have likewise reported such (SaLuSaMontague KeenWanderer).

As always, suggest using your Higher Discretion as you read.

Highlights

  • …911… attacks…was an esoteric battle in a war for control of the global financial system… the 311 nuclear tsunami attack against Japan was also part of this battle.
  • …A critical mass of military, law-enforcement, banking and other officials has been identified and is about to arrest the culprits behind these and other attacks.
  • …global…accounts…backed by the pooled assets of many of the world’s governments… meant to be used to finance peaceful development… were mostly misspent on war by a group of misguided oligarchs concentrated in the financial, military, oil and (to a lesser extent) pharmaceutical industries.
  • …the top cabalists include George Bushes Jr.&Sr, Henry (Heinz) Kissinger, Queen Elizabeth, Queen Beatrix of the Netherlands, Senator J. Rockefeller, Paul Wolfowitz, Frank Carlucci, Donald Rumsfeld, Tony Blair and the Pope.
  • The main plot line… goes back to the Bretton Woods agreement of 1944.
  • When U.S. President John F. Kennedy agreed with the 77-nation non-aligned group to create US treasury dollars to finance the development of the third world…, he was killed.
  • The problem with this fake war on terror is that it required the rest of the world to continue financing the US military industrial complex.
  • When Putin kicked the cabalists out of Russia, suddenly the cabal’s control over oil, and thus their stranglehold over much of the world’s economy, began to collapse.
  • However, the entire [cabal] plan began to crumble after 2006 when the Chinese began to stop buying US Treasury certificates.
  • …in June of 2009…two Japanese carrying $134.5 billion of various bonds were seized in Italy and had [them] taken… the trail led to cabal members located at the very top of the Western power structure.
  • Until this mess can be sorted out, a freeze has been put out at the very highest levels of the global financial system. This is what is ultimately behind the recent financial turmoil seen around the world.
  • The best intelligence available says…many cabal members will be put in jail while [thoss] judged to have sincerely worked with the greater good in mind, will be allowed to stay free…
  • There will also be some sort of announcements to the global public at large about what has been going on. Humanity will then enter uncharted waters.

. . . . . . . . . . . . . . . . . . .

Although a decade of research has proven a high level cabal at the top of the Western power structure was behind the 911 terror attacks, few realize the attack was an esoteric battle in a war for control of the global financial system. Fewer still realize the 311 nuclear tsunami attack against Japan was also part of this battle. However, a critical mass of military, law-enforcement, banking and other officials has identified and is about to arrest the culprits behind these and other attacks. The search for the ultimate culprits led to something known as the global collateral accounts and a high level group of conspirators that illegally took them over. These accounts are backed by the pooled assets of many of the world’s governments and were meant to be used to finance peaceful development. Instead, they were mostly misspent on war by a group of misguided oligarchs concentrated in the financial, military, oil and (to a lesser extent) pharmaceutical industries.

According to a US intelligence group that has been on this case for some time, the top cabalists include George Bushes Jr.&Sr, Henry (Heinz) Kissinger, Queen Elizabeth, Queen Beatrix of the Netherlands, Senator J. Rockefeller, Paul Wolfowitz, Frank Carlucci, Donald Rumsfeld, Tony Blair and the Pope. Of course there were many thousands of working below them or else above them in the shadows who were in on the scheme. The intelligence and police agencies of the world have now obtained the codes for the global collateral accounts and can trace in detail who has been using these funds, and for what purpose, ever since they were hijacked in the 1950’s.

Practical Politics since the beginning of man…divide & conquer…

Posted on 2012 01, 29 by rockingjude

“The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.” ~ H. L. Mencken

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MILITARY JUSTICE: The Bradley Manning “Article 32 Hearing”…

Posted on 2012 01, 29 by rockingjude
English: Slogan for the support of the persecu...

Image via Wikipedia

Oklahoma City Observer – 2012-01-25

by Philip Fornaci and Susan Alfano

Last month, at the massive Fort Meade army installation, Private First Class Bradley Manning, who grew in Crescent, OK, finally had his “day in court” – actually, seven days of a military “Article 32 hearing.”

The outcome of those hearings is that Manning will stand trial for “aiding the enemy,” among other charges, which could put him in prison for the rest of his life, and possibly result in a death sentence.

Any resemblance to actual justice or due process in Manning’s Article 32 hearing was purely coincidental.

As most of the world now knows, Manning has been accused of making thousands of allegedly “secret” military videos, diplomatic cables, and other documents available to the media outlet, Wikileaks.

Before any evidence had even been presented to a court, Manning had already been punished beyond the bounds of the U.S. Constitution. He’d been subjected to months of torturous conditions of confinement, including sleep deprivation, complete isolation from human contact and forced nudity, before being transferred to reportedly more humane conditions in the wake of global outrage.

The evidence we saw presented at the Article 32 hearing does not justify keeping Private Manning in custody, much less continuing these proceedings for a formal trial.

The Article 32 hearing is roughly analogous to a “probable cause hearing” afforded to criminal defendants in civilian courts, but with significant differences. It is actually an “investigative process,” where the government is permitted to unveil its purported evidence in the presence of an Investigative Officer [IO], rather than a judge.

Motions to suppress potentially illegally-seized and questionable evidence were not heard [unlike civilian cases], essentially allowing the government to present its version of the case against Manning undeterred by due process considerations.

The most serious charge against Manning is violation of Article 104 of the Uniform Code of Military Justice, “Aiding the Enemy,” claiming that Manning did “knowingly give intelligence to the enemy, through indirect means.”

The identity of the “enemy” was revealed on the last day of the hearing to be “Al Qaeda, Al Qaeda in the Arabian Peninsula, and ‘classified’ enemies.”

SUPERPOWER: Behind the Scenes of America’s National Security Apparatus…

Posted on 2012 01, 29 by rockingjude

“The only thing new in the world is the history you don’t know.”   -Harry S. Truman

SUPERPOWER: A documentary film by Barbara-Anne Steegmuller

SUPERPOWER: A documentary film by Barbara-Anne Steegmuller
Available to order from Global Research:
https://store.globalresearch.ca/store/superpower-dvd/

SUPERPOWER is a comprehensive film that asks tough questions and goes behind the scenes of America’s national security apparatus and military actions. Far from a conspiracy film about the dangers of government secrets and regime change, this well-balanced film straddles the philosophical divide and allows viewers to understand the US quest for global dominance through economic and military strategy that is exposed through review of historical events, personal interviews, and analysis of US foreign policy.

Featuring interviews with Michel Chossudovsky, Bill Blum, Chalmers Johnson and Noam Chomsky, among many others.

SUPERPOWER has won a number of awards, including the 5th Annual Hollywood F.A.M.E. Award for Documentary of the Year 2011 as well as the 2011 32nd Annual People’s Choice Bronze Telly Award.

For more information, visit:
http://superpowerthemovie.com

Available to order from Global Research:
https://store.globalresearch.ca/store/superpower-dvd/

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A Little of this and a little of that~recapping last week~By rj sigmond

Posted on 2012 01, 23 by rockingjude

SOPA Resistance Day!

Image by ~C4Chaos via Flickr

~it was a bit of a weird week, because a number of the stories which garnered the most press & posting fell out of the purview of what i’d normally cover; namely the saber rattling with iran, the internet protest against the “stop online piracy act”(SOPA), and election year politics, & most specifically the tax situation of mitt romney, who admitted that only he paid around 15% taxes on proceeds from his vulture capital ventures, which precipitated a feeding frenzy in the left econ blogosphere as dozens of posts were produced showing how the wealthiest americans only paid a maximum of 15% tax on capital gains (paul krugman mustve had a half dozen posts on it all by himself), or less tax than those making $34,000; sadly, its all been said before, several times, in several contexts, ie, by warren buffett, who noted that his secretary was taxed at a higher rate, and by others in regards to the top 25 hedge fund earners who garnered $22.07 billion in 2010, and by virtue of the special treatment of their earnings, paid taxes at a lower rate than the typical middle class household…anyhow, all of this rehashing did bring back an old graph of interest, which is included here to the right, showing effective tax rates for certain ranges of income, from those below $34,390, who average a 6.7% tax rate, to the 4 high bars of incomes between $74,700 and $345 million who all pay an average around 21% of their income in taxes, to the 400 richest households, who all take in more than $345,000,000 yet pay only 16.6%, less that the rest of the high brackets…even if you werent online wednesday, i imagine you heard something about the protest against SOPA & its senate sister PIPA, as most news outlets at least gave mention to the fact that wikipedia had shut down (you can read the Wikimedia press release here)… the two bills had their origins with the music & movie industies, who wanted to stop pirated downloading of their works…but the bill was so all inclusive that it would also hold liable not only those who copy copywritten material (like yours truly), but also website owners such as facebook & wikipedia where the public might post such material, & even anyone who linked to such a site, and also would effectively require every blog administrator to police his comment section for such material posted by anonymous outsiders…those in violation could have their ISP addresses blocked, or would no longer be recognized by their domain name servers (ie, www.google.com would no longer get to google)…as a result of the protest over 100 websites shut down (list here), most linking users to a petition to be sent to congresscritters & the administration…by thursday key congressional sponsors of SOPA abandoned the bill, and at least 18 senators withdrew their support from PIPA…but dont be surprised if it comes back in another form, as most in congress still believe in possession of ideas & ownership of thoughts, and the independent power of the internet runs counter to the ongoing attempts to impose a police state in this country…over a dozen links to this story are in the section at the end of this package, with OWS & other news not included in my blog…

Contributors to the major candidates for President according to how much spent…

Posted on 2012 01, 13 by rockingjude
Goldman Sachs New World Headquarters

Image via Wikipedia

These table lists the top donors to this candidate in the 2012 election cycle. The organizations themselves did not donate , rather the money came from the organizations’ PACs, their individual members or employees or owners, and those individuals’ immediate families.Organization totals include subsidiaries and affiliates.

Because of contribution limits, organizations that bundle together many individual contributions are often among the top donors to presidential candidates. These contributions can come from the organization’s members or employees (and their families). The organization may support one candidate, or hedge its bets by supporting multiple candidates. Groups with national networks of donors – like EMILY’s List and Club for Growth – make for particularly big bundlers.

MITT ROMNEY (R)

Goldman Sachs $367,200
Credit Suisse Group $203,750
Morgan Stanley $199,800
HIG Capital $186,500
Barclays $157,750
Kirkland & Ellis $132,100
Bank of America $126,500
PriceWaterhouseCoopers $118,250
EMC Corp $117,300
JPMorgan Chase & Co $112,250
The Villages $97,500
Vivint Inc $80,750
Marriott International $79,837
Sullivan & Cromwell $79,250
Bain Capital $74,500
UBS AG $73,750
Wells Fargo $61,500
Blackstone Group $59,800
Citigroup Inc $57,050
Bain & Co $52,500

~jude conclusion…Banks….Investment Corps…

RON PAUL (R)

US Army $24,503
US Air Force $23,335
US Navy $17,432
Mason Capital Management $14,000
Microsoft Corp $13,398
Boeing Co $10,620
Google Inc $10,390
Overland Sheepskin $10,350
IBM Corp $8,294
US Government $7,756
DUNN Capital Management $7,500
Corriente Advisors $7,500
Greenstreet Co $7,500
Northrop Grumman $7,272
Lockheed Martin $7,208
Intel Corp $6,855
US Dept of Defense $6,524
United Technologies $6,316
Federal Express Corp $6,255
Entergy Corp $5,950

~jude conclusion…Military…he advocates less/to no wars and major Corps….

NEWT GINGRICH (R)

Rock-Tenn Co $27,500
Poet LLC $20,000
First Fiscal Fund $15,000
Pull-A-Part Inc $15,000
Amway/Alticor Inc $10,000
State Mutual Insurance $10,000
American Fruits & Flavors $10,000
Streck Inc $10,000
Windway Capital $9,600
Wirco Inc $8,500
McKenna, Long & Aldridge $7,500
Blackstone Group $7,000
Richardson Properties $7,000
Wells Fargo $5,900
American General Corp $5,000
American Solutions PAC $5,000
J Smith Lanier & Co $5,000
Woody’s Smokehouse $5,000
AFLAC Inc $5,000
Clark Consulting $5,000

~jude conclusion…Insurance & Banks….

RICK SANTORUM (R)

Blue Cross/Blue Shield $18,000
Universal Health Services $17,250
Kimber Manufacturing $12,300
El Dorado Holdings $10,000
Achristavest $10,000
CONSOL Energy $8,500
Diamond Manufacturing $8,000
Northwestern Mutual Life $7,650
Pride Mobility Products $6,000
Gleason Agency $5,250
NetApp $5,250
Conestoga Wood Specialties $5,250
Shinn & Co $5,000
Group Fox Inc $5,000
Newsome Eye Clinic $5,000
Citizens United $5,000
Energy Alchemy $5,000
Neal Communities $5,000
Medallion Enterprises $5,000
Mako Global $5,000

~jude conclusions…Healthcare, Insurance, Energy…

RickPerry (R)

Ryan LLC $186,800
Murray Energy $105,504
USAA $69,500
Contran Corp $50,000
Ernst & Young $47,800
Clayton Williams Energy $46,300
State of Texas $44,250
Occidental Petroleum $41,000
Primoris Services $32,500
Allen, Boone et al $32,500
Friedkin Companies $28,000
McNa Dental Plans $28,000
Global Mine Service Inc $27,500
Allen Trucking $27,500
Reschini Group $27,500
Locke Lord Bissell & Liddell LLP $27,000
Phillips Machine Service $25,000
Swanson Industries $25,000
JPMorgan Chase & Co $24,550
Universal Healthcare $24,000

~jude conclusions…energy, TX, Healthcare, Banks…

Michele Bachman (R)

Hubbard Broadcasting $10,000
Empire Office Inc $10,000
College Loan Corp $10,000
Captive-Aire Inc $10,000
Slumberland Inc $10,000
Carbun Concepts $8,000
KMG Tool $6,001
Hanford, Freund & Co $5,250
Citizens United $5,000
Mohawk Moving & Storage $5,000
Slavic401k.Com $5,000
Dcm $5,000
Advance Engineering $5,000
Koch Industries $5,000
Crown Assoc Realty $5,000
Clint Pharmaceuticals $5,000
Keeper Technology LLC $5,000
Target Corp $4,500
United Parcel Service

~jude conclusions…media & SEO, Industry, Pharma, college loans?, Transport…

Barack Obama(D)

Microsoft Corp $171,573
Comcast Corp $113,800
University of California $107,501
Harvard University $99,975
Google Inc $95,066
DLA Piper $75,375
Skadden, Arps et al $69,374
Chopper Trading $64,815
Stanford University $62,928
Time Warner $62,600
Ballard, Spahr et al $62,300
National Amusements Inc $62,100
Arnold & Porter $54,700
Goldman Sachs $50,124
Columbia University $49,347
Latham & Watkins $49,082
Exelon Corp $48,625
US Dept of State $48,077
Mayer Brown LLP $47,700
Sidley Austin LLP $44,825

Please take into account of *HOW MUCH $$$* was contributed by each Corp…or legalize corps employees/shareholders…

http://www.opensecrets.org/pres12/contrib.php?id=N00009638

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Indians signing life away for biometric ID cards (22Dec11)…

Posted on 2012 01, 13 by rockingjude

The people of India are signing their own death warrants as they agree to sign up to their governments ID card system, claiming it will help cut fraud for benefit payments. The real reason is to help the New World Order with population control and access to money, so the 1% can steal it al. For a supposed poor country which the UK shovs billions to, India has lots of other people’s money to waste.

It’s worth remembering that this is the EXACT same system that the crooked New Labour government tried to force on the British people, to comply with New Labour’s NWO agenda.

Recorded from Sky News, 22 December 2011.

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Obama and Geithner: Government, Enron-Style….MATT TAIBBI~ xo

Posted on 2012 01, 13 by rockingjude

Taibbi: Obama And Geithner Are Acting Like Lehman Executives Before The Crash

Strongly recommend this piece at theHuffington Post by Jeff Connaughton, a former aide to Senator Ted Kaufman. Jeff is one of the smartest guys on the Hill and is particularly strong on issues surrounding Wall Street and the regulatory system. In this piece, he takes apart the oft-stated mantra that what Wall Street firms did during and after the crisis was maybe unethical, but not illegal.

He takes particular aim at Barack Obama, who recently tossed that line out on 60 Minutes in what I thought was one of the real low moments of his presidency. Here’s Jeff’s take:

Speaking in Kansas on December 6, [Obama] said, “Too often, we’ve seen Wall Street firms violating major anti-fraud laws because the penalties are too weak and there’s no price for being a repeat offender.” Just five days later on 60 Minutes, he said, “Some of the least ethical behavior on Wall Street wasn’t illegal.” Which is it? Have there been no prosecutions because Wall Street acted legally (albeit unethically)? Or did Wall Street repeatedly violate major anti-fraud laws (and should thus find itself in the dock)?

The President is confusing “legal” with “difficult to prosecute successfully.”

The notion that what Wall Street firms did was merely unethical and not illegal is not just mistaken but preposterous: most everyone who works in the financial services industry understands that fraud right now is not just pervasive but epidemic, with many of the biggest banks committing entire departments to the routine commission of fraud and perjury – every single one of the major banks, for instance, devotes significant manpower to robosigning affidavits for foreclosures and credit card judgments, acts which are openly and inarguably criminal.

Banks and hedge funds routinely withhold derogatory information about the instruments they sell, they routinely trade on insider information or ahead of their own clients’ orders, and corrupt accounting is so rampant now that industry analysts have begun to figure in estimated levels of fraud in their examinations of the public disclosures of major financial companies.

Beyond that, as Jeff points out, Obama is simply not telling the truth about the supposedly insufficient penalties available to regulators. Employing the famous “mistakes were made” use of the passive tense, Obama copped out in his December 6 speech by saying that “penalties are too weak.” As Jeff points out, what Obama should have said is that “the penalties my own regulators chose to dish out were too weak”:

Moreover, the President is misleading us when he says that Wall Street firms violate anti-fraud law because the penalties are too weak. Repeat financial fraudsters don’t pay relatively paltry — and therefore painless — penalties because of statutory caps on such penalties. Rather, regulatory officials, appointed by Obama, negotiated these comparatively trifling fines. This week, the F.D.I.C. settled a suit against Washington Mutual officials for just $64 million, an amount that will be covered mostly by insurance policies WaMu took out on behalf of executives, who themselves will pay just $400,000. And recently a federal judge rejected the S.E.C.’s latest settlement with Citigroup, an action even the Wall Street Journal called “a rebuke of the cozy relationship between regulators and the regulated that too often leaves justice as an orphan.”

What makes Obama’s statements so dangerous is that they suggest an ongoing strategy of covering up the Wall Street crimewave. There is ample evidence out there that the Obama administration has eased up on prosecutions of Wall Street as part of a conscious strategy to prevent a collapse of confidence in our financial system, with the expected 50-state foreclosure settlement being the landmark effort in the cover-up, intended mainly to bury a generation of fraud. Here’s how Jeff puts it:

In Ron Suskind’s book, Confidence Men, he quotes Treasury Secretary Timothy Geithner as saying, “The confidence in the system is so fragile still… a disclosure of a fraud… could result in a run, just like Lehman.” The Obama Administration is pushinghard for a 50-state settlement with the major banks for their fraudulent foreclosure practices, even though several state attorneys general have rejected this approach because, in their view, it would shield too much wrongdoing. Regrettably, Obama’s top officials and lawyers seem more eager to restore the financial sector to health than establish criminal accountability among the executives who were in charge.

In other words, Geithner and Obama are behaving like Lehman executives before the crash of Lehman, not disclosing the full extent of the internal problem in order to keep investors from fleeing and creditors from calling in their chits. It’s worth noting that this kind of behavior – knowingly hiding the derogatory truth from the outside world in order to prevent a run on the bank – is, itself, fraud!

This is exactly the mindset that led Lehman to the abuses of the ”Repo 105″ accounting trick, in which loans were disguised as revenues in order to prevent the outside world from knowing the dire state of the bank’s balance sheet.

Now Obama and Geithner are engaged in the same sort of activity, only they’re trying to prevent a run not on an individual bank, but the entire American financial services sector. Geithner seems really to believe that if fraud were aggressively policed, and the world made aware of the incredible extent of the illegality in our markets, that international confidence in the American financial sector would plummet and our economy would suffer – and suffer, incidentally, on Barack Obama’s watch.

Better, apparently, the Band-Aid the problem now, and let the real mess happen later on, on someone else’s watch, or at least in a second term, when there’s no need to worry about re-election.

Of course, this is exactly the wrong way to go about things. If Geithner and Obama really wanted to convince the world that America’s markets weren’t broken, they would effectively police fraud, and by extension prove to everybody that at the very least, our regulatory system is not broken.

But by taking a dive on fraud, and orchestrating mass cover-ups like the coming foreclosure settlement fiasco, what they’re doing instead is signaling to the world that not only are our financial markets corrupt, but our government is broken as well.

The problem with companies like Lehman and Enron is that their executives always think they can paper over illegalities by committing more crimes, when in fact all they’re usually doing is snowballing the problem so completely out of control that there’s no longer any chance of fixing things, thereby killing the only chance for survival they ever had.

This is exactly what Obama and Geithner are doing now. By continually lying about the extent of the country’s corruption problems, they’re adding fraud to fraud and raising such a great bonfire of lies that they probably won’t ever be able to fix the underlying mess.

If they looked at the world like public servants, and not like corporate executives, they’d understand that the only way out is to come clean. That they don’t look at things that way should tell people quite a lot.

http://www.rollingstone.com/politics/blogs/taibblog/obama-and-geithner-government-enron-style-20111220#ixzz1hCJtsRzA

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