Forum Post: You Must Become Pitchforks!
Posted 13 years ago on Oct. 10, 2011, 2:12 p.m. EST by ancillary
(65)
This content is user submitted and not an official statement
“My administration is the only thing between you and the pitchforks.”
- Barack Obama.
Financial reform has stalled. Economic recovery has stalled and Obama cannot get his JOBS bill through. Why?
Because the bankers have been fighting back. They bankroll the Tea Party and behind the scenes they have been buying out members of Congress.
For financial reform to become a possibility, you must become the pitchforks.
Here are two people who must be brought to justice.
Kerry Killinger
- CEO of Washington Mutual for 18 years
- Washington Mutual held $31 billion in bad loans when it failed in 2008
- Kerry Killinger received approximately $88 million between 2001 and 2007
Angelo Mozilo -CEO of Countrywide Financial
- Countrywide racked up 12 billion in losses
- Mozilo enriched himself to the tune of $500 million over the decade
Both companies were giants of subprime mortgage origination. The subprime originators are the prime culprits in the fiasco because they possessed the best on the ground knowledge of the situation. Both Mozilo and Killinger had the federal cases against them dismissed this month, October 1st, 2011.
Those two men should be made examples of. They should spend time in jail and lose every penny. They did far more damage to this nation's economy than Bernie Madoff, and should be punished accordingly.
In 2008 I filed a 150 billion complaint in the Arizona US district court. The reasoning behind this complaint was that I was upset about the bailout money and the bonuses that the banks were giving out to the CEO's. I requested in my complaint information to where the funds were going, also at that time I requested that the remaining 300 billion dollars should be used towards citizens who were facing forclosures. It is my understanding that as a citizen I have a right to request this information. However, the justice department did not think this was proper. Therefore, they aggresively fought the case labeling me as a radical with their briefs. In this suit I listed the treasury department and Hank Pauson as defendants. Shortly after this lawsuit President Obama came to Phoenix after he was elected and alloted some 80 million dollars to help people going through foreclosures. Another 123 million was given to help this cause, yet to this day only 3 houses have been modified. Which brings me to believe that something is not right. I feel that under the freedom of information act that every federal grant should be monitored and accounted for. Therefore I wish that citizens would aggresively pursue under their rights and find out where and how the funds are used, for instance the stimulus funds which incidentally create jobs regardless of what the republicans and other right wing nut cases say, but I feel Obama in passing the stimulus act did not realize that with this amount of money that the potential for fraud is tremendous. This is too much money and impossible for the government to monitor. Although the media such as the Arizona Republic has concerns about this problem it is up to the citizens to monitor them properly under the freedom of information act. I will make a challenge to President Obama, pay me 60 thousand dollars a year and give me 3 helpers or accountants with good eye sight and I will save the government at least $2 million in one year. Again I challenge him even though my energy level is very low and I am 73 yrs old. I am tired of the way things are going, I feel like the middle class and poor are under attacked and I don't like the atmosphere of greed that is being used by wall street corporations ect. Since I filed the complaint in U.S district court the IRS has constantly harrassed me, which pisses me off as I am only on social security. I dont know whether this is Obama's administration but something isn't right when companies like G.E and others don't pay any taxes and Suprme Court Justice Clarence Thomas' wife who made thousands from working at the Heritage Foundation and he put on his tax reform 0. Another thing that bugs me is during the bailout Ben Bernnake and Hank Pausson forced Bank of America to buy Merril Lynch, which cost the investors millions. In all due respect they broke FEC regulations which were against the law, yet the prisons are full of individuals. Are some more equal than others? If you break the law you break the law. Again if I am given freedom of information rights I again challenge the government that I will save them $2 million in one year.
Randy Harberson 623-580-0035 Cell phone 602- 369- 4038 4038 W. Camino Vivaz Glendale AZ 85310
In 2008 I filed a 150 billion complaint in the Arizona US district court. The reasoning behind this complaint was that I was upset about the bailout money and the bonuses that the banks were giving out to the CEO's. I requested in my complaint information to where the funds were going, also at that time I requested that the remaining 300 billion dollars should be used towards citizens who were facing forclosures. It is my understanding that as a citizen I have a right to request this information. However, the justice department did not think this was proper. Therefore, they aggresively fought the case labeling me as a radical with their briefs. In this suit I listed the treasury department and Hank Pauson as defendants. Shortly after this lawsuit President Obama came to Phoenix after he was elected and alloted some 80 million dollars to help people going through foreclosures. Another 123 million was given to help this cause, yet to this day only 3 houses have been modified. Which brings me to believe that something is not right. I feel that under the freedom of information act that every federal grant should be monitored and accounted for. Therefore I wish that citizens would aggresively pursue under their rights and find out where and how the funds are used, for instance the stimulus funds which incidentally create jobs regardless of what the republicans and other right wing nut cases say, but I feel Obama in passing the stimulus act did not realize that with this amount of money that the potential for fraud is tremendous. This is too much money and impossible for the government to monitor. Although the media such as the Arizona Republic has concerns about this problem it is up to the citizens to monitor them properly under the freedom of information act. I will make a challenge to President Obama, pay me 60 thousand dollars a year and give me 3 helpers or accountants with good eye sight and I will save the government at least $2 million in one year. Again I challenge him even though my energy level is very low and I am 73 yrs old. I am tired of the way things are going, I feel like the middle class and poor are under attacked and I don't like the atmosphere of greed that is being used by wall street corporations ect. Since I filed the complaint in U.S district court the IRS has constantly harrassed me, which pisses me off as I am only on social security. I dont know whether this is Obama's administration but something isn't right when companies like G.E and others don't pay any taxes and Suprme Court Justice Clarence Thomas' wife who made thousands from working at the Heritage Foundation and he put on his tax reform 0. Another thing that bugs me is during the bailout Ben Bernnake and Hank Pausson forced Bank of America to buy Merril Lynch, which cost the investors millions. In all due respect they broke FEC regulations which were against the law, yet the prisons are full of individuals. Are some more equal than others? If you break the law you break the law. Again if I am given freedom of information rights I again challenge the government that I will save them $2 million in one year.
Randy Harberson 623-580-0035 Cell phone 602- 369- 4038 4038 W. Camino Vivaz Glendale AZ 85310
come on protesters like you think your going to get what you want? you need to start with your local police departments and National Guard Stations to make them come to arms if you want any change. Other wise you are just protesting producers making movies you don't like.
This movement was funded by $170 million dollars from the green energy fund to the park owner on sept 23. This has been a Democratic planned event for some time. Did you notice the unions and radical left were standing by to jump in and give a hand, did you notice all the free food and handouts, did you see Pelosi and Obama support this movement as a political tool?
They want to make this their movement, when they are the problem. The same people you are protesting are the same people whom funded the politicians in charge.
Do you honestly not see how you are being used? "useful idiots" I believe is the term they call you. Stop being their tool and focus on the source of the problem, Washington.
Why are you ignoring Barney Frank, why is it y'all blame the people who made the money instead of the politicians that made it possible and benefitted on the side?
I believe the Tea Party was hijacked by the Republicans just as the Occupy movement is getting hijacked by the Democratic party. Until people realize these two parties are fronts for the elite ruling class, we will not make any real progress in America.
Thanks! here's some more good info, been following this since 2008, here's what they already know:
Letter tio Ed show in Jan:
Anyway, I have an idea for you to help re-regulate Wall Street, how about arranging a million people march on the Hill to bring back the Glass-Steagall Act and to Close the Enron Loophole once and for all? Considering what's happening in Ohio and Wisconsin, and the Middle East, it seems like a timely thing to do. The public needs to be educated; I feel once this gets out, they will respond accordingly. How about Michael Greenberger as your key note speaker...he was great on your show the other night.
http://www.youtube.com/watch?v=zbdtTGYQBMU&feature=related http://www.youtube.com/watch?v=PNp0y0SjOkY&feature=related http://www.youtube.com/watch?v=f-kExdTgNZA&feature=channel
Be more specific about Glass-Steagall (from an informational perspective, so people can be more focused).
I think the focus should be overturning The Gramm–Leach–Bliley Act which would effectively re-instate a part of Glass-Steagall, the important part that would create a firewall in between investment banking and commercial banking.
yes, that's it!
Thanks for your interest. Basically, the Glass-Steagall Act of 1933 was the solution that ended the wide-spread corruption on Wall Street during the Great Depression by preventing banks and insurance companies from being one, which I feel is the root issue of how we got here. Please read this:
http://www.investopedia.com/articles/03/071603.asp#axzz1aPEc3wXj http://www.counterpunch.org/2008/09/19/shattering-the-glass-steagall-act/
Was reading that first link, I love this part, it made me laugh.
"Furthermore, big banks of the post-Enron market are likely to be more transparent, lessening the possibility of assuming too much risk or masking unsound investment decisions"
Right on! The only way we can get back on safe financial footing again is to close the Enron Loophole for oil speculators and bring back The Glass-Steagall Act of 1933, which prevented the current banking and insurance scams/loopholes. After all, it worked great until late 90's when Congress through it out. Since then, like prior to 1933, we are experiencing what out country went though then, total Wall Street greed.
more to the point, the movement needs to focus its message and it needs to establish what it is against. This movement must be against men like Kerry Killinger and Angelo Mozilo.
We need to put a face on the financial failure. We need to put these people in front of the nation and have them explain why they were so greedy. There are more. One is Franklin Raines. He led Fannie Mae from 1999 to 2004 and received over $20 million/yr in compensation. Fannie Mae went on to rack up approximately a trillion in bad debt.