Tea Party Leadership Supports Bankster Felonies
The Market Ticker ® - Commentary on The Capital Markets
Posted 2011-11-19 11:17
by Karl Denninger
in Editorial
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Tea Party Leadership Supports Bankster Felonies
 

But you, the common man, does not have to.

Many have asked why I became so critical of the "Tea Party" around the election in 2010, and why I've continued that criticism since.  You can look up the articles; they're many and varied. 

My view has just been validated by a major lobbying organization in DC with the following memo:

According to the memo, if Democrats embrace OWS, “This would mean more than just short-term political discomfort for Wall Street. … It has the potential to have very long-lasting political, policy and financial impacts on the companies in the center of the bullseye.”

The memo also suggests that Democratic victories in 2012 should not be the ABA’s biggest concern. “… (T)he bigger concern,” the memo says, “should be that Republicans The Tea Party will no longer defend Wall Street companies.”

Two of the memo’s authors, partners Sam Geduldig and Jay Cranford, previously worked for House Speaker John Boehner, R-Ohio. Geduldig joined CLGC before Boehner became speaker; Cranford joined CLGC this year after serving as the speaker’s assistant for policy.A third partner, Steve Clark, is reportedly is reportedly “tight” with Boehner, according to a story by Roll Call that CLGC features on its website.

Got it folks?  "Your" (The Tea Party's) political party has been defending the acts that led into the mess we are in today and continue to do so.  The fear is that they might stop doing so.

Remember this Ticker from the other day?

The political folks who utterly refuse to address this issue - including the so-called "Tea Party" (Joe Walsh anyone?  Or how about Steve Southerland?) are simply pointing out that you are considered peasants and under the boot of an imperious King who grants those in his favor the right to screw you with impunity.

If you continue to support and vote for these jackals on either side of the aisle -- if you continue to provide consent of the governed to the government under those terms -- then you're consenting to being screwed. 

It's that simple folks

You want to know why "OWS" is right?  It's found right here in this sort of so-called "justice" that the SEC is trying to mete out.  And don't start this crap about it only being "Democrats" that do this sort of thing: The Republican Party controls The House which means it also controls appropriation of funds and could literally close any department or agency that refused to bring actual prosecutions and demand actual jail sentences.

Along with this chart:

Note that under "three strikes" laws any person who had three dots on that line above would be locked up for life.  Therefore, any firm with three dots or more under the very same rule of law must not be allowed to continue to exist.

How can this continual, repeated and intentional violation of the law happen?  There's only one way: The institutions involved have to be protected by the government.  But the government's job in this instance is to prosecute such actions, not protect those who engage in them.

It is the very protection of these sorts of acts that in fact led to the American Revolution!

Go read that linked Ticker again and understand this folks: The Wall Streeters and lobbyists know that if the common man Tea Partier and Occupy Wall Streeter come together and execute non-violent decisive action -- such as a national general strike until the rule of law is enforced -- their game is over.

And what is their "game"?  That's simple: They're robbing you.  Serially, intentionally, even violently using the force of government to obtain your property under fraudulent pretense.

"They" know the risk if you put away the divisive rhetoric and foolish name-calling and instead come together and, as the actual 99%, withdraw your consent to being screwed.

There is only question remaining: Are you up to the challenge?

Discussion below (registration required to post)
 

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Dirtyshirt
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Tea-Party members often brag how peaceful and calm their protests are compared with OWS.

That's a given if all they've done is morphed into the status-quo and become no more then another gathering of Republicans.
Onelegged
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Wait. I thought corporations where people. Why no "three strikes" for these ass rapers?

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The light at the end of this tunnel is a train.
Wis/min
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I read the entire unsolicited memo that was not acted on BTW and I don't read it the same way as our host.

There seems real concern that the tea party and the OWS will coalesce around issues that that would be in opposition to wall street interests.

What am I missing?

Quote:
The CLGC memo raises another issue that it says should be of concern to the financial industry -- that OWS might find common cause with the Tea Party. “Well-known Wall Street companies stand at the nexus of where OWS protestors and the Tea Party overlap on angered populism,” the memo says. “…This combination has the potential to be explosive later in the year when media reports cover the next round of bonuses and contrast it with stories of millions of Americans making do with less this holiday season.”

Mike57
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Here's some video on the memo : http://openchannel.msnbc.msn.com/_news/2....
Genesis
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Hehehehe......

Well, you're gonna LOVE the email that was forwarded to me this morning that originated with the head of the "Legislative Committee" from one of the local Tea Parties.

I have emailed them back and given them the opportunity to.... uh.... "expand" on (more like "retract and/or modify") their comment before I (might) choose to publish it.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Duc888
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Money corrupts.

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...burp
Wis/min
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If the tea party is returning to its roots, that is a good thing.

Boehner can go pound sand.

He should never have been elected House leader.

Genesis
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They most-certainly are not in general.... but some local parts are.

One of the BIG local groups is NOT.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?

Wis/min
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There have been different factions of the tea party from the beginning.

It is what it is.

Mo
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I turned Rush on this week for about 30 seconds and he was screaming that the problem was the government not the banks.

One script, one message, all to defend their favored crooks.

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Crzymorse
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I read the memo, hardly surprised..... The Anti-OWS talking points have already been distributed to fox and talk radio, this so called unsolicited memo is a day late and probably 850k short. Does give us some insight into the working of the propaganda machine though. These lobbyist firms are essentially people herders. Guys like Hannity are the unknowing fools that pick it up and spout it to the masses..
Wis/min
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Quote:
I turned Rush on this week for about 30 seconds and he was screaming that the problem was the government not the banks.
Well I agree that the government is the root cause either through lack of enforcement or stupid regulation.

It's a matter of perspective.

The government has allowed this to happen whether intentional or not.
Duc888
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I can smell the fear in Rush and Hannity....their whole career depends on herding the cattle....and now there's some wolves nipping at their heels. I was talking with a friend this morning and we agreed that ElRushbo is on the wrong side of this fight. At the end of this debacle he'll eat his words and be totally discredited. He doesn't realize it now but he's Bagdad Bob. You'll notice he never talks about the fraud.

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...burp

Enapa
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Karl what motivates you so much? I have given up. I feel deeply that no matter what we will not turn any of this around. What is it that drives you and gives you the belief that we can change any of this? Thanks.
Genesis
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I never give up.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Winstonsmith2009
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http://patrick.net/forum/?p=1162830

More Moral Hazard on the way

Brought to us courtesy of senators Kay Hagan of North Carolina and one of the banking lobby's most obedient lap dogs, Bob Corker of Tennessee;

The United States Covered Bond Act of 2011 is designed to allow bundling of any kind of debt including derivatives, into marketable securities guaranteed at full face value by the FDIC.

Asset classes eligible to be rolled into Covered Bonds are shown below including "H" which leaves the door open for anything left over, What would qualify would be the decision of one unelected official, the treasury secretary/Goldman Sachs representative.

(A) a residential mortgage asset class;
(B) a commercial mortgage asset class;
(C) a public sector asset class;
(D) an auto asset class;
(E) a student loan asset class;
(F) a credit or charge card asset class;
(G) a small business asset class; and
(H) any other eligible asset class designated by the Secretary, by rule
and in consultation with the covered bond regulators

The full text of the bill is here.
http://www.hagan.senate.gov/files/111109....

Thanks Bob Corker for working to build this new FDIC insured landfill where our TBTF banks can dump all of their unwanted financial refuse and collect 100 cents on the dollar on their way out.

Please write your congressman to stop this before it is too late.
Glasshammer
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The more I watch business and government interact the more I am reminded of a quote from the movie Rounders:

"It's like the nature channel... you don't see Piranhas eating themselves, do you?"

Wis/min
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Quote:
I can smell the fear in Rush and Hannity
I think you misread Rush.

But far be it from me to convince you otherwise.

Hannity is boring in the extreme.

I can't stand more than a few minutes of his repetitive crap.
Brian_cali
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Awww, cue another PR troll offensive, starting an account to post a single post before disappearing. :)

The moment that Dick Armey took over the "Tea Party" movement with his group, I knew it was doomed.
Crzymorse
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Hey Winston,

This has always been about passing the trash and bailing out the elite. God forbid somebody losses money on an investment.

I guess you can soon buy a blended **** pile... I can see the transparency in those securities. They probably will be AAA. If you combined Greek debt, with car loans, home mortgages.....
Winstonsmith2009
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Enapa: "I feel deeply that no matter what we will not turn any of this around."

The OWS movement and the still too rare talk of cooperation between the Tea Party and OWS gives me some hope that there may be some chance of peaceful change, assuming the US crash doesn't come before that happens. Even a crash may just cause a _vastly_ larger OWS movement allied with the Tea Party (i.e., left + right acting in concert) instead of a violent revolution.
Duc888
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Quote:
I think you misread Rush.


How so?

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...burp
Winstonsmith2009
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Friday, 18 Nov 11 - Police Pepper-Spray Seated Protesters At UC Davis (video)

http://www.businessinsider.com/police-pe....



Wis/min
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Duc888,

Rush's take is that government caused the problem.

Do you agree or not and why?
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