Obama adviser made millions from TARP banks
Lawrence Summers, director of President Barack Obama’s National Economic Council, earned millions working at a hedge fund and speaking to banks such as Citigroup Inc. that later received taxpayer bailout money.
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VJ
He is not the only one and all of them are involved.
I came across article by Simon Johnson who was chief economist at IMF and his article appeared in "The Atlantic" http://www.theatlantic.com/doc/200905/imf-advice/
It is a thought provoking and tells a lot of our state of economy and much more.
Everybody should read it.
jerseygrown
Are you really willing to let this traitor stay in the White House for the full 4 years???? Will there even be a United States in 4 years after he's done??? Look at the damage he's done in a few short months and what a POWER TRIP he's on!!!! HE'S GOT TO GO NOW!!!!!!!!!
Peter
I say we hang this thief by his thumbs the way Barney Frank and Chris Dodd wanted to do with the AIG execs and, furthermore........ Oh! Wait... I just read this guy was an Obama advisor. Then it's OK that he bilked the public out of millions and made his fortune driving financial institutions in the ground. After all, Obama must be loved.... in NYC, LA, BOSTON, CHI, etc... you know, the heavily populated cities with large welfare budgets. Therefore, Obama couldn't hire anyone for an advisor that wasn't 100% honest. Otherwise, ABC News would have to put it on prime time newscasts and the NY Times would make it a front page story. His people obey the law, love our military, respect private property and pay their taxes without fail..... sometimes.
Countrygirl
If these are the type of people obama puts in his administration and who he associates with look a little harder and dig a little deeper and you will find out that obama is just like all of these selfish, self-centered people. The liberal politicians don't care about us or America anymore only what they can take from us. They don't think that it will come back on them. My word people, are we better off now or a year ago? I do believe that they are in for a big surprise when they start counting the people who show up at the American Tea Parties. We The People need to take our country back.
Anonymous
A Nationwide march is what we need; state capitols and DC. Something has to be done sooner than later. Obama is the worst thing that ever happened to our country. Obama, Pelosi, Reid, Frank, Dodd....they all need to be removed. I have emailed my senators & congressman, all you get back is their standard response email. I say an organized peaceful demonstration, just watch & see where the coverage will be, probably only on FOX, all the others are in Obama's back pocket....
jg
Hey pnp, i agree.....they all laid low and knew what was happening!!!
Jacqui
Ok, Obama and Dodd were recipients of the bail out, What can we do ?? Wher are the Lawyers, Judges? Yes,we should all storm Washington,like the million man march!
Mrs. Dee
Geithner & Summers should go. They were part of the problem in the first place.
Jon
Hey! isn't that a prerequisite for getting a job with this administration? Gotta be a tax cheat and have screwed the country somehow???
pnp
This may sound strange, but I am beginning to believe - after all that Obama has done, the way our Congress is doing things, things I have read - that the past two years, our Congress sat there those two years just lying in wait. They knew Bush was in trouble, and they knew if they did nothing to fix things it would all but quarantee them a takeover of our goverment. Pelosi had an agenda from day one. There is no way these people did not see what was about to happen - I remember hearing two years ago on TV that the housing bubble was going to burst, that wall street was headed for major problems, the SEC knew all about Madoff, the list goes on and on.......yet our Congress did nothing?? Ask yourself why????
Donna
I thought the same thing as soon as the Democrats took over power in the senate two years ago. My husband and I had many discussions regarding this. We knew we were in for bad times. What actually brought this home to me was when the one democrat (I forgot who said it) stated that it was now OUR TURN! (meaning the democrats could now run things to their liking). This has come to pass. The majority of Americans can now sit back and watch the Democrats (and spineless Republicans) tank our country. I did not vote for King Obama, nor would I ever vote for him. He is to much of a questions mark along with the rest of the Fascists in office. Hang on America, we are in for a bumpy ride!
Anonymous
He must be a Bilderburger after all most of Obama's staff is and so is Obama, he is just their puppet they say jump and Obama asks how high every time after all he is promoting their agenda and not the agenda of his left wing looneys even tho most of them don't know it yet, because they are so wowed by his ability to read a teleprompter, not withstanding the broken promises so early in his, hopefully short time in office if he is impeached.
pnp
Washington itself isn't getting richer, the people we elect are. The democratic congress sat there for two years, doing nothing, except, living off the taxpayer, reaping the benefits of the housing bubble, and a good stock market, ignoring their jobs and ALL the warning signs - just watching AIG, Fannie Mae, Freddie Mac, banks etc. falling apart. They put laws and regulations in place that they dont enforce, that dont seem to apply to them, just us.
I think that since they want to live by their own set of laws, and dont seem to think they need to do the jobs they are elected to do, (after all, they are supposed to work for us), I think the states should secede from Washington DC and let them have their own laws and spend their own money.
John in Pensacola, FL
I'm still waiting for Obama to produce his birth certificate.
Proud American!
Yes, the original vault copy! Orly Taitz as been working on this for months! For some reason all the challenges to his eligbility are getting ignored, dismissed and swept under the rug!
http://www.defendourfreedoms.us/
Polly-Sigh
Glad I am not the only one still wondering about this. I mentioned elsewhere - I believe his senate seat was not the only one for sale!
Steve
John, you can wait for that birth certificate till the cows come home! As long as his cohorts in the media continue to cover the endless drivvle about this guy and his wife there will be no honest coverage of how he got to where he is. Try to get a passport without a birth certificate with a raised seal.
pnp
Dont hold your breath!!
Anonymous
This certainly doesnt surprise me! Obama has surrounded himself with lobbyists and wall street people, the very people, and issues, he campaigned against. I cant think of anything he campaigned on that he stands by - no transparency, no bipartisan gov., change - he just put us deeper into debt.
Their Recovery.gov that supposed give transparency to all our tax dollars is a
joke. There isnt much substance to it - doesnt even tell that the bailout funds have almost doubled from what we were originally told. Its nothing more than a political gimmick, to make us "think" they are being transparent, yet it really doesnt tell us anything.
Charlie
This is why everyone should be asking their Congressmen and Senators for an investigation into whether the Obama Administration has been harassing the banks into not returning TARP dollars. I have sent that request to my Senators and congressman here in Virginia.
Sam
Help me out here.Is Washington getting richer and "We The People" are getting poorer? The more oppressed "We The People" become,the more democratic we vote?There by,they are buying the next election. By 2010 and 2012 we will all be sheep,watching our 101ks disappear,private healthcare disappear,lib view schools teaching the next generation how to think(or not think),and forget driving the car or restricted hours of heat and lights to your home.They want controlled,zombie-like,oppressed people.We will all be begging the government to do more for us.Our rights will be gone ,but we won't care,because we will just be trying to survive.Look around the world at other oppressed countries.Learn what they do just to survive.
Steve
Sam, You seem to at least have an idea about what is going on, unlike many of the sheep that heard Obama's rhetoric and then went out and blindly voted for him anyway. Expanding Government by employing more and more, will eventually lessen the amount of producing citizens that pay taxes to support Government services. The Socialist agenda is to eventually get Union members, Teachers, The Uaw, Gov't. workers, amnesty for illegals, etc. etc. on the same page, until enough of the wealth of the nation has been re distributed through taxation for their salaries, retirement. medical, and other benefits. Eventually there will be more non producers voting for their own self interests than producers who will pay more and more until the system caves from it's own weight, just as history proves. Marx said it well, "To each according to their needs, from each, according to their ability."
We do need Government, but it has to remain limited, just as our founders intended.
Anonymous
Nothing surprises me with this administration.
rrf
The majority in this country voted for this guy and the rest of us have to deal with it -- at least until 2012. Unfortunately, he can do a lot damage in the mean time.
The love of our country
I have signed all the petitions and have sent them to all my friends, family, etc. We will succeed! I love this country! I refuse to send my child to the public schools, I will teach them of the values of this great country and nothing comes for free. Our voices need to be heard.
bob hoff
Thomas Jefferson said it best "My reading of history convinces me that most bad government results from too much government".
BR
How much does Bob Beckel get paid by Fox. It needs to be taxed at 90%. A supid tax.
Gary-Illinois
What do you expect from this hasbeen/burntout?
Andrew
What are we doing? Why are we allowing Washington to continue down this horrid path? Aren't you sick of it? If you are then let’s take our country back! Let’s show Washington that we know what is best for us, not them. Let’s show the world that America is still the greatest country on Earth. Let’s show our future generations that we care about them and we don't want them to pay for our mistakes. We cannot sit back and wait any longer. We must wake up. This isn't about Republicans and Democrats this is about right and wrong, and the path our government is currently on is WRONG!
I know I am not alone in my frustration. This frustration is shared with citizens all across the country and will be seen on April 15th. April 15th is "tax day". April 15th is also going to be a day for tea parties. These are not your ordinary tea parties. These are going to be parties for those who are ready to wake up, for those who are sick and tired of our "leaders" in Washington, for those who want to control more of their money and who are sick of watching Washington spend, spend, spend. April 15th is going to be a day where Democrats, Republicans, and Independents stand together to send Washington a message. We are going to scream from all corners of this great country; "We want our country back, you work for us!!"
"You work for us." Now that's a crazy thing to say. This is something we all must understand. Those in Washington have forgotten who they work for, who pays their salaries, who actually control their employment. We control all of this, but the past few years we have given up our control to those in Washington. We must change our ways. We cannot continue to sit back and let Washington dictate our lives.
I love this country, our constitution, our founding fathers, and the great minds that have, over the years, contributed to the greatness of America. This love is stronger now because I am starting to believe that some in our country see a different America. They long for an America that encourages redistribution, more government control, and more spending. These are the same people who argue for a collective view of America instead of praising the individuals who make up America. This is not what our founding fathers wanted and this is not what I want. We must get back to our roots. The world is watching and the world is waiting to see the mighty America fall and I refuse to sit back and let that happen. Wake up America! Please join me on April 15th in sending a message to Washington.
Just some thoughts from a God fearing, America loving voter!
Anonymous
It's great that he understands and respects making money. But once some peple get really rich they get guilty and feel they need to "give back". If they're conservative, they give back to their church or charities. If they're liberal they determine that we're all to materialistic and give back with taxpayers money.
Anonymous
I have been trying to think of ways that this administration and those in Congress will take the dissatisfation of so many Americans seriously. Tea parties are a great beginning, but because dates and times don't necessarily coincide, they may not be taken seriously. I think perhaps we should stage a nationwide march on each state capital. All done the same day and at the same time. Our voices might be heard then. We could draft a list of what we want from our government (since they supposedly work for us) such as term limits, lower taxes, less government , corruption investigations, etc. Numbers speak. Nationwide numbers simultaneously speaks volumes
DemNoMore
Great Idea! I have been saying since Bambam has been elected that he will cause a revolution! He is not the person he claims to have been. Wake up Lefties,he is giving out country away!!!!
Sue
one central date, when most people will be off of work, anyway... JULY 4.
i'd like to see something massive and nationwide.
JOHN, PENSACOLA, FL
Its time for a million man march on Washington. I recommend July 4th. Its time to throw the bums out.
Anonymous
This is a great idea, but I would take it a step further to suggest an organized peaceful march in Washington D.C., instead of state capitals.
DemNoMore
Good thought,but I don't think everyone can afford to go to DC given the screwed up state of our economy. I say march in dc and every state!!!!!!We must take our country back!!!!
Anonymous
I had thought of that, but then thought individual state demonstrations done simultaneously could generate more numbers if each state capital had a peaceful march. It is easier to travel to my state capital a half hour away, than to travel to DC which is14 hours away. It may also have a more profound effective on our respective representatives to learn there are people in each individual state dissatisfied with the way things are in Washington.
Anonymous
Glenn Beck is actually working on that list on his site, and I'm working on taking a "roll call" for government officials with values.
There's enough of us not to be ignored anymore. http://912candidates.org
Allie
Your list, Anon, will be a short one indeed.
Anonymous
Thank you for posting this link!
Anonymous
Government has shown it is capable of running only the military and law enforcement. That is all i want and expect from my government. Physical safety and security so i can be responsible for my own life.
Anonymous
Why don't we regulate Larry Summers and retro his taxes on these over the top fees?
Obama administration just proves the old adage 'there is no honor among thieves'.
Charlie
You might also look at what Bershire Hathaway and George Soros are making off of the TARP bailout also. This is nothing more than legalized theft and Fraud by the Obama Administration.
Allie
Agreed. WHERE on earth is the outrage? Are people too busy with their new IPhones and video games that they fail to see what is happening to this once great nation?
American 1st
Why is this a surprise? If I wanted to steal I'd hire a thief !!!!
Big Slick
Hey American 1st, It's no suprise to anyone. Obama has yet to be credible himself, much less hire anyone who is.
Please explain
How does one get out of a deep hole by digging deeper?
The Truth
Too many Americans have become fat dumb and lazy. The ongoing welfare state engineered largely by the Democratic Party over the last 60 years has led to complacency by the public. Sadly it will likely take a nuclear terrorist strike on a US city or hyperinflation here to wake people up out of their slumber. I miss the $4.00 gal gasoline. At least people were paying attention then. Now its back down to $2.00, people have blindly forgotten. Meanwhile, Congress and Obama's EPA and Secy of Interior are hellbent on preventing any more oil/gas production in this country. The manmade CO2 "problem" is a hoax, however socialist/fascist govt control of the economy is an all too real possibility here.
Charlie
As much as I hate to say this I am going to be glad when we start seeing the taxes being raised on everything from food to rent because it will mean that every day ordinary people will start taking notice of what this Administration is really all about. THEFT AND TAXATION should be the rally call for the Obamanites.
Anonymous
2 term limits for all congress members, period, just like for the president.
by the way, when do we start the "IMPEACH OBAMA" movement ?!!
oh, and the recall pelosi, reid, schummer, dodd, murtha, feinstein, and franks
movement?!!