Interesting piece on Harvard's financial troubles here....with a cameo appearance by none other than the always gassy Larry Summers....where ever Larry goes financial collapse is sure to follow....Labels: financial crisis, gassy, harvard, Larry summers
Bill Moyers recent interview with William Black is devastating to the Bush And Obama Administrations, particularly brutal to the fraud Obama. I repeat: this is Bill Moyers not some Fox News talking head.
From Bill Moyers Journal:
-Our system became a ponzi scheme.
-The crisis we are going through is fraud...by top elites...and that's what we have...
-BILL MOYERS: To hear you say this is unusual because you supported Barack Obama, during the campaign. But you're seeming disillusioned now.
WILLIAM K. BLACK: Well, certainly in the financial sphere, I am. I think, first, the policies are substantively bad. Second, I think they completely lack integrity. Third, they violate the rule of law. This is being done just like Secretary Paulson did it. In violation of the law. We adopted a law after the Savings and Loan crisis, called the Prompt Corrective Action Law. And it requires them to close these institutions. And they're refusing to obey the law.
-The Bush administration and now the Obama administration kept secret from us what was being done with AIG. AIG was being used secretly to bail out favored banks like UBS and like Goldman Sachs.
-BILL MOYERS: Yeah. Are you saying that Timothy Geithner, the Secretary of the Treasury, and others in the administration, with the banks, are engaged in a cover up to keep us from knowing what went wrong?
WILLIAM K. BLACK: Absolutely.
I do hope you will watch the entire show here. BushBama is alive and well.
Obama is a fraud.Labels: Barack Obama, financial crisis, george w bush
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