Bipartisan panel to grill Wall Street CEOs

Bipartisan panel to grill Wall Street CEOs

AP: US MELTDOWN INVESTIGATION

By DANIEL WAGNER and JIM KUHNHENN
Associated Press Writers

WASHINGTON (AP) -- Top bank executives can expect a grilling when they appear before a congressionally appointed panel investigating the causes of the 2008 financial collapse.

Four of Wall Street's most powerful leaders - Goldman Sachs Group Inc. Chairman-CEO Lloyd Blankfein, JPMorgan Chase & Co. CEO James Dimon, Morgan Stanley Chairman John Mack and Bank of American Corp. CEO-President Brian Moynihan

(visit the link for the full news article)

link fixed

[edit on 13-1-2010 by Skyfloating]

One almost needs to wonder is this an actual genuine inquiry or just another 9-11 styled Commission where the official story gets spun to cover up all the unpleasant details.

These are probably the four biggest players in the Financial Industry if not the biggest and likely the biggest beneficiaries of the TARP Funds too.

The congressional panel interviewing them is the same panel that originally investigated the matter back in 2008 that led to asking for the bailouts.

It would seem to me in light of the consequences of those recommendations and decisions that the congressional panel itself would have as many reasons to mold and construe the story as these all powerful financial industries CEOs would have.

You have to wonder what ever legislation or decisions that might eventually come out of this whether they are going to just end making it even easier for the banks to engage in risky endeavors and practices at the taxpayers expense or actually going to protect the public from predatory business practices of companies deemed to big to fail?

AP: US MELTDOWN INVESTIGATION
(visit the link for the full news article)

link fixed

[edit on 13-1-2010 by Skyfloating]

The bipartisan, 10-member panel was handed the job of writing the official narrative of what went wrong before the financial system nearly collapsed in the fall of 2008.

The banking executives summoned to testify spent the days leading up to the hearings in meetings with corporate lawyers and government relations specialists.

It would definitely appear that they have had ample time and motive too in order to prepare their stories and master the wording.

Is the whitewash on? Or is there a chance congress will act resolutely and tenaciously to uncover the massive frauds and schemes perpetrated by the financial industry in the orchestrated running up of financial bubbles that would ultimately burst?

Buckets of whitewash in storerooms , the brush is ready, and there is a guy over there ready to lift the carpet so it can all be swept under.
Expect a severe deludge of BS mixed with the occasional spin.

Sorry but I think an independant enquiry should be held, not by bipartisan members who have probably been bought already.

Nothing to see here move along and drink your Koolaid whilst rolling up your sleeve for the next flu shot.

[edit on 13/1/10 by DataWraith]

reply to post by ProtoplasmicTraveler

Is the whitewash on? Or is there a chance congress will act resolutely and tenaciously to uncover the massive frauds and schemes perpetrated by the financial industry in the orchestrated running up of financial bubbles that would ultimately burst?

If they can catch one of them in an outright lie or fabrication, it may lead to a prosecution but I highly doubt it. For the corrupt to be charged or prosecuted they would have to either hold the entire thing in secret or offer a plea bargain so the whole mess cannot come out.

This will be a whole pat each other on back episode here. They have saved us all from the imminent collapse of capitalism (not real capitalism-perceived capitalism). I find the release of Michael Moore's movie to be highly sinister in the propaganda motif.

To allow any real investigation would possibly put the whole system's corruption on the stand. They will not and cannot allow that to happen. French Revolution comes to mind.

Bernie Madoff is a princess compared to the Banking/Corporation/Government cabal. Later, good read.

Your links-looks like you have a space in the [/url] you have [/u rl]

reply to post by DataWraith


Sadly I agree with you friend. They can appoint independent prosecutors when going after high ranking politicians that rivals want to smear but not for the greatest financial disaster to befall the U.S.?

Makes you wonder, thanks for posting.

Top bank executives can expect a grilling when they appear before a congressionally appointed panel

A grilling!

Everytime I read something like this regarding bankers..... the "grilling" resembles something more like womens' kindergarden badminton.

reply to post by endisnighe


Thanks friend, I can not get that link to display right to save my life. I have tried reposting it 20 times!

The White Wash has begun even before it's begun.

I doubt anything productive will come from these hearings, but we should be aware that they are taking place and as usual doing nothing productive!

Thanks for posting.

Originally posted by ModernAcademia

Top bank executives can expect a grilling when they appear before a congressionally appointed panel

A grilling!

Everytime I read something like this regarding bankers..... the "grilling" resembles something more like womens' kindergarden badminton.

Wouldn't that be little girl's kindergarden badmitton?

Those little girl's by the way can be vicious, they beat me three sets to one the last time I played them and called me lots of mean names.

I cried, oh did I cry!

One thing is for sure with this unfortunate disaster in Haiti we can't expect too much quality coverage on other news fronts for a few days.

I wonder what the New World Order types will do with that little bit of deflection?

Originally posted by ModernAcademia

Top bank executives can expect a grilling when they appear before a congressionally appointed panel

A grilling!

Everytime I read something like this regarding bankers..... the "grilling" resembles something more like womens' kindergarden badminton.

Wouldn't that be little girl's kindergarden badmitton?

Those little girl's by the way can be vicious, they beat me three sets to one the last time I played them and called me lots of mean names.

I cried, oh did I cry!

One thing is for sure with this unfortunate disaster in Haiti we can't expect too much quality coverage on other news fronts for a few days.

I wonder what the New World Order types will do with that little bit of deflection?

reply to post by ProtoplasmicTraveler


My prediction? Nothing will come of it.

Congress is appointing this panel... the same Congress that has sold it's soul to Wall Street.

Federal lawmakers responsible for overseeing the US economy have received millions of dollars from Wall Street firms. Since 2001, eight of the most troubled firms have donated $64.2 million to congressional candidates, presidential candidates and the Republican and Democratic parties. As senators, Barack Obama and John McCain received a combined total of $3.1 million. The donors include investment bankers Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, Morgan Stanley, insurer American International Group, and mortgage giants Fannie Mae and Freddie Mac.
Some of the top recipients of contributions from companies receiving Troubled Assets Relief Program (TARP) money are the same members of Congress who chair committees charged with regulating the financial sector and overseeing the effectiveness of this unprecedented government program. In total, members of the Senate Committee on Banking, Housing and Urban Affairs, Senate Finance Committee and House Financial Services Committee received $5.2 million from TARP recipients in the 2007-2008 election cycle. President Obama collected at least $4.3 million from employees at these companies for his presidential campaign.

Congress, a mere puppet on the strings much like our President, is not going to bite the hand that feeds. It will be a white wash, and perhaps a few people will be made examples of just for appearance's sake. Unless somehow this is a panel constructed by the few good people of Congress, but somehow I doubt that if it was, it would have come this far.

reply to post by Someone336


Some pretty interesting and eye opening statistics you are posting there my friend.

I think it's pretty safe to say that there won't be much grilling done will there?

Well unless it's sausages and bratts!

reply to post by ProtoplasmicTraveler

I think it's pretty safe to say that there won't be much grilling done will there?

Indeed.

Well unless it's sausages and bratts!

Heck, maybe they'll decide to cut out all the middle men and grill the American citizen!

One thing is for sure, I've started a blog called Newspeak Watch to monitor the corporate takeover of America and it's impact here and abroad, and I will be monitoring this story very closely!

reply to post by Someone336


Actually that corporate take over of America started in 1861. That's really what the Civil War was about.

It pretty much was all she wrote come 1911 and the Federal Reserve Act.

Now it's just how long can the Government really get away with pretending that it is a corporate government run by corporations for corporations.

Sounds like an interesting blog!

reply to post by ProtoplasmicTraveler


I do agree with you that this is a large term thing, and the fact that more people don't know who was really behind the Federal Reserve is extremely astounding to me.

What I find interesting today, though, is just how much more blatant the plutocracy in this country is, and I posit that it is do to the success of economic globalization. It's the icing on the cake, so to speak, and the American taxpayers are unknowing dupes as are looted to pay for fancy houses, nonstop wars and neo-imperialism.

reply to post by Someone336


Taxpayer? Isn't that a politically correct way to say economic slave?

The fact of the matter is that the Powers that Be have done such a great job at submerging the average American's intelligence and awareness that even though their globilization efforts are going great, they can't get us to revolt and rebel to disarm us to save their lives.

I feel kind of sorry for them on that score.

They will take over the whole world and most of America won't even pay any attention to it.

Heaven help them though if they take John Q Public's parking space or cut him off in traffic!

[edit on 13/1/10 by ProtoplasmicTraveler]

reply to post by ProtoplasmicTraveler


If they want a revolution, all they need to do is shut down everyone's cable. If there is one thing that gets the average American up and ready to fight, it's faulty electronics.