President Obama, you're a hypocrite of the highest order and have absolutely no right to lecture any third-world banana republic while your administration practices every form of public and private corruption seen in such back waters of humanity - plus dozens they aren't sophisticated enough to figure out.
From the UN speech today (which, incidentally, got lots of press coverage while Geithner's dissembling in front of Congress got none):
Developing nations must root out the corruption that is an obstacle to progress – for opportunity cannot thrive where individuals are oppressed and business have to pay bribes. That's why we will support honest police and independent judges; civil society and a vibrant private sector.
How about developed nations? Let's run a short list right here:
A banking system that has Congress so far in its pocket that it persuaded Congress tothreaten FASB in open Congressional hearings this spring if they did not change accounting standards to effectively legalizeaccounting fraudthrough "mark to make-believe." This scam that Congress shoved down everyone's throat at the behest of the banking lobby continues to this day.
A banking system that has Congress, The SEC, OTS and OCC so far in its pocket that despite overeightyexamples of hard proofof falsely-inflated asset valuations and willful misfeasance by OTS and OCC in seizing insolvent banksbeforethey result in FDIC lossthe willful blindness continues to this day, causing the FDIC to teeter on the edge of running out of cash and begging the obvious question:Are all the large banks as far beyond insolvent as these regional and local banks have been proved to be once seized?
A blatantly-corrupt OTS (banking regulatory body) that wascaughtconspiring with IndyMac to "backdate" deposits so as to falsely present a better financial picture than really existed at the time. The person at OTS involvedhad previously been caught doing the same thing during the S&L crisis BUT WAS NOT FIRED AND BARRED FROM FUTURE BANKING REGULATORY WORK!Nobody has been indicted in connection with this outrageous "in your face" fraud. Worse, the OIG's office said there were other examples - but refused to name them; are those institutions still operating?
Congressfolk who got "Friends of Angelo" mortgages -(plenty more at site)
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