Friday, May 8, 2009

Class Today at NoBullU on WEBY

Listen to the voice of wisdom and reason in a wilderness of partisan rhetoric -- No political insanity, no conservative hypocrisy, no liberal foolishness -- Just straight talk, straight at you, and that’s no bull!!

NoBullU will broadcast today from 4:05 to 6 p.m. at 1330 AM WEBY and on line, courtesy of Cyber Smart Computers.


Local and state: TBD; and

Nation and international: greed, good or bad, with special guest Mom & Pop Tammy at 4:35 p.m. (BTW, there's talk of a sequel to the movie Wall Street. Remember this quote from the movie by Gordon Gekko: "The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own. We make the rules, pal. The news, war, peace, famine, upheaval, the price per paper clip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it. Now you're not naive enough to think we're living in a democracy, are you buddy? It's the free market. And you're a part of it. You've got that killer instinct. Stick around pal, I've still got a lot to teach you.")

But I'll discuss anything. (Disclaimer: the host reserves the right to end any discussion and hang up on you.)

So tune-in, call-in, but only if you can handle the truth!

WARNING: You may not want to call in if you have veritasphobia, especially if you are a certain veritasphobic politician.

Government Sachs

From the beginning I have said that the bailout of the financial institution was designed to save Goldman Sachs. "Former Goldman Sachs employees such as Henry Paulson and Robert Rubin have held high positions in the federal government, regardless of which party was in the White House." As a result, some call the company Government Sachs hereafter just GS.

Finally the conflict of interest became too much for even the Wall Street Journal to ignore. Stephen Friedman was chairman of the board of the Federal Reserve Bank of New York, but also sat on the Board of Directors of GS and had a large holding in GS stock. As a federal reserve official, Friedman helped GS receive speedy approval to become a bank holding company in September and a $10 billion capital injection soon after. Then in December and January he purchased more GS stock.

This is illegal. See 18 U.S.C. 208.

There should be some arrests.