Archive for the ‘Scotland’ Category

Obama Buys Into Anger, Fear as Political Tool

March 27, 2009

There is a clear message being sent of “we’ll get this, or else.”

Radicals protesting  the G20 summit transmit the message clearly.

Even President Barack Obama has gently used veiled threats and insinuations that he’ll go to any lengths to get what he wants.

“We won” flies in the face of bipartisanship and comity.

When Obama made his “outrage” remarks about the AIG bonuses, that was quickly followed up by Rep. Barney Frank asking for the names of all the AIG bonus recipients.

Then ACORN showed up to protest at the homes of some of those same AIG people.

Yesterday, two Washington Post reporters said the President of the United States is “attempting to harness public anger over the financial crisis” to pass his budget.

Once or twice, the president has lamely, limply, really, tried to mimic FDR’s “nothing to fear but fear itself” speech; but more often than not, “No Drama Obama” has hinted at other emotions beyond calm.
Obama is banking that his strong poll numbers will translate into the public trust and confidence he’ll need to reform, some say overhaul, and some say radically attack the financial system and Wall Street.

But pollster Frank Luntz and others say although the public approves of Obama himself, they reject some of his policies.

Public anger as a political tool?  That’s been used before but rarely by the president.

And the use of fear by the President of the United States at this time is disconcerting at the least.  Americans have plenty of fear and anger already: after losing jobs, retirement funds, and homes.

What American need is trust.  But at a time when trust in Wall Street, bankers and others is at low ebb, the president is talking about fear, crisis, catastrophe, anger and “outrage.”

Laughing on Leno and “60 Minutes” was a lame attempt to blind the facts.

My imagination running amok?  Hardly.  In Scotland, protesters attacked a bank executive’s home and inflicted thousands of dollars of damage.  In Paris the protesters rioted, setting tires on fire in the streets frequented by tourists.  Around the world, the economic crisis is turning from simmering outrage to a boil of fear and violence.

The G20 will be something to watch: not just because of the usually boring diplomatic and financial talk.  This time there are real issues and differences and the future of the American and world banking systems could surely hang in the outcome.

But added to that is an atmosphere of fear and even violence: and that is not a good way to do business.

Related:
Anger, Lawlessness Fueling U.S., Global Economic Revolution?

http://michellemalkin.com/2009/03/
27/the-coming-g20-riots-the-spread
-of-mob-rule/

Obama, Geithner, Summers Plan for “Toxic Assets” May be Toxic Itself

Obama’s public overexposure

Obama Still Thinks After Economy Recovers; Bank, Finance Good Times Can Return?

 Obama’s Economic “Rescue;” “The plan is very, very clever. Maybe too clever.”

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Anger, Lawlessness Fueling U.S., Global Economic Revolution?

March 26, 2009

Some might say, “The ends justify the means.”

Some might say the “anarchists” seen at global economic leadership conferences are now getting what they wanted; what they protested for.

Today two Washington Post reporters said the President of the United States is “attempting to harness public anger over the financial crisis” to pass his budget.

Obama Buys Into Anger, Fear as Political Tool

Are we setting the future course of the United States and the world based upon anger?  And if so, is that a good way to plan our future and the debt burden for our children and grandchildren?

And hasn’t the president himself fueled this anger expressing “outrage” at the AIG bonusus that were protected in his stimulus and known about for months by the Fed and Treasury (and Chris Dodd)?

So now the president wants to “bypass the traditional media and speak directly to the people?”  Why?  To fan and further fuel the anger?

Related:
Social Unrest: Hurt by Economy, Europeans Vent Their Anger

 President Tries To Harness Public Anger To Move His Budget

 ACORN Protesters At Homes of AIG Execs Similar To Lawlessness For UK Bank Exec?

Economy, “Foreign Forces” Trying to Destabilize Russia?

China fears recession riots

 Global Economy Weakness Leading To Social Unrest

Global Economy Sparks Protests; Governments Fear Greater “Social Unrest”

Obama: Press Conference Hints at Class Warfare

James Hill, New York Times

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French Worker Release Factory Head After Lay Off Threat

French workers released a manager of U.S. manufacturer 3M held hostage for two days in a labor dispute over layoffs, the company said Thursday, amid rising French unemployment and public outrage at employers.

AP

A new poll indicated that French worker frustration remains high, with a majority of respondents predicting more violent incidents in response to the economic crisis. The hostage-taking was one of many recent efforts by French workers to protest the downturn.

Workers at a 3M factory in Pithiviers locked manager Luc Rousselet in an office Tuesday, demanding better severance packages for those laid off and better conditions for those who keep their jobs.

After discussions Wednesday that ran into the night, Rousselet was released overnight, company spokeswoman Catherine Hamon said. Rousselet, unharmed, then left the factory grounds.

Read the rest:
http://news.yahoo.com/s/ap/2009032
6/ap_on_bi_ge/eu_france_labor_unrest_7

Please Visit Michelle Malkin:
http://michellemalkin.com/2009/03/
26/obamas-online-townhall-whats-r
eally-going-on/

ACORN Protesters At Homes of AIG Execs Similar To Lawlessness For UK Bank Exec?

March 25, 2009

Politics is one thing.  But sending people to protest at people’s homes seems an invitation to lawless behavior to many…

When ACORN funded protests at the homes of AIG executives last weekend, most of the mainstream media was silent.  Those that reported on the protests didn’t mention ACORN at all.

And certain congressmen fueled these protests: asking for the names and addresses of AIG workers.

For what purpose?

Paying protesters can only lead to trouble.  Sending protesters to private homes can only make homeowers and neighbors fearful which could mean the police get involved and confrontations occur.

We condemn such conduct: no matter how much we seem to think someone has wronged us; sending protesters to his house is out of bounds and invites trouble….

Related:
Did ACORN Organize Protests At Homes of AIG Execs?

 Protesters At Homes Of AIG Execs (Organized by ACORN?)

See Michelle Malkin:

http://michellemalkin.com/2009/0
3/25/the-rule-of-the-mob/

ACORN at the homes of AIG execs….

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The Times (UK)

An anti-capitalist vigilante group calling itself Bank Bosses Are Criminals has claimed responsibility for an attack on the home and car of Sir Fred Goodwin, the former chief executive of the Royal Bank of Scotland.

The ex-banker’s £3 million Edinburgh house was targeted in the early hours, with at least four ground-floor windows smashed and a black Mercedes vandalised. Police were called at around 4.15am to Morningside, a leafy suburb of the Scottish capital lined with substantial, stone-built homes.

A storm of controversy has engulfed Sir Fred over the £16.9 million pension he negotiated as he was made to leave RBS last October for his part in bringing the bank to its knees. The 50-year-old financier has already started to collect an annual pension of around £700,000, and refused invitations to hand it back..

Less than an hour after the attack, an e-mail was sent to local media outlets, signed by Moira McLeod, claiming responsibility and threatening further vigilante assaults. The e-mail account used to send the warning was named “Bank Bosses Are Criminals”.

Read the rest:
http://business.timesonline.co.uk/tol
/business/industry_sectors/bankin
g_and_finance/article5974253.ece

http://nicedeb.wordpress.com/2
009/03/21/acorn-aig-protest-fail/

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Pelosi’s Lawlessness

And then we have Nancy Pelosi, the third in line to the presidency, virtually telling illegal immigrants to violate the law: that the law is “Un-American.”

Well, here’s more “anything to win” — changing law by illegal acts and shenanigans.

If Nancy wants to make good law; she is in the catbird seat to do so.  The Speaker of the House knows how to make good law and how to defeat those that stand in her way too….

Pelosi made the stimulus bill and Obama has already offered her the health care revolution.  But she’s not satisfied yet: now she’ll rewrite immigration law by not picking up a pen: she’ll use the microphone.

Obama, Pelosi: Anything to Win

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When I wrote last week’s column, before the AIG fury erupted, I argued that we in Washington should dial back our rhetoric because public passions were already dangerously high — and we have so many hard decisions in probably hard times ahead of us that we need to face as a united people. Little did I expect that within hours of my writing those words, congressmen would be calling for the names and addresses of AIG employees to be made public — even though the congressmen had been told that the lives of the employees’ children had been threatened as a result of the uproar. Congressmen who would risk the lives of innocent children to save their own political skins are not likely to provide noble leadership in the months and years to come.

By Tony Blankley
http://www.rasmussenreports.com/public_conte
nt/political_commentary/commentary_by_ton
y_blankley/the_most_dangerous_city_in_the_world

http://lewlew.wordpress.com/200
9/03/25/a-big-stick-but-no-carrot/

U.S. In For More Global Anger Over $50 Billion Fraud

December 15, 2008

Big and small, he “took” them all. Bernard Madoff’s Ponzi scheme is another blow to America’s reputation, integrity….

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The list of investors who say they were duped in one of Wall Street‘s biggest Ponzi schemes is growing, snaring some of the world’s biggest banking institutions and hedge funds, the super rich and the famous, pensioners and charities.

The alleged victims who sunk cash into veteran Wall Street money manager Bernard Madoff’s investment pool include real estate magnate Mortimer Zuckerman, the foundation of Nobel laureate Elie Wiesel, and a charity of movie director Steven Spielberg, according to the Wall Street Journal.


Above: Steven Spielberg

By JOE BEL BRUNO and JANE WARDELL, AP Business Writers

Among the world’s biggest banking institutions, Britain’s HSBC Holdings PLC, Royal Bank of Scotland Group PLC and Man Group PLC, Spain’s Grupo Santander SA, France‘s BNP Paribas and Japan’s Nomura Holdings all reported that they had fallen victim to Madoff’s alleged $50 billion Ponzi scheme.

The 70-year-old Madoff (MAY-doff), well respected in the investment community after serving as chairman of the Nasdaq Stock Market, was arrested Thursday in what prosecutors say was a $50 billion scheme to defraud investors. Some investors claim they’ve been wiped out, while others are still likely to come forward.

“There were a lot of very sophisticated people who were duped, and that happens a great deal when you’ve had somebody decide to be unscrupulous,” said Harvey Pitt, a former chairman of the Securities and Exchange Commission, a regulator in charge of monitoring investment funds like the one Madoff operated.

Read the rest:
http://news.yahoo.com/s/ap/20081215/
ap_on_bi_ge/wall_street_arrest

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Some of the world’s biggest banks have revealed that they are victims of a fraud which has lost $50bn (£33bn).

Bernard Madoff has been charged with fraud in what is being described as one of the biggest-ever such cases.

Bernard Madoff in 1999 - AP Photo/The New York Times, Ruby Washington
Above: Mr Madoff is the former chairman of the Nasdaq stock exchange

Among the banks which have been affected are Britain’s RBS, Spain’s Santander and France’s BNP Paribas.

One of the City’s best-known fund managers has criticised US financial regulators for failing to detect the alleged fraud.
Nicola Horlick, boss of Bramdean investments, said US regulators had “fallen down on the job”.

Mrs Horlick told the BBC: “I think now it is very difficult for people to invest in things that are meant to be regulated in America, because they haven fallen down in the job.”

FROM THE TODAY PROGRAMME

“This is the biggest financial scandal, probably in the history of the markets – $50bn is a huge amount of money,” she said.

Banks and financial institutions across the world had investments with Bernard Madoff:

Read the rest from the BBC:
http://news.bbc.co.uk/2/hi/business/7783236.stm

Wall Street sign