Thursday, November 5, 2009

Big Dan's Big News Nov 5, 2009

Michigan woman dies after Medicaid dental care is cut

Alan Grayson reads the count of people dying in Republican districts, dead due to lack of health care:

A five-month investigation by McClatchy Newspapers has revealed that Goldman Sachs made secret bets against the housing market while simultaneously selling off billions in soon-to-be worthless securities. In 2006 and 2007, the bank reportedly peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in US housing prices would send the value of those securities plummeting. We speak to McClatchy reporter Greg Gordon.

Bush called the homeowners who are losing their homes: "Reckless Homeowners", remember? Well read this: whistleblowers at the lenders said they were appealing to their superiors to reject the shaky loans! So it wasn't the "reckless homeowners OR the government, it was the LENDERS!!! Then, the lenders knowingly packaged the risky mortgages they never should have given to people who shouldn't have qualified, into AAA rated bonds (they HID them) and sold them throughout the world...THEN BET that they would tank and made even MORE money THAT way, too!!! Why aren't these people in jail??? They caused the financial crisis!!!

AMY GOODMAN: Let’s turn to the issue of how Goldman Sachs stopped scrutinizing the loans it bought. This is a clip of a video report by Greg Gordon featuring two risk analysts contracted by Goldman.

GREG GORDON: Goldman and other Wall Street firms contracted with risk analysts, including Californians Irma Aninger and Melissa Toy, to review thousands of subprime mortgage files. Aninger said she was stunned as she saw from loan applications how much credit standards had deteriorated from 2004 through 2006.

IRMA ANINGER: A gardener making $10,000 a month, a checker at Wal-Mart making $5,000 a month. What else was there? Oh, they were ridiculous.

GREG GORDON: Aninger and Toy said they appealed to their superiors to reject shaky loans in which lenders had required no verification. (BD: I thought Bush, Republicans, and rightwingers said the lenders had their arms twisted by the government and the "reckless homeowners"!!!!!!)

MELISSA TOY: At times, I didn’t understand why we were even working, because they were overriding our decisions. Or if we question anything, if we tried to decline a loan, they were going beyond us and approving them.

IRMA ANINGER: The whole thing didn’t make any sense to me. That’s why I said earlier I didn’t even know why I was there, because the stuff was going to get pushed through anyway.

GREG GORDON: Yet, of all the Wall Street firms, Goldman was the only one that seemed to anticipate trouble ahead and safely exited the subprime market.

Low Road to High Finance: McClatchy Expose Reveals How Goldman Sachs Sold Off Billions in Mortgage Securities After Anticipating Housing Collapse

Goldman Sachs now taking away peoples' homes. The Beckers fight Wall St. bailed-out giant Goldman Sachs. They were fighting Goldman CEO Hank Paulson, who ironically became Bush's Treasury Secretary and started the taxpayer bailouts, of which Goldman Sachs made out like bandits.

RECKLESS HOMEOWNERS: THE BECKERS!!! Bush, Republicans, Rush Limbaugh and rightwinger media called people like the Beckers, "RECKLESS HOMEOWNERS".

Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds. Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers.

McClatchy: Goldman takes on new role: taking away people's homes

McClatchy: How Goldman secretly bet on the U.S. housing crash

Remember Bush said the "Reckless Homeowners" took advantage of the lenders? Look at the video above and see what really happened. Flashback: Big Dan's "Reckless Homeowners" series::

Bush Lays Into "Reckless Homeowners" Who Took Advantage of Lenders & Investors

Bush Addresses "Reckless Homeowners"...again...

Wait A Minute! I Thought Bush Said Americans Losing Their Homes To Foreclosure Were "RECKLESS HOMEOWNERS"!!!!!!!

Bush & Goldman Sach's Hank Paulson were working on a plan to help people not lose their homes (lol)...apparently they had knowledge at this time of Goldman Sachs' manipulations as described above. What ever happened to these plans? How come Goldman Sachs got bailed out, and not the homeowners? Bush's treasury secretary is on the right: Goldman Sachs' Hank Paulson. Obama is no better: his treasury secretary is (of course) Goldman Sachs' Tim Geithner. Question: do you have to be a Goldman Sachs CEO to be treasury secretary? There's a black guy on the left...NO, you're not seeing things!!! If the film was a "negative", Bush and Paulson would be black. btw...where is President Bush? He disappeared! Our most recent president disappeared? Why is that? We still see Carter and Clinton...but no more Bush! We see Dick and Liz Cheney, but no George Bush! Seriously, I have never in my life seen a president disappear like GW, and the most recent president, to boot. As you can clearly see from this video, the financial crisis and foreclosure crisis began under Bush, and Bush/Paulson/Bernanke started the bailouts...and there were no TeaBaggers or FOX "news" or Rush Limbaugh protesting it:

Afghan War Vets Patrol Halls Of Congress To Stop Troop Escalation

Daily Show outlook on the election results: "Polishing the Turd" - TV pundits spin losers into winners.

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