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Should Terrorists Be Afforded the Rights of U.S. Citizens? Take You Poll

Posted by Gabrielle Cusumano on Thursday, January 07, 2010 6:18:51 PM
 
 
 Go To YouPoll at: http://www.youpolls.com/
Should Terrorists Be Afforded the Rights of U.S. Citizens?
Yes
No
 
 
 
  
 
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Terrorists Should Not Be Afforded the...
Added 2 days ago on January 5th, 2010
House Republican Whip Eric Cantor (R-VA) today issued the following statement in response to reports that the Obama...
 
 
Go to YouPoll   http://www.youpolls.com/
Should Geithner be fired for deceiving the American Tax Payer?
Yes
No
 
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Geithner's Fed Told AIG to Withhold Swaps...
Added 6 hours ago on January 7th, 2010
The Federal Reserve Bank of New York, then led by Timothy Geithner, told American International Group Inc. to... Read More

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Geithner's Dirty Secret: Five U.S. Banks hold 81% of the total net credit risk exposure in event of default.

Posted by Gabrielle Cusumano on Friday, April 03, 2009 11:45:54 AM
JPMorgan Chase holds a staggering $88 trillion in derivatives; Bank of America with $38 trillion, and Citibank with $32 trillion. Number four in the derivatives sweepstakes is Goldman Sachs, with a mere $30 trillion in derivatives; number five, the merged Wells Fargo-Wachovia Bank, drops dramatically in size to $5 trillion. Number six, Britain's HSBC Bank USA, has $3.7 trillion. "

Geithner's dirty little secret
By F William Engdahl   Excerpted from: http://www.atimes.com/atimes/Global_Economy/KD03Dj02.html
 
US Treasury Secretary Tim Geithner, in unveiling his long-awaited plan to put the US banking system back in order, has refused to tell the dirty little secret of the present financial crisis. By refusing to do so, he is trying to save de facto bankrupt US banks that threaten to bring the entire global system down in a new more devastating phase of wealth destruction.
 

The "dirty little secret" that Geithner is going to great degrees to obscure from the public is very simple. There are only at most perhaps five US banks that are the source of the toxic poison causing such dislocation in the world financial system. What Geithner is desperately trying to protect is that reality. The heart of the present problem, and the reason ordinary loan losses are not the problem as in prior bank crises, is a variety of exotic financial derivatives, most especially credit default swaps.

In the Bill Clinton administration of 2000, the Treasury secretary was Larry Summers, who had just been promoted from number two under former Goldman Sachs banker Robert Rubin to be number one when Rubin left Washington to take up the post of Citigroup vice chairman. As I describe in detail in my new book, Power of Money: The Rise and Fall of the American Century, to be released this summer, Summers convinced president Clinton to sign several Republican bills into law that opened the floodgates for banks to abuse their powers. The fact that the Wall Street big banks spent some US$5 billion in lobbying for these changes after 1998 was likely not lost on Clinton.

One significant law was the repeal of the 1933 Depression-era Glass-Steagall Act, which prohibited mergers of commercial banks, insurance companies and brokerage firms such as Merrill Lynch or Goldman Sachs. A second law backed by Treasury secretary Summers in 2000 was an obscure but deadly important Commodity Futures Modernization Act of 2000. That law prevented the responsible US government regulatory agency, Commodity Futures Trading Corporation (CFTC), from having any oversight over the trading of financial derivatives. The new CFMA law stipulated that so-called over-the-counter (OTC) derivatives like credit default swaps, such as those involved in the AIG insurance disaster, (and which investor Warren Buffett once called "weapons of mass financial destruction"), be free from government regulation.

At the time Summers was busy opening the floodgates of financial abuse for the Wall Street Money Trust, his assistant was none other than Tim Geithner, the man who today is US Treasury Secretary, while Geithner's old boss, the self-same Summers, is President Obama's chief economic adviser as head of the White House Economic Council. To have Geithner and Summers responsible for cleaning up the financial mess is tantamount to putting the proverbial fox in to guard the henhouse.

What Geithner does not want the public to understand, his "dirty little secret", is that the repeal of Glass-Steagall and the passage of the Commodity Futures Modernization Act in 2000 allowed the creation of a tiny handful of banks that would virtually monopolize key parts of the global "off-balance sheet" or OTC derivatives issuance.

Today, five US banks, according to data in the just-released Federal Office of Comptroller of the Currency's Quarterly Report on Bank Trading and Derivatives Activity, hold 96% of all US bank derivatives positions in terms of nominal values, and an eye-popping 81% of the total net credit risk exposure in event of default.

The top three are, in declining order of importance: JPMorgan Chase, which holds a staggering $88 trillion in derivatives; Bank of America with $38 trillion, and Citibank with $32 trillion. Number four in the derivatives sweepstakes is Goldman Sachs, with a mere $30 trillion in derivatives; number five, the merged Wells Fargo-Wachovia Bank, drops dramatically in size to $5 trillion. Number six, Britain's HSBC Bank USA, has $3.7 trillion.

After that the size of US bank exposure to these explosive off-balance-sheet unregulated derivative obligations falls off dramatically. Continuing to pour taxpayer money into these five banks without changing their operating system, is tantamount to treating an alcoholic with unlimited free booze.

The government bailout of AIG, at more than $180 billion so far, has primarily gone to pay off AIG's credit default swap obligations to counterparty gamblers Goldman Sachs, Citibank, JP Morgan Chase and Bank of America, the banks who believe they are "too big to fail". In effect, these institutions today believe they are so large that they can dictate the policy of the federal government. Some have called it a bankers' coup d'etat. It definitely is not healthy.

Geithner and Wall Street are desperately trying to hide this dirty little secret because it would focus voter attention on real solutions. The federal government has long had laws in place to deal with insolvent banks. The Federal Deposit Insurance Corporation (FDIC) places the bank into receivership, its assets and liabilities are sorted out by independent audit. The irresponsible management is purged, stockholders lose and the purged bank is eventually split into smaller units and when healthy, sold to the public. The power of the five mega banks to blackmail the entire nation would thereby be cut down to size. Ooohh. Uh Huh?

This is what Wall Street and Geithner are frantically trying to prevent. The problem is concentrated in these five large banks. The financial cancer must be isolated and contained by a federal agency in order for the host, the real economy, to return to healthy function. (continue lengthy article at link)Excerpted and more at Asian Times at: http://www.atimes.com/atimes/Global_Economy/KD03Dj02.html


Hedge fund pays Obama Advisor Larry Summers $5.2 Million in Compensation 

WASHINGTON, April 3 (Reuters) - Lawrence Summers, a top economic adviser to U.S. President Barack Obama, was paid about $5.2 million in compensation by hedge fund D.E. Shaw during the past year, according to financial disclosure forms released on Friday by the White House.

Officials from D.E. Shaw were not immediately available for comment. Summers, a former U.S. treasury secretary, was a part-time managing director of the firm after stepping down as president of Harvard University.

Summers was also paid hundreds of thousands of dollars in speaking fees from major Wall Street firms and financial institutions, including JP Morgan (JPM.N), Citigroup (C.N), Goldman Sachs (GS.N) and Lehman Brothers, the forms showed.

________________________________________________________________________________________________________
TOP TEN U.S. HEDGE FUND FIRMS** (JANUARY 2009)
Firm
AUM ($ billions)
Bridgewater Associates
$38.60
JPMorgan
$32.90
Paulson & Co.
$29.00
D. E. Shaw Group
$28.60
Och-Ziff Capital Management
$22.10
Soros Fund Management
$21.00
Goldman Sachs Asset Management
$20.60*
Farallon Capital Management
$20.00
Renaissance Technologies
$20.00
Barclays Global Investors
$17.00*
Source: Absolute Return
Unless noted otherwise, all asset figures are as of January 1, 2009.
* as of December 31
** the full Billion Dollar Club appears in Absolute Return’s March issue.
Press Release: TOP HEDGE FUND ASSETS DECLINE MORE THAN 32% IN 2008’S SECOND HALF
March 4, 2009
Page 3 of 3
How this survey differs from others
It’s a starting point:
The Absolute Return Billion Dollar Club is the only survey of hedge fund assets in the Americas
that bases its conclusions on a list of all firms known to posses $1 billion or more in hedge fund
assets. The Billion Dollar Club’s totals should necessarily be considered a baseline for the assets of
the U.S. hedge fund industry, as there are myriad firms that are not included in the list because
their assets do not reach the $1 billion threshold. HedgeFund Intelligence produces similar
surveys for Asia and Europe that are combined every six months into our Global Review, which
will be released shortly.
It contains fresh information:
The Billion Dollar Club, whenever possible, bases firm asset totals on January 1 data, which
includes the most recent redemptions and allocations, thereby making the survey more current
and accurate than those focusing on December 31 numbers. In instances where only December
31 data is available, it has been specifically noted in the survey.
About Absolute Return
Absolute Return is the leading source of U.S. hedge fund news and information, featuring
proprietary data and analysts on more than 2,600 U.S. single-manager hedge funds. Absolute
Return, a monthly magazine, and the Absolute Return Directory and Database are divisions of
HedgeFund Intelligence, the biggest provider of hedge fund news and data in the world with the
largest and most knowledgeable editorial and research teams of any hedge fund information
provider. We supply data on over 8,600 funds and comprehensive news and analysis from across
the globe. For more information, please visit www.hedgefundintelligence.com/ar.
##ENDS##
Notes:
About Absolute Return and HedgeFund Intelligence
For more information contact:
Media Contact:
Armel Leslie, Walek & Associates
212.590.0530, aleslie@walek.com
Carolyn Sargent
Deputy Editor, Absolute Return
212.224.3565, csargent@absolutereturn.net
File Format: PDF/Adobe Acrobat - View as HTML
Mar 4, 2009 ... state managing $96 billion. TOP TEN U.S. HEDGE FUND FIRMS** (JANUARY 2009). Firm. AUM ($ billions). Bridgewater Associates. $38.60. JPMorgan ...
www.hedgefundintelligence.com/images/590/.../Billion%20Dollar%20Hedge%20Fund%20Club%20-...

___________________________________________________________________________________________________________________________________________
Treasury Dept. on an unknown search (info via sitemeter.com)
Domain Name   treas.gov ? (U.S. Government)
IP Address   63.167.255.# (Sprint)
ISP   Sprint

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"See, I Told You So: There Will Be No Obama "Tax Cuts" for Anyone " Rush Limbaugh

Posted by Gabrielle Cusumano on Thursday, March 26, 2009 2:33:42 PM
Here are some links to transcripts of Rush Limbaugh's Show the last few days. It's like getting the inside story, better angle and perspective on the issues that are depressing Americans.
 
See, I Told You So: There Will Be No Obama "Tax Cuts" for Anyone
March 25, 2009

Listen To It! WMP | RealPlayer 

 
Comment: Thursday, March, 26, 2009 3:28 PM Donnie writes:

Of Course Not

Only massive tax increases are on the way,Democrats are in a spending orgy that is even frightening the rest of the world because they know they don't have the money they are spending.

 
Axelrod: White House Talent Can Keep Their Wall Street Bonuses
March 25, 2009
 
 
The Wife of an AIG Employee Begs America to Wake Up and See Truth
March 25, 2009
Listen To It! WMP | RealPlayer 
 

Story #1: John Galt Speaks in Resignation Letter to AIG   Excerpted from "Stack Of Stuff " Rush Limbaugh.Com at: http://www.rushlimbaugh.com/home/daily/site_032509/content/01125104.guest.html

RUSH: There's a great letter published as an op-ed today in the New York Times by an AIG employee. He's quitting.  He was earning one buck, just like the CEO, he was promised one of these retention bonuses, but he's not putting up with it anymore.  You could say that John Galt has spoken at AIG.  But there won't be any sympathy for this guy.  By the end of the week this guy is going to be trashed and destroyed because that's the modus operandi of the whole AIG thing.  The whole AIG business is nothing more than an act and a show, a fraudulent show to make an even larger power grab at more and more companies and eventually more and more people.  Now, this guy at AIG, it's his resignation letter to the CEO, Ed Liddy, and the New York Times published it, and some people, "Hey, Rush, hey, Rush, see what the New York Times did?"  Yeah, they published the guy's letter long after it's going to have any impact, long after it has any meaning on the cause, on the issue at hand. 

I guarantee you, with the drumbeat of class envy and hatred for the rich and Wall Street people, this guy's going to get no sympathy from the people who ought to be affected by it, the people who have already been ginned up into full hatred of AIG are just going to read this go, "Nah, nah, good. You only got a buck, that's what you deserve. Glad you're quitting, find out how the rest of us live."  That's going to be the reaction and that's exactly what this administration has ginned up. http://www.rushlimbaugh.com/home/daily/site_032509/content/01125104.guest.html

 
Listen Up, GOP: Daniel Hannan Takes It to Prime Minister Brown
March 25, 2009
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...the president screaming: "Tim (Geithner). You said WHAT?""

Posted by Gabrielle Cusumano on Wednesday, March 25, 2009 4:49:42 PM
"The dollar plunged after Mr Geithner said China's suggestion [for a reserve currency other than the dollar] 'deserves some consideration'."
 
Posted By: Adrian Michaels at Mar 25, 2009 at 19:47:32 Excerpted from: http://blogs.telegraph.co.uk/adrian_michaels/blog/2009/03/25/obama_makes_a_call_to_his_treasury_chief_you_said_what 
Investors are taking their cues from the amateurs they put in the White House. The relationship between Barack Obama and Tim Geithner, his Treasury secretary, is looking increasingly frayed. For the second time this month, the president and his economic team have contradicted each other. Confidence in markets is everything. See if you can spot how uninspiring this is:

Tuesday March 24. At a press conference Barack Obama responds to a question about how "senior Chinese officials have publicly expressed an interest in [an] international currency". The questioner is asking if we have enough confidence in the dollar for it to continue as the preferred currency of choice in which to hold the world's reserves. An alternative is an amalgam of the euro, yen, pound and dollar administered by the International Monetary Fund.

Obama responds: "I don't believe that there's a need for a global currency."

Wednesday March 25. From the New York Times: "The dollar plunged earlier in the morning after Mr Geithner, in response to another question, said China's suggestion [for a reserve currency other than the dollar] 'deserves some consideration'."

Later, the Treasury secretary, after watching the dollar tumble, said that the currency would remain the world's dominant reserve currency for some time to come,  a move the New York Times charitably said was "clarifying earlier remarks".

What is missing from this account is the telephone call that took place between Geithner's two statements. The censored version at least would involve the president screaming: "Tim. You said WHAT?"  More of article at the Telegraph UK  at: http://blogs.telegraph.co.uk/adrian_michaels/blog/2009/03/25/obama_makes_a_call_to_his_treasury_chief_you_said_what  2nd Article on Geithner's remarks on IMF currency below 


European Union presidency head says Obama plan 'will undermine the stability of the global market'    More at Fox News at: http://www.foxnews.com/world/index.html
 
"It's sad that we have to read the British papers to find out what's going on in our own country. The British press gets it but our American press is still covering for this bunch of amateurs.   Sandy    March 25, 2009
 
Mad scramble by Dep.Altman and Obama to button Geithner's lip as the currency market nosedived..what a way to head to the G20. China must be laughing out loud at Obama pissing on his own parade. strangerinbluesuedes    March 25, 2009
 
 
Dollar drops as Geithner sees greater role for IMF currency

Read more: "Dollar drops as Geithner sees greater role for IMF currency" -  Excerpted http://www.monstersandcritics.com/news/business/news/article_1466845.php/Dollar_drops_as_Geithner_sees_greater_role_for_IMF_currency_#ixzz0AnpnDySS
Washington - US Treasury Secretary Timothy Geithner sent the US currency tumbling Wednesday by saying he was open to enlarging the International Monetary Fund's currency reserves, but rallied again as he clarified the dollar will remain 'the world's dominant reserve currency.'

His comments at the Council on Foreign Relations in New York were in response to China's suggestion that a new global currency reserve replace the dollar in order to guard against fluctuations in economic crises.

China's central bank head on Tuesday proposed a 'gradual increase' in the IMF's special drawing rights - a currency unit weighted against a basket of global currencies - and eventually replacing the dollar as the world's global reserve currency.

After rejecting the idea on Tuesday, Geithner told the council the United States was 'actually quite open' to increasing the IMF's special drawing rights.

The dollar dropped 0.7 per cent against the euro in response, but rallied again after Geithner clarified his remarks at the same conference about 30 minutes later.  (Lengthy article,  read more: "Dollar drops as Geithner sees greater role for IMF currency" - http://www.monstersandcritics.com/news/business/news/article_1466845.php/Dollar_drops_as_Geithner_sees_greater_role_for_IMF_currency_#ixzz0AnpAF8Ul

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Dodd's Wife a Former Director of Bermuda-Based IPC Holdings, an AIG Controlled Company

Posted by Gabrielle Cusumano on Monday, March 23, 2009 4:56:03 PM
Clegg was compensated for her duties to the company, which was managed by a subsidiary of AIG.

Dodd's Wife a Former Director of Bermuda-Based IPC Holdings, an AIG Controlled Company

By Kevin Rennie   Excerpted from: http://www.realclearpolitics.com/articles/2009/03/dodds_wife_a_former_director_o.html 

No wonder Senator Christopher Dodd (D-Conn) went wobbly last week when asked about his February amendment ratifying hundreds of millions of dollars in bonuses to executives at insurance giant AIG. Dodd has been one of the company's favorite recipients of campaign contributions. But it turns out that Senator Dodd's wife has also benefited from past connections to AIG as well.

From 2001-2004, Jackie Clegg Dodd served as an "outside" director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG. IPC, which provides property casualty catastrophe insurance coverage, was formed in 1993 and currently has a market cap of $1.4 billion and trades on the NASDAQ under the ticker symbol IPCR. In 2001, in addition to a public offering of 15 million shares of stock that raised $380 million, IPC raised more than $109 million through a simultaneous private placement sale of 5.6 million shares of stock to AIG - giving AIG a 20% stake in IPC. (AIG sold its 13.397 million shares in IPC in August, 2006.)

Clegg was compensated for her duties to the company, which was managed by a subsidiary of AIG. In 2003, according to a proxy statement, Clegg received $12,000 per year and an additional $1,000 for each Directors' and committee meeting she attended. Clegg served on the Audit and Investment committees during her final year on the board.

IPC paid millions each year to other AIG-related companies for administrative and other services. (More at: Real Clear Politics at: http://www.realclearpolitics.com/articles/2009/03/dodds_wife_a_former_director_o.html )

Tax fears fuel Bermudian migration to Switzerland
Michael Bradford

AWAC sets up new office and Endurance expands in Europe

 

Insurance companies do not like to identify tax as a reason for being based anywhere, but experts say that Switzerland is attracting interest from Bermuda, partly because it has a well-established tax treaty with the United States. The treaty exempts Swiss-based companies that reinsure U.S.-based risks from paying a federal excise tax on gross premiums. There is no such treaty between Bermuda and the United States.

Also, tax issues are being debated during the U.S. presidential campaign and some fear that if the Democrats win the election, they will make changes that could make it less attractive to underwrite U.S. risks in Bermuda. "Companies are worried about a possible change in tax rules by the U.S. directed at Bermuda," John Berger, president and chief executive officer of Pembroke, Bermuda-based reinsurer Harbor Point Limited, told Business Insurance Europe during the Reinsurance Rendez-Vous in Monte Carlo.

The tax environment in Switzerland is more stable than in Bermuda, although taxes are a little higher in the European country, said John Andre, group vice president, property and casualty, at Oldwick, New Jersey-based A.M. Best Co. Inc. Insurers are exercising good governance by looking at alternatives should Bermuda's tax status change, he said during the meeting in Monte Carlo.

Clare Himmer, senior vice-president, international treaty reinsurance with Allied World in Bermuda, told BIE, however, that tax issues did not influence the company's plans to open an office in Switzerland.

No tax link

"The establishment of a Swiss office is not related to the potential changing of tax laws," Ms. Himmer said in an e-mail. "The office in Switzerland is being built with a team of experienced staff to enable us to continue to grow our treaty business in Europe, with a focus on Continental European business. It also makes geographic sense as it's a central location to service the rest of mainland Europe."

Allied World is not discouraged by the lingering soft reinsurance market in Europe, Ms. Himmer said. "Despite the current rate environment, we believe that we can achieve profitable growth in the short term," she said.   Excerpted from: http://www.businessinsurance.com/cgi-bin/article.pl?article_id=25933
 
More Developing Connections Later...
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Ridiculous Obama Compares Big Banks And AIG To Suicide Bombers

Posted by Gabrielle Cusumano on Thursday, March 19, 2009 2:00:59 PM
"Here's the problem," Mr. Obama said, "It's almost like they've got -- they've got a bomb strapped to them and they've got their hand on the trigger.  You don't want them to blow up.  But you've got to kind of talk them, ease that finger off the trigger."   Obama    (ABC News article below)
__________________________________________________________________________________________________________________________________________
Mr. President, Do the employees and the families of the "Big Banks and AIG" deserve execution by piano wire wrapped around their necks while 9/11 Admitted Guilt Terrrorists of 3,000 lives made carnage deserve better?
__________________________________________________________________________________________________________________________________________
 
In reference to the above article "chuck the tv out" had this comment along with the photo:
 
OFFENSIVE S.O.B.

THESE PEOPLE ARE SICK IN THE HEAD.



I CANNOT SAY HOW MUCH THESE CREEPS SICKEN ME.
If we had any republican party at all, this would be news for the next 2 weeks.
Comment 13 posted on Thursday, March 19, 2009 12:37:45 PM by chuck the tv out  at: http://www.freerepublic.com/focus/f-news/2209989/posts
 

President Obama Compares Big Banks, AIG, to Suicide Bombers

March 18, 2009 10:46 PM Jake Tapper and Sunlen MillerAt his town hall meeting in Costa Mesa, Calif., Wednesday evening, President Obama compared embattled insurer AIG and other large failing banks to a suicide bomber. ''A lot of people say, 'Well, why not just let the banks fail?''' (Snip) ''Here's the problem,'' Mr. Obama said, ''It's almost like they've got -- they've got a bomb strapped to them and they've got their hand on the trigger. You don't want them to blow up. But ...

Then there is the little matter of Bill Ayers
 
Self Proclaimed 70s Terrorist Bomber Ayers: Obama was 'family friend'
Ayers describes Barack Obama as 'family friend' in new afterword to 2001 book, From the Chicago Sun Times, November 13, 2008:
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Finance Crapola: Citi's Parsons Plays Ball With Obama, And AIG's Liddy Didn't.

Posted by Gabrielle Cusumano on Tuesday, March 17, 2009 4:37:03 PM
"Citi having a bumper top line is nothing to get excited about. " Tyler Durden
Citi stock has gone from a dollar to a buck forty in a few days. The VP-leaked memo is just part of this war to save the bank. Remember, the US gov't has already agreed to back stop $306B of their bad assets." Venn Data in "Comments"

Financial Times Debunks Citi's Memo by: Tyler Durden March 11, 2009 http://seekingalpha.com/article/125338-financial-times-debunks-citi-s-memo

  Good read on the purposefully leaked Citi (C) memo today from Financial Times. The Brits make a good point about Citi's so called bumper revenues, which a) are not bumper at all based on historical standards and b) are to be expected as increased revenues always accompany volatile markets, especially in f/x and cash equities. The main thing Citi did not provide info on is the impact of writedowns, which one can bet their bottom dollar will be large to quite large.

Citi having a bumper top line is nothing to get excited about. That “profitable” remains unquantified gives no comfort as to what extent writedowns have eaten into that haul. Provided the global economy keeps deteriorating, and house prices sink lower, balance sheets may fail even harsh stress-tests. It remains a brave investor who believes that this time bank revenues can overwhelm the writedown bogeymen.

The FT also has a beef with two other concepts brought up in the letter: that depositors and investors are, contrary to fact, not fleeing in droves, and that Citi has a strong capital position. Of course, the $81 bn in TCE only materializes assuming the government extracts its pounds of flesh, which would not have been necessary if the asset side of the business wasn't an ice cube next to a flamethrower.

Another question is how much of this blockbuster revenue was due to the Smith Barney brokerage? Citi was forced to sell half of this unit about a month ago, and thus any associated revenues have to be chopped in half for a true pro forma representation, else Citi is double counting the income statement and balance sheet benefits.

As more impairments have to be taken, higher and higher trances of the capital structure will likely become equitization candidates and thus sources of incremental stock dilution. Lastly, to assume that BofA  and Wells Fargo are immune from C's cancer, is as naive as rampant stock purchasing based on a 1 page letter of unsubstantiated propaganda.    (Continue at: http://seekingalpha.com/article/125338-financial-times-debunks-citi-s-memo )

 Citi memo

Published: March 10 2009 14:10 | Last updated: March 10 2009 14:10

If management e-mails actually “communicated” anything they would be banned. Risks of a leak means workers are subjected to anodyne words on how valued they are or that their company is uniquely positioned to cope with the challenges ahead. On Tuesday, however, a short memo from chief executive Vikram Pandit to staff at Citigroup set the entire US banking sector alight. Having dropped below a dollar last week, Citi’s share price rallied 35 per cent. What did the memo say? Three nuggets in particular seemed to dazzle investors. First that Citi was profitable in January and February and the quarter was looking the rosiest since the third quarter of 2007. Apparently, Citi made $19bn in revenues in the first two months of the year. Second, Mr Pandit calmed fears that depositors as well as clients were fleeing in their droves. Finally, the memo stressed Citi’s strong capital position.

But investors should not lose their heads. The headline-grabbing revenue number, of course, does not include costs or writedowns. Besides, Citi exceeded $20bn in adjusted revenues for eight quarters up until the end of September. Even in the nightmare final quarter of last year, revenues excluding writedowns were still a respectable $13.4bn.

So Citi having a bumper top line is nothing to get excited about. That “profitable” remains unquantified gives no comfort as to what extent writedowns have eaten into that haul. That is the problem. In volatile markets, flow businesses such as foreign exchange or cash equities will always do well. And all banks are benefiting from short-rates being close to zero. But provided the global economy keeps deteriorating, and house prices sink lower, balance sheets may fail even harsh stress-tests. It remains a brave investor who believes that this time bank revenues can overwhelm the writedown bogeymen

 
Citi shakes up board to try and quiet Congressional critics

Citi also, as expected, announced several new independent directors to its board.  http://money.cnn.com/2009/03/16/news/newsmakers/citi.pandit.fortune/index.htm

In addition to Grundhofer, the bank nominated three other candidates -- former Bank of Hawaii (BOH) chief Michael O'Neill, onetime Federal Reserve Bank of Philadelphia President Anthony Santomero and ex-Pimco executive William Thompson.

The move comes as the bank's newly appointed chairman, Dick Parsons, seeks to recast Citi in a form more palatable to regulators and legislators. Taxpayers could own as much as 36% of Citi following the latest restructuring of the government's bailout of the bank, which was announced Feb. 27.
 
Parsons took over as chairman earlier this year for investment banker Win Bischoff. He promised to "reconstitute" the board at Citi, which has been sharply criticized in Congress for its poor supervision of management and its compensation excesses.

Among the directors departing Citi recently have been Robert Rubin, the former Goldman Sachs executive and Clinton administration Treasury Secretary.

Rubin made more than $100 million over a decade as the bank's chairman and senior counselor but declined responsibility for the bubble-era missteps of Pandit's predecessor, former CEO Chuck Prince.       (continue at: http://money.cnn.com/2009/03/16/news/newsmakers/citi.pandit.fortune/index.htm )

Citi's Pandit hits paydirt

The taxpayer-backed bank says its CEO made $10.8 million last year. Citi also announces a shakeup to its board.

Colin Barr, senior writer
March 16, 2009: 12:46 PM ET   http://money.cnn.com/2009/03/16/news/newsmakers/citi.pandit.fortune/index.htmNEW YORK (Fortune) --Citigroup, which has received hundreds of billions of dollars in federal aid, disclosed Monday that CEO Vikram Pandit received 2008 compensation valued at $10.8 million.The bank also announced changes to its board and nominated four new independent directors, including former U.S. Bancorp (USB, Fortune 500) chief Jerry Grundhofer.

New York-based Citi, like many other banks that have received taxpayer funding, has come under fire for its spending on executive compensation and other perks.

But since Citi (C, Fortune 500) took its first round of exceptional federal aid last November, the bank has been trying to show it's being more responsible. Pandit said late last year he plans to take just $1 a year in salary until the bank returns to profitability.

Still, the bank disclosed in a regulatory filing Monday that Pandit received $958,333 in salary last year, up from the $250,000 he received in 2007. Pandit did not receive a cash bonus, however.

The lion's share of Pandit's overall compensation comes from the 1 million restricted shares and 3 million stock options Citi granted Pandit on Jan. 22, 2008, as a signing bonus and special retention award following his December 2007 appointment as CEO.

Pandit joined Citi in July 2007,   (continued at: http://money.cnn.com/2009/03/16/news/newsmakers/citi.pandit.fortune/index.htm

 
Politico

Citi's Parsons attends W.H. meeting
By: Jonathan Martin
February 23, 2009 05:57 PM EST http://www.politico.com/news/stories/0209/19204.html
The incoming chairman of Citigroup, Richard Parsons, showed up at the White House Monday, fueling talk that the federal government might take a massive ownership stake in the troubled banking behemoth.

Parsons’ appointment was to see Valerie Jarrett, one of President Barack Obama’s closest West Wing confidants.

Parsons got through the main gate a little before 6 p.m. A White House official confirmed the meeting but declined to offer details.

"He was here to meet with Valerie - something she often does with business leaders," said the official.

News of Parsons' White House visit started a buzz among financial services executives in Washington, where several said Monday night that they expected an announcement of a Citigroup deal as early as Tuesday. One executive told POLITICO that the White House is telling industry players that the Parsons visit is "a friendly meeting."

The federal government is reportedly in talks to take as much as a 40 percent ownership stake in Citigroup, whose stock price has been battered by speculation that the government might seek to “nationalize” major banks to stabilize the financial services sector.

White House Press Secretary Robert Gibbs on Monday reiterated Obama’s belief in the importance of a privately held banking system – even as the Treasury Department signaled that it’s open to the kind of deal reportedly being discussed by Citi. A unusual joint statement by the Treasury Department, Federal Reserve and other regulators Monday also signaled the government’s willingness to do what’s needed to keep the nation’s banking system operating efficiently...(more at: http://www.politico.com/news/stories/0209/19204.html )
 
 
*The New York Post is reporting that Richard Parsons, former Time Warner head and new chairman of Citigroup, wisely decided to take Amtrak to Washington when he and other Wall Street moguls were summoned to a meeting Wednesday with President Obama. Citigroup, which was bailed out with $45 billion in taxpayer money, just canceled the purchase of the latest jet for its fleet, a $50 million Dassault Falcon. Parsons showed he's much savvier than the heads of the Big Three automakers, who all flew private when they came to Washington for a bailout. http://www.eurweb.com/story/eur50504.cfm

Parsons takes over as Citi chairman

The former Time Warner CEO has the unenviable task of trying to fix the troubled financial titan.

By Colin Barr, senior writer
Last Updated: January 21, 2009: 5:47 PM ET  http://money.cnn.com/2009/01/21/news/newsmakers/citi.parson.fortune/

NEW YORK (Fortune) -- Citigroup, the struggling financial titan that recently announced plans to split in two, is shaking up its board again.

The New York-based company named Richard Parsons its chairman.

Parsons, who was chairman and CEO of Time Warner (TWX, Fortune 500) earlier this decade, after its troubled merger with AOL, and until recently was Citi's (C, Fortune 500) lead director, will succeed Sir Win Bischoff. Parsons was also previously CEO of the New York-based thrift Dime Bancorp. (Time Warner is the parent company of CNNMoney.com and Fortune.)

The news comes just days after Citi, which has received some $350 billion in federal capital and loan guarantees over the past six months, announced a $8.3 billion fourth-quarter loss and set plans to separate its core banking business from some risky assets and other operations.

According to news reports, regulators have been pressing Citi to shake up its board in the wake of billions of dollars of losses over the past 18 months.

"I look forward to continuing to work with the board and management of Citi in my new capacity as we continue to strengthen the company's core franchise and build value for our shareholders," Parsons said in a statement released after the market closed Wednesday.

The shakeup gives CEO Vikram Pandit a new partner atop Citi, whose stock has come under renewed pressure this week as investors worry about the bank's exposure to rising credit costs and the prospect of yet another round of federal aid.

Even after a 31% rally Wednesday, Citi's market capitalization is just $20 billion - a mere fraction of the value the institution held only a year ago.

"With his proven record of turning around Dime Bancorp and Time Warner, as well as his work with a wide range of government regulators, Dick is ...(Continue at: http://money.cnn.com/2009/01/21/news/newsmakers/citi.parson.fortune/ )
 
AIG GAME PLAYING   (Notice the Dates) 


Why AIG Wasn't Allowed to Fail

AIG's Blackmail Note   

AIG'S BLACKMAIL NOTE  http://seekingalpha.com/article/126213-aig-s-blackmail-note

In case anyone's wondering what leverage AIG has over the government that lets it pay people bonuses for creating the largest losses in U.S. corporate history, here you are:

Aig Systemic 090309

 
 

 
 
 
Also
 
AIG signs $85-bn deal with Fed

Posted online: Sep 25, 2008 at 2335 hrs

New York, Sep 24American International Group Inc said late on Tuesday it signed a˜definitive agreement for up to $85 billion in borrowings from the US Federal Reserve, the main part of a rescue by the central bank that will see it take a 79.9% stake in the giant insurer.

AIG Chief Executive Edward Liddy said in a statement the facility was the company's best alternative in the current market environment. Under the terms of the agreement, AIG has to pay back the loan from, among other things, asset sales and new debt or share issues. In the statement, AIG made it clear how onerous the terms of the two-year loan will be. Not only will it pay 8.50 percentage points over 3-month LIBOR, putting the current rate at well over 11% , but it will also pay commitment fees.

There will be an initial gross commitment of 2 % of the total loan facility, and subsequently a fee on undrawn amounts of 8.5 % a year. The interest and the fees will be added to the balance outstanding, the company said.

"We are pleased to have finalized the terms of the facility, and are already developing a plan to sell assets, repay the facility and emerge as a smaller but profitable company," Liddy said in the statement.  (continue from this excerpt at:  http://www.financialexpress.com/news/AIG-signs-85bn-deal-with-Fed/365462/ )

 Feds bolster AIG with $30B more
By: Lisa Lerer
March 3, 2009 04:31 AM EST  http://dyn.politico.com/printstory.cfm?uuid=C9C17A06-18FE-70B2-A8123896ED2CB98D

The Obama administration defended its decision to rescue mega-insurer American International Group on Monday, arguing that the bailout was a necessary dose of monetary medicine to prevent a deeper economic downturn.

But Wall Street saw symptoms of a spreading illness.

Stocks plunged across the globe Monday, while the Dow dropped below 7,000 for the first time since 1997, closing at 6,763.29, down 299.64 points, or 4.2 percent. The slide reflected growing concerns about the depth of the crisis, as AIG reported a fourth-quarter loss of $61.7 billion the largest quarterly loss for a company.

It's a pretty strong reminder that the U.S. Treasury is still all that stands between the current market environment and future systemic financial problems, said Christopher Garman, head of the financial analysis firm Garman Research.

As the market tanked, the Obama administration explained the necessity of pouring as much as $30 billion in new bailout cash into AIG on top of $150 billion in direct aid and loans that the Treasury Department and Federal Reserve have extended to the company since September.

The Treasury Department and others felt that the systemic risk of doing nothing was simply unacceptable, said White House press secretary Robert Gibbs.Today's actions further continue allowing the process of the orderly restructuring of AIG.

AIG executives insisted that the steps were necessary to help the company's restructuring.

AIG is executing one of the most extensive corporate restructuring programs in history at a time when the global economy and capital markets are in turmoil, the company's CEO, Edward Liddy, said in a press release. While we have made meaningful progress, we have concluded, along with Treasury and the Federal Reserve, that additional tools are needed to enable success.

The AIG deal comes just days after the Treasury Department bumped its stake in Citigroup to 36 percent, up from 8 percent, by taking more common stock. In that deal, the government didn't add more bailout money.

Recent polls highlight the political risk for the administration in another bailout. Fifty-four percent of Americans prefer stopping government rescues instead of giving additional funds to homeÂowners, or banks and auto companies, according to a February survey by Rasmussen Reports

But some analysts say companies such as AIG and Citigroup have such huge operations so closely intertwined with the world's economy that the U.S. government and President Barack Obama have little choice but to help them.

In AIG's case, government regulators and Wall Street analysts believe the global financial system could not withstand the sudden collapse of the company, which underwrote many of the risky subprime mortgage investments by financial firms. AIG provides insurance to more than 30 million policyholders and 100,000 different entities, including small businesses, cities, pension plans and Fortune 500 companies.

If AIG fell, analysts assert, it could cause a domino effect across the financial system. Banks, financial firms and other AIG trading partners would have to write down the value of their securities a loss some fear could make those companies insolvent, as well.

The new infusion of government cash and a decision by the government to lower the interest rate on an earlier $60 billion loan should allow AIG to avoid ratings downgrades that would have forced it to pay more than $7 billion in collateral to trading partners, according to a November SEC filing by (continued at: http://dyn.politico.com/printstory.cfm?uuid=C9C17A06-18FE-70B2-A8123896ED2CB98D

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Obama & Dems Outraged? "Before the Fall, AIG Payouts Went to Washington" Open Secrets.Org

Posted by Gabrielle Cusumano on Monday, March 16, 2009 3:26:46 PM
"Barack Obama, Chris Dodd,  Max Baucus, and John McCain, were largest recipients." Center for Responsive Politics

Before the Fall, AIG Payouts Went To Washington  by Massie Ritsch   (Can't copy article here but it is a must read with Congress members names and AIG contributions over the years) http://www.opensecrets.org/news/2009/03/before-the-fall-aig-payouts-we.html  
 
Twenty-eight current members of Congress reported owning stock in AIG last year, worth between $2.5 million and $3.3 million.
 
 
Name Total Contributions all cycles
Dodd, Chris (D-Conn) $280,238
Bush, George W (R-Texas) $200,560
Schumer, Charles E (D-NY) $111,875
Obama, Barack (D-Ill) $107,332
McCain, John (R-Ariz) $99,249
Baucus, Max (D-Mont) $90,000
Kerry, John (D-Mass) $85,000
Johnson, Nancy L (R-Conn) $75,400
Sununu, John E (R-NH) $69,049
Clinton, Hillary (D-NY) $59,515
Lieberman, Joe (I-Conn) $57,900
Rangel, Charles B (D-NY) $53,582
Giuliani, Rudolph W (R-NY) $50,250
Lazio, Rick A (R-NY) $48,600
Ensign, John (R-Nev) $44,569
Bayh, Evan (D-Ind) $43,700
Larson, John B (D-Conn) $43,000
Biden, Joseph R Jr (D-Del) $41,350
Baker, Richard (R-La) $41,032
Torricelli, Robert G (D-NJ) $39,000
D'Amato, Alfonse M (R-NY) $38,750
Carper, Tom (D-Del) $37,213
Bush, George (R-Texas) $34,000
Roth, William V Jr (R-Del) $33,400
Lowey, Nita M (D-NY) $31,800
Smith, Bob (R-NH) $31,750
Shelby, Richard C (R-Ala) $31,250
Reed, Jack (D-RI) $30,600
Castle, Michael N (R-Del) $29,350
Ackerman, Gary (D-NY) $27,750
Grassley, Chuck (R-Iowa) $27,750
Specter, Arlen (R-Pa) $27,450
Gephardt, Richard A (D-Mo) $27,250
Hagel, Chuck (R-Neb) $27,250
Clinton, Bill (D-Ark) $27,000
Foley, Mark (R-Fla) $26,650
Nadler, Jerrold (D-NY) $26,000
Murkowski, Frank H (R-Alaska) $25,700
Zimmer, Dick (R-NJ) $25,397
Crapo, Mike (R-Idaho) $24,500
Kyl, Jon (R-Ariz) $24,400
Dole, Bob (R-Kan) $24,250
Nelson, Ben (D-Neb) $23,200
Molinari, Susan (R-NY) $21,650
Collins, Susan M (R-Maine) $21,542
Dunn, Jennifer (R-Wash) $21,250
Romney, Mitt (R-Mass) $20,850
Bond, Christopher S 'Kit' (R-Mo) $20,750
Farrell, Diane Goss (D-Conn) $20,550
Zeliff, Bill (R-NH) $20,427
Pomeroy, Earl (D-ND) $20,270
Paxon, Bill (R-NY) $20,150
Reynolds, Tom (R-NY) $19,750
Maloney, Carolyn B (D-NY) $19,200
Kolbe, Jim (R-Ariz) $18,550
Crowley, Joseph (D-NY) $18,500
Chafee, Lincoln D (R-RI) $18,150
Berman, Howard L (D-Calif) $18,000
Bennett, Robert F (R-Utah) $17,700
Bowles, Erskine B (D-NC) $17,600
Frist, Bill (R-Tenn) $17,300
Menendez, Robert (D-NJ) $17,000
Hastert, Dennis (R-Ill) $16,549
Gore, Al (D-Tenn) $15,750
Swett, Dick (D-NH) $15,500
Nelson, Bill (D-Fla) $15,412
Frost, Martin (D-Texas) $15,250
Jeffords, James M (R-Vt) $15,250
Corker, Bob (R-Tenn) $15,150
Davis, Tom (R-Va) $15,000
Chafee, John H (R-RI) $14,757
Perlmutter, Edwin G (D-Colo) $14,650
Gregg, Judd (R-NH) $14,500
Portman, Rob (R-Ohio) $14,300
Durbin, Dick (D-Ill) $14,000
Matsui, Robert T (D-Calif) $14,000
Israel, Steve (D-NY) $13,950
Burton, Dan (R-Ind) $13,650
Coverdell, Paul (R-Ga) $13,600
Abraham, Spencer (R-Mich) $13,500
Kennedy, Edward M (D-Mass) $13,500
Murkowski, Lisa (R-Alaska) $13,500
Andrews, Michael Allen (D-Texas) $13,400
McConnell, Mitch (R-Ky) $13,200
Cornyn, John (R-Texas) $13,000
Moynihan, Daniel Patrick (D-NY) $13,000
Faircloth, Lauch (R-NC) $12,875
Fowler, Wyche Jr (D-Ga) $12,760
Chocola, Chris (R-Ind) $12,500
Houghton, Amo (R-NY) $12,500
Kanjorski, Paul E (D-Pa) $12,500
White, Rick (R-Wash) $12,490
King, Pete (R-NY) $12,343
Feinstein, Dianne (D-Calif) $12,250
Grams, Rod (R-Minn) $12,150
Conrad, Kent (D-ND) $12,000
Frisa, Daniel (R-NY) $11,825
Daschle, Tom (D-SD) $11,700
Rockefeller, Jay (D-WVa) $11,500
Weiner, Anthony D (D-NY) $11,500
METHODOLOGY: The numbers on this page are based on contributions from PACs and individuals giving $200 or more. All donations were made during the A election cycle and were released by the Federal Election Commission. Figures for the current election cycle are based on data released on February 09, 2009.

Feel free to distribute or cite this material, but please credit the Center for Responsive Politics. http://www.opensecrets.org/orgs/recips.php?id=D000000123&type=P&state=&sort=A&cycle=A
 
 
 
 
 
 
 
 
 
 
 
 
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Wall Street Fattened The Candiates Coffers While The "Middle Class "Joe" Gets Screwed

Posted by Gabrielle Cusumano on Saturday, October 18, 2008 1:39:43 PM
Wall Street Fattened The Candiates Coffers  (See Goldman Sach and Obama) While The "Middle Class "Joe" Gets Screwed.
The "Rich" will get richer, the poor will get more welfare and the "Middle class will get screwed with more taxes and tax credits. 
Also see: Obama Should Blame His $313,025 Contributor Lehman Brothers for Wall Street Crisis, US Financial Meltdown! By Gabrielle Cusumano at 1:33 PM on 10/17/2008

Goldman Sach's Donations to Obama

458 records
Total for this search: $536,603
Candidate Contributor Employer Date Amount
Obama, Barack IVY, STEPHANIE M
MARINA DEL RAY,CA 90292		 GOLDMAN SACHS/INVESTMENT MANAGEMENT 1/14/08 $5,600
Obama, Barack APPELT, GARTH
NEW CANAAN,CT 06840		 GOLDMAN SACHS/BANKER 3/29/07 $4,600
Obama, Barack GRAYSON, MATTHEW
NEW YORK,NY 10025		 GOLDMAN SACHS/ANALYST 8/13/08 $4,600
Obama, Barack KENNEDY, TOM
NEW YORK,NY 10010		 GOLDMAN SACHS/OPERATIONS ASSOCIATE 9/13/07 $4,600
Obama, Barack KIMBALL, RICHARD A
NEW YORK,NY 10021		 GOLDMAN SACHS/INVESTMENT BANKING 4/30/08 $4,600
Obama, Barack KRISHNA, PREETHI
NEW YORK,NY 10021		 GOLDMAN SACHS/BANKER 5/22/07 $4,600
Obama, Barack SHAH, DEVESH
NEW YORK,NY 10023		 GOLDMAN SACHS/BANKER 1/22/08 $4,600
Obama, Barack WOODRUFF, TIFFANY A
MENLO PARK,CA 94025		 GOLDMAN SACHS/INVESTMENT BANKER 1/29/08 $4,600
Obama, Barack LOGGINS, RICHARD
SAN FRANCISCO,CA 94115		 GOLDMAN SACHS/SALES 12/6/07 $3,000
Obama, Barack WILLIAMS, TODD ALLEN
DALLAS,TX 75209		 GOLDMAN SACHS & CO./INVESTMENT BANK 5/14/07 $2,500
Obama, Barack AGNE, MARK
TOKYO,ZZ 10800		 GOLDMAN SACHS/MANAGING DIRECTOR 2/11/08 $2,300
Obama, Barack AKS, RICHARD
SCARSDALE,NY 10583		 GOLDMAN SACHS/INVESTMENT BANKER 4/10/08 $2,300
Obama, Barack Ali, Reza
New York,NY 10065		 Goldman Sachs 8/20/08 $2,300
Obama, Barack APPELT, GARTH
NEW CANAAN,CT 06840		 GOLDMAN SACHS/BANKER 3/29/07 $2,300
Obama, Barack ASALI, OMAR
NEW YORK,NY 10069		 GOLDMAN SACHS/MANAGING DIRECTOR 2/14/08 $2,300
Obama, Barack BACKER, DEAN C MR
NEW YORK,NY 10003		 GOLDMAN SACHS/EXEC 3/30/07 $2,300
Obama, Barack BACKER, DEAN C MR
NEW YORK,NY 10003		 GOLDMAN SACHS/EXEC 3/30/07 $2,300
Obama, Barack BENCHOFF, NANCY
WENHAM,MA 01984		 GOLDMAN SACHS/BANKING 12/6/07 $2,300
Obama, Barack BENFORD, TRACEY
CHICAGO,IL 60614		 GOLDMAN SACHS/INVESTMENT BANKING 5/8/07 $2,300
Obama, Barack BIDDLE, LESLIE D
NEW YORK,NY 10022		 GOLDMAN SACHS/FINANCIAL 2/29/08 $2,300
Obama, Barack Biddle, Leslie D
New York,NY 10022		 Goldman Sachs 7/31/08 $2,300
Obama, Barack BUTCHER, GEORGE H III
NEW ROCHELLE,NY 10804		 GOLDMAN SACHS/MANAGING DIRECTOR 3/31/08 $2,300
Obama, Barack CAMPBELL, SCOTT
BULLARD,TX 75757		 GOLDMAN SACHS/EQUITIES 1/31/08 $2,300
Obama, Barack CARROLL, MARK
CHICAGO,IL 60614		 GOLDMAN SACHS 5/21/07 $2,300
Obama, Barack CHANG, YOUNG K
NEW YORK,NY 10010		 GOLDMAN SACHS/ASSOCIATE 6/16/08 $2,300
Obama, Barack COHN, GARY D
NEW YORK,NY 10021		 GOLDMAN SACHS/COO 9/18/07 $2,300
Obama, Barack CORTINA, RANIERO
KENILWORTH,IL 60043		 GOLDMAN SACHS 5/10/07 $2,300
Obama, Barack COULSON, DAVID
NEW YORK,NY 10024		 GOLDMAN SACHS/INVESTMENT BANKER 2/22/08 $2,300
Obama, Barack CRAIGHEAD, TIMOTHY
SHORT HILLS,NJ 07078		 GOLDMAN SACHS/INVESTMENT RESEARCH 5/24/07 $2,300
Obama, Barack CURRIE, JEFFREY
NEW YORK,NY 10004		 GOLDMAN SACHS/MANAGING DIRECTOR 4/17/08 $2,300
Obama, Barack DAFFEY, MICHAEL
NEW YORK,NY 10004		 GOLDMAN SACHS/FINANCE 3/31/07 $2,300
Obama, Barack DEHNERT, MARK
NEW YORK,NY 10012		 GOLDMAN SACHS/EXECUTIVE 3/31/07 $2,300
Obama, Barack DOTY, JANA HALE
RYE,NY 10580		 GOLDMAN SACHS & CO/EQUITIES TRADER/ 5/8/07 $2,300
Obama, Barack DWECK, MICHAEL L
SCARSDALE,NY 10583		 GOLDMAN SACHS/FINANCE 5/24/07 $2,300
Obama, Barack FAGGIOLI, NATHANIEL
SAN FRANCISCO,CA 94123		 GOLDMAN SACHS/INVESTMENT BANKER 3/24/08 $2,300
Obama, Barack FELDMAN, STEVEN
GARDEN CITY,NY 11530		 GOLDMAN SACH/EXECUTIVE 5/22/07 $2,300
Obama, Barack FERRARO, JOSEPH
CHICAGO,IL 60614		 GOLDMAN SACHS/INVESTMENT MANAGEMENT 5/7/07 $2,300
Obama, Barack FISHER, ANDREW
PORTOLA VALLEY,CA 94028		 GOLDMAN SACHS/INVESTMENT BANKER 2/19/08 $2,300
Obama, Barack FLYNN, TIMOTHY
NEW YORK,NY 10004		 GOLDMAN SACHS/INVESTMENT BANKER 5/23/08 $2,300
Obama, Barack GAGLIOTI, ENRICO S
RIDGEWOOD,NJ 07450		 GOLDMAN SACHS & CO/INVESTMENT BANKE 3/31/07 $2,300
Obama, Barack GILBERTSON, H JOHN
LAKE FOREST,IL 60045		 GOLDMAN SACHS/BANKER 3/20/07 $2,300
Obama, Barack GILBERTSON, H JOHN
LAKE FOREST,IL 60045		 GOLDMAN SACHS/BANKER 3/8/07 $2,300
Obama, Barack GILBERTSON, H JOHN
LAKE FOREST,IL 60045		 GOLDMAN SACHS/BANKER 3/8/07 $2,300
Obama, Barack GMELICH, JUSTIN
RUMSON,NJ 07760		 GOLDMAN SACHS/FINANCE 3/31/07 $2,300
Obama, Barack GONSALVES, GREGG
NEW YORK,NY 10004		 GOLDMAN SACHS & CO/BANKER 5/24/07 $2,300
Obama, Barack Gonsalves, Gregg A
Montclair,NJ 07042		 Goldman Sachs & Co 8/31/08 $2,300
Obama, Barack GRAYSON, MATTHEW
NEW YORK,NY 10025		 GOLDMAN SACHS/ANALYST 8/13/08 $2,300
Obama, Barack HALL, FRANZ A
MONTCLAIR,NJ 07042		 GOLDMAN SACHS/TECHNOLOGY MGR 5/29/07 $2,300
Obama, Barack HATZIUS, JAN
NEW YORK,NY 10024		 GOLDMAN SACHS/ECONOMIST 12/31/07 $2,300
Obama, Barack HATZIUS, JAN
NEW YORK,NY 10024		 GOLDMAN SACHS/ECONOMIST 12/31/07 $2,300
1 2 3 4 5 6 7 8 9 10Next            1st page is at :  http://www.opensecrets.org/pres08/search.php?cid=N00009638&name=%28all%29&employ=Goldman+Sach&state=%28all%29&zip=%28any+zip%29&submit=OK&amt=a&sort=A
 
Goldman Sach's Donations to McCain
 

154 records found in 0.746 seconds.
Total for this search: $193,320

Candidate Contributor Employer Date Amount
McCain, John BOMMARITO, ALISON MASS MRS
NEW YORK,NY 10021		 GOLDMAN SACHS/INVESTMENT BANKER 4/23/07 $4,600
McCain, John COLE, CHRISTOPHER A MR
HOPEWELL,NJ 08525		 GOLDMAN SACHS/INVESTMENT BANKER 6/29/07 $4,600
McCain, John TUFT, THOMAS E MR
NEW YORK,NY 10023		 GOLDMAN SACHS & CO/INVESTMENT BANKE 8/12/08 $4,600
McCain, John YOUNG, PAUL DR
NEW YORK,NY 10004		 GOLDMAN SACHS/BANKER 1/9/08 $4,600
McCain, John BARBI, LESLIE MRS
NEW YORK,NY 10128		 GOLDMAN SACHS/PORTFOLIO MANAGER 6/5/08 $2,300
McCain, John BERLINSKI, MILTON R MR
NEW YORK,NY 10128		 GOLDMAN SACHS/EXECUTIVE 3/9/07 $2,300
McCain, John BERNARD, PAUL D MR
HONG KONG,ZZ 99999		 GOLDMAN SACHS/FINANCE 5/23/08 $2,300
McCain, John BERNARD, PAUL D MR
HONG KONG,ZZ 99999		 GOLDMAN SACHS/FINANCE 5/30/07 $2,300
McCain, John BLONDEL, JOHN D MR JR
NEW YORK,NY 10021		 GOLDMAN SACHS/INVESTMENT MANAGEMENT 4/12/07 $2,300
McCain, John CARHART, MARK MR
NEW YORK,NY 10024		 GOLDMAN SACHS/PORTFOLIO MANAGER 4/19/08 $2,300
McCain, John COX, JASON MR
WALLKILL,NY 12589		 GOLDMAN SACHS/BANKER 1/30/08 $2,300
McCain, John DANIELLO, JOHN MR
NEW YORK,NY 10023		 GOLDMAN SACHS/INVESTMENT BANKING 2/12/08 $2,300
McCain, John DEFOOR, BRADLEY S MR
SAN FRANCISCO,CA 94115		 GOLDMAN SACHS & COMPANY/INVESTMENT 5/6/08 $2,300
McCain, John DONOVAN, JAMES H MR
UPPERVILLE,VA 20184		 GOLDMAN SACHS & COMPANY 6/30/08 $2,300
McCain, John DONOVAN, JAMES H MR
UPPERVILLE,VA 20184		 GOLDMAN SACHS & COMPANY 6/30/08 $2,300
McCain, John FIFE, EUGENE V MR
CHARLOTTESVILLE,VA 22902		 GOLDMAN SACHS 6/30/08 $2,300
McCain, John FORST, EDWARD C MR
BRONXVILLE,NY 10708		 GOLDMAN SACHS/CHIEF ADMINISTRATIVE 3/27/07 $2,300
McCain, John JUSTICZ, MAX MR
GREENWICH,CT 06830		 GOLDMAN SACHS/INVESTMENT BANKING 4/18/08 $2,300
McCain, John KENNEDY, KEVIN W MR
NEW YORK,NY 10023		 GOLDMAN SACHS/INVESTMENT BANKER 7/6/07 $2,300
McCain, John LAUDIEN, LORI E MS
NEW YORK,NY 10282		 GOLDMAN SACHS/EXECUTIVE 2/20/07 $2,300
McCain, John LEE, JAMES BAINBRIDGE MR III
NEW YORK,NY 10005		 GOLDMAN SACHS/INVESTMENT BANKER 5/1/07 $2,300
McCain, John MAAS, JASON MR
MENLO PARK,CA 94026		 GOLDMAN SACHS 6/30/08 $2,300
McCain, John MCCABE, JOHN J MR
WATCHUNG,NJ 07069		 GOLDMAN SACHS/SALES 4/9/08 $2,300
McCain, John MILLETTE, MICHAEL MR
NEW ROCHELLE,NY 10804		 GOLDMAN SACHS/INVESTMENT BANKING 3/10/08 $2,300
McCain, John MONTAG, THOMAS K MR
NEW YORK,NY 10004		 GOLDMAN SACHS/INVESTMENT BANKER 7/5/07 $2,300
McCain, John MORENZ, SHEA
HOUSTON,TX 77002		 GOLDMAN SACHS/BANKER 4/17/08 $2,300
McCain, John MORENZ, SHEA MR
HOUSTON,TX 77002		 GOLDMAN SACHS 6/30/08 $2,300
McCain, John PASQUARIELLO, ANTHONY WILLIAM MR
NEW YORK,NY 10013		 GOLDMAN SACHS 4/30/08 $2,300
McCain, John PASQUARIELLO, ANTHONY WILLIAM MR
NEW YORK,NY 10013		 GOLDMAN SACHS/FINANCE 3/11/08 $2,300
McCain, John POWELL, DINA H
NY,NY 10128		 GOLDMAN SACHS/MANAGING DIRECTOR 8/31/08 $2,300
McCain, John ROGERS, JOHN FW MR
WASHINGTON,DC 20016		 GOLDMAN SACHS/EXECUTIVE 2/20/07 $2,300
McCain, John RYDBERG, PAUL MR
SAN MATEO,CA 94401		 GOLDMAN SACHS 5/31/08 $2,300
McCain, John SATTER, MUNEER A MR
CHICAGO,IL 60606		 GOLDMAN SACHS/VICE PRESIDENT 2/26/08 $2,300
McCain, John SATTER, MUNEER A MR
CHICAGO,IL 60606		 GOLDMAN SACHS/VICE PRESIDENT 2/27/08 $2,300
McCain, John SATTER, MUNEER A MR
CHICAGO,IL 60606		 GOLDMAN SACHS/VICE PRESIDENT 5/23/08 $2,300
McCain, John SCHWARTZ, HARVEY M MR
NEW YORK,NY 10021		 GOLDMAN SACHS/M.D. 7/6/07 $2,300
McCain, John SKLAR, BARRY MR
BERGENFIELD,NJ 07621		 GOLDMAN SACHS 8/29/08 $2,300
McCain, John SKLAR, BARRY MR
BERGENFIELD,NJ 07621		 GOLDMAN SACHS 8/29/08 $2,300
McCain, John SOLOMON, DAVID M MR
NEW YORK,NY 10023		 GOLDMAN SACHS & COMPANY/BANKING 1/24/08 $2,300
McCain, John STOLL, ADAM MR
OYSTER BAY,NY 11771		 GOLDMAN SACHS/INVESTMENT BANKER 3/18/08 $2,300
McCain, John SYKES, GENE T MR
LOS ANGELES,CA 90049		 GOLDMAN SACHS/INVESTMENT BANKER 4/26/07 $2,300
McCain, John THARNSTROM, CHARLES MR
PACIFIC PALISADES,CA 90272		 GOLDMAN SACHS/INVESTMENT ADVISOR 5/22/07 $2,300
McCain, John THARNSTROM, CHARLES MR
PACIFIC PALISADES,CA 90272		 GOLDMAN SACHS/INVESTMENT ADVISOR 3/28/07 $2,300
McCain, John THARNSTROM, CHARLES MR
PACIFIC PALISADES,CA 90272		 GOLDMAN SACHS/INVESTMENT ADVISOR 7/19/07 $2,300
McCain, John TROTT, BYRON D MR
CHICAGO,IL 60606		 GOLDMAN SACHS/MANAGING DIRECTOR 4/12/07 $2,300
McCain, John TUFT, THOMAS E MR
NEW YORK,NY 10004		 GOLDMAN SACHS/INVESTMENT BANKER 3/9/07 $2,300
McCain, John WEINBERG, JOHN S MR
NEW YORK,NY 10004		 GOLDMAN SACHS/INVESTMENT BANKER 7/13/07 $2,300
McCain, John WILSON, KENDRICK R MR III
BEDFORD,NY 10506		 GOLDMAN SACHS/MANAGING PARTNER 3/30/07 $2,300
McCain, John WINKELRIED, JON MR
SHORT HILLS,NJ 07078		 GOLDMAN SACHS & COMPANY 7/9/08 $2,300
McCain, John YOUNG, PAUL DR
NEW YORK,NY 10004		 GOLDMAN SACHS 5/19/08 $2,300
1 2 3 4Next   1st Page is at: http://www.opensecrets.org/pres08/search.php?cid=N00006424&name=%28all%29&employ=Goldman+Sach&state=%28all%29&zip=%28any+zip%29&submit=OK&amt=a&sort=A
 
 
From AIG
Obama:
156 records found in 0.045 seconds.
Total for this search: $88,099   http://www.opensecrets.org/pres08/search.php?cid=N00009638&name=%28all%29&employ=AIG&state=%28all%29&zip=%28any+zip%29&submit=OK&amt=a&sort=A
 
McCain:
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For Posterity, AIG Laughing Baby Videos Here

Posted by Gabrielle Cusumano on Thursday, September 18, 2008 10:23:36 PM
Need a good laugh about right now?  Laugh along with the AIG babies!
 
Just before the bad AIG news broke I had the priviledge of seeing the "laughter adds 8+ years to your life" AIG Laughing Baby Commercials. They were delightful and truly made me laugh easily and happily. Haven't seen them air since and hope they aren't lost to the universe forever.
 
I'm putting their video links here for posterity...laugh along with the baby, it will make you feel wonderful, really!
 
 
 
 
AIG Laughing Baby Jack Commercial
 
AIG Laughing Baby Jack Commercial
00:31 From: kklein22
Views: 203,262
 
 

YouTube - AIG Laughing Baby Ethan Commercial

Laughing can add 8 years to your life. So live longer, retire ...
31 sec -

Rated 4.9 out of 5.0


www.youtube.com/watch?v=wXIfU-87TZo
 
Again
AIG Laughing Baby Bust-a-Gut Commercial
 
AIG Laughing Baby Bust-a-Gut Commercial
00:31 From: kklein22
Views: 106,992
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Insurance: Top Contributors to Candidates (AIG) "Who's Going To Pay?"

Posted by Gabrielle Cusumano on Tuesday, September 16, 2008 11:30:08 AM
See AIG among  "Insurance: Top Contributors to Federal Candidates and Parties"
Election cycle: Total contributions: $31,173,252
Rank Organization Amount Dems Repubs Source
Indivs
PACs
Soft $
1 AFLAC Inc $1,483,750 50% 50%
2 New York Life Insurance $1,290,559 58% 42%
3 Blue Cross/Blue Shield $1,109,191 54% 46%
4 Natl Assn/Insurance & Financial Advisors $895,450 47% 53%
5 Independent Insurance Agents of America $856,500 40% 60%
6 MetLife Inc $765,379 60% 40%
7 Liberty Mutual Insurance $704,019 49% 51%
8 USAA $657,618 38% 62%
9 Massachusetts Mutual Life Insurance $582,480 57% 43%
10 Genworth Financial $556,783 50% 50%
11 American International Group $498,742 64% 35%
12 Zurich Financial Services $492,624 29% 71%
13 American Financial Group $483,550 5% 95%
14 Council of Insurance Agents & Brokers $426,619 34% 66%
15 Hartford Financial Services $425,997 57% 43%
16 American Council of Life Insurers $424,139 53% 47%
17 Property Casualty Insurers Assn/America $412,950 40% 60%
18 Prudential Financial $403,466 64% 36%
19 Travelers Companies $384,350 47% 53%
20 National Assn of Health Underwriters $380,250 30% 70%

METHODOLOGY: The numbers on this page are based on contributions from PACs, soft money donors, and individuals giving $200 or more. (Only those groups giving $5,000 or more are listed here. Soft money applies only to cycles 1992-2002.) In many cases, the organizations themselves did not donate; rather the money came from the organization's PAC, its individual members or employees or owners, and those individuals' immediate families. Organization totals include subsidiaries and affiliates. All donations took place during the 2007-2008 election cycle and were released by the Federal Election Commission on Monday, July 28, 2008.

Feel free to distribute or cite this material, but please credit the Center for Responsive Politics. For permission to reprint for commercial uses, such as textbooks, contact the Center.
 

Top 20 Recipients

Rank Candidate Office Amount
1 McCain, John (R) Senate $1,312,155
2 Clinton, Hillary (D-NY) Senate $1,262,409
3 Obama, Barack (D) Senate $1,147,886
4 Giuliani, Rudolph W (R) $887,750
5 Dodd, Christopher J (D-CT) Senate $829,106
6 Romney, Mitt (R) $815,904
7 McConnell, Mitch (R-KY) Senate $324,033
8 Rangel, Charles B (D-NY) House $314,365
9 Richardson, Bill (D) $268,959
10 Baucus, Max (D-MT) Senate $241,400
11 Kanjorski, Paul E (D-PA) House $233,798
12 Coleman, Norm (R-MN) Senate $221,299
13 Pomeroy, Earl (D-ND) House $216,800
14 Cornyn, John (R-TX) Senate $216,194
15 Sununu, John E (R-NH) Senate $215,199
16 Bean, Melissa (D-IL) House $209,108
17 Collins, Susan M (R-ME) Senate $177,800
18 Cantor, Eric (R-VA) House $174,450
19 Thompson, Fred (R) $166,142
20 Reed, Jack (D-RI) Senate $163,350
 
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