Financial Advisor Characteristics

Bush, McCain & other Republicans tried to warn the country. Democrats defended, blocked and suppresses with assistance from the media.

Obama (Co-counsel) Sued Citibank Under Community Reinvestment Act (ACORN) to Force it to Make Bad Loans

Case Name Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance
Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011
State/Territory Illinois
Case Summary
Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the ... read more >
Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages.

This case has received a good deal of press and blogger attention because one of the plaintiffs' lawyers was Barack Obama, then just a couple of years out of law school.



Franklin Raines & Jim Johnson both have in the past or are currently advising Obama.


John McCain warning about Fannie Mae
May 2006
http://sweetness-light.com/archive/behol ...

White House warns of GSE risks


Fannie, Freddie enjoy perception of backing, Mankiw says
By Matt Andrejczak, CBS.MarketWatch.com
EST Nov. 6, 2003
WASHINGTON (CBS.MW) - The notion that the U.S. government would bail out Fannie Mae and Freddie Mac if they ran into financial trouble "creates a source of systemic risk for our financial system," a top White House economic adviser warned Thursday.


Obama , Barack H.
City Chicago
State IL
Role(s) Attorney
Gender M
Case(s) FH-IL-0011 : Buycks-Roberson v. Citibank Fed. Sav. Bank
VR-IL-0042 : ACORN v. Edgar
Nope no viruses. A puny attempt to block the truth! Are you related to Barney Frank, in bed with Maxine Waters?
http://www.whitehouse.gov/news/releases/ 2008/09/20080919-15.html

I think that some on both sides shoulder some blame, but the FM/FM thing lands squarely on Pelosi and Franks. (Franks claimed they were fine) As for Raines, I am shocked that after all the "don't give these CEOS golden parachutes" from many, especially Obama, Obama makes Raines a campaign advisor. However, no one wants to look that closely at this. A clear flip flop from his statements, he handed him the parachute and suited him up. Funny thing is, a previous question on here keeps referring to the Republican controlled congress in the past two years which is untrue. It was Dem controlled. This is exactly why Nancy Pelosi stood up and scolded Bush with no foundation. It's called CYA. However, she didn't pick up enough cookie crumbs to keep from implicating herself. And....unfortunately, because many people are just intent on partisan bashing, no amount of solid proof means anything to them.

2008-12-01 05:35:31 by D W

What are the Characteristics to Look out for in a good financial advisor? To read the full article, please go to www.sgpersonalfinance.com

http://www.timesonline.co.uk/tol/news/wo rld/us_and_americas/article6907681.ece?t oken=null&offset=0&page=1 I'm doing 'God's work'. Meet Mr Goldman Sachs...a political force more powerful than governments. ...When they have finished getting "filthy rich by 40", as the company saying goes, these alpha dogs don’t put their feet up. They parachute into some of the most senior political posts in the US and beyond, prompting accusations that they "rule the world".

http://www.timesonline.co.uk/tol/news/wo rld/us_and_americas/article6907681.ece?t oken=null&offset=36&page=4
[Goldman Sachs CEO Blankfein] is, he says, just a banker "doing God’s work"

http://www.nytimes.com/2009/11/06/nyregi on/06flu.html?_r=1&scp=1&sq=offi cials%20defend&st=cse
New York City health officials have distributed small amounts of the swine flu vaccine to some major New York companies, including Wall Street banks like Goldman Sachs..., even as shortages continue. ...Goldman received 200 [doses] ...according to the New York City Department of Health and Mental Hygiene . . .Many hospitals and pediatrician’s offices are waiting to get their supplies.

Goldman Sachs Bribed Senate to Pass Bailout Bill (great 5 minute video)  *********
http://www.youtube.com/watch?v=Ek7zc0lJx bM

http://en.wikipedia.org/wiki/Goldman_Sac hs
...acts as a financial advisor and money manager for corporations, governments
, and wealthy families around the world. ...It is a primary dealer in the U.S. Treasury securities market
. . .. ...Former Goldman Sachs employees Robert Rubin and Henry Paulson served as United States Secretary of the Treasury after leaving the firm; Rubin under President Clinton and Paulson under George W. Bush. …........On December 4, 1928, it launched the Goldman Sachs Trading Corp. a closed-end fund with characteristics similar to that of a Ponzi scheme. .. The fund failed as a result of the Stock Market Crash of 1929 . . . . ...in 1999 ..18% was held by retired Goldman partners and two longtime investors, Sumitomo Bank Ltd.and......It also advised on a debt offering for the Government of China and the first electronic offering for the World Bank . . . .. . ..The firm is also heavily involved in energy trading, including the oil speculation market, on both a principal and agent basis. .. .In May 2006, Henry Paulson left the firm to serve as U.S. Treasury Secretary. . . Former Goldman employees have headed the New York Stock Exchange, the World Bank, the U.S. Treasury Department, the White House staff, and firms such as Citigroup and Merrill Lynch. ...Goldman also received $10 billion of capital from the U.S. government in October 2008, under the Troubled Asset Relief Program . . . .. ….In March 2009 it was reported that in 2008, Goldman Sachs, alongside other major US and international financial institutions, had received billions of dollars during the unwind of credit default swap contracts purchased from AIG, including $12.9bn from funds provided by the US Federal Reserve to bail out AIG. . . .Goldman was among ten large financial institutions that the Treasury allowed to pay back their TARP emergency capital infusions, though this was after the firm benefited from the FDIC'S Temporary Liquidity Guarantee Program when it issued $28 billion in debt to raise capital....As of 2006, Goldman Sachs employed 23,467 people worldwide. ...It was reported that the average total compensation per employee in 2006 was US$622,000. However, this number represents the arithmetic mean of total compensation and is highly skewed upwards as several hundred of the top earners command the majority of the Bonus Pools, leaving the median that most employees earn well below this number. ..The current Chief Executive Officer ... Lloyd C. ..Blankfein earned a $67.9 million bonus in his first year. ...In mergers and acquisitions, it gained fame historically by advising clients on how to avoid hostile takeovers, moves generally viewed as unfriendly to shareholders of targeted companies. Goldman Sachs, for a long time during the 1980s, was the only major investment bank with a strict policy against helping to initiate a hostile takeover, which increased Goldman's reputation immensely among sitting management teams at the time. ...Former Treasury Secretary Hank Paulson was a former CEO of Goldman Sachs. The current chief economic adviser to President Obama, Lawrence Summers, was noted for receiving $5.2 million from hedge fund D.E. Shaw
 
in 2008 and speaking fees (ranging from $45 thousand to $135 thousand per event) from banks including Goldman Sachs, JPMorgan Chase, Citigroup, Lehman Brothers and Merrill Lynchat a time when he was expected to become the most influential financial official in the U.S. Government.....the selection of former Goldman Sachs lobbyist Mark Patterson as chief of staff to Treasury Secretary ….Goldman Sachs was the largest single recipient of this money [the AIG Bailout] (USD 12.9B), . . .The relationship with, and bailout of AIG wa

Neither, just too well connected.

2009-11-17 20:24:49 by Ray Eston Smith Jr