Oct 18, 2013

{Reprint} Mitt Romney Has Federal Reserve & Federal Government Connections... He May Have Been Gifted Billions (He Won't Release His Taxes)


"As close to a blank check as you can get without asking for a blank check"...

(see 1 minute 30 seconds into video: Paulson requires no oversight or accountability is dispensing billions - which turned out to be trillions - of dollars to ANYONE they wanted i.e. close friends/buddies/those-with-Washington-Connections)...

Best part is that the 700 billion, no questions asked, TARP bailout was just the tip of the iceberg as the Federal Reserve (again playing God with the US economy) gave out an additional 16 trillion to their close buddies(se video blelow). Notice that the Federal Reserve is a private bank and thus has no oversight. They can do whatever they want to the economy and NEVER have to face elections for this actions, i.e. no consequences! If you have access to a money printing machine and couldn't get in trouble no matter what you did, would you print yourself up some cash? If you could give this money away with no consequences would you give some to your friends? It's just paper, after all! 

Fed Audited: 16 Trillion Loaned to Banks (from the last audit led by Senator Bernie Sanders)...
The Federal Reserve gave 16 trillion dollars in loans to some of the largest financial institutions and corporations in the world revealed by the first top-to-bottom audit of the Fed. Today the dollar fell against the Swiss Franc showing a flight to quality and safety might be a flight away from the US dollar. And the economy is still shedding jobs as thousands of fresh layoffs at companies from Blackberry to Cisco are announced.


VIDEO: In 2002 Mitt Romney touted D.C. connections, ability to get millions of taxpayer dollars from federal gov’t
Back in March, ABC reported the following, but it’s likely that fewer people were paying attention, so, it’s time to revive the story:
In a long-forgotten tape from the 2002 Massachusetts governor’s race obtained by ABC News, Mitt Romney is seen touting his Washington connections and his ability to get millions of taxpayer dollars from the federal government.
“I am big believer in getting money where the money is,” Romney says on the video, “The money is in Washington.”
Gasp! What a commie socialist!
Just one more example of his blatant hypocrisy.

Alternate Video Site - FROM ABC:
In a long-forgotten tape from the 2002 Massachusetts governor’s race obtained by ABC News, Mitt Romney is seen touting his Washington connections and his ability to get millions of taxpayer dollars from the federal government.
“I am big believer in getting money where the money is,” Romney says on the video, “The money is in Washington.”

The Financial Crisis Inquiry Commission-Team...
3 mins and 30 secs - Says 'we didn't realize housing doesn't go up forever' yet the excuse for the derivatives housing nonsense (triple AAA rated toxic assets) is 'this is the normal financial crises that occurs every 5-7 years'.

More reporting on the history and corruption of the financial crisis...
(Note: Mitt Romney is connected to the culprits of the financial crisis, even bragged about it in 2002 - i.e. see above)
Notice how the corporations in the above video see their clients i.e. a clear "contradiction of interest"! ( It's like being nice to your neighbors while secretly plotting to steal thier property and/or rob thier house)

Above Interview is of the authors of the book: All The Devils Are Here

Moments of Zen?

Note: The Supreme Court ruled that restrictions on money that can flow to help/promote political campaigns is against the first amendment (i.e. money has free speech rights /first amendment protection)
The above statement made many people angry, including Stephen Colbert...

So the following are definitions and comparative examples to better understand what a corporation is supposed to be...

What is a Corporation? Basic dictionary definition:

1 a : a group of merchants or traders united in a trade guild b : the municipal authorities of a town or city 2 : a body formed and authorized by law to act as a single person although constituted by one or more persons and legally endowed with various rights and duties including the capacity of succession 3 : an association of employers and employees in a basic industry or of members of a profession organized as an organ of political representation in a corporative state

Basic economic/business definition:
A legal entity that is separate and distinct from its owners. Corporations enjoy most of the rights and responsibilities that an individual possesses; that is, a corporation has the right to enter into contracts, loan and borrow money, sue and be sued, hire employees, own assets and pay taxes. The most important aspect of a corporation is limited liability. That is, shareholders have the right to participate in the profits, through dividends and/or the appreciation of stock, but are not held personally liable for the company's debts. Corporations are often called "C Corporations".

This is what Corporations have become...

Compare and Contrast: Context to understand some of the strange rules Corporations are allowed (more than an average person/family for sure)...

In other words, besides free speech rights for corporate money, there are ways for corporations to get out of paying taxes and a whole bunch of other nonsense that seems to be just part of the reason for the present financial chaos.

Compare and Contrast - Case Study:
A Shell Corporation: Switching fundraising approach by creating a company (approx 4 mins into video) - this new company is called a 501 (c)4 - Allows donations from unknown donors , notice the dramatic increase in donations! (the example used is Karl Rove's Super Pac and a new one he created to shield it);

To compete with Karl Rove, Stephen creates his own Shell Corporation (this approach allows corporate donations in secrecy as their shareholders or customers may object to their practices)...

The following video is the amusing result of the above two videos...

Useful Information About Modern Corporations...
Documentary website Watch full the documentary in 23 parts here.

Where did Romney get all his wealth? It can't be from honorable means if he refuses to show more than 2 years of taxes... especially when he was bragging about how much money he could get from Washington in 2002 (see above).

From Salon:
Mitt’s many mansions
Reporters need to start asking Romney about the crisis we face in our housing markets
Housing is a topic that Mitt should know something about. After all, his father, George, served as the nation’s housing secretary during the Nixon administration. And Mitt currently owns three homes, according to Zillow.
  • In 1989, Romney bought a seven-bedroom, 6.5-bath home in upscale Belmont, a Boston suburb. The 6,434 square foot house is situated on 2.44 acres. With his kids grown, Romney sold the house in 2009 for $3.5 million — 293 percent more than the purchase price of $890,000 twenty years earlier. (This is the kind of job-creating entrepreneurship that — along with inheriting his father’s fortune — made Romney a rich man). The following year Romney — the former Massachusetts governor who needed a local address in order to run for president — bought a two-bedroom, 2,100 square foot townhouse in Belmont for $895,000.
  • Romney’s weekend vacation estate, which sits on Lake Winnipesaukee in Wolfeboro, N.H., includes a three-story, six-bedroom, 5,400 square foot main house, plus an additional guest house, that are worth an estimated $10 million.
  • Three years ago, however — like many other American families — the Romneys had to say goodbye to one of their houses. That was the seven-bedroom, 9.5 bath 9,514 square foot house, located on 11 acres, that they owned in Park City, Utah. The Romneys bought it as a vacation home in 1999 and lived there while he was working as CEO of the 2002 Winter Olympics in Salt Lake City. They sold the house in 2009 for a little under the $5.25 million asking price, according to Zillow.

Two of Mitt’s current homes — the lakefront compound in New Hampshire and the beachfront mansion in La Jolla — sit on the water. So surely Mitt can sympathize with the millions of Americans whose homes are “under water,” worth less than their mortgages because of the dramatic decline of housing values. Then there are the millions more who have lost their homes to foreclosure.
Wall Street’s reckless behavior crashed the economy. In the past six years, housing prices nationwide have fallen by a third. Families have lost nearly $7 trillion of home equity. About 15 million homeowners owe $700 billion more on their mortgages than their homes are worth. Millions of middle-class families have watched their major source of wealth stripped away, their neighborhoods decimated and their future economic security destroyed.
What’s Mitt’s response? In an interview last October with the  Las Vegas Review-Journal , based in a state where foreclosures have reached epidemic levels, Mitt said: “Don’t try to stop the foreclosure process. Let it run its course and hit the bottom.” Then he suggested: “Allow investors to buy homes, put renters in them, fix the homes up and let it turn around and come back up.”
Shortly after this interview, Mitt further displayed his faith in the free market at a round table discussion at a hotel in Tampa, Florida, another state where housing prices have plummeted and has been hit hard by foreclosures. Candice Tammey told Romney her situation, a plight familiar to millions of American families.
She lost her job and asked her bank to negotiate a loan modification so she could keep paying her mortgage. The bank refused, so Tammey, out of options, stopped paying her mortgage and faced being foreclosed.
“It will get better,” Romney told her, according to CNN’s online video stream of the event. “It will not always be like this.”
Taking the side of the bank industry lobby, Romney also wants to dismantle the Dodd-Frank law, and the Consumer Financial Protection Agency, which strengthened protections for consumers, including homeowners, against predatory and abusive corporate lenders.
Across the country, millions of “under water” voters — Democrats and Independents and even some Republicans — are desperate. This is particularly true in many key swing states — including Florida, Nevada, Michigan, Pennsylvania, Virginia, North Carolina, and Colorado. These voters, for whom the American Dream has become a nightmare, could be an important voting bloc in the November election.
The best solution is for the federal government to require banks to write down the principal on their mortgages so that their mortgages are worth market value. If mortgages were reset, this would not only fix the foreclosure crisis but also pump $71 billion into the economy annually and create over one million jobs a year.
The Obama administration has proposed a “principal reduction” fix, but only on a voluntary basis. Obama needs to ratchet up his demands on the banks, require them to modify “under water” loans that have put millions of families in economic jeopardy through not fault of their own, and contrast his approach with Romney’s “Let it run its course and hit the bottom” approach.
By taking on the banking lobby, and helping millions of homeowners who are suffering because of Wall Street’s risky and illegal practices, Obama will help guarantee his re-election in November. Then Mitt can go back to his homes in Massachusetts, New Hampshire, and California — and perhaps buy another one in the Cayman Islands, where he can visit his money.

 "Advance, and never halt, for advancing is perfection. Advance and do not fear the thorns in the path, for they draw only corrupt blood." Khalil Gibran (Khalil Gibran was a Catholic Christian from Lebanon)
Mitt Romney's Is Using Divisive politics like when he endorsed Scott Walker who divided his State so badly he went through a recall election - He was doing the opposite of Ronald Regan too!  (i.e. Mitt is DEFINITELY using Frank Luntz - see video of Frant Luntz above)

Related: Mitt Romney calls for an end to divisiveness... by insulting Chicago!

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