People used to say, "Follow the money." However, in the Obama administration the new saying is, "Control the money." And that is exactly what they are doing.Based on this information from the Wall Street Journal, the Fed may have to prosecute itself under RICO statutes, having made banks an "offer they couldn't refuse."
It appears the banks were asked to take the TARP funds, in order to give credence to the program. With all those lawyers on the payroll, you'd think they read the fine print, because there appears to be no "opt out" button on this control panel; thus banks are subjected to "gubment" control.
In the article Stuart Varney explains in a discussion with a colleague the tactics being employed by the government [details obscured to prevent retaliation] to intimidate banks:
The chairman offers to write a check, now, with interest. He's been sitting on the cash for months and has felt the dead hand of government threatening to run his business and dictate pay scales…The bank has also been threatened with "adverse" consequences if its chairman persists. That's politics talking, not economics.
Smaller more insignificant banks have been allowed to return the money, amounting to little more than token repayment gestures, considering the amount of money in play. However larger more prominent banks are being strong-armed.
These tactics are being employed so that the government will own a piece of these organizations, thus allowing oversight. Translated—Control.
Now we all know the inevitable outcome of the government running anything: A meal of waste and fraud, with incompetence for dessert. But remember that the government is not about competence in running a business. What is ya…ignant?
The government runs businesses just like the mafia.
Recall the scene in Goodfellas, when the restaurant owner asks Paul Cicero, aka Paulie (played by Paul Sorvino) to partner with him. He was driven to desperation by one of Paulie's own men, in this case Tommy deVito (played by Joe Pesci), who owed a huge tab on which the restaurant owner couldn't collect.
So in a last ditch effort to save his restaurant, he reached out to the government…oops, I mean the mafia.
Paulie feigning reluctance agrees to partner, saying "What do I know about running no restaurant?" Now the same could be said for the Fed. What do they know about running the financial industry? Hint: Fannie Mae and Freddie Mac are examples.
As Henry Hill (played by Ray Liotta) narrates in the film, the mafia owning that restaurant was a license to steal. And that they did.
Liquor, food, and other merchandise came in the front door, and went straight out the back door for cash. They ran up debts on the restaurant and the owner to such a degree, that the guy is shown signing the restaurant over in bankruptcy not long afterward…dejected.
Here's the wrap:
In the final restaurant scene in Goodfellas, Henry and Tommy end up torching the place. They then drive away as if nothing happened, dismissing the life of the restaurateur who was ruined in the process. A fitting end that the mafioso who started the vicious cycle, also ended it.
As Varney pointed out in his article, "that's politics talking" alright. South Side Chicago politics. Big mouth, brass knuckle politics mandating The New World Order.
So if what the Fed is doing sounds suspiciously like that scene in Goodfellas, it's because it is. Life mimics art. ObamaNation is ready and willing to offer its "assistance", just as the snake in the Garden of Eden encouraged Eve to bite the apple.
Like a spin on the lyrics of Hotel California, they can check in any time they like, and they will never leave…that is until they have bankrupted you, and burned down your house.
From this black conservative's vantage point, government has indeed gotten bigger and blacker.
That's my rant!
© 2009 Kevin Jackson – The Black Sphere All Rights Reserved
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32 comments:
Thank you for the post Kevin.
As a young person who doesn't quite understand everything that is happening, but willing to learn, this post was really helpful. The Goodfellas reference is great.
""A meal of waste and fraud, with incompetence for dessert.""
Whoo-Whee, did you nail it, or what!
Keep it up, Kevin. The country needs clear-thinking people like you to cut through this BS!
OMG, I haven't laughed this hard in a while! This was one of your best blogs, RICO! I am still laughing.
Thanks for the Rant.
Your Barbados Buddy
I also read earlier today (4-23) that Bank of America may have been forced by the guv'ment into buying Merrill Lynch. http://tinyurl.com/dz5lo2
@49er16 - I truly appreciate that you learned from the blog. The humor is just the aftertaste!
@drjim - I appreciate the support, and comments! Avid supporters are why I do this.
@Barbados - Glad to make you laugh! Get me a LOT of fans in Barbados, so I can do a book signing there! :-)
@abe - Thanks for the hat tip. Will check it out.
I remember the 3 statements you should never believe (not at face value anyways): 1) The check is in the mail, 2) Of course I'll respect you in the morning, and the biggest one of all 3) I'm from the government and I'm here to help you. After Fannie Mae and Mac, if the banks needed lawyer that failed to look at the fine print to know these bail outs were a raw deal to over look what is a common joke, then they're getting what they deserve. The government, especially those that have a racist and corruption level of the Democrat party, are never looking out for your interests. I knew from day one of this with the Bush Adminstration this was a path to socialism, if not down right communism if BO got elected and now it's news that is what is happening. To those that are surprised all I have to say is DUH! An oversight of history: after dictators get the guns, the next thing they control is the money (except maybe the media, but that's a given in this case). All I can say about it now is be careful of what you wish for (socialists), you may get it.
@madmath1 - Too funny Dude. I shall remember those 3 rules!
That dog BO has created a real mess in the living room.
Using "Good"fellas was the perfect analogy.
Have a good day.
@Sam - funny comment!
Kathie Bray at 6:22am April 24
EXACTLY!!
Rosemary Bolton at 7:45am April 24
"The government runs businesses just like the mafia." ....now more than ever. very funny and sadly true. Hilarious photos, except BO can't have guns in his hands those must really be his two teleprompters, pull the trigger and the screens pop out like flags.
Have a wonderful Friday, Kevin! I hope to see you on every cable news network very soon!
Janet Randall at 9:40am April 24
That was great Kevin, put it on my wall to share with my friends. I couldn't get the counter to work for me but I wanted you to know I'd buy any book you wrote.
Bull's-eye again Kevin! The Goodfellas analogy is perfect. I wish there was something we could do to stop this run-away-freight-train ride to government control. As a (very)small business owner I'm getting awfully worried with each passing day. I think the whole "water-boarding" thing going on now is just another distraction from this, the Government takeover of American finance and industry. Oh, and don't forget, now we're going to pay for the UAW's pension and retirement plans. I wish they'd just use a gun to rob me. At least then I'd see it coming.
@Steve - Thanks for the read. And we certainly agree, that if they just tried to rob us at gunpoint, though slim, we would have a fighting chance.
Sadly, the majority of citizens still think President BO is doing a good job!
I guess he is, if you think a good job consists of destroying everything this country has been.
Thanks for a meaningful rant.
@Joe - I agree, partner. And thanks for the continued support!
NYCnative
Excellent blog.. excellent article.
We all saw this coming. With the Democrats controlling the House, Senate and the White House I knew that the spending from this government would look like a bus traveling down the mountainside highway with two accelerators and no brake. The only thing to stop this bus (spending and takeover) would be friction, gravity or a cliff to drive off of. That cliff will be the 2010 elections. People please do not sit on your hands this time around. Get out get fired up, get angry but above all vote for candidates that will be held accountable to their constituents not special interest not self interest.
Sir RonB
This was an excellent post and great idea to point out the similarities between our government and the mafia's way of working the game. The banks are definitely being made an offer they can't refuse.
Just like they were told to give a loan they would have never approved in a million years by our government in the first place. I still think the entire thing as been staged for this ending since day one.
Excellent Goodfellas analogy. Great post!
@SirRon - Exactly. Love the bank analogy!
@Julie - Thanks for the message, and Goodfellas is indeed a perfect metaphor for this. Amazing that others aren't seeing this.
@Tim - Thanks for the comment and visit!
Did anyone catch what happened in the senate hearings on Global warming, I mean, global climate change. Al Gore was speaking and a scientist that flew in to rebuke Gore's statements wasn't allowed to leave the airport. The government didn't want Gore to be embarrassed. The media made no comment on this tyranical act. Not only showing how control of the media and information is a given, but they also know "Global Climate Change" is a bunch of rubbish if they feel one man was going to embarrass Gore with what he said was a foregone conclusion. I know what's a forgone conclusion. This Adminstration is crazy, evil, and tyranical.
Kevin,
great blog! I don't know about you, but I can't WAIT to see what the "test" will be before the large banks can return the TARP money.
Just a naked power grab...he's not even trying to hide it anymore!
@Lynn - Thanks for the props, and the comment. I agree...butt-naked power grab, with no apologies!
ohpiddle
Does this bloger have a radio show.....he belongs up with the ranks of Rush and Larson, Heck I would love to hear his ideas. Common sense is hard to come by, keep up the good work.
ohpiddle
http://www.blogtalkradio.com/TheBlackSphere
The banks that are not being allowed to repay the TARP loans are the banks holding the GM and Chrysler bonds. Once they have been strong-armed into turning over those bonds to the UAW for pennies on the dollar, they will be allowed to repay the TARP funds with interest.
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