VERIFIABLE PROOF... WHY OBAMANOMICS DOESN'T WORK !...

[ironglow]

    John Corzine, former Democrat governor of New Jersey, left office to run MF Global, a major investment corporation.  He's been at it a couple years.  At least, he has been at it long enough for $600,000,000 of his investor's money to "get lost"..and poor Johnny doesn't know where it went to.... So MF is going BANKRUPT !
 
 
 
     
 MF Global Bankruptcy: Judge Approves $520 Million Payout To Clients     First Posted: 11/17/11 01:35 PM ET Updated: 11/17/11 01:52 PM ET     React    Inspiring
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The trustee liquidating MF Global Holdings Ltd's (MFGLQ.PK) broker-dealer unit won court permission to distribute $520 million of cash, providing relief to customers whose accounts have been frozen since the futures brokerage went bankrupt.
U.S. Bankruptcy Judge Martin Glenn approved the payout at a hearing on Thursday in Manhattan.
The payout represents 60 percent of the $869 million that has been frozen across commodity customer accounts that contained only cash, the trustee James Giddens has said.
Some 22,000 customers will be entitled to share in the payout, which Giddens expects to begin by November 21.
Commodities traders and exchanges said the freeze on the cash-only accounts punished customers who liquidated their trading positions before MF Global's bankruptcy.
Some customers faulted the trustee for not distributing more, while others complained they were ineligible to join in the $520 million payout. Glenn turned aside the objections.
      Nothing in the law "requires that all customers receive similar rates of distributions at the same time," he said.
Still unclear is the whereabouts of about $600 million of customer funds that have been unaccounted for since MF Global's Chapter 11 filing, and whether MF Global might have improperly mixed customer funds with its own.
These matters are among those being investigated by federal prosecutors, the Securities and Exchange Commission and Commodity Futures Trading Commission. All are examining why MF Global collapsed in the seventh-largest U.S. bankruptcy.
MF Global was run by former Goldman Sachs & Co (GS.N) chief and New Jersey governor Jon Corzine before its Chapter 11 filing on October 31.
The filing came after the New York-based company revealed that it made a $6.3 billion bet on European sovereign debt. Customers and counterparties began to flee, resulting in margin calls and a liquidity crunch. Corzine resigned on November 4.
(Reporting by Nick Brown and Jonathan Stempel in New York; Writing by Jonathan Stempel)
Copyright 2011 Thomson Reuters.
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   SO WHAT DOES THIS HAVE TO DO WITH OBAMANOMICS ?    WELL; CORZINE IS THE AUTHOR OF THE PROGRAM !           
 
      PROOF ?    ..Watch this short (only 1:41), informative video;
 
          http://www.youtube.com/watch?v=une165UP3Ng

[ironglow]

 OWS is talking communism..it doesn't work..  OWS preaches bigger govt, more spending, more regulations and more taxes..
 
   The Tea Party is talking less govt, less spending, less silly regulations and less taxes..the polar opposite of Obamanomics and OWS. 
   That's why the Tea Party is presently the only way to go..

[magooch]

The way I remember it, Corzine didn't "leave" office to become head of a rip-off investment firm; the voters of New Jersey fired him.  I'm not sure I have much sympathy for those who lost their butts. 
 
Obama is doing to this country what Corzine did to his company.  We're screwed.

[ironglow]

OWS is talking communism..it doesn't work..  OWS preaches bigger govt, more spending, more regulations and more taxes..
 
   The Tea Party is talking less govt, less spending, less silly regulations and less taxes..the polar opposite of Obamanomics and OWS. 
   That's why the Tea Party is presently the only way to go..

.
 
 
I believe you are mistaken, incorrect, about OWS.....for the most part. Less gov and less regulation enable guys like Corizine and MF Global.  We need proper governmnet not absence of governmnet. I wonder what MF stands for....
 
 
..TM7
.

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   I bet some of his "investors" could give you some good words for the acronym.. MF..!     

[us920669]

Yeah, the last honest Treasury Secretary was John Snow, who walked out when he realized how bad things were - further proof that the Bush Administration at least started out on the right foot.  The guy who pioneered the practice of handing the US Treasury over to crooks was Bill Clinton, who brought Robert Rubin down to start the whole tragic chain of events.


As to OWS, they have a legitimate beef, but don't have a clue what to do about it.  Someone talked to a few and it looks like about half of them don't know what SEC stands for. The biggest issue they see is opposition to hydrofracing an the Keystone XL.  What a commentary on our education system - they claim to be interested in Wall Street, never heard of the SEC but are fully up to speed on the latest eco-hoax.  We are screwed, all right.

[ironglow]

  Some may want those aims..but the violence & filth of the majority rabble destroys their minority message..  That seems to happen, whenever Marxists gather.
   Some of those goals are laudable, and could be heard within a reasonable and controlled protest.  Surely, some of them could be put forth through the Tea Party but the fact that they haven't been leads me to think that these sponsors didn't intend a reasonable and controlled protest.  Either that, or as I strongly suspect, they come from a secular, anarchist, big govt/Marxist base as opposed to the Tea Party, which is a Christian, freedom, small govt/capitalist base.
 
   This behavior is uncalled for..   http://newyork.cbslocal.com/2011/11/17/ows-protesters-chant-follow-those-kids-as-small-children-try-to-go-to-school-on-wall-street/

[NWBear]

What is "Obamanomics"
 
The "Too big to fail trading companies" failed on GW's watch does that mean "Bushonomics" is to blame for that (much bigger) mess???
 
MAYBE it is "Congressonomics" that lifted the "Regulations" which basically made Wall Street a casino where the "house" always took their cut right off the top.

[us920669]

It wasn't so much a regulatory failure as a case of government monkeying with what should have been a market process - banks lending money to people.  Roosevelt actually started Fannie Mae in '38, and it was a great thing - made it possible for an ordinary Joe to buy a home, but they kept the bar fairly high.  You had to be able to pay the loan back.  As years went by this idea was abandoned until under Clinton, groups like ACORN were actively looking for non-qualifying borrowers.  Obama's fingerprints are actually on the thing a bit.  While still a senator, he was one of many who threatened to filibuster a Bush Administration initiative to reign in Fannie Mae.  All Wall Street did was respond like Pavlov's dogs, pushing their snouts deeper and deeper into the pile of free money they found.  You could also blame the Fed for keeping rates too low, but no matter how you slice it, the buck stops with the nitwits who are still trying to run the country from Washington. 

[ironglow]

OWS is talking communism..it doesn't work..  OWS preaches bigger govt, more spending, more regulations and more taxes..
 
   The Tea Party is talking less govt, less spending, less silly regulations and less taxes..the polar opposite of Obamanomics and OWS. 
   That's why the Tea Party is presently the only way to go..

 
 
I believe you are mistaken, incorrect, about OWS.....for the most part. Less gov and less regulation enable guys like Corizine and MF Global.  We need proper governmnet not absence of governmnet. I wonder what MF stands for....
 
 
..TM7
.

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   The Tea Party wants to heal America...not DESTROY it !
     http://www.youtube.com/watch?v=8LqCUPvEAgA&feature=related
 
  Photos & posters from OWS ... below;

[us920669]

IG - A picture is worth a thousand words, isn't it.


TM - your first 12 words reveal a serious problem.  How could they act illegally in the absence of a law?  Seriously, the 75 year old banking law needed an overhaul, and they probably should have preserved the firewall between saving and investment banks, but that's really splitting hairs.  You want proper oversight?  Proper to who - ACORN and their politicians?  That's exactly what we got.  Congress has been bought?  Good grief, when did that start?  If congress didn't have its fingers in so many pies it wouldn't really matter.  As for derivatives scams, the biggest one yet just went down courtesy of John Corzine, a political insider who was set to take over the US Treasury.  Bottom line, only the government has the power to corrupt a society as thoroughly as the financial crisis indicates.


BTW, I've been out of circulation, had to drop by the emergency room last night.  Even the smallest little boo-boo can get infected.  I didn't tell them I did it taking my rifle bolt apart.   

[us920669]

No question, massive wrong-doing on the street.  It's amazing that people went to jail over the S&L mess, which was just a warm-up to this, but nothing now.  The reason, of course, is that the worst offenders are now top federal officials or chiefs of the most important institutions in the world.  You didn't mention the rating agencies.  They were deeply compromised.  The point is, who set the stage?  Who created an environment where such shenanigans became a matter of life or death for the companies managing our retirements?  It was government, in the broadest sense of the word.  A collection of human beings focused exclusively on remaining popular.  And it's not enough to single out a president or two.  The collapse has been building for about a hundred years, or more.  Everyone had the very best reasons to cut corners.  It's not like everything was fine until one person went bad.


That being said, my understanding is that President Johnson first hit on the idea of extending the blessings of home ownership to people who would not normally qualify, but even the Great Society liberals, as daffy as they were, realized they were playing with fire and held it down to a dull roar.  It was Slick Willy who decided to make it a priority.  I guess I just don't think you can blame Wall Street for exploiting such as opportunity.  And I don't think even the best informed of OWS's leaders understand even a tiny part of it.   

[ironglow]

Obamanomics will never work..because Obama distributes our tax money, not where it will do the most good for our country, but where it will do the most good for Obama..and worldwide socialism.
 
   If he were honest, he should be climbing all over Freddiemac and Fanniemae.  It is easily arguable that these entities were instrumental in getting us into the financial crisis we are in.  Here are powerful warnings and testimony (2004)..long before their collapse and subsequent bailout:  http://www.youtube.com/watch?v=9Q9JEwYoKfY 
 
      Now, the present directors..still hemmoraging billions have tyhe audacity to award themselves obscene "bonuses"..for failure  ?    http://communities.washingtontimes.com/neighborhood/middle-class-guy/2011/nov/2/freddie-macs-and-fannie-maes-obscene-bonus-plan/
 
  So why isn't Obama screaming them as he continually at other bankers ? 
 
   Why aren't the OWS occupiers camped outside their offices ?
 
  Could it be that OWS and the unions backing them, don't want to "embarass" Obama ?     
 
    Since when has the OWS crowd been hesitant to "embarass" anyone ?              

[saddlebum]

Why is it that, far too often, when people speak about Bush era economic history that the Democrat controled congress and their shenanigans are convenienly left out of the disscussion. You know, the mortgage crisis and housing bubble and all?
Not sticking up for Bush and his wars, but give me a break! Who's past policies are effecting us the most still today? Who keeps the wars going now and encourages more in places like Libya? Whos in charge of the spending now? AND HOW MUCH? Obama has already spent more of someone else's money than any other president in history.
To say Bush was bad and use that as an excuse to do worse just ain't cuttin it!
 
I truely wish that this incident was the only proof of Obamanomic failure. We would be better off for it.

[Junior1942]

Why is it that, far too often, when people speak about Bush era economic history that the Democrat controled congress and their shenanigans are convenienly left out of the disscussion. You know, the mortgage crisis and housing bubble and all?
Not sticking up for Bush and his wars, but give me a break! Who's past policies are effecting us the most still today? Who keeps the wars going now and encourages more in places like Libya? Whos in charge of the spending now? AND HOW MUCH? Obama has already spent more of someone else's money than any other president in history.
To say Bush was bad and use that as an excuse to do worse just ain't cuttin it!
 
I truely wish that this incident was the only proof of Obamanomic failure. We would be better off for it.

See? Everything bad is Obama's fault.  Your daughter gets pregnant out of wedlock.  Obama did it.  Your momma's car breaks down.  Obama did it.  It rains/doesn't rain snows/doesn't snow gets hot/gets cold Obama did it.  That man is amazing!!!

[DDZ]

Gee, all along I thought it was all Bush's fault.

The problem with the OWS gang is that all their solutions involve government fixing something, and we all know how well that works. Kind of like asking the fox to guard the hen house.

If the OWS gang isn't about spreading socialism and communism, why then are they supported by Obama, and just about every socialist, and communist organization there is? Of coarse we can always just deny that is true. Then we can still have a reason to hate rich people, and say the OWS crowd just want what 99% of us want.

[DDZ]

Does it not say something about the ows protesters, when we look at who their supporters are.?   
 
http://rebuildingfreedom.org/2011/11/18/the-obama-administration-and-the-o-w-s-occupy-wall-street-protesters-2/