Chas' Compilation

A compilation of information and links regarding assorted subjects: politics, religion, science, computers, health, movies, music... essentially whatever I'm reading about, working on or experiencing in life.

Monday, August 02, 2010

Hedge Funds, Democrats & the Financial Crisis

While posting about the Chelsea Clinton Wedding, I came across some links about Clinton/Democrat corruption, and our current financial crisis. Here are some of the more interesting bits:

Bridegroom's Father is Ex-Congressman & Convicted Felon
[...] It Runs in the Family

Edward Mezvinsky was convicted of fraud for shady business deals that had prosecutors calling him a "one-man crime wave." Prosecutors claimed that in 20 years of doing business between 1980 and 2000, every single deal he consummated displayed aspects of fraud. After his indictment in 2001, he pleaded guilty to 31charges of bank fraud, mail fraud, and wire fraud. He tried to raise a defense of diminished capacity due to his suffering from bipolar disorder, but the judge disallowed it.

His rip-off of almost $10 million got him seven years in the hoosegow. Ed Mezvinsky got out of the federal lock-up in 2008. By then, his son Marc was dating Chelsea Clinton. Both children of politicos attended Stanford University in Palo Alto, California, where they studied finance. They became friends at Stanford, and the friendship ripened into a romance sometime around 2007.

Post-Palo Alto, while Marc decided to enter the more venerable profession of investment banking, Chelsea opted to join a hedge funds. She eventually got a job with the Avenue Capital Group, big campaign donors for both her parents.

Hedge funds as they are now constituted were illegal from 1933 to 2000, as their type of activity was outlawed as it was considered as destabilizing speculation that helped cause the Great Depression. In the year 2000, her papa bear Bill Clinton turned his back on 67 years of proven financial regulation and signed a bill legitimating speculation. Mama bear Hillary was running for the U.S. Senate in the State of New York, Moloch's Big Town, and needed the big bucks from the free-booting financiers.

Baby bear Chelsea is doing very nicely as one of the parasitical class that has turned the United States into an economic and financial casino. A "casino" economy and stock market is a state of affairs which economists considered to be the antithesis of a well-managed economy well into the 1990s, when the hustlers took over and began to brazenly rule the roost. [...]

Of course, you aren't hearing any of this from the MSM, as they gush, and gush, and GUSH over the $3,000,000 dollar Clinton wedding. After all, as they keep telling us, the Clintons are political ROYALTY. And isn't that what America's all about? Worshiping Royalty?

Unfortunately, the corruption continues. Lest you think this is all in the past, it's tentacles most definitely reach into the present:

The Soul of the Democratic Party Sold
[...] Hedge funds have been major financial backers of Democratic candidates ever since Bill Clinton made like Abe Lincoln, the Great Emancipator, and set them free. Chelsea's mother Hillary received mucho hedge fund loot during her 2008 bid for the Democratic Presidential nomination. Hedge fund managers hedge their bets, and they also heavily backed Barack Obama, who rewarded them with a watered down "financial reform" bill that left hedge funds unmolested and hedge fund mangers' incomes taxed at the lower capital gains tax rate.

Former Goldman Sachs trading desk honcho Rahm Emmanul is President Obama's chief of staff, whilst his recent Supreme Court nominee, Elena Kagan, worked as a paid "adviser" to the financial power house. Goldman Sachs is what J.P. Morgan and the House of Morgan and Paul Mellon and the Mellon Bank were to Republican Administrations in previous years, the marionette master who pulls the strings.

As predicted by naysayers, within seven years of Clinton legitimating financial speculation, hedge funds and other speculative financial schemes helped bring the U.S. economy back on its knees in the worse political catastrophe since the Great Depression.

Since it was Bill Clinton's "centrist" Democratic Leadership Council that sold the soul of the Democratic Party to Wall Street, it is fitting that Chelsea Clinton should be marrying the son of a convicted felon who works for the titan of Wall Street, a firm that engages in legal robbery. It recently got off easy from double dealing in the subprime mortgage market with a half-billion-dollar fine. [...]

Remember when the Goldman-Sachs executives were hauled before Congress to testify? It was just a dog-and-pony show for the cameras. Sachs went along with it, and in return were basically getting a bail-out.

Bill Clinton's administration occurred during one of the most prosperous times in American history, but he had little to do with it. He was riding the coattails of prosperity set into motion by previous Republican Administrations. Clinton's spending was held in check by a Republican dominated Congress, so Clinton didn't over-spend. Where the Republican's failed, was in going along with Clinton's "Centrist" financial reforms and his expansion of the Community Reinvestment Act in 1997, which was then used by "activists" and "community organizers" (like Obama?) to coerce lending institutions to make millions of bad loans.

When there were signs that the melt-down was coming, some Republicans tried to make corrective reforms, but they were blocked by Democrats. Thus, the inevitable happened.

Now, what can we do about it? Remember in November.


Also see:

The roots of the financial crisis
     

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2 Comments:

At Sun Nov 14, 08:57:00 AM 2010, Anonymous Anonymous said...

Chas, found your blogs while researching George Soros(yes, I am a GB junkie)and they are very informative. I appreciate your inquisitive mind! After reading your Soros & Clinton/Hedge Fund posts I had an "Ahh Haaah" moment. I never knew the scope of corruption.Now things make sense! Would love to see this(HedgeFunds,Democrats& theFinancial Crisis) made into video spot on Glenn Beck's program. Do u think American's could handle it? Thanks for being in your SOTJ bunker blogging the good stuff!

 
At Sun Nov 14, 11:29:00 AM 2010, Blogger Chas said...

The Hedge Fund connection does need to be talked about more. Look at this:

Glenn Beck Exposes George Soros' Ties to Petrobras
[...] Through his Soros Fund Management hedge fund, Soros is heavily invested in many different things. But one that caught my attention (and seemingly no one else's) recently is Petrobras. What is that? It's Brazil's state-controlled oil behemoth. It's Brazil's version of Big Oil. They've netted $15 billion in profits during the last year. As of March 31 this year, SEC filings show Soros Fund has $637 million vested in Petrobras. Last December, the fund had $900 million invested in the company, making Petrobras one of its two largest stakes.

What did Soros see in these guys that the rest of the world didn't? Is he just that much smarter than everyone else? Or is it possible because of Center for American Progress and all the other connections Soros has at the White House, he knew that the administration would be making a $2 billion "preliminary commitment" to Petrobras for "exploration," just days after he strengthened his investment? Or was that just another one of those bad luck situations for Obama? Because it certainly doesn't seem to pass the smell test: A billionaire investor dumps money into state-controlled Brazilian oil company and days later administration dumps $2 billion dollars into the same exact company? Now the administration is crippling the American competitors and the biggest winner in this is Petrobras.

Mind you, this is a multi-billion dollar company that rakes in tens of billions in profits each year. Why in the world would these guys need a loan? And why are we investing in another country's offshore drilling while banning ours?

Yes, why indeed are we doing this? [...]


This is just one example. Beck has alluded to the rising price of foods, and Soros hedging his bets on that. It's a subject that needs to be expanded on and talked about more.

 

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