Friday, Mar 27, 2009
And the wolves will dwell with the lamb
The Telegraph: Wall Street backs Barack Obama's toxic assets plan
Leading Wall Street bankers pledged to support President Barack Obama's plans to revive and restructure the financial sector as he attempted to smooth over a fraught fortnight in which members of the industry have become public enemy No 1.
Jamie Dimon, chairman of JP Morgan, one of the first to arrive for the lunchtime meeting, said that "everyone in the room came from a point of doing what is right for the United States of America, not their company."
Posted by devo @ 09:23 PM (544 views) Add Comment
7 Comments
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1. devo said...
and a little child will lead them
2. mander said...
No No No, Democrats now are trying to save the system not change it. Remmber Clinton making CDSs legal so would Democrats ban such instruments now?
3. hpwatcher said...
these people want a really deep depression....all the signs seem to indicate it
4. devo said...
No No No mander
POLITICIANS are trying to save the system.
Party politics is something of an irrelevance now.
5. crunchy said...
"Leading Wall Street bankers pledged to support President Barack Obama's plans to revive and restructure the financial sector."
crunch- Of course they do, they backed him through the damn election. This cra9 is getting far too obvious to me and here we go again "JP Morgan, one of the first to arrive for the lunchtime meeting"
Sigh!!!!!!!!
6. flintster1994 said...
You only have to have watched his election campaign and then witnessed his appointments to realise that the status quo is preserved.
End of!
7. rotten tomato said...
So the gambling banks will sell the bad balance "assets" at full 97% of their face value to the govt... hedge funds will put 3% of the money in and the US taxpayer the rest... yes, as Jamie Dimon says they are all there in the interest of the USA, not their own companies. Yeah right.
Watch for episode two: after all the cra* has been offloaded onto the taxpayer's books, the banks will still not lend, but they will effectively have escaped the noose of bankruptcy reorganization. Meanwhile the people will have to endure genocidal cuts in services, health care, and the best to come, a green imposed (but financially convenient for the oligarchs) power rationing and cutting down of living standards back to the 18th century. Amazing how fast the West under the sway of the '68er-fincancier leadership tandem is back-pedalling all its social and technological conquests.