shaping the new financial architecture…

When pollsters address financial reform

Posted in Fraud, Lobbying, Senate Banking Committee by Kitty on February 9, 2010

Reblog from American’s for Financial Reform: Heather Booth: Beware Frank Luntz’s Lies

AFR Director Heather Booth has a new column on the Huffinton Post exposing Frank Luntz’s lies about financial reform.  Here’s an excerpt from her post:

Seen this ad from the “Committee for Truth in Politics”? If the name weren’t comical enough, the visuals are. But that doesn’t mean we shouldn’t take the message seriously. The claim that financial regulatory reform is a $4 trillion bank bailout doesn’t really resemble any truth, as Factcheck.org explains. Yet we know this is just the beginning of what we’ll see and hear as the weeks roll on for the push for real financial regulatory reform. And where did these conservatives get the idea to say black is white and up is down? Frank Luntz.

Frank Luntz, pollster to the right wing and Wall Street agenda, has written a 17-page memo on how to talk about financial reform in order to destroy it. This is the same Luntz whose health insurance reform talking points – on how to best stir up fear and confusion in the American people to derail reform and protect insurance industry profits – showed up across conservative websites and in the mouths of lawmakers. So it shouldn’t be surprising that he’s at it again. After all, his client list is a who’s who of the corporate interests who helped to create the crisis, including Merrill Lynch and Bear Sterns.

When the Frank Luntz Memo wasn’t making me laugh with its absurdity, I was outraged that he uses 1984 George Orwellian advice to call good, bad; to say the solution is the problem. It’s this kind of thinking that inspired belief in the “death panels” that were a fabrication in the health care debate. And it is dangerous because he may have enough money to promote it again and again — so that it may sound real.

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The Goldman push, push, push…

Posted in Federal Reserve, Fraud, TBTF by Kitty on February 8, 2010

From the New York Times… “Testy Conflict With Goldman Helped Push A.I.G. to Edge

~~~ “…When A.I.G. asked Goldman to submit the dispute to a panel of independent firms, Goldman resisted, internal e-mail messages show. In a March 7, 2008, phone call, Mr. Cassano discussed surveying other dealers to gauge prices with Michael Sherwood, Goldman’s vice chairman. At that time, Goldman calculated that A.I.G. owed it $4.6 billion, on top of the $2 billion already paid. A.I.G. contended it only owed an additional $1.2 billion.

Mr. Sherwood said he did not want to ask other firms to value the securities because “it would be ‘embarrassing’ if we brought the market into our disagreement,” according to an e-mail message from Mr. Cassano that described the call.

The Goldman spokesman disputed this account, saying instead that Goldman was willing to consult third parties but could not agree with A.I.G. on the methodology…”~~~

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TARP Top Cop On The Dylan Ratigan Show

Posted in Fraud by Kitty on February 4, 2010
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