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interest, and no procedure to deal with them.”58 Another example of a company that came in under the TARP, so to speak: GE Capital. We all think of General Electric in terms of light bulbs and home appliances (along with ownership of NBC), but its finance wing is GE Capital, which lends out money for real estate ventures and Wal-Mart credit cards and the like. They’d be the seventh largest bank in the U.S., if they were classified that way. But since GE Capital is an arm of an industrial corporation, they can put forth handsome finance arrangements for those who purchase their products. And when the bailout happened, they ended up somehow qualifying for a government-guaranteed program allowing them to raise almost $75 billion by the close of the first quarter in ’09. The debt comes due when FDIC guarantees run out in 2012. In the banking realm, that’s called “the cliff.”59 Seems like there’s quite a few of those pinnacles to climb and fall down. President Obama’s largest private campaign donor was Goldman Sachs, whose employees coughed up $981,000 to him during the presidential campaign.60 I would have a hard time sleeping at night if I was running for public office and knew Goldman Sachs was my top contributor. But that’s what makes me different from a Democrat or a Republican. To them, it’s all about winning. Altogether, Obama got $9.9 million from Wall Street bankers and, investment and security firms.61 No matter how nice we think the president is, and what a brilliant speaker he is, he’s still beholden to these power brokers. I don’t hold out much hope for the new Financial Crisis Inquiry Commission to be any different than the Warren Commission or the 9/11 Commission when it comes to exposing the truth. Look who Obama named as his chief economic adviser: Lawrence Summers, the ex-Harvard president who made $5.2 million for a one-daya-week job with a hedge fund (D.E. Shaw) in 2008 and simultaneously earned $2.7 million in speaking fees from folks like Goldman and Citigroup.62 In a “past lifetime,” Summers joined with Rubin and Greenspan in the bankers’ crusade to stop the government from regulating the same financial derivatives market that ended up causing the economic meltdown.63 Then there’s Obama’s treasury secretary, Timothy Geithner. He’s the fellow who, while president of the New York Fed, suggested to Paulson and other economic bigwigs in June 2008 that the president should be given “broad power to guarantee all debt in the banking system.” Considered politically unfeasible at the time, as it potentially put taxpayers on the hook for trillions, the government

Profile for HAROLD ARROYO, JR.

AMERICAN CONSPIRACIES, LIES AND DECEPTION FROM THE U.S. GOVERNMENT, JESSE VENTURA  

AMERICAN CONSPIRACIES, LIES AND DECEPTION FROM THE U.S. GOVERNMENT, JESSE VENTURA  

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