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Matt Taibbi writes: "The idea behind this federally-guided 'settlement' is to concentrate and centralize all the legal exposure accrued by this generation of grotesque banker corruption in one place, put one single price tag on it that everyone can live with, and then stuff the details into a titanium canister before shooting it into deep space."

President Barack Obama departs the White House via Air Force One. (photo: Getty Images)
President Barack Obama departs the White House via Air Force One. (photo: Getty Images)

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+36 # tomhanigan@gmail.com 2011-08-25 08:36
Well put, Matt.
 
 
+15 # Stu Piddy 2011-08-25 08:53
Barry started on this very early with his home purchase with the help of Rezko in Chicago. It's clearly a bribe given to Obama in the form of helping him reduce the cost of the purchase of his home.

Obama is just another crook. And as his so call success increased, the bigger crook he became.

I wrote about this in 2006

http://www.myleftwing.com/showDiary.do?diaryId=12660

And I have been writing since that time that Obama would be a disaster because he was a pure capitalist, pro Israel, Pro war and would expand wars all over the mid east.

I knew this because he said he would.

But liberals are too enthralled with covering up their feelings of racism ( they can't comphrehend why they have no dark skinned friends, aquaintances or relationships.. .they only know they shouldn't be racists...it's not in fashion) so they voted for Obama without listening to what he was saying all along.

And how he got away with this house purchase is amazing. it's so obvious
 
 
+21 # mjc 2011-08-25 10:34
Matt Taibbi's article, a complete and strong analysis, and your comment think we do know more than we would like to know about this president and the takeover of our government by banks, corporate interests and mortgage investors and handlers. Instead of playing what is going on with Libya and Qaddaffi or worrying about Irene, this information should be on the front page of every newspaper in print and on the internet.
 
 
+6 # dr. labwitch 2011-08-26 10:34
i'm a liberal. i voted obama because the alternative was just too obviously repub. boy did i make a mistake. i should have merely sat it out and made plans to move.

John Adams would have beaten hell out of someone by now. make the corporation persons do it. SCOTUS says corporations are no different than individual persons. so, corporations, start cleaning!
 
 
+1 # acer14 2011-08-26 15:34
"But liberals are too enthralled with covering up their feelings of racism ( they can't comphrehend why they have no dark skinned friends, aquaintances or relationships.. .they only know they shouldn't be racists...it's not in fashion) so they voted for Obama without listening to what he was saying all along."

Agreed. Hate to admit it but I've been saying it all along: A white person with the same resume as Obama (Taught some college, community organizer, ran for office, ran for office, ran for office) doesn't get a sniff in the DEM primaries. Any DEM with a pulse was going to beat McCain so the true presidential election of '08 was the DEM primary.
 
 
+23 # David Kalke 2011-08-25 09:02
Is that news? He has been with big business since his campaign! It is a given. Like the Nobel Peace Prize Winner has invaded Afghanistan, provided secret support to hawkish Hilary for the "Arab Spring" and war on Libya - to serve the oil companies already inflated profits. What a disappointment he is.
 
 
+25 # DPM 2011-08-25 09:10
Harboring and protecting a criminal is, for the rest of us, a criminal act. But, once again, it doesn't look as though our "leaders" see themselves as citizens of this country. They see themselves as above the law. That in of itself makes them criminals and they should be prosecuted along with the crooks they are protecting. The question then becomes, who will try them, in front of what incorruptible judge? We need to "grab our pitchforks" and take to the streets!
 
 
+30 # OldRedleg 2011-08-25 09:14
"But it seems to me that it might be time to wonder if is this the most disappointing president we’ve ever had."

It became past time when he caved on the expiration of the Bush tax cuts and way past time when he caved on the debt ceiling fiasco!
 
 
+19 # mjc 2011-08-25 10:37
There were indications long before his help with the wealthy's tax cuts. He began by not helping FISA and not closing GITMO and not calling for universal health coverage....Thi s wasn't the man we thought we were electing. He was left on the campaign trail.
 
 
+18 # angelfish 2011-08-25 09:32
Again, DISGRACEFUL! Mr. President, if you support this and do this TERRIBLE thing, you are no better than your predecessor and you WILL lose my vote! Americans have PAID and PAID and PAID for these incredibly IMMORAL, UNhuman, wads of excrement to CONTINUALLY rape the most helpless and vulnerable among us. JUSTICE is SHRIEKING in our ears to be served rather than, once again, being tossed under the Bus! Mr. Buffett, giving Bank of America FIVE (5) Billion dollars will do as much good as if you'd flushed it down the toilet! HOW did we get so simple-minded, making the SAME mistakes over and over and over again? Le Deluge is imminent and I don't mean Hurricane Irene! WAKE UP! HELP AMERICANS!
 
 
+15 # Tee 2011-08-25 09:38
He knows he is not going to be elected. so he is choosing the side that will better take care of him and his family. What will siding with his base get him?

He is looking to get the same parachute his predecessors Bush and Clinton recieved. The pay off is that he plans to raise a billion dollars for his compaign. He is a complete, typical, political sellout to the rich.
 
 
+23 # Robt Eagle 2011-08-25 09:56
Read Gretchen Morgenson's book"Recless Endangerment" to get the scoop on the entire financial crisis auses. Then you will see that Barney Frank and Christopher Dodd are up to their eyeballs in cahoots with Fannie Mae whop made out like super-bandits. Eric Schneiderman should be congratulated for his role, and encouraged to continue to go after the bad guys in this whole routine. Get the Fannie Mae crooks, the legislators who looked the other way with their hands out (or favoritism for those close to them), and the bankers (Wall Streeters) who packaged up garbage and sold it as gold. By the way, Schneiderman should also go after S&P and Moody's who gave the gold seal of approval on the same garbage. It is about time these crooks paid the price for their arrogance and political muscle influence that hurt so many hard working Americans and those also around the globe who got taken in by the credit mania on real estate. Thank you Gretchen and Eric!
 
 
+15 # Carolyn 2011-08-25 09:57
Let's take action. Email or call our Representatives to pass Glass-Steagall right away, over Obama's veto. Ask Obama to resign.
 
 
+15 # Stu Piddy 2011-08-25 10:10
Thats a joke....email "YOUR"???? representative.

Your representatives represent the bankers, not you. That's why there's no appeal to the popular vote. noboby pays attention to that anymore. They pay attention to money...and not enough comes from voters to make a difference...an d the government is now privatized anyway....

Don't email your representatives.

Throw rocks at Bank of America
 
 
+19 # wrodwell 2011-08-25 10:01
I thought NY Attorney General Schneiderman was kicked out of the AG group a few days ago for not playing ball. If not, I hope he'll throw a slew of monkey wrenches into the stew and force the Obamaians to approach the huge financial corruption scandal with a view not only toward punishment, but also toward creating truly effective banking regulations that would prohibit/punish current and future corrupt behavior. With Obama pushing the easy "solution" he's not just the most disappointing president we've ever had, he's a guy who's gone from being feckless to reckless. Woe is us. It's time to urgently start looking for a genuine agent of change to run against the machine in the next election in order to avoid the unpalatable choice between Obama and some rabid Republican. This scenario would become moot if Obama himself changes course and becomes the Campaign Trail Obama, not the current mouthy fraud that he has so disappointingly turned into.
 
 
+18 # BVA 2011-08-25 10:05
A question for every Republican presidential candidate:

"The Obama administration appears to have delayed (deferred, suspended, or slowed) prosecution and civil litigation against executives of banks, mortgage companies, and other financial entities presumably until the economy recovers sufficiently so as not to interfere with that recovery.

"Do you, sir, plan to reinstitute and/or reinvigorate these deferred investigations, prosecutions, and civil litigations against financial executives and entities implicated in causing the economic collapse when the economy recovers?"
 
 
+1 # Texan 4 Peace 2011-08-26 19:24
"Do you, sir, plan to reinstitute and/or reinvigorate these deferred investigations, prosecutions, and civil litigations against financial executives and entities implicated in causing the economic collapse when the economy recovers?"

If that's a question for EVERY Republican candidate, that "sir" is undoubtedly misplaced. We're long past the time when one could automatically assume all candidates were male. Catch up, please.
 
 
+2 # collierdds 2011-08-26 19:28
The Repubs will answer with every dishonest equivocation they can muster, if, indeed, they would respond to this question. Their response would probably be the same as seen in Rick Perry's answer to the woman in the bake shop the other day: cram the cookies in the mouth, ignore the question, and move along.
 
 
+22 # jon 2011-08-25 10:22
And yet again, if all money was moved out of commercial banks and into local credit unions, that would be a vote they could not ignore.

When Reagan deregulated commercial banks, credit unions were not included. That is why they didn't go through all of the melt-down issues, etc.

AND, relative to the B of A, and the rest, they are like mom & pop businesses.
 
 
+16 # giraffee2012 2011-08-25 10:47
Bernie Sanders???????? Are you listening? We need you!!!!!!!!!!!! ! Cannot sell out to the TP/GOP and if this is 100% true = we will go DOWN DOWN DOWN with the bigots taking our education back to the stone age, giving us shovels to dig our own graves rather than the health care we paid for and on and on.
 
 
+13 # MidwestTom 2011-08-25 10:53
According to the Wall Street Journal Obama has already raised $35 million from Wall Street by the end of july. Do you really think that he cares about us?
 
 
+1 # giraffee2012 2011-08-25 12:34
Quoting MidwestTom:
According to the Wall Street Journal Obama has already raised $35 million from Wall Street by the end of july. Do you really think that he cares about us?


On the other hand - the Supremes' 2010 decision to give big $$ "personhood" -- perhaps President Obama MUST secure money from big $$ - or not be heard at all. I'd still vote for Obama before a GOP/TP (who have TOLD us they want the rich to get richer and the mid/poor to DIE without education/medical/etc)

VOTE 2012 -- do not sit home bc you don't like your choices. Take the best of the worst -- UGH
 
 
-3 # Burns 2011-08-25 18:56
"The lesser of two evils" way of thinking is BS. Anyone with intelligence will vote Ron Paul. He is the only candidate worth a try.
 
 
+1 # dr. labwitch 2011-08-26 10:25
i'd vote for whomever the dems run. i refuse to ever vote repub. it's anathama.
 
 
+3 # Burns 2011-08-26 10:55
Then you're part of the problem.
 
 
-7 # Jim Grandone 2011-08-25 11:41
Sounds like an excellent ideda to get rid of the cancer that caused the meltdown. What's the matter Matt, house getting foreclosed on?
 
 
+9 # Lulie 2011-08-25 12:02
I'm sure glad I'm not trying to raise an ethical child in this cultural environment. Doing the right thing has become some quaint notion from long ago and far away.
 
 
+9 # James Marcus 2011-08-25 12:06
Obama...
Supreme Liar..... The Banksta's Man, Pied Piper, from the get-go.
Jive Cat; smooth, slick and Treasonous.
Unlike Bush (same Controllers), he has both a tongue and a brain. Good for fooling everyone.
 
 
+3 # fredboy 2011-08-25 15:10
The meltdown of law, ethics, justice, and citizenship--ca ring about all--is clear. And tragic.
 
 
+6 # fhunter 2011-08-25 15:22
Bush(43) and Obama, both worked for one "noble" aim: getting reelected.
 
 
+8 # punk 2011-08-25 18:28
i met a crazy lady in 2008. she was into all kinds of bizarre conspiracy theories, one of which was that the gov is psychologically brainwashing us and another was that obama is secretly a republican. i no longer think she is crazy.
 
 
+3 # Burns 2011-08-26 10:59
Go to yahoo and look at comments on ANY article, then ask yourself if the public may be brainwashed. It's an eye-opener. (BTW they're all on the same team, punk.)
 
 
+3 # Texan 4 Peace 2011-08-26 19:27
No kidding -- now I see why they call it yahoo news, it's cause that's who reads it. I had to stop looking at those comments, they made me too depressed. Let's just be glad they're spending their time that way and not making pipe bombs.
 
 
+1 # jtom 2011-08-25 19:38
Now do you see why Hot Rod thought he was being left out of the income he should be geting in campain contributions? It looked like it was wrong to him.
 
 
+7 # jtom 2011-08-25 19:50
If we had not bailed out AGI and took the money we could have bought the subprime loans and kept 80% of the buyers in their homes. The banks ewould have lost money on the insureance, with out the profits.
The economy would not crashed and the housing market would still be growing, unemployment would be on the 6.5 to 8% range.
 
 
+9 # MainStreetMentor 2011-08-25 20:02
A quisling of the lowest order displaying absolute capitulation and betrayal of middle-class America by the person we had believed was our protector and deliverer. Judas couldn't have been any lower.
 
 
+9 # MainStreetMentor 2011-08-25 20:11
I believe it is a misdirected personal drive for validation of adoration, i.e., being seen as a reasonable man which diverted this President from being one of the most positive, beloved leaders of his country to perhaps one of the most loathed. A tragic loss, not just personally, but for our country and the entire world. My word, Mr. President … your actions have destroyed an entire country’s faith in its’ government. You’ve left us to the mercies of non-caring, greed mongers.
 
 
+7 # tomo 2011-08-25 21:13
Tiabbi understands. We had a corrupt Grant Administration, but Grant had no skill in defending his greedy cronies. Again, with Harding: same deal. In Obama we see being completed the greatest heist in American economic history. Just about all the assets of the middle class and the poor are magically disappearing--o nly to reappear in the account books of the banks. Obama is the most skilled in dishonesty of anyone who has ever occupied the White House. He is profoundly a traitor to the institutions of America and to the people who voted for him. He is far worse than his tea-party critics realize--a much more dangerous and destructive influence than they say, but for reasons quite different from what they can understand.
 
 
+5 # Activista 2011-08-26 10:52
again great analysis tomo - the paradox is that more Obama is selling/sold out to Wall Street Oligarch - more as a democratic presidential candidate he is loosing (look at the polls).
Obama should opt form 2012 elections - but I doubt it - all around him admire "The Emperor's New Clothes".
 
 
-6 # Burns 2011-08-26 11:03
Bottom line - the warnings were all there before he was elected. Communism is alive and well and the Reds are here.
 
 
+3 # dr. labwitch 2011-08-26 10:22
obama had promise, then he showed his true colors by playing along in order to have congress like him. they don't! they never will! so why bother to appease them?

Just freaking stand up and act like a man.
 
 
+1 # Burns 2011-08-26 11:04
Is that the best you can come up with, "dr"?
 
 
+3 # Activista 2011-08-26 11:07
The Emperor's Obama New Clothes
An Emperor who cares for nothing but his appearance and attire hires two tailors who promise him the finest suit of clothes from a fabric invisible to anyone who is unfit for his position or "just hopelessly stupid". The Emperor cannot see the cloth himself, but pretends that he can for fear of appearing unfit for his position; his ministers do the same. When the swindlers report that the suit is finished, they mime dressing him and the Emperor then marches in procession before his subjects, who play along with the pretense. Suddenly, a child in the crowd, too young to understand the desirability of keeping up the pretense, blurts out that the Emperor is wearing nothing at all and the cry is taken up by others. The Emperor cringes, suspecting the assertion is true, but holds himself up proudly and continues the procession
 
 
0 # Scott479 2011-08-28 04:46
It should read: "Dirty Obama Sides with Banksters"
 

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