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| Fifth Column |
| Amy Goodman (commie central): Who is Obama Playing Ball With? |
| 2009-08-29 |
| It looked like it was business as usual for President Barack Obama on the first day of his Marthaâs Vineyard vacation, as he spent five hours golfing with Robert Wolf, president of UBS Investment Bank and chairman and CEO of UBS Group Americas. Wolf, an early financial backer of Obamaâs presidential campaign, raised $250,000 for him back in 2006, and in February was appointed by the president to the White Houseâs Economic Recovery Advisory Board. Economic recovery for whom? Interestingly, Wolfâs appointment came in the same month that UBS agreed to pay the U.S. $780 million to settle civil and criminal charges related to helping people in the U.S. avoid taxes. Not to worry. UBS, an ailing bank with a pre-existing condition, had great insurance coverage. It was actually receiving $2.5 billion in a backdoor bailout from bailed-out insurance giant AIG. Sen. Olympia Snowe, R-Maine, said, âIt looks like weâre simply laundering this money through AIG.â UBS, this bank that shelters wealthy tax dodgers, was actually being bailed out by hardworking U.S. taxpayers. Last Friday, as Wolf was preparing for his golf game with Obama, UBS whistle-blower Bradley Birkenfeld was sentenced to 40 months in prison for facilitating offshore tax evasion through UBS banking schemes, despite assisting federal investigators in exposing the secretive bank. Above the entrance to UBSâs headquarters in Zurich is a bust of the Greek god Hermes â not only the fleet-footed messenger of the gods, but also the god of thieves and merchants. The symbolism is striking. Whether or not Wolf won his golf game against Obama, UBS has clearly scored a hole-in-one. |
| Posted by:3dc |
| #4 It's what politician you We're just confused with how representative government works. When it becomes a full time job with retirement benefits, it represents interests not the little people back in the district. |
| Posted by: Procopius2k 2009-08-29 10:13 |
| #3 Actually, that link understates the amount of US taxpayers' money that was transferred. It only accounts for $100 billion of the $180 billion AIG bailout (to March 2009). |
| Posted by: ed 2009-08-29 08:51 |
| #2 It was actually receiving $2.5 billion in a backdoor bailout from bailed-out insurance giant AIG. Double that. German and French banks got $36 billion from AIG Bailout UBS 5($billion) Switzerland Not to mention buying up assets at fire sale prices using funds given by indenturing future US taxpayers. No wonder Europe is recovering from the recession faster than the US. It's not what you know, make or sell anymore. It's what politician you know that is the key to riches. |
| Posted by: ed 2009-08-29 08:35 |
| #1 Getting some personal banking taken care of? It's the Chicago way. |
| Posted by: DMFD 2009-08-29 06:57 |