Let’s go back to the roots, because all this Tea stuff is, well, just another codeword for the Sarah Palin and Right Wing “steal it if it isn’t nailed down” nonsense that the Republicans have tried to run for the last several years.
After Bear Stearns a handful of people – all folks in some way associated with Tickerforum and The Market Ticker, along with FedUpUSA, started protesting.
On 4/28 we released this:
And held a protest in NY, on Wall Street:
And then there was a second protest – this one in Washington DC – July 31st, 2008:
That protest was held in front of the Canon Building, on and around “K” Street, and in front of The University Club where McCain’s campaign was holding a fundraising event – an event I purchased a ticket to attend.
Yes, they were small events. But people came from all over the nation, and the links are right here – browse away:
Does America want “Tea”?
No: America wants JUSTICE.
And we’re hearing nothing about justice.
Both political parties are equally-guilty in the rape of this nation’s citizens. You have been stripped to the bone. The evidence is right in front of you. 60 Minutes did a segment tonight on the true spectre of unemployment and underemployment – people going from $70,000 a year jobs to making $15 a day scrounging in trash cans.
That’s not a Depression?
Like hell it isn’t.
STOP LYING TO YOURSELF – AND YOUR NEIGHBORS.
All these “Fancy Schmancy Financial Products” – remember this quote?
“Our assessment at this point … is that this looks to be a very orderly and moderate kind of cooling,” Bernanke said.
“We’re not saying you shouldn’t make these loans. What we’re saying is that they be done the right way,” Bernanke told the banking conference.
What was Citibank’s Chief Underwriter saying at the same time?
“In mid-2006, I discovered that over 60 percent of these mortgages purchased and sold were defective,” Bowen testified on April 7 before the Financial Crisis Inquiry Commission created by Congress. “Defective mortgages increased during 2007 to over 80 percent of production.”
He also reported this up the chain to senior Management.
The Federal Reserve, and The Federal Reserve Bank of New York, are the primary regulators for these large banking institutions.
They – including Ben Bernanke personally – knew full well what was going on with “these loans” AND THEY LIED TO CONGRESS AND THE AMERICAN PEOPLE. WORSE, THEY’RE STILL LYING!
Let me be plain about this:
This entire mess – all of it – the entire housing bubble and subsequent collapse, along with the unemployment, poverty, privation and loss – occurred due to the intentional blindness and refusal to regulate by the people entrusted by YOU to keep your money, your credit, and our economy safe and sound.
Instead of doing their jobs they literally gave these financial institutions a license to rob you blind and then assault you from the rear for good measure.
These executives and the regulators knew full well what was going on. They were fully aware of the defective nature of these loans. They did nothing – on purpose – to stop it.
And now, more than three years into this mess, not only have they done nothing but neither political party has addressed the problem nor has there been one dollar of clawbacks or other forced recovery for the investors in this garbage paper, the one hundred million or more Americans who had their retirement and house values shredded, the 40 million on food stamps and the 20 million unemployed.
Every single one of these banks must be taken into receivership now. Every single one of these executives and each and every “regulator” who was either constructively or actually, as has been testified to under oath, aware of the fact that they were knowingly making and selling trash loans needs to be prosecuted for bank and wire fraud. Their fancy houses and boats need to be forfeited under civil asset forfeiture laws, just as yours would be if you bought them with proceeds of illicit activity.
THAT is what “The Tea Party” was originally about. It was what I was talking about in 2007, what FedUpUSA was talking about starting in the early part of 2008, and what we have been continually talking about since.
2300 Tickers later, originating in 2007 – all on one point – the financial fraud and scams and how they have and will impact you.
We have been right about both what happened and how it happened. We have been right about the fact that these clown-suited jackasses at The Fed and Treasury have lied to Congress and The American people, stripping you like chicken bones.
And now we have proof – not just in assertions and arithmetic – that it had to be this way, because there was no other possible explanation – but these assertions have now been confirmed by sworn testimony.
Since the “corporatists” took over the Tea Party, starting with their bullshit invasion funded by the Kochs and the Palin clan, there has not been one word from ANY of them about bank fraud, wire fraud, corporate executives, Federal Reserve Chairmen and Treasury Secretaries STEALING the wealth of Americans.
NOT ONE TIME HAVE YOU HEARD “STOP THE LOOTING AND START PROSECUTING” – OR ANYTHING THAT CAN BE REASONABLY CONSTRUED AS EXPRESSING THAT SENTIMENT.
Instead we are back to the same old crap that was run during the 2000 decade when Bush and Gore, and then Bush and Kerry were at it in their respective races: Guns, Gays and God. As I said before, I think those are great topics for political debate, but unless we have a sound economy, which we cannot obtain until the fraud is rooted out of the financial system, none of those other topics matter.
When you’re broke, homeless and hungry you don’t give a flying fuck whether the guy in the White House worships in a Christian Church or has a Pentacle on the floor of the Oval Office. Either way you’re gonna starve and that’s a wee bit more important at that instant in time.
Wake the hell up America!
You’re being lied to – just as you have been for the last ten years. Both political parties knew full well that the lending that was done in the 2000s was unsound. They knew because the bank executives knew it, the OCC knew it, and The Federal Reserve knew it. Both Democrats and Republicans have held both houses of Congress and The White House in the time from 2000 through today, and neither has done a damn thing about the fact that these assholes on Wall Street have literally stripped you to the bone and chewed off your appendages – and they will keep doing it, unless you stop them.
A spot of Tea?
Fuck the Tea.
I’m FedUp and I’m staying that way until someone in either major political party calls, in public, for an order for one thousand pairs of these, to be applied starting with the executives on Wall Street.