Obamascam

The Obama administration is engineering its new bailout initiatives in a way that it believes will allow firms benefiting from the programs to avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials.

...

The administration believes it can sidestep the rules because, in many cases, it has decided not to provide federal aid directly to financial companies, the sources said. Instead, the government has set up special entities that act as middlemen, channeling the bailout funds to the firms and, via this two-step process, stripping away the requirement that the restrictions be imposed, according to officials.

I don't understand why the Loon Brigade is upset with Obama's policies. He's "redistributing" wealth to the already very wealthy financial types. Conservatives should love him for that.

And again.. this is not unusual. The brazenness of it is.. The objective of everything that happens economically is to make already wealthy people even more wealthy. They control everything.. and they really don't give a shit if the general public finds out what has been going on.

I'm starting to think that it would be best if the economy completely implodes.. to 50% unemployment levels.. which would facilitate a second American revolution.

Not going to happen, of course, they'll make sure we have just enough to keep everyone from going berserk, but one can dream.

WASHINGTON – Lawrence Summers, President Barack Obama's top economic adviser, earned millions over the past year as managing director of the hedge fund D.E. Shaw Group and through speaking fees, some from financial institutions now at the center of the government's rescue program.

Financial disclosure reports released by the White House show that Summers received $5.2 million from D.E. Shaw. He also reported payments for appearances before institutions such as J.P. Morgan, Citigroup, Goldman Sachs and Lehman Brothers.

uhhh.. .duh