@17jjskater i agree, but TYT want more of the problem to fix the problem, they see it not as the power that is wrong, but the implementation that is wrong.
Cenk is creating a story out of nothing. At 0:09 he says "On July 21st of 2008, everybody is worried about Freddie Mack and Fannie May, are they going to go under..they've already lost a tremendous amount of money".
So, saying that Paulson is worrying about it in his meeting with the Wall St. people is not "insider information". The whole damn country was worrying about it INCLUDING the Wall St!
Paulson wasn't telling them anything they didn't already know, he was trying to find a solution.
That JP Morgan paid the NYPD $4.5 million for protection and Mayor Bloomberg calls the NYPD "his" 7th largest military force in the world should tell every American that Paulson and his buddies from Wall Street are ready to slaughter Americans to retain their hold on the nation's finances. If this isn't hostile occupation, what is?
Remember that day a couple of years ago where someone "mistakenly" hit "b" instead of "m" on a keyboard and so therefore "billion" was entered instead of "million". This caused a big problem for about 15 minutes on the stock market. I wonder what this was a cover up for?
Remember that day a couple of years ago where someone "mistakenly" hit "b" instead of "m" on a keyboard and so therefore "billion" was entered instead of "million". This caused a big problem for about 15 minutes on the stock market. I wonder what this was a cover up for?
Someone help me here...what was the phrase he used when begging for our money to bail out his friends. It was moral hazard, right? Fun, how he gets to preach moral hazard to the banks that he let fail and did deals on the down low to immorally fill his friends' pockets. Disgusting.
Hank Paulson is a crook, no question asked, but it's not the fault of the 'hedge funds' traders that Fannie Mae and Freddy mac went under, and that politicians decided to stick the taxpayers with the tab, so that bonds holders (good campaign contributors) could cash in.
@mak62159 it's called a Derivative, an unrelated party is allowed to bet whether a stock will lower/rise; and a credit default swap is pretty much the same thing but with betting whether a company will default on its loan or not, even if you are completely unrelated; It's as if a buddy of yours took out a loan and you could bet the bank that he was going to default on it! If you are really interested you should wikipedia it
When the 12 of the "Supper Committee"new they were not going to come to an agreement, how many of them shorted their stocks to make a killing when the market found out the next day?
hilarious how jealous the dirty peasants are over the power of money. earn some of it yourself, or shut the fuck up and shine my shoes. know your place, and smile when you serve me.
hey OWS. are you going to say no to Jon Corzine because he screwed MF Global employees by collasping the company with bad bets on european debt - sigh- and then stealing customer money from their accounts and transfering them to the company's account to hide the fact he fucked up?
So, Paulson helped crashed the economy and he and his friends got rich while the American people were left holding the bag. Why isn't this SOB in jail? Or better yet 6 feet under?
@487shawn The 1% are turning EVERYTHING involving money into a ponzi scheme. Hell, you can't EAT without having the price of bread driven up by speculators.
@dangerouslytalented yes and even in ethiopia wall street thru goldman agriacola and blackstone have bought three trillion hectaires of land from the poorest countries buying out the politicians and hireing death squads by proxy to clear the land for growing food for china and the west! no wonder jesus made greed a deadly sin!
Hank Paulson wasn't really that bad, compared to MANY in this whole process.
The people who are really pissing me off these days are the people who are anti-OWS... It's like being pro-rape. "I think every man should be a rapist, and every woman should be raped. And some of the other men, too."
OWS, for as goofy and dumb as they look sometimes, are fighting for the most LOGICAL things in the world. If you're one of these nimrods in this "I'm the 53%" parody meme, go fuck yourself.
@Friedstuffsable - Part of the reason I hate this motherfucker so much is because he and Bush orchestrated the majority of the Housing & Credit Bubble yet they escaped most blame for the crisis. Somehow in the public mind it became all the Democrats and the CRA loans' fault. Private bankers, Hank Paulson and George W. Bush and his "Zero Down Payment Act" made out like felons. Like Teflon nothing stuck.
@A86 I hate the look on Paulson's face when he gets a tough question. He seriously thinks in his own mind there is nothing wrong with what he did & is doing. He gets so flustered as to why anyone would accuse him of being the money hoarding, money stealing swindler that he is. The lack of humility is disgusting. People are homeless because of this guy & his algorithms.
@hamrite Hanged, Drawn, Quartered, The Punishment for treason. Which if King Henry the VIII caught someone taking funds from the state to give to himself & his cronies that is exactly what would have happened to them.
Ron Paul knew this would happen and he told people about in in 2003.
It's only a matter of time until our Govenrments fucks everybody's quality of life up, leave it to the people return the money to the middle class not wealthy insiding traders.
Fuck the Liberals, Democrats, Conservative, and Republicans!
@ConcealedTruism Our quality of life is going downhill regardless of whatever the Government does. LOL. Nobody has realized this yet, but our standard of living in the United States was finished 6 years ago.
are you kidding? First of all, an occupy movement has been in DC for weeks now. Secondly, the bailouts are an action of the Fed, and the protesters are there because of the bailouts, visa vie they are protesting the Fed.
I dont understand how the american justice system hasnt locked up 99% of Goldman sac staff, it seems like every other day theres another story of how GS has screwed the system to earn another buck, yet there never seems to be any perp walking going on?
Fuck Paulson the senate bill and NDAA should be covered by TYT it more important than who stole money it literally reads like a Hitler/Nazi Germany mandate.
Most Americans didn't even know about this, the fact they bring this up later is a valuable reminder of the inequality and fraud that is this country.
let the crash happen. destroy the value of the american dollar, destroy the value of the euro, destroy the value of all of the money everywhere and start over. this will erase all debt, this will erase all savings, this will erase all non-real property. this will fix the situation, as no country can afford to not be interdependent with other nations. but we all cannot afford to continue siphoning our economies into the hands of a few assholes manipulating the whole thing.
Agreed, but he hamstrung at least one as well and any in the biz that had ethics. As much as I hate the elite and bankers, I can't believe at least one out there doesn't have some modicum. It's inexcusable what Paulson did; it should be a crime. Shorts and arbitrage are crocodile tear games to begin with in what is irrefutably a troubled sector, so I won't shed a tear for most of them. That said, Paulson screwed the pooch in an environment conducive to making the worse worse.
According to the proffesors "hes not introuble, cause he didnt trade, he just informed his buddies about it". THATS A MIDDLE MAN. Just like a guy who introduces an assassin to someone that wants somebody dead or introducing a herione dealer to a drug addict with money. This is part of our overall problem.POLITICS ARE CORRUPT & EVERY POLITICIAN HAS BLOOD ON THEIR HANDS! If they cant charge him, then they need to remove him. Anthony Wiener was taken down for less. Dick pics dont hurt the economy
A long time ago bankers where executed for financial fraud. Today, China executes bankers for fraud, to promote solvency in their system. America must revisit this option to let these banksters know what will happen if they fuck with the people!
Henry Paulson is TRULY Sarah Palin's DICKLESS and BALLESS BITCH and PUSSY! Palin is VASTLY SUPERIOR to this ass-clown in every single way! Palin has SUPERIOR economic credentials and she WILL EXPOSE his PUSSY for the whole world to see! The recession would NEVER happen if Palin is POTUS instead of Dubya and Obozo!
@CaptainRidley unfortunately people who decide if he is going to prison, people who bring him to prison after it is decided he should go, and the prison, all run on his side and his side's money
Henry Paulson, another member of the George Bush war criminal cabinet but this time guilty for propelling the global financial crisis that has devastated the livelihoods of millions worldwide.
More importantly - the US senate passed a bill for the military can detain anyone, including Americans, without due process - just a snatch and go and you'll never see these people again.
isnt that insider trading at the highest level. if that hf trader rajaratnam got jail time what shold happen to hank - pay hundred millions in fines, treason and hanging - eaton park is run by ex-GS MD.
@ssuuppeerrbbooyy ....yes it does, but he only seems concerned with using his power to shut down medical marijuana clinics in states where it is legal.
I swear to god we've already seen this exact clip before... except this is the new studio, so it's giving me this disjointed sense of deja vu. And I'm not talking about, I remember seeing some related/similar story - I'm getting the feeling that I saw Cenk rattle off the exact story a couple of weeks ago.
Thank god that we have President Obama in office and him along with his outstanding attorney general eric holder will be all over this, putting the bad guys in jail and getting justice for the american people!! Oh wait...... FUCK!!!
@dangerouslytalented What things that these agencies do? Like creating regulations that are specifically designed to prevent competition and provide special interests with special privileges?
Nobody could do those things if it weren't for these agencies, so you are right: nobody should be allowed to do the things that these agencies do.
These agencies shouldn't be allowed to do things that they do.
@romanmir01 There are very few regulations out there that are specifically there to eliminate competition. You are talking out of your ass again.
You think that the planes would magically know exactly where to go without the FAA? No, what would happen, is that whoever the biggest airline is would own their own air traffic control and use it to crowd out the rest of the airlines, keeping them out.Either one airline or a cartel. Corruption is ENDEMIC in American business.
@dangerouslytalented Every single regulation exists to prevent some form of competition and to provide some form of advantage related to special interests. Every single one. Even the most "well intentioned" regulations in reality end up doing that (probably more often on purpose than not).
It's not about any intentions, it's about the real outcome.
@isaacBrockofthe41 All regulations are aimed at helping special interests, there is nothing that is done to 'help people', and even things that are legitimately STARTED to 'help people' end up with the consequences that are always 'unexpected' (though, come on, anybody with more than 2 brain cells can tell you what the real consequence of any regulation will be).
Give me a regulation, throw it at me, I'll tell you immediately how it will help some and hurt others in 'unexpected' manner.
@romanmir01 'The only real regulations that actually work come out of the market deciding what it wants to reward and what it wants to punish.' - republican and atheist, tough mixture.
@romanmir01 Here is something you overlooked: Most of the time, those "special interests" don't want people being poisoned, don't want planes crashing, don't want pollution, don't want traffic to be snarled up, don't want massive stock market collapses, etc. So they DESIGN the regulations to PREVENT THOSE THINGS. The unexpected results are normally negligable compared to the intended effect.
@isaacBrockofthe41 The only real regulations that actually work come out of the market deciding what it wants to reward and what it wants to punish.
Every regulation that government has ever created ends up doing something either opposite of the intended consequence or some other type of collateral damage.
Expecting a stable society/economy while constantly changing the rules of the game with gov't laws is like expecting life to appear in a Universe with fundamental laws changing every year.
@romanmir01 So all the road laws and all the antipollution legislation and all the laws which prevent people putting strychnine in the meat and all the laws to stop people flying in unsafe aircraft and all the laws that were in place before the 80s that stopped banks from robbing us blind and all the laws that stop christians from preaching the bible as science and all the regulations that make sure you transmit power only at a certain number of volts... All to eliminate competition?
@dangerouslytalented The intent may not be to eliminate competition, but the effect is. You don't need to make laws that directly do things like that, all you need are laws protecting property and against fraud.
@dangerouslytalented Antipollution legislation? The US government is the world's greatest polluter. You think private roads wouldn't have rules? "Laws before the 80s that stopped banks from robbing us blind"? Have you heard of the Federal Reserve Act, probably the most thieving law there ever was. It's not hard to see that legislation reduces competition and increases prices. Compare prices in a heavily regulated industry like health/medicine and a less regulated industry like electronics.
you've said nothing there. are you saying 'polution laws don't work well enough, get rid of them!' or 'they're not good enough, improve them!'? though i feel the second is true, i'm sensing you made the first point. a stance which you don't give any arguments for. same goes for your federal banks point, you can't counter an argument by giving one single example!
regulation increase prices, but(should)prevent being ripped-off
@dangerouslytalented well the definition of competition in a free market economy:
After a few horrid disasters, the American people would then decide to use what services to use (airplanes, roads, food products) and what NOT to use for themselves. The free market will then help decide overall the best private company products without having the government regulating what can and cannot be done. Prices can be reduced by private companies in order to bring in more customers with quality product
@kmelfina Your argument fails when the market consists of only a few players. Without regulation, these companies are free to use whatever mean they choose to maintain their dominance.
The other place that this argument fails is when companies can externalize costs (e.g. power plants contaminating the environment). Again, although it increases costs, regulation is the only way to force a company to be responsible for damages they cause.
Lastly, quality is less important than cost (Walmart) .
@jufulu "responsible for damages they cause". Like the ones that caused the housing crisis? Not in jail unfortunately, and with our horrid gov't allowing 'em to roam free I don't think increasing the power hoping one day corruption would fix itself up.
@kmelfina You are quite correct that there is a lack of accountability for the housing crisis which calls for improved regulation and enforcement.The reason for the melt down was because they were able to parley other people's resources into personal profit while externalizing costs and consequences to others.The only way that they are going to stop is to return the risk back to them.That will only occur if they are forced through legislation and/or regulation. Or, you can sue them, gl w/ that.
@jufulu if legislators are bought off, then yeah good luck with getting consequences done x_x;
Unless justices actually do their jobs and bring 'em to court, since according to Rick Perry (I think) "Corporations are people" and thus are held by the same laws by people.
Execute these fuckers for treason! Skin them alive and print special currency on their hides. Do this until they pay us back with interest. (I do not support lawless violence. Pass a law or a ruling first.)
@aaronpolitical wrong.. they did something illegal, they should be on the hook for it, plain and simple. Do you think any 'regular' people would be able to get out of something they did just because some time has passed? No.. so why should they? do you think they would do it again since they got away with it once? of course! do you think it would happen less if other hedge fund managers saw that these guys were being prosecuted? I would say yes.
@scp443 I was being facetious, I'm right with you. Sadly, though, it looks as though this was NOT illegal. Just highly immoral. Not that a banker cares about that!
@aaronpolitical lol.. i though you were being serious.. my bad.. I'm pretty sure what the bankers did was illegal though. no? i mean, i know paulson was ok because he didn't do any trading but those other guys.. im pretty sure making trades on insider information is illegal, but i'm def not an expert.
@scp443 Oh, you might be right about the bankers. But then again, insider trading is usually a crime for both the informer and the one who acts on the information, right? So if this isn't a crime for the informer, it's probably not technically insider trading?
I'm still trying to understand how this is news to anyone?
...and what does the 99% vs 1% have to do with this?
This is a story purely about govt bureaucrats manipulate the economy, and how they are completely protected from accountability or consequence, because it is they themselves who are responsible for holding people accountable.
If someone gives you actionable information they should not have, so you will not lose money, or will make money illegally, how are they not accountable for that?
@izaccy Really, how? From my understanding of the story Paulson, a bureaucrat volunteered this information. Nobody asked him for it. In fact one of these 'evil' 1%'ers even went so far as to contact his lawyer to ascertain the legality of using such unsolicited information.
So according to you OWS is about the govt giving unsolicited info to industry insiders, enticing them to engage in illegal activity. Is that right?
Then perhaps you should direct your ire at the originator, aka the govt.
@UtubeMyAccountName Hank Paulson is far from a bureaucrat his a Goldman Sachs employee, disguised as a Bureaucrat loyal to Wall Street just like the rest of the politicians crooks none of them work for the American people. they work for Wall Street.
@izaccy No, that's where too many people stubbornly get it wrong.
Paulson is not, nor are the rest of them loyal to Wall Street. They bureaucrats/politicians are loyal only to their own power & position. If you could offer them more than Wall Street they would happily do your bidding instead of theirs.
Wall Street is no different than anybody else who attempts to buy the favor of the political class, except they are better at it. They do not work for Wall Street, they work for themselves.
Legally you own Freddy Mac and Fannie Mae. Without you, they would be dead in the water, gone, bankrupt.
If i were you I'd just go there with a bunch of people and ask them nicely for your money back. A share of recently made profits, so to speak. It'd only be fair and they have no actual arguments against that that make any sense.
Sucks that they can do this to us. Hard working 10-12 hour days and these guys sit back Raking in all the dough!
zodiam1 3 weeks ago
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Friedstuffsable 2 months ago
Less Government, Its that simple
17jjskater 2 months ago
@17jjskater i agree, but TYT want more of the problem to fix the problem, they see it not as the power that is wrong, but the implementation that is wrong.
surrealnumber 1 month ago in playlist More videos from TheYoungTurks
@surrealnumber *wants
fleammm 3 weeks ago
@17jjskater
Give it all over to Paulson, and his cronies, right? Moron...
deetjay1 3 days ago in playlist Wall Street Greed
Cenk is creating a story out of nothing. At 0:09 he says "On July 21st of 2008, everybody is worried about Freddie Mack and Fannie May, are they going to go under..they've already lost a tremendous amount of money".
So, saying that Paulson is worrying about it in his meeting with the Wall St. people is not "insider information". The whole damn country was worrying about it INCLUDING the Wall St!
Paulson wasn't telling them anything they didn't already know, he was trying to find a solution.
gilbet 3 months ago
We all know the government is going to shut down the press and internet....right?
weidnerlaw 3 months ago
Satan's Banker.
weidnerlaw 3 months ago
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Enemy of Greece, Ireland,Italy,Spain & USA - Jew
1.Goldman Sachs CEO, Lyold Blankfein- Jew
2.IMF Deputy CEO, John Lisky-Jew
3.Ex IMF CEO,Dominic Strauss-Jew
4.World Bank CEO,Robert Zoellick-Jew
5.Ex World Bank CEO, James Woolfesen-Jew
6.Fed Chairman, Ben Bernanke-Jew
7.Ex Fed Chairman, Alan Greenspan-Jew
8.Obama Treasury Secretary, Tim Geithner-Jew
9.George Bush Treasury Secretary, Hank Paulson-Jew
Stevie68000 3 months ago
Guillotine. This guy needs to be removed from the face of the earth!
gorky007 3 months ago
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Jew & Subprime Mortgages :
1. In 1998, Brooklsey Borne ( white woman ) wanted to regulate the subprime mortgages.
2. She was Chairman of Commodity & Future Trading Commision.
3. 5 Jews fought her.
Jew : - Alan Greenspan, Robert Rubin, Larry Summers, Arthur Levitt, Timothy Geithner
5. In 2008 ( 10 years later ), these subprime mortgages exploded & thousands of Americans were homeless
6. Watch PBS youtube video " The Warning ".
7. Congress testimony included.
Stevie68000 3 months ago
That JP Morgan paid the NYPD $4.5 million for protection and Mayor Bloomberg calls the NYPD "his" 7th largest military force in the world should tell every American that Paulson and his buddies from Wall Street are ready to slaughter Americans to retain their hold on the nation's finances. If this isn't hostile occupation, what is?
Agblat 3 months ago
Why isn't Paulson arrested and tried? That is a serious offense!
demonstrationclass8 3 months ago 8
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"The Banker"
A music video by The Blue Plates
youtube.com/watch?v=1CfXy3mkTeI
TheBluePlates 3 months ago
how the hell is he not in prison./...
swedishfish2 3 months ago 3
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Enemy of Greece, Ireland,Italy,Spain & USA - Jew
1.Goldman Sachs CEO, Lyold Blankfein-Jew
2.IMF Deputy CEO, John Lisky -Jew
3.Ex IMF CEO, Dominic Strauss- Jew
4.World Bank CEO, Robert Zoellick-Jew
5.Ex World Bank CEO, James Woolfesen-Jew
6.Fed Chairman, Ben Bernanke-Jew
7.Ex Fed Chairman, Alan Greenspan-Jew
8.Obama Treasury Secretary, Tim Geithner-Jew
9.George Bush Treasury Secretary, Hank Paulson-Jew
Stevie68000 3 months ago
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Remember that day a couple of years ago where someone "mistakenly" hit "b" instead of "m" on a keyboard and so therefore "billion" was entered instead of "million". This caused a big problem for about 15 minutes on the stock market. I wonder what this was a cover up for?
SuperToughnut 3 months ago
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Remember that day a couple of years ago where someone "mistakenly" hit "b" instead of "m" on a keyboard and so therefore "billion" was entered instead of "million". This caused a big problem for about 15 minutes on the stock market. I wonder what this was a cover up for?
SuperToughnut 3 months ago
Someone help me here...what was the phrase he used when begging for our money to bail out his friends. It was moral hazard, right? Fun, how he gets to preach moral hazard to the banks that he let fail and did deals on the down low to immorally fill his friends' pockets. Disgusting.
Bullshotinbutt 3 months ago
Hank Paulson is a crook, no question asked, but it's not the fault of the 'hedge funds' traders that Fannie Mae and Freddy mac went under, and that politicians decided to stick the taxpayers with the tab, so that bonds holders (good campaign contributors) could cash in.
marekknowak 3 months ago
In China where GDP is 9% they SHOOT people for doing that,,, America ur fucked
invaliduser1000 3 months ago 3
i keep hearing about how these crooks bet against the stocks. what the fuck does that mean? anyone know?
mak62159 3 months ago
@mak62159 Basically they are betting money that the stock/company will either fail or lose value.
ChandlerN 3 months ago in playlist Uploaded videos
@mak62159 it's called a Derivative, an unrelated party is allowed to bet whether a stock will lower/rise; and a credit default swap is pretty much the same thing but with betting whether a company will default on its loan or not, even if you are completely unrelated; It's as if a buddy of yours took out a loan and you could bet the bank that he was going to default on it! If you are really interested you should wikipedia it
rsty614 3 months ago
lol this is news? how is this surprising? did anyone really think this wasnt going on?
mazgru 3 months ago
I get infuriated whenever i hear Paulson's name.i hope he rots in hell
strangekid06 3 months ago
When the 12 of the "Supper Committee"new they were not going to come to an agreement, how many of them shorted their stocks to make a killing when the market found out the next day?
zappp111 3 months ago
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Does Obama know about this?
rbauer1632 3 months ago
Remember, Paulson wanted the one page letter that completely absolved him of any liability, investigation or prosecution.....
weidnerlaw 3 months ago
Pigs at the animal farm
way2jaded1 3 months ago 3
Fannie and Freddie are Government Sponsored company what do you expect
soccer92489 3 months ago
hilarious how jealous the dirty peasants are over the power of money. earn some of it yourself, or shut the fuck up and shine my shoes. know your place, and smile when you serve me.
xjaskix 3 months ago
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hey OWS. are you going to say no to Jon Corzine because he screwed MF Global employees by collasping the company with bad bets on european debt - sigh- and then stealing customer money from their accounts and transfering them to the company's account to hide the fact he fucked up?
fabes0011 3 months ago in playlist More videos from TheYoungTurks
So, Paulson helped crashed the economy and he and his friends got rich while the American people were left holding the bag. Why isn't this SOB in jail? Or better yet 6 feet under?
samk2785 3 months ago
they ALL.... will die comfortably and without need. all we can do is make sure they know what their legacy will be.
MpowerdAPE 3 months ago
No, wait, we have to make sure that all the Martha Stewarts of the world go to jail first. It's the American way.
GreatBigBore 3 months ago
"The Banker"
by The Blue Plates
youtube.com/watch?v=1CfXy3mkTeI
TheBluePlates 3 months ago
What is up with Cenk's forehead.
Moionfire 3 months ago in playlist More videos from TheYoungTurks
Why aren't you guys reporting on MF Global and Corzine?
wordlyfe 3 months ago in playlist More videos from TheYoungTurks
What about that smug turd Geitner? Put him in jail ... NOW.
CATSASS1117 3 months ago
Over 5000 ows protesters have been arrested. How many of these guys again?
halfzombiehalfrobot 3 months ago
Are these the job creators?
clausewitzmoltke 3 months ago
how is this not actionable, if not treasonous?
StarTrekLivz 3 months ago
the more you find out the more the statement is true that the stock market is a ponzy scheme!!
487shawn 3 months ago
@487shawn The 1% are turning EVERYTHING involving money into a ponzi scheme. Hell, you can't EAT without having the price of bread driven up by speculators.
dangerouslytalented 3 months ago
@dangerouslytalented yes and even in ethiopia wall street thru goldman agriacola and blackstone have bought three trillion hectaires of land from the poorest countries buying out the politicians and hireing death squads by proxy to clear the land for growing food for china and the west! no wonder jesus made greed a deadly sin!
487shawn 3 months ago
Hank Paulson should be in jail for this, and Barney Frank owes taxpayers alot of money for LYING about the stability at Fannie Mae and Freddie Mac.
ThePepper67 3 months ago
Hank Paulson wasn't really that bad, compared to MANY in this whole process.
The people who are really pissing me off these days are the people who are anti-OWS... It's like being pro-rape. "I think every man should be a rapist, and every woman should be raped. And some of the other men, too."
OWS, for as goofy and dumb as they look sometimes, are fighting for the most LOGICAL things in the world. If you're one of these nimrods in this "I'm the 53%" parody meme, go fuck yourself.
dEdGrimley 3 months ago
What a classic reverse Robin Hood...
SempeVeritas 3 months ago
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Friedstuffsable 3 months ago 86
@Friedstuffsable - Part of the reason I hate this motherfucker so much is because he and Bush orchestrated the majority of the Housing & Credit Bubble yet they escaped most blame for the crisis. Somehow in the public mind it became all the Democrats and the CRA loans' fault. Private bankers, Hank Paulson and George W. Bush and his "Zero Down Payment Act" made out like felons. Like Teflon nothing stuck.
A86 3 months ago in playlist More videos from TheYoungTurks 4
@A86 I hate the look on Paulson's face when he gets a tough question. He seriously thinks in his own mind there is nothing wrong with what he did & is doing. He gets so flustered as to why anyone would accuse him of being the money hoarding, money stealing swindler that he is. The lack of humility is disgusting. People are homeless because of this guy & his algorithms.
Friedstuffsable 3 months ago 24
@Friedstuffsable In medieval times he would be burned alive, or stretched by four horses.
hamrite 3 months ago
@hamrite Hanged, Drawn, Quartered, The Punishment for treason. Which if King Henry the VIII caught someone taking funds from the state to give to himself & his cronies that is exactly what would have happened to them.
Friedstuffsable 3 months ago 7
Ron Paul knew this would happen and he told people about in in 2003.
It's only a matter of time until our Govenrments fucks everybody's quality of life up, leave it to the people return the money to the middle class not wealthy insiding traders.
Fuck the Liberals, Democrats, Conservative, and Republicans!
Ron Paul all the way!
ConcealedTruism 3 months ago
@ConcealedTruism Our quality of life is going downhill regardless of whatever the Government does. LOL. Nobody has realized this yet, but our standard of living in the United States was finished 6 years ago.
GoSuMonSteR 3 months ago
The FED has given 7 Trillion dollars to bailout Europian banks since 2008. Where are the OWS people to protest at the FED ?
MrSpencerport 3 months ago
@MrSpencerport
are you kidding? First of all, an occupy movement has been in DC for weeks now. Secondly, the bailouts are an action of the Fed, and the protesters are there because of the bailouts, visa vie they are protesting the Fed.
chronDiggity 3 months ago
@chronDiggity Can you tell me where on Youtube I can find the OWS protests at the FED video ?
MrSpencerport 3 months ago
@MrSpencerport
took me about 12 seconds, so you better appreciate me busting my ass to find you this:
watch?v=lvJjv9-5lLA
guy schooling people about the fed:
watch?v=NKqP6v_BoV4
chronDiggity 3 months ago
ahhh FUCK THE RICH, not like sports stars but the people, i say people im not sure, who make a fortune off other peoples misery. SCUM!
willbrownrally 3 months ago
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Lets kill them ALL
TommyTurntables1 3 months ago
HOW IS THIS NOT ILLEGAL????????????
irishmonkey640 3 months ago 56
@irishmonkey640
Who said it isn't?
bulbinking 3 months ago
Silly America!
TheFunkadelicFan 3 months ago
I dont understand how the american justice system hasnt locked up 99% of Goldman sac staff, it seems like every other day theres another story of how GS has screwed the system to earn another buck, yet there never seems to be any perp walking going on?
gihaification 3 months ago
Fuck Paulson the senate bill and NDAA should be covered by TYT it more important than who stole money it literally reads like a Hitler/Nazi Germany mandate.
random69ism 3 months ago
Most Americans didn't even know about this, the fact they bring this up later is a valuable reminder of the inequality and fraud that is this country.
Gtrplyr1 3 months ago
Everyone should also check out Senate Bill 1867 it goes hand in hand with the NDAA.
random69ism 3 months ago
Everyone needs to check out the National Defense Authorization Act...it makes the Patriot Act look Constitutional.
random69ism 3 months ago
Hand these mother fuckers over to the Taliban
gorrellp 3 months ago
@gorrellp they probably work together man.. would't make a difference.
Gtrplyr1 3 months ago
@Gtrplyr1 Bahahah your right... Sheeeeyit. Hand them over to the people of Mexico... Or the folk who suffered during hurricane Katrina!
gorrellp 3 months ago
@gorrellp now theres a fkn good idea!!! lol
Gtrplyr1 3 months ago
"This happened in the past... its time to move forward and forget what happened in the past ..." LOL
These corporate idiots need to be put in prison and their wealth given back to the people !!!
OppressedAnarchist 3 months ago
let the crash happen. destroy the value of the american dollar, destroy the value of the euro, destroy the value of all of the money everywhere and start over. this will erase all debt, this will erase all savings, this will erase all non-real property. this will fix the situation, as no country can afford to not be interdependent with other nations. but we all cannot afford to continue siphoning our economies into the hands of a few assholes manipulating the whole thing.
greycloud24 3 months ago
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dbz07 3 months ago
Agreed, but he hamstrung at least one as well and any in the biz that had ethics. As much as I hate the elite and bankers, I can't believe at least one out there doesn't have some modicum. It's inexcusable what Paulson did; it should be a crime. Shorts and arbitrage are crocodile tear games to begin with in what is irrefutably a troubled sector, so I won't shed a tear for most of them. That said, Paulson screwed the pooch in an environment conducive to making the worse worse.
PawnBACM 3 months ago
William Black is not some ivory tower academic talking out of his ass - he was in charge of the whole Savings & Loan mess.
He knows what he is talking about and knows what regulators should and should not be doing.
Bankstercide 3 months ago
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I'm going to go out on a limb here and say that this Paulson guy is a real knucklehead.
ZuccottiPark 3 months ago
According to the proffesors "hes not introuble, cause he didnt trade, he just informed his buddies about it". THATS A MIDDLE MAN. Just like a guy who introduces an assassin to someone that wants somebody dead or introducing a herione dealer to a drug addict with money. This is part of our overall problem.POLITICS ARE CORRUPT & EVERY POLITICIAN HAS BLOOD ON THEIR HANDS! If they cant charge him, then they need to remove him. Anthony Wiener was taken down for less. Dick pics dont hurt the economy
GENERALJOHNNYREBEL 3 months ago
It would suck if Goldman Sachs burned to the ground.....
I said IT WOULD SUCK IF GOLDMAN SACHS BURNED TO THE GROUND
daguzify 3 months ago
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@daguzify I'd be really sad if that happened. All those people would lose their jobs!
ZuccottiPark 3 months ago
A long time ago bankers where executed for financial fraud. Today, China executes bankers for fraud, to promote solvency in their system. America must revisit this option to let these banksters know what will happen if they fuck with the people!
dfg93353 3 months ago
Sweep out everyone and office and only hire independent acadamia professors.
biggydx 3 months ago
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Enemy of Greece, Ireland,Italy,Spain & USA - Jew
1.Goldman Sachs CEO, Lyold Blankfein-Jew
2.IMF Deputy CEO, John Lisky-Jew
3.Ex IMF CEO, Dominic Strauss- Jew
4.World Bank CEO, Robert Zoellick-Jew
5.Ex World Bank CEO, James Woolfesen-Jew
6.Fed Chairman, Ben Bernanke-Jew
7.Ex Fed Chairman, Alan Greenspan-Jew
8.Obama Treasury Secretary, Tim Geithner-Jew
9.George Bush Treasury Secretary, Hank Paulson-Jew
Stevie68000 3 months ago
They should be hanged !
baptsan 3 months ago
How much more corruption do we honestly need to see before Americans do something about it?
YourBrainOnReligion 3 months ago
@YourBrainOnReligion We'll get around to it, I'm sure.
ZuccottiPark 3 months ago
Damn.. I went to school, worked all my life & still can't catch up. I wish I wasn't poor.
MrMoodyHyadd 3 months ago in playlist More videos from TheYoungTurks
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Henry Paulson is TRULY Sarah Palin's DICKLESS and BALLESS BITCH and PUSSY! Palin is VASTLY SUPERIOR to this ass-clown in every single way! Palin has SUPERIOR economic credentials and she WILL EXPOSE his PUSSY for the whole world to see! The recession would NEVER happen if Palin is POTUS instead of Dubya and Obozo!
ecwaufisxtreme 3 months ago
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anothaview 3 months ago
Even if Paulson didn't trade on the insider info, that's still aiding and abetting isn't it?
ZachValkyrie 3 months ago
Hank Paulson should be in prison
CaptainRidley 3 months ago 76
@CaptainRidley unfortunately people who decide if he is going to prison, people who bring him to prison after it is decided he should go, and the prison, all run on his side and his side's money
ttzz2003 3 months ago
dont worry obama will will prosecute these criminals
trexx32 3 months ago
fucking jail time....corrupt mother F-er's Our government is so screwed....
jdetuncq 3 months ago
Paulson need to be in jail.
bamboo4tameshigiri 3 months ago
It's only insider trading when you aren't one of the inner ring of inside traders. But if you are, they call you the Government.
audadvnc 3 months ago 27
American corruption at its best.
ubertser 3 months ago 3
Henry Paulson, another member of the George Bush war criminal cabinet but this time guilty for propelling the global financial crisis that has devastated the livelihoods of millions worldwide.
underbjorn 3 months ago
Fun facts. My last name is Paulson. Werid world...
MacNille 3 months ago
Old news. Listen to tyt for your financial insights and your listening to yesterdays news.(just how they like it) Max Keizer . com
TheReallitycheck 3 months ago
THis fucker belongs in jail along with Bush and Cheney!
bobster451 3 months ago 2
More importantly - the US senate passed a bill for the military can detain anyone, including Americans, without due process - just a snatch and go and you'll never see these people again.
Now is the time to rise up against the machine!
ziger123456 3 months ago
why is the sound f***ed up?
zeus018 3 months ago
Isn't giving inside information illegal?
Tounushi 3 months ago
this is a god-dammed disgrace
rextrek 3 months ago
isnt that insider trading at the highest level. if that hf trader rajaratnam got jail time what shold happen to hank - pay hundred millions in fines, treason and hanging - eaton park is run by ex-GS MD.
rostant999 3 months ago
The worst thing about this stories is that americans will hear this and then carry on with their day
highnine9 3 months ago 4
@LTakaKAEL Ditto
Hafazeh 3 months ago
does this country have a prosecutor?
ssuuppeerrbbooyy 3 months ago
@ssuuppeerrbbooyy ....yes it does, but he only seems concerned with using his power to shut down medical marijuana clinics in states where it is legal.
peacewavenow 3 months ago 2
Time to start sharpening that guillotine...
perrin6 3 months ago
Hank Paulson works for the Bank’ ... who doesn't know that?
earlgray1947 3 months ago
Yet another Fannie Mae story where Cenk REFUSES to point the finger at Barney Frank.
RAMKING61 3 months ago
@RAMKING61
sorry you misunderstood... Cenk doesn't work for Faux Nooz.
dreamcoyote 3 months ago
I swear to god we've already seen this exact clip before... except this is the new studio, so it's giving me this disjointed sense of deja vu. And I'm not talking about, I remember seeing some related/similar story - I'm getting the feeling that I saw Cenk rattle off the exact story a couple of weeks ago.
mwoolner 3 months ago
@mwoolner The story was about a congressman, now retired, who did insider trading using the information he obtained through his committee position
Xaklyth 3 months ago
Thank god that we have President Obama in office and him along with his outstanding attorney general eric holder will be all over this, putting the bad guys in jail and getting justice for the american people!! Oh wait...... FUCK!!!
wistoncap 3 months ago
@smaakjeks got 'em!
mjconti 3 months ago
There are no rules for the rich. Sick.
dtm52 3 months ago
SEC, FED, IRS, FHA, FDA, Freddie / Fannie, HUD, FBI, CIA, EPA, FAA, FCC, dep't of energy, education, commerce, interior, DOJ, home land security, TSA, .....
Everything is set up so that you'll ALWAYS get the bill and a handful of people will ALWAYS come out on top.
Good luck with your ideology of making government bigger and all these 'regulations', that you think are there to help YOU. HA!
Good luck to you, suckers.l
romanmir01 3 months ago
@romanmir01 Bullshit. Private industry either cannot, will not, or should not be ALLOWED to do the things that the agencies you listed do.
dangerouslytalented 3 months ago
@dangerouslytalented What things that these agencies do? Like creating regulations that are specifically designed to prevent competition and provide special interests with special privileges?
Nobody could do those things if it weren't for these agencies, so you are right: nobody should be allowed to do the things that these agencies do.
These agencies shouldn't be allowed to do things that they do.
romanmir01 3 months ago
@romanmir01 There are very few regulations out there that are specifically there to eliminate competition. You are talking out of your ass again.
You think that the planes would magically know exactly where to go without the FAA? No, what would happen, is that whoever the biggest airline is would own their own air traffic control and use it to crowd out the rest of the airlines, keeping them out.Either one airline or a cartel. Corruption is ENDEMIC in American business.
dangerouslytalented 3 months ago
@dangerouslytalented Every single regulation exists to prevent some form of competition and to provide some form of advantage related to special interests. Every single one. Even the most "well intentioned" regulations in reality end up doing that (probably more often on purpose than not).
It's not about any intentions, it's about the real outcome.
romanmir01 3 months ago
@romanmir01 And regulations are bad because? Because it stops people from creating disaster or limits the power of people. This is bad?
isaacBrockofthe41 3 months ago
@isaacBrockofthe41 All regulations are aimed at helping special interests, there is nothing that is done to 'help people', and even things that are legitimately STARTED to 'help people' end up with the consequences that are always 'unexpected' (though, come on, anybody with more than 2 brain cells can tell you what the real consequence of any regulation will be).
Give me a regulation, throw it at me, I'll tell you immediately how it will help some and hurt others in 'unexpected' manner.
romanmir01 3 months ago
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@romanmir01 'The only real regulations that actually work come out of the market deciding what it wants to reward and what it wants to punish.' - republican and atheist, tough mixture.
realCevra 3 months ago
@romanmir01 Here is something you overlooked: Most of the time, those "special interests" don't want people being poisoned, don't want planes crashing, don't want pollution, don't want traffic to be snarled up, don't want massive stock market collapses, etc. So they DESIGN the regulations to PREVENT THOSE THINGS. The unexpected results are normally negligable compared to the intended effect.
dangerouslytalented 3 months ago
@isaacBrockofthe41 The only real regulations that actually work come out of the market deciding what it wants to reward and what it wants to punish.
Every regulation that government has ever created ends up doing something either opposite of the intended consequence or some other type of collateral damage.
Expecting a stable society/economy while constantly changing the rules of the game with gov't laws is like expecting life to appear in a Universe with fundamental laws changing every year.
romanmir01 3 months ago
@romanmir01 So all the road laws and all the antipollution legislation and all the laws which prevent people putting strychnine in the meat and all the laws to stop people flying in unsafe aircraft and all the laws that were in place before the 80s that stopped banks from robbing us blind and all the laws that stop christians from preaching the bible as science and all the regulations that make sure you transmit power only at a certain number of volts... All to eliminate competition?
dangerouslytalented 3 months ago 40
@dangerouslytalented The intent may not be to eliminate competition, but the effect is. You don't need to make laws that directly do things like that, all you need are laws protecting property and against fraud.
RKAddict101 3 months ago
@dangerouslytalented Antipollution legislation? The US government is the world's greatest polluter. You think private roads wouldn't have rules? "Laws before the 80s that stopped banks from robbing us blind"? Have you heard of the Federal Reserve Act, probably the most thieving law there ever was. It's not hard to see that legislation reduces competition and increases prices. Compare prices in a heavily regulated industry like health/medicine and a less regulated industry like electronics.
aerocabin 3 months ago
@aerocabin
"Antipollution legislation...world's greatest polluter. "
you've said nothing there. are you saying 'polution laws don't work well enough, get rid of them!' or 'they're not good enough, improve them!'? though i feel the second is true, i'm sensing you made the first point. a stance which you don't give any arguments for. same goes for your federal banks point, you can't counter an argument by giving one single example!
regulation increase prices, but(should)prevent being ripped-off
homerfromhelI 3 months ago
@dangerouslytalented well the definition of competition in a free market economy:
After a few horrid disasters, the American people would then decide to use what services to use (airplanes, roads, food products) and what NOT to use for themselves. The free market will then help decide overall the best private company products without having the government regulating what can and cannot be done. Prices can be reduced by private companies in order to bring in more customers with quality product
kmelfina 3 months ago
@kmelfina Your argument fails when the market consists of only a few players. Without regulation, these companies are free to use whatever mean they choose to maintain their dominance.
The other place that this argument fails is when companies can externalize costs (e.g. power plants contaminating the environment). Again, although it increases costs, regulation is the only way to force a company to be responsible for damages they cause.
Lastly, quality is less important than cost (Walmart) .
jufulu 3 months ago
@jufulu "responsible for damages they cause". Like the ones that caused the housing crisis? Not in jail unfortunately, and with our horrid gov't allowing 'em to roam free I don't think increasing the power hoping one day corruption would fix itself up.
kmelfina 3 months ago
@kmelfina You are quite correct that there is a lack of accountability for the housing crisis which calls for improved regulation and enforcement.The reason for the melt down was because they were able to parley other people's resources into personal profit while externalizing costs and consequences to others.The only way that they are going to stop is to return the risk back to them.That will only occur if they are forced through legislation and/or regulation. Or, you can sue them, gl w/ that.
jufulu 3 months ago
@jufulu if legislators are bought off, then yeah good luck with getting consequences done x_x;
Unless justices actually do their jobs and bring 'em to court, since according to Rick Perry (I think) "Corporations are people" and thus are held by the same laws by people.
kmelfina 3 months ago
@dangerouslytalented
i can't believe your comment has 38 thumbs up
chronDiggity 3 months ago
Execute these fuckers for treason! Skin them alive and print special currency on their hides. Do this until they pay us back with interest. (I do not support lawless violence. Pass a law or a ruling first.)
OgreMECH 3 months ago
I don't understand the relevance here. There is no point to flogging a dead horse.
I support OWS and every other social program in the US; But its too late people; OWS should have been in 2008 - not now.
Too late... I once thought the "Preppers" were nutcases.
Just goes to show how wrong a man can be.....
crocfme 3 months ago
Guys, guys, we're looking FORWARD, not back here...no prosecutions, no prosecutions...
aaronpolitical 3 months ago 36
@aaronpolitical You can't go forward until you execute your past war criminals and gangster bankers.
bamboo4tameshigiri 3 months ago
@bamboo4tameshigiri I was being facetious, I'm right with you.
aaronpolitical 3 months ago
@aaronpolitical I figured, but I had to get it out of my system.
bamboo4tameshigiri 3 months ago
@aaronpolitical wrong.. they did something illegal, they should be on the hook for it, plain and simple. Do you think any 'regular' people would be able to get out of something they did just because some time has passed? No.. so why should they? do you think they would do it again since they got away with it once? of course! do you think it would happen less if other hedge fund managers saw that these guys were being prosecuted? I would say yes.
scp443 3 months ago
@scp443 I was being facetious, I'm right with you. Sadly, though, it looks as though this was NOT illegal. Just highly immoral. Not that a banker cares about that!
aaronpolitical 3 months ago
@aaronpolitical lol.. i though you were being serious.. my bad.. I'm pretty sure what the bankers did was illegal though. no? i mean, i know paulson was ok because he didn't do any trading but those other guys.. im pretty sure making trades on insider information is illegal, but i'm def not an expert.
scp443 3 months ago
@scp443 Oh, you might be right about the bankers. But then again, insider trading is usually a crime for both the informer and the one who acts on the information, right? So if this isn't a crime for the informer, it's probably not technically insider trading?
aaronpolitical 3 months ago
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He needs to be in fucking prison.
kileer7 3 months ago
I'm still trying to understand how this is news to anyone?
...and what does the 99% vs 1% have to do with this?
This is a story purely about govt bureaucrats manipulate the economy, and how they are completely protected from accountability or consequence, because it is they themselves who are responsible for holding people accountable.
If someone gives you actionable information they should not have, so you will not lose money, or will make money illegally, how are they not accountable for that?
UtubeMyAccountName 3 months ago
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@UtubeMyAccountName
"I'm still trying to understand how this is news to anyone?"
Go to google, search for the following article from cracked (dot) com:
The 6 Stupidest Internet Reactions To Shocking News Stories
smaakjeks 3 months ago
@UtubeMyAccountName It has everything to do with the 99%
this is exactly what OCCUPY protesters is all about.
izaccy 3 months ago
@izaccy Really, how? From my understanding of the story Paulson, a bureaucrat volunteered this information. Nobody asked him for it. In fact one of these 'evil' 1%'ers even went so far as to contact his lawyer to ascertain the legality of using such unsolicited information.
So according to you OWS is about the govt giving unsolicited info to industry insiders, enticing them to engage in illegal activity. Is that right?
Then perhaps you should direct your ire at the originator, aka the govt.
UtubeMyAccountName 3 months ago
@UtubeMyAccountName Hank Paulson is far from a bureaucrat his a Goldman Sachs employee, disguised as a Bureaucrat loyal to Wall Street just like the rest of the politicians crooks none of them work for the American people. they work for Wall Street.
izaccy 3 months ago
@izaccy No, that's where too many people stubbornly get it wrong.
Paulson is not, nor are the rest of them loyal to Wall Street. They bureaucrats/politicians are loyal only to their own power & position. If you could offer them more than Wall Street they would happily do your bidding instead of theirs.
Wall Street is no different than anybody else who attempts to buy the favor of the political class, except they are better at it. They do not work for Wall Street, they work for themselves.
UtubeMyAccountName 3 months ago
I'm missing guillotines more and more
annata12 3 months ago 2
To all Americans,
Legally you own Freddy Mac and Fannie Mae. Without you, they would be dead in the water, gone, bankrupt.
If i were you I'd just go there with a bunch of people and ask them nicely for your money back. A share of recently made profits, so to speak. It'd only be fair and they have no actual arguments against that that make any sense.
All the best,
some guy
shittyfagg 3 months ago
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Enemy of Greece, Ireland,Italy,Spain & USA - Jew
1.Goldman Sachs CEO, Lyold Blankfein - Jew
2.IMF Deputy CEO, John Lisky - Jew
3.Ex IMF CEO, Dominic Strauss-Jew
4.World Bank CEO, Robert Zoellick-Jew
5.Ex World Bank CEO, James Woolfesen-Jew
6.Fed Chairman, Ben Bernanke-Jew
7.Ex Fed Chairman, Alan Greenspan-Jew
8.Obama Treasury Secretary, Tim Geithner-Jew
9.George Bush Treasury Secretary, Hank Paulson-Jew
Stevie68000 3 months ago
why is this guy so inconsistant?
Eddieee82 3 months ago
HANK PAULSON LOL
Eldwinn 3 months ago
why isn't this guy getting the same puishment as bernie madoff?
bernie23232323232323 3 months ago