True News 26: AIG, Madoff and Thrown Shoes

[genghisdon1]

Bush is, of course, a war criminal & you are spot on at the end at least.

[genghisdon1]

Madoff deserves worse than he got...I wish you weren't blinded by your state hate. You (rightly) blast the state for a ponzi scheme, but if an "entrepeneur" does it, well he isn't nearly as bad. Falwless logic LOL

[genghisdon1]

ugh! defending AIG? really Stef? Pathetic

[PsyogiBottoms]

In support of my earlier point, "The former top executive of American International Group Inc. plundered an AIG retirement program of billions of dollars because he was angry at being forced out of the company, a lawyer for AIG told jurors Monday at the start of a civil trial.

Attorney Theodore Wells told the jury in Manhattan that former AIG Chief Executive Officer Maurice "Hank" Greenberg improperly took $4.3 billion in stock from the company in 2005."

They were crooks to begin with.

[PsyogiBottoms]

Is it ethical or just to honor contracts made by thieves and liars? Just because these CEOs could amass huge profits by using bait and switch, cooked books or fraudulent means - are they still entitled after their company has been looted by its crew to demand the victims of this criminal act reward them, because there isn't any cash left in the coffers?

This is, IMHO, the same as rewarding Bush for Genocide - he did his job for the Oligarchy should he not be rewarded as well?

They are not naive.

[PsyogiBottoms]

I understand your argument, however as someone that has repeated been the victim of interest gouging (having contracted agreements for 3% hiked to 29% overnight for no reason but profit) as many US citizens, we feel these profits and performance bonuses were obtained under unethical, immoral extortion by these Experts in finance.

It is like being forced to give bonuses to the pirates that raped you and your family. I knew 29% interest would collapse the economy - you are telling me they did not

[PsyogiBottoms]

Steph - a couple of points of contention here.

Is it not possible that these 'employees' receiving bonuses were in full knowledge that the profits they were garnering were in fact part of an inside scam they knew was falsely propped up by creative bookkeeping and the outrage stems from the exposure of their contribution to this scam? An what CEO looks to the government for economic or financial analysis? Surely these Top Execs could plainly see they were raping the economy - that's a bit naive

[omikron23]

part 2: I guess EU-taxpayers weren't stupid enough to bail out their own banks, so the Freemasonic Luciferan oligarchs just drew the money from the pockets of the naive US-public. Watch: 'The Money Masters - How International Bankers Gained Control of America' on Google Video.

[omikron23]

part 1: Did you know that a large part of the bailout-money went to banks in France and Germany, such as the Deutsche Bank and Sogenal in France. Strange isn't it? Ah, what a blessing it is to be a Freemason. US-taxpayers bailing out banks in Europe. Isn't globalization a great thing? - As long as you're rich and wealthy.

[briano8713]

How bout a true news on those "tea-parties"? Too late? ;)

[sonofagunM357]

thanks for ruining my day thats why i only watch you once a week

[combatleague]

haha. im hooked i watch em everyday, i feel liberated by his reason and then dumped back into the filth of humanity as soon as the videos over, so like an alchoholic, or a crack fein, i come often to feel doped up on anarchy and objective morality

[Philantrops]

I couldn't agree more about the shoe throwing man. But in Iraq Cheney said everything worked out just as planned.

[LukeCoulson]

Dear StefBot

I think I may be forgiven for saying, "fuck the economy stupid"

Here's a good (U.K. Gov.) quote, "My Right Honourable Friend", or "We are looking into it" or how bout, "I have done nothing ilegal". Take the fuckers out and shoot them. No wait last time I said that a whole bunch of people got shot. Try this. Do Nothing. Do it now. Pass the soap please.

Yours Unwittingly,

Lucian Coulson.

[mikeybrumbrum]

If the working class refuse to take part in this vile system (and i believe we may, if this continues), the middle class will have a choice:

They can support the rulers, and then commit their own children to clean the streets, and mend the roads (cus we wont be dong it, I can tell you).

Or they can help us to change that system, forever.

The middle classes will be affected least, since we want everyone to be "middle class".

So choose your sides, boys. and rememebr wher you came form.

[fucitorfiteit]

stefan there is something on your mind other than the point your making. i can tell or im slipping. but please hit the points like you did when you first started making these videoes cuz im right there with you on some level. YOU CAN HIT HARDER THAN THAT!!!!

[stefbot]

go on?

[spires12]

These bonuses are not attracting 'talent'. These financial wizards are the same idiots who helped bring about this mess. The same republicans who whine about not interfering with these bonus contracts were forcing the UAW to 're-negotiate' their union contracts during the auto bailouts. Seems like some contracts are more equal to others in the land of vulgar libertarianism.

[briano8713]

Your right, only a "vulgar" libertarian indeed would advocate the abrogation of UAW labor-contracts and not AIG labor-contracts. True libertarians would oppose the government intervention that makes any "re-negotiations" possible, however.

[kingofthebrittains]

Sadly, every dollar in existence is a "labor contract" -but we are the collateral in the deal, not an interested party in the contract. Regardless of government actions, Monetary Systems can never be fair as they will always be controlled by the few (Uber Rich). Even a truly free market is not a fair market. You only have the freedom and rights your purchasing power allows. There are 1000's more problems with it too. Google "Zeitgeist Addendum" for more on this.

[cat1012000]

We've long lived in a country where spin doctors say "wonderful", when actuality it's awful. Look at our schools - govmt ran - see how the spin has worked? Our moral compass broken, our young "brainwashed" by fed propaganda into unquestioning drones. The press drives the public yearnings for high wages, not realizing that those 1M wages were bilked from their pockets in the form of forced taxes and usurious interest rates. We have two things to fear - big government and big corporations.

[zardozcs]

Hi Stef, thanks for your clarification on genocide. You are listening it seems. That's a cut above some other vid makers on YT.

[CarryANation]

The main problem with libertarians is they misunderstand who the government actually is. Congress is owned by the Capitalists, and the force and fraud of the state is directed *for* the rich.

But libertarians refuse to see this, because they are too busy idolizing the rich and hating the poor.

Don't know if this guy fits that description, but too many libertarians do.

[zardozcs]

What CarryANation misunderstands is that a Capitlaist (a real one, not government lobbying ones) wouldn't ask anything from the government. A capitalist knows the government can only do him harm. True capitalists want a separation of state from economy. Captialists want a clause in the constitution amounting to: Congress shall pass no law which interferes with the free market and the unlimited right to voluntary private contract.

[CarryANation]

zardozcs, yes, I am familiar with the No True Scotsman fallacy.

In the real world, it is the Capitalists - whether they are pure enough for you or not is irrelevant - that control our government, and the media.

[wetalmorker]

I don't know you, and I don't know Carrie Nation (pun intended). But if your argument is that capitalism has failed, I disagree. The system that has failed is an organic mix of fascism and oligarchy. Anyone who knows econ 101 knows that type of system is destined for failure. Don't talk to me about the failure of capitalism, because we haven't had pure capitalism for nearly 100 years! And no, it is ABSOLUTELY NOT, irrelevant.

[rodrigodet]

@wetalmorker He does not mean that xd

[jingleshady]

I'm not sure if allowing a violent monopoly called the government to exist can ever be a good thing in the long run.

[DCLugi]

In regards to violence isn't it ultimately the people who carry out the act? I mean if we are looking at things "actually" it's the people that enforce the tax law and pick up the guns to defend the illusion of a nation. Just as concepts don't exist, violence only exists as an act. I doubt that a Senator or congressman would ever physically drag someone off to jail for not handing over their money.

[RPFS2008]

"Congress is owned by the Capitalists, and the force and fraud of the state is directed *for* the rich"

Congress is only owned by "capitalists" because congress has power over the economy, thus making them an extremely profitable purchase for the "capitalists"

libertarians know this, thus appose gov interference in the market.

Anarchists know that the very existence of a government will, at some point, lead to this, thus appose government altogether.

[RPFS2008]

"But libertarians refuse to see this, because they are too busy idolizing the rich and hating the poor."

Stupid comment. No point saying anything else.

[ascii7085]

I'm having trouble getting this video. It cuts off early, right before the the ten minute mark. /s.

[mju34]

Stef,

I'm assuming that mentioning how Bush was in "violation of international law" was merely a rhetorical point? I was confused by this, as I was by a similar video you made a couple months ago which I commented upon. I have to assume that you are simply making a point about the utter hypocrisy and disingenuousness of Obama, and not advocating the actual punishment of Bush under international war crimes laws, given your overall anti-State positions.

[quakergamer]

I enjoy these daily videos.

[TheTruthVibrations]

so good! haha

[erdal0]

if bush saw this video he would say i did it to protect my country

this is a lie ofcourse but on what levels is this invalid

[mindprism]

-- on what levels is this invalid

A guy down the block hates me and is saving up for a gun - so I hear.

Which is the lawful response:

A) Go murder him.

B) Wait for hard evidence that he is conspiring to murder me and bring that before a court.

C) Wait for his attempt.

Bush did a combo of B and A, but presented false evidence before the court. And the court never authorized A.

Then Bush joked about the eventual lack of evidence, after thousands were killed.

Pretty cut and dry in my book.

[1junk]

saddam never threatened the US,

(it would have been funny if he did)

so really the situations are reversed except the guy down the block had a tank

[hargilad]

3 years in prison for that poor iraqi is a tragedy. Sometimes when I hear such absurds, I litrally feel that there's no point in living in such a twisted world... well, im from Israel, I guess that living in a twisted reality is something you can easily get used to.

[anakin005]

The few million being misused by AIG is being focused on to revert attention from the 9 trillion bailout.

[newperve]

You don't understand Stef, GWB is a member of the union, the shoe thrower wasn't. No UN card, no membership of the union of violent people, so you can't pursue that trade. Well maybe profession since nothing is traded. That's why people are so mad at Osama bin Laden for killing 4,000 people and so calm about Madeline Albright killing 500K. Solidarity forever, for the union makes us strong!

[stefbot]

well pur

[newperve]

They are concerned with "the pillaging of the public purse" in fact it's the central pillar of their policy!

[stefbot]

amen! :)

[DCLugi]

Too much truth makes the baby go Yay!

[Hamandchees3]

I for one was actually surprised that 3 years was all he guy got. I was expecting something a little more absurd though any time behind bars for throwing a shoe and missing is already approaching absurdities infinite mass.

[newperve]

Well 3 years plus a severe beating, but the latter was not "official". Naturally the guys who administered the beating will not be paying the price in any way.

[Hamandchees3]

Indeed, this seems to be a situation where an "eye for an eye" approach would have been on the whole more humane. Of course the act of throwing a shoe at the president entailed more than the act itself. It also entails Bush's embarrassment and as a precedent for future 'assaults'. However, Bush is inexcusable if he supports imprisoning a man because of a little blush.

[PsyogiBottoms]

Stef, I think you have this backwards. The Government didn't lie to Wall St. about the economy, they lied to the people (workers) FOR Wall St.

Wall St. (AIG, et al) were the ones lying to everyone that their spreadsheets were legit.

Why pay million dollar bonuses (not salary) to crooks that aided and abetted their CEOs into extorting billions?

Do 73 'employees' (some no longer with the company that would otherwise be bankrupt) deserve to walk away from a burning building millionaires?

[fromeroj]

Yes, the company IS alive, thanks to the bailout.

But, if you don't wan't to pay the bonuses, they should let AIG to go bankrupt, and then there are not bonuses.

If you want AIG alive, then it has to honour those contracts.

You can't have it both ways.

[PsyogiBottoms]

The Bonuses have nothing to do with the success of the business, nor should there ever be bonuses paid for a company that has failed - that is retarded.

These should be performance bonuses - if 73 executives earned that many million dollar bonuses the company wouldn't have failed - its a bunch of cronies making out like gangsters loading their pockets before jumping ship and leaving it to the government to fix or dump. Meanwhile they're all millionaires for doing nothing but showing up.

[CBsoup]

Once again, please! please! Cease with the donation comments!

It reminds me of "Praise Jesus and pass the collection plate!!!!"

It irks me.

[teewillis1981]

Cease with the donation comments? If you went to a state school and your professor said, "Could you please pay your tuition and stop sitting in the back of the class listening for free?" Or if you went to a lecture series that required payment, would you contest? He's taken what he knows and is offering it in the free market. It's a service. How many people do you know that actually live 100% by their principles?

[stefbot]

Why do you think your reaction is so strong? Am I not free to ask for support for my work?

[Adipatus]

Dear CBsoup:

No one is holding a gun to your head.

If you don't like this channel's presenter or its business model, perhaps unsubscribing might be worth considering.

[newperve]

Well you presumably gain from seeing the videos and all you have to pay is slight irritation at donation requests. I actually pay, so what are you complaining about? You're getting it for free, if the donation requests are so annoying nobody's forcing you to watch.

[ganymedic]

It's not fair. Though the points are valid the president isn't free to do whatever he wants. If he were to move against Bush the country would be plunged into even greater chaos because the Bushes are very powerful and many Americans would be on his side too.

[stefbot]

Then he should be honest about that.

[navtel]

no reason to let him off the hook for murder. there is far too much corruption.

[newperve]

Obama has nothing to fear from Bush and the rest of his crew, who have less respect, prestige and power than the Repubs have had since Goldwater. Every time the Dems back down from holding the Republicans feat to the flames they get LESS popular. Common sense says Obama will be more popular if he appoints an investigator with teeth. I think Fitzpatrick's free isn't he? The Bushrangers simply have no power anymore, yet he let's them go.

[fromeroj]

So, you think (and agree) that powerful people is above the law? and no one, not even the president, can do nothing about it? and asking the president to apply the law "it's not fair"?? And the country would be in chaos if law (national and international) is applied?

You have a lot of not quite reasonable statements nested...

[ganymedic]

Fromeroj, I don't agree that they should be above the law, but if I were Obama I would prefer to deal with the immediate problems the country is facing instead of attempting to prosecute someone only to polarize the country. Besides, other people could prosecute Bush too. The ICJ, Canada, Spain. War crimes can be prosecuted abroad too.

[TruthSurge]

haha good point on shoe thrower. I couldn't believe it when I read it. I just said GOOD ON YA, MATE! hahahah If they beheaded him it was worth it to see a shoe flying at Bush's ugly mug. And to prove he's a sneaky cunning bastard, he dodged the shoe as if he had had shoes thrown at him for 8 years. I hope he suffers mental and physical anguish for the next 20 years for his heartless crimes.

[TruthSurge]

I've always known that the FDIC insured idea was a joke. NOTHING is guaranteed! haha Social Security? hahaha Pensions? Borrowing? It'll come home to roost. If not today, tomorrow. Greedy bastards. That's all.

[mihaiguy]

if stef were a flavor at Cold Stone, i'd always get him in "Gotta Have It" size

[odigity]

Hooray for almost-daily videos!

[minteko]

Stef for president!? lol just kidding

[enotdetcelfer]

squakboxes.. lol, exactly

the only time i even come close to them is when I have to go to the bank and they got some "news" program pumping in the trash...

[elliotcheely]

when i first heard off the "outrage", i began to laugh very heartily.

[kvan1917]

Your eyeballs are geniuses!