Tuesday, November 18, 2008

Bich do your job

The bottle of Partida blanco is empty and no more hot sauce, but the effervescence remains. Been thinking lately (not like that is nothing new), and I really would like to know where is the Attorney General and where that mutha fuca been for the last 8 months to start? I would not be surprised if a lot of folk don’t know who the current Attorney General is or even what Department of the government they work out of.

The Judiciary Act of 1789 created the Office of the Attorney General. They are supposed to be the chief law enforcement officer of the Federal Government. Michael Mukasey is the acting US Attorney since 2007 I think. But I have yet to hear his named mentioned at all this year. That is strange to me given the massive amounts of fraud and manipulation that has reared its head in this age of collateralizing debt and massive financial fraud. Yep I said it fraud,

A lot, not all, but a significant segment of what had happened to our financial services sector has been the result of negligence, incompetence and greed – and for lack of a better phrase – criminal behavior. From the very bottom of accepting mortgages with no money down to the manner in which securities and commodities have been traded in unregulated and a seemingly black market fashion, there is enough criminal behavior to go around. Even Henry Paulson, who said we would use the bail out loot for capital injection to supposedly buying troubled and toxic assets (which now he is doing neither) borders on criminal behavior to me.

I think instead of making a fat salary, Mr. Mukasey needs to re-read the constitution and start seeking out all these crooks from Wall Street to the Capital Hill, and start prosecuting folks. He can start if he scared, with the hedge fund industry and work his way left and right. The hedge fund industry is estimated to control about $US2.5 trillion of assets, most which are beyond regulatory supervision. This is one sector of the financial sector that can be blamed for volatility in stock markets as well as destabilizing our banking sector. The main or one what they have done such is by the short selling of stocks of companies that has resulted in reducing the values and even bankrupting said companies.

George Soros, who testified before the House Oversight and Government Reform Committee last week suggested that hedge funds will be hit hard and maybe even destroyed by the global financial crisis to such an extent that possibly 75 percent of the money they manage may be lost.

I know some of the folks in Fannie Mae, Freddie Mac, UBS and Bear Stearns have some foul folks doing some foul things, and I would suggest that the AG start to investigate, if not, I hope the President Elect will hold the folks responsible and send these folks to jail, so what the contributed to your campaign, fair is fair and such will go a long way to restoring confidence in the market and responsible financial behavior in such institutions. So as me and my folk sang in 1996, Bich do yo’ job.


Pamela said...

If I'm correct, the AG is an appointed position...? If so, I wouldn't be surprised if there was a lock down on anything that would create bad press.

I've never had that tequila! I'll have to look for it.

Am I the first commenter today? Woo hoo if so!

NoRegrets said...

Who's that Pamela taking my #1 spot? arg...

Dusty said...

Mukasey is a Bush crony.

That should tell you everything you need to know about him.

The FBI is investigating most of the companies you named btw.... I think there are now over 19 financial companies being investigated for playing fast and loose with the truth with regard to the subprime meltdown and the Wall Street debacle.

Ms. Shai said...

Wow, this was enlightening. Shamed to say I had vaguely thought about it but hadn't given this topic this much thought.
You got me at the line about we don't know who the Attorney General is..because I sure didn't, and hadn't payed that position much attention since Janet Reno left.
I do agree, btch need to do his job.

BuelahMan said...

Don't hold your breath.

Nor, will Obama do much, if anything, about the abuses or illegal activities.

Mark my words.

nicki nicki tembo said...

I second buelahman's comment. I'm willing to bet the effervescence coming from your bottle lingers longer than the possibilty that these miscreants will be prosecuted.

Tera said...

In an ideal world, something would be done, but sadly, we do not live in an ideal world. I am sure that Obama realizes how much scrutiny he is under and that he has to give 200% in this job given certain pressures he faces, maybe he will encourage/support doing the right thing here.

NoR...are you having an identity crisis?

mp1 v.8.0 said...

Dept of justice, right??

I forgot who this dude was, so youre dead on.

The Bear Maiden said...

Hmph you're right. Haven't heard that name mentioned in a bit.

But I HAVE been telling you about the Hedge Fund bastards, at various times. I know about them only cuz I worked in that industry; the last corporate job I held. Scared me so bad I've yet to have a corporate job since. Shady, shady shady, right from their penthouses on Park Avenue to their secluded estates in Westchester, Long Island and CT to their huge bank accounts in Ireland (Cayman Islands wasn't far enough away from the SEC). I, (who really am too busy surviving on the day-to-day to really pay attention) noted briefly the other day that someone had called some of the biggies into question, and it was on the news, but the story's been quashed effectively.

I couldn't even figure out how the game worked, the Hedge Fund game, even though I was the customer service manager in charge of setting up the private IT networks (providing ISDN lines, computers, routers, etc) so these folk (all men, all white) could trade and manage their funds 24hrs a day from the privacy of the aforementioned penthouses and estates. I know you had to have a million dollars, bare minimum, that you could afford to lose on any given day, in order to get into the game in the first place. And that was a lowball number. I know they were betting against the American economy. I know they were the nastiest, meanest, rudest bunch of folk I've ever encountered because they had enough money to buy anything and anybody. I also know they were making more money than God, even when the market first started showing signs of weakening after 9/11 and I know they made millions after. For instance, I was at my company and distinctly remember helping to set up SAC Capital's network in 2001. Today they list their assets at $14billion. Now how'd that happen exactly????

Gangstarr Girl said...

Thanks for putting me on. I really don't know who the attorney general is, sadly. But it sucks when thinking about this financial crisis we're in because it's been going on for years. These people felt they could get away with their greed and lies and now it's finally come to light. But it's a travesty, that people don't know as much as they should (myself) including, or take as much action as they should, regarding these matters.

Randal Graves said...

"We don't have anyone working here by that name."

I remember all the Dem hang-wringing before the confirmation vote and even on the tubes, sadly few were of the 'hey, let's wait a minute before saying yay' variety.

Lo and behold, another cog in the crime family.

Man, there's a fuckload of stuff to clean up.

One Man’s Opinion said...

Okay, I got to admit it....did not know who the Attorney General was. I am hella ashame.

Craigjc said...

The AG is tightening up his office, bout to go on "vacation" with
Bush and get a piece of the oil pie. He's done. Only person still doing their job in the administration now is your girl Condi. Figures ...

Curious said...

Since Gonzalez left, I never paid much attention to who took his place. I always thought that people paid to much attention to the monkey and not enough to the organ grinder (Bush, Cheney or even Rove).

But I also thought that the FBI was already starting to investigate people in the finance industry.

Dusty said...

And today it has been learned that Obama has offered the AG job to Eric Holder. I don't know much about him yet but I will be writing a post about him shortly. First African American to be nominated for the job :)

You must have a sixth sense Torrance to post about this position today. ;p

an average patriot said...

Under Bush the AG is a criminal and the chie4f enabler of Bush's crimes. You should like this though!
Sources tell CNN’s Ed Henry and John King Barack Obama has chosen Eric Holder as his nominee for Attorney General.

Holder has accepted the position but must still undergo a vetting process by the Obama transition team.

If confirmed, Holder will become the first African-American to hold the position.

He served as deputy attorney general under Bill Clinton

clnmike said...

Now you know they are doing eveything possible to sneek out of office with out a stir.

having the AG do work means shining the light in some of Bush's dark corners as well.

Akande said...

Let's see what Eric Holder brings...it will be an interesting first term for the President-Elect...

http://www.blog. newsweek. com/blogs/ poweringup/ archive/2008/ 11/18/obama- s-attorney- general.aspx

RunningMom said...

I'm with OneMan, I had no idea. Perhaps I should be more informed about the world... running off to read more..

RealHustla said...

Maybe the position of attorney general is more like a symbolic position, like a decaying monarchy or something.

I don't know, all I'm saying is that maybe he never intended on doing his job from the get.

KELSO'S NUTS said...

TORRANCE: I'm not liking Jones's jerking off of Lieberman but I am very much liking selections of Craig and Holder. But to your point....

It is time that the REAL progressives and REAL libertarians got together again on this the way they did to defeat it the first time around. What’s happening here makes Reaganomics seem like a blend of responsible Neo-Classical and Keynesian economics. I thought Reaganomics was the worst fiscal policy I could imagine. I thought Bushonomics exceeded that. I think this element of Ameronomics is the craziest still. Reaganomics was UNFAIR. Bushonomics was UNFAIR AT THE STALINIST LEVEL. This is just brazen daylight robbery, sacrifice of American people in and out of uniform, the destruction of the working and middle-class, the fascist takeover of all US capital markets, its real property sector, its banking system and automotive sector.

In our relatively peaceful country, when there was a breakoff in discussions between the bulidings-trade union and the developers the union took to the streets in non-violent protest and one organizer and one policeman were killed. Everyone felt betrayed because everyone respected the right to collectively bargain, the right to peacefully assemble, and the right of the developers to make a normal profit. The shame in that event is still palpable even though both sides eventually agreed on a contract.

The USA needs some kind of sui generis homeowner/borrower collective I guess or this will go from bad to worse. Why for example did Bush not deal with Gordon Brown seriously on a 1 trillion Sterling CREDIT LINE policy to be used on an as needed basis and administered by a consensus? RHETORICAL QUESTION lol!

Why was my idea and the idea of Barney Frank and Ron Paul discarded in favor of a TARP okey-doke that was never going to happen? The world is full of US Dollars and we’re willing to buy up the loan packages with any kind of no-eviction covenant they want. We nnow value when we see it and we don’t care if one or two “irresponsible” poor people are scofflaws or not. The very creation of the CDOs themselves diversifies away all that risk anyway. And the prices are irresistable right now.

The Treasury and Fed know that, however, but they want to squeeze the lemon dry of every drop instead of allowing an international free-market solution to allow the banks a chance to close out their losers or keep making their capital calls, plus allowing some hidden stimulus for the working and middle-class by placing no blame on the borrowers, nor requiring collateral, nor requiring expropriation of property under the Bankruptcy Law of 2005.

The world is ready to help. Are progressive Democrats and conservative/libertarian Republicans ready to stand with us to serve the greater good of all concerned? Or is the poltical power summer camp color-war more important than real people?

2sweetnsaxy said...

Half the time I don't think most of those folks in Washington know anything and they're all afraid to be the first one to admit they don't know something.

Reminds me of the movie Born Yesterday with Melanie Griffith and Don Johnson. He gives her some line to memorize and she repeats it in Washington at a party, "the Verner Amendment". No such thing, but no one wanted to admit they didn't know what it was.

To me, that most folks in Washington in a nutshell. Maybe the attorney general really doesn't know what his job is any more than Sarah Palin knew what the Vice President does.

OG, The Original Glamazon said...

It is crazy to me that they were more interested in trying to prosecute Clinton for lying under oath about an affair or any of that Lewinsky foolishness. When we need to be hearing impeachment and having real charges brought against GRAND LARCENY and all the above, it phucking crickets chirping or should I say the hum of the machines use to count massive sums of money.

AG Gonzales was an alumni of the same undergrad as I am so I actually did know who the acting AG was, I watched that story unfolded hoping he wasn't about to bring shame to the Rice name. *lol*

God thing no one pays attention to undergrad degrees when you have an advanced degree.

You know I agree with you.


Just Startin' Out said...

He's been missing ever since that whole Waterboarding issue a while back. Doesn't matter now...his ass will be replaced with a black man as the attorney general. Hopefully he won't disappear...http://www.google.com/hostednews/ap/article/ALeqM5hOoY9mFQWfGjLmdHH4GI5QKhne0wD94HLQ0G0

Torrance Stephens - All-Mi-T said...

Blogger Pamela
yes u are correct and u will enjoy it so drank up

is that the pirate in u coming out lol

yep, i know but that man getting paid - to do what sit on his azz

Ms. Shai
thank u maam, i try

and i belive u they wont do nothing - just will they do

nicki nicki tembo
great m inds think a like

well said and lmbao at comment for NoR

mp1 v.8.0
yes scholar as usual u are correct

The Bear Maiden
yes u have and i agree with u, and i know u thinking bout it now just hope i did not get the Maiden roused up

Gangstarr Girl
well that is the real first step to change and i think u are well on your way

Randal Graves
LOL now thats funny and i bet they will say that if we called his office too

One Man’s Opinion
not on u its hime he aint doing jack

u like Randel are cracking me up - so true, may even be fishing as we speak

the fbi is, and guess what, not based on any suggestion for him - and didnt know who he was either - had to look it up

thanks sister, make me feel like psychic

an average patriot
well i have to wait and see what he does, he was also co-chair on obama's vp vetting team and chief legal advisor for his camp.

lol never thought of that. gr8 point

i can do that

well i bet we hear about him on Bush's last day when he pardons criminals

the sad thing is u may be right and think of the ag that way

true, like a home owners union

again sad to say - i think u are right

OG, The Original Glamazon
the administration of crooks in other words - love the way your mind works folk

Just Startin' Out
u know u are right about that

Akande said...

Did you hear VP Cheney and the AG just got indicted? LOL...interesting how this drama will play out

Sista GP said...

Interesting that Eric Holder was discussed two weeks ago in the Radio Show. I remember writing it down.

R. Fitzgerald said...

Appointed folk are kept in check by those that appointed them, if they are loyal, or else they end up like Ron Brown.

I don't see Obama having newly appointed dude do much, because if he does let him lose, one of them is going to turn up dead. These folks will let him play boss as long as he don't mess up their grip.

Obama don't have the true backing that it takes to make this a hostile takeover of the way things have always been done.

Nobody move, Nobody get hurt.

MacDaddy said...

Eric Holder worked in the Clinton Administration, under that tall white woman. I forgot her name. He was viewed as smart, cool-headed guy. At the Clinton and the AG didn't get along. So Eric Holder conveyed messages and generally communicated to Bill Clinton.

They say he's a Clinton person. He was never a part of the Clinton circle, just a good Clinton. In fact, he, along with Ted Kenned and John Kerry, were one of the first to come about for Obama when them sorry ass black caucus folk wouldn't. Now, he's being reward for giving Obama sound advice from the beginning to the end of the campaign trail. He's been critical of the Bush administration on legal matters. He's going to be a great AG.

Kin'shar said...

Hey to be honest...I dont go pass my president, vice president, and my governor.....so ummmmm ok

KELSO'S NUTS said...


The name you are searching for is Frances Ford Townsend.

KELSO'S NUTS said...

This is what I know about Holder.

He's more interested in busiess law than in prosecution and punishment as a general rule. His manner is relaxed and his AUSAs pretty much followed his style in that they weren't looking to extract maximum punishment in cases. His AUSAs would deal with defense attorneys and clear cases.

The sillier small drug cases were not a high priority. With the tax cases unless it led to racketeer-based money-laundering, conspiracy, excise tax fraud, non-branded gasoline and interstate truck hijacking, he'd generally not want to bother the IRS special agents with. He'd let those go to civil tax court.

Defense attorneys of my acquaintance had a pleasant relationship with him, though a slightly better one with Deval Patrick and Alan Vinegrad -- on the East Coast, that is.

Holder also has a great interest in the criminal aspects of enviromental law -- illegal dumping of toxic waste, etc.

He will be portrayed in the MSM as both on of Clinton's cronies and one of Obama's Blacks. It could get ugly, especially given his demeanor which is not the hard-charging Rudy Giuliani asshole style at all.

His hiring practices were of high standard. He'd never be taking those Bible College Girls that Ashcroft, Gonzales and Mukasey liked. Expect AUSAs with big credentials.

If there's a stain on is record, it's not his and Townsend's signing off on Marc Rich and Pincus Green's pardons. It's his involvement through Bill Clinton's ill-advised "Plan Colombia" in which he may or may not have had an arrangement with Chiquita, Inc, and Colombian paramilitaries to use "the war on drugs" as a way to break up union organizing down there. This, if as bad as they say, strikes me as a "following orders" thing more than international malfeasance.

Obama and Craig are opposed to Plan Colombia but you know how hard it is to shake American politicians off their beloved drug-war!

He is extremely intelligent, though not the litigator that Gregory Craig is. That's fine. He'll be settling policy, not trying cases.

All in all, an excellent pick in my estimation and a real break from the Reno-Ashcroft-Gonzales-Mukasey brutality style in favor of a lighter touch. Probably George Bush Senior's AG, Dick Thornburgh, a very reasonable man, is the closest comp on recent vintage.

I think he's a big step forward.

KELSO'S NUTS said...


Did you know that I am a "HEDGE FUND BASTARD"?

Don't worry. No offense taken. LOL

KELSO'S NUTS said...

@ SISTA GP: I was saying on the show that I was disappointed that Obama chose Emanuel over Holder for Chief-Of-Staff

Doug said...

Mukasey's doing the job Bush hired him to do, which is no job at all. Tits on a bull.

I'm also thinking Obama won't go after these crooks. He's all about the High Road right now. He wants to look benevolent. It's a dangerous thing if he lets the crooks slide, and I do hope I'm wrong.

James Tubman said...

i thought gonzalez was still the attorney general

but i forgot last year he was involved in an indictment or something

you know cheyney and somebody else is getting indicted for war profiteering or something

Torrance Stephens - All-Mi-T said...

yep im waiting to read the charges if u find them send them pls

Sista GP
we try to stay on top of stuff

R. Fitzgerald
true, and mickey Leyland

thats funny cause Reno used Holder and Clinton used Rahm Emmanual for white house/ Justice dept corr.


ie he riding this position to history and retirement lol


now thast ashame ansd funny as hell

James Tubman
yea folk, i guess once a crook always, and the vp, wonder if u and me can shoot a man in the face and not serve time or have a court date

Anonymous said...

can someone explain to me why the dollar continues to increase in value?

-the donalg

msladydeborah said...

I almost forgot that there is a current AG.

Do you honestly believe that there is going to be anything done by the current WHAdmin Staff? I suspect he is ready to roll out ASAP.

The Bear Maiden said...

Hey, RDB.... CNN is reporting that he collapsed during a speech tonight...

Curious said...

He must have heard someone was blogging about him

Anonymous said...

Very well stated. I'm tired of folks who rob Seven Elevens and Subway shops having the hammer thrown at them, while people who "buke" millions of dollars from innocent victims defy punishment.

George M

T. Michelle Theus said...

When they said he had collapsed the other day, the first thing I thought about was this post you did lol Prior to reading this post, I must admit that I did not know who was the current Attorney General so I guess that is proof that your blog is educational =p lol

KELSO'S NUTS said...


I'm far from the world's authority on this but it would seem to me that the US depression and burgeoning global recession suggest a conventional wisdom that unemployment is the problem and inflation is something to ignore. Now, as a currecy's value against an outside basket is inversely correlated with inflation, that's one reason.

I also think that the lack of clarity in the bailout series has pushed the bigger banks back into their mode of late September and early October of having to have their prop desks cash in their winning USD short positions and winning commodity (esp. in energy futures) positions so as to make the annual reports for the stockholders look prettier than they would have on the consolidated balance sheet, EBITDA, etc.

It could also be a kind of chicken-egg argument with the commodity basket itself.

Finally, I've heard some talk about a foreign "Obama Honeymoon" effect, in which the mismanagment of the US economy was so hideous by the Bush Administration that a lot of players want to get long USD now figuring that WHATEVER Obama does, it can't be worse.

Torrance Stephens - All-Mi-T said...

aint rocket science, all (even european countries econonmy is pegged on dollar) thats why

yep there is one - somewhere over the rainbow lol

The Bear Maiden

LMBAO i got the greatest folks with senses of humor in the blogoverse lol

thats all im saying a crook is a crook

T. Michelle Theus
lol i love u too hon

u are a lot nicer than me bruh - lol

Anonymous said...

torrance your answer explains nothing... so what explains the yen's even more rapid increase against other currencies and the dollar? i was an intern rocket scientist at jpl a few years back and engineering is a lot more straight forward (and probably easier to understand) than this economic nonsense... anyway, thanks kelso your answers are much appreciated.

-the donalg

Curious said...

the Donalg, let me throw something simple out there about the value of the dollar. I think the value of the dollar is dependent on the demand for it by those who don't have it. The more someone wants it, the more the price for it will go up for it.

An example. If the costs of owning shares in a viable businesses traded on the floor continue to fall, those businesses will become more and more attractive to foriegn investors who will in turn need more and more dollars to make the purchase, thus raising the need for more dollars and increasing their value.

At least that's the way I understand it.

Curious said...

the Donalg, let me throw something simple out there about the value of the dollar. I think the value of the dollar is dependent on the demand for it by those who don't have it. The more someone wants it, the more the price for it will go up for it.

An example. If the costs of owning shares in a viable businesses traded on the floor continue to fall, those businesses will become more and more attractive to foriegn investors who will in turn need more and more dollars to make the purchase, thus raising the need for more dollars and increasing their value.

At least that's the way I understand it.

Edwin Drood said...

All Fanny, Freddie, AIG have to do is say (to the government)

"You're the ones who told us to give broke people all those loans in the first place"

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