Sep 21, 2011
Show 753 Segment 1- Ann Coulter on the Rush Limbaugh show discussing her new book Demonic. 17 minutes.
Segment 2 Charlie Gasparino talked from New York City about his latest book, Bought and Paid For: The Unholy Alliance Between Barack Obama and Wall Street. He also responded to telephone calls and electronic communications. Oct 24, 2010
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From Conservative Book Club:
Bought and Paid For: The Unholy Alliance Between Barack Obama and Wall Street
by Charles Gasparino
In 2009, just as Goldman Sachs was getting ready to celebrate $25 billion in bonuses for the year, President Obama referred to the bailed-out bankers as "fat cats" enriching themselves at the public's expense. But according to award-winning financial journalist Charles Gasparino, Obama was faking his outrage -- and Wall Street, in turn, is faking its displeasure with his supposed efforts to rein them in. In reality, Wall Street spared almost no expense to elect Barack Obama -- and it got what it paid for: It has benefited disproportionately, even extraordinarily, from that support in the two years since Obama became president. Moreover, this cozy relationship continues today -- and as Gasparino demonstrates in Bought and Paid For: The Unholy Alliance Between Barack Obama and Wall Street, it's thriving more than ever before.
Gasparino draws on interviews with dozens of key CEOs and political players to trace the roots of Wall Street's twisted love affair with one of the most liberal presidents in American history. He shows how, for decades, big banks and big business have colluded with big government, thereby laying the groundwork for today's shady dealings, and how the same bankers Obama now publically reprimands have supported him -- not because he promises change, but because he promises business. "The fact of the matter is," writes Gasparino, "when you strip away the name-calling and class warfare coming from the Obama administration, and when you ignore Wall Street's gripes about new legislation that will put a crimp in some of its profits, these two entities are far more aligned than meets the casual eye. They coexist to help each other -- in an unholy alliance against the American taxpayer."
In Bought and Paid For, Charles Gasparino reveals:
How under Obama the big multibillion-dollar firms of Manhattan have been given guarantees no small businesses (the linchpins of our economy) would get
How the investment banks were granted support from the Federal Reserve to keep interest rates near zero -- a policy that President Obama fully endorses -- which virtually guarantees titanic profits at places like Goldman Sachs, even as small businesses are denied loans
How, at the urging of Wall Street, the administration has left in place many of the same corrosive structures that led the financial system to near collapse in the first place, again to the benefit of the bankers who've made fortunes while ordinary Americans have struggled
How even the president's "financial reform" bill leaves firmly in place those toxic setups that give the banks the most profit: the ability to play roulette with taxpayers' money; the ratings agencies whose "impartial" assessments many investors relied on but who are paid by Wall Street; and the ability for the big banks to remain just that, big -- "too big to fail"
How the massive banks, like Citigroup, that mixed risk- taking and safeguarding the deposits of average Americans haven't been forced to break up, even though this very same business model (once outlawed) was one of the main contributing factors to the financial meltdown
How the destructive risk-taking that caused the financial crisis was encouraged, enabled, and funded by politicians in Washington -- politicians who had been bought and paid for by fat campaign checks from Lower Manhattan
How the Obama administration's new spending programs require the issuance of titanic amounts of new government debt that -- again -- fill the coffers of bankers who earn fees from selling the debt
Written in Gasparino's characteristic smart yet no-nonsense style, Bought and Paid For is both an exposé and a wake-up call to all Americans to strike back against the people and policies that are ruining our country.