New government bailed the 60 families out of their miscalculations and unintelligent leadership!

We preserved their corporate structures from going through the wringer of bankruptcy!

Government preserved the perverse management structure and then sought to modify how business is done to restore confidence and purchasing power of all Americans.

Americans no longer must wait for the gravy of the 60's benevolence to trickle down upon the exploited millions at the bottom.

Government did get the economic system back on its feet; did succeed in doing a job where the 60 families had failed.

By 1936 FDR said the 60 patients are over their panic and are raising their salaries and threw away their crutches.

Last spring government had business running so well it heeded pleas of private enterprise to abandon Economic Initiatives and balance the budget because heads of Biggest US banks were worried about runaway inflation

So the 60 in Private Enterprise took responsibility they eagerly and willingly assumed and what happened?

Several Things the 60 Families Did:

1. Masterminds, proved they learned nothing and repeated same mistakes before 1929.
2. Ran Stock market up and Helped it get started down.
3. Did next to nothing to increase purchasing power of labor to offset government withdrawals
4. They ran prices to the sky so the consumer refused to spend what they graciously let him earn.
5. Unwilling to do business democratically they began to make demands and threats.

FDR and Millions of Americans were threatened by BIG BANKS like The Bank of US did 100 years ago to Andrew Jackson and lost!

Big Banks threatened to refuse to do business at all unless FDR and Congress/People repeal all we gained the Last 5 years and regrant them Su!cida1 License they enjoyed in l929.

Banksters refuses to employ capital unless they are once more given full power over America and its democracy to which every American man and woman over four generations has contributed sweat and b1ood.

Bankster want complete freedom to speculate without regulations protecting the people’s money!

Banksters wanted complete freedom to accumulate wealth and avoid taxes through legal tricks and dominate the rest of us without restrictions on their power.

Banksters threatened a general sit-down strike of 60 families and their capital created using the American people = a big-business Fasc!st America = an ens1aved America.

Can Big Business in Congress be compelled to conform to our laws, accept the Will of Majority, and cooperate with us to make democracy work?

Daniel Webster in a speech at bicentennial of Pilgrims landing said Growth&Survival; of Democracy depends on Equitably Distributed Wealth and everyone having a real chance to acquire an economic stake.

It's unbelievable that there developed a small group of VERY R1CH MEN who seek to dominate millions of Americans.

It was inconceivable that legal entities called Corporations would grow into Fr@nkenste!ns that threatened to destr0y liberty.

Since Earliest Days of America, we have been taught to fe_ar concentration of private economic power especially d0minating influence of large corporate enterprises, and not without reason.

It’s a hard fight to preserve a free Democracy with Individual Enterprise against Concentrated Power.

Some say the fight cannot be won because government cannot control concentrations of private economic power.

But we can prove the f!ght can be won so that private economic power can master OUR government. Big business must be controlled if our democracy is to survive. Our government knows no privi0eged c1ass and acknowledges none.

Concentrated wealth &power; in hands of a few is just as da_nger0us today as it has been in times past to preserve our human rights.

In other nations and times, people were f0rced to carry the Ar!st0cracy on their backs but in America we have developed even more oppressive money ar!st0crats, corporate ear1s, and economic over1ords an even greater menace to our institutions than a titled class.

It is intolerable that Our Democracy depends upon Self-Restraint of Corporate Men strang1ing our Freedoms.

Fasc!sm is defined as “controlled capitalism,” but before long there is always someone ready and able to se!ze control of “controlled capitalism” and if our New America starts out as big business Fasc!sm, it will end with the methods of War1ords.

Yes it is Money the Secret and Corrupt FED Reserve is Printing to INFLATE our Currency so that Wall Street can make FABULOUS Profits!

We the Taxpayers are paying through the Silent Taxes of Inflation and lost Opportunities!

Barofsky=TARP inspector general said “guarantees raise important oversight concerns.”

CIT was player in l929 CRASH, vi1ified as “bankster” using unlimited credit like today!

CIT underwrote Securities+Did Sales to depositors­=Glass-Ste­agall Separating activities

CIT’s Reed+Weill deployed an armada of lobbyists + Sen. GRAMM to Congress to remove Glass-Steagall

So CIT joined Travelers Group Insurers/I­nvestments under dealmaker Sanford Weill.

CIT=“franc­hises..the envy of the world. It was a remarkably powerful institution.”=$18Bn

Weill ousted Jamie Dimon 8 mos. after merger = Dimon to JPM with top talent following

Prince followed Weill and assets ballooned from $1.49 trillion to $2.19 trillion 2005-07

Dubious mortgage loans+CDOs on mortgages+other debt securities undermined CIT’s finances

2008 CIT had $57Billion in CDO’s on books-couldn’t sell=Played Ponzi scheme of recycling CDO’s

CIT used various accounting gimmicks to conceal assets that soured=Many pending LAWSUITS

Officials at OCC+ NY FED’s Geithner=regulators at time CIT Scammed+lost $35Billion

CIT relies heavily on uninsured deposits in overseas locales where customers quickly pull money at first sign of trouble

CIT accounting to temporarily move assets off balance sheet to look good backfired

Pandit’s hoping economy improves so Derivatives sold with big returns+mortgages are paid off

Squaring CIT will take more low interest+taxpayer assistance=NO CHANCE in HECK!

CIT bondholders will have to pay with lost investments!

They were in the middle of the last great crash too right?

And Bush inc the Cheney Mafia kingpin? and what of there crimes and contributions to this mess? right! more denial born out of a self deluded ideology based on narcissism fear and duplicity!

Yes but a P00R Second Cousin to G0LDMAN+JPM!

Citigroup Inc campaign donation to Obama: $701,290

http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638

Great. Just let the government clean up the waste and corruption from itself first and then I would be on-board.

The government owns 8 billion shares in CITI. It's in all our interests to see it succeed.

How so?

They went back to cod fishing.

What do you do with the stripped toxic assets

Her balance is causing a default?