Thursday, January 14, 2010

RICH CELEBRITY EXPERTISE


Often on TV famous local used-car salesman.

"My friend Arianna Huffington has started a campaign designed to convince people to move their money out of these big banks and put them into smaller, local, community banks and credit unions that are more likely to see you as a person, not as an account number ... and also to reinvest in the community where they are," blabs Bill Maher in the above video, and in a stenographic post at Huffington here.

You'd trust Bill in an infomercial, right? The token celebrity sneering man on HBO, given weekly dispensations to defecate on obvious targets.

Almost as good as Glenn Beck gold.

DD went out to moveyourmoney.info, pumped in Pasadena and got this in about a second:


Oh no! Satan's Bank in Pasadena wormed its way into the list!

OneWest, which DD passes everyday on his way to pick up lunch, is not small or local or community-minded. It's IndyMac rebranded, its collapse and toxic assets taken on by the taxpayer, its name undergoing an attempted-but-failing laundering through new super-rich owners who continue on with the same.

Why, it was only a couple weeks ago DD wrote about Satan's Bank in Pasadena here.

"On November 25, 2009 a judge in Long Island, New York penalized OneWest for their 'harsh, repugnant, shocking and repulsive' actions in trying to work out a distressed mortgage by cancelling the debt in favor of the borrower,'" reads one news quote from it. Long Island is sure local to Pasadena. And part of our soCal community. Surely there can be no doubt.

As surely as there can be no doubt Huffington and Maher put all the effort into this it takes to quickly link a database of banks to a rating source at something called "FDIC Branch Data/IRA Bank Monitor".

Wow.

IRA Bank Monitor is a website/consulting operation whose principals probably write their own Wiki descriptions.

"As IRA’s public face, Christopher Whalen’s views are widely quoted, including in publications such as the New York Times and International Herald Tribune, Money.CNN, and on CNBC," it reads.

"The dream, the mirage has always been the global supermarket, but the reality is that it was a shopping mall," said Whalen gnomically to the New York Times, on some much detested bit of business, after the fact, on the fall of Citi.

See here.

"In response to the Financial Time's decision to honor [Lloyd Blankfein], noted bank analyst Christopher Whalen has canceled his subscription to the paper," reads an un-bylined blurb at Huffington Post here.

"Mr. Blankfein and his colleagues at Goldman Sachs, in my view, have done more to damage the reputations of global financial professionals than any other organization in 2009, yet you applaud them," it says Whalen wrote.

Around Xmas, well after the fact.

"Available credit for the US is receding and that's the economy's real lifeblood," Christopher Whalen, "of research firm Institutional Risk Analytics," brilliantly told TIME on January 8.

"The most important thing in the world right now," reads Gawker.

"Arianna Huffington and her buddy Rob Johnson [and now Bill Maher] have penned a lengthy explanation of why Americans should MOVE THEIR MONEY from large corporate banks to local banks because corporate banks caused the recession and are evil," Gawker writes.

"This is an admirable goal. Except it seems the real goal of the campaign is to drive readers to this lame website:

"Visit www.moveyourmoney.info to learn more about how easy it is to move your money. And pass the idea on to your friends (help make this video—and this idea—go viral!).

"The much-vaunted website looks like 'My First Wordpress Blog.'"


Ouch.

"It's been a year since a group of investors including billionaire George Soros and computer company founder Michael Dell agreed to buy IndyMac for what would be nearly $14 billion," reported the Pasadena Star-News in mid-December.

"Its press-shy executives have recently been meeting for lunch with local officials, getting the word out about their plans, re-writing mortgages and taking heavy flack from IndyMac borrowers whose loans they are refusing to change."

Sounds so friendly, community-minded and local, no?

"[Satan's Bank in Pasadena has] also been busy buying banks.

"On Friday, OneWest announced that it bought First Federal Bank of California and its $6.1 billion in assets in a deal brokered by the Federal Deposit Insurance Corporation.

"Sound familiar?" continued the Star-News.

"OneWest makes no bones about it. Its investors are buying up troubled banks to "expand the OneWest footprint," in Southern California, according to a press release on the acquisition ... With one fell-swoop, OneWest grew last week from the 33 branches (IndyMac) to a combined 72, from the 80-year-old, troubled First Federal ... At the same time, the spectre of one of the largest bank debacles in U.S. history still looms, as OneWest emerges in the very spot IndyMac fell apart - an office building at Lake Avenue and Walnut Street in Pasadena."

"On Tuesday night, Dec. 8, in a freezing blizzard, Leslie Parks returned from her job to find that IndyMac/One West had changed the locks to her home (3749 Park Ave. in Minneapolis)," reads this post at IndyMedia on Satan's Bank of Pasadena.

Strike a blow against evil banking. Ignore Bill Maher and the Huffington Post, it's just more of the same schwick but in different suits and from the west coast.

It's an abusive relationship, ya see.

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