An Honest Man Slaughters USA’s Bailout King Neel Kashkari

Donald Manzullo - American Hero!

Donald Manzullo - American Hero! Rep. Manzullo grills Bailout Czar Neel on why a failed company that was bailed out with taxpayer dollars -- AIG -- was allowed to give a $3 million bonus to an executive.

“We can’t relate to you in your world. I don’t know where you come from or the people with whom you deal on a day-to-day basis – but when you sit there and cannot take a position as to whether or not a three million dollar bonus to a failed company and as to which the taxpayers have put 125 billion dollars in assets – perhaps you’re not the right person for the job. Perhaps you don’t understand the situation at all…”

…US Congressman Donald Manzullo kicks the ever-loving life out of US government bailout official Neel Kashkari

Neel Kashkari - Slimey, Evasive

Neel Kashkari - Slimy, Evasive

You MUST Watch This YouTube Video!

How can we get US Congressman Donald Manzullo elected to the Barbados legislature?

Nevermind that he is a Yankee. Nevermind that he is talking about the trillion dollar bailout of failed American corporations.

Think Leroy Parris. Think CLICO. Think Cinnimon 88. Think rich Bajan racing horse owners. Think about all the money being handed out by the Barbados Government under the leadership of Prime Minister David Thompson.

Then watch this video of an honest man questioning a slimy, evasive government official.

Watch the YouTube video. Then think Prime Minister David Thompson as Neel Kashkari.

Do it. Now.

YouTube: Rep. Manzullo Questions Bailout Czar Neel Kashkari

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28 Comments

Filed under Barbados, Corruption, Crime & Law, Political Corruption, Politics, Politics & Corruption

28 responses to “An Honest Man Slaughters USA’s Bailout King Neel Kashkari

  1. Hants

    Now we know why your ratings are so high.

  2. Glad you posted this video! Capitol Hill Theater at its best…is Manzullo playing the role of devils’ advocate in the script?

    The global power elite are so deeply entrenched (and have ‘the goods’ on most others who might squawk too much) it’s doubtful that the rats will be running from the woodpile until their enemies burn it down completely.

    My main concerns are the innocents in between. jude

  3. BFP, I fully agree that a ‘bailed out’ company should NOT be giving ANY bonus to executives.

    Also, I agree that ‘bail out’ money should be solidly and transparently applied and accounted for.

    Nevertheless, in terms of assistance to specific industries or projects, I would caution again that the key word at the moment is ‘jobs’.

    At the moment, you should see the difficult hairy pitch that the new President is batting on.

    Indeed, some countries are basically falling apart economically, it is not pretty at all.

    Thus, the current Government’s attention to jobs is reasonable, albeit I would take your side that transparency must be applied with any assistance.

    Sadly, sorry to say this, this economic situation is getting worse before it will even have a glimmer of getting better, hence my warnings a while back that we need to plan for worldwide economic emergency.

    Questions that we need to all ask are, how are we going to eat, what assistance is being given to agriculture and fisheries, as a matter of utmost urgency.

    Assistance with increased fishing facilities including new solid fishing boats with longer range, storage facilities and technology (navigation etc) is important. Likewise, regeneration of existing unused agricultural land into production, via incentives, is necessary NOW.

    This must include incentives for livestock farming, sheep, goats, pigs, cows and chickens.

    The current scenario is into the extremely worrying, as we expected.

    Action is critical, decisive and specific response is necessary.

    We must also, due to expenditures and depletion of foreign exchange reserves in a time of reduced international income, reduce our expenditures on oil i.e. gas consumption, the obvious being car usage.

    We need to pull back on this usage for two to three years, to get past this economic climate and prepare for increased oil prices at the end of this cycle.

    We will be well with the right action.

    Peace & Live Strong.

  4. Adrian Loveridge

    I watched the UTube video and my first thought was why can’t we have people like Senator Manzullo is the Caribbean?

    We seem to have developed a culture of rewarding people for failure rather than the proven ability to succeed.

    I have no problem with bonuses, but they have to be in proportion to what has been achieved.

    My second thought was how much did the suit cost that Mr Kashkari was wearing?

  5. Jason

    BFP, you prove your worth to me every day. I would love to know who your writers are. They are brilliant.

  6. .248

    I see a politician playing for the cameras. Deliberately asking for a simple answer to a complex issue, and brow beating the civil servant who he doesn’t allow to answer.

    This “honest man” voted against expanding health care for children and for wiretaps without warrants. He was also one of the key backers of the “Patriot Act”.

    You could also ask about the 100billion dollars voted for without conditions for the war in Iraq, or the vote refusing to rescind tax cuts for oil companies despite windfall profits.

    Don’t be suckered in by the posturing. Remember it’s not what politicians say it’s what the DO that’s important.

  7. Green Monkey

    Well said anonymous:
    Don’t be suckered in by the posturing. Remember it’s not what politicians say it’s what they DO that’s important.

    Now chew on this with your morning corn flakes:

    The Spectacular, Sudden Crash of the Global Economy

    By Joshua Holland, AlterNet. Posted February 24, 2009.

    In a short period of months, the entire system of global capitalism has screeched to a halt. No one knows what happens next.

    SNIP

    For almost 40 years, smooth-talking snake-oil salesmen in well-tailored suits have pitched the wonders of a globalized economy. Politicians and pundits alike insisted that the wealthy states at the core of that worldwide economy could shift labor-intensive production to the poorer countries at the edges, in search of a cheaper pair of hands and less nettlesome regulations, and that ordinary working people would benefit. Whatever pain Americans might feel as a result of the project was merely temporary “displacement,” they argued, and anyway those cheap toys at Wal-Mart more than offset any problems that might come along with the decimation of America’s middle class. After all, a little lead never hurt anyone.

    Continued at:
    http://www.alternet.org/story/128412/the_spectacular%2C_sudden_crash_of_the_global_economy

  8. Anonymous

    BFP would like him because he’s exactly like them. Shady with a veneer of honesty, and posturing for ratings.

  9. Hants

    from CBC Barbados.”
    The International Monetary Fund (IMF) says while Barbados’ financial system has proved to be resilient, regulatory reform is still needed to increase its flexibility and stability.”

    This is very interesting.

    After supporting the failed derulation policies of the USA and the UK, do these IMF “experts” have any credibility?

  10. Illuminator

    .248 , I luvs it………..lol .

    Bare theatrics seem to be going on there . Most of the U.S congress have been selling out the United States people and assisting in the erosion of their rights for a while now. I have serious doubts about them getting balls and a heart all of a sudden .

  11. Illuminator

    Hants , my thoughts exactly . I was wondering where they were when the madness in the U.S financial system was occuring , with their ‘we know all about this stuff’ attitude .

    Which country has the I.M.F ever truly saved , all they do is make them sweet pickings for large multi-national companies with their devaluation policies.

    The I.M.F and the World Bank is de same thing , pure poison for developing countries.

  12. reality check

    .248

    “Deliberately asking for a simple answer to a complex issue, and brow beating the civil servant who he doesn’t allow to answer.”

    Sometimes the simple questions are the most revealing. It is business acrobats and civil servants who “finesse” exceptions to that which should never be permitted, that have caused the outrageous abuse of taxpayers money.

    Even though most politicians attempt to suck and blow at the same time and grandstand when a camera is on them, it is these kind of challenges that are necessary to get us back to basics.

    I loved every second of it.

  13. The Scout

    The IMF, S&P and World Bank, have all lost my credibility. A statement just made by the IMF that Barbados should have invested much of it’s NIS money in foreign accounts, really means, for them, that it should have been in USA. This would have left Barbados in much more problems than we are in now. I agree we need persons in this country to call a spade a spade. I hope we can develop some more Errol Barrows

  14. Anonymouss

    Scout, can you tell us where our NIS money is now?

  15. Green Monkey

    It seems the SEC “stood down” repeatedly for those in the Bush Family Circle.

    Posted by seafan in General Discussion
    Mon Feb 23rd 2009, 10:08 PM

    Remember former SEC attorney Gary Aguirre’s testimony that an insider trading investigation was squelched?, from 2007

    In a December (2006) hearing of the Judiciary Committee, just before Congress changed hands, Grassley and the panel’s then-chairman, Specter, uncovered further evidence of Justice Department collusion in efforts to thwart congressional inquiry and intimidate whistleblowers. This involved the unheard-of step of subpoenaing confidential discussions between a whistleblower and congressional staff.
    That hearing focused on charges, by former Securities and Exchange Commission attorney Gary Aguirre, that an investigation into insider trading by one of the largest hedge funds was squelched by SEC officials. Aguirre had wanted to take testimony from a prominent Wall Street figure, who was also a major fundraiser for President Bush. When he pressed the point, he was not only prevented from doing so — he was fired.

    snip

    The signs all point back to revelations such as this one:

    May 5, 2006: “Intelligence Czar Negroponte Can Waive SEC Rules”

    President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye.

    http://journals.democraticunderground.com/seafan/2899

  16. Whistling Duck

    Brilliant. Donald Manzullo should be shared around the world to interview others involved with financial responsibility.

    I can not understand how all this money is still being paid out in bonuses when financial institutions are teetering on the brink of insolvency.

    The financial press is concerned with the loss to major business but has shown little concern for small buisiness and the self-employed.

    It would be interesting to know the ratio of employees between large and small businesses in Barbados.

  17. anon

    At CLICO? Lol

  18. Royalrumble

    Just to update fellow bloggers. I was just informed that as a direct result of the exposure of Christopher Sinckler at the BLP’s public meeting on Sunday at Oistins and the way he got his Jaguar from Clico, he has now returned the big ride to Clico.

    This matter will be monitored so as to ensure that this big ride does not find it’s way though the back door into Sinckler’s garage again.

    I am also following reports that indicate that a number of DLP Parliamentarians have received from Clico, individually as much as $2 million to build homes and buy cars.

    This is one of the reasons why I am so concern about the DLP’s attempt to repurchase BNB at this time, during Clico’s crisis. In addition, I am concern why the DLP would want to buy Clico’s property, Sam Lords Castle at this time. To buy any of these two properties at this time is ludicrous and requires the support of the full Cabinet of Barbados. Is this why those funds were made available by Clico at this time?

  19. reality check

    Scout

    partially right although a basket of world currencies in government bonds would no doubt have done much better for NIS investment money.

    IF NIS money went into GEMS, CLICO or any such projects you can probaly write off most of it down to nothing.

    Standards and Poors for approving and promoting asset backed debt ( sub-prime mortgages ) as worthy or equal to bank certificates of deposit should really be made to close shop.

  20. reality check

    “I am also following reports that indicate that a number of DLP Parliamentarians have received from Clico, individually as much as $2 million to build homes and buy cars.”

    I desperately hope there is no foundation to this?

    Can you give details and what security was given?

  21. Sargeant

    The DLP is buying Sam Lord’s Castle? Makes as much sense as the investment in Gems doesn’t it? Perhaps Royalrumble can educate us on the BLP’s experience with that investment.

  22. PiedPiper

    Comical in a way. The BLP makes Sinckler give back his big ride in order to appear “untainted” before they can “expose” the DLP for the same. Honestly, it’s like slapstick comedy. Was Sinckler the only one to accept favours from Clico or did the others just accept gifts that were less obvious?

  23. Knight of the Long Knives

    Take anything royalrumble says with a grain of salt. He/she is a proven liar. Look for independent verification.

  24. reluctant nonbeliever

    I really thought Thompson and co were going to be different.

    I remember how excited my wife and I were on election night. A new start, an end to corruption and croneyism. I really believed it could happen.

    Now I just feel like a naive fool.

    The bitter truth gets clearer every day:

    same trough, different pigs.

    😦

  25. livinginbarbados

    I suggest that you read what was actually written and it’s available on the IMF website. Simply put, it says that NIS sums don’t add up. They cannot meet their target with the investments they are making (mainly short term local securities) so for the sums to add up they need to look for alternatives (such as longer term and/or foreign investments), or (unsaid) they need to review the target for realism.

  26. livinginbarbados

    What Manzullo asked was a fair question, and Kaskari’s answer was a fair reply. I do not know any of the principals, but there is nothing to say that the AIG executive was not being paid for ‘success’ (depends on the terms) and also that he/she has a contract. Try to deny someone what they had been offered and accepted just because things change and you don’t like the current set up and you will see many people screaming ‘foul’. That’s moving the goalposts.

    It could be put to the executive that a good gesture would be to return the money but that’s a personal choice and nothing wrong has necessarily been done.

    As for Manzullo being an ‘honest’ man, choose your poison. He has a long reputation as a porkist, iet getting a lot of projects for his district into spending bills. Not sure if he thinks any of that was ‘excessive’ or wants to send any of that back to the taxpayers.

  27. Glenda Smith

    I agree with most of what you say, but you should also know that the bill for children’s healthcare was not voted against because he hates children, but because there was more in the bill they public did not know about (…called “pork”… sorry pigs!) This is the biggest problem we all have, there is NO transparency. No matter what Pres. Obama promises, the public will NEVER know where all this money goes, or what is in the huge “bailout” bill the De mocrat controlled congress just passed. The same argument goes for the so called windfall profits for oil companies. How do we really know what that involved? One thing we do know is that the stock holders and Wall Street folks got their fair share. Does that make it any better for the average tax payer? Of course not! But one thing I am afraid of is that with all the hate rhetoric against oil companies, and with China drilling for oil right off the U.S. coast, and Hugo Chavez run oil rich Venezuala, and with China being our biggest creditor and also rich in oil, we will have not oil. Do you know what that means? We will not be driving cars (they don’t make, and can’t make “green” cars that we can afford, or enough of them any time soon if we could). What will tractors to plow our fields to grow our food use to run on? I mean, we must THINK all of these through. When government is in control, we have no say in how much we are taxed, or how it is spent…so it has been going on for a long time…thanks to us who have been duped into thinking “Democrat” vs “Republican”, “oil vs green”, “rich vs poor”.

    By the way, the latter was the slogan the communist party used when it was conceived, which resulted in an historical blood bath, which resulted in the U.S.S.R. I see the U.S.A. becoming the U.S.S.A , if we don’t have the revolution our forefathers and writers of the U.S. Constitution planned for the future citizens of this nation.