The Cody Word
  • December 15, 2008 12:12 PM EST by Cody Willard

    Illuminating the Illuminati: Charles Schumer and Barney Frank Are Owned By The Big Banks

    Here's a winning formula for our society, wouldn't you agree? Let's entrust our politicians to regulate an industry, then have the heads of that industry become the bureaucrats who are entrusted to carry out those regulations, and when things go wrong from all that cronyism, let's have give tons of welfare money to the giant corporations in that industry which can then use that money to donate to their politicians who can then win votes to continue to regulate that now insolvent industry.

    The executives and managers at Citigroup (C), Goldman Sachs (GS), Bank of America (BAC), Morgan Stanley (MS) and the rest of the big Wall Street corporations -- including Chuck Prince and Hank Paulson -- lied to all of us for years about the value of their assets. A lot of those guys who used to run the banks are now charged with regulating and/or doling out trillions of dollars in welfare to their former partners. Yeah, these bankers sucked trillions of dollars in "earnings" built upon those lies out of the economy and instead of saving those trillions for a rainy day when their lies stopped working, they paid themselves and a few of their closest friends most of that money in bonuses and salaries.

    And who was "regulating" all of this gamesmanship? Your socialist Republican/Democrats, of course. Including Barney Frank and Chuck Schumer.

    These are the same guys that you think are going to fix the mess they and their cronies have created. Why do I call Frank and Schumer and the banking industry a bunch of cronies?

    Let's think this through for a minute here....Charles Schumer has taken in more than $6 million in donations from the bankers on Wall Street. Then Schumer takes a trillion dollars of welfare money that could have gone to feed starving children in West Virginia, and instead, gives that welfare to these same bankers, who I continue to point out should be in prison for either fraud or criminal negligence, who "donated" him $6 million.

    Now that Citigroup and the rest of the companies who have destroyed our economy didn't get shut down and broken apart and punished badly for their crimes, but instead have been able to restock their balance sheets with the welfare they just got, they'll be able to continue to "donate" millions to the very guys who were supposed to have stopped them from destroying our economy (and should be fighting to punish the crooks now)....

    Any donations to any politician from any bank or company or industry that's gotten welfare payments should be immediately suspended and donated to the US budget deficit. After all, without the welfare from the government these companies wouldn't be able to "donate" to the politicians who then give them the welfare they've just received from the politicians they just donated to.

    --

    And then of course there was last night's puff piece on Barney Frank from CBS' 60 Minutes last night. Does it make you sleep better at night knowing that yet another Harvard grad who's spent 14 terms (count 'em baby!) supposedly regulating the investment banks which have destroyed our economy through their fraud and incompetence is on the job still? Surely it makes you feel better to know, at least, that despite have taken countless donations from Fannie Mae (FNM) and Freddie Mac (FRE) and even having an ex-lover who was a Fannie Mae executive, he was right on top of regulating this company until it shocked him with its collapse this year.

    And certainly you'll sleep better tonight knowing that, according to CBS's Lesley Stahl that "It's no wonder that when "saber tooth" the liberal [Frank] took over the committee that oversees banking, Wall Street shuddered. But two years later, even the most hardened Republicans give him good reviews."

    In the two years he's been overseeing the banking industry, it's utterly collapsed and been nationalized and we've even had to give trillions in welfare to the banking industry itself. Who's giving this "good reviews"? Oh, that's right, the same banking industry and its cronies...

    Listen to what the financial community says: "Here’s Henry Paulson on Barney Frank: 'He’s a market savvy pragmatist who looks for areas of agreement because he wants to get things done.' Here's a guy from JP Morgan Chase. He said, 'He hasn’t veered off into crazyland.' Meaning liberalism. I've heard someone describe you this way. You're liberal on social issues. You're a pragmatist on economic issues," Stahl remarks.

    The guy at JP Morgan, which just received billions in welfare payments from Barney and Paulson doesn't think rewarding those crooks like himself who have destroyed our economy with their lies and incompetence doesn't think that's "crazyland". Hellooooo?! Earth to JP Morgan exec!

    You guys thought I was joking about calling these bankers and the politicians they obviously own the "Illuminati". Here's a definition of Illuminati:

    Illuminati - individuals who are part of a secretive, historical organization that is comprised of mostly influential members with political and/or financial clout.

    Schumer, Frank, Paulson, Bush, McCain, Palin, Pelosi, Obama and every single other politician and bureaucrat who has taken money from these crooks/insiders/bankers and then gave welfare money to these crooks/insiders/bankers are part of the problem. They are, by definition, part of the Illuminati.

    I repeat -- Any donations to any politician from any bank or company or industry that's gotten welfare payments should be immediately suspended and donated to the budget. After all, without the welfare from the government these companies wouldn't be able to "donate" to the politicians who then give them the welfare they've just received from the politicians they just donated to.

    PS. Let's shoot for some levity? Complete one or both of these lines and post your answers in the comments area of my blog --

    How do you tell the difference between a bureaucrat and an investment banker?

    How do you tell the difference between someone who survives on Medicaid and someone who survives on TARP?

    Survive this economic revolution at http://RevolutioNewsletter.com
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hadenuf

A democrat who is a crook gets by with it. They face the public daily on Tv acting the pious, good (sugar wouldn't melt in their mouth) types, and are ripping of the taxpayers, taking money hand over fist and acting like public servants. Note I said "acting." I can't believe anyone with a conscience, who knows they are guilty as hell, could face the public. Folks, we have crooks in our congress and now they are in charge of "fixing" the mess they themselves created?????? They need to return the money they have taken, not donating it to charity. It should go to make the investors whole, much like the Fannie and Freddie windfalls should. We need a legal system that cuts people like this off at the knees, not defend them. As taxpayers, we are their saps.

December 17, 2008 at 10:37 am

moving

I want to know when I/we “the taxpayers” who were forced in buying equity shares and providing liquidity to these banks, investment banks, and insurance conglomerates will get our shares delivered to us. I/we were told these actions were taken on our behalf to protect us from the collapse of the financial system and that it was a great ideal because the government (who is using our money or obligating us to pay for this in the future through borrowing money or our behalf) to “invest” in these institutions because in the long run these investments would pay off and we would make a profit. Well since I was forced into “investing” in these companies I would like my shares in the companies sent to me so I can sell them and make a “profit” for myself when the market turns (I don’t care If I only own a fraction of a share or one share send it to me). Oh and when you decide to bail out the auto industry as well send my shares in those companies as well….or how about this…don’t give force me/us “the taxpayer” to invest in these companies through the power of the government and allow us to make that decision for our selves.

December 17, 2008 at 10:15 am

Chuck

I completely agree with everything you have written. In broad daylight, the US taxpayer has been ripped off for trillions - and the American people and press allow this to happen because we are acting like victims and cowards - we are literally standing by and watching our future taken away by corrupt people who should all be in jail. Socialism for the rich, capitalism for the poor. America needs a wake-up call and I think this article is saying what we all need to hear. Someone has finally stood up and shown some courage. Excellent article.

December 16, 2008 at 9:34 pm

aaron

Remember the kids in school who wore the eye patches? They were said to have a condition called a 'lazy eye' and the patch was put over the good eye to make the lazy one work harder. Shumer and Frank were both born with lazy tongues. They were told to talk a lot and they would get over it. Shumer got over his but Frank didn't. However the childhood habit of talking all the time remains for both as neither knows how to STFU. POLITICIAN: a person who wants to be a celebrity but lacks any recognizable talent or special ability.

December 16, 2008 at 1:33 pm

Patrick Norton

In 1989 a *Penthouse* article called "Snowbound." American media continued to ignore, if not ridicule, the Mena accusations. Finding no conspiracy in the Oachitas last July a *Washington Post* reporter typically scoffed at the "alleged dark deeds," contrasting Mena with an image as "Clandestination, Arkansas. Cloak and Dagger Capital of America." Noting that *The New York Times* had "mentioned Mena primarily as the headquarters of the American Rock Garden Society," the *Columbia Journalism Review* in a recent issue dismissed "the conspiracy theories" as of "dubious relevance." Just reminding you Cody of Barry Seal the covert C.I.A. operative extraordinaire and his brutal death in 1986. Seal's legacy includes more than 2,000 discovered documents; all involved who were not part of the Illuminati ended up dead, even two teens walking along the train tracks. Individuals who are part of a secretive, historical organization that is comprised of mostly influential members with political and/or financial clout. You forgot about their hired gunmen! The last victim was U.S. ... Sen. Paul Wellstone, 1944-2002 who threatened to blow the whissel. Watch your back my friend!!!

December 16, 2008 at 1:29 pm

Lemmy_IS_God

I can only assume that the American people are closet sadomasochistic types who enjoy being beaten into submission. What other explanation could you have for leaving the Democrats and Republicans in charge? They've looted the Treasury,assaulted the Bill of Rights,and ignored warnings regarding criminal behavior that resulted in significant damage to our country. Our response to this? Re-election. We have no one to blame but ourselves. A nation or world of people who will not use their intelligence are no better than animals who do not have intelligence. Such people are beast of burden & steaks on the table by choice & consent.

December 15, 2008 at 9:55 pm

Scott

Hi Cody, I wrote a little piece today called "Time to Bring Water Boarding to Wall Street?". I thought you might get a laugh out of it. It goes a little something like this: The SIPC has said they're going to liquidate Bernie Madoff's brokerage firm in an effort to recover some of his customer's money. It's time to get tough. If we want to find all of the money likely hidden in offshore accounts, it may be time to bring water boarding to Wall Street, starting with Bernard Madoff. On that note, I'd bet that many of those opposed to using such techniques on terrorists would suddenly experience a change of opinion on the practice. On Blagojevich:. This guy strikes me as a "singer". He may not have many people to bring down on this particular scandal but unless he came out of nowhere and became Governor overnight, I'll bet he has a great deal of dirt on many Illinois politicians on many levels. Judging from Obama's veritable litany of scumbag associates, he probably has something unrelated on Obama. That may be why Obama is handling with care. I think that if Blago is facing prison, he would likely take as many with him as possible. That leads me to my PREDICTION. I predict that if he is going to face serious prison and is about to start running his mouth too much, Blagojevich ends up catching SSS (Sudden Suicide Syndrome). MrArbitrage www.SenatorDitka.com

December 15, 2008 at 9:41 pm

joebhed

A lot of comments are aimed at the government's $700 BILLION bailout of the banking and financial services industries. I think about half of which has been spent. On the private banking side, which is also acting to the same purpose as the government to prevent a financial collapse, the federal reserve bank has securitized, if you will, the American taxpayers to a much larger, and much more secretive, bunch of debts. Probably ten times more. And, it's impossible to even know the value of those loans as the assets are not subject to public review. So, why all this crying about the governnment ripping off the taxpayers? The private federal reserve banks have seen fit to mortgage the future of the grandkids of today's taxpayers. Why isn't anyone up to that problem?

December 15, 2008 at 9:04 pm

nor

Anglo MA I will join you in a letter writting campaign. Have already started but to no avail yet. Will continue. Best of luck with your house and a job for your husband. Come on America. We can turn this thing around if we will just get involved.

December 15, 2008 at 6:28 pm

hks

Cody, Thanks for your observations. I watch your show and read your blog to 'hear' a voice of sanity. I fear we are on a path that will be difficult to change in the short term. If you have ideas on how to effectively stop this train - please share. We know there will be consequences from the governments actions and likely not positive. It is not too early to start discussing a long term strategy with short term actions we the people can execute to get our country back. I propose there is still power in the vote and would really like to see a block of like minded citizens willing to serve run for office. How about it Cody - help sponsor the first conference of a new party...and let's elect people for the people by the people.

December 15, 2008 at 6:17 pm

Aglo MA

Nor and people who want positive message. We need positive messages. I am looking for it in the news every day but can't find it. How long is this going to last? Well, I am about to loose my house after my husband lost his job. AND I am not just going to sit and wait for it. I am sending letters to ALL in congress, to all in senate. IF ALL AMERICANS WOULD DEMAND ACTION - IF ALL AMERICANS WOULD SHOW THAT ENOUGH IS ENOUGH - please belive me, even old politicians will need to do something. As long we all say 'I can't change the system' then the system will stay the same. Wake up people! Call the senators, call the congressman/women and ASK / DEMAND action for the American people. WE ARE BEEING TAXED FOR GERERATION into the future so CITI can recieve our tax money so they can stay in business to take our houses and fill America w. homelessnes! How screwd up is that??

December 15, 2008 at 5:49 pm

Ra King

Mr. Willard I wish to side step your article somewhat. Instead of people worrying about a persons IRS records prior to being elected to office, I suggest it should be known who belongs to the secret societies and some not so secret, that are for a one world government, and a one world bank. I think these members would pop up in the arenas you are highlighting here.

December 15, 2008 at 5:42 pm

CAG

I agree with JAF with regards to Palin. I don't see how you can include her here unless you lump in the contributions to the Presidential campaign. But I think that should be put on McCain. As far as the rest of this goes, I agree completely! The bottom line is that until we are able to break the lock hold these two parties have on Washington we are screwed.

December 15, 2008 at 5:38 pm

The J

I agree with JAF that Palin wasnt given the oppotunity to get banking money. I doubt she would refuse it and the point was that this isnt a this ideology vs that ideology issue, it crosses the borders of political parties. You cant only condemn one party. Difference between surviving on Medicaid and TARP - Medicaid patients dont take their limo or private jet to the Medicaid office to pick up their check then give a large percentage back to the beurocrat that just handed him the check. Although I did once watch the ODB take his limo to the welfare office while drinking crystal to pick up foodstamps.

December 15, 2008 at 4:30 pm

Eric W

The United States has the dumbest voters in the world. Schumer and Frank are returned to office time and again by the folks in New York and Massachusetts respectively. Both men are crooks and should be in jail yet the people blindly pull the voting machine levers for these two dopes. It is truly amazing!

December 15, 2008 at 4:24 pm

mwig

something needs to happen, way too much cronyism going on, Paulson always seems to me that he feels like he is above questioning, just take his word and don't ask questions. Frank has been and always will be a complete loser, I see him and think "moron". But as long as we have thousands of people with an entitlement attitude, he and other liberals will continue to get re-elected.

December 15, 2008 at 4:22 pm

M

BAD CODY !!! BAD CODY !!! Watching CBS ??????? Surely the tuner on your TV must get other channels. Vince selling SHAM WOW , makes for better television. ( By the way.., why is it that Vince keeps saying " we can't do this all day " ? ). But back to business. What I observe, is that once a Democrat gets elected, he/she doesn't want to hear from you again..,UNLESS you agree with their position.NOBODY wanted to bail out Wall Street.., but who was in charge of Congress and went ahead and did as THEY pleased ? People oppose bailing out Detroit.., and what party controls congress that is going to go ahead and get it done DESPITE what YOU want. ( Don't ask me why BUSH is getting involved. Maybe Joe Lieberman talked him into becoming a lame duck Independent ). My point is, the REAL problem , is that those elected don't fell ANY obligation to "represent". Once elected, the position is theirs to do with as they please. THAT'S what's wrong.

December 15, 2008 at 4:19 pm

JAF

Uh, what money has PALIN ever taken as Governor of Alaska from the mortgage companies?!! If anything she destroyed her fellow corrupt Republican politicos in Alaska and she lives in a middle class house outside of Juneau. It is just wrong to include her as part of the illuminati like the other scoundrels..

December 15, 2008 at 3:51 pm

Trader55

The only thing that will bring this corruption to an end is a tax revolt. Stop sending them money. A radical idea, but fixing the system from within isn't really working out.

December 15, 2008 at 3:42 pm

nor

When is someone going to get positive? All anyone wants to do is make sure that our country is driven down as far as possible. What ever happened to the enthusiasim we had during WWII with songs and speaches of hope for our country. If the media and the incompetents in charge of all this continue to try to convince the American public that we are going to fail......guess what?????.....we will. Someone please come forward and encourage us to hang in there and do what we can as individuals to help our country out of the perseaved mess.

December 15, 2008 at 2:51 pm

Andy

“How do you tell the difference between a bureaucrat and an investment banker?” Honestly, you can't tell the difference because they both spew the same BS and steal from the taxpayers. “How do you tell the difference between someone who survives on Medicaid and someone who survives on TARP?” One has to eat cat food and imagine it is steak the other feeds their cat steak (guess who is who).

December 15, 2008 at 2:33 pm

Charlie Bravo

Cody misses an important point. The Bush administration repeatedly tried to reign in FNM and FRE as early as 2003. But Barney Frank, Chris Dodd and other democrats repeatedly dismissed the allogations that the two were out of control and instead attacted and impuned the regulators. That speaks volumes about their motivations. Now Barney is surprized? I guess we know what the B.S. stands for in CBS.

December 15, 2008 at 2:22 pm

Blake

All of these SOBs in Congress need a reality check: The receiving end of a swift kick in the butt. What are we doing here? We are falling apart and no one is minding the store. ATTENTION AMERICA: We are getting screwed by our federal government. Unless we take measures soon to remove these idiots, we better figure out a way to live very austere lives.

December 15, 2008 at 2:15 pm

33rd Degree E

Not good at punch lines...but next time he's on Happy Hour, maybe you could ask Mortimer Zuckerman, Chairman, U.S. News and World Report and Trilateral Commission member some questions regarding his ties with this historical organization comprised of mostly influential members with political and/or financial clout. In hindsight, last week's Happy Hour interview seemed to be somewhat of a puff piece. I agree with the ideas you set forth, I would just like to see someone take it to the next level when given the opportunity.

December 15, 2008 at 2:03 pm

David Bloomburg

Can't you take the exact same commentary and apply it to the bailout of the U.S. Auto makers....by Pelosi? It's simply payback time for the initial money used in the campaign... I liken the Automakers to the movie "Weekend at Bernies". Only GMAC will be playing the part of Bernie.. Congress will be the guys propping Bernie up as though he was alive with bailout money. And we'll be playing the part of the party goers who don't really realize that Bernie is dead (so congress thinks...)

December 15, 2008 at 1:50 pm

about this blog

  • Cody Willard is an anchor on the FOX Business Network. Willard is also the principal of an investment management company. He was a long-time featured columnist for the Financial Times and TheStreet.com as well as a regular featured economist and stock picker on CNBC's ''Kudlow & Company."

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