News Americas, NEW YORK, NY, Fri. April 15, 2016: Again only in Obama’s America ….
Will you find the logical explanation for this article which appeared on the front page of the New York Times on Tuesday this week:
“In Settlement’s Fine Print, Goldman May Save $1 Billion.”
The Times is Clueless as you will soon read below. I am certainly NOT Clueless. Neither should you reading Obama’s America.
Once again it is all about Barack’s and Michelle’s After Life. Their retirement. They are NOT hiding it. See photo above ! This happy couple arriving for the most EXCLUSIVE ticket in America an invitation to a White House State Dinner – meet Goldman CEO Lloyd Blankfein and wife.
Why should you NOT expect Blankfein at a White House State Dinner. Let’s turn to The NY Times article for an explanation.
“State and federal officials said on Monday that Goldman Sachs would pay $5.1 billion to settle accusations of wrongdoing before the financial crisis.”
Really!!!! Now look what comes next …
“But that is just on paper. Buried in the fine print are provisions that allow Goldman to pay hundreds of millions of dollars less — perhaps as much as $1 billion less — than that headline figure. And that is before the tax benefits of the deal are included.”
LUCKY Goldman Sachs!
This is going to be one of those yin yang stories. And this week old reliable New York Times is my media partner EXCEPT they just don’t get it.
I am going to get to the punch line early especially since I want to catch the Great Debate tonight LIVE in Brooklyn – Hillary vs. Bernie! That in fact ties nicely into the Times story and this episode.
We can call it the Clinton Effect what the Obamas are chasing. Riches!
Back to the Times article ….
“The bank will be able to reduce its bill substantially through a combination of government incentives and tax credits. For example, the settlement calls for Goldman to spend $240 million on affordable housing. But a chart attached explains that the bank will have to pay at most only 30 percent of that money to fulfill the deal. That is because it will receive a particularly large credit for each dollar it spends on affordable housing.
Isn’t that a nice deal sweetheart… aka a Sweetheart Deal.
Get this from the White House FRIENDLY Goldman CEO …
“Goldman is the last of the major American banks to settle with the government. Past deals with other banks also contained some of these concessions, but Goldman appears to have negotiated an even sweeter deal on certain points. For all the banks, the credits suggest that the amounts that the banks will have to actually spend on consumer relief will be much lower than the numbers announced in the news releases.”
Got it Goldman is LAST to settle and got an even SWEETER deal. Thank God the others at least got a Sweet Deal too. Just sweeter for Goldman!
Let’s keep going …
“They appear to have grossly inflated the settlement amount for P.R. purposes to mislead the public, while in the fine print, enabling Goldman Sachs to pay 50 to 75 percent less,” said Dennis Kelleher, the founder of the advocacy organization Better Markets, referring to the government announcement. “The problem all along, with all of these settlements — and this one highlights it even more — is that they are carefully crafted more to conceal than reveal to the American public what really happened here — and what the so-called penalty is.”
Mislead the public … REALLY!!!!
This is the kind of Low Life treated ROYALLY at Obama’s White House.
I wonder why … we’re getting there. I will explain. The Times can’t.
Are you ready for this Sweetheart from The Times article …
“When asked about these differences, the Justice Department official said that the wrongdoing that the banks were accused of was different and, as a result, the negotiations took different courses.”
Like the different courses at a White House State Dinner Lloyd!
You want more don’t you?
“Over the course of 2006, Goldman employees took note of the decreasing quality of loans that it was buying, according to a statement of fact released along with the settlement. When an outside analyst wrote a positive report about Countrywide’s stock in April 2006, the head of due diligence at Goldman wrote in an email: “If they only knew.”
Then this piece of third rate comedy …
“Goldman said in a statement on Monday: “We are pleased to put these legacy matters behind us. Since the financial crisis, we have taken significant steps to strengthen our culture, reinforce our commitment to our clients and ensure our governance processes are robust.”
By the way keep reminding yourself NONE of these guys including Goldman CEO Lloyd Blankfein were ever indicted. Not one of them. Nobody at all went to jail for this stuff while Obama was President.
But let me stay on message. WHY the incredible leniency for these CRIMINAL financial industry firms and their bosses.
It’s just so simple and obvious but ONLY Obama’s America sees it or to be even more specific ONLY Obama’s America reports the reason.
BEGINNING right after January 20, 2017. Barack and Michelle are going to hit the Billion Dollar Lottery with large payments every year for the rest of their lives with payments both to their foundation(s) and for their personal bank accounts too not that there so much difference anyway.
And who is it that is going to fill these Obama PIGGY Banks … it is certainly not you and me at least not directly but it is going to be firms like Goldman Sachs who will return a portion of their “savings” to the Obamas.
So now do you understand why Lloyd gets invited to The White House?
He deserves his own personal stateroom there although what he should get …
Is a PRISON cell with the others. Fat chance of that happening!
President Barack Obama takes care of his “friends.”
About The Writer: Arthur Piccolo is a professional writer and commentator and often writes about Latin America for New Americas.