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Octafish

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Member since: 2003 before July 6th
Number of posts: 51,329

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Hillary Helped UBS—and Then the Bank Funneled Millions to the Clintons

UBS is a Swiss bank that is enjoying better days, thanks to the US taxpayer and a number of key US political leaders.





Hillary Helps a Bank—and Then It Funnels Millions to the Clintons

The Wall Street Journal’s eyebrow-raising story of how the presidential candidate and her husband accepted cash from UBS without any regard for the appearance of impropriety that it created.


by CONOR FRIEDERSDORF, The Atlantic, JUL 31, 2015

The Swiss bank UBS is one of the biggest, most powerful financial institutions in the world. As secretary of state, Hillary Clinton intervened to help it out with the IRS. And after that, the Swiss bank paid Bill Clinton $1.5 million for speaking gigs. The Wall Street Journal reported all that and more Thursday in an article that highlights huge conflicts of interest that the Clintons have created in the recent past.

The piece begins by detailing how Clinton helped the global bank.

“A few weeks after Hillary Clinton was sworn in as secretary of state in early 2009, she was summoned to Geneva by her Swiss counterpart to discuss an urgent matter. The Internal Revenue Service was suing UBS AG to get the identities of Americans with secret accounts,” the newspaper reports. “If the case proceeded, Switzerland’s largest bank would face an impossible choice: Violate Swiss secrecy laws by handing over the names, or refuse and face criminal charges in U.S. federal court. Within months, Mrs. Clinton announced a tentative legal settlement—an unusual intervention by the top U.S. diplomat. UBS ultimately turned over information on 4,450 accounts, a fraction of the 52,000 sought by the IRS.”

Then reporters James V. Grimaldi and Rebecca Ballhaus lay out how UBS helped the Clintons. “Total donations by UBS to the Clinton Foundation grew from less than $60,000 through 2008 to a cumulative total of about $600,000 by the end of 2014, according to the foundation and the bank,” they report. “The bank also joined the Clinton Foundation to launch entrepreneurship and inner-city loan programs, through which it lent $32 million. And it paid former president Bill Clinton $1.5 million to participate in a series of question-and-answer sessions with UBS Wealth Management Chief Executive Bob McCann, making UBS his biggest single corporate source of speech income disclosed since he left the White House.”

The article adds that “there is no evidence of any link between Mrs. Clinton’s involvement in the case and the bank’s donations to the Bill, Hillary and Chelsea Clinton Foundation, or its hiring of Mr. Clinton.” Maybe it’s all a mere coincidence, and when UBS agreed to pay Bill Clinton $1.5 million the relevant decision-maker wasn’t even aware of the vast sum his wife may have saved the bank or the power that she will potentially wield after the 2016 presidential election.

SNIP...

As McClatchy noted last month in a more broadly focused article that also mentions UBS, “Ten of the world’s biggest financial institutions––including UBS, Bank of America, JP Morgan Chase, Citigroup and Goldman Sachs––have hired Bill Clinton numerous times since 2004 to speak for fees totaling more than $6.4 million. Hillary Clinton also has accepted speaking fees from at least one bank. And along with an 11th bank, the French giant BNP Paribas, the financial goliaths also donated as much as $24.9 million to the Clinton Foundation––the family’s global charity set up to tackle causes from the AIDS epidemic in Africa to climate change.”

CONTINUED...

http://www.theatlantic.com/politics/archive/2015/07/hillary-helps-a-bankand-then-it-pays-bill-15-million-in-speaking-fees/400067/



About UBS Wealth Management

It's Buy Partisan

After his exit from the US Senate, Phil Gramm found a job at Swiss bank UBS as vice chairman. He later brought on former President Bill Clinton. What a coincidence, they are the two key figures in repealing Glass-Steagal. Since the New Deal it was the financial regulation that protected the US taxpayer from the Wall Street casino. Oh well, what's a $16 trillion bailout among friends?



It's a Buy-Partisan Who's Who:

President William J. Clinton
President George W. Bush Heh heh heh.
Robert J. McCann
James Carville
John V. Miller
Paula D. Polito
Anthony Roth
Mike Ryan
John Savercool

SOURCE: http://financialservicesinc.ubs.com/revitalizingamerica/SenatorPhilGramm.html

One of my attorney chums doesn't like to see his name on any committees, event letterhead or political campaign literature. These folks, it seems to me, are past caring.

Some of why DUers and ALL voters should care about Phil Gramm.



The fact the nation's "news media" isn't really following this story should also be of great concern -- for the 99-percent.

Great. If that's all done, they can get to work on solving the problems.

The problems are there. Unless we get cracking, we don't have a chance: the planet will go past the point of sustaining 99 percent of humanity. Just like Flint.

Yeah, "In like Flint," shee?



Heh. Heh. Heh.

The reason we have all the wars is to protect and grow the 1-Percent's Holdings.

Those bastards have killed hundreds of millions to keep their filthy position. Like Gen. Smedley Butler USMC put it: "War is a Racket."

Diana Johnstone wrote a new book on the subject and its impact on our recent politics:



...The book begins with a quote from George Kennan written in 1948... WWII had ended only a few years earlier, leaving the US on top of the heap and the rest of the major powers in ashes. Kennan wrote then, “We have about 50% of the world’s wealth but only about 6.3% of its population….In this situation we cannot fail to be the object of envy and resentment. (This resentment is certainly not surprising since the US and its fellow European colonialists and neocolonialists had gained that wealth by disposing of others, for example in the American Indian genocide, or by extracting from the “other” nearly cost free labor of others, for example, the Black slaves brought to the concentration camps of the South. jw) Our real task in the coming period is to devise a pattern of relationships which will permit us to maintain that position of disparity.”...

SOURCE: http://original.antiwar.com/john-v-walsh/2015/12/07/diana-johnstone-dissects-hillary-queen-of-chaos/



As WikiLeaks have shown, I don't think the government should have any business monetizing foreign policy by way of war. That's how Dulles Brothers, Nixon and the rest have done it, pretty much uninterrupted since 1947. It hasn't worked. At least, for the 99 percent of US citizens.

Is he a friend of William K. Black, too? He'd make a great AG as he knows what Fraud is.

Hillary, the Banksters Committed 'Fraud,' Not 'Shenanigans'

William K. Black
Huffington Post, 02/04/2016

Former Secretary of State Hillary Clinton, in her debate with Senator Sanders minutes ago, said that she went to Wall Street and told them to stop their "shenanigans." The context was that she was being asked to respond to the complaint that she was too close to on Wall Street billionaires. She had every incentive, therefore, to demonstrate how tough she would be on Wall Street.

In that context, the best she could muster was the pusillanimous "shenanigans." Here is a typical definition of that word with examples.

1. : a devious trick used especially for an underhand purpose
2. 2a : tricky or questionable practices or conduct --usually used in pluralb : high-spirited or mischievous activity --usually used in plural

Examples of SHENANIGAN
1. students engaging in youthful shenanigans on the last day of school
2. an act of vandalism that went way beyond the usual shenanigans at summer camp


Hillary cannot bring herself to use the "f" word in the context of Wall Street CEOs leading the largest and most destructive fraud epidemics in history - frauds that made them spectacularly wealthy. A few minutes later, Bernie said that "fraud" was Wall Street's business model.

SNIP...

Here is the reaction of another prominent official to the plight of the homeowners:

"Along with innovation came complexity, and complexity is the enemy of transparency. I had high school friends and grade school friends that got put into mortgages by unscrupulous brokers. Some lost their houses, and I spent time with them and looked at what they had been conned into accepting--they didn't understand what they were signing on for. It was despicable."

"Despicable." The person I am quoting is Hank Paulson, former head of Goldman Sachs, and Secretary of the Treasury under President Bush. Paulson is not by nature someone with great sympathy for the poor. Hillary urges us to believe that because she started as a lawyer for an NGO she has established that she is a person of exceptional empathy. But her 2007 speech to Wall Street was a direct test of character that she failed. Hank Paulson, the leader of the "Vampire Squid," won the test of reality and human sympathy and Hillary lost -- and it wasn't close.

Hillary could easily have gotten the issue correct by talking with Miller and Madigan to get the facts. Both AGs are leading endorsers of Hillary's campaign. Hillary did not investigate, she did not even take the step that Hank Paulson did and check with friends with real experience with foreclosures.

Hillary simply believed the banksters' myths about the crisis. She pronounced sentence on the people losing their homes who were the victims of the banksters' frauds. She implicitly cast the banksters as the victims of the homeowners. The best she could muster was to note that the banksters should have vetted the loans more carefully. What courage.

SOURCE: http://www.huffingtonpost.com/william-k-black/hillary-the-banksters-com_b_9164930.html

Who gets stuck with the tab for a war sold on lies?

How many dead? How many trillions?

And you defend those persecuting a journalist?

Jeez.

Hillary Is the Candidate of the War Machine



Words of wisdom:



Hillary Is the Candidate of the War Machine

by Jeffrey D. Sachs
Common Dreams, Feb. 5, 2016

There's no doubt that Hillary is the candidate of Wall Street. Even more dangerous, though, is that she is the candidate of the military-industrial complex. The idea that she is bad on the corporate issues but good on national security has it wrong. Her so-called foreign policy "experience" has been to support every war demanded by the US deep security state run by the military and the CIA.

Hillary and Bill Clinton's close relations with Wall Street helped to stoke two financial bubbles (1999-2000 and 2005-8) and the Great Recession that followed Lehman's collapse. In the 1990s they pushed financial deregulation for their campaign backers that in turn let loose the worst demons of financial manipulation, toxic assets, financial fraud, and eventually collapse. In the process they won elections and got mighty rich.

Yet Hillary's connections with the military-industrial complex are also alarming. It is often believed that the Republicans are the neocons and the Democrats act as restraints on the warmongering. This is not correct. Both parties are divided between neocon hawks and cautious realists who don't want the US in unending war. Hillary is a staunch neocon whose record of favoring American war adventures explains much of our current security danger.

SNIP...

Hillary's record as Secretary of State is among the most militaristic, and disastrous, of modern US history. Some experience. Hilary was a staunch defender of the military-industrial-intelligence complex at every turn, helping to spread the Iraq mayhem over a swath of violence that now stretches from Mali to Afghanistan. Two disasters loom largest: Libya and Syria.

Hillary has been much attacked for the deaths of US diplomats in Benghazi, but her tireless promotion of the overthrow Muammar Qaddafi by NATO bombing is the far graver disaster. Hillary strongly promoted NATO-led regime change in Libya, not only in violation of international law but counter to the most basic good judgment. After the NATO bombing, Libya descended into civil war while the paramilitaries and unsecured arms stashes in Libya quickly spread west across the African Sahel and east to Syria. The Libyan disaster has spawned war in Mali, fed weapons to Boko Haram in Nigeria, and fueled ISIS in Syria and Iraq. In the meantime, Hillary found it hilarious to declare of Qaddafi: "We came, we saw, he died."

CONTINUED w/links...

http://www.commondreams.org/views/2016/02/05/hillary-candidate-war-machine


Wars without end. Amen.

Their words condemn them.

Kafka's "In the Penal Colony" describes their souls.

I'd bet it's more than most Americans will make in their lives.



Here are a few slices of life from those who'd get a friendly return phone call:

Warren Buffett: He made $12.7 billion this year or ~$37 million per day; ~$1.54 million per hour; or ~$25,694 per minute.

Bill Gates: He earned $11.5 billion this year which works out to be ~$33.3 million per day; $1.38 million per hour; or ~$23,148 per minute.

Sheldon Adelson: The casino mogul earned $11.4 billion this year which means he made ~$33 million per day; ~$1.38 million per hour; or $22,946 per minute.

Jeff Bezos: He made $11.3 billion this year or ~$32.7 million per day; $1.36 million per hour; or ~$22,745 per minute.

Mark Zuckerberg: The Facebook founder made $10.5 billion this year or ~$30.4 million per day; ~$1.27 million per hour; or ~$21,135 per minute.

Masayoshi Son: He made $10.3 billion this year or ~$29.86 billion per day; ~$1.24 million per hour; or $20,732 per minute.

Sergey Brin: He made $9.3 billion this year which works out to be ~$26.9 million per day, $1.12 million per hour; or $18,719 per minute.

Larry Page: He made $9.3 billion this year which works out to be ~$26.9 million per day, $1.12 million per hour; or $18,719 per minute.

Lu Chee Woo: He brought in $8.3 billion this year or ~$24 million per day; ~$1 million per hour; or ~$16,706 per minute.

Carl Icahn: The billionaire investor made $7.2 billion this year, which works out to be ~$20.87 million/day; ~$869,565/hour; or ~$14,492/minute.

SOURCE: http://www.businessinsider.com/what-warren-buffett-makes-per-hour-2013-12

So, a billionaire makes about as much as the average schmuck working three part-time, minimum wage jobs for a year, per minute. Then, they move it offshore. Ask the Waltons and DeVoses and Kochs: It's all legal.

BAe is British Aerospace, who've a history of bribing Saudi princes, American pols and such.

Bandar Bush put a stop to such talk.

BAE: secret papers reveal terror threats to Britian from Saudi prince

The great DUer Ichingcarpenter started a monster of a thread on the BAe story. Mitch McConnell is one of the nice people involved in yet another story that dropped from Corporate McPravda's radar: http://www.democraticunderground.com/?com=view_post&forum=1002&pid=4250984

Really? I remember when Democrats supported the New Deal.

Nowadays, they work to remove the New Deal protections from banksters and what not. Case in point:

The repeal of Glass-Steagall in 1999 spelled disaster in the 2008 Bankster Bailout.

The Democratic president who signed it into law was working in a spirit of bi-partisanship with his Republican Senate colleague to encourage new areas of banking by deregulating the financial industry cough gutting the New Deal protections of the Wall Street casino from using taxpayer-backed bank deposits.

See if you can spot some familiar names on this list:



They now work together at UBS -- which received uncounted billions in bailout money -- to specialize in some kind of "Weath Management."

PS: Forensic economist and former Fed regulator William K. Black wrote it reminds him of what happened during the Savings and Loans Crisis of the late 80s and early 90s. It was the greatest bank heist in history, until the Banksters of 2008, which were made possible by you know.



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