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Wall Street Banksters doth protest too loudly.....

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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-25-09 03:44 PM
Original message
Wall Street Banksters doth protest too loudly.....
Edited on Thu Jun-25-09 03:44 PM by marmar
:cry: :nopity:



Is the orchestra ready.....? :nopity: :nopity: :nopity:



Wall Street Begins Campaign to Thwart Populist Overreaction
By Robert Schmidt


June 25 (Bloomberg) -- Wall Streets largest trade group has started a campaign to counter the populist backlash against bankers, enlisting two former aides to Treasury Secretary Henry Paulson to spearhead the effort.

In memos of confidential meetings with top financial executives, the Securities Industry and Financial Markets Association said it began this month the execution phase of the operation, which pledges to embrace change and accountability. The plan targets policy makers and the media in New York, London, Washington and Brussels and calls for a city-by-city, grass roots approach.

The securities industry must be perceived as part of the solution, which will allow it to better defend against populist overreaction, the documents, prepared for a June 17 meeting of SIFMAs board, said.

The board meeting minutes and staff-written papers, obtained by Bloomberg News, outline the program crafted by polling, lobbying and public relations companies paid at least $85,000 a month. The memos provide a glimpse, in often candid language, into how Wall Street is grappling with its pariah status.

It is imperative that in this historic period of reform, the industry be recognized as playing a positive role in seeking change and providing solutions to the problems we face, one of the documents said. There is currently widespread skepticism about the industrys commitment to this needed change. .........(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aNB...




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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-25-09 03:47 PM
Response to Original message
1. I posted this on abother board about this same subject
Wall Street Begins Campaign to Thwart Populist Overreaction

------------


OVERREACTION?!





















They can go fuck themselves!
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onethatcares Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-25-09 04:36 PM
Response to Reply #1
2. Amen.
I share your sentiments entirely.
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Greyhound Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-25-09 04:37 PM
Response to Original message
3. K&R, but dropping like a rock as usual.
Kind of sad, really.
:kick: & R

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Zorra Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-25-09 04:56 PM
Response to Original message
4. "Execution Phase"? If I were a Wall St. Bankster, I'd change that phrase.
Sounds like a bloody period from the populist French Revolution.
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Marr Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-25-09 05:08 PM
Response to Original message
5. Wait a minute-- they're using *our* money to convince us that they need *more* money?
Edited on Thu Jun-25-09 05:09 PM by Marr
"At least $85k a month" on PR efforts?
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