Financial industry paid millions to Obama aide

from MSNBC

Lawrence H. Summers, the top economic adviser to President Obama, earned more than $5 million last year from the hedge fund D. E. Shaw and collected $2.7 million in speaking fees from Wall Street companies that received government bailout money, the White House disclosed Friday in releasing financial information about top officials.

Mr. Summers, the director of the National Economic Council, wields important influence over Mr. Obama’s policy decisions for the troubled financial industry, including firms from which he recently received payments.

Last year, he reported making 40 paid appearances, including a $135,000 speech to the investment firm Goldman Sachs, in addition to his earnings from the hedge fund, a sector the administration is trying to regulate.

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(team Obama has allowed his banker buddy staff to create a way to avoid the oversight that congress is writing into the new Bailout scheme by letting them set up shell companies to give the money to, and then they will pass it out to the financial institutions!!! A FUCKING SHELL COMPANY SCAM BEING RUN…. BY OUR FUCKING GOVERNMENT!!!!!!)

U.S. aims to help firms sidestep bailout rules

Obama administration seeks to avoid restrictions, including limits on pay

from MSNBC

The Obama administration is engineering its new bailout initiatives in a way that it believes will allow firms benefiting from the programs to avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials.

Administration officials have concluded that this approach is vital for persuading firms to participate in programs funded by the $700 billion financial rescue package.

The administration believes it can sidestep the rules because, in many cases, it has decided not to provide federal aid directly to financial companies, the sources said. Instead, the government has set up special entities that act as middlemen, channeling the bailout funds to the firms and, via this two-step process, stripping away the requirement that the restrictions be imposed, according to officials.

Although some experts are questioning the legality of this strategy, the officials said it gives them latitude to determine whether firms should be subject to the congressional restrictions, which would require recipients to turn over ownership stakes to the government, as well as curb executive pay.

The administration has decided that the conditions should not apply in at least three of the five initiatives funded by the rescue package.

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Serious Problems With Jim Hoffman’s “A Hypothetical Blasting Scenario ” Makes His Recent Essay Far From “Plausible”

by Scott Creighton

Jim Hoffman has just published his essay ” A Hypothetical Blasting Scenario:  A Plausible Theory Explaining the Controlled Demolition of the Twin Towers Using Aluminothermic Incendiaries and Explosives with Wireless Ignition Means” in time for it to coincide with the new Jones et al piece, “Active Thermitic Material Discovered in Dust from the 9/11 World Trade Center Catastrophe” and quite frankly, Hoffmans work is structurally unsound.

I don’t want to get too far into a critical review of Hoffmans work till I can wrap my head around what Jones’ paper concludes and that is mainly because Hoffman’s efforts are largely based on giving what he thinks is a practical application for the hypothesis of aluminothermic controlled demolition of the Trade Centers.  Clearly understanding more about the new Steven Jones work is key to validating Hoffman’s theory.

I am currently working through the Jones effort as you will see in a moment.

But Hoffman’s “Plausible” theory is a horse of a different color. It would appear that he may have been too eager to get a working demolition theory out there at the same time Jones released his research.

His “Plausible” theory and his conclusions need a lot more work.

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