sumosama

Citi's Destructive Potential Still Poses Systemic Threat

Yeah, and none of this has to do with Rangel's frequent lapses in ethics...or this article.


On Nov 26 04:17 AM investfarm wrote:

> Congressman Charles B. Rangel of New York, the first African American
> chairman of the House Ways and Means Committee, and a leading Democrat
> who represents the Franklin D. Roosevelt impulse inside the Congress,
> is the target of an ongoing British bankers-directed character assassination.
> The attack is nothing less than a British operation to shred the
> U.S. Constitution with an assault on Congress, in the midst of the
> worst financial crisis in history.
>
> That the attack--led by the {New York Post} and the {New York Times}--comes
> the same week as the Citibank bailout engineered by Treasury Secretary
> Henry Paulson is no accident. Despite all of Paulson's assurances,
> Citibank is just the first of many, many more mega-bailouts, and
> just like before, Rangel is being targetted because he is an obstacle,
> who threatens to block the financier schemes to impose fascist looting
> on the population, while doling out un-Constitutional bailouts to
> the speculators. In the summer of 2008, the unlimited bailout of
> Fannie-Freddie, announced by Paulson on Sept. 7, 2008, which is tantamount
> to treason, had been rejected by Rangel's committee earlier. Rangel
> and his committee limited Paulson's ``bazooka'' to $800 billion,
> and insisted on making it transparent, by raising the U.S. debt ceiling
> from $9.6 trillion to $10.4 trillion.
>
> Now, with the financial crisis escalating, so is the attack on Rangel.
> The {New York Post,} owned by the Queen's own Rupert Murdoch, relaunched
> its attack on Nov. 23, shortly after Rangel was renamed Chairman
> of the Ways and Means Committee. The financiers' cabal had hoped
> that Rangel would be purged as part of a Pelosi shakeup that ousted
> Rep. John Dingell (D-MI), the long-time head of the House Energy
> Committee. Many House members opposed the replacement of Dingell,
> including Rangel, who said, ``This is the burial of the seniority
> system. I would be surprised if I was challenged, for the same reason
> that Mr. Dingell was very surprised.''
>
> As in the Summer, 2008, the New York ``Post and Times'' assault on
> Rangel has been based on innuendo. On Nov. 23, the "Post and Times"
> reported supposed tax fraud where Rangel claimed a ``homestead''
> tax status for a home in Washington, D.C., but "the property was
> sold more than eight years ago'' and Rep. Rangel's accountant has
> been asked to "retrieve the records about it," said a spokesman.
> Then, on Nov. 25, the {Times} hit with their version of a heavy weapons
> attack--a front page story, with a full page jump, saying that Rangel
> favored legislation in 2007 that opposed retroactive tax increases
> for U.S. companies that registered offshore, and that this helped
> a company called Nabors Industries by preserving its tax shelter.
> Before and after the legislation, a Nabors executive gave contributions
> to a library at the City College of New York (CCNY), for which Rangel
> had requested charitable contributions from some 47 corporations
> reported the {Times}. But the Times admits that Rangel has strongly
> opposed legislation for retroactive tax increases.
>