Monday, May 9, 2016

Mutiny: Wall Street Vultures Swoop In to Install Biden and Ryan as Duopoly Candidates

Democratic and Republican Elites Reject Voters’ Choice and Conspire to Deny Clinton and Trump Nominations

What do Hillary Clinton and Donald Trump have in common?  Both are front runners in their respective parties and both are despised by the banking vultures who intend to overturn the will of the voters.

Veep Joe Biden and Speaker Paul Ryan have served their Wall Street masters well and their masters will not allow Clinton or Trump to take control of the parties they have bought through campaign contributions. 

Contributions that have awarded the vultures dream legislation like Biden’s 2005 Bankruptcy Protection Bill and Ryan’s budgets that cut government to breathtaking levels and created the derivatives cash cow charter school system.

Paul Ryan made clear on CNN that he does not support Donald Trump as the GOP candidate for President unless Trump embraces the “conservative agenda” that Ryan espouses.

Ryan is meeting with Trump this week to persuade Trump to abandon the Trump agenda and continue the punitive Wall Street endorsed “conservative agenda.”  Some of the points of contention are:

·        Trump wants to raise taxes on the wealthy but Ryan wants more tax cuts for the rich
·        Trump rejects the Trans Pacific Partnership Agreement that Ryan supports
·        Trump is for opening relations with Cuba which Ryan says “legitimizes a tyrannical dictatorship”
·        Trump agrees that federal funding for Planned Parenthood be cut, but Trump feels the agency delivers important women’s health care screenings and services. Ryan supports complete denial of funds and backs a panel to investigate the discredited “fetal tissue sales” allegations.
·        Trump opposes Illegal Immigration and wants to build a wall whereas Ryan backs granting legal status for some illegal immigrants.
·        On minimum wage Trump has expressed his belief people need “something you can live on” and Ryan opposes any raise in minimum wage
·        On Social Security Ryan favors raising the eligibility age, lowering benefits and privatization while Trump outright rejects any cuts to entitlement benefits or privatization.
·        Trump says the government could save billions allowing Medicare to purchase medications in bulk while Ryan demands keeping the ban on Medicare negotiating drug prices

Ryan is already lining up dark money to fund a Ryan candidacy.  PR Watch is reporting that Ryan not only has released videos that look like campaign ads but he is running his own "parallel platform," and fundraising with major GOP donors.  

An unnamed source "close to" the Koch brothers told the Huffington Post that Charles Koch believes Ryan is a "shoo-in" for the nomination at a brokered GOP convention. Koch Industries has long been one of Representative Ryan's top contributors, and now is one of Speaker Ryan's biggest boosters.

This quarter, the Koch's are helping to fuel his staggering $17 million war chest, reports Politico. Charles Koch, CEO of Koch Industries, and his wife gave his "Team Ryan" fundraising vehicle $488,400 in March alone; Koch Industries gave $71,000.

At the same time Ryan as is sabotaging Donald Trump’s candidacy, Vice President Joe Biden is working behind the scenes to prepare to “step in” should Democratic frontrunner Hillary Clinton be indicted by Obama and Biden’s FBI. 

It was reported in the New York Post March of 2015 that the White House was behind the leaks of the investigations of Hillary Clinton’s State Department. The duopoly is fomenting rumors of an inevitable indictment against Clinton coming from the FBI whose Director, James Comey is a holdover from the George W. Bush Administration.

In February of this year Newsbusters reported that Bill Bartmann, a Democratic insider "emailed dozens of fans of Vice President Joe Biden on Friday, urging them to remain prepared to donate if Biden jumps into the (presidential) race."

So who is Bill Bartmann and who are these “fans” of Joe Biden that are greasing the skids for a Biden presidential bid, skipping the primary race?

In 2011 Forbes wrote an article called “Return of the Billionaire Huckster”, that huckster being Bill Bartmann.  Bartmann built one of America’s biggest fortunes turning credit card debt into creative Wall Street securities.  Forbes put it this way:

Bartmann owned and ran the nation’s biggest debt collection company, Commercial Financial Services, raking in huge profits courtesy of people with overdue credit card bills and then turning that debt into a Wall Street chit. But after his partner confessed to inflating collection rates at his agency, Bartmann lost his fortune, his company and his reputation. He barely avoided the slammer.

Hmmm, so who are these fans that are ready to plow money into a Biden campaign?

One of the donors Bartmann reached out to was vulture hedge fund manager, Gary Hindes.  It was reported by that Hindes’ Fallen Angels Fund buys deflated securities at discounted prices then fought against government bailouts of the securities so he could make a killing on the debt he bought for pennies on the dollar.

Hindes is currently suing the Federal Housing Finance Agency and the U.S. Treasury, alleging that the government stripped Fannie Mae and Freddie Mac of more than $100 billion to repay taxpayers for the government bailout.

Hindes filed a complaint along with investor David Jacobs, in U.S. District Court in Delaware and have retained lawyer Myron T. Steele, who from 2004 to 2013 was chief justice of Delaware, the nation's preeminent jurisdiction for ownership and securities disputes.

Other shareholders have actions seeking billions in compensation and if the courts take the investors' side and award fat damages, Congress may decide it's time to cut the government's ties to Fannie and Freddie.

Another donor, Patrick Baskette was former special assistant to Senator Biden.  Biden, whose entire career was funded by the banking industry more specifically credit card giant MBNA is responsible for some of the worst financial legislation in history.

A couple of the most egregious of the bills that Joe Biden sponsored were the 2005 Bankruptcy Bill that is responsible for the $1.2 trillion in unforgiveable student loan debt and the 1990’s crime bill that has resulted in the massive for profit industrial prison complex.  The International BusinessTimes reported extensively on Biden’s tawdry Senate career.

Biden began his career at age 29 winning his senate seat with the backing credit card giant MBNA and quickly rose to gain a seat on the Senate Judiciary Committee that oversees bankruptcy legislation. Over the span of Biden’s career he received $1.9 million in campaign funding from the financial industry.

In 1977 Biden began arguing that students were filing bankruptcy right after graduation to avoid repayment of student loans.  Although a GAO report repudiated those claims and found that less than 1% of student loans were erased in bankruptcy, Biden was able to get the bankruptcy legislation through. 

The bill prohibited students from seeking bankruptcy protection for government-sponsored loans until 5 years after graduation.

By 1984 Biden had seniority on the Judiciary Committee passed a bill that extended the student loan bankruptcy exemptions to include loans for vocational schools and the bill was signed into law by President Reagan.

In 1990 Biden was the chief sponsor of the 1990 Crime Control Act that toughened criminal sentences.  Included in Biden’s bill were provisions that lengthened the amount of time debtors would have to wait before they could access traditional bankruptcy protections for their federal and non-profit student loans.

By 1997 President Clinton could see the damage done to students by Biden and his Judiciary Committee and appointed a federal panel that recommended Congress reverse the changes and make student loans dischargeable in bankruptcy court.  But Biden and Congress defied Clinton and made it even harder for students to get bankruptcy protection.

In 1998 Biden and his ilk passed a law that would LIMIT bankruptcy protections for students experiencing “undue hardship” caused by their student loan debt burden.

In 2000 Biden became the prominent Democrat in support of a bankruptcy bill that would even further restrict bankruptcy protections.  While Biden was pushing through the 2000 bankruptcy bill, Biden’s son Hunter fresh out of law school was hired as a consultant by MBNA.  But that wasn’t all MBNA bought Biden’s Delaware home in a sweetheart deal. 

Biden’s 2000 bill contained a provision prohibiting bankruptcy protection for educational loans from PRIVATE FINANCIAL FIRMS. President Clinton ultimately vetoed the bill after First Lady Hillary Clinton pressured him to reject the legislation.

After George W. Bush, whose major financial backer in his 2000 Presidential bid was MBNA, was installed in office after the Supreme Court overturned the will of the voters. Biden quickly revived his bankruptcy bill, now as a co-sponsor.  As reported in The Daily Kos:

After numerous amendments and 20 roll calls, Clinton said she would vote for the bill.

Senator Clinton: I rise today in support of final passage of S. 420, the Bankruptcy Reform Act.  Many of my colleagues may remember that I was a strong critic of the bill that passed out of the 106th Congress…

While we have yet to achieve the kind of bankruptcy reform I believe is possible, I have worked with a number of people to make improvements that bring us closer to our goals, particularly when it comes to child support.

Women can now be assured that they can continue to collect child support payments after the child’s father has declared bankruptcy. The legislation makes child support the first priority during bankruptcy proceedings…

Earlier today, this body agreed to include a cap on the homestead exemption to ensure that wealthy debtors could not shield their wealth by purchasing a mansion in a state with no cap on homestead exemption.

In addition, I was concerned about competing nondischargeable debt so I worked hard with Senator Boxer to ensure that more credit card debt can be erased so that women who use their credit cards for food, clothing and medical expenses in the 90 days before bankruptcy do not have to litigate each and every one of these expenses for the first $750.

Let me be very clear—I will not vote for final passage of this bill if it comes back from conference if these kind of reforms are missing. I am voting for this legislation because it is a work in progress, and it is making progress towards reform.

After Senator Jim Jeffords switched parties the Democrats took over the majority and the bill languished until the Republicans regained control in 2004.  After the Republicans regained control of the Senate, the Biden bankruptcy bill became a priority.  This time the provisions and protections gained by Hillary Clinton were excised by Biden and the Republicans.

Biden led the fight against the Democrats efforts to soften the bill’s impact on some of the most vulnerable debtors. Biden voted against protection for divorced mothers who failed to receive child support being able to get bankruptcy protection for a portion of their debts.

He opposed barring firms from exceeding 30 percent interest on loans, and he voted against special bankruptcy protection for soldiers, victims of identity theft and people with extremely high medical debt.

My, my, my.  Is it any wonder that there’s a mutiny against the frontrunners Donald Trump and Hillary Clinton?  No wonder Wall Street Vultures are swooping in to install their handmaidens Joe Biden and Paul Ryan as the Duopoly candidates.  The vultures have too much to lose if Biden and Ryan leave them this way.

 By Patricia Baeten 

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