The Arrowflinger catches up with Rep. Tim Huelskamp, R. KS on the Washington Journal of December 8, 2011. The Congressman expected to talk about the M.F. Global scandal, but got a surprise request. After a host of simply stunning and outrageous banking frauds, near and far, the notion of the NDAA applying to a frugal saver had Al ready to reenact Custer’s Last Stand..
At this posting, people’s cash accounts with M.F. Global, a primary dealer in the Federal Reserve system with a fiduciary duty as a Treasury bond marketeer, were still unaccounted for. This joins myriad failures to prosecute the bankers responsible. Customers’ gold in M.F. Global vaults was attached by the bankruptcy trustee, who made no discernment as to ownership. Georgia was number one or number 2 in mortgage fraud for five years running. Instead of cracking down on criminals, the last thing needed in the good old USA was loss of the Bill of Rights for the honest, frugal saver.
Here is the C-Span clip of the call from the Arrowflinger.
On January 21, 2011, Dr. Chad Hart of Iowa State University was interviewed by C-Span Washington Journal host Peter Slen on the topic of rising food prices. Both received a challenge to the traditional economic theories from this sound money caller and advocate of alternative economics.
To expound on the Arrowflinger’s favorite alternative economic blogs, they include zerohedge.com, globaleconomicanalysis.blogsport.com, maxkeiser.com, market-ticker.org, kingworldnews.com, and financialsense.com.
Former Representative John Spratt (D, S.C.)was on C-Span Washington Journal April 18, 2011 discussing the Federal Budget when the Arrowflinger called in to inquire about his inconsistent voting record with respect to his avowed fiscal conservatism. Host Libby Casey moderated.
On July 13, 2010 former Congressman Tom Davis, a Republican of Virginia was on C-Span’s Washington Journal with host Paul Orgel to discuss the 2010 GOP election efforts. Rep. Davis was a prior Chairman of the National Republican Congressional Committee. The topic of the Commodities Futures Modernization Act of 2000 came up. Since that day, horrendous consequences of the CFMA have become manifest, principally the M.F. Global bankruptcy.
On May 6, 2010, the Arrowflinger caught up with Ms. Sheila Bair, then Chairwoman of the Federal Deposit Insurance Corporation, on the Washington Journal. Here is his last word. Since that interview, Wells Fargo, who had the misfortune to be saddled with the carcass of Wachovia, has also had to settle litigation involving mortgage fraud allegations for $590 million and Collateralized Debt Obligations for $11 million, without admitting guilt – of course! There has been a settlement with another bank for $100 million.
Closer to home, Wachovia had an enormous investor base around Augusta, Georgia because of a series of bank acquisitions using Wachovia or predecessor First Union’s stock. Wachovia stock went from $57 to less than $2 before the failing bank was rolled into Wells Fargo. Other national banks saw stock prices plunge. Since many prominent area families were so heavily invested, one of the old family patriarchs has been heard to say that the fall of Wachovia and others swept $1 billion out of Augusta. A cynic would say this is why, now more than ever, it is critical for citizens to keep vigilant, lest they find themselves making up the losses by political actions.
Now the Last Word, followed by the C-Span clip of the Bair Interview.