Sunday, May 30, 2010

A Thug for New York Governor

A thug is running for New York governor. Andrew Cuomo gets a reward for coercing banks to give risky loans: video-1 & video-2

From this article:

“New York Attorney General Andrew Cuomo is the "father of the subprime crisis" and his aggressive attacks on Wall Street could make him dangerous to the banking sector if he becomes the next governor of New York, well-known banking analyst Dick Bove told CNBC.”

From Royal Serf:

In one year, between July 2007 and July 2008, Merrill Lynch would lose $19.2 billion or $52 million daily. The company's stock price would also decline significantly during this time.

While struggling to survive yet desirous of maintaining its integrity, Merrill Lynch would offer to buy back $12 billion in auction-rate securities. A week later, in August 2008, New York Attorney General Andrew Cuomo would threaten to sue Merrill Lynch, accusing the company of misrepresenting the risk of mortgage-backed securities, grossly evading that government-licensed rating agencies gave AAA ratings to these securities.

On September 5, 2008 Goldman Sachs would downgrade Merrill Lynch's stock to "conviction sell" and would warn of further losses from the company. Bloomberg would report in September 2008 that Merrill Lynch had lost $51.8 billion in mortgage-backed securities as part of the subprime mortgage crisis.

Sons and daughters of Liberty: let us defeat power-luster Cuomo and his ilk to end the government of thugs, by thugs, for thugs.

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