THE BEST PRESIDENT MONEY CAN BUY

THE BEST PRESIDENT MONEY CAN BUY

A reader of my Blog entitled “SEC Regulators or Resetters”, suggested I took a closer look at the correlation between  the most fraudulent banks league table, and those same institutions overall contributions to the Presidential campaign of Obama and McCain in 2008.

					SEC	TOTAL
BANK	Description of Fraud				Penalty	USD 000
UBS	Offshore Banking services tax fraud				Fined	780,000
Goldman	Civil Fraud (SEC cut - USD 300 Million)				Fined	550,000
Citi	Bubble Securities				Fined	285,000
J P Morgan	Mortgage securities				Fined	154,000
						1,769,000
	OBAMA		McCAIN			TOTAL
DONOR	Ranking	USD 000	Ranking	USD 000		USD 000
Largest Donor	1	1,618	1	375		1,993
Goldman Sachs	2	1,013	5	240		1,253
J P Morgan Chase	6	808	2	343		1,151
Citigroup	7	736	3	338		1,074
UBS	15	532	9	187		719
						4,197

Here thanks to data supplied from Open Secrets, an excellent source of information are the results:

All these institutions are amongst the top ten largest contributors to BOTH candidates. “It is almost as though they did not care who won, so long as he was bought and paid for before reaching office”. Oh forget it; I’m sure that must be completely wrong!!

Maybe this also helps to explain that since taking office, we have not seen any criminal charges raised against top executives of any of these banks by the Obama White House.

UBS only number 15 in the Obama Donors league, with USD 532K, got the biggest fine of USD 780,000K. Perhaps there is a lesson to be learned in Zurich and Bern?

For anyone expecting “Hope and Change” with Romney, take a look at his donors list, it is all the usual suspects.