Comments on: President Collins Calls Public Option a “Non-Starter” http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/ Firedoglake weblog Fri, 17 Feb 2012 22:21:00 -0600 hourly 1 http://wordpress.org/?v=3.1.2 By: dangood http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/#comment-1996578 dangood Thu, 15 Oct 2009 05:40:00 +0000 http://firedoglake.com/?p=45029#comment-1996578 It is hard to read these statements. For instance "Collins said she worries the coverage won’t be affordable for many families and small businesses"; who is she talking about, rich families or poor families? Sounds like a lot of double speak. The general public could live without a "Public Option" only if the insurance industry was so regulated that it became in effect a public option, as is the case in Switzerland, where executives do not make multi-million salaries and bonuses. It is hard to read these statements. For instance “Collins said she worries the coverage won’t be affordable for many families and small businesses”; who is she talking about, rich families or poor families? Sounds like a lot of double speak. The general public could live without a “Public Option” only if the insurance industry was so regulated that it became in effect a public option, as is the case in Switzerland, where executives do not make multi-million salaries and bonuses.

]]> By: sadlyyes http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/#comment-1996456 sadlyyes Thu, 15 Oct 2009 02:26:29 +0000 http://firedoglake.com/?p=45029#comment-1996456 more Source: The Guardian A pair of maverick Bear Stearns hedge fund managers lied to clients "over and over again" to protect their multimillion dollar pay cheques, exchanging secret emails to orchestrate a $1.6bn fraud as their funds imploded in the global financial crisis, a US jury heard yesterday (Wednesday). At a federal court in the New York borough of Brooklyn, financiers Ralph Cioffi and Matthew Tannin became the first Wall Street bankers to stand trial in a criminal case arising from the credit crunch. The men, who protest their innocence, are accused of hiding the true picture from clients as their two high-flying hedge funds fell to earth - an event which ultimately contributed to the collapse of the 85-year-old brokerage Bear Stearns. Prosecuting counsel Patrick Sinclair told jurors that the duo deceived investors "from France to Chicago, from Switzerland to right here in Brooklyn", and flouted the "special relationship of trust" that comes with looking after other peoples' money. ... Cioffi, 53, and Tannin, 48, ran two Bear Stearns funds which, at their peak, managed $20bn of assets. During the good times, the court heard that they were well rewarded - Cioffi, a senior fund manager, earned a total of $32m in 2005 and 2006 while Tannin, who has described himself as the "little cheese" of the two, received $4.4m. Read more: http://www.guardian.co.uk/business/2009/oct/14/bear-ste... more

Source: The Guardian

A pair of maverick Bear Stearns hedge fund managers lied to clients “over and over again” to protect their multimillion dollar pay cheques, exchanging secret emails to orchestrate a $1.6bn fraud as their funds imploded in the global financial crisis, a US jury heard yesterday (Wednesday).

At a federal court in the New York borough of Brooklyn, financiers Ralph Cioffi and Matthew Tannin became the first Wall Street bankers to stand trial in a criminal case arising from the credit crunch. The men, who protest their innocence, are accused of hiding the true picture from clients as their two high-flying hedge funds fell to earth – an event which ultimately contributed to the collapse of the 85-year-old brokerage Bear Stearns.

Prosecuting counsel Patrick Sinclair told jurors that the duo deceived investors “from France to Chicago, from Switzerland to right here in Brooklyn”, and flouted the “special relationship of trust” that comes with looking after other peoples’ money.

… Cioffi, 53, and Tannin, 48, ran two Bear Stearns funds which, at their peak, managed $20bn of assets. During the good times, the court heard that they were well rewarded – Cioffi, a senior fund manager, earned a total of $32m in 2005 and 2006 while Tannin, who has described himself as the “little cheese” of the two, received $4.4m.

Read more: http://www.guardian.co.uk/business/2009/oct/14/bear-ste...

]]> By: sadlyyes http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/#comment-1996454 sadlyyes Thu, 15 Oct 2009 02:18:52 +0000 http://firedoglake.com/?p=45029#comment-1996454 murder and mayhem inc murder and mayhem inc

]]> By: xargaw http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/#comment-1996452 xargaw Thu, 15 Oct 2009 02:16:31 +0000 http://firedoglake.com/?p=45029#comment-1996452 During the Bush years, everytime one of these GOP cretins would spout off on TV, all I could think of was "War Criminals." Now, when these same people as well as Dems like Baucus, Bill Nelson, Conrad, Lincoln, Landrieu, Liberman show up, all I can think of is "Healthcare Criminal." All of them are death merchants whose role in suffering and the destruction of families cannot be overstated. During the Bush years, everytime one of these GOP cretins would spout off on TV, all I could think of was “War Criminals.” Now, when these same people as well as Dems like Baucus, Bill Nelson, Conrad, Lincoln, Landrieu, Liberman show up, all I can think of is “Healthcare Criminal.” All of them are death merchants whose role in suffering and the destruction of families cannot be overstated.

]]> By: sadlyyes http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/#comment-1996451 sadlyyes Thu, 15 Oct 2009 02:13:23 +0000 http://firedoglake.com/?p=45029#comment-1996451 lol lol

]]> By: sadlyyes http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/#comment-1996450 sadlyyes Thu, 15 Oct 2009 02:12:54 +0000 http://firedoglake.com/?p=45029#comment-1996450 N O T H I N G is worse than MADAME SARAHs screeching aieh@#$%!!!! N O T H I N G is worse than MADAME SARAHs screeching

aieh@#$%!!!!

]]> By: tbsa http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/#comment-1996449 tbsa Thu, 15 Oct 2009 02:11:50 +0000 http://firedoglake.com/?p=45029#comment-1996449 LOL. I always thought she looked a little like Olive Oil on the Popeye cartoon. LOL. I always thought she looked a little like Olive Oil on the Popeye cartoon.

]]> By: sadlyyes http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/#comment-1996448 sadlyyes Thu, 15 Oct 2009 02:10:39 +0000 http://firedoglake.com/?p=45029#comment-1996448 yup,in designer ill fitting garb yup,in designer ill fitting garb

]]> By: Eureka Springs http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/#comment-1996447 Eureka Springs Thu, 15 Oct 2009 02:09:21 +0000 http://firedoglake.com/?p=45029#comment-1996447 Seems like i once heard she really does have some sort of problem / health condition with her voice box. Seems like i once heard she really does have some sort of problem / health condition with her voice box.

]]> By: Auduboner http://firedoglake.com/2009/10/14/president-collins-calls-public-option-a-non-starter/#comment-1996446 Auduboner Thu, 15 Oct 2009 02:09:08 +0000 http://firedoglake.com/?p=45029#comment-1996446 I went to that White House website that asks for personal stories about health insurance problems, and left the following heartbreaking lament: "I used to be in relatively good health. Then, I learned that someone I supported for President, who while running for office promised unalloyed support for a robust public option, now evaded and avoided delivering on that promise when he had the chance. I learned that his chief of staff had sold the American Public down the road in a behind the scenes backroom deal with Big Medicine, PhRMA, and AHIP. The last straw was when both of them had the chance to require a certain Majority leader to force an up-or-down vote the way Bush and Cheney always did - and the BLEW that chance! Now I am a Sick, Sick Man, and my insurance company won't cover my illness. They say relying to my detriment on the Promises of Slick Politicians is a pre-existing condition, one that is entirely my own fault. Coverage Denied! The ONLY hope for me is a reform bill with a ROBUST PUBLIC OPTION, with NO triggers, NO opt outs, and NO co-ops! Please, Madame Secretary - can you help me?" I went to that White House website that asks for personal stories about health insurance problems, and left the following heartbreaking lament:

“I used to be in relatively good health. Then, I learned that someone I supported for President, who while running for office promised unalloyed support for a robust public option, now evaded and avoided delivering on that promise when he had the chance. I learned that his chief of staff had sold the American Public down the road in a behind the scenes backroom deal with Big Medicine, PhRMA, and AHIP. The last straw was when both of them had the chance to require a certain Majority leader to force an up-or-down vote the way Bush and Cheney always did – and the BLEW that chance!

Now I am a Sick, Sick Man, and my insurance company won’t cover my illness. They say relying to my detriment on the Promises of Slick Politicians is a pre-existing condition, one that is entirely my own fault. Coverage Denied!

The ONLY hope for me is a reform bill with a ROBUST PUBLIC OPTION, with NO triggers, NO opt outs, and NO co-ops!

Please, Madame Secretary – can you help me?”

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