Thursday, March 19, 2009

Will the real Andrew Cuomo please stand up.


If you had never heard of NY State Attorney General Andrew Cuomo before this weeks AIG big Bonus blow-up, you would think that he was an iron fisted AG in the mold of Rudy Guiliani.

Unfortunately, Andrew Cuomo has been around the block for quite a long time. He has been involved in the New York State political scene for well over 20 years and if it were not for the name Cuomo, not too many people would care.

This week, AG Andy Cuomo decided to put on his Superman cape and go after a bunch of suit clad 9-5'ers who happen to ply their trade in the Wall St. District for AIG. These greedy Capitalists must be stopped. How dare they have the nerve to earn bonuses. This is morally wrong..Obama says it is.. The world as we know it will change for the worse if these crooks are not stopped.
You see, this is what a typical bully would do. He targets a victim that has been ostracized or ridiculed by his peers and then unsuspectingly moves in and lands a blow to the gut knowing that they will not fight back. This is what Andy does, he picks on easy targets. He sees Wall Street as the bad guy, the culprit in this financial crisis, Obama said so. He is playing right into President Obama's rhetoric that wants to paint Capitalism and Wall Street as the primary transgressors in the current state of the economy.So when it came time for Super Andy to catch the bad guys at Fannie & Freddie, there apparently was either a shortage of phone booths or a cape malfunction .

As Secretary of HUD from 1997-2001, he did everything in his power to run the agency into the ground. Here is what the GAO had to say about the condition Cuomo left HUD in,"Significant weaknesses (internal controls, information and financial-management systems, organizational deficiencies and staffing programs) still persist in two of HUD's major program areas which remain at high-risk -- Single-Family Insurance and Rental Housing Assistance."
Under his same watch, there was the Audit catastophre in 1999 where billions of dollars went unaccounted for and the agency's financial system was declared to be defective. These lapses no doubt led to the ability of Franklin Raines and his cronies at Fannie & Freddie to manipulate earnings, cook the books and in the process earn himself, Jamie Gorelick and others millions of dollars in bonuses.So for Andy Cuomo to stand in front of America and state that he wants to come down hard on these suits from Wall St. is a laugh.

Why not call out Franklin Raines or Jamie Gorelick Mr. tough guy. You think they could return half of their $100 million in bonuses? The reason may lie in the fact that he has played a bigger part in this mess than most people would know. He is covering his tracks. He wants to be the Knight in shining armor. He wants you to believe that capitalism is the enemy. He wants you to believe that goverment will save the day. He is a just another bully picking on an easy target.

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