Obama meets with Goldman Sachs for new line of credit – in violation of US law

URGENT MEMO: The current U.S. President has chosen to meet outside of government law, possibly selling off additional parts of the nation’s sovereignty – to men in suits who are more than ready to capitalize on the current US budget crisis.

21st Century Wire says…

URGENT MEMO: The current U.S. President has chosen to meet outside of government law, possibly selling off additional parts of the nation’s sovereignty – to men in suits who are more than ready to capitalize on the current US budget crisis.

US Treasury head Jack Lew described the situation as follows: “If we have insufficient cash on hand, it would be impossible for the United States of America to meet all of its obligations for the first time in our history.”

Reuters wire reports today that US President Barack Obama has met with top bank chief executives to discuss ‘the government shutdown’, and the looming deadline to raise the nation’s debt limit.

The bank chiefs he met with included such upstanding money lenders as Lloyd Blankfein of Goldman Sachs, Michael Corbat of Citigroup, Jamie Dimon of JPMorgan Chase & Co, and Brian Moynihan of Bank of America – and it’s worth noting here that each and every one of these men have presided over one financial fraud or scandal of some kind over the last 5 years.

As it happens, JPMorgan just offered the Feds $3 Billion to end probes into its dodgy mortgage business.

BANKING VULTURES: JP Morgan Chase CEO Jamie Dimon, left, and Goldman Sachs CEO Lloyd Blankfein – meeting with Obama in violation of Antideficiency Act.

Yes, Obama has met with Goldman Sachs and Co, in order to arrange for a new ‘debt ceiling’, or more accurately – a new line of credit. Only problem: he cannot do this during a shutdown. Such an act is in direct violation of the Antideficiency Act of 1870. It was a real law in fact, passed by Congress and also amended several times. This US law clearly prohibits a government office holders from incurring any monetary obligation – for which the Congress has not appropriated funds.

Question: In his secret meeting with bankers, what did the President promising to give away in return for a quick payday loan from the banking opportunists? This should be disclosed to the public.

Administration officials should be concerned about this important 19th century law – one that could send them packing, or perhaps imprisoned – should they choose to (as the President has today) take the law into their own hand behind the back of the American people while the government is shut down.

CNBC reported today:

“CNBC has learned that in several executive branch departments, high-level staff members review individual decisions about what government activities to allow for fear of running afoul of the Antideficiency Act. One White House official said he has advised his employees not to check their email or cellphones. Under the act, even volunteering for government service is expressly prohibited.

In a memo to his department employees today, Treasury Secretary Jack Lew cited the law as the reason for reduced staffing.”

If America is a nation of laws, then this should be the last meeting the President ever attends. If the nation is being run by a self-serving criminal class of charlatans, then nothing will come of Obama’s latest affront to constitutional law.

To add insult to injury, the President is also playing games in the press, in attempt to be a clever Dick. From Zerohedge:

In an interview with CNBC’s John Harwood, Obama once again shows why the polarization in Congress is at record levels. In a brief: he said he is “exasperated”, and that the shutdown is “entirely unnecessary” but adds that he is (finally?) prepared to negotiate, however only after he gets his way namely after the government is reopened. And another important talking point: Obama added that while gridlock in D.C. is nothing new, “this time I think Wall Street should be concerned.” It is unclear how that statement makes any sense in light of Obama’s right hand senator Chuck Schumer telling the man who is really in charge, Ben Bernanke, to get to work. Unless of course, Obama is now angling for a “concerning” market crash, which sends the Dow down by 20% like in the summer of 2011, and Obama can tell the stunned public “I told you so.”

There are multiple lines of active inquiry now, as well as various protests coming on line (not Occupy, but real ones) this month, as an increasing number of Americans are beginning to see the illusion put forth by the government and its commercial media arms, about the massive gravy train for Federal government related agencies, research grants and contractors. If America wobbles, there will be a huge economic downturn in the short-term.

Aside from anything, this potentially fatal gaff by Obama should demonstrate to Americans that politicians DO NOT run the nation – bankers do.

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