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The only one who thinks of rump as a winner is rump. It’s a lot easier to see all of his failures than his successes.He lost more money than any other American for a decade. He tries to say it was deliberate, but it certainly wasn’t.This is a list of some of his biggest failures.1. Trump AirlinesIn 1988, Trump took out a $245 million loan to purchase the planes and routes of Eastern Air Shuttle. He slapped a TRUMP decal and some gold bathroom fixtures on the commuter planes that flew between New York, Boston and Washington, D.C., but customers weren’t charmed. Two years after he launched Trump Shuttle, the airline wasn’t making enough money to even cover the $1 million monthly interest payment on his loan. Trump ultimately defaulted, surrendering ownership of the airline to his creditors.2. Trump beveragesPerhaps you’re aware of Trump Ice — “one of the purest natural spring waters bottled in the world,” according to the Trump’s website. The line of water, which is bottled by a third party, is not a failure; according to his FEC disclosure, Trump made $280,000 off it last year. But Trump’s other forays into the beverage market have been less successful. Undoubtedly intended to play on his Apprentice catchphrase, Trump Fire was trademarked in 2004, but it does not appear to have ever made it to market. Trump trademarked the name Trump Power at the same time. Both drinks were categorized as “non-alcoholic beverages containing fruit juices… namely, carbonated beverages” on their trademark applications. The only trace remaining of either are the trademark applications that were abandoned in 2006. The same goes for Trump’s American Pale Ale, the trademark for which was cancelled in 2007.3. Trump: The GameIn 1988, Trump teamed up with Milton Bradley to create Trump: The Game. Despite its flashy TV ad, the game sold only 800,000 copies — less than half the 2 million units the company expected to move. When it was discontinued in 1990, Trump chalked the game’s dismal sales up to the fact that it might have been “too complicated.” The failure apparently didn’t deter Hasbro from releasing a re-branded version of the game in 2004 to capitalize on Trump’s Apprentice-related popularity. Trump said he expected the Hasbro version of his game to sell more copies than the original, but it too quickly went out of circulation.4. Trump casinosTrump has filed for bankruptcy on his Atlantic City properties alone three times. First was the Trump Taj Mahal in 1991 — which was $3 billion in debt after just one year in operation. He was back in bankruptcy court in 2004, and not just for the Trump Taj Mahal but for the Trump Marina and Trump Plaza casinos, which along with a riverboat casino in Indiana had a debt burden of some $1.8 billion. After the bankruptcy, Trump Hotels and Casino Resorts reorganized as Trump Entertainment Resorts Inc. Four years later, Trump Entertainment Resorts missed an interest payment on a $53.1 million bond; the company declared bankruptcy, and this time Trump stepped down as its chairman.5. Trump magazineTrump launched his eponymous magazine in late 2007, reinventing a publication that had previously been called Trump Style and Trump World. His idea was to “[cash] in on the booming advertising market for yachts and other high-end commodities.” The timing, of course, couldn’t have been worse for a magazine, particularly one dependent on luxury advertising. It didn’t survive the financial crisis, folding by 2009.6. Trump Mortgage“I think it’s a great time to start a mortgage company,” Trump famously predicted to CNBC in April 2006. “The real-estate market is going to be very strong for a long time to come.” In reality, the market had already begun deflating at that point and would collapse within a matter of months. Unsurprisingly, Trump Mortgage’s business fell far short of its projections, doing less than a third of the $3 billion in business executives predicted it would to do in its first year. At the time, Trump blamed the failure on the executives who run the company. He had tapped E.J. Ridings for the company’s CEO position; the company’s website boasted Ridings as having been a “top executive of one of Wall Street’s most prestigious investment banks,” but Money Magazine later found he had just six months of experience as a stockbroker before he went to work a small mortgage company. Trump Mortgage shuttered in September 2007. According to the Washington Post, the company never paid a $298,274 judgement it owed a former employee, nor the $3,555 it owed in unpaid taxes.7. Trump SteaksWhen Trump filed for bankruptcy on his Atlantic City properties for the second of three times, court records showed he owed the Georgia company Buckhead Beef some $715,240. Two years later, in 2007, Trump struck a deal sell Buckhead Beef through the futuristic gadget store the Sharper Image. CEO Jerry Levin would later tell ThinkProgress it was “a bad business idea.”“[W]e literally sold almost no steaks,” Levin said. “If we sold $50,000 of steaks grand total, I’d be surprised.” The steaks were pulled from shelves after just two months of abysmal sales, but the Trump Steaks commercial has, blessedly, been preserved for posterity.8. Trump’s travel siteLike many of his business ventures, http://GoTrump.com was a gaudier version of an existing product — the travel booking website Travelocity, in this case. It launched in 2006 to low expectations: Henry Harteveldt of Forrester Research told the Washington Post it was a “vanity site” that wouldn’t make much money. He was right; it folded in 2007. Trump never gave up the URL, though — today it directs back to his campaign website.9. Trump’s comms companyTrump registered a trademark for Trumpnet under the category of “corporate telephone communication services” in 1990. Whatever it was going to be, it never got off the ground; the trademark was abandoned in 1992.10. Trump Tower TampaThe 52-story Trump Tower in Tampa wasn’t conceived of or proposed or drafted up by Donald Trump — he just sold the use of his name to developers of the $300 million condo project for a cool $2 million. They, in turn, collected down payments from individual buyers drawn in by the Trump mystique. After the project went belly-up in 2008 (it listed two scale models and some office furniture, worth a grand total of $3,500, as its only assets in bankruptcy court) buyers sued Trump for misleading them. He eventually settled, in some cases for as little as $11,115, with plaintiffs who had lost hundreds of thousands of dollars.11. Trump UniversityAlso known at the Trump Entrepreneur Initiative, Trump University was a series of wealth-building seminars for which students paid as much as $34,995 for mentorships that would supposedly get them access to Trump’s secrets of success. Instead of the hand-picked instructors Trump promised, the seminars were delivered by motivational speakers, often without degrees, and sometimes with criminal records. According to his FEC filings, Trump brought in $11,819 from the Trump Entrepreneur Initiative last year; he’s now the subject of two class-action lawsuits in California related to Trump University, and a third suit, for $40 million, brought by New York Attorney General Eric Schneiderman.12. Trump VodkaTrump Vodka — “Success Distilled,” to quote its press materials — appeared in 2006. Trump said at the time, “I fully expect the most called for cocktail in America to be the T&T or the Trump and Tonic.” The liquor flopped, maybe in part because of Trump’s reputation as a teetotaler didn’t inspire a lot of confidence in his taste in hard alcohol. The trademark was abandoned in 2008, and the liquor was out of circulation by 2011.13. Lost future earnings from calling Mexicans rapistsTrump kissed millions of dollars in future earnings goodbye last summer when he called Mexicans rapists and criminals in his campaign announcement speech. “Yeah, I’m losing some contracts, who cares, people – politically they’re weak and they want to be politically correct,” he said at the time.He learned penny-pinching from his father. He is even known for cashing a sixteen cent check.These are not his only business failures. The list really is long.The only way he gets away with it is he bullshits and bullshits and there are people that believe him.His wealth is never what he says. It usually goes a little below half of what he says. This is his Achilles heel and he will do (and is doing) anything to keep his taxes hidden. New York is actively seeking his taxes, in fact, they passed a law to be able to access them and even provide them to congress. A judge just ruled that the state could do this but rump is appealing again. Another thing he does in his business is that he does not allow many people to know about other people’s jobs. It prevents them from talking…..or testifying.The man is a 100% fraud and pathological liar. He has put this country at war within itself over hatred and bigotry. He truly is the worst president in our country’s history (according to Brookings institute) and has to be removed quickly. He is spreading his dangerous behavior now to our allies, the Kurds.He has made a mockery of his Oath of Office: "I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my Ability, preserve, protect and defend the Constitution of the United States." He has abused and ignored our constitution. It is supposed to be about our country but rump makes everything about him. Before our country, a country had never tried this approach to governing itself. It has worked for us for over 250 years and all previous presidents respected the constitution. We serve as the beacon in the world for freedom. Rump decided the constitution didn’t serve him well and he doesn’t want to share power with other branches. He believes he is above all others and the law.He has quickly been losing mental control and I would love someone to explain to me why in the hell he did what he did with Syria, Turkey and the Kurds. He did not talk to anyone about it beforehand - only the prime minister of Turkey where it appeared rump knew the numbers of people that would be killed and displaced. This is how he treats our allies??? Now there are over 2 million people in a humanitarian crisis and today he was trying to justify his actions by saying Syria didn’t help us at Normandy. How fu**ing stupid is that???The republican party is going through its final swirling flush down the toilet. They have let rump get away with everything and never uttered a word or took an action. These republican congress and senators have shown their disdain for our constitution . They are supposed to work for us but they do nothing!!! We need to make sure to vote out each and every one of them as they come on the ballot. The only thing these people care about is their own asses.I still have a little hope that maybe this mess with Syria will get the republicans to act. Dear God, let 1 good thing come out of this horrible humanitarian situation - LET US IMPEACH TRUMP!!!

History(1850–1969) - In 1844, 23-year-old Henry Lehman, the son of a Jewish cattle merchant, immigrated to the United States from Rimpar, Bavaria.He settled in Montgomery, Alabama, where he opened a dry-goods store, "H. Lehman". In 1847, following the arrival of his brother Emanuel Lehman, the firm became "H. Lehman and Bro." With the arrival of their youngest brother, Mayer Lehman, in 1850, the firm changed its name again and "Lehman Brothers" was founded.During the 1850s, cotton was one of the most important crops in the United States. Capitalizing on cotton's high market value, the three brothers began to routinely accept raw cotton from customers as payment for merchandise, eventually beginning a second business trading in cotton. Within a few years this business grew to become the most significant part of their operation. Following Henry's death from yellow fever in 1855, the remaining brothers continued to focus on their commodities-trading/brokerage operations.The Lehmans were also involved in the Atlantic slave trade in the 1850s.By 1858, the center of cotton trading had shifted from the South to New York City, where factors and commission houses were based. Lehman opened its first branch office at 119 Liberty Street and 32-year-old Emanuel relocated there to run the office. In 1862, facing difficulties as a result of the Civil War, the firm teamed up with a cotton merchant named John Durr to form Lehman, Durr & Co Following the war the company helped finance Alabama's reconstruction. The firm's headquarters were eventually moved to New York City, where it helped found the New York Cotton Exchange in 1870; Emanuel sat on the board of governors until 1884. The firm also dealt in the emerging market for railroad bonds and entered the financial-advisory business.Lehman became a member of the Coffee Exchange as early as 1883 and finally the New York Stock Exchange in 87. In 1899, it underwrote its first public offering, the preferred and common stock of the International Steam Pump Company.Despite the offering of International Steam, the firm's real shift from being a commodities house to a house of issue did not begin until 1906. In that year, under Emanuel's son Philip Lehman, the firm partnered with Goldman, Sachs & Co., to bring the General Cigar Co. to market, followed closely by Sears, Roebuck and Company. During the following two decades, almost one hundred new issues were underwritten by Lehman, many times in conjunction with Goldman, Sachs. Among these were F.W. Woolworth Company, May Department Stores Company, Gimbel Brothers, Inc., R.H. Macy & Company, The Studebaker Corporation, the B.F. Goodrich Co. and Endicott Johnson Corporation.Following Philip Lehman's retirement in 1925, his son Robert "Bobbie" Lehman took over as head of the firm. During Bobbie's tenure, the company weathered the capital crisis of the Great Depression by focusing on venture capital while the equities market recovered.Traditionally a family-only partnership, in 1924, John M. Hancock became the first non-family member to join the firm, followed by Monroe C. Gutman and Paul Mazur in 1927. By 1928, the firm moved to its now famous One William Street location.In the 1930s, Lehman underwrote the initial public offering of the first television manufacturer, DuMont, and helped fund the Radio Corporation of America (RCA). It also helped finance the rapidly growing oil industry, including the companies Halliburton and Kerr-McGee. In the 1950s, Lehman underwrote the IPO of Digital Equipment Corporation. Later, it arranged the acquisition of Digital by Compaq.(1969–1984) - Robert Lehman died in 1969 after 44 years as the patriarch of the firm, leaving no member of the Lehman family actively involved with the partnership. Robert's death, coupled with a lack of a clear successor from within the Lehman family left a void in the company. At the same time, Lehman was facing strong headwinds amidst the difficult economic environment of the early 1970s. By 1972, the firm was facing hard times and in 1973, Pete Peterson, chairman and chief executive officer of the Bell & Howell Corporation, was brought in to save the firm.Under Peterson's leadership as chairman and CEO, the firm acquired Abraham & Co. in 1975, and two years later merged with the venerable, but struggling, Kuhn, Loeb & Co., to form Lehman Brothers, Kuhn, Loeb Inc., the country's fourth-largest investment bank, behind Salomon Brothers, Goldman Sachs and First Boston. Peterson led the firm from significant operating losses to five consecutive years of record profits with a return on equity among the highest in the investment-banking industry.By the early 1980s, hostilities between the firm's investment bankers and traders (who were driving most of the firm's profits) prompted Peterson to promote Lewis Glucksman, the firm's President, COO and former trader, to be his co-CEO in May 1983. Glucksman introduced a number of changes that had the effect of increasing tensions, which when coupled with Glucksman’s management style and a downturn in the markets, resulted in a power struggle that ousted Peterson and left Glucksman as the sole CEO.Upset bankers who had soured over the power struggle, left the company. Stephen A. Schwarzman, chairman of the firm's M&A committee, recalled in a February 2003 interview with Private Equity International that "Lehman Brothers had an extremely competitive internal environment, which ultimately became dysfunctional." The company suffered under the disintegration, and Glucksman was pressured into selling the firm.Merger with American Express (1984–1994) - Shearson/American Express, an American Express-owned securities company focused on brokerage rather than investment banking, acquired Lehman in 1984, for $360 million. On May 11, the combined firms became Shearson Lehman/American Express. In 1988, Shearson Lehman/American Express and E.F. Hutton & Co. merged as Shearson Lehman Hutton Inc.From 1983 to 1990, Peter A. Cohen was CEO and chairman of Shearson Lehman Brothers, where he led the one billion dollar purchase of E.F. Hutton to form Shearson Lehman Hutton. During this period, Shearson Lehman was aggressive in building its leveraged finance business in the model of rival Drexel Burnham Lambert. In 1989, Shearson backed F. Ross Johnson's management team in its attempted management buyout of RJR Nabisco but were ultimately outbid by private equity firm Kohlberg Kravis Roberts, who was backed by Drexel.Divestment and independence (1994–2008) - In 1993, under newly appointed CEO, Harvey Golub, American Express began to divest itself of its banking and brokerage operations. It sold its retail brokerage and asset management operations to Primerica and in 1994 it spun off Lehman Brothers Kuhn Loeb in an initial public offering, as Lehman Brothers Holdings, Inc.Despite rumors that it would be acquired again, Lehman performed quite well under chairman and CEO Richard S. Fuld, Jr.. By 2008, Fuld had been with the company for 30 years, and would be the longest-tenured CEO on Wall Street. Fuld had steered Lehman through the 1997 Asian Financial Crisis, a period where the firm's share price dropped to $22 USD in 1998, but he was said to have underestimated the downturn in the US housing market and its effect on Lehman's mortgage bond underwriting business. Fuld kept his job as the subprime mortgage crisis took hold, while CEOs of rivals like Bear Stearns, Merrill Lynch, and Citigroup were forced to resign. In addition, Lehman's board of directors, which included retired CEOs like Vodafone's Christopher Gent and IBM's John Akers were reluctant to challenge Fuld as the firm's share price spiraled lower.Fuld had a succession of "number twos" under him, usually titled as president and chief operating officer. Chris Pettit was Fuld's second-in-command for two decades until November 26, 1996, when he resigned as president and board member. Pettit lost a power struggle with his deputies (Steve Lessing, Tom Tucker, and Joseph M. Gregory) back on March 15 that year that caused him to relinquish its COO title, likely brought about after the three men found out about Pettit's extramarital affairs, which violated Fuld's unwritten rules on marriage and social etiquette. Bradley Jack and Joseph M. Gregory were appointed co-COOs in 2002, but Jack was demoted to the office of the chairman in May 2004 and departed in June 2005 with a severance package of $80 million, making Gregory the sole COO. While Fuld was considered the "face" of Lehman brothers, Gregory was in charge of day-to-day operations and he influenced culture to drive the bottom line. Gregory was demoted on June 12, 2008 and replaced as president and COO by Bart McDade, who had been serving as head of Equities, and McDade would see Lehman through bankruptcy. McDade would later be one of a handful of Lehman executives offered a position with Barclays after their acquisition; he would step down after less than two months.In 2001, the firm acquired the private-client services, or "PCS", business of Cowen & Co.and later, in 2003, aggressively re-entered the asset-management business, which it had exited in 1989.[45] Beginning with $2 billion in assets under management, the firm acquired the Crossroads Group, the fixed-income division of Lincoln Capital Management and Neuberger Berman. These businesses, together with the PCS business and Lehman's private-equity business, comprised the Investment Management Division, which generated approximately $3.1 billion in net revenue and almost $800 million in pretax income in 2007. Prior to going bankrupt, the firm had in excess of $275 billion in assets under management. Altogether, since going public in 1994, the firm had increased net revenues over 600% from $2.73 billion to $19.2 billion and had increased employee headcount over 230% from 8,500 to almost 28,600.At the 2008 ALB China Law Awards, Lehman Brothers was crowned:• Deal of the Year – Debt Market Deal of the Year• Deal of the Year – Equity Market Deal of the YearResponse to September 11, 2001 attacks - On September 11, 2001, Lehman occupied three floors of World Trade Center where one of its employees was killed in the terrorist attacks of that day. Its global headquarters in Three World Financial Center were severely damaged and rendered unusable by falling debris, displacing over 6,500 employees. The bank recovered quickly and rebuilt its presence. Trading operations moved across the Hudson River to its Jersey City, New Jersey, facilities, where an impromptu trading floor was built in a hotel and brought online less than forty-eight hours after the attacks. When stock markets reopened on September 17, 2001, Lehman's sales and trading capabilities were restored.In the ensuing months, the firm fanned out its operations across the New York City metropolitan area in over 40 temporary locations. The investment-banking division converted the first-floor lounges, restaurants, and all 665 guestrooms of the Sheraton Manhattan Hotel into office space.The bank also experimented with flextime (to share office space) and telecommuting via virtual private networking. In October 2001, Lehman purchased a 32-story, 1,050,000-square-foot (98,000 m2) office building for a reported sum of $700 million. The building, located at 745 Seventh Avenue, had recently been completed, and not yet occupied, by rival Morgan Stanley.With Morgan Stanley's world headquarters located only two blocks away at 1585 Broadway, in the wake of the attacks the firm was re-evaluating its office plans which would have put over 10,000 employees in the Times Square area of New York City. Lehman began moving into the new facility in January and finished in March 2002, a move that significantly boosted morale throughout the firm.The firm was criticized for not moving back to its former headquarters in lower Manhattan. Following the attacks, only Deutsche Bank, Goldman Sachs, and Merrill Lynch, of the major firms, remained in the downtown area. Lehman, however, pointed to the facts that it was committed to stay in New York City, that the new headquarters represented an ideal circumstance where the firm was desperate to buy and Morgan Stanley was desperate to sell, that when the new building was purchased, the structural integrity of Three World Financial Center had not yet been given a clean bill of health, and that the company could not have waited until May 2002 for repairs to Three World Financial Center to conclude.After the attacks, Lehman's management placed increased emphasis on business continuity planning. Unlike its rivals, the company was unusually concentrated for a bulge-bracket investment bank. For example, Morgan Stanley maintains a 750,000-square-foot (70,000 m2) trading-and-banking facility in Westchester County, New York. The trading floor of UBS is located in Stamford, Connecticut. Merrill Lynch's asset-management division is located in Plainsboro Township, New Jersey. Aside from its headquarters in Three World Financial Center, Lehman maintained operations-and-backoffice facilities in Jersey City, space that the firm considered leaving prior to 9/11. The space was not only retained, but expanded, including the construction of a backup-trading facility. In addition, telecommuting technology first rolled out in the days following the attacks to allow employees to work from home was expanded and enhanced for general use throughout the firmJune 2003 SEC litigation - In June 2003, the company was one of ten firms which simultaneously entered into a settlement with the U.S. Securities and Exchange Commission (SEC), the Office of the New York State Attorney General and various other securities regulators, regarding undue influence over each firm's research analysts by its investment-banking divisions. Specifically, regulators alleged that the firms had improperly associated analyst compensation with the firms' investment-banking revenues, and promised favorable, market-moving research coverage, in exchange for underwriting opportunities. The settlement, known as the "global settlement", provided for total financial penalties of $1.4 billion, including $80 million against Lehman, and structural reforms, including a complete separation of investment banking departments from research departments, no analyst compensation, directly or indirectly, from investment-banking revenues, and the provision of free, independent, third-party, research to the firms' clients.Rise of mortgage origination (1997-2006) - Lehman was one of the first Wall Street firms to move into the business of mortgage origination. In 1997, Lehman bought Colorado-based lender, Aurora Loan Services, an Alt-A lender. In 2000, to expand their mortgage origination pipeline, Lehman purchased West Coast subprime mortgage lender BNC Mortgage LLC. Lehman quickly became a force in the subprime market. By 2003 Lehman made $18.2 billion in loans and ranked third in lending. By 2004, this number topped $40 billion. By 2006, Aurora and BNC were lending almost $50 billion per month. Lehman had morphed into a real estate hedge fund disguised as an investment bank. By 2008, Lehman had assets of $680 billion supported by only $22.5 billion of firm capital. From an equity position, its risky commercial real estate holdings were three times greater than capital. In such a highly leveraged structure, a 3 to 5 percent decline in real estate values would wipeout all capital.Collapse - A March 2010 report by the court-appointed examiner indicated that Lehman executives regularly used cosmetic accounting gimmicks at the end of each quarter to make its finances appear less shaky than they really were. This practice was a type of repurchase agreement that temporarily removed securities from the company's balance sheet. However, unlike typical repurchase agreements, these deals were described by Lehman as the outright sale of securities and created "a materially misleading picture of the firm’s financial condition in late 2007 and 2008."Subprime Mortgage Crisis - In August 2007 the firm closed its subprime lender, BNC Mortgage, eliminating 1,200 positions in 23 locations, and took an after-tax charge of $25 million and a $27 million reduction in goodwill. Lehman said that poor market conditions in the mortgage space "necessitated a substantial reduction in its resources and capacity in the subprime space".In 2008, Lehman faced an unprecedented loss to the continuing subprime mortgage crisis. Lehman's loss was a result of having held on to large positions in subprime and other lower-rated mortgage tranches when securitizing the underlying mortgages; whether Lehman did this because it was simply unable to sell the lower-rated bonds, or made a conscious decision to hold them, is unclear. In any event, huge losses accrued in lower-rated mortgage-backed securities throughout 2008. In the second fiscal quarter, Lehman reported losses of $2.8 billion and was forced to sell off $6 billion in assets. In the first half of 2008 alone, Lehman stock lost 73% of its value as the credit market continued to tighten. In August 2008, Lehman reported that it intended to release 6% of its work force, 1,500 people, just ahead of its third-quarter-reporting deadline in September.In September 2007, Joe Gregory appointed Erin Callan as CFO. On March 16, 2008, after rival Bear Stearns was taken over by JP Morgan Chase in a fire sale, market analysts suggested that Lehman would be the next major investment bank to fall. Callan fielded Lehman's first quarter conference call, where the firm posted a profit of $489 million, compared to Citigroup's $5.1 billion and Merrill Lynch's $1.97 billion losses which was Lehman’s 55th consecutive profitable quarter. The firm's stock price leapt 46 percent after that announcement.On June 9, 2008, Lehman Brothers announced US$2.8 billion second-quarter loss, its first since being spun off from American Express, as market volatility rendered many of its hedges ineffective during that time. Lehman also reported that it had raised a further $6 billion in capital. As a result, there was major management shakeup, in which Hugh "Skip" McGee III (head of investment banking) held a meeting with senior staff to strip Fuld and his lieutenants of their authority. Consequently, Joe Gregory agreed to resign as president and COO, and afterward he told Erin Callan that she had to resign as CFO. Callan was appointed CFO of Lehman in 2008 but served only for six months, before departing after her mentor Joe Gregory was demoted. Bart McDade was named to succeed Gregory as president and COO, when several senior executives threatened to leave if he was not promoted. McDade took charge and brought back Michael Gelband and Alex Kirk, who had previously been pushed out of the firm by Gregory for not taking risks. Although Fuld remained CEO, he soon became isolated from McDade's team.On August 22, 2008, shares in Lehman closed up 5% (16% for the week) on reports that the state-controlled Korea Development Bank was considering buying the bank. Most of those gains were quickly eroded as news came in that Korea Development Bank was "facing difficulties pleasing regulators and attracting partners for the deal." It culminated on September 9, when Lehman's shares plunged 45% to $7.79, after it was reported that the state-run South Korean firm had put talks on hold.Investor confidence continued to erode as Lehman's stock lost roughly half its value and pushed the S&P 500 down 3.4% on September 9. The Dow Jones lost 300 points the same day on investors' concerns about the security of the bank. The U.S. government did not announce any plans to assist with any possible financial crisis that emerged at Lehman.The next day, Lehman announced a loss of $3.9 billion and its intent to sell off a majority stake in its investment-management business, which includes Neuberger Berman. The stock slid seven percent that day. Lehman, after earlier rejecting questions on the sale of the company, was reportedly searching for a buyer as its stock price dropped another 40 percent on September 11, 2008.Just before the collapse of Lehman Brothers, executives at Neuberger Berman sent e-mail memos suggesting, among other things, that the Lehman Brothers' top people forgo multimillion-dollar bonuses to "send a strong message to both employees and investors that management is not shirking accountability for recent performance."Lehman Brothers Investment Management Director George Herbert Walker IV dismissed the proposal, going so far as to actually apologize to other members of the Lehman Brothers executive committee for the idea of bonus reduction having been suggested. He wrote, "Sorry team. I am not sure what's in the water at Neuberger Berman. I'm embarrassed and I apologize."Short-selling allegations - During hearings on the bankruptcy filing by Lehman Brothers and bailout of AIG before the House Committee on Oversight and Government Reform, former Lehman Brothers CEO Richard Fuld said a host of factors including a crisis of confidence and naked short-selling attacks followed by false rumors contributed to both the collapse of Bear Stearns and Lehman Brothers. House committee Chairman Henry Waxman said the committee received thousands of pages of internal documents from Lehman and these documents portray a company in which there was "no accountability for failure".An article by journalist Matt Taibbi in Rolling Stone contended that naked short selling contributed to the demise of both Lehman and Bear Stearns. A study by finance researchers at the University of Oklahoma Price College of Business studied trading in financial stocks, including Lehman Brothers and Bear Stearns, and found "no evidence that stock price declines were caused by naked short selling".Bankruptcy - On Saturday, September 13, 2008, Timothy F. Geithner, then the president of the Federal Reserve Bank of New York, called a meeting on the future of Lehman, which included the possibility of an emergency liquidation of its assets. Lehman reported that it had been in talks with Bank of America and Barclays for the company's possible sale; however, both Barclays and Bank of America ultimately declined to purchase the entire company, in the former case because the British government (in particular, the Chancellor of the Exchequer Alastair Darling and the CEO of the Financial Services Authority Hector Sants) refused to allow the transaction at the last minute, quoting stockholder regulations in the UK, despite a deal having apparently been completed.The next day, Sunday, September 14, the International Swaps and Derivatives Association (ISDA) offered an exceptional trading session to allow market participants to offset positions in various derivatives on the condition of a Lehman bankruptcy later that day. Although the bankruptcy filing missed the deadline, many dealers honored the trades they made in the special session.Shortly before 1 am Monday morning (UTC−5), Lehman Brothers Holdings announced it would file for Chapter 11 bankruptcy protection citing bank debt of $613 billion, $155 billion in bond debt, and assets worth $639 billion. It further announced that its subsidiaries would continue to operate as normal. A group of Wall Street firms agreed to provide capital and financial assistance for the bank's orderly liquidation and the Federal Reserve, in turn, agreed to a swap of lower-quality assets in exchange for loans and other assistance from the government. The morning witnessed scenes of Lehman employees removing files, items with the company logo, and other belongings from the world headquarters at 745 Seventh Avenue. The spectacle continued throughout the day and into the following day.Later that day, the Australian Securities Exchange (ASX) suspended Lehman's Australian subsidiary as a market participant after clearing-houses terminated contracts with the firm. Lehman shares tumbled over 90% on September 15, 2008. The Dow Jones closed down just over 500 points on September 15, 2008, which was at the time the largest drop in a single day since the days following the attacks on September 11, 2001.In the United Kingdom, the investment bank went into administration with PricewaterhouseCoopers appointed as administrators. In Japan, the Japanese branch, Lehman Brothers Japan Inc., and its holding company filed for civil reorganization on September 16, 2008, in Tokyo District Court. On September 17, 2008, the New York Stock Exchange delisted Lehman Brothers.On March 16, 2011 some three years after filing for bankruptcy and following a filing in a Manhattan U.S. bankruptcy court, Lehman Brothers Holdings Inc announced it would seek creditor approval of its reorganization plan by October 14 followed by a confirmation hearing to follow on November 17.LiquidationBarclays acquisition - On September 16, 2008, Barclays PLC announced that they would acquire a "stripped clean" portion of Lehman for $1.75 billion, including most of Lehman's North America operations. On September 20, 2008, a revised version of the deal, a $1.35 billion (£700 million) plan for Barclays to acquire the core business of Lehman (mainly its $960-million headquarters, a 38-story office building in Midtown Manhattan, with responsibility for 9,000 former employees), was approved. Manhattan court bankruptcy Judge James Peck, after a 7-hour hearing, ruled: "I have to approve this transaction because it is the only available transaction. Lehman Brothers became a victim, in effect the only true icon to fall in a tsunami that has befallen the credit markets. This is the most momentous bankruptcy hearing I've ever sat through. It can never be deemed precedent for future cases. It's hard for me to imagine a similar emergency."Luc Despins, then a partner at Milbank, Tweed, Hadley & McCloy, the creditors committee counsel, said: "The reason we're not objecting is really based on the lack of a viable alternative. We did not support the transaction because there had not been enough time to properly review it."[citation needed] In the amended agreement, Barclays would absorb $47.4 billion in securities and assume $45.5 billion in trading liabilities. Lehman's attorney Harvey R. Miller of Weil, Gotshal & Manges, said "the purchase price for the real estate components of the deal would be $1.29 billion, including $960 million for Lehman's New York headquarters and $330 million for two New Jersey data centers. Lehman's original estimate valued its headquarters at $1.02 billion but an appraisal from CB Richard Ellis this week valued it at $900 million." Further, Barclays will not acquire Lehman's Eagle Energy unit, but will have entities known as Lehman Brothers Canada Inc, Lehman Brothers Sudamerica, Lehman Brothers Uruguay and its Private Investment Management business for high-net-worth individuals. Finally, Lehman will retain $20 billion of securities assets in Lehman Brothers Inc that are not being transferred to Barclays. Barclays acquired a potential liability of $2.5 billion to be paid as severance, if it chooses not to retain some Lehman employees beyond the guaranteed 90 days.Nomura acquisition - Nomura Holdings, Japan's top brokerage firm, agreed to buy the Asian division of Lehman Brothers for $225 million and parts of the European division for a nominal fee of $2. It would not take on any trading assets or liabilities in the European units. Nomura negotiated such a low price because it acquired only Lehman's employees in the regions, and not its stocks, bonds or other assets. The last Lehman Brothers Annual Report identified that these non-US subsidiaries of Lehman Brothers were responsible for over 50% of global revenue produced.Sale of asset management businesses - On September 29, 2008, Lehman agreed to sell Neuberger Berman, part of its investment management business, to a pair of private-equity firms, Bain Capital Partners and Hellman & Friedman, for $2.15 billion. The transaction was expected to close in early 2009, subject to approval by the U.S. Bankruptcy Court, but a competing bid was entered by the firm's management, who ultimately prevailed in a bankruptcy auction on December 3, 2008. Creditors of Lehman Brothers Holdings Inc. retain a 49% common equity interest in the firm, now known as Neuberger Berman Group LLC. In Europe, the Quantitative Asset Management Business has been acquired back by its employees on November 13, 2008 and has been renamed back to TOBAM.Financial fallout - Lehman's bankruptcy was the largest failure of an investment bank since Drexel Burnham Lambert collapsed amid fraud allegations 18 years prior. Immediately following the bankruptcy filing, an already distressed financial market began a period of extreme volatility, during which the Dow experienced its largest one day point loss, largest intra-day range (more than 1,000 points) and largest daily point gain. What followed was what many have called the "perfect storm" of economic distress factors and eventually a $700bn bailout package (Troubled Asset Relief Program) prepared by Henry Paulson, Secretary of the Treasury, and approved by Congress. The Dow eventually closed at a new six-year low of 7,552.29 on November 20, followed by a further drop to 6626 by March of the next year. Durvexity spiked, due to funding issues at the major investment banks.The fall of Lehman also had a strong effect on small private investors such as bond holders and holders of so-called Minibonds. In Germany structured products, often based on an index, were sold mostly to private investors, elderly, retired persons, students and families. Most of those now worthless derivatives were sold by the German arm of Citigroup, the German Citibank now owned by Crédit Mutuel.Ongoing litigation - On March 11, 2010, Anton R. Valukas, a court-appointed examiner, published the results of its year-long investigation into the finances of Lehman Brothers. This report revealed that Lehman Brothers used an accounting procedure termed repo 105 to temporarily exchange $50 billion of assets into cash just before publishing its financial statements. The action could be seen to implicate both Ernst & Young, the bank's accountancy firm and Richard S. Fuld, Jr, the former CEO. This could potentially lead to Ernst & Young being found guilty of financial malpractice and Fuld facing time in prison.According to The Wall Street Journal, in March 2011, the SEC announced that they weren't confident that they could prove that Lehman Brothers violated US laws in its accounting practices.[In October 2011 the administrators of Lehman Brothers Holding Inc. lost their appeal to overturn a court order forcing them to pay £148 million into their underfunded pensions plan.As of January 2016, Lehman has already paid more than $105 billion to its unsecured creditors. In addition, JPMorgan will pay $1.42 billion in cash to settle a lawsuit accusing JPMorgan of draining Lehman Brothers liquidity right before the crash. The settlement would permit another $1.496 billion to be paid to creditors and a separate $76 million deposit.Source: Lehman Brothers - Wikipedia

Seriously??The USA is NOTHING NEAR like Venezuela! Thank God!Look at all President Trump has done for this country since becoming President Just 2 years ago! No matter HOW much the Liberal democrats want to hate him and want to turn the USA into a Socialist Venezuela…..In his 2 years he has accomplished (much to the democrat's distaste):The stock market is currently up more than 33% (or a third) since President Trump won the electionToday there are more people working than at any time in US history. Under President Trump the US has set the record for the most Americans in the work force nine times.Employees are seeing increases in their pay due to lower Federal taxes being deducted from their paychecks.Followed through on his promise to move the U.S. Embassy in Israel to Jerusalem.Has been working thru summits with North Korea that may end in a de-nuclearized Korean Peninsula, something unimaginable for 70 years.At the end of the 1st Quarter 2018 the national GDP reached nearly $20 trillion for the highest recorded GDP in US history.The President confirmed the most circuit court judges of any President in his first year, and secured Justice Neil Gorsuch’s confirmation to the United States Supreme Court.He signed more than 90 executive actions in his first 100 days alone. The actions included –* Dismantling Obama’s climate change initiatives.* Travel bans for individuals from a select number of countries embroiled in terrorist atrocities.* Enforcing regulatory reform.* Protecting Law enforcement.* Mandating for every new regulation to eliminate two.* Defeating ISIS.* Rebuilding the military.* Building a border wall.* Cutting funding for sanctuary cities.* Approving Keystone and Dakota pipelines.* Reducing regulations on manufacturers.* Placing a hiring freeze on federal employees.* Exiting the US from the TPP.No matter HOW BADLY the Democrat party tries to tear him down…he just keeps on with the accomplishments! Frankly, I don’t CARE what he did before he took office, he was a private citizen and hasn’t (as far as Republicans are concerned) dishonored his family or time in office since being sworn in (unlike previous presidents). His tax returns are his and his accountants business. I don’t CARE what is in them…..and there is NO LAW that says he HAS to make them private.OBAMA:Has Lied and kept frozen his birth certificate, School records,Lied to the fact he was a PRACTICING MUSLIM for 31 years and only changed when forced by his wife so he could run for PresidentCarried out military interventionism in Libya without Congressional approvalviolated the Constitution when he launched military operations in Libya without Congressional approval.Gave a no-bid contract to Halliburton cronies – just like Bush didHad an administration full of lobbyists, after promising he wouldn’t have anyHas close ties to Wall St., but pretended to support Occupy Wall St.Broke his promise to close Guantanamo Bay (which may VERY WELL COME BACK TO HAUNT HIM!)Nominated a six-time tax cheater to head the government agency that enforces the tax lawsIncreased the national debt more in one term than Bush did in two terms.supported unconstitutional, indefinite detention of U.S. citizens without filing any chargesSupported and defended unconstitutional, warrantless wiretappingHad four U.S. citizens killed without judicial processStole money from retired teachers and police officersIllegally put thousands of guns into hands of criminals i.e. In Operation Fast and Furious, the Obama administration ordered gun storeowners to illegally sell thousands of guns to criminals. U.S. Border Patrol agent Brian Terry was murdered with one of these guns. The murderer was sentenced to 30 years in prison, but his accomplices, Eric Holder and Barack Obama, haven’t even been arrested or charged.Fired Inspector General for discovering that Obama’s friend had embezzled government fundsObama made a campaign promise to have all of the health care reform negotiations broadcast on C-SPAN, he broke that promise after he was elected. The secrecy of these negotiations was so strong that U.S. Congresswoman and Speaker of the House Nancy Pelosi (D-California) said, “We have to pass the bill so that you can find out what is in it.”Lied about letting people keep their health insurance “No matter how we reform health care, we will keep this promise to the American people… If you like your health care plan, you’ll be able to keep your health care plan, period. No one will take it away, no matter what.” “Here is a guarantee that I’ve made. If you have insurance that you like, then you will be able to keep that insurance.”However, after Obamacare was passed, the Congressional Budget Office said that the law would cause seven million people to lose their employer provided insurance.After Obamacare was passed, 1199SEIU United Healthcare Workers East announced that it would drop health insurance for the children of more than 30,000 low-wage home attendants. Mitra Behroozi, executive director of benefit and pension funds for 1199SEIU stated“… new federal health-care reform legislation requires plans with dependent coverage to expand that coverage up to age 26… meeting this new requirement would be financially impossible.”Also, after Obamacare was passed, the Franciscan University of Steubenville dropped its coverage in response to the law.Universal Orlando dropped its coverage for part time employees in response to Obamacare.In addition, after Obamacare was passed, Forbes reported“The House Ways and Means Committee has released a new report that sheds light onto how Obamacare incentivizes companies to dump their workers onto the new law’s subsidized exchanges.”Also after Obamacare was passed, MSN reported“The Affordable Care Act mandate most commonly known as Obamacare has some tight stipulations that, CNN says, are forcing health care companies to rip up most of their current plans and draft new ones that comply. According to a University of Chicago study, just about half of the individual health care plans currently on the market won’t cut it once key provisions of the Affordable Care Act kick in next year.”Furthermore, it was reported that Obamacare would cause 58,000 Aetna and United Health Group customers in California to lose their insurance.In response to Obamacare, some employers have dropped coverage for their employees’ spouses. In August 2013, it was reported that UPS had announced that it would be dropping 15,000 spouses of its employees from its health insurance, and that it had cited Obamacare as the reason it was doing this.The chain of Wegmans supermarkets cancelled the policies of its part time employees in response to Obamacare.In July 2013, leaders of the Teamsters, UFCW, and UNITE-HERE sent a letter to Harry Reid and Nancy Pelosi which said that Obamacare“will shatter not only our hard-earned health benefits… these restrictions will make non-profit plans like ours unsustainable… we can no longer stand silent in the face of elements of the Affordable Care Act that will destroy the very health and wellbeing of our members along with millions of other hardworking Americans”In August 2013, it was reported that 106,000 New Jersey citizens would lose their health insurance because of Obamacare.In September 2013, IBM announced that it would be switching 110,000 of its retirees from their current IBM-provided health insurance to the Obamacare exchanges.In September 2013, Trader Joe’s announced that, in response to Obamacare, it would stop providing insurance to its part time employees.In October 2013, it was reported that at least 146,000 people in Michigan would be losing their insurance because of Obamacare.In October 2013, it was reported that Florida Blue would be dropping 300,000 customers because of Obamacare.In October 2013, it was reported that 491,977 individual insurance plans in California would be canceled because of Obamacare.In October 2013, it was reported that, in response to Obamacare, Home Depot would stop providing insurance to its part time employees.In October 2013, it was reported that Obamacare was forcing CareFirst BlueCross BlueShield to cancel the insurance of 76,000 people in Virginia, Maryland, and Washington, D.C., because their policies did not meet the minimum requirements of Obamacare.In October 2013, it was reported that hundreds of thousands of people in Washington state would be losing their insurance because of Obamacare.In November 2013, it was reported that nearly nearly 250,000 people in Colorado would lose their insurance because of Obamacare.In January 2014, it was reported that, in response to Obamacare, Target was planning to stop offering insurance to its part time employees.19) Lied about the cost of ObamacareBefore Obamacare was passed, Obama promised“I will not sign a plan that adds one dime to our deficits – either now or in the future. I will not sign it if it adds one dime to the deficit, now or in the future, period. And to prove that I’m serious, there will be a provision in this plan that requires us to come forward with more spending cuts if the savings we promised don’t materialize.”However, after Obama signed it, the Washington Post reported that it would add more than $340 billion to the budget deficit over the next decade.In March 2012, the Congressional Budget Office said that over the next decade, Obamacare would cost twice as much as what Obama had promised.In May 2013, it was reported that Obamacare’s program for high risk patients was more expensive than what Obama had promised.20) Gave tax dollars to campaign contributors and lobbyists, and falsely claimed the money was for “green energy”In 2009 the Obama administration gave $535 million to Solyndra, claiming that it would create 4,000 new jobs. However, instead of creating those 4,000 new jobs, the company went bankrupt. It was later revealed that the company’s shareholders and executives had made substantial donations to Obama’s campaign, that the company had spent a large sum of money on lobbying, and that Solyndra executives had had many meetings with White House officials.It was also revealed that the Obama administration had already been aware of Solyndra’s financial troubles. For example, according to the company’s security filings in 2009, the company had been selling its product for less than the cost of production. In 2010, Obama visited the Solyndra factory and cited it as a role model for his “stimulus” program, saying “It’s here that companies like Solyndra are leading the way toward a brighter and more prosperous future.” The Washington Post wrote of this, “Administration officials and outside advisers warned that President Obama should consider dropping plans to visit a solar startup company in 2010 because its mounting financial problems might ultimately embarrass the White House.” Solyndra was a private company, but had been planning to use its government loans as a means of going public – so when Obama knowingly overstated the company’s condition in order to help his friends at Solyndra, he broke the same law that Martha Stewart had been sent to prison for breaking.In September 2011, federal agents visited the homes of Brian Harrison, the company’s CEO, and Chris Gronet, the company’s founder, to examine computer files and documents. Also in September 2011, the U.S. Treasury Department launched an investigation.On September 13, 2011, the Washington Post reported on emails which showed that the Obama administration had tried to rush federal reviewers to approve the loan so Vice President Joe Biden could announce it at a September 2009 groundbreaking for the company’s factory. The company was a hallmark of President Obama’s plan to support clean energy technologies.The New York Times reported that government auditors and industry analysts had faulted the Obama administration for failing to properly evaluate the company’s business proposals, as well as for failing to take note of troubling signs which were already evident. In addition, Frank Rusco, a program director at the Government Accountability Office, had found that the preliminary loan approval had been granted before officials had completed the legally mandated evaluations of the company.The New York Times quoted Shyam Mehta, a senior analyst at GTM Research, as saying “There was just too much misplaced zeal at the Department of Energy for this company.” Among 143 companies that had expressed an interest in getting a loan guarantee, Solyndra was the first one to get approval. During the period when Solyndra’s loan guarantee was under review, the company had spent nearly $1.8 million on lobbying. Tim Harris, the CEO of Solo power, a different solar panel company which had obtained a $197 million loan guarantee, told the New York Times that his company had never considered spending any money on lobbying, and that “It was made clear to us early in the process that that was clearly verboten… We were told that it was not only not helpful but it was not acceptable.”The Washington Post reported that Solyndra had used some of the loan money to purchase new equipment which it never used, and then sold that new equipment, still in its plastic wrap, for pennies on the dollar. Former Solyndra engineer Lindsey Eastburn told the Washington Post, “After we got the loan guarantee, they were just spending money left and right… Because we were doing well, nobody cared. Because of that infusion of money, it made people sloppy.”On September 29, 2011, the Washington Post reported that the Obama administration had continued to allow Solyndra to receive taxpayer money even after it had defaulted on its $535 million loan.On October 7, 2011, The Washington Post reported that newly revealed emails showed that Energy Department officials had been warned that their plan to help Solyndra by restructuring the loan might be illegal, and should be cleared with the Justice Department first. However, Energy Department officials moved ahead with the restructuring anyway, with a new deal that would repay company investors before taxpayers if the company were to default. The emails showed concerns within the Obama administration about the legality of the Energy Department’s actions. In addition, an Energy Department “stimulus” adviser, Steve Spinner, had pushed for the loan, despite having recused himself because his wife’s law firm had done work for the company.In January 2012, CBS News reported that Solyndra had thrown millions of dollars worth of brand new glass tubes into garbage dumpsters, where they ended up being shattered. Solyndra told CBS that it had conducted an exhaustive search for buyers of the glass tubes, and that no one had wanted them. However, CBS discovered that Solyndra had not offered the glass tubes for sale at either one of its two asset auctions that took place in 2011. In addition, David Lucky, a buyer and seller of such equipment, told CBS that he would have bought the tubes if he had had a chance to do so. Greg Smestad, a solar scientist who had consulted for the Department of Energy, also agreed that the tubes had value, and had asked Solyndra to donate any unwanted tubes to Santa Clara University. Smestad stated, “That really makes me sad… Those tubes represent intellectual investment. These could have had a better value to do public good. I think they owed the U.S. taxpayer that.”Solyndra was not the only “green energy” company involved in this type of fraud. After Obama gave Raser Technologies $33 million to build a power plant, the company declared bankruptcy, and owed $1.5 million in back taxes. After Obama gave Abound Solar, Inc. a $400 million loan guarantee to build phot ovoltaic panel factories, the company halted production and laid off 180 employees. After Obama gave Beacon Power a $43 million loan guarantee to build green energy storage, the company filed for bankruptcy. After Obama approved $2.1 billion in loan guarantees for Solar Trust of America so it could build solar power plants, the company filed for bankruptcy.In April 2012, CBS News reported that Solyndra had left a substantial amount of toxic waste at its abandoned facility in Milpitas, California. In May 2014, it was reported that the building in Longmont, Colorado that had been abandoned by Abound Solar in 2012 was still contaminated with cadmium, a toxic metal which can cause cancer.Although Obama stated that all of the “green energy” companies that received taxpayer money were chosen “based solely on their merits,” the truth is that 71% of these grants and loans went to Obama donors and fundraisers, who raised $457,834 for his campaign, and were later approved for grants and loans totaling more than $11 billion. By November 2011, the Energy Department’s inspector general had begun more than 100 criminal investigations related to Obama’s “stimulus.” Although an “independent” review said that Obama had not done anything wrong, it was later reported that Herbert M. Allison Jr., the person who had conducted this “independent” review, donated $52,500 to Obama’s campaign.21) Said the health insurance mandate was not a tax, but later told the Supreme Court that it wasBefore Obama’s health care reform was passed, he said that the mandate was not a tax. However, after it was passed, the Obama administration argued in front of the Supreme Court that the mandate really was a tax.22) Ignored constitutional requirements for appointeesIn February 2009, U.S. Senator Robert Byrd (D-West Virginia) expressed concern that Obama’s dozens of czars might violate the U.S. Constitution, because they were not approved by the U.S. Senate. U.S. Senator Russ Feingold (D-Wisconsin)expressed a similar concern in September 2009.23) Used tax dollars to glorify murderersThe Obama administration spent $1.6 million to restore graffiti that glorified communist murderers Che Guevara and Fidel Castro.24) Falsely claimed that the U.S. Supreme Court had never overturned any laws that had been passed by CongressDespite having taught constitutional law at one of the most prestigious law schools in the country, in April 2012 Obama falsely claimed that the U.S. Supreme Court had never overturned any laws that had been passed by Congress.25) Supported new bailouts for speculators who caused housing bubbleIn March 2012, Obama announced a new set of bailouts for speculators who had caused the housing bubble.26) Spent taxpayer money to see if using cocaine helped rats to enjoy the music of Miles DavisObama’s administration funded a study to see whether or not rats’ enjoyment of the music of Miles Davis was increased when the rats were high on cocaine.27) Tried to outlaw family farmsIn April 2012, the Obama administration proposed new regulations which would prohibit farm children under 18 from working at grain elevators, silos, feed lots, stockyards, and livestock auctions, as well as from storing, marketing and transporting farm product raw materials. Critics claimed that this would prevent children from the common practice of working on their friends’ and relatives’ farms, and that farm children did not need “help” from a community organizer in Washington.28) Claimed that written tests are a form of “racial discrimination”The Obama administration accused fire and police departments in Jacksonville, Florida, New York City, and Dayton, Ohio of “racial discrimination” because they required potential firefighters and police officers to take a written test. Ten real examples of these “racist” questions from the New York test can be read here.29) Illegally demanded monetary payment for Freedom of Information Act requestThe Obama administration demanded that the Goldwater Institute pay $78,935.80 before it would share public records which it had requested under the Freedom of Information Act.30) Fined public school $15,000 for selling sodaThe Obama administration fined a high school $15,000 for selling soda to students during lunch.31) Closed the Vietnam Memorial for seven hours on Memorial Day so he could have his picture takenOn Memorial Day 2012, Obama prevented Vietnam veterans and their friends and families from visiting the Vietnam Memorial for seven hours so he could have his picture taken.32) Had the government take 60.8% ownership of General MotorsIn July 2009, Obama had the government take 60.8% ownership of General Motors, and fired the CEO.33) Forced banks to give mortgages to people who could not afford to pay them back, and collected $23,000 in legal fees for himself for doing soWhile working as a “community organizer,” Obama filed lawsuits which forced banks to give mortgages to people with bad credit and low incomes. As a result, many of these people ended up defaulting on their mortgages. As their attorney, Obama collected $23,000 in legal fees for himself.Then in April 2013, during Obama’s second term as President, the Washington Post reported that President Obama was still pressuring banks “to make home loans to people with weaker credit.”34) Falsely claimed to support the second amendmentAlthough Obama stated, “I have always believed that the Second Amendment protects the right of individuals to bear arms,” the National Rifle Association gave Obama a rating of ‘F’ based on his voting record.35) Falsely said he would not raise taxes on the poor and middle classOn September 12, 2008, Obama promised:“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”However, less than three months into his Presidency, he broke that promise36) Rejected international help to clean up BP oil spillAfter the BP oil spill, Obama rejected offers of cleanup help from Canada, Croatia, France, Germany, Ireland, Mexico, the Netherlands, Norway, Romania, South Korea, Spain, Sweden, the United Kingdom, and the United Nations.37) Tried to replace science with political correctnessIn July 2010, Charles Bolden, the administrator of NASA, said that Obama had told him that the primary purpose of NASA was “to reach out to the Muslim world.”38) Made recess appointments when Congress was not in recessIn January 2012, Obama violated the Constitution by making four recess appointments when Congress was not in recess. Recess appointments themselves are constitutional, but only if they are made when Congress is actually in recess.In January 2013, a federal appeals court ruled that Obama’s appointments had violated the Constitution.In May 2013, a second federal appeals court also ruled that Obama’s appointments had violated the Constitution.In July 2013, a third federal appeals court also ruled that Obama’s appointments had violated the Constitution.THERE ARE MANY MANY MORE YOU CAN FIND ONLINE YOURSELF!