CNBC Spin Vs. Rick Santelli's Inconvenient Truth...
Another classic PCnbc moment.
Did you just see the debate about derivatives and
the Fed becoming sole market regulator?
Larry Kudlow was babbling about market nyphomania and french
kissing, while Janet Tavacoli was being an uncoopertive guest,
as she wouldn't let Melissa Francis keep feeding the viewers
her scripted talking points supporting the Fed.
And then they brought in Rick Santelli.
Here's the problem...
The Fed wants to allow the banks to use phony stress tests to
keep themselves and the market propped up. And they want to
allow the banks to keep trillions of dollars of toxic derivatives
(yes, trillions with a "T"), hidden in the dark.
Santelli came on and made the point that there could not be
any true market reform until these toxic derivatives were
brought out of the dark, and into the light of day on
regulated exchanges.
But that didn't fit Melissa Francis' talking points and twice
she sarcastically muttered - "thanks Rick for coming on and
solving all our problems."
You see, they don't want America to know the truth.
They want us to believe that the problem is so big, and so
complex that there are no simple solutions, and that only
the Fed, and a sole regulator is capable of leading America
out this economic crisis.
Melissa the mouthpiece didn't like Santelli's inconvenient
and simple truth about moving all the toxic paper into the
light of day and on to regulated exchanges... because that
would keep the Fed from picking winners and losers, and
gaming the markets.
Melissa's talking points want to convince you that the
disinfectant of the light of day is evil, and the darkness
of an un-audited Fed, and Enron style off balance sheet SIV's,
and unregulated derivatives is good.
Darkness good - light bad.
Unregulated good - regulated bad.
Talking points good - Santelli bad.
You see... if these trillions of dollars of derivatives
we're ever allowed to see the light of day, it would
expose the mega banks as being insolvent and bankrupt
beyond repair.
And most importantly... it would bring the real problem
of this economic crisis into the light of day.
UNREGULATED LEVERAGE AND UNREGULATED DERIVATIVES
They want to try to convince America that this is all their
fault because they bought too much house, too many SUV's,
too many Plasma TV's and too many X-Boxes.
It wasn't Phil Gramm, Chris Dodd, or Barney Frank's fault.
And it wasn't Hank Paulson, Robert Rubin, or Angelo Mozilo's
fault.
It's yours.
You the taxpayer.
It's YOUR fault.
And the only way they can loot the US Treasury and turn your
children and grandchildren into indentured servants, is to
keep you believing the big lie.
And you wondered why Sherman Skolnick called it the...
oil soaked, spy riddled, monopoly press?
Congratulations to Melissa Francis for surpassing Dennis Kneale
in becoming CNBC's "most useful idiot."
...I guess being a fluffer for OPEC wasn't enough.
SOTB |
