re: ["Is this SOTB or MISH? SOTB you have IMPRESSED me LARGE
the last few days. What college are you currently teaching at
professor? I would love to attend your day classes. Seriously,
you are on FIRE!!!! Thanks BIG!"]
Thanks for the kind words Bill.
Actually, my employment contract is up, and I've decided
that I'm tired of working for someone else. I'm in the midst
of a mid-life crisis (you know... sports cars, and girl-
friends 20 years your junior). I want to go fishing when I
want, watch more baseball, be able to read 2-3-4 hours a day
if I want to, watch more movies, listen to more music, and
work less... but, then who doesn't?
And I'm not on FIRE, as much as I'm PISSED OFF, mad as hell,
and trying to figure out a way I don't have to take it any more
...without going to jail <vbg>.
We've seen a big chunk of America stolen right before our
eyes, right under our noses, and in broad #@$%'n daylight,
and none of these bastards are in jail!?!?!
Jeff Skilling, Dennis Kozlowski and Bernie Ebbers?
Someone convince me that they hurt more people, cost more
jobs, destroyed more wealth, or damaged the US economy more
than the CEO's at the investment & mortgage banks, or Alan Greenspan?
Dennis Kozlowski with $1 Million Dollar Toga partys,
and $4,000 shower curtains, or Angelo Mozillo with a
$100 billion in liar loans that all blew up, and helped
take down the entire mortgage industry, not to mention
Fannie & Freddie?
And don't even get me started on the politicians...
I love Ron Paul. But, he's stopped far short of saying
what really needs to be said. I honestly think that it's
going to take a Jim Bunning, or a Ron Paul - literally,
committing political and professional suicide, to say what
needs to be said, and to make the allegations that need to
be made, and to speak publicly the truths that need to be
spoken, before the public realizes how serious the damage is,
and will ultimately be to the US economy, and to our
children's future. Not to mention how much money they
sucked out of the system.
$40 million dollar brownstones, $15 million dollar ski
chalets, $10 million dollar salaries, $30 million dollar
bonuses, and $100 million dollar golden parachutes for
taking down #@$%'n Bear, and perhaps Lehman, Merrill, and
Citi before this is over.
50, 80, a 100 years of equity capital -- vaporaized
... poof, up in smoke.
Paulson is worth a reported $900 million. Do you think
he's worried more about Aunt Millie in Stockton, or
Abbey Joseph Cohen, and the rest of his former partners
at Goldman?
The sad damn thing, is there is no perfect, or easy
solution. If there was, they'd take it - because
they've seen Jesus... and he's pissed too.
I agree 110% with everyone on the "moral hazard" issue,
and I agree with most of what Mish has been writing, he's
done an incredible job in chronicling the credit crisis.
But, it's too late for avoiding moral hazard. The price
is simply too high to pay for the moral high ground. And
as I mentioned earlier... they @#$%'n planned it that way.
They put you and I, the economy, and our kids futures
between them, and moral hazard.
They robbed the bank and they got away with it.
And Alan Greenspan was both the architect, and the enabler.
He made his irrational exhuberhance statement in 1996.
LTCM was a warning shot... and he ignored it. He just
threw more gas on the fire.
He solved the bursting of the Tech & Internet Bubble
by just creating another one... only bigger in housing.
And he knew there was a problem with derivatives
years ago. The BIS, the Italian central bank, and
many others were crying for years, for derivatives
to be reigned in, calling it a when, not if crisis.
What I despise most is that Greenspan knew. He knew
what he was doing. He made a choice and he sold his
soul.
From being both an insider, and a devote of Ayn Rand's
objectivism, to writing "Gold and Economic Freedom" in
1966... to becoming the anti-Christ of gold and sound
money, and a puppet of the Rothschilds and the
Rockefellers.
That my friends... is selling your soul to the
highest bidder.
I can only hope that there is a special place in
hell reserved for "Sir Alan."
S.O.T.B. |
