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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (118023)	3/20/2009 12:30:13 PM
From: GuinnessGuy	Read Replies (1) \| Respond to of 132070

Mike, Looks like the gov't is about to do an about-face here...or is trying to leave that option more open. I think they may be realizing that they are heading down the same path that Japan did way back when(and has never recovered). US Is Rushing to Get More Control Of Financial Giants Friday March 20, 2009, 8:36 am EDT The White House and Congress are rushing to write legislation that allows the federal government to take over and unwind the businesses of a large financial institution-such as AIG (NYSE:AIG - News)or Citigroup (NYSE:C - News)-the way it now can with commercial banks, CNBC has learned.[SNIP] finance.yahoo.com

To: Knighty Tin who wrote (118023)	3/20/2009 3:56:26 PM
From: dave rose	Read Replies (1) \| Respond to of 132070

Mike... I can finally give a recommendation for one of your comments :-) Dave

To: Knighty Tin who wrote (118023)	3/21/2009 7:25:12 AM
From: GuinnessGuy	Read Replies (1) \| Respond to of 132070

Mike and All, Funnily written story on the meltdown from Rolling Stone. Reads like they agree with the Kleptocracy theory, but use different words: [SNIP] The crisis was the coup de grâce: Given virtually free rein over the economy, these same insiders first wrecked the financial world, then cunningly granted themselves nearly unlimited emergency powers to clean up their own mess. And so the gambling-addict leaders of companies like AIG end up not penniless and in jail, but with an Alien-style death grip on the Treasury and the Federal Reserve — "our partners in the government," as Liddy put it with a shockingly casual matter-of-factness after the most recent bailout. The mistake most people make in looking at the financial crisis is thinking of it in terms of money, a habit that might lead you to look at the unfolding mess as a huge bonus-killing downer for the Wall Street class. But if you look at it in purely Machiavellian terms, what you see is a colossal power grab that threatens to turn the federal government into a kind of giant Enron — a huge, impenetrable black box filled with self-dealing insiders whose scheme is the securing of individual profits at the expense of an ocean of unwitting involuntary shareholders, previously known as taxpayers. [SNIP] rollingstone.com