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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (149851)	11/12/2010 1:56:41 PM
From: Little Joe	Respond to of 541763

When will you learn I think Bush was a major part of the problem. lj

To: Wharf Rat who wrote (149851)	11/12/2010 2:03:38 PM
From: Little Joe	Respond to of 541763

The more I read Denninger the more I like him. market-ticker.org With the Republican landslide, the super-rich have nothing to fear from Congress. No need to worry about tax increases or tighter regulations now. The hedge funds will be able to hang on to their 15 percent tax rate (by claiming their earnings as capital gains) while raking in $900,000 an hour (not a typo). Meanwhile the pressure mounts to cut social spending -- because, of course, we've got to combat the large deficits we racked up by giving tax breaks to the rich, bailing out Wall Street, and dealing with the financial crash that Wall Street created. (We get a deficit commission instead of a jobs commission?) Let me guess: "Hope and Change" had nothing to do with it, right? Your (the Left's) President didn't actually: * Refuse to declare a banking holiday and take the banks into receivership as his first act as President. You know, after stating he wasn't elected to cater to Wall Street? Yes, that. * Appoint the chief looter from the NY Fed to head Treasury - a guy who admittedly cheated on his own taxes and blamed it on a computer program. Yes, the same guy who had to know that Citi was writing crap mortgages (and selling them, since those securities were repo'd through the NY Fed literally daily) and had constructive notice of Lehman's failure more than a month before it blew up. Yet this was "Hope and Change"'s choice to head Treasury. * Reappoint Bernanke to The Fed and remain supportive of him to this day - even after Alan Greenspan admits, this last weekend, that the banks were engaged in criminal activity. An honest politician (can you use those two words in the same sentence?) would react to this by demanding Bernanke's immediate resignation, given that Bernanke was at The Fed while Greenspan ran the joint! * Extort FASB to allow the banks to appear to be solvent when they're really not. Yes, that hearing. I'm sure you remember it. Spring 2009 and Kanjorski. I remember it well. Yes, it resulted in a huge stock market rally. But the bad debt is still there. * Spent over $3 trillion dollars of borrowed money to cover up all of the rotting dead fish on the bank balance sheets. That's right. "Stimulus" that didn't - not one dime directed into an emergency plan to, for instance, build nuclear power plants (and therefore help solve our energy dependence.) No, instead the entirety of the program was and is about covering up fraud. * Has failed to direct Holder to issue even one indictment against a major bank for their role in the financial mess. Over 150,000 admitted fraudulent affidavits later and an economic collapse and yet not one indictment has issued. Not one. Never mind the bogus MBS that almost-certainly have no actual securitites in them - that is, they're empty boxes. How do I know this? Becaese there are multiple people who have it on good information that this is exactly what happened - and they're very believable, in that if it wasn't what happened someone would have shown up with a properly-endorsed note. Somewhere. Of course you can't produce what doesn't exist...... The so-called "progressives" are not progressive at all. Oh sure, we hear bleating about "Green Jobs" and similar, but this is small potatoes. The problem lies in the looting - and until it stops, there will be no solutions that work. Democrats want to pretend they didn't have their fair part in this. Barney Frank wasn't really sleeping with one of the Fan/Fraud crowd - literally - post their "employment." There really wasn't an attempt to deflect any meaningful reform that came out of Dodd. The extortion of FASB wasn't "real." The indictments didn't need to be issued. And so on. Cut the crap folks. The so-called "Progressives" are anything but. You want to argue over Abortion and Gays in the military as a diversion for the looting that you have permitted exactly as have the Republicans! lj