tag:blogger.com,1999:blog-53246864840716464.post7689906464416730947..comments2024-02-29T00:46:38.800-08:00Comments on Washingtons Blog: The Guy Who Brought Down AIG - and Maybe the World Economy - Gets Off Scott-Free, and Gets to Keep $315 Million in LootUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-53246864840716464.post-1942620706224086582010-05-01T10:25:25.895-07:002010-05-01T10:25:25.895-07:00Rather than finding a solution to the cycle of boo...Rather than finding a solution to the cycle of boom, bust and bailout, our politician seem more focused on partisan bickering. Although I appreciate the efforts of Carl Levin to investigate Goldman Sachs, and the other Democrat initiatives to mitigate the banking failures , I believe the recent efforts at legislating financial reform has resulted in exaggerated partisan recrimination rather than serious and thorough regulation and oversight. The GOP criticizes the Dems for being negligent and wasteful, as if the Troubled Assets Recovery Plan (TARP) wasn't created during the George Bush Jr. administration. Meanwhile the Tea Partiers, led by Fox and friends' Sarah Palin, seem disturbed by the Federal Reserve's flagrant deficit spending but don't seem to have a coherent answer to these problems besides gun totting and wanting smaller government as long as their Medicare isn't affected.<br /> <br />America is in desperate need to reconsider it's approach to "welfare for the rich" bankers and their lobbyists. TARP may cost taxpayers over a hundred billion dollars, while benefiting those corrupt financial organizations who created the economic recession by marketing the financial derivatives that precipitately lost value when it was realized that their triple A ratings were undeserved as the bonds were backed by home mortgages tottering on default. Fannie Mae and Freddie Mac, nicknames for two quasi-government mortgage clearing houses, also lost us billions of dollars as they were the bankers' buyers of last resort for the mortgages nobody else wanted. AIG, the world's largest insurer, who foolishly insured these worthless derivatives and now has a debt larger than the national debt of France, has become the dubious property of the American taxpayer due to TARP. <br /> <br />While Washington politicians and bureaucrats fiddle around while our economy burns to the ground, the taxpayers are losing their homes, jobs, and patience. Big Government and Big Business need to realize that reform of the fast and lose deregulation of the past decades led to this economic catastrophe, just as earlier deregulation in the Carter and Reagan years led to the collapse of the FLSIC and the Savings and Loan debacle. It's time for change, and not just punditry, sound-bytes and sloganeering.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-21505000817764902522010-04-12T11:25:42.525-07:002010-04-12T11:25:42.525-07:00What did Mussoulini call fascism?
The merging of ...What did Mussoulini call fascism?<br /><br />The merging of government and the corporate state? And it's not government winning that war of wills.ntrwriterhttp://www.andjusticeforallblog.comnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-2415562019248377222010-04-11T16:51:18.208-07:002010-04-11T16:51:18.208-07:00Mr Cassano can have a drink with Michael Milken on...Mr Cassano can have a drink with Michael Milken on his way to his yacht. They might have a few funny stories to tell each other.gordonnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-64284890488240952192010-04-11T07:12:39.712-07:002010-04-11T07:12:39.712-07:00I still assert that the "UBS Swiss Banker&quo...I still assert that the "UBS Swiss Banker"<br />Bradley Birkenfeld, provided the US Goverment with the Golden Opportunity (think: Al Capone) to get these swine using the "back door", as in tax fraud prosecutions. He and his lawyer, Stephen Kohn (head of the National Whistleblowers Assn.)gave the Goverment the names of 4,400+ of these secret, big, Swiss Bank account holders. And, of course, Obama offers this sleaze Amnesty (as in: De Facto Pardons)!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-64883771266527015832010-04-11T05:39:28.387-07:002010-04-11T05:39:28.387-07:00Where are the Boondock Saints when you need them?Where are the Boondock Saints when you need them?Anonymousnoreply@blogger.com