Monday, April 20, 2009

Bizness as Usual, No Change: Another Voice (Is Obama Listening?)

Those Cadillac-Driving Welfare Queens on Wall Street~surprise! still no accountability!
On C-span tonight, Janet Tavakoli, a very sharp, succinct financial expert, took on topics such as Tim Geithner ("part of the problem, not the solution"), "financial meth labs", incompetence at the SEC, "backdoor bailouts," and the global financial meltdown being created by the very people Obama now hopes (improbably) will "fix" it, "widespread fraud," a "bought Congress"not doing a damned thing about it, and, of course, still- unanswered questions why the mainstream media "isn't nailing them" all.
Present policies are "misguided... we're delaying fixing the problem by giving comfort to the financial system...unwarranted comfort."
"Instead of shutting them down (e.g. JPMorgan Chase), they just accelerated..."

"Hank Paulson was 'an interested man' who made decisions to the benefit of his former employer. This myth about Goldman Sachs being the best and the brightest is similar the AIG myth."

"The taxpayer is foooting the bill for a lot of malfeasance and Congress is not questioning wasn't an innocent mistake, it wasn't the 'Black Swan'..."we have a lot of 'interested men'" pulling strings to benefit themselves at taxpayer expense.

"Citigroup should have been put into receivership instead of getting $40 billion," and (still another) "non-transparent back-door bailout which propped up the price of Citi's stock."

"There is no magic bullet answer, but we need to get back to prudent finance...there are a lot of sound banks, but we have to go after the bad guys. We can't keep bailing out the bad banks...there's a lot of lying going on [regarding JP Morgan Chase's Jamie Dimon's assertions that toxic assets are somehow no longer toxic].

Click on the Flash video to watch:
What's scarier, and not at all unlikely, is more of the same in the new(er) proposal to put taxpayers at risk while encouraging privateers to buy up toxic assets ~ there is, apparently, NOT A THING preventing the same 'interested men' bidding on and driving up the price of their own stinking garbage, leaving taxpayers holding the bag--in other words, the same old shenanigans. See here: (tip o' the tinfoil hat to Anonymous Liberal):



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