Some readers may have skipped the Classics. Some may just have memory problems associated with age. That I can identify with.
Ms. Cassandra’s beauty caught the eye of Apollo. He gave her the gift of knowing the future.
She spurned Mr. Apollo, so he cursed her. Her predictions were to be ignored. Obviously she is no more welcome here today than when she warned that the Trojan Horse was filled with armed men.
Have you been enjoying the economic meltdown? You will not need nostalgia to relive these exciting times when you have a few more rings around your trunk. There will be another.
Why am I upsetting you with my pessimism? Because nothing is being done to correct the structural faults that brought on the collapse. Because nothing is being proposed by our leaders to address the problems.
In March of last year the President met with the heads of the thirteen largest banks. He made them promises. Their banks would not be allowed to fail. He had their backs. One year forward, not a single one has lost his job. The promises were kept. (Under no circumstances are you to mention the promises made to you and me.)
The more you do of what you’ve done, the more you’ll have of what you’ve got.
Everything is just as it was. There are no new regulations. There are no new, or any, penalties. Whenever they want to put the world’s economies in the Dempster again, the stage is still set. Chris Dodd is putting together a reform bill but it is really a diversion. Since he’s preparing to leave the Senate, he’s not even bothering to make it appear effective. The more you do . . .
Dylan Ratigan was a star of the financial network CNBC until he realized what a farce Wall Street is. He was offered a show on MSNBC and now provides succinct explanations for the uninitiated as to what it all means. I am unable to embed that network’s videos here (until someone shows me how) but here is the link to a recent segment on what he calls the Great Con Job of the Fed.
Few (or none) would favorably compare my physiognomy with Cassandra’s. Apollo never saw the need to bestow upon me any special powers or talents. They are unnecessary. Predicting another global economic meltdown is within the ability of my 7-year old grandson.
Right now these plutocrats are occupied. They are dotting all of the eyes and crossing all of the teas in their imminent theft from the people of Greece. It appears that their intended itinerary is: Greece, Ireland, Italy, Spain, the UK, the US.
Recently, appearing before a Congressional committee, Alan Greenspan abandoned character and admitted that he was surprised that the market didn’t behave as Ayn Rand and the Chicago School of Economics had ordered. Now his ego has recovered.
Alan told Congress today not to blame him for our problems. It wasn’t his fault. After all, he bragged that he was right 70% of the time. Wow! That is impressive. Maybe not impressive enough for your pilot, or your physician, or your Toyota engineer. Perhaps 70% would not even get you into a decent college.
But, it seems that the former god of economics was proud that he was correct some of the time.
Greenspan’s successor has been busy defending the Federal Reserve. Bernanke and the 12 regional Fed chiefs are sending to Dodd’s committee what business correspondent Shahien Nasiripour characterized as a veiled threat. Actually, it is as scripted as a Japanese Noh play.
Now I must pull back a little. Chris Dodd has been difficult to get a bead on lately. Given the freedom not running for office would provide, he often mouths some good generalities. I’m guessing that he also is factoring in his potential as a lobbyist when he doesn’t leave the District. Sometimes he seems to be backsliding.
It’s probably not wise to put all of your marbles on either Chris Dodd just yet. One can hope that he will think of his old best friend, Teddy Kennedy, and try to leave a legacy. However, my skepticism pushes me to expect less than airtight rules and regulations for the banks.
.
{ 13 comments }
This blog seems to get a good ammount of visitors. How do you promote it? It offers a nice individual twist on things. I guess having something real or substantial to talk about is the most important thing.
I appreciate the compliment. I haven’t done anything special but the traffic seems to have started picking up lately. After 2 and a half years. it appears that time may be a factor.
I’d must verify with you here. Which isn’t one thing I usually do! I get pleasure from studying a post that can make individuals think. Also, thanks for permitting me to remark!
Thanks for the compliment but be careful, thinking can be dangerous.
An attention-grabbing discussion is value comment. I believe that you should write more on this topic, it won’t be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers
I have written extensively on this topic. I was under the impression that I needed to spend more time on other subjects, not because this subject isn’t important but to cover a wider range. This subject is definitely deserving of more and deeper coverage than is usually provided on most news shows.
Thanks for the comment. I probably need to cover much more of this AND other topics.
This actually answered my drawback, thank you!
More than happy to help, as I’m one of those that has all of the answers.
;-]
I’m often to running a blog and i actually admire your content. The article has actually peaks my interest. I’m going to bookmark your web site and keep checking for brand spanking new information.
Thanks, and spread the word. The more the merrier.
You gave great points here. I did some research on the subject and have found nearly all people agree with your blog.
Sent via Blackberry
You are corect, sir. There has not been one new regulation or change of any kind to prevent the practices that resulted in the economic crisis. Scary, ain’t it?
Scary? If this had been on paper you would have seen the spots left by my tears.
Comments on this entry are closed.