Thursday, April 8, 2010

Meanwhile, Back at the Banks...

While the politicians and media are all wrapped up with their traditional silliness ranging from the obsession the media has with Tiger Woods (just another pathetic excuse for a human who cheated on his wife) to Jon Kyl's promise to filibuster the non-existent Supreme Court nominee, the banks and Wall Street have been happily continuing to rig the system and prvent an actual investigation of just what happened.

Before I get there, I have to comment on the 2 distractions above. The media obsession with this sad excuse for a man, this adultering pig is simply nauseating. And the delicacy with which it is handled is baffling. The same media that will call folks racists and fascists without a flinch seem unable to call Woods what he is. An adulterer. Plain and simple. He cheated on his wife. Why this is somehow the lead story everywhere is bad enough, but the fact that the cowardly media (all sides) prefers terms like 'womanizer,' 'philanderer,' and the ever ludicrous 'sex addict,' to the more accurate adulterer eludes me. Call things what they are and stop the excuse factory. I will happily say it - Tiger Woods is a disgusting pig that cheated on his wife repeatedly. A serial adulterer. All this clown is addicted to is the adulation of his fans.

As to Kyl's promise of a filibuster, this is perhaps the final proof that the Senate is now officially pointless. There is no vacancy on the court and no nominee to discuss. So why would Kyl make such a stupid and empty threat? Because he has no interest in governing and lots of interest in pulling in campaign cash. Democrats should not be happy or feel somehow vindicated. Democrats invented the concept of skewering Supreme Court nominees with Bork and Thomas. All Kyl is doing is elevating the art of silliness that seems to pervade the Congress these days. Threatening to stop a nomination that has yet to be made for a vacancy that has yet to exist? Excellent job Senator! You have managed to turn nothing into something just to avoid the simple fact that this Congress is a failed body and a corrupt one. Kudos to to the man with the giant pile of poop.

And while these distractions dominate, the folks on Wall Street and at the big banks continue to lie and threaten. Earlier this week, Wall Street's new fair haired wonder boy, Jamie Dimon (who was gifted Bear Stearns and Washington Mutual) stated that any new regulation might cause credit to become unavailable. In case Dimon has not noticed, credit is still hard to get and getting more difficult. What Dimon meant was that regulation would hamper his ability to continue to lie to shareholders and the public.

What he really meant was that he and his cohorts had invested a lot in corrupting and baffling the existing regulators and they did not want to have to actually follow the rules. If they followed the rules, why the fear of a consumer protection agency for financial institutions. As we all know, the law abiding need not fear the police.

And today, the liars from Citi stepped up and apologized for what happened there, while claiming to not know about it. Well, Mr. Prnice and Mr. Rubin, how could you not know there were tens of billions of dollars in risky assets on the books? Because someone said so? Aren't you supposed to know this stuff? Aren't you supposed to have independent auditors look at it? Or are you simply lying some more to avoid admitting that you made a walloping huge paycheck out of trashing an entire economy.

What Prince and Rubin really mean is "We knew, but we were making a lot of money and really didn't care all that much about anything else." What they are really saying is "We are so sorry we got caught."

And therein lies the real problem. Nobody has been caught. No investigation. No forensic examination of who did what. As long as people like Ken Lewis, John Thain, Lloyd Blankfein, Alan Schwartz and Bill Fuld are able to simply lie and not get called out, the system will continue to fail the investors and depositors. These guys lied endlessly. And boldly. And, apparently, without penalty.

As long as Geithner and Bernanke are running the regulatory scheme, there is no regulation. These are the same 2 that let it run wild in the first place. The same guys that were in on every Sunday decision. Every decision to send my money to the crooks on Wall Street to cover their bad bets. Somehow and for some inexplicable reason, Obama left these 2 in charge after they proved their incompetence.

And still no real investigation. No independent look at what, how, where and why. We already know who. Geithner and Bernanke fear an actual independent investigation. They know that it will inevitably point out their failure. The bankers fear an investigation. They know it will inevitably point out their lies.

And the administration and Congress? They just hope it will go away. They fear the bankers. They don't fear us, though. And come November, we need to remember that they work for us and fire them. All of them.

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