Obama has appointed, without exception, people who helped cause the problem. Obama's associates, not to mention his "stimulus" package (more on that in a later article) are prime indication that he actually wants the economy to get much worse. Does anyone know why?
Robert Rubin contends that no one saw the economic crisis coming. He's probably lying, but even if he really is that dense, it proves that Rubin's not even fit to be dogcatcher for the smallest bank in Poughkeepsie. There are several individuals who
Just like before, those people who are honest, who have integrity, and who could really fix the problem that those in office don't seem to care much about, are left out in the cold.saw it coming, and some of them are from the financial sector. Ironically, (is it ironic when it's on purpose?) none of them belong to the Insider-Man American-Hater Club, so they were left out of Barack Obama's presidential entourage.
Timothy Geithner? Okay so he didn't pay a bunch of his taxes. That makes him a money-grubbing son of a monkey. But much worse, he was also president of the Federal Reserve Bank of New York during the Fed's money-creation orgy, which...well...makes him a money-grubbing son of a monkey. The Fed, which has been carefully cultivating a bumper crop of soon-to-be-experienced hyperinflation, is the main part of our problem. Most Democrats and Republicans are barely able to squeeze themselves around the outer edges of the room that that elephant is standing in. C'mon, President Obama, you can do much better than Timothy Geithner.
Lawrence Summers? Back in October when this issue was being
It's not, like Rush Limbaugh, that I want it to fail. It's simply that we are destined to fail when we fight against inexorable economic laws.discussed by the king-makers and slave-makers, here's what was said:
Robert Rubin, treasury secretary under President Clinton and now an adviser to Barack Obama, said it was important "to be highly, highly proactive."Sure, we have been aggressive. We have been highly proactive. And the economy continues further into the tank. It reminds me of the long-running joke about socialism--that it hasn't worked yet because it hasn't yet been tried by the right people. Lawrence Summers was a poor choice.
Lawrence Summers, also a Clinton treasury secretary, said, "Any time you have a problem with trust, you've got to deal with it in a very aggressive way."
You may not know that there are banks who have continued to turn a profit during the current crisis. Perhaps these people should be punished,
Nancy Pelositician ensured today that the "ship of state" is headed for the same rocky shoals toward which President Bush steered it. The only difference is that our clipper is now breezing along at full sail.because they didn't do certain things that were encouraged by the federal government, such as give loans to people who couldn't afford them, or things that manifested corporate greed, such as decorating their offices for millions of dollars and giving themselves obscene bonuses.
John Allison, of BB&T corporation, is looked at by some as a member of the new Sons of Liberty for having stood up against the folly of federal bailouts.
It was Allison who wrote a stinging letter to Congress on Sept. 23, arguing that the contemplated bailout would reward poorly managed banks at the expense of properly managed banks......like his. Allison explained another reason why bailouts won't work
"The primary beneficiaries of the proposed rescue are Goldman Sachs and Morgan Stanley ," Allison wrote. "The Treasury has a number of smart individuals, including Hank Paulson. However, Treasury is totally dominated by investment bankers. They do not have knowledge of the commercial banking industry."Dick Kovacevich of Wells Fargo has proven that honest bankers can turn a profit. People are fleeing the troubled banks and putting their money in a bank they can trust--Wells Fargo.
[Wells Fargo's] success is largely due to Kovacevich who served as CEO from 1998 to 2007, and didn't bow to pressure even though rivals such as Countrywide and Washington Mutual were growing their mortgage operations faster than Wells Fargo earlier in the decade.Following the passing by the House of Representatives of the latest stimulus boondoggle fad package (I think it was H.R. 1, called "The American Collapse and Socialization Act"), Speaker of the House Nancy Pelosi had this to say:
My colleagues, the ship of state is difficult to turn but that is what we must do.You're right, Ms. Consummate Politician. However, what you did today was ensure that the "ship of state" is headed for the same rocky shoals toward which President Bush steered it. The only difference is that our clipper is now breezing along at full sail. It's not, like Rush Limbaugh, that I want it to fail. It's simply that we are destined to fail when we fight against inexorable economic laws.
The more things change, the more they seem to be the same old same old.
Just like before, those people who are honest, who have integrity, and who could really fix the problem that those in office don't seem to care much about, are left out in the cold.