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82% of Americans: Clamp Down on Wall Street • Financial Experts: Rein In Big Banks to Save Economy • Politicians: Keep Them Lobbying Dollars Coming!

George Washington's picture




 

82% of the American public wants tougher regulation of Wall Street.

Most top independent financial experts say that we need to break up the big banks and otherwise rein in the financial giants in order to save the economy.

But Summers, Geithner, Bernanke and Congress like things just the way they are.

Of course they do ... they're bought and paid for:

  • Lobbyists
    from the financial industry have paid hundreds of millions to Congress
    and the Obama administration. They have bought virtually all of the key
    congress members and senators on committees overseeing finances and
    banking. The Congress people who receive the most money from lobbyists
    are the most opposed to regulation. See this, this, this, this, this, this, and this.
  • Obama received more donations from Goldman Sachs and the rest of the financial industry than almost anyone else
  • Summers and the rest of Obama's economic team have made many millions - even in the first few months of being appointed, or right beforehand - from the financial industry

The chairman of the Department of Economics at George Mason University
(Donald J. Boudreaux) says that it is inaccurate to call politicians
prostitutes. Specifically, he says that they are more correct to call
them "pimps", since they are pimping out the American people to the
financial giants:

Real whores, after
all, personally supply the services their customers seek. Prostitutes
do not steal; their customers pay them voluntarily. And their customers
pay only with money belonging to these customers.

In contrast, members of Congress routinely truck and barter with other people's property...

Members
of Congress are less like whores than they are like pimps for persons
unwillingly conscripted to perform unpleasant services.

 

***

 

Politicians
force taxpayers to pony it up -- just as the services rendered for a
pimp's customers are rendered not by that pimp personally, but by the
ladies under his charge. The pimp pockets the bulk of each payment;
he's pleased with the transaction. His customer gets serviced well in
return; he's pleased with the transaction. The only loser is
the prostitute forced to share her precious assets with strangers whom
she doesn't particularly care for and who care nothing for her.

 

Also
like the ladies under pimps' power, taxpayers who resist being
exploited risk serious consequences to their persons and pocketbooks.
Uncle Sam doesn't treat kindly taxpayers who try to avoid the
obligations that he assigns to them. Government is a great deal more
powerful, and often nastier, than is the typical taxpayer. Practically
speaking, the taxpayer has little choice but to perform as government
demands.

So to call politicians "whores" is to unduly insult
women who either choose or who are forced into the profession of
prostitution. These women aggress against no one; like all other
respectable human beings, they do their best to get by as well as they
can without violating other people's rights.

 

The real villains
in the prostitution arena are those pimps who coerce women into
satisfying the lusts of strangers. Such pimps pocket most of the gains
earned by the toil and risks involuntarily imposed upon the prostitutes
they control. No one thinks this arrangement is fair or justified. No
one gives pimps the title of "Honorable." Decent people don't care what
pimps think or suppose that pimps have any special insights into what
is good or bad for the women under their command. Decent people don't
pretend that pimps act chiefly for the benefit of their prostitutes.
Decent people believe that pimps should be in prison.

 

Yet
Americans continue to imagine that the typical representative or
senator is an upstanding citizen, a human being worthy of being feted
and listened to as if he or she possesses some unusually high moral or
intellectual stature.

 

It's closer to the truth to see
politicians as pimps who force ordinary men and women to pony up
freedoms and assets for the benefit of clients we call
"special-interest groups."

 

 

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Fri, 03/12/2010 - 01:59 | 262921 Marley
Marley's picture

Proles and animals are free! :)

Fri, 03/12/2010 - 19:23 | 263812 Anonymous
Anonymous's picture

Some of us are freer than others, though. d=

Thu, 03/11/2010 - 23:14 | 262767 TruthHunter
TruthHunter's picture

There's a revolution coming. Unfortunately its going

to be more like Pol Pot than 1776.

Its time to practice your "King of Queens" act, move

into your worst rental, give all your suits to Goodwill, remove

those online resumes, and hope you can blend in with

the Proles!

Thu, 03/11/2010 - 23:07 | 262761 Anonymous
Anonymous's picture

82% of the Americans have no money and are afraid that they may lose their job or house at any moment. Bernanke prints money, gives it to the banks and the banks buy politicians to do what the banks want. It is ironic that the money of the American taxpayers is used against them.

Thu, 03/11/2010 - 23:05 | 262759 Anonymous
Anonymous's picture

Nothing will change until people flood the streets of NYC and DC and DEMAND IT.

The two parties are two sides of the same coin--and BOTH are captured and controlled by the Banking Cartel.

Thu, 03/11/2010 - 22:40 | 262719 Marley
Marley's picture

From Wikipedia, Jeffersonian Democracy;  In its core ideals it is characterized by the following elements, which the Jeffersonians expressed in their speeches and legislation:

  • The core political value of America is representative democray; citizens have a civic duty to aid the state and resist corruption, especially monarchism and aristocracy.
  • The yeoman farmer best exemplifies civic virtue and independence from corrupting city influences; government policy should be for his benefit. Financiers, bankers and industrialists make cities the cesspools of corruption, and should be avoided.
  • Americans had a duty to spread what Jefferson called the "Empire of Liberty" to the world, but should avoid "entangling alliances."
  • The national government is a dangerous necessity to be instituted for the common benefit, protection, and security of the people, nation or community; it should be watched closely and circumscribed in its powers. Most Anti-Federalista from 1787-88 joined the Jeffersonians.
  • The wall of separation between church and state is the best method to keep religion free from intervention by the federal government, government free of religious disputes, and religion free from corruption by government.
  • The federal government must not violate the rights of individuals. The Bill of Rights is a central theme.
  • The federal government must not violate the rights of the states. The Kentucky and Virginia Resolutions of 1798 (written secretly by Jefferson and James Madison) proclaim these principles.
  • Freedom of speech and the press is the best method to prevent the tyranny of the people by their own government. The Federalists' violation of this idea through the Alien and Sedition Acts of 1798 became a major issue.
  • A standing army and navy are dangerous to liberty and should be avoided; much better was to use economic coercion such as the embargo.
  • The United States Constitution was written in order to ensure the freedom of the people. A strict view of how the constitution was written is kept. However, "no society can make a perpetual constitution or even a perpetual law. The earth belongs always to the living generation."
Thu, 03/11/2010 - 22:20 | 262692 AR15AU
AR15AU's picture

Regulation is nothing.

Enforcement is everything.

Thu, 03/11/2010 - 21:23 | 262622 knukles
knukles's picture

Most of us investment managers and/or private investors, fulfilling distinct fiduciary duties to others or directly investing our own funds for our livlihood consider the present behavior of the Washington-Wall Street Complex akin to the demented, felonious excesses responsible for the historical demise of great societies and empires.  

Thu, 03/11/2010 - 20:57 | 262592 Ned Zeppelin
Ned Zeppelin's picture

Protests en masse in public arenas.  Join the unions in their upcoming protests the influence of the banks, even if you despise the unions.  At least we show up in numbers.

<Deaf ears.>

Thu, 03/11/2010 - 22:30 | 262705 AR15AU
AR15AU's picture

That's what the Tea Parties are for...  Union demands for special treatment are part of the problem.  Remember GM?

Fri, 03/12/2010 - 19:20 | 263809 Anonymous
Anonymous's picture

Special treatment implies that their expectations are unreasonable in some way.

Let's talk for a moment about contractual obligations. Suppose you and I sign a contract that I will give you $50, plus a donut on Friday if you paint my dingy cubicle. You agree, we sign, and you paint my 'office'. I pay you the $50 on the spot, but when Friday comes, there's no donut. Are you being unreasonable by being upset about this? Is it your fault that I can't deliver on my promises?

It sickens me to think of all the money collected over the last 40 years by CEOs of companies that neglected to put aside sufficient funds to cover their obligations to their workers. I'm not thrilled about the fact that as a taxpayer, I'm on the hook for making their obligations good, but I do recognize that there's a legitimate claim on the other side of the equation. I just wish they could take it out on the malefactors instead of me.

Thu, 03/11/2010 - 20:32 | 262570 BlackBeard
BlackBeard's picture

and THAT is the current state of representation in America.  Move along.

Thu, 03/11/2010 - 20:29 | 262564 Cistercian
Cistercian's picture

 Excellent as always.Odd the MSM is not in saturation coverage of of the ongoing rape of the republic.

 Our representatives, the 4th estate..they are owned.

 

 And it frankly pisses me off.

Thu, 03/11/2010 - 21:24 | 262623 knukles
knukles's picture

The MSM is sanctioned through licence, anti-trust or other legal sanctions of Washington and the power elite.

Thu, 03/11/2010 - 20:03 | 262543 Ripped Chunk
Ripped Chunk's picture

Falling on deaf ears.

Thu, 03/11/2010 - 19:42 | 262516 mynhair
mynhair's picture

Scru this.

Expel Louise Slaughter!

 

Institute a test of Constitutional knowledge for all elected Klowns.

Thu, 03/11/2010 - 19:40 | 262510 Rick64
Rick64's picture

After constant bombardment of hypocrisy from those that are representing us, it is easy to see how somebody could be pushed over the edge and maybe fly a plane into the IRS building,(taxes that are unconstitutional)and we are paying tax dollars for this circus.

Thu, 03/11/2010 - 21:49 | 262653 percolator
percolator's picture

Thomas Jefferson once said, "The tree of liberty must be refreshed from time to time, with the blood of patriots and tyrants. It is its natural manure."

I'll let readers guess who the patriot and who the tyrant was in the Joe Stack incident.

Fri, 03/12/2010 - 19:12 | 263800 Anonymous
Anonymous's picture

If he hadn't left a polemic detailing the tragic refusal of the IRS to accept his designation of his house as a church, we would probably be hearing a bunch of crap about the home-grown wing of Al Quaeda now. The man was a nutjob, plain and simple, and Jefferson had nothing to say about the necessity of adding the blood of imbeciles to the tree of liberty.

Thu, 03/11/2010 - 20:02 | 262542 Anonymous
Anonymous's picture

Seriously!! My European friends cannot believe Americans would take this sort of corruption laying down-
I am only shocked we havent seen more of it-

Thu, 03/11/2010 - 21:00 | 262594 Let them all fail
Let them all fail's picture

I wonder if the lack of organized protest could be partly due to the difficulty of organizing in one area given the size of this country, much different than any European country where you generally have on large main city, usually the capital.  Makes it easier here to fuck over people without rebellion, we would have to have coordinated protests in various cities in order to truly make this work...

Thu, 03/11/2010 - 21:38 | 262644 merehuman
merehuman's picture

We have our own seperate lives. Interaction as is found in tribal rituals (churches)is scarce.

Our sit-downs on the front porch are gone along with the front porches.We accumulate most of our news from the manuerfactured media and rarely discuss it with others. If not for shools and churches, where do we interact and share our views? The internet is still up and i am so surprised by that.

The east coast is better suited to revolt as the hands of power are there. Mayhap we all need to get to marching to the east coast.

I will talk it over with the old lady.

We aint helping ourselves by doing nothing.

Basically so far we have said

government we trust you, now we are saying we trusted you to our regret , but its still rolling over us.

 

Thu, 03/11/2010 - 21:15 | 262612 Anonymous
Anonymous's picture

Hoooray!!!

Someone finally using common sense to figger out that a country the size of the United States, cannot even organize a sock drawer, let alone a mass demonstration of our murderous contempt and delicious beheadings for The Tribe of geithner,orszag,bernanke,summers,paulson, greenspan,rubin,cassano, madoff, friedman,fuld, frank,thain,dodd,mozillo,o'neal,gensler,kashkari,blankfein,
rubin, clinton, bush, etc, ad nauseum.

CONGRATULATIONS!!! And thank you!

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