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Congress Pimps Out the American People
Blog
We've known for over a year that real financial
reform wouldn't
happen.
We knew that the proposed bill wouldn't
do much.
We knew Congress was just pimping
out the American people, and partying at our expense.
But it
is still disgusting to see Congressman Barney Frank, Senator Chris Dodd
and the rest selling
out the American dream.
Shahien Nasiripour writes:
After nearly 20 hours over two final days filled with backroom
dealing, House and Senate negotiators struck a grand compromise to
merge the two chambers’ competing bills to reform the nation’s
financial system in a party-line vote. But the long hours of closed-door
meetings also appear to have fulfilled Wall Street’s greatest wish: Many of the measures that offered the
greatest chances to fundamentally reshape how the Street conducts
business have been struck out, weakened, or rendered irrelevant.
Bloomberg notes:
Legislation
to overhaul financial regulation [won't] fundamentally reshape Wall
Street’s biggest banks or prevent another crisis, analysts said.
The
bottom line is that nothing has really changed ... the government is
continuing to strengthen
the parasite and poison the real economy.
Congress is still continuing to pimp out the American people to
Johns who have insatiable
lusts.
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As usual, every G20 representative is trying to propose the best way to save his /her personal wealth without the slightest loss . Thus, the financial world as a whole is bound to collapse . As those politicians are totally unable to grow their vegetables and produce their own food, they will not survive when the financial system collapses.
The financial industry is inherently oligarchic. Since they are entirely dependent upon beneficial government regulations for their bottom lines they must seek influence. They will always hover near the powerful, and those green pieces of paper will always eventually work their magic.
To expect a country to remain free when the financial industry expands beyond its only healthy role, servicing the real economy, to become an economic mainstay is naive. As long as finance is as big a part of the US economy as it's become we will be owned by them. No amount of regulation will break those chains.
If you want to be set free, get other industries like manufacturing back in the US and push the banks and Wall Street back to their lowly service role again. Their power to enslave is directly proportional to their importance to the GDP. And as long as we're a service economy, they'll run the place. They're the big dog of the service world.
No.
Consider that:
"The twin pillars of capitalism are capital AND labor." (Churchill)
Sorry, but I am correct. The financial industry used to be all about providing capital, back when they were much smaller. Now they are primarily self-serving; providing financial "products" based on fiction, to boost their own earnings.
How much of Wall Street's and the big banks business is currently IPO's, loans to business or commercial bond underwriting? How much is derivatives, CDOs, in-house stock buying/selling, etc? Little of their profits these days come from providing capital to businesses; most of their money seems to come from exotic synthetic derivatives and the like -- bets on top of the bets on the movement of other people's money.
I am only advocating that they get back to basics. Get healthy again. Get useful again. Become assets to society again.
Just look at the arthritis, the weak hands of Barney Frank and Chris Dodd.
Frank has lost weight like he has AIDS or cancer (Barney Frank, get a new suit that fits man!).
These people are on their last gasps. Put them outta their misery. This banking "reform" bill will be about as potent an your last bong hit. Wait for it...............just wait for the failure of this leglislation..
Relax.
.....and wait for the nonsense to subside,.........and then........since you've retained some capital.........you'll be able to move on and be prosperous.
Hey Barney, if you're smart enough to be reading this, email me and
I'll tell you what to do.
How about some news on some folks who are doing the right things?
Or would that be a dog bites man story -- no news? I think not.
I'm willing to read it if you can provide a link. Good luck. It's a bit of an epidemic in our political ranks. They all suck. Donkeys and elephants alike...
And for 98 percent of the population, they don't know or don't care.............Apathy is the root of all evil things....
With 2% generally aware all we need is 3% more and that would be it... An exponential growth curve in action.
They want your children to work.
Really, though...the status quo they defend IS our economy. There is nothing else.
When the ponzi finance FIRE racket ends, so do we. I mean, gone in 60 seconds. It would take a decade to onshore our production base even if you could battle through the idiot NIMBYs who love and demand electricity but despise and forbid power plants.
Playing at pimps & prostitutes only makes all those who play prostitutes...
The picture made throw up....These criminals must be removed from office.
And redressed as the Beastie's while being put to work at a real job ... I suppose collecting all of the condoms left at parking garage stairwells and city park restrooms would be a start for these low budget examples.
http://www.youtube.com/watch?v=e9bS1dE0ps8
I wouldn't go back now for any amount of money (or anything else) - Miles Kendig o-_-xo
All we have is a two party system of; Carpetbagers and Scallywags. They have to know what this will lead too..... as even with a nation of zombees there is their limits
Partial From Casey.........
Notably, in much the same way the hastily assembled and ill-advised Patriot Act launched the behemoth Homeland Security, the financial reform bill creates a massive new consumer protection agency with an annual budget of $850,000,000. Laughably, this new agency will be operated by the Fed, and its mandate will be “Protecting America’s Consumers.”
But wait, isn’t that the job of the…
The existing agency, it must be pointed out, runs a budget of over $250 million. Then there’s the billion dollars or so being spent on the SEC, and the $150 million spent on the CFTC… and the list goes on. Oh, boy, does it go on.
http://money.cnn.com/2010/06/25/news/economy/whats_in_the_reform_bill/
The Fed, OCC and others did a great job preventing Fleet from going on its rapacious lending tear in the south in the early to mid 1990s. The Fleet lending scam taught us that as long as housing prices appreciated, the regulators didn't care if you made loans to people who you knew could not repay. So what if you took their house, and knew you would at the outset, what's a little reputational risk.
Just think, had our regulators come down hard on Fleet, I doubt Mozilo would have been able to say the 95% of his about his option arm borrowers would not be able to repay their loans.
So, it seems clear to me that a consumer protection agency is necessary to maintain systemic soundness. Too bad the CPA is in the Fed.
The picture says it all... all we need is Lennon to write the caption! lol
How about this: "Next time I'll show you how to do a wusty twombone"
Shall I Welease Wodewick again!
They,the banksters are umilliating a lot of people.They fucked the Greek people and no they did not deserve this.
No people deserve this also not the Portugeese they have on their radar.Not even the French people deserve this bs.
Not the African nations deserve this ,no last but not least not even (no joke) the Amercan people deserve this.
O I almost forget ,certainly not them hard working Chinese people deserve this.I demand a honest money system,
a system were hard work is rewarded and money keep its value!!A system were small business can florish.Were real
production counts.I am not American,but I fully suport your constitution.Debt free money.No wold goverment,we
all want our own uniek identity as coutries .Totally independent individuals with liberties and protected by law,not
abused by a non productif ,parisitical and corrupt ........................................................................................
I could go on for hours but I really must harvest from my garden now I am hungry.
Green shoots everywhere,summertime girls and sunshine.
Judging from the photo above, looks to me like Dodd just gave Bwaney a BJ. Sad to see it is the American taxpayer who will be the ones taking it up the as..
George W. I wanted to comment on your
previous post but could not find it. What
do you mean the U.S. dosen't have death
squads? Everyone who speaks out against
government or has damning evidence ends
up dying. Look at the Clinton's or D.C. Madam
This is what happens when half the population lives on hand-outs while the other half works their collective asses off. It's just too bad that some of the working half are too stupid/ignorant and buy into the line of BS that is now leading us (the US) into bankruptcy.
Nah, the ones living on handouts are just 1%, as in the top percentile. Those who also live on money given to them for no actual service rendered, as in unemployment benefits, don't get handouts, they get breadcrumbs. And those who still have work, and I mean productive work, will find it even harder when "the beast is starved" and worker protections are rolled back. Just as that video "Meltup" from the people at inflation.us: "The chinese are better educated because they don't have an unemployment insurance to rely on", and when that mentality, pure bred of the worst "let them eat cake" royalism, finishes making its grip in the US, you all will be productive again: sweatshop productive that is.
Recht gesagt.
It's the way money and politics have ALWAYS been. People just won't give up the fantasy that it can be any other way. Man is just one of those species that preys on its own.
Banks "Dodged a Bullet" as US Congress Dilutes Trading Rules... (a Bloomberg headline)
Unfortunately the bullet slammed right into the body of the American people.
ZeroHedge has become hard for me. I still skim, and read, but I can't put as much in; it hurts too much and fills me with negative emotions. I am committed to doing what I can and preparing myself as best I can mentally, physically, and spiritually.
Thanks for keeping up the fight GW.
Do not be disheartened. The pain will pass. It has always been this way, and will always be this way. Eat, drink and be merry! This world must have the positive and the negative people working in disharmony with each other. Something like a spinning helix. It is the natural way of things. It is in our DNA. Oh, and I hope those fuckers get it good and hard very soon!
CC:
don't give up. take some time, do what you need to do to recover.
the dark side will do whatever it can to weaken you. that is their strategy, chaos and confusion writ large.
recognize who and what they are, and how they do what they do.
these are the info wars. never forget what is at stake. all of their power is illegitimate and stolen; it is, in fact ours, and when we truly understand that, and act upon it, together, they will be seen to be nothing more than venal, shoddy tricksters whose only virtue was a mesmerizing sleight of hand.
their power is ours. we need only take it back.................
Awesome, very true - part of the battle is in our minds really.
deleted by poster
Is armed revolution the only way to get meaningful reform from Congress any longer? I mean, seriously, has it come to this?
They will parade now all over television LYING through their teeth about how they "fixed" the system when they themselves were the ones GUTTING every provision that would have set the clock back to when banks weren't casino gamblers using other people's money.
And the scumbags in Taxachusetts WILL reelect the asshole on the left.
Further Proof, Non-Circumstantial Evidence, that there Exists a New Versailles and a New Peasantry.
If ever there were two more crooked men than Barney and Chris. Working together to destroy everything in their path. Another sad day in America.
The Military is doing the same thing. Join the Party. The american people are pretty dumb. Open bar in Israel!
Actually, I kinda take offense to that. I travel the world pretty extensively and have for some time. I can tell you that the rest of the world is full of fucktards also (including the 'chosen ones' Chinese). Granted, I think we can do better and should hold ourselves to a higher standard. But (!), to be honest, I find ourselves to be relatively well educated and astute. Which is more of a condemnation of the rest of the world than a praise of our ourselves. Nevertheless, we aren't as dumb as you might think.
Alcohol,
Au Contraire'!!!!!!!!!!!!!!!............the Military's budget is fixing to get a huge haircut.
See to believe.
On the books or the off the books financing? Military spending to infinity either way.
Grab big, Mr. Fwank!
Barney and Chris giddy after raping the taxpayers...again. Barney to Dodd: "Hey Lollipop, thank goodness there is no law against raping taxpayers."
Second Take..... Where's Dodd's Other Hand?
he's telling dodd: i told lloyd he didn't have to swallow, but he insisted.
Dodd,
Is doing ALL the damge he can befores he RETIRES to this 20yr old Child Bride.
Between Fwank,Dodd, and Cinton.....they basically destroyed the real estate market.
BTW, the dud-e in charge their, when he was forced out, never was required to give BACK his 50+Million BONUS...wonder why?.
For the record, Frank was a total loon and eediot on CNBC today. This guy is either clueless, dumb, bribed, or all the above.