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Dylan Ratigan Discusses The Great Financial Con Job With Alan Grayson And Bill Fleckenstein

Tyler Durden's picture




 

Dylan Ratigan, joined by the inimitable Alan Grayson and Bill Fleckenstein, does one of the best comprehensive summations of the where we are, how we got here, and why those responsible for the upcoming US default are still doing exactly what they were doing, through the enabling of the Federal Reserve. The logical question arises: when will someone finally do something about the situation the US is in right now? At this point pretty much everyone understands how the con works (and if you don't, watch this clip). Why do we allow a handful of corrupt politicians and a select few of Fed members unaccountable to anyone, coupled with a small group of Wall Street CEO, to determine the fate of this nation, and how long will democracy be trampled by those very people who claim to represent nothing but the people's interests? Watch this clip.

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Wed, 04/07/2010 - 17:39 | 290651 non-anon
non-anon's picture

Greenspan does not look so well. Not like the bygone days when he was the superstar of the world!

Wed, 04/07/2010 - 17:43 | 290658 equity_momo
equity_momo's picture

He's still got ample supply of virgin's blood to consume , he'll be fine for at least another 2 bubbles.

Wed, 04/07/2010 - 17:51 | 290676 Never_Put_Down
Never_Put_Down's picture

Greenspan is due to shed his skin and rejuvenate at anytime now

Wed, 04/07/2010 - 18:13 | 290704 non-anon
non-anon's picture

No, don't tell me he is a reptilian! Ha! Ha! Ha!

 

http://www.youtube.com/watch?v=tq1SgXIKI3U

Wed, 04/07/2010 - 22:43 | 291007 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

"Did someone say virgin's blood?" Al Gore was damn tired after flying in one of his many jets across the European continent for the third time in as many days.  Ken Lay pivoted in the golden colored lazy boy seat that was personally designed for him. "I heard Bill was having a party in the Caymans.  They should have some virgin's hearts there.  You know Billy C loves his virgin hearts!"  "Quite right, Kenny boy, Bill loves them hearts."  He had a chuckle, as Gore also loved eating the ripe muscle of teenage girls.  "Man Bear Pig!  Man Bear Pig!"  Yelled Dan Qualye from the back.  "Remember that show, heeheehee.  Man Bear Pig."  "Shut up Dan, how do you spell potato again.  Did I catch an "e" in there.  Haha."  "Good one." Said Ken, as he leaned back in the chair and put his gelly-eye sun-blocker on.  "Oh yeah, that's original."  Said Dan with a frown.  "So was YOURS."  "That's enough!"  Quipped CondaLeeza from the front.  "I have had just enough from you two.  Everyday, bicker, bicker, bicker.  If you do not stop by the time we land, I am telling Bill neither of you can have heart."  "Ooooh."  They replied in unison.  "We're sorry."

Wed, 04/07/2010 - 19:50 | 290818 erik
erik's picture

I did it.  I closed my Chase accounts.  I will be moving to a local credit union tomorrow.  It feels really good to actually do something that can make a difference eventually.  I encourage all of you to do the same if you disagree with the bank bailouts and obscene banker bonuses.

http://moveyourmoney.ning.com/

 

Wed, 04/07/2010 - 20:33 | 290864 CookieMonster
CookieMonster's picture

I got a friend to do the same last week! But also need to look at credit cards - boycott them! Gas cards, tire store cards, regular credit cards, etc - they are all sources of money for the squid!!! Usury is evil.......

Wed, 04/07/2010 - 20:42 | 290881 goldfreak
goldfreak's picture

Am paying cash for everything, except for when buying something on line. I also moved my mother's account out of chase and into a small bank

Wed, 04/07/2010 - 22:05 | 290994 non-anon
non-anon's picture

Man, this is encouraging seeing ZH'rs taking concrete actions that make a difference. Spread the word, Starve the Beast!

Wed, 04/07/2010 - 22:21 | 291016 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

May I add, boycott COKE and PEPSI.  Starve the beast, and be healthy doing it! 

Thu, 04/08/2010 - 00:46 | 291167 CookieMonster
CookieMonster's picture

Yes, there is another area in which the squid would like to grasp onto with its tentacles - the food supply. Things like large company farming tied to debt and banks and driving out small farmers. Buy locally grown food and dairy products.....

Thu, 04/08/2010 - 00:58 | 291175 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

C is for cookie!  That is good enough for me!

Thu, 04/08/2010 - 01:14 | 291191 Gold...Bitches
Gold...Bitches's picture

C is for cookie!  That is good enough for me!

Now that is classic

Thu, 04/08/2010 - 01:39 | 291199 CookieMonster
CookieMonster's picture

Hard to live on cookies. Tried it and it makes the digestion get weird. Now I eat veggies (yeah, right!).....

Wed, 04/07/2010 - 22:01 | 290986 Lux Fiat
Lux Fiat's picture

Great first step.  Now go out on Meetup.com or do some local digging and look at the myriad number of groups that are actively working to get the message out.  Many are not affiliated with either the dems or repubs.  Find one that fits you, join, and make some time to put words into action.

Start paying attention to the primary elections.  If you don't like who's on the ballot in Nov., the primaries are a chance to steer it your way.

 

Thu, 04/08/2010 - 00:53 | 291171 CookieMonster
CookieMonster's picture

Just a comment. Many ZH'ers are used to a free-for-all style of communicating. Some of the people in these other groups are, let's call it, "well behaved". Just a warning if you want to venture into something else.

Politics is something like a necessary evil. Our answer may not come from politics, it has to come from inside each of us and our collective decision making about everyday things. If there is first an economic movement, then that will make politicians take notice - Starve the Beast, not just the NY Banks but also the Beast in the political parties.

Thu, 04/08/2010 - 01:00 | 291177 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Yes, and besides, we have rules.....

8 Rules:

http://www.youtube.com/watch?v=agi8PUmlAKU

Thu, 04/08/2010 - 01:37 | 291197 Lux Fiat
Lux Fiat's picture

Are you referring to the 5th rule - one fight at a time?  Multiple fronts energize me, particularly when they are related.  Thinking about something that is important to me and that I am passionate about is great, but ultimately it takes action to attempt to make a constructive difference.

Thu, 04/08/2010 - 19:57 | 292347 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The first rule....and the second.  What are we supposed to do in politics.  Fight?  Well...........maybe we should.

Thu, 04/08/2010 - 02:31 | 291212 Lux Fiat
Lux Fiat's picture

I guess I could have been more considerate in how I responded.  Perhaps I should have phrased it as "These past 2-3 years have been one hell of a wake up call for me.  I felt a strong need to get engaged in some way, shape or form, and here is how I went about it.  This may not be for everyone, but it works for me." 

I certainly have my opinions, and will put foot in mouth on occassion expressing them, but to pick up on a post by CD, I have also gotten a sense of fatalism from some of the posts over the past few months, and was trying to, in an encouraging way, highlight one out of many paths that folks can take to become more engaged (assuming that they want to be "engaged").  I hope it was not taken as bashing the "starve the big banks/beast" idea, as that was not intented.

To quote from CD's post - "So with apologies to Tyler and Marla if I'm breaking the house rules and in the spirit of the season of spring renewal, I’d like to ask the ZH community what we think each of us might do to move the ball forward. Short of moving into an underground bunker with a stash of dehydrated food and emergency supplies of Playboy magazine (or Playgirl for our female contingent) if or when the breakdown comes, we'll still be living in our community and thus we'll need to make do with what's in place at that time. What can we do on a local, regional or national level that will improve our lot in life as a community and as a nation, now or later? How can we organize without leaders? As far as I’m concerned, anything goes and no comment should be shouted down as silly because quite frankly, we really have no idea how this will play out."  My post was intended in this spirt, as I believe was yours.

Thu, 04/08/2010 - 02:37 | 291213 Lux Fiat
Lux Fiat's picture

Removed duplicate post.

Thu, 04/08/2010 - 00:45 | 291164 Otrader
Otrader's picture

I think I will do the same. These types of reports on how we empower the TBTF banks is absolutely disgusting!

To the credit union we shall go!!!

Thu, 04/08/2010 - 04:05 | 291229 Seer
Seer's picture

I'm happy to state that I've been banking at CUs for most of my banking life.  Also have NEVER held a single credit card!  But, there's always more to do... Ditch drinking life-shortening sodas (I stopped years ago) and bottled water.

Anyway, hats off to all those taking concrete steps!

Wed, 04/07/2010 - 21:09 | 290921 sgt_doom
sgt_doom's picture

That's 'cause he's been living the high life with all those big bucks he earned from John Paulson's hedge fund membership....you know, when they bet on the subprime meltdown.

Geez.....who could have ever seen that coming????

Thu, 04/08/2010 - 00:44 | 291160 TraderMark
TraderMark's picture

GReenspan line of defense changed today from "low rates had nothing to do with it" to...

"Congress made me do it"

http://www.reuters.com/article/idUSWAT01427220100407

Oh and he mentions the Fed is really not independent....

On a related note American Idol results were tonight and 42% of Americans could care less what greenspan said.  Another 48% said "Greenspan who?" when queried. 9% were seen pulling their hair, while the other 1% said "Can we get NFL season moved up - I see a hole in our distraction schedule this summer"

Thu, 04/08/2010 - 00:57 | 291174 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

+

Wed, 04/07/2010 - 17:44 | 290661 anony
anony's picture

Garyson is all for the Health careless bill!  He's as bad or worse as those he criticizes.

Damned hypocrite.

Wed, 04/07/2010 - 17:49 | 290671 Graphite
Graphite's picture

Yeah, he's actually filing a complaint against a Florida doctor for putting up a sign asking those who voted for Obama to seek care elsewhere. As good as he is on financial reform, overall he appears to be just a typical Congressional scumbag.

Wed, 04/07/2010 - 18:27 | 290730 Augustus
Augustus's picture

Filing that complaint is just the first tip off.  Why should a doctor have to provide services to people he does not want to take as clients?  When the doctor shortage hits, will the retired docs have to come back and work until they die?  Seems that Grayson could support that too.  Grayson is all for taking over everything, then ration care and spending so that patients are mandated to die to keep the expenses within the budget.  He's one of the lowest of the low lifes in Washington.

Wed, 04/07/2010 - 23:56 | 291114 pan-the-ist
pan-the-ist's picture

Here is a different point of view.  There won't be any shortage of doctors.  Today, to seek any health care, you are forced into an expensive office visit with a doctor.  Soon we will have community health centers for the poor where you an RN will draw your blood and send it to a lab for analysis and you won't have to spend a fortune to see an asshole who will only talk to you for 5 of the 15 minutes you paid for...

Have you ever heard of doctors who talk patients into unnecessary surgeries for the extra bucks? Rather than clean up the back with some less expensive scoping (order of magnitude difference in price) they fuse the vertebrates? Rather than putting in the band they  do a gastric bypass?

There are countless examples if this abuse.   Some doctors are worse than auto-mechanics.

Thu, 04/08/2010 - 00:25 | 291138 SRV - ES339
SRV - ES339's picture

"Why should a doctor have to provide services to people he does not want to take as clients?"

 

The Hippocratic Oath (Modern Version)

  I swear to fulfill, to the best of my ability and judgment, this covenant:

I will respect the hard-won scientific gains of those physicians in whose steps I walk, and gladly share such knowledge as is mine with those who are to follow.

I will apply, for the benefit of the sick, all measures [that] are required, avoiding those twin traps of over-treatment and therapeutic nihilism.

I will remember that there is art to medicine as well as science, and that warmth, sympathy, and understanding may outweigh the surgeon's knife or the chemist's drug.

I will not be ashamed to say "I know not," nor will I fail to call in my colleagues when the skills of another are needed for a patient's recovery.

I will respect the privacy of my patients, for their problems are not disclosed to me that the world may know. Most especially must I tread with care in matters of life and death. If it is given me to save a life, all thanks. But it may also be within my power to take a life; this awesome responsibility must be faced with great humbleness and awareness of my own frailty. Above all, I must not play at God.

I will remember that I do not treat a fever chart, a cancerous growth, but a sick human being, whose illness may affect the person's family and economic stability. My responsibility includes these related problems, if I am to care adequately for the sick.

I will prevent disease whenever I can, for prevention is preferable to cure.

I will remember that I remain a member of society, with special obligations to all my fellow human beings (unless of course they participate in the election of a black, liberal President), those sound of mind and body as well as the infirm.

If I do not violate this oath, may I enjoy life and art, respected while I live and remembered with affection thereafter. May I always act so as to preserve the finest traditions of my calling and may I long experience the joy of healing those who seek my help.

 

 

Perhaps this explains why I passionately hope all three of you would simply go away... as far as your pathetic minds can take you.

 

Please Note:

I've added 13 words to the text of the Hippocratic Oath... the first (of the three posters above) to identify all 13 words gets an all expense paid, one way trip to the (distant) destination of his or her choice (winner must provide proof of active participation in the "human race" to claim prize).

Thu, 04/08/2010 - 06:48 | 291276 Ned Zeppelin
Ned Zeppelin's picture

Gee the rascist part looks added.

 

Thu, 04/08/2010 - 01:41 | 291200 CookieMonster
CookieMonster's picture

Yes! This is what I meant by our answers not coming from politicians but from ourselves individually, then collectively!!!

Wed, 04/07/2010 - 17:50 | 290672 Never_Put_Down
Never_Put_Down's picture

Grayson's a big government Democrat no doubt, but he did co-sign HR1207 with RP - that at least makes him better than most

Wed, 04/07/2010 - 17:55 | 290681 Alienated Serf
Alienated Serf's picture

Look, he may be some big gov "Dem" (like there is a difference) but lets just appreciate any light that is shed on the fedCONomy.  Lets take what we can get right now.

Wed, 04/07/2010 - 19:50 | 290820 G. Marx
G. Marx's picture

 

Yeah, same for Mussolini, after all he got the trains to run on time, so he couldn't be all bad.

Wed, 04/07/2010 - 21:15 | 290929 Alienated Serf
Alienated Serf's picture

i am not quite the fascist, but i do believe in logic.  if mussolini says the sky is blue, does that mean the sky is not blue b/c the statement came from such vermin?

Wed, 04/07/2010 - 21:41 | 290960 G. Marx
G. Marx's picture

Non Sequitur that misses the point, the argument being put forth is, Grayson should be given a pass on all his other transgressions because he's right about this one and/or supports Ron Paul on auditing the FED, I disagree with that logic. For we immediately see the problem that arrises when placing someone as the face of an issue, who then has so many problems on other issues. These other problems become a (legitimate) distraction and can tinge the legitimacy of the issue at hand.

Have we seen this before? Sure and many times in US political history. Right now (free market) capitalism is being discredited because supposed capitalist like Greenspan and Sen. Phil Gramm supported measures which helped to bring about the financial disaster of '08. So instead of focusing on the overwhelming acts of the government which were by far and away the main contributors to the collapse, one instead has to defend the paradigm of capitalism.

There are so many others who saw what was coming and weren't tainted by actions that wouldn't cause the issue to be sidetracked. Why not put them forth?

One last thing, that's a bit of a side track from my point, but relevant overall nonetheless. Grayson's party has played a significant role as well, especially after they came to majority status in the House and Senate. After all, its his party's leadership which has pushed the various stimulus and bailout bills, is inclined to give the FED greater regulatory and oversight powers and played a role in the committees to shield and protect Fannie and Freddie (and still do). Yet for all his disapproval over what has been done, he's still a loyal member. You might claim this is just pragmatic politics, but for me it means that he puts the control of power for his party, above principle.

Thu, 04/08/2010 - 00:05 | 291121 pan-the-ist
pan-the-ist's picture

Guess what Non-Sequitur boy - there are no perfect politicians. 

In reality, we have to take what we can get and hope for the best.

Your libertarian utopia will never happen.

Time to grow up Peter Pan. (That's an ad hominem.)

Non-Sequiturs add to the discussion just fine. You argue like a bitch.

Wed, 04/07/2010 - 20:09 | 290836 Cognitive Dissonance
Cognitive Dissonance's picture

I don't get this shit. People complain that the mainstream media ignores the Ponzi. Then, when someone in the mainstream media talks about the Ponzi, repeatedly calling it the big con and regardless how poorly he may have stated the case (considering he summarized it in 2 minutes, he did an excellent job) you fucking guys are complaining?

What the fuck?

I CALL BULLSHIT!

Wed, 04/07/2010 - 20:16 | 290844 poor fella
poor fella's picture

++   o_O

Wed, 04/07/2010 - 20:32 | 290862 Hulk
Hulk's picture

I CALL BULLSHIT!

+1 trillion zillion. For first time, Hulk understand

what Cognitive Dissonance say!!!

(me bad. both a compliment and a zinger in one sentence...)

Wed, 04/07/2010 - 20:35 | 290868 Alienated Serf
Alienated Serf's picture

Amen CD!!! i am no fan of MSNBC, but if they tell the truth once, I can admit it.  And if anyone thinks the msm is the enemy (99% of the time it is), this is one time you can use the enemies weight against it. 

Wed, 04/07/2010 - 20:54 | 290898 Frank Owen
Frank Owen's picture

Oh CD, don't you see the army of people fighting against the banksters on the news all the time? You just can't flip the channel without coming across one politician or another going on about things that are obviously wrong. There are far too many interested in justice, so we can afford to cherry pick the best of the best. ;)

Wed, 04/07/2010 - 21:10 | 290922 john_connor
john_connor's picture

No doubt.  Ratigan's explanation, while very simplistic, is perfect for the majority of people. 

Wed, 04/07/2010 - 21:49 | 290970 Tethys
Tethys's picture

Gotta agree with you here - the MSM is by-in-large a steaming pile, but you do have to acknowledge the few rays that get through.  Ratigan reminds me of a sane Glenn Beck (who also sometimes calls it like it is wrt these same issues).

In my view Grayson is playing it smart.  It is easy to support auditing the fed when you know there is virtually no chance it will ever happen. So he gets to appear populist with very little downside.  And if (more likely when) the shit does jump off, and the politicians throw the bankers under the bus, he will be smelling like a rose.  In a more cynical view, one might consider that this is why MSNBC throws Ratigan a loose leash - reports like this lay the groundwork for the upcoming prisoner's dilemma between politicians and banksters, in this case in favor of the politicians.

 

Thu, 04/08/2010 - 00:40 | 291157 The Merchant of...
The Merchant of Venice's picture

Ratigan is Secular Beck.  It's a better position to be in.

However, did you hear him take Grayson to task for putting his name on legislation that gave away the farm to insurance companies?

 

Grayson is part of the problem.  He votes for the Farm Cartel, against the Bank Cartel, and now for the Insurance Cartel.  These so called friendly cartels are few hundred thousand bodies ahead of the killing spree the Juarez Cartel and Sinaloa Cartel are presently engaged in.

Thu, 04/08/2010 - 03:44 | 291223 Tethys
Tethys's picture

Ratigan did go after Grayson - but it seems to me that there are two reasons that media ask tough questions these days.  They either (a) want to find the truth, or (b) want to give the person they are asking a chance to defend themselves.  My rule for telling the difference if whether they press the issue if they get a non-answer.

People can judge for themselves which Ratigan was doing.  Grayson definitely gave non-answers each time he was asked about the gov't in my opinion (if you listen closely).  And there is a subtle but important difference in framing the issue as 'lobbyists gave $$$' and 'congressmen accepted $$$'.  So my suspicion remains.  In times like these, I really can't see the message controllers letting anything important slip through.

 

Thu, 04/08/2010 - 11:48 | 291587 BoeingSpaceliner797
BoeingSpaceliner797's picture

+++

Thu, 04/08/2010 - 15:42 | 291977 SRV - ES339
SRV - ES339's picture

Probably a bit late for a reply but... pllllleeeeease, do you really think Grayson (or anyone else for that matter) wanted "that bill," as passed? Of course not!

It is a first step compromise pure and simple... it was the "Party of NO" that forced the "giveaway" elements of the bill in order to (finally) pass a Health Care Reform bill after 50 years of being blocked by the "bought and paid for" GOP. There is no turning back now, and the bill will evolve to favour the public... until you and your friends retain control and begin chipping away at the progress, based on direction from the insurance lobby. Fortunately, "claw back" platforms are rarely successful!

 

Let me guess... "The Merchant of... Hypocrisy!"

Fri, 04/09/2010 - 01:15 | 292682 Tethys
Tethys's picture

"bought and paid for" GOP

Just my perspective, but I would say you are half way there on this stage of your journey of awareness.  Let's talk again when you realize both parties are bought and paid for.  I'm guessing that might also be a good time to discuss how this bill has evolved to favor the public.

 

Thu, 04/08/2010 - 11:52 | 291593 BoeingSpaceliner797
BoeingSpaceliner797's picture

+++

 Grayson is a politician and I do mean that in the most derogatory way possible, while acknowledging that I am happy for any support for HR 1207.  However, if you watch Grayson and study all his votes, it is hard to ignore that he is a politician, a fact of which I am reminded roughly every month when I ignore the email I get for campaign contributions. 

Wed, 04/07/2010 - 21:55 | 290976 boooyaaaah
boooyaaaah's picture

Greenspan said " we had no idea what fannie & freddy were oing until 2009"

Now F & F were pushing subpimes

Isn't that the reason

Does the fed have to know about every socialist enclave in the federal government --- does the fed have any authority to regulate F & F ----- these issues exonerate Allan --- so lay off this poor old man

And will we ever have a law that the fed, F & F , and for that matter the entire government should not be allowed to be --- to big to fail

 

Thu, 04/08/2010 - 00:44 | 291161 The Merchant of...
The Merchant of Venice's picture

Actually that is horseshit.  Of course Allan knows about F&F.  He certainly knew about derivatives in order to argue against their regulation to spike Brooksley Born at the CFTC.

 

One of the primary responsibilities of the Fed Chairman is to identify mercenaries creeping in on their turf.  If they can only help the Fed they remain silent.  If they can hurt the Fed they're getting attacked.

Wed, 04/07/2010 - 21:55 | 290977 boooyaaaah
boooyaaaah's picture

Greenspan said " we had no idea what fannie & freddy were oing until 2009"

Now F & F were pushing subpimes

Isn't that the reason

Does the fed have to know about every socialist enclave in the federal government --- does the fed have any authority to regulate F & F ----- these issues exonerate Allan --- so lay off this poor old man

And will we ever have a law that the fed, F & F , and for that matter the entire government should not be allowed to be --- to big to fail

 

Wed, 04/07/2010 - 23:38 | 291082 swamp
swamp's picture

Bullshit? Complain? WTF are you talking about?

This is part, not all of the story. The rest of the story is that people willingly shopped for houses to buy out of their own greed, houses sthey could NEVER afford but for wild ass speculation. Many lied to their bankers, many refinanced and sucked out money for the car they now drive and now they CRY that they are losing their homes and want PRUDENT people like me to pay for them.

 

 

Thu, 04/08/2010 - 00:33 | 291147 SRV - ES339
SRV - ES339's picture

"WTF are you talking about?"

 

Took the words right out of my mouth swamp... in reply to your comments!

Thu, 04/08/2010 - 11:39 | 291570 BoeingSpaceliner797
BoeingSpaceliner797's picture

Many +++

Right on, Swamp.  My wife and I just said no in 2007 to buying a home (despite being preapproved) out of fiscal discipline.  As our reward, not only do we get to help pay for the homes of people who exercised less discipline while we continue to rent, we also remain priced out of the market with the effective blockade by both the banks and government of genuine price discovery in residential real estate.  But, hey, we're good Americans; if it's for the good of the country, we'll suck it up.

 

Apologies for the personal anecdote.  I hope I am summarizing your thoughts with the following:  our problems rest on a three-legged stool:  corporate fraud, statist government and consumers.

Thu, 04/08/2010 - 13:16 | 291714 Rick64
Rick64's picture

CD

Finally some passion coming out. Couple that with your insight and eloquence and you will be a force to be reckoned with. By no means is this critisism.

Thu, 04/08/2010 - 04:08 | 291233 Seer
Seer's picture

No, not at all.  He pushed a bill for an opt-in to medicare.  "Opt," as in OPTIONAL, not forced, not forced like the other side of the ditch pushed (look how the current sick-care bill pushed up the stock of the big fat cats).

No f*cking wonder this country's all f*cked up.  People are so f*cking stupid!

Wed, 04/07/2010 - 17:45 | 290662 Market Man
Market Man's picture

Well.... all I can say is if you watch MSNBC and belive this stuff from Ratigan... then.... maybe I can sell you a bridge???  :)

Wed, 04/07/2010 - 17:54 | 290680 Assetman
Assetman's picture

How about it you could loan me a bridge?  I really don't have the upfront cash to pull off a full purchase.

You've gotta give me credit for something...

Wed, 04/07/2010 - 18:19 | 290715 ZerOhead
ZerOhead's picture

Forget about up-front cash... just get a shitload the cheap back-door stuff at the Fed's discount window like the TBTF's.

Oh wait... that's just a conspiracy story for the gullible!

Wed, 04/07/2010 - 18:20 | 290716 JohnG
JohnG's picture

What's the ask on a default swap, I want in on this deal.

Wed, 04/07/2010 - 18:30 | 290735 ZerOhead
ZerOhead's picture

Get your 'Bridge Financing' in order and take a number Johnny...

Looks like you're #3!

Wed, 04/07/2010 - 21:39 | 290962 Hulk
Hulk's picture

Nope. Still paying for the last bridge I bought

and its........underwater.....

Thu, 04/08/2010 - 04:10 | 291235 Seer
Seer's picture

I don't own or watch TV, but... as is my bent, I concentrate on facts and logic.  Where exactly is Ratigan incorrect in his assessment of what happened?

I'd even support any position taken by Limbaugh that was true (though I'm getting old and don't have a lot of time to wait for this to actually occur).

Wed, 04/07/2010 - 17:46 | 290665 GS is short Gold
GS is short Gold's picture

God I love Dylan Ratigan. We need this guy hosting the NBC nightly news and they should give him 5 minutes a night to speak his mind.

Wed, 04/07/2010 - 18:18 | 290713 Popo
Popo's picture

But he stops short of the most obvious issue:   The issue is not just fixing the system, it is CLAWING BACK profits from INDIVIDUALS.

Wed, 04/07/2010 - 18:54 | 290760 scipio_africanus
scipio_africanus's picture

Ratigan may have some things right, but he is mostly an uneducated fool in my book. Alan Grayson, is simply a raving loon who is dangerous. If both men dropped off the earth the earth would be a much better place.

 

Neither one of these idiots have an impact on my portfolio or provide any fundamental information that you couldn't find her 6 months ago.

 

We are obviously all fools. Some of us complicit, some of us less compmlicit. But we have all taken part of in this "irrational exhuburance" and been raped by the Fed, The US Treasury and Democrats and Republicans, just like the Plebes in Rome were raped.

 

This whole story is so tired in world history. Puts your seatbelts on, ignore blathering idiots like Ratigan and Grayson. They are frankly more dangerous than anything else. Keep your eye on the prize, which may end up being a loaf of bread in the next 2-10 fiscal quarters.

 

 

Wed, 04/07/2010 - 20:04 | 290832 SWRichmond
SWRichmond's picture

You're right, no one is good enough, nothing will work, we may as well just trust no one, keep our heads down, and pray that the storm passes us by, allow the power structure to keep us divided and powerless.

Or, we could use this story as an example of the kind of reporting we need more of.  Support the message, not necessarily the delivery vehicle.

THIS IS AN IMPORTANT STORY AND WE NEED TO SEE MORE LIKE IT.  WHERE IS THE REST OF THE PRESS AND CONGRESS ON THIS IMPORTANT ISSUE?

See how easy it is?

Wed, 04/07/2010 - 21:25 | 290940 velobabe
velobabe's picture

hey swr made the move bought some beautiful gold coins this afternoon. excited about my new collection. thanks, did the eagle, indian head and panda. fell in love with the panda and the bamboo, but have been told don't get distracted. art or bank right†

Thu, 04/08/2010 - 08:01 | 291294 SWRichmond
SWRichmond's picture

awesome, gratzs!

Next: concealed carry permit.

Wed, 04/07/2010 - 20:25 | 290853 GS is short Gold
GS is short Gold's picture

Let's speak in relative terms. Is there anyone else in the mainstream media pointing out half the injustices Ratigan is? Compare him to Cramer and Kudlow, not to Tyler D.

Thu, 04/08/2010 - 00:49 | 291169 The Merchant of...
The Merchant of Venice's picture

Ratigan is on MSNBC. Kudlow and Cramer are on CNBC.  Ratigan's polemics were too big for CNBC to broadcast.

Most of the media has a stake in the outcome.  I'm all out of ideas to bring them to our side.  I say fuck em.

 

If they want to cover history they can join us.  If they want to cover history and protect their fiefdom then off with their heads.

Wed, 04/07/2010 - 20:36 | 290869 I am a Man I am...
I am a Man I am Forty's picture

Ratigan has been bird dogging this issue from the beginning and is one of the few that understands WTF is going on.

Wed, 04/07/2010 - 20:40 | 290875 Cognitive Dissonance
Cognitive Dissonance's picture

Unfucking believable.

You want the steak well done and then you send it back because it's too well done. You complain you're too tired and ask for the steak to be cut into pieces and then you send it back when the pieces are too small. You claim to have a tooth ache and you want the steak to be pre-chewed and then you complain the steak has no taste because it was pre-chewed.

What the fuck is wrong with you. You want every toy and then you complain because you don't like the toys. You're a moron and the ultimate tool of your own stupidity.

Wed, 04/07/2010 - 21:08 | 290919 Howard_Beale
Howard_Beale's picture

You wrote that while I was ranting CD. I feel calmer already without Miles to talk me down. Thank you. :)

Wed, 04/07/2010 - 21:20 | 290933 Alienated Serf
Alienated Serf's picture

CD, there are certain people who will not be satisfied no matter what.  If whatever diety they believe descended from the heavens and told them exactly what they wanted to hear, that would not be good enough for them. Some minds apparently can not be opened. 

 

Wed, 04/07/2010 - 21:44 | 290967 Hulk
Hulk's picture

Either Cognitive Dissonance's account has been compromised or we have been a very bad influence on the old fellow and he has cracked!

Once again I find myself completely understanding what he is saying and on the first read too!

Thu, 04/08/2010 - 06:22 | 291263 Cognitive Dissonance
Cognitive Dissonance's picture

The account has not been compromised and who the hell is this "we" you speak of. Based upon the several thousand comments left under my posts and articles over the past 9 months, you are one of the few who don't understand what I'm saying.

Let..........me.........speak...........slower............for..........you. :>)

Thu, 04/08/2010 - 09:58 | 291437 Hulk
Hulk's picture

I........a.......ppre....ci.......ate........it.....

Keep up the good work, nice take down. +1 point....

Fri, 04/09/2010 - 11:57 | 293298 scipio_africanus
scipio_africanus's picture

Here is your wonderboy, "unfcknbelievable" eh? This guy is a raving loon. I got plenty more of this and Ratigan acting like idiots. I think you screen name is appropriate btw:

 

http://www.youtube.com/watch?v=5Px5hJmFLqA&feature=player_embedded

Wed, 04/07/2010 - 21:04 | 290912 Howard_Beale
Howard_Beale's picture

In an attempt not to be rude, you need to get that frontal lobotomy reversed ASAP.

Ratigan is not an uneducated fool and I am grateful there is a camera and microphone for him to speak to those uniformed of the crisis we are in. Grayson supports auditing the Fed. He laughed in Bernanke's face--fucking brilliant. He gets great kudos from me for sheer gumption. I'm with CD--this is bullshit from you whiners.

There are many of us here that never got caught up in any irrational exhubarance and are not fools. My money has been growing without being long anything years and years. Being short is safer if you actually know how to trade. Why would anyone but Leo have a portfolio?  

There is nothing "dangerous" about these men--you should be grateful they exist. If both men dropped off the earth the earth would be a much worse place. Oh, but I forgot, this is a tired story in world history. Horseshit. This is important information because guess what, smarty pants, Part Deux is on it's way. You can take that to the bank if you have anything left when you realize it.

Miles, I need calming down again--where are you?

Wed, 04/07/2010 - 21:28 | 290944 velobabe
velobabe's picture

thanks howard you keep them honest. got to have one in the main arena. ratigan rocks it is all relative. BUDDHA on tonight people PBS. 2500 years ago, come on.

Wed, 04/07/2010 - 21:42 | 290966 Frank Owen
Frank Owen's picture

I heard somewhere that Ayn Rand was a big follower of his teachings... te-he

Wed, 04/07/2010 - 22:03 | 290988 Crab Cake
Crab Cake's picture

I really really want to watch it.

Punch him in the face for me.

Thu, 04/08/2010 - 00:42 | 291156 SRV - ES339
SRV - ES339's picture

Relax HB... we've got your back... Dylan and Grayson are simply two of the best, with mainstream exposure.

This guy's just not worth the stress!

Thu, 04/08/2010 - 11:37 | 291562 impending doom
impending doom's picture

Alan Grayson is a blowhard, but dangerous? Now, Andrew Jackson, that guy was fucking dangerous.

Thu, 04/08/2010 - 04:12 | 291236 Seer
Seer's picture

Oh, thanks for your insightful critique, NOT!

Wed, 04/07/2010 - 17:47 | 290666 Never_Put_Down
Never_Put_Down's picture

Nice work Dylan...it shows that not all at MSNBC are shills for the Fed and big Government

Wed, 04/07/2010 - 17:58 | 290685 Alienated Serf
Alienated Serf's picture

I'm surprised Immelt hasn't hired Blackwater, oh whoops, Xe to take him out!

Wed, 04/07/2010 - 17:48 | 290669 Ragnarok
Ragnarok's picture

Just because we can both see the con does not make me friends with Ratigan or Grayson.  Both are tools IMHO.

Wed, 04/07/2010 - 17:50 | 290675 ZackAttack
ZackAttack's picture

Grayson is kind of a nutjob. In a certain limited domain, though, he may be *our* nutjob.

Wed, 04/07/2010 - 22:08 | 290997 FEDbuster
FEDbuster's picture

I am not a big fan of either, but once and a while they both have their moments in the Sun.  Grayson's grilling of Bernanke was great, and Dylan is nibbling aroung the edges of a very important story.  Glenn Beck does the same thing, but is unwilling to take a real bite out of the FED.

Thu, 04/08/2010 - 04:15 | 291238 Seer
Seer's picture

Glen Beck?

Listen, there's a difference between people actively seeking to fix something and those who just look to incite violence.  Year ago, when all was bubbly for the corprorate world Beck was probably looking to blow Greenspan.

Good for Radigan to have on Fleckenstein.

Thu, 04/08/2010 - 09:44 | 291398 scipio_africanus
scipio_africanus's picture

Totally agree. Ratigan and Grayson are both nuts. I find it shocking people on here are stupid enought to think they are bright. Oh well, I have respect for TD, but there are apparently a lot of fools who post here. I can provide video of lunatic melt-downs from both of these men on national TV in the last several weeks. Glen Beck has done more to open people's eyes to what is happenning to them than either of these two asshats.

Thu, 04/08/2010 - 09:48 | 291409 FEDbuster
FEDbuster's picture

Wrong, if you have watched his shows attacking the FED and Goldman Sachs, you would know.  Plus, he has not called for violence, in fact he begs people to not act on their anger.  I don't "worship" Beck like some folks do, but he has made a difference in waking up America to the bankster fraud and purchase of our government.

Thu, 04/08/2010 - 16:12 | 292032 SRV - ES339
SRV - ES339's picture

No disrespect meant, but the two of you need help! Beck is a certifiable loon, getting mega rich playing on the fears and prejudice of the far right... there "Shining Star," for now... he'll "burn out" within a year... Dylan Ratigan and Congressman Grayson will be around as long as they care to be.

http://politicalhumor.about.com/b/2010/03/19/jon-stewarts-epic-glenn-beck-parody.htm

(follow link... in blue)

Thu, 04/08/2010 - 17:37 | 292149 FEDbuster
FEDbuster's picture

Just watch and don't blindly follow the libtard line:

http://www.youtube.com/watch?v=ERBmoV_WQU8

http://www.youtube.com/watch?v=C7Xu3xUkpEE

Watch and enjoy, as good or better than Ratigan.  Look for Glenn on the cover of Forbes Magazine this week.

Fri, 04/09/2010 - 01:00 | 292664 SRV - ES339
SRV - ES339's picture

Are you sitting down my friend... Beck (who makes over $30M a year telling you what you want to hear, and fanning the flames of hate and bigotry, admitted he was about "entertainment" not real news, in the Forbes Magazine piece (translated... as long as those Yahoo's watch it, and I get my millions, I'll give them what ever the hell they want). Enjoy the "show!"

Fri, 04/09/2010 - 12:02 | 293311 scipio_africanus
scipio_africanus's picture

Grayson is a fucking loon. If you think this guy has leadership qualities you are a fucking loon too!

 

http://www.youtube.com/watch?v=5Px5hJmFLqA&feature=player_embedded

Wed, 04/07/2010 - 17:50 | 290674 JW n FL
JW n FL's picture

The "Lobby!"

Per the Congressman!

http://www.opensecrets.org/

See how your interests will be watered down or not thru the amount of Lobby Dollar for or against your interest(s).

 

Wed, 04/07/2010 - 17:57 | 290684 steve3828
steve3828's picture

Way too much conspiracy theory flying around in this video.  It's simpler than that...the people running the Fed actually think they are doing the right thing by implementing Keyesian policies.  The irony is that Greenspan/Bernanke actually think artificially low rates are good. Dylan makes it sounds like they are plotting in the back room to help bankers.  It's just ignorance, ala Keynesian/Monetarist econ.  We just need more Austrian economics influencing policy. 

Wed, 04/07/2010 - 18:02 | 290690 Assetman
Assetman's picture

The irony is that Greenspan/Bernanke actually think artificially low rates are good.

Good for whom?

Wed, 04/07/2010 - 18:45 | 290746 steve3828
steve3828's picture

Main street, or so they think.  Then politicians who support the Fed's loose policy act enraged that the asset/commodities markets go up while unemployment stays high.  What did they think would happen??? 

Next phase will be windfall taxes and restrictions on "speculators".  I could write the script now for Maxine Waters et al in the Congressional hearing that's sure to follow.

Thu, 04/08/2010 - 04:19 | 291240 Seer
Seer's picture

Main street, or so they think.

Not a f*cking chance!  They serve their masters, the banking cartel (the Rothschilds etc.).

And no, they're only enraged because the masses are starting to take up pitchforks.  If everyone started to lay down and die they wouldn't flinch.  F*cking power's like that, and that's what drive all of this.

Next phase will be the collapse of crony casino capitalism.  Good by big business!  Good by military-industrial-congressional complex!  Life is going to be so much better...

Thu, 04/08/2010 - 09:05 | 291344 pan-the-ist
pan-the-ist's picture

I'm not so sure, casino capitalism might be on it's death bed, but the army will show up to your door to make sure you feed the military-industrial complex.  That may be all there is left to the economy in a few years, cops, soldiers, tax collectors, and the industry that supports them.

Thu, 04/08/2010 - 10:02 | 291446 FEDbuster
FEDbuster's picture

That is why I agree with Marc Faber when he says this most likely ends in WW3. 

You are right about a military/police state, they have been setting this up for years.  Eighty percent of all cops are ex-military.  The IRS is growing exponentially, and just armed themselves with sawed off shotguns.  They will be the "enforcers" for the banksters.

Wed, 04/07/2010 - 18:02 | 290692 equity_momo
equity_momo's picture

Steve , im glad you get it and realise the system needs to be reset and an Austrian style savings economy replace the current credit ponzi , however , you are far too naieve to believe the Fed puppets arent working for their banking masters.

Plenty of fountains of knowledge out there that shed all sorts of light on this matter. Bernanke and Greenspan are anything but simple misguided patriots.

Thu, 04/08/2010 - 04:21 | 291241 Seer
Seer's picture

Austrian style savings economy

Saving what?  Fiat money?  To invest in what?  A non-sustainable infrastructure?  Sorry, but that's merely putting a bandaid on decapitated body.

Thanks for playing!

Wed, 04/07/2010 - 18:04 | 290697 Alienated Serf
Alienated Serf's picture

Yeah I agree, the banks continually put their own people in the Fed in a misguided Keynsian attempt to stimulate the economy so we can all buy kittens and tricycles.  They just want us all to be happy.  A chicken in every pot.

 

Wed, 04/07/2010 - 18:14 | 290707 Stevm30
Stevm30's picture

Yes.

Wed, 04/07/2010 - 18:14 | 290708 fuggetaboutit
fuggetaboutit's picture

not sure thats right altho also not sure the answer is giant conspiracy but

1998 asia blows up, print money - huge equity bubble

2001 equity bubble blows up, print money - huge property AND credit bubble

2008 property and credit bubbles simultaneously burst - print money again?

There is a pathology here, when the same thing happens basically the exact same way twice, the notion that the solution is the same thing again is categorically insane -- that is why conspiracy theories gain credibility, because if there isnt one then the answer is just that the US populace and the people it has selected (directly and indirectly) to run economic policy are off the charts amazingly stupid

to be optimistic on risk assets is to root for abject stupidity because no matter what recovery scenario people want to delude themselves with, the reality is over the last decade doing exactly what we are doing right now has completely gutted the US economy in rolling stages while a tiny fraction of the population got shamefully wealthy doing the gutting

does that mean the guys who benefited through the course of that process directly influenced the guys making it happen? i have no idea, but who cares - point is this recovery is all noise and nonsense -- coming out of a kitten of a recession in 2002 the economy grew 8% in Q3 '03 with ZERO stimulus -- this time around, with $13 trillion of stimulus and asset guarantees and everything else AND coming off the largest shot down in the economy in 100 years, it grows less than 6% off the bottom?

but hey when the economy grew 8% in 2003 and unemployment was 4% and we had a national surplus and gas was $1.50 and emerging markets were growing north of 10% across the board the S&P was 1150 and its 1180 now so what do i know

Wed, 04/07/2010 - 19:11 | 290778 JW n FL
JW n FL's picture

I enjoyed the read...

 

But the answer to controling the amount of influence that Corporate America (maybe outsiders as well) has inside the beltway? Dollars to and thru "K" Street and / or other Avenue / Road / By Pass...

 

The monies... tax payer monies used to lobby against tax payer beneifts... all out in plain sight.

 

http://www.opensecrets.org/

 

I have to add that we are constrained by and energy crunch as well... not just Bankers ripping off the General Public..

http://www.youtube.com/watch?v=wYuLjGQQ-jg&feature=PlayList&p=C1B06538A32767DF&playnext_from=PL&index=132

Thu, 04/08/2010 - 04:25 | 291242 Seer
Seer's picture

I have to add that we are constrained by and energy crunch as well

Yes, add nearly ALL resources into this mix, as being a constraint, and then ask yourselves how growth is going to occur, Fed or no Fed, "Austrian economics" or no "Austrian economics."  It's all pissing in the wind...

Wed, 04/07/2010 - 18:22 | 290726 Market Man
Market Man's picture

Steve... EXACTLY...  conspiracy theory people are assuming WAY too much fiscal intelligence in the government and the Fed.    Their only real skill, if you call it that, is convincing voters to vote for them...  as I've said before, "America deserves the government they have."

Wed, 04/07/2010 - 18:33 | 290739 Alienated Serf
Alienated Serf's picture

When you say consiracy theory people, do you mean the Ratigan video or some of the kooks out there?   

Wed, 04/07/2010 - 19:10 | 290779 Market Man
Market Man's picture

Ratigan states the financial crisis was a "con"... intentional... he's way wrong... way more like incompetence to me.    The problem is that people on TV cannot openly state the voters are STUPID and elected a bunch of IDIOTS to run the country.  What kind of ratings would you have then????

Wed, 04/07/2010 - 19:44 | 290816 Alienated Serf
Alienated Serf's picture

I see where you are coming from, but I think he is calling it "con" instead of telling the viewers they are morons who don't get it.  and yes, i've watched enough bernanke hearing to know that most of congress doesn't get it either.  but what i think he is trying to say that no one is even trying to explain to the sheeple.  come on, obama or one of his minions is capable of explaining the same as ratigan, but they don't.  anyone can research this stuff on their own, but they don't.  so i guess ratigan sees the lack of explanation to the sheeple as the con, not some massive conspiracy.

Wed, 04/07/2010 - 18:45 | 290742 steve3828
steve3828's picture

Agree, they just aren't that smart

Thu, 04/08/2010 - 00:36 | 291149 FEDbuster
FEDbuster's picture

The FED is owned and controlled by the banks (Grayson mentions this).  So why do you think a Central Bank which is controlled by the largest banks would bail out the largest banks?  I will give you a couple of minutes to ponder that question......

Ding, ding, ding, times up.  Have you any clue yet?

THE PEOPLE RUNNING THE FED ARE THE BANKSTERS.  They bailed themselves out by "printing" a couple of trillion dollars.

http://www.youtube.com/watch?v=7GSXbgfKFWg&playnext_from=TL&videos=RxKFW...

Thu, 04/08/2010 - 04:30 | 291244 Seer
Seer's picture

Thank you!  It's not rocket science.  All the talking-head crap is just a way to obfuscate for the rich; unfortunately those trying to do battle with these rich masters cannot come out and call things so blatently (stuff like Radigan here is about as close to it as one can get without fear of being hauled off and fitted with concrete shoes).  It goes back to the time before the US was even established- the battle against the big wealthy european bankers, who, due to their tentacles have managed to foment war and mangled policies time and time again to stay on top.  Yes, it IS a CON job.  The CON is that people believe that they have to have masters/rulers/leaders!

Thu, 04/08/2010 - 01:04 | 291180 The Merchant of...
The Merchant of Venice's picture

Umm, they sort of, kind of, are plotting in the back room to help bankers except the bank room is the Senate Banking Committee and the Senate Finance Committee.

Some banks remain regional banks, but the largest banks are now operators in all 12 regions.  Ergo, they now hold voting shares in the makeup of each Fed branch.  Local banks are powerless to stop any appointments.  All they can do is barter to collectively nominate a director that must meet the approval of the large US banks.

Wed, 04/07/2010 - 18:02 | 290691 truth miner
truth miner's picture

Grayson thinks the financial meltdown is over.... boy is he gonna be surprised.

Hat tip to Dylan Rattigan on a great rundown of the how the corrupt system works.  I'm actually surprised this aired on MSM...

Wed, 04/07/2010 - 18:03 | 290694 Frank Owen
Frank Owen's picture

Hara kiri? No way, they have no concept of honor, only greed.

Wed, 04/07/2010 - 18:04 | 290695 jschurchin
jschurchin's picture

Thanks Tyler. Very good clip.

Wed, 04/07/2010 - 18:13 | 290703 Stevm30
Stevm30's picture

Ratigan and Grayson's solution would lead to more problems not less.  Demonizing the bankers does not address the root of the problem.  It was the politicians who bailed them out that are the root of the problem.  They are the ones who have forced us through taxation, to contribute to the banks.  Now they want to demonize the very people who benefited from their largesse??!  

Wed, 04/07/2010 - 19:16 | 290789 Market Man
Market Man's picture

You have to agree that the politicians are really crafty...  :)   With Ratigan's help they are demonizing the banks, deflecting attention from their incompetent selves.... and of course, no one will tell the voters that they are IDIOTS for electing these incompetent politicians!   Remember, half the people are below average, and they vote!

Wed, 04/07/2010 - 20:03 | 290830 Bananamerican
Bananamerican's picture

buncha crap....

that's like saying don't blame the burglar, blame the incompetent cop.

Fuck them BOTH!

Thu, 04/08/2010 - 00:51 | 291170 SRV - ES339
SRV - ES339's picture

Stevm (and MM)... you really need to "peel the onion" a little more.

Wed, 04/07/2010 - 18:15 | 290705 mynhair
mynhair's picture

Grayson is a sociopath moron.  Soon to be gone.

Tertiary syphillis comes to mind....

Wed, 04/07/2010 - 18:22 | 290724 Dirtt
Dirtt's picture

No matter how "right" he is on the Banksters I couldn't agree more.

Wed, 04/07/2010 - 18:29 | 290733 Augustus
Augustus's picture

Double +++

Wed, 04/07/2010 - 18:14 | 290706 lawton
lawton's picture

I cant stand Grayson on most things but he is right about the bankers con game.

Wed, 04/07/2010 - 18:16 | 290709 Augustus
Augustus's picture

If Ratigan had only been born sooner he would have been a Pravda all star.  Next he will find that a close friend of Greenspan owned a quary that profited from the sale of granite counter tops.  That is the real reason that Greenspan did not personally investigate all of those home loans that Frankie Raines and Jim Johnson were personally approving to keep the Congresman  TuTu pleased with himself. 

MER and LEH pulled off such a great scam that they went broke with it.  What better evidence could be found that they really really planned it that way?  It's going to be a whole lot better when those folks who have been guarding the Social Security Lock Box can start approving school loans too.  

Wed, 04/07/2010 - 18:31 | 290736 bulldung
bulldung's picture

The names of the banks changed , but did any bankers actually go broke. I haven't read any stories about destitute MER or LEH executives. There is no apparent accountability yet for the thieves in banks or Govt.The scam continues .

Wed, 04/07/2010 - 20:28 | 290858 GS is short Gold
GS is short Gold's picture

+1. Who went broke except for the shareholders? It certainly wasn't Dick Fuld or John Thain.

Wed, 04/07/2010 - 18:16 | 290710 Hero Protagonist
Hero Protagonist's picture

The checks and balances have been removed.  It's binary now, it works until it doesn't and then it's reset.  It can go on until the people of of any country outside the US realize that their quality of life is worse than ours simply because we can print money.  At that point game over.  That could take a loooong time.

Wed, 04/07/2010 - 18:20 | 290717 Dirtt
Dirtt's picture

Political Revolution.  THAT'S IT!

As pathetic as this looks at least we have an election in November.  They will continue to rob us blind until then. Of course the only way to stop them any sooner would be an armed revolution. Election recalls and impeachments would legally would run the clock into November.

SO we are phucked until November. The people who may ultimately pay the price could be the children of the true perpetrators.  If I were the kids and grandkids of Paulson, Bernanke and Dimon et al then I'd be getting the hell out of Dodge sooner rather than later.

La Guillotine shall claim her bloody prize.

Wed, 04/07/2010 - 18:20 | 290719 Augustus
Augustus's picture

You've got to really pause when Ratigan says that GM's problems were not the cars, it was the financing unit.  Sure, that is why the market share went from 50% to 30% while they had to carry the burden of the retirement and healthcare benefits and the highest cost labor in the world.  It was that financing unit that was using cheap debt that put them under.  You would wonder if the Chrissy Tingle Leg disease is contaigous.

Wed, 04/07/2010 - 18:21 | 290720 spekulatn
spekulatn's picture

Fleck....good

dylan....so,so

ag....fraud

Wed, 04/07/2010 - 18:21 | 290722 DirtySouth
DirtySouth's picture

Never trust the state, especially state owned media.

Wed, 04/07/2010 - 18:41 | 290745 Alienated Serf
Alienated Serf's picture

or is it the media owned state?

Wed, 04/07/2010 - 18:32 | 290737 Comrade de Chaos
Comrade de Chaos's picture

Finally, the notion of the national default is moving out from the outrageous impossibility into the inevitable reality mental frame. Still, will the state of denial pass anytime soon? (fat chance!)

Marco - polo, Marco - polo, Marco - bend over, polo & f. default.

Wed, 04/07/2010 - 18:35 | 290740 ThomasPaine
ThomasPaine's picture

and this is the real problem, not once did dylan mention the inept politicians that have taken bribes (contributions) and passed laws to allow what has happened.  it goes far beyond wall street.  the fault lies directly with those in dc.  both parties be damned....  

 

Wed, 04/07/2010 - 18:39 | 290744 dan10400
dan10400's picture

I like Ratigan, but he needs better guests than Grayson.   The harakiri comment was just plain "foot in mouth" stupid.  

Wed, 04/07/2010 - 20:57 | 290903 suteibu
suteibu's picture

And rehearsed.  I wonder how long it took him to think it up.  Besides which, there are plenty of Keynesians running around in Japan (for two decades) and the last thing they are feeling is remorse.

Thu, 04/08/2010 - 04:35 | 291245 Seer
Seer's picture

What worthless comments!

Just because you've got some ideological bent against Grayson doesn't mean that everything that he says is without merit/fact.

Once again people manage to demonstrate WHY this country is f*cked.

Wed, 04/07/2010 - 18:46 | 290748 mynhair
mynhair's picture

OJ futures, all.  Crop-killer fungus found here in FL:  citrus blackspot.

Going by the f-up with citrus canker, this is a biggie.

Do NOT follow this link or you will be banned from the site!