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Ratigan And Sanders "We're An Oligarchy And It's Getting Worse"
Dylan Ratigan and Berney Sanders do a great summary of the various parallel amendment attempts to put some teeth into Dodd's joke of a bill. Ironically, as misguided as it is in most regards, at least Merkel's "reform" showed the kind of conviction that Dodd and his mostly incompetent colleagues will never be able to muster, as they scramble all over each other to collect the scraps that Wall Street has promised them so long as Goldman can generate annual revenues of $60 billion and above. And since our politicians would make the Amsterdam Red Light district blush, you can bet the end results of the Senatorial corruption will be unprecedented, resulting in a bill that achieves the opposite of what it is intended to do: i.e., make banks even stronger and gives the Fed even more power. Which is why any debates about the merits of Merkley-Levin or blah-blah are pointless. The only final arbiter in the reg reform issue will be the market itself, which will resolve everything the second it crashes once and for all. And judging by the size of the carry unwind currently occurring, we may not have to wait long. Which is why we think that Angela Merkel may have brought about the unwinding of the market that will be the one real catalyst to any real reform: after all, for people to express any interest in what is going on in Wall Street's Washington branch, people will have to lose everything... again. As Senator Sanders says, the American people have got to stand up. He is right, however the only thing that will wake America out of its slumber will be one more terminal crash, the one that corrupt and busted finreg reform was supposed to prevent.
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Is that the same Sanders that skewered Ron Paul's bill?
http://www.facebook.com/ronpaul/posts/119856744705368
http://www.facebook.com/ronpaul/posts/116341661738265
and this from somone with the initials TD
http://www.zerohedge.com/article/senators-once-again-show-they-only-work...
+1000 vermont blocks of cheese.
"Not since the Pharaohs and Egyptians worked to screw over everybody and take the money have we seen a group do what's being done to us in our country right now..."
Brilliant
Gotta keep those Algo's locked and loaded...
http://www.bloomberg.com/apps/news?pid=20601087&sid=aE5QO8GdoDn8&pos=9
Prepare yourselves for another rendering of the 'Brown Noise' from the markets...
Regards
Bernie should just put together a simple bill one that calls for SUNSHINE. But not just with the banks. We need a lot of sunshine at The Fed, The SEC, Freddie and Fannie and FHA.
We continue to hide the real problem, and that's the mountain of debt we allowed to build in the housing market. That's why you've got to give some credit to the few Republicans who don't like the bill but not because they're obstructionists, but because they know this bill does nothing to stop the cause of the current crisis and will not stop the next crisis.
Dylan, ask Bernie what he's willing to cut from the federal budget? Will he vote to slowly raise the retirement age so Social Security will be solvent? Will there be a tough vote on Medicare and Medicaid? What is Bernie going to do on the upcoming "Tax Extenders" bill?
These guys are attacking Wall Street with cheap Main Street rhetoric while they have yet to vote against raising the debt ceiling and have not met a problem that can't be solved with federal spending.
The mother of all bubbles is at hand. I think I'm the only person who thinks its hillarious that Obama has all his money in Treasuries. For someone who believes in America, not one dime in the SP 500?
Visit ATMs and have cash on hand, just in case we have a bank holiday called.
Watch Thailand (protests and army have taken to new level), South Korea (fear as accuse North of the torpedo attack), Greece (if the celebrate in the streets tomorrow rather than riot), and passport checks everywhere. Where will Geitner, Bernanke, Clinton, Yellen, Romer, Summer, and everyone they can muster be sent to "calm" with more US debt scattering?
Caution. Listen, and really think, cogitate and analyze.
There is more truth in this single post than in the ENTIRE MSM.
'they must think we're really stupid.'
that may be their downfall right there, if...
this dude rocks!
Until all this reg reform is more thoroughly sorted out we should immediately mandate the return of paper tickets and the three-martini lunch.
Rand Paul wins in a "Randslide".
Bennet ousted.
Specter ousted.
Seems to me that the American people are waking up. Probably too little too late, but it is what it is.
Yes, and Lincoln is in a fight..The exit is stage left..
What worries me is how people/politicians standing up against the Fed and the oligarchs who own it are prone to "accidents".
bingo!
And that is what worried Sanders as well.
I'm glad that it's votes and not gunshots.
I hope that they're our S.O.B.s, and not someone else's...
Once entrenched incumbents see that they can lose, they'll start mobilizing like crazy.
I guarantee that the vast majority of legislators have no clue what the Federal Reserve even is.
Privatized profits
Socialized risk
Any Questions?
Hold up your middle 3 fingers and let 'em read between the lines.
Members of Congress are sent to Washington not to talk but to vote. And Sanders’ talk is not getting us very far when the bill he carried to Audit the Fed became so watered down preceding the Senate vote as to not only render it ineffective but as Ratigan has just proven, misleading.
When you get a unanimous vote in the Senate, as Sanders did with his bait and switch bill after removing the audit measures that he had promised Ron Paul to include, you have accomplished zero, zip, nada. Sanders’ bill adds nothing; and there’s a grave possibility, as Ron Paul pointed out, that it even makes current conditions worse…
If Sanders’ appearance on Ratigan was intended as an inspirational for Americans to stand up, then perhaps Sanders should sit down.
It was less that two weeks ago that Ron Paul made this late night video, May 6, to be exact:
Ron Paul on Socialist Senator Sanders’ Sellout to the ‘Fed”
Thursday night statement (video excerpts):
I’m not a bit surprise that the Federal Reserve got to the Senate …
At the last minute (Sanders) switched it and watered it down and, really, it adds nothing; there’s a possibility that it even makes current conditions worse…
This is so disappointing…I’ve worked for months with Bernie on this. We don’t want this (Bernie’s) version… We need to know what the Open Market Committee does, we need to know what [the Fed] is doing overseas with the agreements with central banks and financial institutions and over governments… this bill (604) does not include this…
It shows what kind of forces we’re up against… The President… the leadership on Wall Street... the Federal Reserve... They’re powerful forces. But just think of all the people who do want it… to find out what’s going on at the Fed…
http://www.youtube.com/watch?v=7II2diHymv4&feature=player_embedded#
It really pisses me off. But let's not forget our f*cktard Republics voting in lockstep to make no reform whatsoever. Jeez they suck
It really pisses me off. But let's not forget our f*cktard Republics voting in lockstep to make no reform whatsoever. Jeez they suck
"We need to know what the Open Market Committee does"
Well said Ron Paul. Well said.
maybe i'm wrong, but it looks to me like Dylan very slyly set Bernie up to expose his hypocrisy without Bernie even realizing it.
my boy ratigan be spittin mad truth.
i'm surprised GE allowed this to be aired.
ratigan rulez
All this crap will only end when the shit finally hits the fan. And it will soon....
High Frequency Swanning – The Crash Camp Takes Overhttp://www.thereformedbroker.com/2010/05/18/high-frequency-swanning-the-...
Pardon me if I'm not surprised by the idiocy of our only congressional Socialist!!
Call me crazy but in the United States of America, I find it hard to believe we expected serious answers to come from a committed fucking SOCIALIST!!
Turd -
I'll offer that you need to know how to build alliances when it's important to reach a shared goal, even with the one Socialist in the Senate. I doubt doing so will turn the country Red or leave red marks on you. I've agreed with nearly everything the man has said about bank reform in the last year. Doesn't mean I'll vote his whole book. On the other hand, what could turn this nation socialist is NOT reforming BANKS. Try having it done the hard way in 10 years. Capitalists need to save themselves from The Central-investment-commercial banking Complex.
anyone who is not willing to consider answers from someone who stands across the ideological chasm should check the footing of their convictions. the ground might not be as solid as you think it is.
now if you were to replace SOCIALIST with HYPOCRITE, agreed.
Of course, our situation requires cooperation and input from both sides, democrat and republican, liberal and conservative. However, our nation was founded upon capitalism and rugged individualism, not collectivism. Our system worked pretty well for 200+ years.
Fix problems, yes. "Fundamental transformation", no.
tasty turd in return mate...i completely agree to the point where the ideology of individualism starts to prevent constructive cooperation when required. not sure how and when it got to that point, maybe it is the addition of the collective social safety net that was installed underneath. individualism with no apparent risk of injury when falling leads to very destructive selfish behavior.
and some would argue that that 'fundamental transformation' has already occurred. witness the widespread support of the so-called socialist 'audit the fed' bill from the senate. this is not the cooperation i think either of us are suggesting for sure.
Yes, my friend, you are right on. It's like the adage of being "a little bit pregnant". The instant the first social safety net was hoisted, the U.S. dream of freedom and individualism began to collapse. The politicians soon discovered they could ensure tenure by expanding the net to include more and more citizens. Soon, the worst parts of human nature take over and you are left, ultimately, with an unsustainable economic/political system.
Sadly, the next step is totalitarianism/fascism as those using the safety net as a hammock (pretty much everyone and every institution at this point) willingly give up freedoms in exchange for safety, food, etc.
Doomed.
Being a newbie to ZH who now is losing sleep reading most every post. Reading on the can, during lunch at work and into the wee hours when the comments become fun... and lying to the wife I'm not obsessing (heh heh).
I am fascinated to learn why Ratigan on MSNBC is allowed to speak the truth without repercussions.
Tyler... has this been discussed by the Oracles of Zero Hedge and I have just missed it?
My guess is its a combination of 1) mood of country and 2) GE selling 51% so they can claim no operational control when seeking their government contracts. Mostly, I think if he were canned, there are so many media alternatives today, it would just kill the credibility of MSNBC at the wrong time. Their new branding is 'truth to power'. Meanwhile, over on CNBC......
ha ha
Yeah...Becky Quick is hot but still a shill. Kinda looks like Jennifer Aniston. Pretty much all I learn there although Rick Santelli has his muzzled moments.
MSNBC/CNBC are in fiscal trouble. So they're trying different things.
The head of MSNBC, if I recall correctly, expressed some admiration for Roger Ailes' stewardship of Fox News.
One consequence of the fiscal crisis in the government is that they can no longer afford to place paid hacks on cable as pundits to the degree they were able to before. That makes dissent more possible and profitable.
Greed clarifies, cuts through, and captures the essence of the evolutionary spirit.
Where's the Rand Paul news? I figured ZH would love it, then again I get surprised here on occassion.
I thought the unsecured short ban on sovereign debt was a good thing. I don't see the purpose it serves proportionately, unlike shorting regular highly liquid stocks. Did I miss something else? I'm batting about .500 this week, but I'll tell you all about National Bank and Marquette.
The anti govt rebellion is growing by the day. Watch what is happening in Greece and now Thailand. Coming to Washignton soon !
After the next crash, people will not be interested in any "reforms" coming from Washington. After the next crash, people will have nothing to lose. They will be looking to roll heads. Anyway, its too late. The die is cast. Any reforms coming from Washington at this point are pointless. Just like the actions of Germany. Makes no difference. Its just a mater of when. My work suggests sooner rather than later. This is a very critical period. My longer term work pointed to this week as the starting point for a significant drop. We'll see.
YOU HAVE NO RIGHTS - George Carlin
http://www.youtube.com/watch?v=hWiBt-pqp0E
Skippy...how could you say it any better.
welcome back skippy...nice to see you mate
dear sanders...go fuck yourself you Fed loving douchemonkey. what happened 2:45 may 6th bernie? why did you scrap your amendment. fuck him
Of Equal or Greater Importance:
Please stop commenting here and RIGHT NOW, call Senator Harry Reid's office at 202-224-3542 and DEMAND that he NOT end the debate on the Financial Reform Bill!
Many important ammendments are still pending like reinactment of Glass-Stegal and others. Dodd and Shelby are the bill managers and are trying to keep this as tootless as possible, give more power to the Fed and do nothing to end TBTF.
DO IT NOW! CALL 202-224-3542 and tell Reid to keep going till they have something real, and not just a pretend "fix".
They think by ending debate and passing this now, they will avoid crazy town hall meetings when they go home on break, but if they pass what they have now, they should be greeted by lynch mobs!
Dylan as usual knocks it out of the park and over the crossway. Excellent job simplfying the story and using appealing graphics so that mom & pop can understand how simple the concept keeping all gambling gains and socializing all gambling losses. Watch the spin when a filibuster occurs and the adminstration attempts to paint the people hating Republicans as the hamburglers once again.
Maybe the primaries will penetrate the thick skulls of these pols. You are either with us or against us regardless of party. Dylan once again increase the heat and I expect him to have a primetime show by end of year.
Sanders says everything you want to hear but fails in his actions. Ron paul says everything you want to hear and backs it up with his actions. This is the difference between a hypocrite and a patriot.