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Watch Senator Jeff Merkley Ripping Apart Wall Street Crony Interests Right Now In Attempting To Pass Volcker Rule
Right now on C-Span Jeff Merkley is ripping appart not just Wall Street, but crony and corrupt Senators who are blocking a vote on the Merkley-Levin amendment. As a reminder Merkley-Levin is the critical and actionable form of the Volcker Rule that if passed would destroy Goldman Sachs. Live C-SPAN webcast here.
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Even better watch dylan skewer the faux financial reform bill and discuss with bernie sanders how we only live in an oligarchy. Whatever semblance of representative democracy is OVER. Enjoy. Tyler, please post and make this viral - every Ameican needs to watch this.
http://www.huffingtonpost.com/2010/05/18/gop-blocks-two-key-anti-w_n_580747.htmlI don't trust Sanders after he agreed to water down his "audit the fed" bill. Maybe it was better than nothing, but it smacks of typical Washington horse trading. Stand up and fight for what you believe in and don't take "no" for an answer.
unfortuately "no" is the only answer to any meaningful question asked in Washington... "maybe" has become the new "yes"!!
We need spirit like the Wobblies had. Direct action. They took no crap and didn't back away from fights.
The marched on a mining camp in the early 1900's, were met by the corrupt sheriff and a band of thugs with baseball bats and got the crap knocked out of them.
They marched on that same camp the next day and unionized it.
"A liberal is the guy who leaves the room when a fight starts" -- Big Bill Haywood, co-founder of the Wobblies.
sanders was shown the old horse head in the bed trick,,
or a airplane going down in flames
Awesome, just awesome. This appears to be the only show on TV that is not under a gag order.
Ah the theater....watch them suddenly grow big hairy balls when it's politically expedient..
I watched for a while but that boob Dem. from Rhode Island talked about how there were just too many things that the regulators couldn't do because of lack of funding etc. and that's when I couldn't take it anymore. There are so many excuses for what wasn't done and so little action now to do anything.
If the senate blocks it so be it, but to block it now would be further political suicide IMO.
You should have watched Levin. He said to the effect: wallstreet reached its long dirty hand into the senate today and corrupted the proceedings by parliamentary dodge that prevents the full senate from considering merkley/levin [volker] amendment (which otherwise has a majority in favor) that's desperately needed if american people are not to be further looted by tbtf wall street predatory banks. Sounded like he was going to take it to the mat and make sure the american people understood who was obstructing what-- Spoke unhesitatingly of GS (etal) profiting by deception and selling short america. Impressive statement of truth.
Cripple the last thing propping up the economy..
Good job America, you just never learn.
I am not sure who's economy you are talking about. Wall Street's economy? or Main Streets economy?
Watch this: http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=dxy&sid=0&o_symb=dxy&x=45&y=15
White bright death star flames out over America!! Moon shot to oblivion!! EURO! The bow breaking on the world wide TITanic paper ponzi implosion! Taking refuge in the stern as it breaks apart is no financial life preserver! All paper is chit and backed by thin air promises returning to it intrinsic value! Zerooooooooooooo!
Some how I find all of this hard to beleive. The only way Goldman gives up is if it is physically destroyed all the way to the Rothchilds.
Goldman may not have a choice any more. They are too hated and too many are paying attention. They will fall, one way or the other
Financial Reform my ass ... there is no reform and the Democrats are no better than the Republicans. They both take bank lobby money.
Lev's comb-over FTW
Never trust a man with a comb-over.
How many ZH readers actually worked for a bank? I was once a 55 Water Street Lehman guy and I can tell you beating these guys is not easy.
Can't tell you how many brokers I've seen flame out. Some blew up their books; others just got screwed. The House demands everything and forgives little. And it doesn't matter whether its a broker, a trader or a banker. Life is no different at Goldman or Morgan or Merrill. But for anyone who has been there, that's the way its been for years.
Washington has no clue how the Street works. They don't even know that brokers who work for a House NEVER work for their clients. Brokers work for the House and the minute they expose the House, they're out. No matter how much money they're making.
For anyone who has worked for a bank, and understands how the House makes money, the lobbying has been low key! I don't think anyone from the Hill could last a month on The Street. The pressure is too intense. Managers would kill for a few bps. What do you think these people will do to protect entire profit centers?
Sometimes readers here act like they think some Senator or Member is going to act out a scene from Mr. Smith goes to Washington. There are no profiles in courage in the Capitol. Few politicos understand financial markets. Therefore, its not hard to thrash them around by having lobbyists representing parochial interests make the case.
Even now, with Financial Reform hanging in the balance what have we got?
There are some who really understand it but can't get the votes they need. Others who are carrying the water for their constituencies, (and make no excuses for it,) some who just follow leadership. And let's not forget those who have no intellectual curiousity.
What's left? Only a few votes cast by people who understand the issue and will cast a vote on the merits...devoid of party or other political considerations. As bad as this sounds, consider the alternatives...The FED, SEC, CFTC, FDIC, OCC and little Tim at Treasury.
I hate to make people who trust in the politicians feel bad... but this is a hung politburo.
I'm unsure what the "financial reform" package is supposed to accomplish.
Politicians really are actors. That's not just a cynical statement. They're handed scripts from their lobbyists (literally) and then they act them out. Congressional leaders bully the weak ones into compliance when necessary.
It's even enshrined in "political science" curriculae. If you don't believe me, go take a class. Plenty of professors and graduate students will defend the system with a straight face.
The typical schedule of a congressperson involves just running around in circles at photo ops attempting to collect more money for re-election.
At this point, I suspect that they're receiving way more death threats than usual. That's why they're making certain noises. They want to live a little longer.
this is a good point....few people stop to consider what being a politician is like....i despise them but the truth of the matter is that there are so many issues, so many lobbyists, so many meetings, so much electioneering that they can't be more than a bunny running from one emergency to the next....
half the time the asswipes have no idea about what they are voting.
The Volker rule will never be passed. Why did Merkley vote NO on the Vitter amendment if he wants to do something? Blowhards, the lot of 'em.
We have a system where any aspiring political candidate needs to raise millions to get elected for a $150K/yr job. Sorry - they are all bought and paid for before they raise their right hand for the swearing in ceremony.
The big squid will take down the whole country before it looses its tentacles. Merkel better watch her ass as well.
Excellent analysis, but I still think GS goes down. Sometimes Chaos rules and non-linear events happen.
GS are kamikaze masochists.
Evil turns on evil. It is it's essence. Evil's cannibalistic nature eventually take over.
It will be ugly, and sadly, innocent always suffer as well.
Does anyone have a link to a replay of Merkley's rant ?
"I voted NO on the Vitter amendment." 'Nuff said.
Actions speak louder than words. Especially if you have no integrity.
It should be here at 6:31 time stamp for the set-up and then 6:34 in earnest - still listening as I missed it originally.
http://www.c-spanvideo.org/program/id/224436