The one most promising legacy out of the greatest corporate con early in the last decade, which by the way was Enron for those of you who may not have been born yet, will undoutedly be its lobbying power. As Politico notes: "Possible successors to Bernanke include three people currently advising Obama on the economy, former Fed chief Paul Volcker, Larry Summers and Christina Romer. Kohn was traveling in Europe at the end of the week on Fed business, but strategy on the Bernanke confirmation was being led by former Enron lobbyist Linda Robertson, who is viewed as an effective advocate for the banking chief on Capitol Hill." One con lobbying for another con: what a swell summation of the sad state of affairs in this once great country.
While some China Bears are busy publicizing prediciton of an utter Dubai or Enron-like collapse in China, Beijing is actually in the process of rebalancing its economy and an overheated real estate market. And gold is poised to benefit the most from this shift.
Former Managing Director of Goldman Sachs: Accounting Fraud of the Too Big to Fails May Be Worse Than EnronSubmitted by George Washington on 12/02/2009 17:32 -0500
It made frontrunning, but I have been re-reading this post by Rortybomb like hypontized.
Explains the government's fascination with acronyms instead of the real names for the different plans: “Forney Perpetual Loop”, “Ricochet”, “Ping Pong”, “Black Widow”, “Red Congo”, “Get Shorty.”
Everyone should read this post.