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"Why Would Politicians Allow The Free Market To Work And Expect To Be Re-elected?"

Tyler Durden's picture





 

Between discussions of gold-backed debt issuance in Europe (from Rick Santelli) and why Europe's problem is not merely a banking crisis but far worse (with the need for large-scale default and deleveraging as opposed to constant political intervention to makes things worse - quoting our earlier note on Italy's insanity), Michael Pento asks, rhetorically we pre-supposed: "What is wrong with letting the free markets work here? Let's let what is going to happen, happen!" But Bill Griffeth provides the truth-quote-of-the-day (in a stunning kimono-opening for the CNBC-watching public at large) when he opines on Pento's question that "There is not a single politician who hopes to let the free markets work and be reelected."

Indeed - as Santelli adds: "You Nailed It!"

 

 


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Tue, 06/12/2012 - 17:03 | Link to Comment FL_Conservative
FL_Conservative's picture

There's too much left to CHANCE in FREE markets.

Tue, 06/12/2012 - 17:11 | Link to Comment Aziz
Aziz's picture

I'd put it that there's too much TRUTH in free markets.

Tue, 06/12/2012 - 17:48 | Link to Comment CvlDobd
CvlDobd's picture

Can anyone recommend a good law firm for securities, banking, and most importantly theft of assets.

I'm serious thanks. I'm in the south east if it helps.

Sorry to hi jack the thread but I'm serious.

Much obliged.

Tue, 06/12/2012 - 18:05 | Link to Comment MachoMan
MachoMan's picture

I'm pretty sure all the top shelf talent is already running full speed...  they'll now be on the defensive as their handywork comes under court scrutiny and the general equities involved (as well as the jury pools) aren't to fond of large financial institutions...  and hope that they are not in any way implicated...

Tue, 06/12/2012 - 18:15 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

You may want to use someone in the area that the theft occurred, especially if you if you have to go through FINRA arbitration.  I know someone who won a pretty big lawsuit against a large financial firm, huge law firm, and ivy league professor, not in your area though.  If you have a solid case you can win.   

http://www.stockmarketattorney.com/

http://www.huffingtonpost.com/2012/02/01/bobby-hayes-merrill-lynch_n_124...

 

 

 

 

 

Tue, 06/12/2012 - 18:59 | Link to Comment CvlDobd
CvlDobd's picture

Thanks friendo.

Tue, 06/12/2012 - 18:54 | Link to Comment disabledvet
disabledvet's picture

Who was that running for President guy from North Carolina who had the hung jury? Try that guy.

Tue, 06/12/2012 - 19:02 | Link to Comment TrainWreck1
TrainWreck1's picture

the Breck ex-Senator is preparing a $100 hajillion dollar suit for defamation of character against everyone that ever gave him the hairy eye.

 

Tue, 06/12/2012 - 19:04 | Link to Comment Dr. Engali
Dr. Engali's picture

+1 that's funny.

Tue, 06/12/2012 - 18:59 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

And this guy is a great consultant that specializes in securities litigation.  You need him to prove the other guys wrong and make them look stupid in the process.

 

http://www.slcg.com/resumes.php?c=1b&i=10

Tue, 06/12/2012 - 20:46 | Link to Comment b-rad-is-rad
b-rad-is-rad's picture

Miami South East? Sent you a contact request

Tue, 06/12/2012 - 17:14 | Link to Comment ArkansasAngie
ArkansasAngie's picture

Nope ... missed it ... They are convinced that the sheeple will want to explain moral hazard to those currently in office when their ponzi is made visible for all to see

Tue, 06/12/2012 - 17:18 | Link to Comment nope-1004
nope-1004's picture

Pardon my ignorance, as I have only been trading for 20 years, but....  

What is a "free market"?

 

Tue, 06/12/2012 - 17:30 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

No worries, let me help. It's a market where the banksters steal all of your fiat wealth for free. 

Tue, 06/12/2012 - 17:41 | Link to Comment Dr. Engali
Dr. Engali's picture

A free market is where two or more people can exchange goods and services at an agreed upon price with no outside interference.
Probably the closest thing left to a free market is a garage sale, and they are coming after them too.

Tue, 06/12/2012 - 17:47 | Link to Comment ich1baN
ich1baN's picture

Well, there was that time when you could sell lemonade on the side of the street  in exchange for cash. But, that is culminating and igniting greed in minds to young to understand what markets are about.

Tue, 06/12/2012 - 17:58 | Link to Comment Bohm Squad
Bohm Squad's picture

You can still do lemonade stands given one has the proper permits, collects sales tax, performs OSHA inspections and ensures employees have the legal right to work.

Tue, 06/12/2012 - 19:04 | Link to Comment Roger O. Thornhill
Roger O. Thornhill's picture

When a free market dies - as it is doing, there will arise a 'secret' free market. The government, of course, calls those 'black markets.'

They hate markets where they can't fleece the citizenry.

Tue, 06/12/2012 - 20:04 | Link to Comment Bollixed
Bollixed's picture

Where's MDB with his need for mandated public sanitation (restrooms) next to lemonade stands but far enough away to strike the critical balance between government perfection and human calamity.

And badges. Give those lemonade girls badges. We need government badges to keep the streets safe from marauding bands of lemonade pushers and other potential predators siphoning off money that should rightfully go into city coffers where it actually has a chance at fostering more government services. </sarc>

Tue, 06/12/2012 - 21:29 | Link to Comment EINSILVERGUY
EINSILVERGUY's picture

Badges?  They don't need no stinking badges

Tue, 06/12/2012 - 17:54 | Link to Comment Satan
Satan's picture

Kinda like a flea market?

Tue, 06/12/2012 - 17:59 | Link to Comment MachoMan
MachoMan's picture

actually, flea markets can exist in perpetuity...  free markets are but a sparkle in the eye of time.

Tue, 06/12/2012 - 18:50 | Link to Comment batterycharged
batterycharged's picture

Yes, a garage sale is an excellent example.

And communism is where everyone shares, gives what they can and takes what they need. A good example of communism is your household.

Funny how this fantasy bullshit only works on a small scale, ain't it?

Tue, 06/12/2012 - 22:55 | Link to Comment 0z
0z's picture

You could make the argument to the contrary. Never seen any kid get away with taking daddys wallet to the mall.

Tue, 06/12/2012 - 19:13 | Link to Comment Maos Dog
Tue, 06/12/2012 - 17:49 | Link to Comment MachoMan
MachoMan's picture

That timespan before someone gains a competitive advantage in a particular market and then exploits all resources to ensure barriers to entry guaranty a monopoly.  Generally speaking, the larger the government, the larger the pool of "resources."

Tue, 06/12/2012 - 17:51 | Link to Comment lemonobrien
lemonobrien's picture

"free" to get taken.

Tue, 06/12/2012 - 18:07 | Link to Comment narnia
narnia's picture

I'm not sure a free market in politics would include term limits

Tue, 06/12/2012 - 18:39 | Link to Comment AldoHux_IV
AldoHux_IV's picture

+1

The free market is like democracy-- ideals that don't exist and we can blame central banks and politicians, but we should also blame ourselves for allowing things to continue as they do.

Here's a solution to the cnbc comment: term limits.

Tue, 06/12/2012 - 22:59 | Link to Comment 0z
0z's picture

Free market inevitably leads to the absence of a "public sector". Companies would have to provide protection and legislatures. Democracy is capitalism, only one votes every day with his wallet.

Tue, 06/12/2012 - 17:19 | Link to Comment financial apoca...
financial apocalyptic contagion's picture

Bill Griffeth and CNBC will now "mutually part ways"

Tue, 06/12/2012 - 17:34 | Link to Comment lordbyroniv
lordbyroniv's picture

I fully get the Reign of Terror and demand for blood that came with the French Revolution.

 

After you guillotine the upper echelon....I think people will want to go after the lower levels too.

 

That is,..the "Marias and Bill Griffiths".

 

Anyone catch Bob Pisani making the case for taxes on real property in discussing the North Dakota legislation?  MAD PROPS to John Carney for stating taxes on real property are IMMORAL.

Tue, 06/12/2012 - 17:47 | Link to Comment MeBizarro
MeBizarro's picture

I guess that almost every gov't in history then is IMMORAL then.  More nonsense. 

Tue, 06/12/2012 - 18:47 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

Your first sentence has you on the right path. Just change your caps lock so that the emphasis is placed on the the word "IS". You once again highlight the accuracy of choice of pseudonym.

Tue, 06/12/2012 - 17:47 | Link to Comment ArrestBobRubin
ArrestBobRubin's picture

Ya mean Bob Piss Anty?

Tue, 06/12/2012 - 17:59 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

You get to think you own your property as long as you pay the government it's rent every year.

Tue, 06/12/2012 - 22:45 | Link to Comment 0z
0z's picture

How so?

Tue, 06/12/2012 - 17:05 | Link to Comment theTribster
theTribster's picture

Love Ricky from ChiTown....

Tue, 06/12/2012 - 17:07 | Link to Comment CommunityStandard
CommunityStandard's picture

This might be the fundamental flaw in a democratic government.  Keep the markets up and bail out the banks, and the banksters give you money for your elections.  Keep the "bread and circuses" flowing, and the population votes you in.  It'll continue until it can no longer sustain itself.  Revolution.  Reconstitution.  Then the cycle starts again.

Tue, 06/12/2012 - 17:21 | Link to Comment narapoiddyslexia
narapoiddyslexia's picture

Republics decline into democracies and democracies degenerate into despotisms - Aristotle

 


Tue, 06/12/2012 - 18:24 | Link to Comment Poor Grogman
Poor Grogman's picture

Not an encouraging quote from the old fossil.

What I need is some SOLUTIONS, not more problems...

Tue, 06/12/2012 - 20:45 | Link to Comment mkhs
mkhs's picture

A good solution is one part gin, ice and a drop of vermouth.

Tue, 06/12/2012 - 18:49 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

I would have thought that this might be the fundamental flaw in a fascist government.

Tue, 06/12/2012 - 23:25 | Link to Comment JeffB
JeffB's picture

I think a democracy is a lot like a garden. You have to keep working at it. If you get lazy the weeds begin to take over.

Thomas Jefferson had it right, that central banking is a great evil and a scourge on society. James Madison and Andrew Jackson also realized it.

We messed up when we let the banksters get their way and foist the Federal Reserve on our nation. The Federal Reserve, aka The Creature from Jekyll Island has caused a lot of grief since it's inception December 23rd, 1913:

The Fed – Report Card  after 80 years of “stabilizing the economy”, G. Edward Griffin:

Crashes
1921
1929
29-39 The Great Depression

Recessions
53
57
69
75
81

Stock Market Black Monday  87

Greater Debt

Corporate
Personal greater than ever

Bankruptcies business and personal

Banks & Savings & Loans  - failed at a greater rate than ever in our history

Dot.com bubble

Housing bubble

"The Great Recession" - still in progress...

 

Tue, 06/12/2012 - 17:06 | Link to Comment Newsboy
Newsboy's picture

It all depends on how you define "free".

William Jefferson Clinton

Tue, 06/12/2012 - 17:07 | Link to Comment LongSoupLine
LongSoupLine's picture

"A cigar is not just a cigar"

Tue, 06/12/2012 - 18:07 | Link to Comment BlackholeDivestment
BlackholeDivestment's picture

Newsboy, ''you'' hit the nail on the head.

The fact is the definition of freedom is in the image of ''those persons'' that ''do not care'' for human life, so long as the whole of ''their own'' short term ''gain'' is met, which this market defines at the expense of life, labor and freedom, rather than growth above the debt that secures the scum of the Earth.

So here we all stand, subject to the lawless scumbags. We continue to allow and accept ''their'' number(s), which represent ''their account'' against all of us. We have continued to accept ''their'' corrupt system, which has now brought us to the valley of decision and we still remain in contempt, having not been move to restore order. 

The so called solutions that are being offered, and that will rise out of this current crop of Tares, overcame the market and has subjected labor to the loss of principle because the Tares are nothing more than crop killers that only feed themselves. Every time we show up for work now, and every time we buy sell and trade this market, we place the mark of contempt upon ourselves and are sealed to judgment. 

It is time for judgment to come in fullness, let it come quickly, and let the end of this pathetic war against ourselves end.

 

Tue, 06/12/2012 - 18:49 | Link to Comment GernB
GernB's picture

There's a universe of difference between making laws to protect people from infringing on other people's rights, including their right to life liberty and property, and making laws to protect people from anything bad that can ever happen to them or any stupid decisions they might make. Freedom comes with limits, and in this country they used to be fairly clear, you can't kill people (infringe their right to life), kidnap them or unjustly improson them (infringe on their liberty), steal from them, swindle them, or tell them they can't use their land without compensating them for it (infringing their right to property).

Corporations must live by the same laws. Free markets are only free to the extent you do not infringe on someone elses rights, destroy their property, directly or indirectly steal their wealth, etc. The system is corrupt because the more we try to remove consequences and replace them with regulations and laws the more opportunity there is for those with influence to bend those rules and regulations to their advantage, free from the normal consequences of their own actions. It's so warped people's perspective that they don't lilke freedom any more because they've come to associate it with host of wrongs that government and corporations engage in that infringe on people's rights.

Tue, 06/12/2012 - 23:30 | Link to Comment JeffB
JeffB's picture

Well said GernB!

 

Wed, 06/13/2012 - 03:34 | Link to Comment AnAnonymous
AnAnonymous's picture

Freedom comes with limits, and in this country they used to be fairly clear, you can't kill people (infringe their right to life), kidnap them or unjustly improson them (infringe on their liberty), steal from them, swindle them, or tell them they can't use their land without compensating them for it (infringing their right to property).

____________________________

And they were clear, fairly clear when? When US citizens were busy stealing an entire continent?

US citizenism has not changed. it is the same as before. You are just slipping on the wrong side of it.

Bear with it.

Wed, 06/13/2012 - 04:37 | Link to Comment GernB
GernB's picture

I wasn't speaking of conflicts between nations, but of the rules buy which countries govern their own people. Your assertion, whether true or false, has nothing to do with my statements. Since there is no central government ruling over nations they are naturally free, in the worst possible way, because the only impedement to infringing another nations rights is the ability of that country to fight back.

Wed, 06/13/2012 - 06:37 | Link to Comment AnAnonymous
AnAnonymous's picture

Made me laugh.

Governments are not binded by the treaties they write and sign themselves?
Treaties do not govern their own people?

Cheap propaganda. If it is the only thing you have in store, then the answer is simple: you are out of the covenant and puff, done. You are left with nothing to grieve on.

Aint US citizenism nice?

Tue, 06/12/2012 - 23:40 | Link to Comment Newsboy
Newsboy's picture

It is good that you see clearly.

Be not at war, with yourself or others.

Peace, brother.

Wed, 06/13/2012 - 03:37 | Link to Comment BlackholeDivestment
BlackholeDivestment's picture

 This just in, we are all in a war zone and it's called life on Earth.

http://bible.cc/ephesians/6-12.htm 

http://www.biblegateway.com/passage/?search=Revelation+12%3A11&version=KJV 

http://bible.cc/matthew/18-12.htm 

How does mercy end up beaten and nailed to a tree? Could it beee ...a war is at hand? Lol.

 

http://www.youtube.com/watch?v=nZ-oFJS1g8s

Tue, 06/12/2012 - 17:06 | Link to Comment LongSoupLine
LongSoupLine's picture

Maria makes me cring just knowing the stratospheric levels of her shilldom...stupid bitch.

Tue, 06/12/2012 - 17:24 | Link to Comment oddjob
oddjob's picture

I dislike her obscenely gigantic can.

Tue, 06/12/2012 - 17:31 | Link to Comment Rainman
Rainman's picture

yo...we call that big back on da street

Tue, 06/12/2012 - 17:32 | Link to Comment kaiserhoff
kaiserhoff's picture

Well yes, but Moochelle sets the pace;)

Tue, 06/12/2012 - 17:07 | Link to Comment marketcycles79
marketcycles79's picture

Jun 12 market close update

with today's market strong rally

 

http://humblestudent777.blogspot.com/   been a pleasure to follow these set ups and indicators. Talking heads like the ones above on cnbc just push senseless jibberish that clouds quality analysis

Tue, 06/12/2012 - 17:07 | Link to Comment cossack55
cossack55's picture

I guess Pento is back in the good graces now that the CFR bitch 34B cups has moved on up to the east side.

Tue, 06/12/2012 - 17:07 | Link to Comment ptoemmes
ptoemmes's picture

Pento/Santelli re: Congress: "Serve your country and then go home:".

A draft for Congress maybe?

Kind of kidding but maybe not...

 

Tue, 06/12/2012 - 17:36 | Link to Comment batterycharged
batterycharged's picture

We have limited terms in Michigan. Works wonders, if you think your representative ignores you now, just imagine how little he'll care what you think when he knows for certain he doesn't have to face re-election.

I love these folks on CNBC, talking like they are economic geniuses that have thought out policy long-and-hard.....rather than being a bunch of worthless fucking GAMBLERS that only care about the action in investment.

Yeah, let's listen to these morons that could care less if the economy sinks as long as they know how to make money on it.

Or these morons that could care less if people's lives are ruined because to them it's a GAME.

Yeah, these are your EXPERTS. Talking about "Free Markets".

They remind me of those sports shows with gambling experts talking about the spreads on the games. Please don't confuse them with people that should be making policy or anyone that has thought longer about something than 10 minutes prior to being mic'd up.

Tue, 06/12/2012 - 17:49 | Link to Comment MeBizarro
MeBizarro's picture

Thank you.  They talk in vagaries and throw empty rhetoric while yelling in order to grab ratings.  An actual discussion with facts and lots of talking points would be dead in the water. 

Tue, 06/12/2012 - 22:39 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture


"if you think your representative ignores you now, just imagine how little he'll care what you think when he knows for certain he doesn't have to face re-election."

I'm not one to feel left out if my rep. doesn't care about me. That's not important. What their concern should be is: What are the guaranteed consequences of treason, to the constitution and people , if I don't uphold my oath? I want a system where the pursuit of hapiness, property rights, sound money supporting those inalienable rights ( My money is MY property and not to be trifled with through fiat and thieving usury)

They'll care if the people care. Education first.

Tue, 06/12/2012 - 17:47 | Link to Comment No One
No One's picture

Term Limits are not the answer. I am in California and they don't work. They work for the lobbyist and those who finance the elections, as they just queue up their bills waiting for the next newbie to come forth.

I think the only real solution to our political problem is to take out all of the money from the process. All of it. No lobbyists, no Super Pacs, no donations to political parties, etc. At that point (hopefully) America will be served by those who want to serve the country, rather than pocketbooks and donors.Pollyanna I know, but what we have now isn't working.

 

 

Tue, 06/12/2012 - 17:53 | Link to Comment TrainWreck1
TrainWreck1's picture

Term limits are the answer, but they need to be in hours, maybe minutes. Then it's a gold watch, thank you for your service and put them in a trebuchet and lob them into mexico, or possibly new jersey.

 

 

Tue, 06/12/2012 - 19:07 | Link to Comment Big Corked Boots
Big Corked Boots's picture

Please. Jersey gets everyone's shit.

Give us a break... we can't even get Corzine out of Hoboken.

Tue, 06/12/2012 - 17:58 | Link to Comment MachoMan
MachoMan's picture

You fumbled on the goal line.  I'll posit that any time you hear anyone that says he "wants to serve the country," then you need to run the fuck away...  double time.  The entire control structure is overrun with sociopaths...  the only way to ensure they do not rise to positions of control is to eliminate the process that allows them to excel.  Ultimately, the only way you do this is through jury pool like selections...  randomly from the population...  with some american idol style knockout voting or, alternatively, with some challenges/strikes from other bodies.  It pays dick, but all your expenses are paid while in office.

The problem with american politics is fundamental...  it's in the self-nomination process.  Elminate that and you'll have a chance at getting somewhere.

Tue, 06/12/2012 - 20:23 | Link to Comment Cathartes Aura
Cathartes Aura's picture

I'd be down with anyone who truly wanted to "serve the country" - as in voluntary service, no paycheck, no contributions from anyone at all, corporation or otherwise,

in other words, no money.   room & board, per diems - but zero profit.

see how many "patriots" turn up for that gig. . .

Tue, 06/12/2012 - 22:11 | Link to Comment johnnynaps
johnnynaps's picture

How about performance pay? High approval rating, high pay?!

Tue, 06/12/2012 - 22:53 | Link to Comment Cathartes Aura
Cathartes Aura's picture

if they wanted to perform for pay, they could do that in the "free market" world, where money matters, & they could be monitored for greed.  no revolving doors to corporate either, limits on the speechifying tours too. . .

nope, in my perfect world, public servants would serve the public - or GTFO, lol.

Tue, 06/12/2012 - 22:18 | Link to Comment InjuredThales
InjuredThales's picture

No. Those are the worst sorts of people.

Wed, 06/13/2012 - 10:02 | Link to Comment MachoMan
MachoMan's picture

exactly...  generally speaking you would be assured to find representatives that have no place else to go...  this is why they have to be randomly selected from the populace and then you get a few knockout votes to weed off the more downsy ones.  This is about the only way I can fathom that you should get at least a couple candidates that are actually worthy of the position...  albeit begrudgingly/against their will.  It also has the added benefit of incentivizing everyone to realistically and practically educate everyone, as they may just be your leader one day.

Wed, 06/13/2012 - 00:35 | Link to Comment MrButtoMcFarty
MrButtoMcFarty's picture

Hear Hear!

K Street MUST DIE!

Otherwise, our Republic is lost.

Tue, 06/12/2012 - 17:07 | Link to Comment fonzannoon
fonzannoon's picture

I saw that exchange. It's out in the open now. The reason is because no one really gives a shit anymore. Say the word Fiscal cliff and people yawn. I think thats part of a plan. Blast you with scary phrases so often that you become totally desensitized to it. Then laugh out loud mockingly at the real solution so everyone just assumes it could never happen.

Tue, 06/12/2012 - 17:07 | Link to Comment Zero Govt
Zero Govt's picture

you can only mention the "free market" once a month on CNBC

guests who've mentioned the FM have never been asked back again and some never seen again!!

Tue, 06/12/2012 - 17:11 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Obamney 2012 campaign slogan

 "No pain, no pain."

Tue, 06/12/2012 - 17:29 | Link to Comment francis_sawyer
francis_sawyer's picture

 "You ain't seen nothin' yet"

Tue, 06/12/2012 - 17:41 | Link to Comment Seasmoke
Seasmoke's picture

I Hope you have some Change left

Wed, 06/13/2012 - 00:39 | Link to Comment MrButtoMcFarty
MrButtoMcFarty's picture

"Sheeeeiiiiitt...I know you ain't voting for Mr. Magic Underwear."

Tue, 06/12/2012 - 17:09 | Link to Comment piceridu
piceridu's picture

"There is not a single politician who hopes to let the free markets work and be reelected."
Truth is stranger than fiction.

Tue, 06/12/2012 - 17:24 | Link to Comment TheGardener
TheGardener's picture

The democratic religion is not necessarily against free
markets but would rather have them promised for the
next world.

Tue, 06/12/2012 - 17:40 | Link to Comment batterycharged
batterycharged's picture

Yeah....isn't that what happened to Hoover?

Funny how when you let the economy go off into oblivion that people think of you as an absentee landlord.

Give me some of dat Free Market KOOLAID....OH YEAHHHH!

Tue, 06/12/2012 - 17:56 | Link to Comment Sophist Economicus
Sophist Economicus's picture

"...isn't that what happened to Hoover?"

 

Uhm, NO.   Hoover was one of the biggest anti-free market presidents ever.   As a matter of fact, most of FDR's alphabet soup New Deal was just a continuation of Hoover's actions.   Of course, the Lefties don't tell you that, since it had to be one of theirs that was the  Messiah....

Tue, 06/12/2012 - 22:19 | Link to Comment InjuredThales
InjuredThales's picture

Totally ignorant.

Tue, 06/12/2012 - 22:19 | Link to Comment InjuredThales
InjuredThales's picture

Totally ignorant.

Tue, 06/12/2012 - 22:20 | Link to Comment InjuredThales
InjuredThales's picture

Totally ignorant.

Tue, 06/12/2012 - 17:14 | Link to Comment tgatliff
tgatliff's picture

Santelli is just as bad... He wants less regulation, but this is not realistic when the financial world blackmails economies to get what they want.   Either you make sure that the top bankers make money as well as clean up their messes when their speculative bets go bad, or they will destroy your economies thru the use of MAD.  

Until the bankers financial weapons of mass destruction (aka Derivatives) are unwound and economies recover, it is best to keep the bankers on an exceptionally tight lease as well as pass laws making them personally responsible for when the institutions they run collapse.

Tue, 06/12/2012 - 17:18 | Link to Comment cosmictrainwreck
cosmictrainwreck's picture

well, I could satisfy Rick's"less regulation" by burning the 800-page "reform" abortion they cobbled together with God knows how many fucking loopholes, etc. etc. Give Rick a one-page Act that says "against the law - even for bankers - to CHEAT, LIE, STEAL & PURJURE" and here's the penalties. Of course, the whores in DC will NEVER do it, so WTF.....

Tue, 06/12/2012 - 17:33 | Link to Comment tgatliff
tgatliff's picture

Elected officials simply echo the mood of the people who elected them.   If the public hated them so bad, then no amount of lobbying would reelect them.  Right now, however, most of the public is just like their elected officials do not want to accept the fact that we have a major issue, and that their current reality is simply unsustainable.  

Any real legislation will have to wait until the inevitable financial collapse occurs and the public officials are forced to realize that things must change.   Just like when Glass-Steagle as passed, only after a realization of what has occured will there be the desire to learn from our mistakes and rebuild the next system into a more sustainable framework.   Until that time, the general public who elects the politicians will simply be to pretend that things are not as bad as people are saying and that we just need to make minor changes.

 

 

Tue, 06/12/2012 - 17:45 | Link to Comment cosmictrainwreck
cosmictrainwreck's picture

Agreed - you are, of course, absolutely correct (dammit). I'm just quite less philosophical, but not quite prepared to take life-threatening action

Tue, 06/12/2012 - 18:59 | Link to Comment Imminent Collapse
Imminent Collapse's picture

+1

Tue, 06/12/2012 - 21:34 | Link to Comment geoffb
geoffb's picture

Uh, have you seen the approval ratings of congress or the president? Lowest in decades. The bankers are not going to let anyone on that ballot that isn't down with the program. No matter what the public wants. Both political sides have erected road blocks that make it virtually impossible that anyone else gets in. There is no desire to learn from mistakes, they are doing it exactly how they want. When the collapse comes they will simply wait in the wings and slowly creep back into the system and reimplement it.

Tue, 06/12/2012 - 22:55 | Link to Comment shuckster
shuckster's picture

Where do these mythical "approval ratings" come from? They're made up, that's where

Tue, 06/12/2012 - 17:51 | Link to Comment MeBizarro
MeBizarro's picture

A one-page act?  Yeah that would definitely cover all of the complexities of a modern economy.  Maybe we should have them put their hand across their heart, say a pledge, and not cross their fingers behind their backs too. 

Tue, 06/12/2012 - 17:17 | Link to Comment ArkansasAngie
ArkansasAngie's picture

It isn't a lack of regulation.  It's a complete lack of enforcement of existing regulation

Tue, 06/12/2012 - 21:24 | Link to Comment MeBizarro
MeBizarro's picture

That's a large part of it but there are also a ton of new leveraged instruments that have been created in the past 10 or so that need to be regulated.  That or simply not made legal.   

Tue, 06/12/2012 - 17:17 | Link to Comment Turin Turambar
Turin Turambar's picture

You need to focus on the monster, not the people riding it.  Eliminate fiat fractional reserve banking, and the beast is killed.  Commodity based notes with 100% REAL reserves in bank vaults is the ONLY way to go.  Any system other than this is, to one degree or another, on the road to 100% fiat currency.  It is the end of a slippery slope and is not only unavoidable but desired by the bankers and politicians.  It's a license to commit fraud and theft upon the citizenry.

Tue, 06/12/2012 - 17:18 | Link to Comment Rip van Wrinkle
Rip van Wrinkle's picture

Santelli wants the ultimate regulation.

 

Bankruptcy. That's all you need. Nothing more and nothing less than capitalism.

Tue, 06/12/2012 - 17:24 | Link to Comment A L I E N
A L I E N's picture

Exactly, failure is the only effective regulator.  It would have saved the economy from the darkness we have entered..

Tue, 06/12/2012 - 17:34 | Link to Comment tgatliff
tgatliff's picture


It's Always Darkest Just Before The Lights Go Out. -- Alex Clark

Tue, 06/12/2012 - 18:21 | Link to Comment GernB
GernB's picture

I agree as long as it is failure with consequences. If CEOs can run a company or a bank into the ground then skip off with millions in benefits and severance then we have failure but with no consequences. Bring back consequences. If a bank failes the people in charge should retroactively loose any bonuses and benefits for the last few years and that money, to the extent it is available should go to help make the depositors whole.

Wed, 06/13/2012 - 01:47 | Link to Comment Peter K
Peter K's picture

Aye, aye. Ouf wif 'er 'eads.

Bitchzzzzzzz

Tue, 06/12/2012 - 17:20 | Link to Comment Dr. Engali
Dr. Engali's picture

We see where all this regulation is getting us. Has it ever occurred to you that the financial terrorists hold our economies hostage so they can get the regulation they want ? It's weird how the regulation always works out in favor of consolidation and making the TBTFs even bigger and more powerful.

Tue, 06/12/2012 - 18:31 | Link to Comment jimmyjames
jimmyjames's picture

We see where all this regulation is getting us. Has it ever occurred to you that the financial terrorists hold our economies hostage so they can get the regulation they want ?

***********

Absolutely right-there should be no regulations period-

There should be laws protecting the citizens and property rights-

Insert gold standard with a law protecting it and watch it regulate "everything" especially bankers and politicians-

Tue, 06/12/2012 - 18:54 | Link to Comment TrulyBelieving
TrulyBelieving's picture

Yes, the sociopaths are in charge now, and I learned yesterday that their koolaid is being spiked with LSD.  So it looks like we're in for a wild and bumpy ride. Please prepare, and above all, be on the right side.

Wed, 06/13/2012 - 03:48 | Link to Comment AnAnonymous
AnAnonymous's picture

We see where all this regulation is getting us. Has it ever occurred to you that the financial terrorists hold our economies hostage so they can get the regulation they want ? It's weird how the regulation always works out in favor of consolidation and making the TBTFs even bigger and more powerful.

___________________________________________

It is funny. As said, the solution to the ailments of US citizenism is even more US citizenism.

Competition is a quantitative process. As such, it requires a rule to measure up competitiveness.
There is no greater competitive edge than being able to manipulate the rule. Trying to turn the table to you is an essential part of competition.

How could it be weird? This is how competition works. And this is the expected result.

In their fantasy world, for some US citizens, US citizen corporations do not compete when US citizen corporations compete and are simply better competitors than those some US citizens.

Tue, 06/12/2012 - 18:27 | Link to Comment GernB
GernB's picture

We're just talking about different kinds of regulation. If those in charge retroactively lost bonuses and any excessive pay upon a bank failure then you wouldn't need to stop them from using derivatives, they'd stop themselves because nobody would want to loose their money. Regulation through rule making is just trying to control behavior with no consequences. People just find creative ways around the rules. Have regulation that supplies stiff consequences to decisions makers for failure to protect depositors money and you'd kill two birds with one stone: radically simplify banking regulation because people would police themselves, and break up banks that were too large for management to control the risk.

Tue, 06/12/2012 - 19:04 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

Banks aren't banks anymore. Most people think the bank is the place where you out your money for safe keeping. Not these institutions that risk it all on the roulette wheel. You don't get any of the spoils if they win. And you pay if they lose. Make banks the place where you store your wealth again, instead of the casinos that they have become.

Wed, 06/13/2012 - 03:49 | Link to Comment AnAnonymous
AnAnonymous's picture

This safe keeping is hard to achieve in US citizen economics as everything is about consumption, including saving.

Tue, 06/12/2012 - 17:10 | Link to Comment Atlantis Consigliore
Atlantis Consigliore's picture

Buy it to sell it short,  wait until the surprise Greek, vote sunday.

 

Europe is finished...Eu is over....SHUT UP MARIA.

Tue, 06/12/2012 - 17:12 | Link to Comment Whoa Black Barry
Whoa Black Barry's picture

I nailed Lauren and she called me Reggie.WTF?

Tue, 06/12/2012 - 17:12 | Link to Comment Turin Turambar
Turin Turambar's picture

If the market is free, then what is there for a politician to take credit for?  Nothing.  It's really that simple.

Can you imagine what would happen if a government official visited a farmer and tried to take credit for sunshine and rain?  LOL

Tue, 06/12/2012 - 19:19 | Link to Comment Big Corked Boots
Big Corked Boots's picture

Funny, except the opposite is true - there are FDA officials running around (usually small family farms) locking up farmers for producing food using just sunshine and rain.

Ask the Amish.

Tue, 06/12/2012 - 17:21 | Link to Comment LouisDega
LouisDega's picture

Whos Pento.. Isnt that the Peter Schiffs mini me guy?

 

Tue, 06/12/2012 - 17:44 | Link to Comment fonzannoon
fonzannoon's picture

He was. He is gone from there. Seems like an arrogant prick.

Tue, 06/12/2012 - 17:48 | Link to Comment LouisDega
Tue, 06/12/2012 - 17:17 | Link to Comment apberusdisvet
apberusdisvet's picture

CNBC:

Cowering

Naive

Bullshitting

Commentators

 

Tue, 06/12/2012 - 20:48 | Link to Comment CURWAR2012
CURWAR2012's picture

Cunts

Nitwits

Bastards

Commies

 

 

Tue, 06/12/2012 - 17:21 | Link to Comment Skateboarder
Skateboarder's picture

Tyranny makes good propaganda television.

TV rules all.

All obey the TV.

All obey the TV.

Tue, 06/12/2012 - 17:28 | Link to Comment youngman
youngman's picture

great exchange.....no one has been able to convince me why a bank cannot fail.....I see no problem with it....the stockholders can lose money..the bond holders can lose money....true values can return to those entities.....and the Banker can lose their jobs....and others will pick up the cherries....and maybe just then all the casino crap will stop...BUT...they buy politicians..and as long as that is going on..it will never happen

Tue, 06/12/2012 - 17:29 | Link to Comment DavosSherman
DavosSherman's picture

When the truth hits CNBS and it Santelli isn't the lone voice, you know the overtime clock is counting down.  By the time it gets to Cramer the Clowns lips, or Maria Shit for Voice's lips the fat beyotch will be singing.

Tue, 06/12/2012 - 17:38 | Link to Comment Seasmoke
Seasmoke's picture

the fat beyotch will be singing

 

Sue Herera is warming up in the green room

Tue, 06/12/2012 - 17:34 | Link to Comment 1835jackson
1835jackson's picture

Phone call is being made to Rothchilds right now...."THAT CNBC ANCHOR SAID WHAT?!!!!"  

Tue, 06/12/2012 - 17:37 | Link to Comment Bay of Pigs
Bay of Pigs's picture

How can they leave LIESman off this panel?

What a travesty. LOL...

Tue, 06/12/2012 - 17:37 | Link to Comment Seasmoke
Seasmoke's picture

is it actually possible, that Pissani is looking even more feminine

Tue, 06/12/2012 - 21:05 | Link to Comment akak
akak's picture

As we say in Alaska: "Never trust a man without facial hair".

(Nor, I would add, should one trust all of those with it, either --- see Bernanke and Krugman for examples of the latter.)

Tue, 06/12/2012 - 17:38 | Link to Comment monopoly
monopoly's picture

"Let the politicians serve the country for 2 years and then go home". If only.

Tue, 06/12/2012 - 17:41 | Link to Comment rabbitusvomitus
rabbitusvomitus's picture

That's at LEAST the second time today I heard a CNBS piece on some sort of "Gold Backed" solution, IE, Euro bonds backed by Italy's (Spain, France etc.) Gold Reserves.

You know that the defecation is about to hit the rotary ocillator when the MSM Shills on CNBS or BOOMBERG start hawking ANYTHING Gold backed.

After all, aint these the folks that think, right along with the "Orajel of OBamaha" that "Gold is a Relic" more suited to be "sewn in the trousers of a Warsaw Jew circa 1939" ???

Yeah, I thought so! This is getting unF'ng believable.....

Tue, 06/12/2012 - 17:41 | Link to Comment Rainman
Rainman's picture

A truly free market would blow up the public pension funds real good. Po-Po will turn on their masters when pension go poof. The oligarchs all know this.

Next question.

Tue, 06/12/2012 - 18:17 | Link to Comment GernB
GernB's picture

Because public pensions are working so well now :)

Tue, 06/12/2012 - 23:00 | Link to Comment shuckster
shuckster's picture

Public employees are all handsomely rewarded - fear not

Tue, 06/12/2012 - 17:54 | Link to Comment MeBizarro
MeBizarro's picture

Yet another reason why I don't watch Closing Bell on CNBC.  Bloomberg isn't bad but it greatly depends on the guest.  At least they generally avoid this kind of schtick-nonsense. 

Tue, 06/12/2012 - 17:58 | Link to Comment semperfi
semperfi's picture

So far politicians have shown they will do anything to maintain their power.  I do not expect that to end for a long time.  Pretty soon they will start taking political prisoners of those who dissent.  Dissent will not be allowed.  If we the sheeple allow them to get away with it, which I don't see any reason why not, then we (America) will end up like Soviet Russia back in the 1920's & 30's.  History does indeed repeat.

Tue, 06/12/2012 - 18:19 | Link to Comment Cangoroo
Cangoroo's picture

Yep,

 

but you need them., do we?  There are pros and cons. One pro is , these guys give a great punching ball.

Tue, 06/12/2012 - 18:01 | Link to Comment Bartanist
Bartanist's picture

They will probably get their pee pees whacked for that moment of "truth". It is not MSM company policy.

Tue, 06/12/2012 - 18:09 | Link to Comment asteroids
asteroids's picture

Bill Griffeth stikes me as a nice honest guy. Imagine the shit he knows that would cause him to make such a statement.

Tue, 06/12/2012 - 18:19 | Link to Comment kahunabear
kahunabear's picture

What a great freaking question! Why the hell not let free markets work?? That is the bottom line, you're either for free markets or you aren't. ZeroHedge is the last bastion of the free market capitalist world. The rest are all facists, socialists and crony fucking capitalists.

Tue, 06/12/2012 - 18:25 | Link to Comment Cangoroo
Cangoroo's picture

This is true. Why not? Free markets do not work, because the price infomation and warning function of free markets were disrupted by politicians. It always was like it is nowadays going back to the roman empire. Polictics is about distributing and shifting money. That is the deeper meaning of politics.

Wed, 06/13/2012 - 01:40 | Link to Comment Peter K
Peter K's picture

19th/20th/21st Century superstition states that:

When markets fail, we need more government.

When government fails, we need more government.

And it's with this kind of circular logic that we go to this point.

Tue, 06/12/2012 - 18:29 | Link to Comment TWSceptic
TWSceptic's picture

"Free" is the archenemy of the politician. Just imagine something which makes your job completely superfluous. Something which renders your very existence useless. No wonder they hate it.

Tue, 06/12/2012 - 18:29 | Link to Comment post turtle saver
post turtle saver's picture

Focus on Congress and vote the sumbitches out. Any Senate seat in particular that's up for election, turn it over.

Tue, 06/12/2012 - 18:59 | Link to Comment razorthin
razorthin's picture

It is pathetic that there is no principled politician who would remain steadfast against the political grain and keep teaching the public about the virtues free markets (the fact that there never has been one), and the oppression of the poor with monetary inflation and bursting bubbles (see first point).

Those persons should have been the honorable Drs. Paul.  But there is no honor in political posturing.

Liberty lost.

Wed, 06/13/2012 - 01:37 | Link to Comment Peter K
Peter K's picture

There are. And they are right under your nose. All you have to do is look.

But I will give you a hint.

The're called the Tea Party Freshmen. And their party leadership is complaining that these folks have no sense of doing things so that they can get re-elected. :)

Tue, 06/12/2012 - 18:36 | Link to Comment tomAsss
tomAsss's picture

pfffff...

free martket ? you must be kidding me

there is no free market

all we have is controlled market manipulation .

Tue, 06/12/2012 - 18:37 | Link to Comment kill switch
Tue, 06/12/2012 - 19:27 | Link to Comment Big Corked Boots
Tue, 06/12/2012 - 18:46 | Link to Comment q99x2
q99x2's picture

CNBC getting it right on ZH.

Something doesn't seem right.

Check the parallel universe leakage gauge.

Tue, 06/12/2012 - 19:00 | Link to Comment rsnoble
rsnoble's picture

Fuck US Politicians raw! As far as im concerned every fucking one of them....including the Pauls......should be loaded onto a giant spaceship and shot straight into the sun.

Look at Detroit.......huge shithole and here's this bitch dressed like a million bux in an office that looks like a goddamn museum talking about her $550million poor people transport system so you can get from end of the shitpit to the other in record time.

Outlaw property taxes now and let's put a crimp in their style. There has to be a better way.

Tue, 06/12/2012 - 19:12 | Link to Comment razorthin
razorthin's picture

The obvious answer is -

Do it immediately at the beginning of your term.

Your court, Mittens.

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