Root cause of the financial meltdown

That would be the Greenspan Put. Can you say moral hazard boys and girls?

Wall Streeters figured out that they could go balls to the wall in regard to risk, because the dessicated and decrepit fraudster would always bail their ass out. So your investments, your retirement funds, your personal wealth, which was nothing more to the pirates than OPM (“other peoples money”) could be gambled and they would “earn” handsome commissions- whether you made gains or not.

Fraudsters like Madoff, Stanford, etc. could thrive and multiply because they could rely on protective coloration by hiding amongst the hedgehogs in plain sight.

When the American public finally awakes and realizes that they’ve been had, that their pensions funds have been trifled with inside help, and this most recent boom/bust cycle was clear evidence of the practice of crony capitalism at it’s most efficient, maybe they’ll decide, like I did, that they need to fight the power. The first place to start is cut up the credit cards (or freeze one in a block of ice J.I.C.), become a saver, and begin live within one’s means. Then begin to educmacate oneself about what really happened.

Then watch out, because when there is no recovery a whole lot of people are really going to be pissed.

They thought they elected Obama to fix things. Oh yeah, he is really fixing things. By keeping the same people, who were responsible for the entire mess in the first place, in positions of decision-making. And as you can see, if you’re paying attention, the Fed., Inc. is printing money (“devaluing the currency”) with the left flank, as the (not ‘your’ any longer) gummint is stealing from your future to prop up their peeps (“cronies”) with the right flank. This all comes AT YOUR EXPENSE and because the invoice hasn’t yet come in the mail, most of you HAVE NO FREAKIN’ IDEA of the size of it.

I haven’t even touched on the naked power grab by the Feds over states now they are vulnerable (and unable to print money), the abrogation of the Constitution, and the complete disinterest by the Obamanation in reforming the financial markets.

Never. Gunna. Happen.

“Sub-prime is contained” -Benron Bukkake, 2007


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