Redline Doc

Jun 22, 2011 - 3 minute read - I never saw THAT coming

Pish tosh

Ahh my faith in the society of robber barons is renewed! On the news: A fine of 156 million is levied for stealing. No jail. No restrictions just the fine at 1% of last years net.  Wow! The cost of doing business.

I’m not dismayed anymore. I’m sad. I’m sure I’m not alone. The weasels are in the hen house and have eaten all the chickens and wonder why there are no eggs.

More interesting than the fine is the underlying lie. The company, and apparently the big five are all involved, took money from investors, short sold the investment (this means they bet AGAINST the investor making money), told them how wonderful the packaged securities were and then laughed at them for their folly.

Ho Humm. Business lying as usual. Whats the news here?  We’ve suspected for some time that the SEC (Securities and Exchange Commission) was bought and paid for, but now having raped the American economy and managing to blame the poor outcome on the suckers who bought into their racetrack scheme, the government fails to even slow down this juggernaut.

I agree with comedian Lewis Black who said “You should expect of your leaders what you expect of an experienced canoe guide.  We’re going down that fork in the river and not the other because down there there’s a *#$(* waterfall!!”  What we have are disneyesque leaders pushing us off the cliff like lemmings, to make a ‘good show’.  We should preserve the banks because they’re our salvation. HAH.

I watch, from the poorest census district in the United States, not 40 miles from nearly the richest, with the realization that we have always blamed the poor for our outcomes. They’re the ones who did this. They created the financial collapse, not the liars at the banks, not the conniving realtors who sold properties they knew would never be repaid, nor the investment banks which rolled all this compost into securities, laughing at the unicorns and morons that would buy such stuff that they themselves had bet against! Imagine that.  An so they have left a trail of devastation and destruction that will take years, if ever to recover from. The folks, trusting their employers to look after them had very low social security payouts but good supplemental income from investments made by their employers – now all vanished at the racetracks of the banking world.

“It was the best of times, it was the worst of times; it ws the age of wisdom, it was the age of foolishness; it was the epoch of belief, it was the epoch of incredulity; it was the season of Light, it was the season of Darkness; it was the spring of hope, it was the winter of despair; we had everything before us, we had nothing before us; we were all going directly to Heaven, we were all going the other way.” I’d hope there would be some public outcry, anger at the blood in the streets. How Dickensian this has all become.