The Financial Melt Down. Like LUCY, Wall Street AND Capitol Hill Have Some Explaining To Do
Read more articles on Finance and Politics and The Thoughts Of A Writer In New York City and Law and Legal Issues.November 17, 2009
Posted by neillevine
November 17, 2009
Posted by neillevine
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In light of the Wall Street meltdown, new regulatory legislation is being proposed.
I want to offer the following helpful suggestions that I believe will help prevent such economic meltdowns from happening in the future.
Why not ask Barry Barack Hussein Obama, Nancy Pelosi and Charlie Rangel to invest in those wonderful derivatives that politicians seem to believe are so essential on Wall Street with Maxine Waters picking the winners, Charlie Rangel handling details and Speaker Pelosi providing legal services. That should put the value of investing in such worthwhile vehicles in perspective. Of course, anyone with relevant questions would have to be referred to Whip James Clyburn. Why settle for shallow thinking. Why not insist on the actions that speak louder than hollow words.
Better yet, perhaps the public is entitled to a full explanation of what went wrong, who was responsible, who did what, when and why and what should be done to prevent such debacles in the future. This should be very, very educational. Surely, if any of the above politicians think derivatives are worthwhile, they should put their money where their mouths are. After all, this is what Speaker Pelosi has said she has done with alternative energy, a field I view as a patronage swamp. Certainly, I feel it is proper to wonder if there is a reasonable explanation for all the folderall and political chicanery that has transpired thus far. I am eagerly waiting for this one.
Here is their chance to show everyone that the streets are paved with gold, a phenomenon all investors view with awe. It is also an opportunity to spread the wealth on thick and curry favor with the public. Look at all the political favors curried by politicians from the now failed subprime and derivative firms. It sort of makes you wonder if Washington politicians believe in informed consent in any way, shape or form. Why pass on a gilt edged opportunity to let the voters know what is really going on. Barry Barack, tell me true, what really went wrong and how do we avoid such debacles in the future. I hope my good readers are aware that this is a good one. Let us laugh and move on to deeper issues.
I would also like to point out that Barry Barack Hussein Obama is the very same fellow who was in a big rush to stimulate the national economy, borrowed heavily to do so and has seen people continue to lose jobs despite his best efforts. I still think there are huge flaws in his financial analysis. Yet he seems unaware and unable to fix what is wrong. Perhaps we need a fuller explanation with detailed analysis of all the mistakes being made in Washington these days.
Of course, New Yorkers have to endure the spectacle of former Governor Eliot Spitzer, having failed miserably at giving away the family fortune and relieving national distress, giving a lecture on ethics at prestigious Harvard, no less. No one has actually claimed responsibility for this affront to a thinking man’s decency but you never know. Personally, I am waiting for the investigation into Mr. Spitzer’s lack of cooperation with a duly constituted grand jury and misuse of state troopers to be concluded and offer final conclusions to the public, although I am also not holding my breath.
Perhaps Bernie Madoff service’s can be put to good use here. Certainly, he should have valuable observations into financial chicanery and ethical lapses. Wouldn’t what he has to say on such topics be fascinating. Considering his background, I am sure he would have unique insights into what should and should not be done. A few pointed questions would certainly help the public grasp what is going on.
What better person that a well known expert in financial chicanery to examine and explain all the mistakes made in Washington and Wall Street that added fuel to the serious meltdown. Considering his great skill in making money disappear, I am sure good old Bernie will have some detailed and insightful comments to offer, all the government has to do is ask.
Finally, trying the captured jihadists here in New York ignores the fact there are still too many terrorists loose and on the prowl looking to commit murder and mayhem for anyone to believe that this country is safe. Media accounts misstating Khalid Shaikh Mohammed’s importance in the attack on the Twin Towers are not reassuring. He did not provide financing. He did not provide infrastructure, cover, overall organization. He was not the muscle, the grand philosophe and he did not act alone.
Where are the other jihadist in arms. Why isn’t there hot pursuit for their scalps.
I believe there will be no end to the alleged terror until all the militants are brought to American justice, one way or the other. This is what the good folks in Washington should be telling the voters, hands down, no doubt about it.
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