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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
 Posted - 03/28/2009 : 17:14:06
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This guys not kidding....
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Gets a little slow in the middle, but listen to what Keiser has to say starting at about 6:10 re Goldman Sachs, aka our government. If it is true, then yes, heads must roll.
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"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 03/29/2009 : 15:55:36
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| The guys seems dangerous to me. He is very good at stating supposition as fact. Just because certain federal officials have connections with GS or JPM does not automatically mean that they are controlled by these companies. I agree that these companies may have undue influence over federal policy (which should be investigated), but Keiser treats it as a forgone conclusion. Are these companies trying to work our current system to their advantage? They probably are. But lets keep in mind that the fiat system in question has been in place for decades and was created by government policy. Also we can't ignore the Community Re-investment Act's role in this. The fact that Keiser does not even mention CRA makes me distrust him all the more. Keep in mind that the Government forced these sub-prime loans into the system and then allowed their true risk to be misrepresented. Yes, some of these companies behaved badly, but why should we be surprised when the government employs a set of policies that rewards bad behavior? |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 03/29/2009 : 19:40:42
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quote:
Originally posted by theo
The guys seems dangerous to me. He is very good at stating supposition as fact. Just because certain federal officials have connections with GS or JPM does not automatically mean that they are controlled by these companies. I agree that these companies may have undue influence over federal policy (which should be investigated), but Keiser treats it as a forgone conclusion. Are these companies trying to work our current system to their advantage? They probably are. But lets keep in mind that the fiat system in question has been in place for decades and was created by government policy. Also we can't ignore the Community Re-investment Act's role in this. The fact that Keiser does not even mention CRA makes me distrust him all the more. Keep in mind that the Government forced these sub-prime loans into the system and then allowed their true risk to be misrepresented. Yes, some of these companies behaved badly, but why should we be surprised when the government employs a set of policies that rewards bad behavior?
Agreed, the CRA played a large role in creating this mess, yet Dodd and Fwank are still sitting congressmen, and worse yet, they get to grill the banksters while puttin on the high and mighty act.
As for the GS US gov. connection, ask yourself, why would Paulson, Corzine and their ilk leave jobs paying multi-millions of dollars for gov. jobs that pay a couple hundred thousand? Civic duty? Don't make me laugh.
Who would you suggest we get to investigate the situation? The SEC that let Ole' Bernie swindle investors out of $50B? Perhaps a special committee of congress, at the cost of $10B make that $10 Trillion, and over the course of 20 years, can compile a 5,000 page report full of nothing, sort of like the 9-11 report on steriods.
95% + of congress should be taken out and shot for thier treachery, and the other 5% who are screaming bloody murder can't BUY time on the Tee-Vee, or in print to get the message out.
We are in a mess....
Rant concluded, thank you for your patience..
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"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 03/30/2009 : 00:34:48
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I don't believe anybody should be shot. As for Frank and Dodd and their ilk, I would like them to spend 10 to 20 years in prison. I would also seize all of the assets these individuals obtained during their time in government (houses, cars, investments etc) claiming that they were received them in furtherance of a crime. Finally I would prohibit them from getting any job connected with the federal government (lobbyist, consultant etc). In other words I would make it so that when they left prison they would have to live life as ordinary citizens. Given how power hungry some of these people are this could actually be a fate worse than death.
As for the Goldman Sachs conspiracy, I'm not clear how they benefited from their people getting into government. I believe GS has lost about 40% of their stock price; and at one point it was off close to 70%. If they have these government officials in their pocket, shouldn't they be able to avoid getting soaked themselves?
Finally, why would Paulson and others leave 7 figure salaries to work for the government?
1. They like the power.
2. Having a high profile government job might force a pay cut now, but it virtually guarantees a high paying lobbyist or consulting once they leave the government.
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 03/31/2009 : 19:05:43
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quote:
Originally posted by theo
quote:
I don't believe anybody should be shot. As for Frank and Dodd and their ilk, I would like them to spend 10 to 20 years in prison. I would also seize all of the assets these individuals obtained during their time in government (houses, cars, investments etc) claiming that they were received them in furtherance of a crime. Finally I would prohibit them from getting any job connected with the federal government (lobbyist, consultant etc). In other words I would make it so that when they left prison they would have to live life as ordinary citizens. Given how power hungry some of these people are this could actually be a fate worse than death.
As for the Goldman Sachs conspiracy, I'm not clear how they benefited from their people getting into government. I believe GS has lost about 40% of their stock price; and at one point it was off close to 70%. If they have these government officials in their pocket, shouldn't they be able to avoid getting soaked themselves?
Lehman Bros, gone. Merrill Lynch, gone, many others, gone. Taking out the competition is always helpful.
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Finally, why would Paulson and others leave 7 figure salaries to work for the government?
1. They like the power.
2. Having a high profile government job might force a pay cut now, but it virtually guarantees a high paying lobbyist or consulting once they leave the government.
Good points. And of course (in their minds anyway), money is power.
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"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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Decapitate the bankers? WOW..
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