dagblog - Comments for "Operation Broken Trust: Such An Apt Name"

LOL! You kinda skirt around

we are stardust — Sat, 11 Dec 2010 02:21:37 +0000

In reply to Are we supposed to think that

LOL! You kinda skirt around all the fraud that caused the housing bubble, don't you? And the clouded MERS mortgages that are tanking housing prices again? Unless the rules are changed, regulators empowered, and fraudsters prosecuted to the full extent of the law, there won't be any confidence rebuilt in the system.

They may be shrewd, but not necessarily smart, those hedge-funders and casino gamblers, Flavius. ;o) And many have already found their ways around the minimal fin-reg rules that the White House allowed to be enacted.

You may not have noticed how neo-Liberal economics sorta ran with those self-regulating market ideas, but it's time to reign them in. And this administration was all down with 'enforcing regulatory laws that already exist. This is a sham, a pretense; a cynical ploy to pretend that Wall Street will quake at our rigorous attempts to hold Wall Atreet fraudsters accountable. Phooey; Obama is interested in protecting the banks and the big corporations. God save us all.

But you're right: There is no Invisble Hand, and can we let go of freaking Adam Smith, who essentiall protected the aristocracy for capitalism?

We might not agree with Cohan

we are stardust — Sat, 11 Dec 2010 02:03:15 +0000

In reply to William Cohan, the reporter,

We might not agree with Cohan altogether on some issues, but this is a pretty fun fix, all right, NCD.

Main problem with the losing trust piece is that so many people haven't a clue about what's going on. Have any idea how many newspapers, for instance, are playing it straight on Broken Trust and 'insider trading investigations'? Waaay too many, and they don't do follow-up, so it sounds good---and tough; 'New Sheriff in Town' crapola.. I don't guess I think the Obama base has quite broken yet myself, but Lord love a duck, there are two more years to go. What else can he needlessly negotiate away?

But we'll see his approval ratings haven't moved much for now. Hmmm. All we can do for now is be active in the ways we can, and see what percolates, I guess. Bernie may have juiced up things a bit, anyway. Goddam dear Socialist! Keep the faith, brother; we gotta keep each other going.

Are we supposed to think that

Flavius — Sat, 11 Dec 2010 02:02:53 +0000

In reply to Operation Broken Trust: Such An Apt Name

Are we supposed to think that nobody did anything wrong?

No. Some one is doing something wrong all the time on Wall Street. When the market's going up, down or flat. So of course we should think that somebody was doing something wrong .But that doesn't mean that's what caused the financial crisis. Nor that prosecuting them will either fix the current financial crisis or prevent the next one.

There are very smart people on either side of every major financial transaction. If one side were actually doing anything illegal the other side would be a lot better equipped to detect that than the SEC or the DOJ . And to call in the cops. (unless they could somehow make some money from not calling them in.)

Our problem is not Wall St, crooks acting individually or in a conspiracy. It's generation after generation of honest conservative academics who preach the supposed virtues of the self - regulating market.

Which only exists in their imagination..

William Cohan, the reporter,

NCD — Sat, 11 Dec 2010 01:37:42 +0000

In reply to Operation Broken Trust: Such An Apt Name

William Cohan, the reporter, former Wall Street investor and NYT columnist said the way to stop fraud on Wall Street with one regulation is each firm's top 100 exec's in pay must collateralize their entire net worth in a CDO, and if the firm goes under these CDO's get collected on first and foremost, and the executives are wiped out, before the stockholders or bond holders.

The only broken trust there is is the broken trust of the Obama base for Obama, and you could throw Holder in too. Once you lose trust, you never get it back.

Thanks, kgb. I put up that

we are stardust — Fri, 10 Dec 2010 21:27:27 +0000

In reply to Somewhat related ... not

Thanks, kgb. I put up that video on somebody's blog in which he said he'd do 'anything' to block the damned bill! He never said 'Yes' when he was asked directly about filibustering, but that dear old wag!

We won't need to wake you

we are stardust — Fri, 10 Dec 2010 21:24:54 +0000

In reply to Justice just rolled all of

We won't need to wake you up; nobody's going to jail this time. Even insider-trading is small potatoes compared to the massive fraud committed on the Americans and the world,

SIDESHOW!

SSSSSsssssshhhhhhhhhhhhh!!!

SleepinJeezus — Fri, 10 Dec 2010 20:32:59 +0000

In reply to "Citigroup Hires Peter

SSSSSsssssshhhhhhhhhhhhh!!! He's actually a plant, working for Holder's DOJ. It's a "continuing investigation," you see. The investigation ain't scheduled to end until about the time Holder becomes VP at Goldman Sachs.

Justice just rolled all of

Michael Maiello — Fri, 10 Dec 2010 20:29:52 +0000

In reply to Operation Broken Trust: Such An Apt Name

Justice just rolled all of its usual investigations into penny ante ponzi schemes together and called it an operation. Wake me up when some indictments come down from the insider trading investigation. Though I'm not holding my breath, insider trading is tough to prove and everybody learned from Martha that when the FBI asks you questions it's best just not to answer.

Somewhat related ... not

kgb999 — Fri, 10 Dec 2010 20:03:18 +0000

In reply to Operation Broken Trust: Such An Apt Name

Somewhat related ... not entirely sure how this works ... but I think Bernie Sanders is doing a filibuster over the tax agreement. He's been talking forever and keeps referring to things with a "I'll get more into that later".

His speechifying is great ... he's nailing fact after fact. On c-span

"Citigroup Hires Peter

we are stardust — Fri, 10 Dec 2010 19:10:50 +0000

In reply to Operation Broken Trust: Such An Apt Name

"Citigroup Hires Peter Orszag, Former OMB Chief"

http://www.huffingtonpost.com/2010/12/10/ciitgroup-hires-peter-ors_n_794880.html

Ha Ha Ha!