G 20 Peru meeting financial coverup/bailout continues
There was a photoop showing Bush shaking hands in a poncho with the Asian leaders and then some twaddle about free markets and no tariffs and continuation of all those great policies that led directly into this mess.
The big one being the Ponzi scheme of unregulated
"new financial instruments" which were bad loans wrapped deceptively into CDO/CDS and sold off to European and Asian banks and other investors that helped bring this crisis to the enormity it is now.
They trusted the American banking system. They didn't realize how big thieves Bush, Gramm and other republicans of the modern parasitic/vampire era are. They allowed every scammer domestic and foreign a free hand and protection. For a price.
Notice there was nothing said by Bush that these scams his administration blessed are to be rectified or the buyers are to be compensated in any way?
That would imply the banks did something wrong or restitution is due.
His team, as is his cronies, are in denial mode all the way.
Nice "conversation starter".
Check out this piece I read today:
Why the Rich Get Richer
Eve of Destruction: How the Financial Crisis Was Built Into the System
Blame Bush for all the putrid mess in Iraq and many other things, but the blame for our finances and economy lies left and right and the roots go back way before Bush.
How much does spending 10 gazillion dollars a month in Iraq contribute to people not being able to buy anything?
I used to think the war and social spending were expensive and that the deficit was large...now all that seems a paltry sum in relation to the numbers tossed around for TARPing our distressed selves. A Trillion Dollars just isn't what it used to be. Fvck it, it is all Monopoly money now.
And, from what I have heard Obama say thus far, I think he will come up with some short term feel-good programs that will band-aid the problem and move it down the road another year or years. But, he is bringing in people that are of the same economic mentality as what is there currently (hence Wall Street's approval)...and credit and inflationary monetary policies will still be the rule.
I won't argue with that.
I would argue that the American people wouldn't have elected a President who would have done anything different.
We're like the abused spouse, married to unrestrained capitalism even as it beats us to death.
We won't leave it because "we love it".
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