A Gun at Our Heads

[yeahwho]

Nobel Prize winning economist Joseph Stiglitz gives an excellent relatively short explanation of the how and why we are currently into this gigantic economical failure. I found his candor and simple answers to be spot on.

If you have a spare 6+ minutes give this video a watch (http://www.pbs.org/now/shows/446/video-webex.html). It is from the PBS show NOW (http://www.pbs.org/now/).

The one thing I've had a hard time wrapping my brain around is how these major financial institutions could of so inexplicably fuck up our countries financial foundation and our own lives. These corporations and banking institutions hang out at MIT, Yale, Harvard, Oxford, et;al looking for the brightest financial minds to solve problems to make profits for themselves, it's impossible to believe they were so naive that they didn't know this whole structure could collapse. Anyway Stiglitz sort of puts it in perspective. you'll be even more outraged thatn before, but at least you'll be armed with a pretty accurate portrayal of our current situation.

Check it out.

[kaiser soze]

What is even more baffling are the huge severance packages and bonuses these people get for FAILING. This is the good ol' boys club taking care of it's own...period. People are paid massive sums to leave or are hired by another corporation after crashing another.

If profits aren't easy to get, steal.

[yeahwho]

It is my view, along with many others, the first genuine disappointment with Obama that Joseph Stiglitz is not being offered any position within the Obama economic team,

Most pundits have pretty much gone ga-ga over your economic team: The brilliant Larry Summers as head of your National Economic Council. The judicious Tim Geithner as Treasury secretary. The august Paul Volcker as chair of the newly formed Economic Recovery Advisory Board. But lost amid the cascades of ticker tape is the fact that, astonishingly, you didn't hire the one expert who's been right about the financial crisis all along—and whose Nobel Prize-winning ideas will probably be most central to fixing the global economy.

From Newsweek Magazine (http://www.newsweek.com/id/172092)

I still have not heard a better analogy or explanation of this bailout than his, especially the first 10 seconds of that NOW video.

"They come to the American people with a gun at our heads"

[D_Raay]

steal.

And that, in a nutshell, is really what this is all about. They all knew that with the Bush administration that it was "no holds barred" so they took risks to increase their wealth and were blinded by their own greed. It may have occurred to them that regulation actually had a purpose and was beneficial to them in the long run, but hey when you give a dog a big bone he's gonna run and bury it.

[yeahwho]

Heres a couple of YTMND's on the ballsout

bailout stats (http://bailoutstats.ytmnd.com/)

Bernanke Saves Wall Street (http://whodoyoutrust.ytmnd.com/)

[kaiser soze]

Check out this fuckface

http://www.cnbc.com/id/28107594

Merrill Lynch Chief Executive John Thain has suggested to directors that he get a 2008 bonus of as much as $10 million, but the battered company's compensation committee is resisting his request, the Wall Street Journal said, citing people familiar with the situation.

Wouldn't it be wise to see WHY Merrill Lynch was sold to Bank of America? Maybe he FAILED rather than Succeeded?

And while this greedy piece of shit demands more money, Merrill Lynch is laying off it's workers. Why is it that a few are Demanding and Getting the Millions while they can't even keep employees or their businesses afloat?

http://www.cnbc.com/id/15840232?play=1&video=946304857&__source=yahoo|headline|quote|video|&par=yahoo

http://www.fiercefinance.com/story/big-layoffs-coming-merrill-lynch/2008-12-01

The investment banking staff collectively totals about 50,000. CNBC says to expect cuts of about 10,000 in the investment banking staffs. These cuts will begin soon, at least before the end of the year.

Thieves and Liars

Why I oughta!

:mad: