Yesterday, I wrote about the segment on 60 Minutes Sunday night that dealt with the topic of credit default swaps. Later Monday I drove to Detroit and back on a little family business. They sure have nice freeways into Detroit (I-75). The quality of the pavement is excellent in my opinion. Nothing like the Third World drive on I-75 into downtown Cincinnati. There are so many speed bumps where there should not be any, on a expressway that permits you to drive at 55 mph, you have to wonder, what do we have to do to get competent politicians that give us the most bang for our bucks? And, a mayor that can hit the side of a barn with a baseball from 60 feet?
I know I have mentioned this before, but when I had a lot of time to think yesterday while driving for 10 hours, I could not help but think about the number of people hurt by the change in legislation that permits so few to make so much money from credit default swaps. Yes, it was legalized gambling. Where were the politicians that are suppose to think before they vote? Where are our leaders before they put forward such nonsense? Alan Greenspan is an idiot, and after he is dead, I am sure there will be people that will write that, if not sooner. His testimony before Henry Waxman's House committee was feeble!!! This idiot ran the Federal Reserve Bank, and everyone thought he was so smart. Well, we now see how smart he was.
As I said, I can not stop thinking about the millions of people that were hurt as a result of the financial crisis, and for what? So a very very few could make the big bucks. That is how you run a country? Sacrifice the many for the few? Reagan, the Bushes and Clinton each had a hand in taking apart the protections that were put in place to protect the many hard working people from abuse. Now I know why they are always smiling, they screwed us royally!!!
Stay Tuned.
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3 comments:
Yep! Sure did!
One of the talking heads on that segment said that some of the Wall Street winners took home A BILLION DOLLARS EACH!
Is that not TOTALLY OBSCENE?? Hard-working, honest, tax-paying Americans were trampled like blossoms in the dust of their greed.
And we didn't even get a kiss!
Summer
That's not quite the same as being screwed BY royalty, is it?
Yes, being screwed by your own government is totally obscene, or, should I say being put into the position so we can be screwed over by Wall Street is totally obscene. But, how many people even realize what we are talking about? The politicians are safe because there are too few that understand what really happened, and how Congress had a big hand in it.
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