BUSH II: The Gateway of Socialistc Capitalism in America
Its sadly ironic in a way......
http://news.yahoo.com/s/csm/20081023/cm_csm/ymicciche
Well, the last two weeks have been a real eye opener for the country at large considering a contentious election and an ineffectual, corrupt and self-interested Congress…..our “representatives”. I’m just glad are the riders on the current clown car are revealing their true faces at last, albeit public, private or corporate!
Paulson takes the cake though. In 2006 he’s the CEO of Goldman Sachs, pulling in 163 million in salary, bonuses and stock, all mostly due to his own spearheading of his companiy’s deep investment in risky “creative” mortgages, derivatives and repackaging shakey lender loans as AAA ratesd real estate bonds. 20 billion dollars worth sold to investors worldwide, most of which are currently causing our economic crisis.
In 2008 he is in good company as Federal Reserve Chairman. His old crornies from Goldman Sachs currently remain on his staff, so much so that its nicknamed “the Goldman Sachs Posse”. Neat trick. He’s a significant factor in reating this problem 2 years ago but this year he is on the other side of the fence “fixing” it for his corporate buddies and saving the value of his own shares.
Am I the only one shaking my head in wonder at the absolute depths of extremely poor leadership we the taxpayers get out of DC these days? Is anyone else astounded that our national debt has tripled since 2000 to just of 15 trillion dollars? Weren’t we paying that off in 1999 with a surplus?
These days, I have faith in democracy, but no faith in the Democratic or Republican parties. I’ve long viewed the Liberal and Conservative movements with the disdain I nominally reserve for all extremist political agendas with miniscule practical application for the majority of the electorate or the country as a whole. And our recent experiement in Laissez Fair regulation….well, I think a staunch supply side economists like Alan Greenspan put it best yesterday when he told Congress that never in his wildest dreams did he think that corporate America would be this irresponsible….
Obviously, he has never been downsized, managed down, offshored, mergered or lateral oppurtunitied out of a job like the rest of us. A toothless, out of touch ideologue and academic, formerly a lion but sadly out of touch with the reality th erest of us live everyday, a theorist bereft of relevancy.....glue factory material.
So much for our latest “economic revolution”. It only succeeded in making the federal government a major shareholder in a wide variety of “resued” banks and insurance companies, ushering in a new era of socialistic capitalism such as is common in Europe these days.
And maybe that is the best epitath fro the Bush II legacy in its remaining twilight hours. But the curtain has yeet to rise. The orchestra is only warming up in the pit....I wonder what people thought the 20th century would be like in 1908, with Europe covered in empires, the worlds oceans covered in thier massive fleets and the skies beginning to hear the drone of areoplanes.
Bet they never saw trenchs, a grest depression, an Austrian corporal with afunny mustache or a fiery mushroom in the sky. OTOH, who could have guessed hat in 60 years man would be walking on the moon or flying ditances worldwide in hours that took weeks in 1908 or eradicating deseases that ravaged populations unchecked?
Its always a mixed bag, like haloween candy!