Rolling Stone.......(They get it)

[Mega]

http://www.rollingstone.com/politics...big_takeover/1

I thought Rolling stone had gone over to "The Man"...........may be not!

Mike

[due_indigence]

Re: Rolling Stone.......(They get it)

It's not like we haven't been warned. From Ezra Pound to Eustace Mullins to J. Edward Griffin's "The Creature of Jekyll Island". It's an international banking cartel. The Fed is its surrogate. Congress is its lackey. That's why I've been trading in and out of FAS the last couple of weeks. The banks are going to win. They can't lose. They're gonna buy us all back at distressed prices --and with our own money. Then we'll start over.

"None other than disgraced senator Ted Stevens was the poor sap who made the unpleasant discovery that if Congress didn't like the Fed handing trillions of dollars to banks without any oversight, Congress could apparently go fuck itself — or so said the law. When Stevens asked the GAO about what authority Congress has to monitor the Fed, he got back a letter citing an obscure statute that nobody had ever heard of before: the Accounting and Auditing Act of 1950. The relevant section, 31 USC 714(b), dictated that congressional audits of the Federal Reserve may not include "deliberations, decisions and actions on monetary policy matters." The exemption, as Foss notes, "basically includes everything." According to the law, in other words, the Fed simply cannot be audited by Congress. Or by anyone else, for that matter."

[vanvaley1]

Re: Rolling Stone.......(They get it)

It's not like we haven't been warned. From Ezra Pound to Eustace Mullins to J. Edward Griffin's "The Creature of Jekyll Island". It's an international banking cartel. The Fed is its surrogate. Congress is its lackey. That's why I've been trading in and out of FAS the last couple of weeks. The banks are going to win. They can't lose. They're gonna buy us all back at distressed prices --and with our own money. Then we'll start over.

"None other than disgraced senator Ted Stevens was the poor sap who made the unpleasant discovery that if Congress didn't like the Fed handing trillions of dollars to banks without any oversight, Congress could apparently go fuck itself — or so said the law. When Stevens asked the GAO about what authority Congress has to monitor the Fed, he got back a letter citing an obscure statute that nobody had ever heard of before: the Accounting and Auditing Act of 1950. The relevant section, 31 USC 714(b), dictated that congressional audits of the Federal Reserve may not include "deliberations, decisions and actions on monetary policy matters." The exemption, as Foss notes, "basically includes everything." According to the law, in other words, the Fed simply cannot be audited by Congress. Or by anyone else, for that matter."

Suspect that somewhere in the heavenly tomes there's an equivalent clause for god?

[cjppjc]

This is all for the good don't you see

The people who have spent their lives cloistered in this Wall Street community aren't much for sharing information with the great unwashed. Because all of this shit is complicated, because most of us mortals don't know what the hell LIBOR is or how a REIT works or how to use the word "zero coupon bond" in a sentence without sounding stupid — well, then, the people who do speak this idiotic language cannot under any circumstances be bothered to explain it to us and instead spend a lot of time rolling their eyes and asking us to trust them.

Actually, come to think of it, why are we even giving taxpayer money to you people? Why are we not throwing your ass in jail instead?"

But before you even finish saying that, they're rolling their eyes, because You Don't Get It. These people were never about anything except turning money into money, in order to get more money; valueswise they're on par with crack addicts, or obsessive sexual deviants who burgle homes to steal panties. Yet these are the people in whose hands our entire political future now rests.

[bpr]

Re: This is all for the good don't you see

But before you even finish saying that, they're rolling their eyes, because You Don't Get It. These people were never about anything except turning money into money, in order to get more money; valueswise they're on par with crack addicts, or obsessive sexual deviants who burgle homes to steal panties. Yet these are the people in whose hands our entire political future now rests.

This is the thing that makes it so difficult.

There is such entitlement with this crowd that they really believe the world revolves because of the important work they do. Back in 2007 I had an astounding conversation with a former Citi employee that opened a company that bundled CDOs for banks, determining the value and ratings on a contract basis. When I started talking about housing being over priced and shorting real estate, he said, "Go read Adam Smith, then come back to me" and ended the conversation like that.

I also know of a lawyer for Lehman who blames the entire crisis on the federal government for not bailing out Lehman. Their work is so important, the argument goes, that nothing else can go on without them.

And they really believe this stuff.

[vanvaley1]

Re: This is all for the good don't you see

The people who have spent their lives cloistered in this Wall Street community aren't much for sharing information with the great unwashed. Because all of this shit is complicated, because most of us mortals don't know what the hell LIBOR is or how a REIT works or how to use the word "zero coupon bond" in a sentence without sounding stupid — well, then, the people who do speak this idiotic language cannot under any circumstances be bothered to explain it to us and instead spend a lot of time rolling their eyes and asking us to trust them.

Actually, come to think of it, why are we even giving taxpayer money to you people? Why are we not throwing your ass in jail instead?"

But before you even finish saying that, they're rolling their eyes, because You Don't Get It. These people were never about anything except turning money into money, in order to get more money; valueswise they're on par with crack addicts, or obsessive sexual deviants who burgle homes to steal panties. Yet these are the people in whose hands our entire political future now rests.

And all this time I thought those Wall Street folks were against entitlements. Wonder if the panty bandit figures his raids were justifiable entitlements too? Brings a whole new definition to the term entitlements.