Wednesday, March 24, 2010

Tear Down This Wall

I was going to make this a quick one today.

Watch this video:

"Why Aren't These Guys In Handcuffs Yet?"

Since we are now fast approaching the 2 year mark of the official Nov. 2008 election results when the much-touted transition team were being fully debriefed in preparation for taking over the White House, I'm quite surprised that the super-majority (read all-powerful) Democrats have built so many walls behind which to hide the ugly truth of the financial mess they kept using as their "blame the previous administration" excuse gavel in order to "pound" their way through their first year.

It's year 2 now...

Democrats have used the "previous administration" excuse and the "financial crisis" excuse: to cram through a $410 Billion omnibus budget, to dump a MASSIVE $787 Billion dollar stimulus (read - stimulack) Bill on our backs (which has grown since then), to drive up our debt ceiling several trillion dollars, to jam thru a heavily flawed Health Care Pill... errrr, Bill... using deceptive reconciliation rules in order to avoid a true debate following the shout that came from Massachusetts voters... a Bill which, in my very humble opinion, will drive up our deficits trillions more while completely collapsing both Medicare and Social Security (regardless what they claim to the contrary)... etc., etc., etc.

...and yet... we are...

...nearly 2 years later...

And no one is behind bars yet?

Even worse -- no one knows for certain how many other banks out there were using the same deceptive -- read: illegal -- accounting practices? Well... maybe Larry Summers knows, maybe Paul Volker knows,  maybe Hank Paulson knows, maybe Gheitner knows, maybe Bernanke knows ...and just maybe even Barney Frank (among others in the current Admin) knows... ...but the taxpayers who had to foot the bill to save all their asses... what do we know?

In the very beginning... even before... this new Democrat era, I recall how quick the new Administration was to demonize Wall Street Fat Cats, Fannie/Freddie and AIG... remember? Here are a couple quotes to help refresh your memory:

"Tomorrow you can turn the page on policies that put the greed and irresponsibility of Wall Street before the hard work and sacrifice of men and women all across main street." (President Elect Brack Obama - Nov. 3, 2008)

"Let us remember that if this financial crisis taught us anything, it's that we cannot have a thriving Wall Street while Main Street suffers." (President Elect Barack Obama Nov. 4, 2008)

Bottom line, the accounting "shell games" played by Lehman were illegal.

Plain and simple.

The individuals playing the game could have been stopped and put behind bars at any time.

Truth is, there are plenty of regulations at the SEC and Fed's disposal that could have been enforced to reign in the mess, and plenty of things that could have been done to STOP the Fannie/Freddie catastrophe for which we're still paying (and Dems are hiding, deliberately keeping $1.6 Trillion dollars OFF the books and OUT of the Budget) ...the repeated cries for clampdowns rang out (from Republicans)... but were ignored (by Democrats)... even deliberately shoved aside by House Democrats in power at the time, as this unforgettable video clearly reveals when an investigation was requested by Republicans:

Fannie/Freddie were practically the biggest crime of the whole mess IMHO, and a close look at the timeline shows the callous disregard by Barney Frank in this video.

And I quote from Barney Frank himself the part where he says with respect to Fannie and Freddie: "I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios; even if there were a problem, the Federal Government doesn't bail them out."


What about the Housing Bubble? Here's another priceless video starring Barney Frank.

And what about the $90 Million in bonus money that Franklin Raines walked away with while he practically "cooked the books" for Fannie and Freddie? He gets promoted to a position on the Obama staff instead of penalized for being a party to the entire mess??
The way I see it, Republicans have been trying for years to reign in Freddie and Fannie. Democrats have been blocking Republicans from doing anything about it for years.

Think about this...

In the Enron accounting scandals, people went to jail. Accounting firms were held accountable. Justice was served on people who broke the law.

This Admin's answer to the Lehman accounting crimes?

Let's rewrite all the laws, overhaul the regulations... we'll hog tie all those left standing so they can never do this again. Really? Really!?! Have you Dems lost your freakin' marbles? You never once stepped in to enforce the rules and regulations you already had at your disposal... ...indeed, you fought against a clampdown... rewrote laws in previous eras of Democratic power that helped enable the mess... ...your ACORN bully buddies forced things even further... ...and now you claim you want more power to control the "bad" guys in the apple barrel? Even worse, you want to grant those powers to yet another shadow body under the Federal Reserve's umbrella -- the very freakin' people who also helped put us here in the first freakin' place?

It goes to prove how far out of touch the Dems are with the people.

Let's start with Lehmans...

We don't want reforms.

We want justice served.

We want those who -- did the crime -- serve the time.

Then let's move on to Freddie and Fannie...

We want all of those who were responsible, including politicians, regulators and more... held accountable.

We are sick and tired of the innocent being hammered with the debt, financially punished for crimes they did not commit, while the guilty go free complete with the millions and billions they pocketed in the process.

DEMOCRATS!! Do they get it?!?

Here is a little something extra to get your heart racing without doing any exercise... check this out.

Bloomberg BusinessWeek: The 50 Most Powerful People in U.S. Real Estate

Go through the list and find out who warned you about what was coming with respect to the housing crisis... and who didn't.

Who were the "enablers" on that list?

For the record, Barney Frank is not stupid. Far from it. The fact is, he is extremely sharp, sly, and cunning... learn more about Barnett "Barney" Frank here.

Will he be able to complete his image makeover so Massachusetts voters can forget his part in the entire financial mess? They claim voters have very short memories. We shall soon see...

Meanwhile, here's what I predict.

Dems will use all of this as an excuse to further hammer away at capitalism and further entrench the country in socialistic reforms which will NOT address the perpetrators of the crimes that occurred. They will try to harness the outrage still simmering from when the "crisis" first hit, and use it as a tool to further their own agenda while making the "stupid voters" believe they're actually punishing the guilty.

Sadly... there are plenty of voters still out there that are dumbed down enough to believe them, IMHO.

"Just a spoonful of sugar helps the medicine go down."

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