Interesting discussion, but I see all this in a slightly different light; the kind of light that I have seen politicians both Republican and Democrat use for the last 50 years. Their method is as old as the hills.
Politicians are desperate right now. Banks are failing, millions out of work, people lost their retirement savings and the list goes on and on. These politicians are desperate to shift the focus from themselves to anyone else who can be blamed. It doesnât matter who to them. It never has.
This is not about synthetic CDOs or if the laws have been broken. This is a cover up of political stupidity by making some one else look stupider, taking the blame for all this mess and becoming the publicâs villain. And who better to start with than the villain of Wall Street Goldman Sachs (or any other business who looks like a good whipping boy.)
These politicians all use the same method to find the publics villain:
1. Bash the villain, especially in public hearings.
2. Totally discredit and embarrass the villain with charges and lawsuits.
3. Demand major punishments for them because of how they hurt the public.
4. Pass new laws that do little to change the root causes of government ineptitude and mismanagement.
A great example of this was Enron. Every politician in the U.S. had their prayers answered after the markets crashed after 2000 when Enron stuck its neck out to be slaughtered. Politicians said âEnron showed us how corrupt U.S. business was that caused â¦â So then they passed Sarbanes-Oxley (SO) as a cure all. This got all the stupid politicians off the hook. Enron was now the villain. Not our inept government. Did Sarbanes- Oxley stop anybody? Nope. Books are still being cooked like in the âRepo 105â for Lehman.
These politicians could give a dam if GS is guilty of anything. All these politicians are trying to do is save their asses from the public. GS is just one of the many scapegoats and sacrificial lambs they must slaughter or lose their jobs. They have got to find some entity that takes the place of the government as the bad boy in the publicâs eye. Government will not stop until they thoroughly pin the blame on some one else as the cause of the banking crisis.
Clowns like Levin (an #$%@&*% from my state) are tasked to make GS look bad, bad and bader. This was a typical bash the villain hearing. Levin wanted the typical voter who lost his house to know that the bad boy from Wall Street was doing Sh*t 12 time worse than anything the government had done. He was saying âLook voterâ¦here is your villainâ¦he was the reason you lost your house not us clowns in the governmentâ¦. arenât you glad I found him for youâ¦.what do you want me to do to himâ¦â
If they canât make it stick to GS then they will keep looking for another patsy until they have trampled them under foot and it sticks in the publicâs eye.
Politicians are desperate right now. Banks are failing, millions out of work, people lost their retirement savings and the list goes on and on. These politicians are desperate to shift the focus from themselves to anyone else who can be blamed. It doesnât matter who to them. It never has.
This is not about synthetic CDOs or if the laws have been broken. This is a cover up of political stupidity by making some one else look stupider, taking the blame for all this mess and becoming the publicâs villain. And who better to start with than the villain of Wall Street Goldman Sachs (or any other business who looks like a good whipping boy.)
These politicians all use the same method to find the publics villain:
1. Bash the villain, especially in public hearings.
2. Totally discredit and embarrass the villain with charges and lawsuits.
3. Demand major punishments for them because of how they hurt the public.
4. Pass new laws that do little to change the root causes of government ineptitude and mismanagement.
A great example of this was Enron. Every politician in the U.S. had their prayers answered after the markets crashed after 2000 when Enron stuck its neck out to be slaughtered. Politicians said âEnron showed us how corrupt U.S. business was that caused â¦â So then they passed Sarbanes-Oxley (SO) as a cure all. This got all the stupid politicians off the hook. Enron was now the villain. Not our inept government. Did Sarbanes- Oxley stop anybody? Nope. Books are still being cooked like in the âRepo 105â for Lehman.
These politicians could give a dam if GS is guilty of anything. All these politicians are trying to do is save their asses from the public. GS is just one of the many scapegoats and sacrificial lambs they must slaughter or lose their jobs. They have got to find some entity that takes the place of the government as the bad boy in the publicâs eye. Government will not stop until they thoroughly pin the blame on some one else as the cause of the banking crisis.
Clowns like Levin (an #$%@&*% from my state) are tasked to make GS look bad, bad and bader. This was a typical bash the villain hearing. Levin wanted the typical voter who lost his house to know that the bad boy from Wall Street was doing Sh*t 12 time worse than anything the government had done. He was saying âLook voterâ¦here is your villainâ¦he was the reason you lost your house not us clowns in the governmentâ¦. arenât you glad I found him for youâ¦.what do you want me to do to himâ¦â
If they canât make it stick to GS then they will keep looking for another patsy until they have trampled them under foot and it sticks in the publicâs eye.
