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Archive for the ‘legal thievery’ Category

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One of his best columns evah.

What went down in the Land of Lincoln is just the reductio ad absurdum of an American era where both entitlement and corruption have been the calling cards of power. Blagojevich’s alleged crimes pale next to the larger scandals of Washington and Wall Street. Yet those who promoted and condoned the twin national catastrophes of reckless war in Iraq and reckless gambling in our markets have largely escaped the accountability that now seems to await the Chicago punk nabbed by the United States attorney, Patrick Fitzgerald.

More relentless truth per paragraph than I’ve seen in any MSM screed for a while.

And it’s about time somebody likened all these money bastards and their enablers to O. J. Fucking Simpson. That is exactly their moral fucking universe.

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Lordy

Via Elaine Supkis, this from the Prudent Bear:

Layman’s explanation of our situation:

1. The current “Ponzi Pyramid of Death” monetary system is crumbling.

2. Right now, virtually every single large bank, medium-sized bank, hedge fund, pension fund, mutual fund, money market fund, stock broker and insurance company has failed or is failing. All the phony paper they have been trading back and forth is virtually worthless.

3. Somewhere between $10-$20 TRILLION (estimates are hard to make due to the opaque nature of the derivatives markets) in debt and derivatives “value” has been wiped off the books of the above-mentioned players.

4. The players are failing left-and-tight. ALL of the biggest, oldest Wall Street banks, plus the largest insurance company plus the two largest mortgage companies (Fannie and Freddie), plus the entire money market, plus the largest S&L (WaMu) and the fouth-largest bank (Wachovia), all failed in the span of three weeks. The rest of the thousands of institutions worldwide are mortally wounded will be toppling over soon.

5. Governments and central banks worldwide have already pumped approximately $5 trillion collectively to date to fight this systemic, sychronized, worldwide, complete, utter collapse. So far, their efforts have failed.

6. At this point, the fight will continue to the death. During these next few weeks, months, and even years the “economic convulsions” between the “Ponzi Pyramid” debt collapse destruction-deflation and government and central bank reflation/monetization/nationalization efforts will rage, with the back-and-forth battles getting wilder and wilder, until:

7. The entire world is plunged into final financial demise, with the people of all the nations suffering mightily. “Great Depression II” will ensue for the next five to ten years.

8. During this time, if the world doesn’t blow itself up in all the wars that will surely follow, tens of millions of people in the U.S. are going to learn to fear debt and living beyond their means. This is a good thing.

9.Eventually, hopefully, the U.S. pulls through in one piece, the people’s stock, bond, and housing assets are decimated, many have lost their jobs, but we all learn discipline, humility and sobriety and as a result, our national character grows.

10. We emerge as a chastened and humble nation. Exactly what we need.

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Even in the sick mockery of a free country that is Cheney’s post-9/11 America, it nonetheless beggars belief that our airport security personnel are now empowered to seize your fucking laptop (or iPod, or flash drive, or Fisher-Price Speak & Spell) for no goddamn fucking reason, examine everything on it, steal anything they feel like off it, keep it as long as they want. Oh, and of course owe you not the slightest explanation.

(I’ve wondered more than once WHY HAS THERE BEEN NO MASS OUTRAGE AT THIS? And I’m still wondering.)

Anyway, via Bob Geiger I thankfully see that Russ Feingold (D-Frequently Sole U.S. Senator Who Deserves His Paycheck) has introduced a bill to put a stop to this tyrannical horseshit. Running across Bob’s excellent post on this was a bright spot indeed in my day, filled as it otherwise was with accounts of our House of Lords taking their own first crack at Grand Theft Nation.

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Senate, Media: Bringin’ the lube

What, you thought the would-be plunderers of our remaining wisps of collective wealth would just accept defeat and slither away from a mere thwarted opening salvo?

And just leave all our delectable, irresistable 300 million American arses unrammed?

Just let our perfectly enslavable grandchildren go free?

Girl, please.

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Thirty-some days left, time for the big closing number – All Crisis All The Time. Gosh, who could have imagined?

Well, at least the House killed that prettified-with-lipgloss Paulson atrocity today. I’m still waiting for an adult, any adult, to appear on the scene. Even all the brilliance and savvy and sincerity of a Barney Frank is just shilling for an unsustainable game. These people all still act like free ponies conjured out of nothing is a viable financial system. No one is serious. I never even hear the word “derivatives” on the MSM news. To hear the chirpy NPR babe tonight, you’d think the entire global financial system was melting down because a million Americans defaulted on their mortgages. (Oh, and what is this “predatory lending” you speak of?)

Among best things I read today was Stirling Newberry’s piece on Kos. I love how he delivers “duh” truths in a majestic, spare, founding-fatherish prose style:

If the powerful know that they can obtain any license merely by compounding failure upon failure, and then be unaccountable for the results, then we will have more failure.

(You’d think a thing like that would be obvious, wouldn’t you? But like I pointed out, there are no adults.)

Anyway, that’s just the economy. But if markets continue to roil, it wouldn’t surprise me if Bush has “national emergency” and martial law up his sleeve.

Nor would it surprise me if on top of all this, they toss a fresh match on the Middle East by bombing Iran.

Just sayin. They’re insane, after all. And there’s thirty-some days left. Chaos. Go big.

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Syrsly.

(Can’t remember where I stole this from. Think it was Jeffraham Prestonian)

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