Comments on: Here We Go Again

By: Henry

Henry — Mon, 29 Jun 2009 18:27:30 +0000

IMHO, We have had a representative democratic oligarchy that has now descended closer into a pseudo-financial kleptocratic state with all of this blatent public bailout spending.

So aren’t Paulson, Geithner, and Paulson as spokesmen for their buddies treating the U.S. Treasury (actually the power of the dollar printing press) like their own personal treasury?

http://en.wikipedia.org/wiki/Kleptocracy

In political science, the theory of stages in an empire’s fall is from: 1) democracy to 2) oligarchy to 3) kleptocracy to 4) failed state.

Happened to the Greeks, Romans, Veneticians, Spanish, French, British, etc.

But, good to know this is the official WH policy on the threat:

http://georgewbush-whitehouse.archives.gov/news/releases/2006/08/20060810.html

http://georgewbush-whitehouse.archives.gov/news/releases/2006/08/20060810-1.html

Seems like the SEC should use this policy as their guide for enforcement.

By: BMB

BMB — Mon, 29 Jun 2009 16:44:04 +0000

Some rather open discussion about how gov’t maneuvering is keeping the market propped up on CNBC this morning:
http://zerohedge.blogspot.com/2009/06/cnbc-this-market-continues-to-be.html

By: Brad

Brad — Mon, 29 Jun 2009 16:39:29 +0000

Maybe the Chinese authorities see how much we’re willing to shove over to the government when the banking system breaks, so they see it as a long term play to retain power.

By: BMB

BMB — Mon, 29 Jun 2009 15:22:28 +0000

More like ‘follow the leader’. Or in this case, ‘follow the loser’.

“Monkey see, monkey do?”

By: Brad

Brad — Mon, 29 Jun 2009 15:20:06 +0000

China certainly isn’t doing a very good job of using us as a cautionary tale, eh?

By: Maria

Maria — Mon, 29 Jun 2009 14:41:04 +0000

Fitch ratings could spend some time looking a little closer to home too. Yanno, if they get some spare time and want to look into what the US is doing to push loans and inflate the economy.