Rolling Stone's Bright Light: Matt Taibi - The Real Housewives of Wall Street...

[JohnR]

The Real Housewives of Wall Street

Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?

America has two national budgets, one official, one unofficial. The official budget is public record and hotly debated: Money comes in as taxes and goes out as jet fighters, DEA agents, wheat subsidies and Medicare, plus pensions and bennies for that great untamed socialist menace called a unionized public-sector workforce that Republicans are always complaining about. According to popular legend, we're broke and in so much debt that 40 years from now our granddaughters will still be hooking on weekends to pay the medical bills of this year's retirees from the IRS, the SEC and the Department of Energy.

Must read the rest. To distort Larry The Cable Guy: That's effed up, I don't care who you are...

[nightfighter]

Good read. Saw the tip of the iceberg as I was leaving the industry... Many I saw in power, on both the government side, as well as the private side, deserve everything that is coming to them. I hope they are all ultimately held accountable. I wasn't a whistle blower, but I had standards I wouldn't compromise. Cost me a career. And I still can't finger who ultimately pulled the trigger on me.

[striperman36]

Originally Posted by JohnR

Must read the rest. To distort Larry The Cable Guy: That's effed up, I don't care who you are...

Several good scifi stories exactly like this. People also out living their savings and having to go back to work as cyborgs.

[mosholu]

Originally Posted by nightfighter

Good read. Saw the tip of the iceberg as I was leaving the industry... Many I saw in power, on both the government side, as well as the private side, deserve everything that is coming to them. I hope they are all ultimately held accountable. I wasn't a whistle blower, but I had standards I wouldn't compromise. Cost me a career. And I still can't finger who ultimately pulled the trigger on me.

I have to agree with you but I doubt they will be ever called in on the carpet. The sad thing for me is if you have not worked in the financial sector it is really hard to get a grip around how badly they have the public bent over.

[RIJIMMY]

Taibi is a lefty. Disagree? read the article and see how many times he mentions the repubs in a negative light, including his closing paragraph. yet, the things he is moaning about all took place under Obama and Geithners watch. All of it.

My thoughts on this? So what. They did NOTHING wrong. its like all the monday morning quarterbacks after 911 and Iraq. This was new territory, there were no rules and the govt was trying to make things up as they went. he failed to mention that the govt forced money on many institutions so that they would loan. We needed to cash into the market. Of course people are going to capitalize on this. Woouldnt you? I claimed my $1500 for the new windows I put in. As of my post a few weeks back - TARP was paid back in full and MORE funds are on the way.
Im not saying Im a fan of this, but its not as bad as he makes it out to be. you need to spend $ to make $.

[JohnR]

Originally Posted by RIJIMMY

Taibi is a lefty. Disagree? read the article and see how many times he mentions the repubs in a negative light, including his closing paragraph. yet, the things he is moaning about all took place under Obama and Geithners watch. All of it.

My thoughts on this? So what. They did NOTHING wrong. its like all the monday morning quarterbacks after 911 and Iraq. This was new territory, there were no rules and the govt was trying to make things up as they went. he failed to mention that the govt forced money on many institutions so that they would loan. We needed to cash into the market. Of course people are going to capitalize on this. Woouldnt you? I claimed my $1500 for the new windows I put in. As of my post a few weeks back - TARP was paid back in full and MORE funds are on the way.
Im not saying Im a fan of this, but its not as bad as he makes it out to be. you need to spend $ to make $.

Did you read the same article I did? Or did you read Striperman's Cyborg Couch Potato Abduction article?

[Swimmer]

Originally Posted by RIJIMMY

Taibi is a lefty. Disagree? read the article and see how many times he mentions the repubs in a negative light, including his closing paragraph. yet, the things he is moaning about all took place under Obama and Geithners watch. All of it.

My thoughts on this? So what. They did NOTHING wrong. its like all the monday morning quarterbacks after 911 and Iraq. This was new territory, there were no rules and the govt was trying to make things up as they went. he failed to mention that the govt forced money on many institutions so that they would loan. We needed to cash into the market. Of course people are going to capitalize on this. Woouldnt you? I claimed my $1500 for the new windows I put in. As of my post a few weeks back - TARP was paid back in full and MORE funds are on the way.
Im not saying Im a fan of this, but its not as bad as he makes it out to be. you need to spend $ to make $.

I remember when Taibi was chasing car crashes for channel 7 in Boston.

[RIJIMMY]

Originally Posted by JohnR

Did you read the same article I did? Or did you read Striperman's Cyborg Couch Potato Abduction article?

This article?


As America girds itself for another round of lunatic political infighting over which barely-respirating social program or urgently necessary federal agency must have their budgets permanently sacrificed to the cause of billionaires being able to keep their third boats in the water, it's important to point out just how scarce money isn't in certain corners of the public-spending universe. In the coming months, when you watch Republican congressional stooges play out the desperate comedy of solving America's deficit problems by making fewer photocopies of proposed bills, or by taking an ax to budgetary shrubberies like NPR or the SEC, remember Christy Mack and her fancy new carriage house. There is no belt-tightening on the other side of the tracks. Just a free lunch that never ends.

So....no mention of Dems???? Its the repub stooges responsible for this? Yes John, its the evil rich people screwing the poor again.
Keep in mind some basic facts - the money was lent to institutions/firms to loan. yes, there were ridiculously favorable conditions, but the money needed to get into the economy and the govt (that be the Dems) wanted to get it into the economy at all costs.