Shit Explained

Just how hard it was to figure out what Wall Street was doing to the markets prior to the current fiasco is explained in great detail by Michael Lewis over at Portfolio Magazine. He really knows his shit and it took him two years of digging to finally figure it out. The fact that every one of us who was in the "investment" (swindle) field at all was complicit in this true crime of the century, everyone from CNBC to the secretary at Merrill Lynch. There was no way anyone from outside the box could possibly have known the complexity and the true state of the market. Not the SEC? No, they should have known years ago but they did zippo. This is clearly the end of capitalism because nobody in their right mind will ever trust Wall Street again. Until the next time. You cannot know just how dumb these Ivy MBAs really are. Just how blind and how unprepared they all are for the world that requires real thinking. Read the piece. Capitalism RIP.

Hate Driving Republicans

Hate toward Wall Street from the party of small business that has never liked "eastern" money is in every conversation.  It is this gut hatred that could kill the "bailout."   Add to the fire the fact that the "fat cats" have donated a ton to Democrats and you have the formula for continued financial paralysis.   The idea that the Republicans are pro "Big Business" is simply an east coast idea pushed by Democrats during the Depression in order to get votes, and by and large this was true.  Ain't true now.  "Main Street" Republicans mistrust Wall Street as if they were the old time communists, in fact their dislike runs deeper than most of you realize.  Take a look at the Republicans opposed to the "bailout" and you will see essentially reps from rural dominated states, not places like New York or California.  This is quickly becoming Wall Street vs Main Street.

Another reason for the bailout problem is the "I'm better than you" attitude of both Paulson and Bernanke who use language only the elites can understand.  I ask a simple question: would any of you hire either one of them as salesmen?  Who would they sell anything to?  Ivies, elite school grads, and beach club members.  This also feeds into the Main Street hatred of the plan.