Contempt of Congress!
Both parties ignore our pain
Riches fall to friends
No re-election!
Your bailout hocks our future
Corruption's reward
Sunday, September 28, 2008
Saturday, September 27, 2008
Myku by Genki
Heap Big Meltdown Fall
Pale Money-Men Eating Crow
Deregulation
glued to our keyboards
we fund master's large return
wipe away my tears...
no fundamentals
built on threat and warfare's bones
unseen greenbacked chains
they've learned nothing new
"industrial leadership"
merely how to con
Pale Money-Men Eating Crow
Deregulation
glued to our keyboards
we fund master's large return
wipe away my tears...
no fundamentals
built on threat and warfare's bones
unseen greenbacked chains
they've learned nothing new
"industrial leadership"
merely how to con
Friday, September 26, 2008
To Market To Market
--- by Genki
To Market To Market
They chant to the Earth
They'd persist with their chant
But it hurts their net worth
Now they ask for a bailout
(Well in fact, they demand !)
Else destruction is promised
We could never withstand
They've demanded grand fortunes
They'll distribute to chums
While my town and our schools
Are transformed into slums
Section 8 of their wishlist
Bans all legal review
Other agencies' oversight
Would be off-limits too
"To maximize shareholder value..."
Our Republic now shoulders the cost
But profit is private & sacrosanct
To hesitate is to be lost
Our elected officials are cozy
On the great wealth of Wall Street they fawn
They told us the future was rosy
As they slyly deliver the con
The rats scramble up on the gravy train
Some foreign weasels ride too
A feeding frenzy – don’t complain
Big capital’s snafu
When Leaders are Looters...
My God who'd we elect?
When my own bills come due
They'll contrive to collect
Just call me a donkey
An innocent fool
Social Darwinist garbage
Misdirected misrule
It seems dumb I should subsidize
Those So Wrong & So Rich
Yet I'm urged to obey...
Golly - "Ain't life a bitch!"
To Market To Market
They chant to the Earth
They'd persist with their chant
But it hurts their net worth
Now they ask for a bailout
(Well in fact, they demand !)
Else destruction is promised
We could never withstand
They've demanded grand fortunes
They'll distribute to chums
While my town and our schools
Are transformed into slums
Section 8 of their wishlist
Bans all legal review
Other agencies' oversight
Would be off-limits too
"To maximize shareholder value..."
Our Republic now shoulders the cost
But profit is private & sacrosanct
To hesitate is to be lost
Our elected officials are cozy
On the great wealth of Wall Street they fawn
They told us the future was rosy
As they slyly deliver the con
The rats scramble up on the gravy train
Some foreign weasels ride too
A feeding frenzy – don’t complain
Big capital’s snafu
When Leaders are Looters...
My God who'd we elect?
When my own bills come due
They'll contrive to collect
Just call me a donkey
An innocent fool
Social Darwinist garbage
Misdirected misrule
It seems dumb I should subsidize
Those So Wrong & So Rich
Yet I'm urged to obey...
Golly - "Ain't life a bitch!"
Fixed Markets, Dirty Insiders
Wall Street spin-meister scum tell lapdog reporters the monster bailout is good for us. Few believe the tall tales; many people are tired of being lied to; most understand America is being looted by the privileged few.
We await a vocal political leader who'll speak strongly against subsidizing big business. Sadly, too many politicians are cozy with the big money players.
The world won't end without this bailout. Why demand prior immunity? -- because this flimflam will unravel. Financial wizards fashioned this crisis; they should lose their jobs, and disgorge accumulated ill-gotten wealth. Hasty decisionmaking rewards the worst people. The Bush government's failed regulatory policies and regressive tax system are also hugely to blame. It's time for change.
Make noise!
Keep government from mortgaging our future to the already rich.
We await a vocal political leader who'll speak strongly against subsidizing big business. Sadly, too many politicians are cozy with the big money players.
The world won't end without this bailout. Why demand prior immunity? -- because this flimflam will unravel. Financial wizards fashioned this crisis; they should lose their jobs, and disgorge accumulated ill-gotten wealth. Hasty decisionmaking rewards the worst people. The Bush government's failed regulatory policies and regressive tax system are also hugely to blame. It's time for change.
Make noise!
Keep government from mortgaging our future to the already rich.
Thursday, September 25, 2008
Give Up the Keys, George!
A foolish boy and his nutty friends commandeer a car and drive wildly around. As time goes by, their roughshod ways cause the car to slow & stink - "it's not as nice as before." They want to design & build a new car for themselves & their friends. They demand that others pay, and quickly, or the world will end.
Don't let Congress waste our money on such people!
Don't let Congress waste our money on such people!
Wednesday, September 24, 2008
Emboldened Looters - Major Ripoff
Bush's Treasury Secretary Henry Paulson, formerly CEO of Goldman Sachs, is preparing to loot the US Treasury. He wants US$700 billion to spend as he sees fit, without oversight.
The money could be distributed overseas, to prop up anything.
Paulson divested himself of a personal half-billion dollars stake in Goldman Sachs stock when taking his present government job. Bloomberg reported "He was exempted from paying capital gains tax on the sale of those stakes under a rule meant to avoid penalizing wealthy people who take government jobs and are forced to sell assets." The Treasury Secretary job itself pays $191,300 (or $478,250 over his expected 30 month term), but there were thus hundreds of millions of dollars of benefits. Sweet!
Of course, those $100 millions of capital gains taxes thus don't go to the Treasury, but instead are in Paulson's pocket.
Today, wonder of wonders, Paulson's reportedly got a new friend:
"Berkshire Hathaway, the company owned by US investment guru Warren Buffett, has bought ... $5bn of Goldman Sachs preferred stock bearing a 10% annual interest rate. It could increase its holding of Goldman shares as under the terms of the deal, it has the option of buying $5bn of common stock for $115 per share at any time in the next five years." Sweet deal!
Available for Financiers Only!
Beware especially the bailout's proposed Section 8 -- almost unbelievable: "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency. " Wow! Looters Seek Prior-Immunity. Very bold. But it's a 'big bucks' play...
The money could be distributed overseas, to prop up anything.
Paulson divested himself of a personal half-billion dollars stake in Goldman Sachs stock when taking his present government job. Bloomberg reported "He was exempted from paying capital gains tax on the sale of those stakes under a rule meant to avoid penalizing wealthy people who take government jobs and are forced to sell assets." The Treasury Secretary job itself pays $191,300 (or $478,250 over his expected 30 month term), but there were thus hundreds of millions of dollars of benefits. Sweet!
Of course, those $100 millions of capital gains taxes thus don't go to the Treasury, but instead are in Paulson's pocket.
Today, wonder of wonders, Paulson's reportedly got a new friend:
"Berkshire Hathaway, the company owned by US investment guru Warren Buffett, has bought ... $5bn of Goldman Sachs preferred stock bearing a 10% annual interest rate. It could increase its holding of Goldman shares as under the terms of the deal, it has the option of buying $5bn of common stock for $115 per share at any time in the next five years." Sweet deal!
Available for Financiers Only!
Beware especially the bailout's proposed Section 8 -- almost unbelievable: "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency. " Wow! Looters Seek Prior-Immunity. Very bold. But it's a 'big bucks' play...
Monday, September 22, 2008
Double Whammy !
Speculation & lies have driven US finance firms to the brink of disaster. The "financial leaders" and "statesmen" who forced us into the morass are now begging for bailout by common working citizens.
What are these losers (most still in their high-paying jobs) now doing while Bush talks of a bailout costing $800 billion (don't trust low-figure Bush arithmetic)...
The financiers certainly now are doing what they do best -- jigging the system. Goldman Sachs and Morgan Stanley decide to change their legal status and become commercial banks -- the regulators accept their proposal the same day (21 Sept 2008); on a Sunday no less!
Be sure that the weasels are positioning their businesses and themselves personally to gorge maximally from the carnage they devised. Bailout costs are already rising; of course nobody wants to pay, now or ever. We must require any firm accepting public funds to purge all top management and make such failed managers liable to disgorge salaries and benefits already taken.
The big loser = the average mensch. It just ain't right!
What are these losers (most still in their high-paying jobs) now doing while Bush talks of a bailout costing $800 billion (don't trust low-figure Bush arithmetic)...
The financiers certainly now are doing what they do best -- jigging the system. Goldman Sachs and Morgan Stanley decide to change their legal status and become commercial banks -- the regulators accept their proposal the same day (21 Sept 2008); on a Sunday no less!
Be sure that the weasels are positioning their businesses and themselves personally to gorge maximally from the carnage they devised. Bailout costs are already rising; of course nobody wants to pay, now or ever. We must require any firm accepting public funds to purge all top management and make such failed managers liable to disgorge salaries and benefits already taken.
The big loser = the average mensch. It just ain't right!
Sunday, September 21, 2008
Business as Usual = A Bad Business
The increasingly globalized world is always changing. We continuously need to adapt to survive.
Last week our US President suddenly became interventionist in business affairs, with friendly bail-out of major finance, banking and insurance businesses.
This is bad policy for many reasons. First, in most cases the same or wholly similar dipshits will continue to run those businesses. Careless & overpaid executives and regulators whose policies led to systemic problems haven't learned any lessons -- only that the taxpayer can bail them out. They should be forced personally to disgorge salaries, bonuses & profits.
Tycoon bailout without oversight is bad business, too similar to the mistake made by Pres. Ford in pardoning Richard Nixon, drawing a veil over Watergate. As a nation of laws, the full debacle should be presented in open court, with public evidence on record. Otherwise the same errors will reemerge again & again.
Bush & his cronies have fiddled the system from the top, and have driven our nation to near ruin (to justify bailout, they now admit financial ruin is near).
Irresponsible appointments have focused on ideologues, often with bankrupt options. 'Creative accounting' led to poor performance, perhaps inevitably.
Hurricane Katrina's infamous "Brownie" became Undersecretary in the Dept. of Homeland Security after presiding over the decline of the Intl. Arabian Horse Assn. Smashing!
Enron's Thomas E. White became Secretary of the Army (previous CEO of Enron Operations Corp. & Vice Chair of Enron Energy Services). White's responsibility for the Army didn't last two years, but he was in charge during 9/11 and the deadly anthrax attacks. (It's now believed the anthrax poisoner operated from within Fort Detrick, a US Army facility). Lovely...
http://www.commondreams.org/views02/0917-04.htm
http://www.thememoryhole.org/white-bio.htm
Last week our US President suddenly became interventionist in business affairs, with friendly bail-out of major finance, banking and insurance businesses.
This is bad policy for many reasons. First, in most cases the same or wholly similar dipshits will continue to run those businesses. Careless & overpaid executives and regulators whose policies led to systemic problems haven't learned any lessons -- only that the taxpayer can bail them out. They should be forced personally to disgorge salaries, bonuses & profits.
Tycoon bailout without oversight is bad business, too similar to the mistake made by Pres. Ford in pardoning Richard Nixon, drawing a veil over Watergate. As a nation of laws, the full debacle should be presented in open court, with public evidence on record. Otherwise the same errors will reemerge again & again.
Bush & his cronies have fiddled the system from the top, and have driven our nation to near ruin (to justify bailout, they now admit financial ruin is near).
Irresponsible appointments have focused on ideologues, often with bankrupt options. 'Creative accounting' led to poor performance, perhaps inevitably.
Hurricane Katrina's infamous "Brownie" became Undersecretary in the Dept. of Homeland Security after presiding over the decline of the Intl. Arabian Horse Assn. Smashing!
Enron's Thomas E. White became Secretary of the Army (previous CEO of Enron Operations Corp. & Vice Chair of Enron Energy Services). White's responsibility for the Army didn't last two years, but he was in charge during 9/11 and the deadly anthrax attacks. (It's now believed the anthrax poisoner operated from within Fort Detrick, a US Army facility). Lovely...
http://www.commondreams.org/views02/0917-04.htm
http://www.thememoryhole.org/white-bio.htm
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