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How Wall Street and Washington Betrayed America!!

By Larry Doyle on March 4, 2009 at 5:45 PM in American Consumers, Banking Committee Hearings, Banking Institutions, Credit Risk, Economy, Employment, Equity Markets, Sense on Cents (Larry Doyle blog)

fitz_03_06_banks4
While politicians, bankers, regulators, and commentators can and will point fingers as to where and how our system of financial oversight broke down, make no mistake it was due to too many people making and taking too much money!! I have highlighted the grotesque system of lobbying that has developed and corrupted our society in More Legalized Bribery.

We watch daily hearings on Capitol Hill in the spirit of doing what is right for our country. Please!! Spare me the nonsense and pandering. While collectively we deal with markets that are now down over 50%, the pols and the bankers have effectively robbed the bank and left the taxpayers with the bill to clean up the mess. Barron’s wrote a brief piece on this topic: how the Financial Sector Spent $5 Billion Lobbying Washington Over the Last Decade!!

It is high time we attach names and faces to those politicians and lobbyists who fed at this trough!!

LD

Cartoon by David Fitzsimmons, Arizona Daily Star

  • lark

    betrayed

    Excellent choice of word.

    amateurs

    Not a chance. Lackeys.

  • Roger

    So, where is the list of names? We all know Barack Obama is the biggest name in Fanny & Freddy during his time in the Senate…

  • HARP

    ‘I’m Maureen Dowd, and I’ve Been Had’

    A support group for bitter pundits disappointed in Obama is quickly becoming necessary.

    The ranks indeed are filling with the disaffected and the disappointed — Chris Buckley, Maureen Dowd, David Brooks, David Gergen, and even that gynecological sleuth and blogger Andrew Sullivan. And then there is the very angry Marty Peretz. Their complaints are varied but expressed with equal amounts of remorse and bitterness. They all have been done wrong by Barack.

    http://pajamasmedia.com/blog/im-maureen-dowd-and-ive-been-had/

    • Mack The Knife

      I actually think being able count Maureen Dowd as one’s enemy is a positive…

    • Obama: Dubya II Electric Boogaloo

      Sometimes, though, I wonder if it’s really their true sentiment or if they’re really, desperately, trying to save whatever is left of their objective credibility by writing “critical” articles on the Messiah.

      Like, “look at me! I’m being critical of Obama now!”

      When they write something substantial like on his BC, or past history, or his associations with Rezko, etc, then I’ll start believing this is nothing more than BS.

  • truthorconsequences

    “Government of the people by the people for the people”. BS! We have a government for the lobbyist and the thugs of the sort that come out of Chicago and the Texas oil fields, ( the permian Basin and Midland Tex comes to mind). Two drug addicts have all but destroyed the America we once knew.

  • termo

    I saw this interview of Obama with Gordon Brown (certainly no Winston Churchill – more like Neville Chamberlain – clueless):

    http://www.cbsnews.com/blogs/2009/03/03/politics/politicalhotsheet/entry4840788.shtml

    What Obama said was startling!

    Obama: What I’m looking at is not the day-to-day gyrations of the stock market, but the long-term ability for the United States and the entire world economy to regain its footing. And, you know, the stock market is sort of like a tracking poll in politics. It bobs up and down day to day, and if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.

    Is he serious! He is comparing the Dow or S&P to political polls. Some one of those economic clowns he has hired should explain to this elected moron that every time the stock market goes down it means real people’s investments, their mutual funds, their retirement accounts, their pensions. It is NOT a friggin’ popularity contest.

    Also this is not just bobbing up and down. It has been nose diving since January.

    Then the anointed “genius” says:

    Obama: On the other hand, what you’re now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you’ve got a long-term perspective on it. I think that consumer confidence — as they see the American Recovery and Reinvestment Act taking root, businesses are starting to see opportunities for investment and potential hiring, we are going to start creating jobs again.

    Again, one of this useless economic idiots should educate Obama that it is a P/E which PRICE to earning ratio. Not profit.

    Guess how many newspapers and broadcast networks will pick up on this tonight?

    Are there grounds for impeaching a President based on sheer ignorance?

    • Obamastolemyboyfriend

      No grounds for stupidity, but I’m sure if a real journalist on a major news station would actually investigate the fucker, his Rezko dealings, sweet mortgage deal and not being a natural born citizen, among many other things would give us more than enough grounds for impeachment. Any one of these unhappy former supporters getting pissed off enough to do it and get it top story across the MSM could get it to be a done deal.

    • Obama: Dubya II Electric Boogaloo

      Somebody should tell Obama that when you’re in your 50′s, 60′s 70′s and you’re watching your nest egg in your pension, in your 401k, in your IRA evaporate half it’s value in the matter of weeks, value that you depend on, you don’t have the luxory of looking at the “long term strategy”. What an absolute asshat.

  • Linda Anselmi

    Love the toon.

    Yes Wall Street and Washington, but I would add the Media. It really is a trifecta. There is absolutely no check on our system without real investigative reporting and constant media focus. We’ve had next to nothing for this MBO media marketers. they should have been naming names all along.

  • d2d

    Larry – how might you suggest we begin to identify, research “awards” and then out these criminals?

    Is there anyone in your arena that can do this? So much is hidden and it would take an insider to unravel and then out all of the players.

  • oowawa

    I see by the cartoon that bank CEO’s raked in “gazillions,” much worse than the “bizillions” I had originally suspected.

    The little girl in the cartoon mentions some outlaws, and it makes me think of another, whom I have had occasion to mention in previous posts, Pretty Boy Floyd. As Woody Guthrie wrote, “Oklahoma knew him well”:

    Yes as through this life I wandered,
    I’ve met lots of funny men–
    Some will rob you with a six-gun,
    And some with a fountain pen.

    But as through this life you wander,
    As through this life you roam,
    You will never see an outlaw
    Drive a family from its home . . .

  • CG
  • Patience

    I look forward to seeing the entire list, but we already knew before the election that Dodd, Obama and Frank were top recipients of financial sector largesse, yet this didn’t seem to phase those who consider themselves journalists. I found this particularly galling since it’s so germane to the dire problems we’re faced with right now. I’ve given up expecting old media to help people develop informed opinions — they’re worthless anymore in more ways than one.