From "Too Big To Fail" To "Too Good To Stop"
What part of my citation from this story is dripping with irony? Take your time, but it should be easy to spot without too much hard work.
The president will announce a series of measures to cut down on excessive risk-taking as part of a revamp of the country's financial regulatory system, a senior Obama official said on Wednesday.
The move could also help the White House tap into public rage over Wall Street excess after Obama's Democratic Party was rebuffed by voters in Massachusetts, who elected Republican Scott Brown to the U.S. senate.
"The proposal will include size and complexity limits specifically on proprietary trading and the White House will work closely with the House and Senate to work this into legislation," the official said.
Did you see it? I'm sure you did, but being the incurable know-it-all that I am, let me point it out for you anyway:
"[T]he White House will work closely with the House and Senate to work this into legislation."
I hope this doesn't mean that they will go about this the same way they "worked closely with the House and Senate" to get a workable health care reform bill passed. Because if that's the case all I can see is another looming failure where certain Senators and Blue Dog Democrats hijack the process and turn the financial reforms the administration proposes into the same bowl of thin gruel that health care reform ended up as, thanks to people like Bart Stupak, Joe Lieberman, Olympia Snowe and Ben Nelson.
Eight of the nation's largest banks spent nearly $26 million lobbying federal lawmakers in 2009, during one of the most tumultuous periods in financial history.
The banks spent nearly 6 percent more on federal lobbying last year compared with 2008, according to a review of congressional lobbying records. The banks spent $25.8 million on lobbying in 2009 and $24.4 million in 2008, the two years at the heart of the worst financial crisis since the Great Depression.
The eight banks include: JPMorgan Chase & Co., Citigroup, Bank of America, Morgan Stanley, Goldman Sachs, Wells Fargo, Bank of New York Mellon and State Street. Those eight banks were the first recipients of taxpayer bailouts at the end of 2008.
They have since repaid the aid and have seen their stock values increase. They are now preparing to pay out massive compensation packages.
And now that they are back in black ink and raking in the big bucks for their good works you can be certain that they will not have another increase in the amount of money spent on lobbying this year, right? RIGHT?
Of course, the important information to take away here is that the people that caused the financial meltdown, gambled away trillions, caused mass foreclosures and nearly sent us into another depression and then stuck us with their bill are back on sound footing. And that even though they were teetering on the brink of being completely insolvent they still managed to pay themselves nice salaries, bonuses and stock options while increasing the amount of money they used to buy Politicians.
The forgotten victims of the subprime crisis
Foreclosure to Homelessness 2009
A joint report from the National Coalition for the Homeless,the National Health Care for the Homeless Council, the National Alliance to End Homelessness, the National Association for the Education of Homeless Children and Youth, the National Law Center on Homelessness & Poverty, the National Low Income Housing Coalition and the National Policy and Advocacy Council on Homelessness.
Ignore the little things because we can't have any real drama in politics today. Not good to throw tables in the Church of Moneyed Politics. That would be bad for America, ya know.?
Imagine if what this nation would like if we had a whole hell of a lot of Robin Hoods practicing some kind of obscene vigilante justice?
Max Rameau delivers his sales pitch like a pro. "All tile floor!" he says during a recent showing. "And the living room, wow! It has great blinds."
But in nearly every other respect, he is unlike any real estate agent you've ever met. He is unshaven, drives a beat-up car and wears grungy cut-off sweat pants. He also breaks into the homes he shows. And his clients don't have a dime for a down payment.
Rameau is an activist who has been executing a bailout plan of his own around Miami's empty streets: He is helping homeless people illegally move into foreclosed homes.
Make it stop! You can't actually have people trying to solve the root of the problems by cutting through the very important bureaucratic red tape and corporatocracy's strangle hold on it all... That would be evil!