Banker Robbers Foiled in Treasury Raid!
Washington: A gang of banker-robbers failed in their attempt to clean out the US Treasury this week. Somehow citizens were alerted to the clever plan to clean out the US vaults and were able to put a stop to it -- at least for a while. "I was very confused," said one citizen who preferred to remain anonymous. "I thought people were supposed to rob banks, not the other way around!" Insiders said that they thought this was an indication that certain business elements realized that the Republicans were going to lose the upcoming election for President and decided to steal what they could before November.
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This is hilarious...though your imputation of nefarious motives to the esteemed treasury secretary is lacking credibility as he has such hard-earned dollars ($500 million US when he left Goldman Sachs, now reduced due to the current crisis to $400 million US) why would he stoop to any scam? He is just trying to solve problems on behalf of America not Wall Street...(I heard this on CNBC, owned by parent company General Electric, which sold stake to Warren Buffett yesterday -- he said GE is backbone of american economy and loaded with CDSs which they are worried are worth less than shit)
James Galbraith said this of the bailout,
"If one does not trust the Treasury to act in good faith and in compliance with the spirit and letter of the monitoring and enforcement provisions, then of course there is no case for this bill ... "
'The globalization agenda has been closely linked with
the market fundamentalists - the ideology of free
markets and financial liberalization,' economist Joseph
Stiglitz told Nathan Gardels on the Huffington Post
recently. 'In this crisis, we see the most market-
oriented institutions in the most market-oriented
economy failing and running to the government for
help.' Everyone in the world will say now that this is
the end of market fundamentalism.
'In this sense, the fall of Wall Street is for market
fundamentalism what the fall of the Berlin Wall was for
communism - it tells the world that this way of
economic organization turns out not to be sustainable,'
said Stiglitz. 'In the end, everyone says, that model
doesn't work. This moment is a marker that the claims
of financial market liberalization were bogus.'
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