tag:blogger.com,1999:blog-3184575347466163757.post4641031229173450972..comments2023-07-03T08:51:01.209-05:00Comments on What Powderfinger Said . . . Observations on Life in the Dying Empire: It Ain't ReformAnonymoushttp://www.blogger.com/profile/00111660094586126379noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3184575347466163757.post-16675593159879896002010-04-28T05:45:53.302-05:002010-04-28T05:45:53.302-05:00...the "bigness" of the profits blind mo......the "bigness" of the profits blind most lawmakers to the simple fact that the enormous size of banks and the speed of transactions will eventuate in their total loss of control over what they are doing...<br /><br />Dinosaurs who cannot respond to changes in the financial environment...<br /><br />To stop this from happening, they have to "freeze" the financial environment, hence, the richer get richer and the poor get poorer...<br />maintain the status quo forever.<br /><br />They do not have control.<br />Over the past 15 years, there have been a series of enormous losses occasioned by "rogue" brokers or bankers...Barclay's comes to mind...Montaghttps://www.blogger.com/profile/00017648070522030951noreply@blogger.comtag:blogger.com,1999:blog-3184575347466163757.post-78241841393460366962010-04-28T05:37:07.438-05:002010-04-28T05:37:07.438-05:00"Everybody bought the bullshit crackpot econo..."Everybody bought the bullshit crackpot economic ideas brought to us by that prince of intellects, Ronald Reagan."<br /><br />In other words, we created half-baked stories, and told them over and over until they became "facts".<br /><br />These "facts" were so robust and firmly established that it took almost $5 trillion dollars to show that they were "fictions"... and not very good fictions, at that...<br /><br />Wasn't that about the time Giuliani was kicking the homeless into the East River? Margaret Thatcher? Add a few incentives to the fictions and you get a bunch of yahoos following a bunch of Madoffs.<br /><br />What goes around, comes around, especially to a nation of suckers.Montaghttps://www.blogger.com/profile/00017648070522030951noreply@blogger.com