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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-23-08 11:19 PM
Response to Reply #18
70. Letís Stop the Greatest Theft in the History of Humankind
They come from the Planet Enron. Their mission: Plunder the Earth. Their maggot: Phil Gramm

So, what do we do, fellow Earthlings? Well, get informed, for starters.



Letís Stop the Greatest Theft in the History of Humankind

By Otto Spengler, Asia Times
Posted on September 23, 2008, Printed on September 23, 2008
http://www.alternet.org/story/99895 /

EXCERPT..

Why are the voices raised in protest so shrill and few? Why will Americans fall on their fountain-pens for their bankers? If America is to adopt socialism, why not have socialism for the poor, rather than for the rich? Why should American households that earn $50,000 a year subsidize Goldman Sachs partners who earn $5 million a year?

SNIP...

Americans are so deep in the hole that they might as well keep putting borrowed quarters into the one-armed bandit. They have hardly saved anything for the past 10 years. Instead, they counted on capital gains to replace the retirement savings they never put aside, first in tech stocks, then in houses. That hasn't worked out. The S&P 500 Index of American equities today is worth what it was in 1997, after adjusting for inflation (and a pensioner who sells stock purchased in 1997 will pay a 20% capital gains tax on an illusory inflationary gain of 40%). Home prices doubled between 1997 and 2007 before falling by more than 20%, with no floor in sight.

As it is, many of the baby boomers now on the verge of retirement will spend their declining years working at Wal-Mart or McDonalds rather than cruising the Caribbean. Some of them still have time to tighten their belts and save 10% of their income (by consuming 10% less), plus a good deal more to compensate for the missing savings of the 1990s.

SNIP...

Opposition to the Treasury plan is disturbingly thing. Bloomberg News on June 21 quoted the Democratic chairman of the Senate Banking Committee, Christopher Dodd, saying, "I know of nobody who is arguing over the amount of money or even about that the secretary ought to have the authority to purchase these toxic instruments, these bad debts."

Why the taxpayers of America would allow their pockets to be picked in this fashion requires a different sort of explanation than one finds in economics textbooks. My analogy of gamblers taxing themselves to bail out the casino is inspired, in part, by a remarkable new book by the Canadian economists Reuven and Gabrielle Brenner (with Aaron Brown), A World of Chance. In effect, the Brenners re-interpret economic theory in terms of gambling, showing how profoundly gambling figures into human behavior, especially in such matters as so-called life-cycle investing. The 50-ish householder who has not made enough to retire may take outsized chances, considering that as matters stand, he will work until he drops dead in any case. The Brenners write:

If people reach the age of fifty or fifty-five and have not "made it," what are their financial options to still live the good life? Except for allocating a few bucks to buy lottery tickets, it is hard to think of any other option. If people find themselves down on their luck and see no immediate opportunities to get rich, what can they do to sustain their hopes and dreams? Allocating a fraction of their portfolios with a chance to win a large prize is among the options. And when people are leapfrogged - that is, when some "Joneses" who were "below" them jump ahead - how can they catch up? They will tend to challenge their luck for a while, taking risks that they might have contemplated before in business, financial markets, and other areas but did not follow up with action.

A World of Chance undermines our usual view of "economic man" and substitutes the angst-ridden, uncertain denizen of a world that offers no certainties and requires risk-taking as a matter of survival. I hope to offer a proper review of the work in the near future. As my marker, though, permit me to leave the thought that for providing a theoretical foundation for the counter-intuitive behavior of American taxpayers, the Brenners deserve the Nobel Prize in economics.

Alas for the gamblers of America: they will tax themselves to keep the casino in operation, but it will not profit them. Where, oh where, is America's Vladimir Putin, who will drive out the oligarchs who have stolen the country's treasure and debased its currency?

SOURCE:

http://www.alternet.org/workplace/99895/let%27s_stop_th... /



Next step is to get organized and then convene a citizen's grand jury on this whole bailout thing.

An honest investigation would put a stop to this, PDQ. Once these turds spend some time in jail, the middle class might even get some of its money back.
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  -Know your BFEE: Phil Gramm, the Meyer Lansky of the War Party, Set-Up the Biggest Bank Heist Ever. Octafish  Sep-21-08 09:50 PM   #0 
  - Republicanism is a cult of ruthless, cruel, and greedy lawlessness.  ladjf   Sep-21-08 09:55 PM   #1 
  - They used to call them and they still ARE: Robber Barons. n/t  Triana   Sep-21-08 10:22 PM   #5 
  - They are "Robber Barons" and beyond that.  ladjf   Sep-21-08 10:24 PM   #7 
  - GOP -- Greedy Oil Perverts  Octafish   Sep-22-08 09:03 AM   #23 
  - Who Should Pay for the Bailout  seemslikeadream   Sep-21-08 10:00 PM   #2 
  - Sen. Bernie Sanders said the top 1-percent made $680 billion over the past 7 years.  Octafish   Sep-22-08 09:18 AM   #24 
  - Octafish, thank you for putting this together.  Just-plain-Kathy   Sep-21-08 10:17 PM   #3 
  - listen to this  seemslikeadream   Sep-21-08 10:19 PM   #4 
  - I'm listening to it as I write. Amazing. Thank you. n/t  Just-plain-Kathy   Sep-21-08 10:50 PM   #10 
  - Thank you for the inspiration, Just-plain-Kathy!  Octafish   Sep-22-08 09:45 AM   #25 
     - I know Bush, with the help of our corporate owned and controlled media...  Just-plain-Kathy   Sep-22-08 11:52 AM   #32 
  - Octafish, yer a frickin National Treasure, y'know? K&R  dicksteele   Sep-21-08 10:24 PM   #6 
  - Financial terrorism: US taxpayers bail out Wall Street criminals  Octafish   Sep-22-08 09:57 AM   #26 
  - Thank you, bookmarking  DemReadingDU   Sep-21-08 10:24 PM   #8 
  - What's Really Bankrupt -- The Wall Street Model: Unintelligent Design  Octafish   Sep-22-08 11:05 AM   #28 
     - I like Pam Martens, thanks for the link  DemReadingDU   Sep-22-08 11:29 AM   #31 
  - K&R for the important information and the time it took to post  bluesmail   Sep-21-08 10:36 PM   #9 
  - Bush Urges Quick Passage of Bailout Package  Octafish   Sep-22-08 11:19 AM   #30 
  - Another lovely line of lilly pads to leap from and to.  hootinholler   Sep-21-08 11:22 PM   #11 
  - Fleecing Whatís Left of the Treasury  Octafish   Sep-22-08 09:25 PM   #44 
     - This will be a step in the right direction!  hootinholler   Sep-22-08 10:31 PM   #47 
  - K&R + "What is Jeb Bush's role in the Lehman Brothers meltdown?" by Larissa Alexandrovna (9-16-2008)  bobthedrummer   Sep-21-08 11:33 PM   #12 
  - Jeb Bush: Lehman's Secret Weapon  Octafish   Sep-22-08 09:42 PM   #45 
  - Well done, Octafish! Always a pleasure learning my BFEE from your threads  Ghost in the Machine   Sep-22-08 12:18 AM   #13 
  - CARLYLE GROUP Founder on Cheap Debt, Credit Crunch and the New Buyout Landscape  Octafish   Sep-22-08 11:01 PM   #48 
  - You Rock,...... Great Post!  G_j   Sep-22-08 12:22 AM   #14 
  - Americaís Own Kleptocracy  Octafish   Sep-23-08 03:26 PM   #54 
  - K&R. Thanks, Octafish.  Mr_Jefferson_24   Sep-22-08 12:29 AM   #15 
  - Putting lipstick on an AIG  Octafish   Sep-23-08 03:29 PM   #55 
  - k&r  Swamp Rat   Sep-22-08 12:44 AM   #16 
  - Guerrilla Warfare and the Budget: Senator Phil Gramm  Octafish   Sep-23-08 07:49 PM   #58 
  - K & R great presentation Octafish  democracy1st   Sep-22-08 12:53 AM   #17 
  - Two great crashes, one surviving United Slaves of America  Octafish   Sep-23-08 08:03 PM   #59 
  - K&R, I don't really believe that aliens inhabit the Earth...  AntiFascist   Sep-22-08 02:50 AM   #18 
  - Letís Stop the Greatest Theft in the History of Humankind  Octafish   Sep-23-08 11:19 PM   #70 
  - K&R  Hubert Flottz   Sep-22-08 04:37 AM   #19 
  - The Predators' Bailout - Swimming Lessons for Washington and Wall Street  Octafish   Sep-24-08 12:04 AM   #71 
  - UBS Warburg took over Enron's energy trading - Enron, UBS, S&L ripoff, McCain linked to BCCI  leveymg   Sep-22-08 06:22 AM   #20 
  - Thank you - that BCCI report reads like the BLUEPRINT for the Fascist Agenda.  blm   Sep-22-08 10:03 AM   #27 
  - I'm looking forward to Lucy Komisar's BCCI book-here's Stephanie's awesome DU thread from 2-22-06  bobthedrummer   Sep-22-08 03:56 PM   #35 
  - UBS exec admits bankís sham tax shelters broke U.S. law  Octafish   Sep-24-08 08:26 AM   #74 
  - President Palin. Treasury Secretary Phil Gramm. This doesn't scare ANYONE?  HughBeaumont   Sep-22-08 07:35 AM   #21 
  - I've been waiting for your OP  malaise   Sep-22-08 07:38 AM   #22 
  - Incredible, just incredible. Bookmarked, kicked and recommended. Post of the year!  Major Hogwash   Sep-22-08 11:15 AM   #29 
  - K & R nt  glitch   Sep-22-08 01:06 PM   #33 
  - Don't forget his wife, Wendy, who regulated Commodity Trading (CTFC)  philly_bob   Sep-22-08 02:30 PM   #34 
  - thank you  barbtries   Sep-22-08 04:23 PM   #36 
  - kkkkkkrrrrrrrrrrrr  dogindia   Sep-22-08 04:30 PM   #37 
  - VIDEO: THE MAFIA, THE CIA AND GEORGE BUSH (1992)  reprehensor   Sep-22-08 04:50 PM   #38 
  - Great research, Octafish!  robertpaulsen   Sep-22-08 06:01 PM   #39 
  - K&R for the DUer with one of the best journals ever.  Kurovski   Sep-22-08 06:04 PM   #40 
  - K & R  lonestarnot   Sep-22-08 07:57 PM   #41 
  - K&R to share info of the type that a real media used to share with us! Thank you for your work.  cyberpj   Sep-22-08 08:12 PM   #42 
  - The Great Depression 2: Electric Boogaloo  EOO   Sep-22-08 08:47 PM   #43 
  - Wasn't this the opposite of money laundering?  Canuckistanian   Sep-22-08 09:51 PM   #46 
  - kick  G_j   Sep-23-08 01:28 AM   #49 
  - A few other US black budget network bank/finanicial criminal histories that led to this one  bobthedrummer   Sep-23-08 01:51 AM   #50 
  - This is too much information for me at this time of night  Giant Robot   Sep-23-08 01:54 AM   #51 
  - AIG=American Intelligence Grifters  bobthedrummer   Sep-23-08 01:36 PM   #52 
  - Utterly despicable.  JackDragna   Sep-23-08 01:55 PM   #53 
  - Kick n/t  hootinholler   Sep-23-08 05:33 PM   #56 
  - If Octafish got a dollar for everytime he informed a DUer what has transpired w BFEE,  mod mom   Sep-23-08 05:57 PM   #57 
  - Big k&r  crazylikafox   Sep-23-08 08:04 PM   #60 
  - This thread is jam-packed with incredible digging and dot-connecting and  chill_wind   Sep-23-08 08:24 PM   #61 
  - So where do you think the money is, Octafish?  Nikki Stone1   Sep-23-08 08:39 PM   #62 
  - how many dems voted for it? nt  tomp   Sep-23-08 08:52 PM   #63 
     - Man, I thought I was going to get a location  Nikki Stone1   Sep-23-08 08:53 PM   #64 
        - that's why i put "nt" in the subject. it means "no text".  tomp   Sep-23-08 09:12 PM   #65 
        - sorry, i think i misread the whole thing. nt  tomp   Sep-23-08 10:15 PM   #67 
  - I love your intellect...  BushDespiser12   Sep-23-08 09:22 PM   #66 
  - Octafish!!  bridgit   Sep-23-08 10:24 PM   #68 
  - I don't think I've ever seen Meyer Lanksy used...  dmesg   Sep-23-08 10:35 PM   #69 
  - K & R  OakCliffDem   Sep-24-08 05:14 AM   #72 
  - Octafish. You da man!  Joanne98   Sep-24-08 05:24 AM   #73 
  - philly_bob's post #34 briefly mentioned Wendy Lee-Phil's @%$#*  bobthedrummer   Sep-24-08 12:39 PM   #75 
  - Phil Gramm is McBush's economic guru, 'nuff said..  Virginia Dare   Sep-24-08 01:00 PM   #76 
  - Suspend campigns but not this thread-kick  bobthedrummer   Sep-24-08 10:49 PM   #77 
  - They're fighting over who gets what in DC, "bipartisanly", kick  bobthedrummer   Sep-26-08 12:38 AM   #78 
 

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