AIG and Goldman Sachs - How We Got Here from There

[Stingo]

How screwed are we? It’s worse than you think…because accountability in the financial sector hasn't been a factor in years and years.

http://allspinzone.com/wp/2009/03/21/aig-and-goldman-sachs-how-we-got-here-from-there/

[acmavm]

1. Why use reason when we can just put the guys who raped the country

(or is it world) economically back in the driver's seat and let them finish the job. And claim that it had to be done because they were 'too big to fail'. But of course, the American people can just fucking swirl around the economic poop shute until they finally are flushed through to the sewer and that's just too bad.

[Loge23]

2. The damage is already done

The only question that remains is how it all plays out.
We've essentially given the task of fixing this mess over to those who have created it.
If Obama doesn't bring in outsiders to affect policy, then it is all but over - and that sure doesn't look likely.

But what does happen?
Will our 401(k)'s be rendered completely empty?
Will the U.S. dollar be rendered worthless?
Will inflation take hold?
What are the real ramifications of any of these scenarios?

The people in charge of these matters appear to be concerned only with saving their own necks (assets). I do not see any substantial shift towards protecting the value of the average citizen's net worth at this point - indeed, it is from us that the wealth will be distributed. We are told that this is necessary. Necessary for what exactly, or for whom?

It is clear that the fundamentals of power in the U.S. - the financial structure and the political structure - are hopelessly and irretrievably broken. There's just no turning back anymore.

[Stingo]

3. Is it all gloom and doom?

I'm not thinking it will come to all that, but there needs to be some mighty shaking on Wall Street, that's for sure.

[Loge23]

4. Some suggestions:

If we don't see any of these come to fruition soon, then we'll know the die is cast:
Restore Glass-Seagel
Fire Geithner
Officially nationalize AIG, Citibank, and Goldman. Fire all managers.
Assemble an independant national economic panel to head-up the re-privatization of the companies that survive.

The money, folks, is gone. The country may indeed survive this ONLY if we oust the criminals that caused this mess. If we "trust" the same people who caused this to "fix" it, we're doomed. They know this and they are prepared for the consequence; we're not. Geithner is one of them. Paulson should be in jail.