Thom Hartmann: The Real Criminals are Neither Lynndie England nor the AIG Traders

[babylonsister]

Thom Hartmann
Best-Selling Author and Host of Nationally Syndicated Progressive Talk Show
Posted March 23, 2009 | 10:11 AM (EST)

The Real Criminals are Neither Lynndie England nor the AIG Traders


Whenever a politician or commentator bloviates about the brokers at AIG who are getting bonuses, we should all be remembering Lynndie England and Charles Granger. AIG brokers are to the financial meltdown what England was to the Iraq war.

Certainly she did things that were deplorable. But she thought they were legal (England, operating under orders to "soften up terrorists," even thought she was helping defend our nation). And to the extent that John Yoo's memos were law, arguably her actions were legal (although the Bushies never wanted it tested, so threw them to the wolves).

But the important point is that the real criminals of the Iraq War were not those like Lynndie England: they were George W. Bush, Dick Cheney, and Donald Rumsfeld (and their neocon buddies).

Like Lynndie England, the brokers at AIG are the small fish. Sure they shouldn't have been doing what they did, and it's insane that they were compensated the way they were. And even worse is the fact that those compensation packages were worked out in September and October of last year by the Bush administration, and that that convenient little fact is almost always ignored by politicians and commentators in their faux populist outrage.

But the real criminals of the AIG mess - and the entire financial meltdown that was set up between 1999 and 2006 and crashed starting in 2007 - were Grover Norquist, Phil and Wendy Graham, Tom Delay, and, sadly, Bill Clinton.

The philosophy that it's possible to bomb people into democracy and torture them into being on our side drove the Bushies. It was wrong, flawed, and frankly insane, and we're paying a huge price for it.

Similarly, the philosophy that playing the game of business and investment without rules (the technical term is Laissez-faire Capitalism) has driven our government since the election of Ronald Reagan, and went on steroids during the last two years of the Clinton administration and throughout the Bush administration. It's equally wrong, flawed, and insane, and we're paying a multi-trillion dollar price for it not unlike we are for the war.

more...

http://www.huffingtonpost.com/thom-hartmann/the-real-criminals-are-ne_b_177996.html

[OwnedByFerrets]

1. K and R So glad Thom actually wrote this down...

he's been saying it on his show for a week.

[RaleighNCDUer]

2. That may be true, but please note that England did not get promoted and

financially rewarded for her wrongdoing.

[babylonsister]

4. True, she was one of many of the past admin's scapegoats.

I guess when money isn't involved, it makes a difference.

[sandnsea]

3. No. The real culprits are nameless CEOs

who pulled the strings of Norquist, Graham, Delay and Clinton.

I don't know the names, but I certainly wish somebody would put a face to them like we did with Ken Lay.

[navarth]

5. K & R for Thom Hartmann

I love his daily broadcasts. I've learned a lot listening to him. His fairness and courage are an example to be emulated. Too bad the neocon radio shows don't have the integrity to run their shows the way Thom does.

[terisan]

6. That Commodies Act was in an 11000 page Appropriations Act and was veto-proof due to Dem votes-

In fact more Dems voted for this bill than Republicans (maybe because they wanted to get this Labor, Health, Human Services, and Education Appropriations Bill passed? or maybe some of them were bought off by special interests? We don't really know because we let the process work the way it does).

If Clinton is "Guilty" what about Congress. Passed Senate unanimously and passed the House with 157 Democrats and 133 Republicans. More Dems than Republicans voted for it.

This citation is from wikipedia but I think it accurately reflects the vote in Congress in 2000 and illustrates a way in which the political process is corrupted.

The Republican leadership of the House incorporated "The Commodity Futures Modernization Act of 2000(H.R. 5660)" by reference, as Section 1(a)(7), in a long and complex conference report to the 11,000 page long "2000 omnibus budget bill" formally known as "The Consolidated Appropriations Act for FY2001(Labor, Health and Human Services, and Education Appropriations Bill) (H.R. 4577)." 157 Democrats and 133 Republicans voted for the appropriations bill. 51 Republicans and 9 Democrats opposed the appropriations bill vote results in the house. The Senate version passed by "Unanimous Consent." President Clinton signed it into Public Law (106-554) on December 21, 2000.


<http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000>


How many citizens raised an alarm; how much money went to Congress from the special interests wanting this act passed ? Who even read this massive appropriations bill before it was passed and signed into law? --and isn't that what just happened with the Stimulus---and what we are being told must be done with the Budget bill?

Something to consider when people on DU want citizens to cheerlead for Democratic representatives and be loyal without question to presidents, vice-presidents, and their administrators just because they have a D after their names.

Where is the Transparency?

[burythehatchet]

7. It might interest people to know that Goldman Sachs made the decision long ago

to purchase mostly Democratic lawmakers. This is a Democratic problem, believe it or not.

[terisan]

9. That is truly distressing. nt

[rhett o rick]

8. And Lt. Calley was to Viet Nam. Can you spell scapegoat? nm

[Locrian]

10. good article, but goes back farther

Great article in Harpers

April 2009

Infinite debt:
How unlimited interest rates destroyed the economy
By Thomas Geoghegan

Basic summary is that in the late 1970's banking laws changed to allow higher interest rates. That drove (stampeded) money out of mfg into takeovers, banking, finance, etc. It has destroyed the workers ability to have any leverage. It has created the "easy money" and a whole new industry that is parasitic by definition.

It has lead to the whole "industry" of banking, finance - which makes a HUGE (compared to mfg) return on investment. We are now a nation of finance, with addiction to the gambling returns etc.

[santamargarita]

11. Where are you listening to Thom Hartmann?

I can't find him anymore! He's not on XM or Air America