The Real Housewives of Wall Street

[w8liftinglady]

http://www.veteranstoday.com/2011/06/07/the-real-housewives-of-wall-street/

Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?


The wolves are still at the door, and they are not going to go away. They will huff and puff until they blow the House down, bet on it. No woodcutters are gong to come along and take the axe to them. Here is a condensation and simplification of the Matt Taibbi article below by Richard Clark in the: OpedNews

America has two national budgets, one official, one unofficial. The official budget is public record and hotly debated: Money comes in as taxes and goes out as jet fighters, DEA agents, wheat subsidies and Medicare, plus pensions and pennies for that great untamed socialist menace called a unionized public-sector workforce that Republicans are always complaining about. According to popular legend, we’re broke and in so much debt that 40 years from now our granddaughters will still be hooking on weekends to pay the medical bills of this year’s retirees from the IRS, the SEC and the Department of Energy.

Why Isn’t Wall Street in Jail?

Most Americans know about that budget. What they don’t know is that there is another budget of roughly equal theft, traditionally maintained in complete secrecy. After the financial crash of 2008, it grew to monstrous dimensions, as the government attempted to unfreeze the credit markets by handing out trillions to banks and hedge funds. And thanks to a whole galaxy of obscure, acronym-laden bailout programs, it eventually rivaled the “official” budget in size — a huge roaring river of cash flowing out of the Federal Reserve to destinations neither chosen by the president nor reviewed by Congress, but instead handed out by fiat by unelected Fed officials using a seemingly nonsensical and apparently unknowable methodology.

[sabrina 1]

1. Matt Taibbi wrote about this months ago.

He was interviewed on TV and elsewhere, and at the time, I thought maybe something might be done about it. But, it was greeted with a big 'yawn' by the MSM who are far more enthralled with the personal behavior of people who might have actually done something about it.

This is a total disgrace of course, imho, far, far worse than what Weiner did.

But America's priorties are a little screwed up these days so don't expect much interest for this story. Even Taibbi had little luck for all of his work on the story.

[Left coast liberal]

2. I know and buried ever since.

Great article.

Scary news.

[sabrina 1]

3. It's our fault.

We are not interested enough to keep it in the news, as this thread clearly demonstrates.

Maybe if we all grew up and paid as much attention to issues like this, as we do to the sexual affairs of politicians, we could do something about it.

Anyhow, I appreciate seeing it again.

When Congress is willing to allow tax dollars to go the wives of Wall St. insiders to set up businesses, unless the public, AND the media create enough of a stink about it that they HAVE to respond, it will just keep happening and we have no right to complain about it.