Disappointing ...

.... to hear that the SEC vote to charge Goldman, Sachs was 3 to 2. Here's the actual complaint ->

http://www.sec.gov/litigation/complaints/2010/comp21489.pdf

In that complaint, one will read that Paulson & Co. paid Goldman, Sachs $15 million to set up the transaction that led to over $1 billion in losses (see paragraph #5). Goldman, Sachs has not yet denied that charge. If true, in my thinking that is a smoking gun for the guilt of Goldman, Sachs ... and Paulson & Co. in an insidious conspiracy to defraud investors. One simply cannot take undisclosed money from one party while purporting to work for another. Since Paulson & Co. paid the "fee" - how can they not be responsible, too ?

Why would an SEC commissioner vote not to proceed ? Both were Republicans. I suppose IF I was a conspiratorialist, I'd think they were paid off or in the pocket of the rich & powerful Wall Street crowd. But as I like to joke (with truth), I've seen black helicopters, so if I can't see a conspiracy, it's likely not there. In this case, I think not.

Perhaps they wanted the SEC to try to settle first. That is the prior SEC modus operandi aka m. o. aka method of operation. Maybe. But after the Panic of 2008 and all that pain caused by Wall Street and the beefers, why keep that old m. o. ? That did NOT serve the public in the past, but was a means for the clique of ruling class lawyers to keep nefarious deeds as quiet as possible. Hence IF that was their reason, it was wrong.

Some Republicans (and even some liberals) have a knee-jerk anti-government reflex action. That's not so bad to have. I have it, too, as a good Fraternal Libertarian. Government fails in so many things it purports to do. BUT any Republican or anyone else with a bit of historical knowledge should know that great Republican President, Theodore Roosevelt, led the fight to bust the big trusts who were strangling the nation to get more wealth for themselves. And one should note that the first Republican President, Abraham Lincoln, favored well-structured internal improvements. The simple fact noted above should have neutralized any knee-jerk reflex against a strong SEC move. Hence IF their knee-jerk anti-government philosophy was the cause for voting no, that was wrong, too.

Therefore I'm disappointed in the Republicans, just like I was on the first TARP vote, which they defeated for incorrect knee-jerk anti-government reasons. That was a massive error that helped let the Panic of 2008 grow to epic size. The markets have only just recovered to pre-first-TARP vote levels. The public really needs an open hearing on all the crimes of Wall Street. This should be a start.

Republicans, think about Theodore Roosevelt's leadership. Stop being stupid and rigid. Adopt some of Theodore Roosevelt's populism. That is the key to winning elections now. You have to be more "Pro common man" .. well, perhaps more like a Fraternal Libertarian :)

Word of the Day

"Marry" - interjection [$10] - this is use #2 in dictionaries; archaic (often used in Shakespeare plays as an interjection.
Marry (2) means expressing surprise, asseveration, indignation, etc. [Middle English from (the Virgin) Mary]
Sentence: Marry, why did those Republicans votes against charging Goldman, Sachs ?

Analogy for understanding its usage: mild interjections that are very common today are "Christ!" and "jeez" (from Jesus), or even "Jesus H. Christ" !! Even "gosh" and "golly" arose from "God!". In Shakespearean times, an interjection that arose from Mary was ... marry !