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Posts Tagged ‘S.E.C.’

Read how America has become a Banana Republic With No Bananas.

I’ve been wondering for months how come Americans are not marching in the streets with pitchforks and torches, ready to burn down Wall Street.. Apparently that time has come…minus the pitchforks and torches..for now…

After reading “The Sickening Abuse Of Power At The Heart Of Wall Street” from Simon Johnson, chief economist at the IMF from 2007 to 2008,  it is no stretch of the imagination to presume that more protests will follow… It will make the Tea Party seem like small potatoes… America might finally be awakening from its Reaganomics Bushite Induced Coma… but is it too late?

Things I read this weekend  are making it look like the S.E.C. suit against Goldman is the tipping point, the Avalanche control mortar that has set off the entire ridge. Things are moving fast. For weeks there’s been tons of speculation on whether or not the U.S. Senate was going to get bogged down into the same fillibuster blackmail scenario that dragged the Health Bill through lawmaking hell… And then with the flip of an S.E.C. switch, overnight,  it became apparent to the G.O.P. that there was no way they could possibly get away with siding with the banking industry.  So now it seems that a financial regulation bill is on its way and it might even include a break-up the banks amendment.

What is clear is that the Oligarchy is scared.  If Goldman loses it’s legitimacy there is no telling what might happen to it.  Is it really too big to fail?  Or has it become too big to be allowed to exist?

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