A purely subjective look at our chances to survive those who rule us
Will we survive those who rule us and those who aspire to rule in their place, that bipartisan coalition known as The Money Party?
The parade of indictments on Wall Street is just beginning. On Tuesday the FBI raided three major hedge funds (very large private, highly exclusive, unregulated investment funds that generate huge returns for the lucky few). There are more raids on the way, twelve according to one source. Business Insider’s excellent article made clear what has the Feds upset: “What’s happened, it seems, is that the government has discovered a huge ring of friends or acquaintances who all know each other.” Its called insider trading, taking advantage of information to make those huge profits the hedge funds offer. Ten years after the Wall Street Casino opened, they’re finally regulating. It may be time for a scapegoat. The hedge funds will do, it appears. The defendants may wish to put in an early bid for a conveniently located federal penitentiary.
It will be months if ever before trials to start for the targets of the FBI raids. In the meantime, Congress failed to extend unemployment benefits for four million workers set to go off the rolls in January. “The peoples’ House” voted 258 to154 in favor of extending the benefits in the midst of real unemployment around 20%. But in our nation’s capitol, a majority is sometimes not a majority sometimes. The vote fell Speaker of the House Nancy Pelosi and her crew required a super majority for passage. There’s no success like failure. Read the rest of this entry »