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View Diary: Jack Lew and the premature descent from heaven: A tale of the American nomenklatura (89 comments)

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  •  The corruption is (12+ / 0-)

    perhaps too excessive and blatant to be believed. And for all the alleged complexity and esoterica that Wall Street likes to hide behind, a ten year-old could understand it, although that ten-year old might say, No Way, it can't be like that.

    I mean, Tim Geithner, as president of the New York Fed, misses the housing bubble, is rewarded by President Obama with the keys to the economy after the housing bubble bursts and send the economy into crisis or perhaps "crisis," which Geihthner uses to give hundreds of billions of dollars of no-strings money to the banks.

    No way: it can't be that ridiculous, can it?

    •  It's sad to have to repeat Upton Sinclair's line (11+ / 0-)

      "It's hard to get a man to see something when his salary depends on him not seeing it."

    •  There have certainly been enough pieces that I am (2+ / 0-)
      Recommended by:
      midwesterner, chuckvw

      beginning to question this myself.  At the start of Obama's presidency, I remember the discussion about how he appointed academic thinkers who had studied the Great Depression and consequently had academic solutions that differed from the traditional political based approaches.   I took comfort in this and it gave me a sense of hope.  

      During the last four years, there has been a lot of talk about how we need to rebuild main street.  During the same time period, the recession 'officially' ended about a year into Obama's presidency and Wall Street and the big banks are doing better than ever before.  Of course now "they" are saying we're back into a mild recession.  The funny thing is that what little recovery I've seen on main street is due to small people innovating in small ways, not because any of this massive new found wealth has made its way down to the people.

      Now, I think we're even starting to see a new face on some of the old games that brought us things like the housing bubble.  Last week I was at the bank and they wanted to talk to me about refinancing my home loan at the new lower rates.  I was whisked into a room, put on speaker phone with someone who knows where, who asked a few questions and then told me that I qualified for this HARP (?) (sounds like TARP to me) program and there was nothing to sign just say yes and I could have a new home loan.  It seemed an awful lot like a sales pitch for a used car and it made me wonder what sort of economic shenanigans were going on behind the scenes.  I declined their offer.  

    •  I know it's not Wall Street .. (1+ / 0-)
      Recommended by:

      but another example of the corruption is Liz Fowler .. she used to wotk(more than once) for "Mad" Max Baucus

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