I've been watching as the new 'Fake Financial Reform' Bill is being played out on our political landscape, and as such, I can only say that regardless of what Mitch McConnell (who I secretly call 'Gumby') is pretending to tap into the Tea Bagger Racist Hate Groups of America, that neither he or President Obama has point out the obvious...
Who was responsible, who will be held accountable, and who is going to go to jail, for what no one, that is not in a total state of delusion, can no longer ignore:
There has been proven, fraud on the part of the Banks and Wall Street, and millions of Americans have suffered, yet now, instead of accountability, what both parties are doing, is to not address, the real culprits, or hold them accountable, but instead, both parties, are 'pretending' to be the New Leaders of Reform, when in fact, there is no reform at all, without accountability. When did this basic principal of our Democracy change, and why is is being ignored now?
Were the big banks all knowingly running Ponzi schemes? That's the question that arises from the stunning hearings held this week by the Senate Permanent Committee on Investigations, chaired by Senator Carl Levin, on the collapse of Washington Mutual, the largest thrift failure in the U.S. Faced with looking like fools or knaves, the barons of the big banks -- from Robert Rubin to Lloyd Blankfein to WaMu's Kerry Killinger -- have chosen, not surprisingly, the fool. But the WaMu hearings -- and Zach Carter's stunning running commentary on them -- suggest that while Bernie Madoff may have been the extreme, he wasn't the exception. (Note: Carter blogs for the Campaign for America's Future which I co-direct)
The Levin hearings show that WaMu systematically peddled loans to people it knew could not pay them back. This wasn't an accident. Levin exposed a WaMu internal audit that reviewed 132 loans, and found 115 involved confirmed fraud, with 80 having "unreasonable" income -- meaning the income listed on the loan was so preposterous that any reasonable person, much less a trained loan officer, would have called it into question. The audit resulted in no -- zero, nada -- changes in WaMu's lending practices. Fraud wasn't a problem; it was the business plan. As Carter summarizes:
According to the FBI, 80% of mortgage fraud is committed by the lender. We're not talking about stupid loan officers allowing borrowers to get away with something crazy that is bad for the bank. We're talking about clever loan officers pushing fraudulent documents in order to score bigger paychecks, and bank executives looking the other way so that they can keep getting big paychecks from the securitization machine. This isn't a problem unique to WaMu. This is how the U.S. mortgage system operated for half a decade. WaMu particularly pushed predatory option-ARM loans, loans with an initial monthly payment so low that it often didn't even pay off the interest on the loan. Then after a couple of years, the monthly payment explodes -- and the loan becomes unaffordable.
http://www.huffingtonpost.com/...
By now, I think just about everyone in our country understands what happened to our nation. You can, if you dare, call it 'technically legal' but at what cost to our nation?
You might want to separate 'ethics and morals' from how our society managed to survive from the destruction of our 'moral base' in favor of not holding those accountable, that led us to where we are, but what you cannot deny is where we are now.
There is always a great 'cost to pay' in any society, when we let the Oligarchy take over, and refuse to demand, the 'rule of law' and that is the failure of both or parties....
Regardless, or your arguments, there is simply no way to separate, 'ethics and morality' in our nation. Because what has happened now and had been proven, is that all the big Banks and Investment Houses, were doing exactly what WaMu was doing...only worse...
There is more than enough 'evidence' that if we 'refuse to accept, and act upon' will indeed come back to haunt President Obama in the end....because of this simple reason:
No one can deny, the open Fraud, that has been denied and allowed to continue in our markets...
It is a 'truth' that will not go away, and all Americans know this...
The 'Basic principals' on honesty banking in our 'neighborhoods' have lost trust, hope, and respect.....because what has been finally proven is that:
All the Banks were doing exactly what Bernie Madoff were doing, and are getting away with it.....Bernie Madoff, what just the tip of the iceberg, a 'diffusion, the sacrificial lamb, but it goes so much deeper than that...
All of us on Kos, have had a great and amazing education of how Goldman Sachs, JP Morgan, Citi-Group, Wells Fargo, and so many others were allowed the commit blatant 'fraud' thought the Banking/Lending Industry that President Obama, Larry Summers and Timothy Geithner have refused to deal with, and until we demand that our Leaders deal with this 'Fraud' who can trust them?
Who can expect real change?
Like all decent and growing societies, if we refuse to address our failures, the criminal elements that have 'thrown away fair play;, a nation of laws not men, and pretend otherwise' then we are left with our 'two party system' that no one can trust.
I think we are way past meeting that point.
The awful truth, is that, if we can not find to courage to demand change, then we must realize that the need for change is that what happened that led to ruination was based on deep 'mistakes' that led us into the abyss we find ourselves in is the very end of our national 'new reality as to most important decisions before us.
If we continue to not discuss the most important issues:
Let us now demand that DailyKos will make a pledge to not play into any more 'Palin Diaries'''''''or Michael Steel Diaries.......or anything other than what I feel, are the priorities:
Let's be strong enough, brave enough, smart enough, to demand real agendas that matter on this site: Stop wasting each others time on 'getting a diary on the rec'd list...'I do not personally give a shit what the 'Republicans are doing'
What are 'we doing' is what I feel we should be focusing on...and how can we get our agenda done?
Are we becoming a 'gossip columnist' site....? Or can we return to the real issues again.
That is my challenge to you, and I ask you again...........pay attention Senator Levin and what is the 'truth' that no one wants to hear:
All the Banks have been 'doing the Bernie Madoff' Scheme, and let's get back to basics....Let's get back to 'who we are as a party' and stop acting like the Republicans, who at the best, are only putting that 'idiot from Hell, Sarah Palin, as the newest 'bullshit idiot' that is the opposite of what I was taught as a true Democrat:
We, are not lost yet, if we can change the 'Narrative' We are not yet lost, if we allow the Republicans, to lie about 'what they lie about to continue to destroy the Middle Class..As Elizabeth Warren, William Black and Simon Johnson and Joe Stiglitz are talking about......
I beg you Kossacks, do not, just for the sake of getting on the 'rec'd list' to not address the right issues....
Stand up behind what will make or break our party:
Honor, dignity, integrity, the right for American Workers to not be sold out by either President Obama, or Clinton. Stand up for the Unions and demanding accountability towards Wall Street, and not,if you ever cared about you families and our future as a nation, then at least, stop writing these 'boring needless diaries' about Palin, Beck, and the rest of these' diaries, just to make the 'High School Cool List' and get down and dirty about who we, as Kos were always about.......
The real issues.....
Our families depend on this.......stop 'not paying attention' to what is really going on now.'
And what is going on now...........
Is that..................the majority of the Banks/Wall Street...like WaMu were doing the exact same things............
Stop being 'the fools' because I always thought that Daily Kos was so much better than this:
Again, I repeat:
These guys weren't fools. They knew what they were doing. They knew that the music would stop someday, and the reckoning would come, or more likely, the Feds would step in and bail them out. (Amazingly Killinger is still outraged that WaMu wasn't bailed out rather than put out of business). But they kept dancing because they were cleaning up along the way.
In the last two weeks, the Financial Crisis Inquiry Commission and the Levin Hearings provide a stunning picture of the industry. The good cop, FCIC, treats the bankers as experts, listens to their opinions, and lets them claim the role of fools. "We didn't know." "We didn't realize housing prices wouldn't always go up". " We weren't responsible."
Then yesterday, the bad cop -- the Levin committee -- exposed the inner working of what Bill Black calls "control fraud," a business model based upon fraud as central to its profitable operations. It is hard to believe that WaMu or Madoff is an exception. Levin should probe every major bank engaged in the securitization of mortgages. Is it likely that their bank officers were fools? Or that they were prepared to turn their heads or hold their noses because the rewards were so great? Ignorance is their defense, not their condition. They knew what they were doing. The rest is for a prosecutor to sort out.
http://www.huffingtonpost.com/...
Can we focus? Can we stop being the 'ultimate high school' bullies club, and can we actually move away from the 'decoys of Sarah Palin and Michale Steel'?
When when President Obama, knowing what we all know 'demand' prosecutions, finally? When will the President lead, not in 'turning the page' but instead, allowing the ultimate 'liars' of Mitch McConnell now 'pretending to do any reform, with is new 'meme' of how Obama is now refusing to 'End the Bailouts' to tap into the 'Hate of the Racial Right Christian Militias'?
I am afraid, that this is finally going to come, when the Republicans, who led us into this horrifying abysss....with their lies, and hatred, push President Obama, to face up to the 'FRAUD, and GREED, and destruction of our entire economy, not because President wants to, but in the end, may be forced to................
And that...............may not be such a bad thing. This is the price of where both our 'paid off parties, will not be able to do anything other than to 'pick a side' because, day by day, the lies are getting bigger and better, and in the end...........
the truth might be pushed out, that no one can ever hide, no matter how they try to.........
Many thanks to:
http://www.huffingtonpost.com/...
Who at least, had to courage to speak the truth.
My greatest hope, is that DailyKos, will stop, because of the amazing minds and intelligence on this site, to continue wasting time, other than the most important issues before us:
What if we, as a site, we had the courage and world to led the a new narrative into a strong agenda, and stopped this bullshit, 'Palin, Beck, Rush, Steele, Gingrich, Bachman, whatever, and had the foresight and determination to focus on the most important issues?
So, based on this new 'adult agenda' instead of how are truly divided now, let me ask you know.......can you .............can we....stop the gossiping and needless flame wars?
Can we focus on an true Democratic Agenda?
I welcome all thoughts, actions and new information on this site, and that is why I love that.....it is so diverse, and I am not saying........let's not include all the 'great funny and wonderful things' we share together...
So many times, I've read of Daily Kos...
"that we do not have to bow down to the the bullshit Republican Agenda' and for the most part, I believe in this...
But I think, what I am asking here:
Is this:
Let set a new agenda about what we are talking about here...what would happen if we had the courage to speak about the most important issues:
Financial reform......
Thanks