. . .
L “We now learn that while he was Secretary of Treasury, Henry Paulson tipped off some of his hedge fund buddies of the Fannie Mae bailout. Everyone in power is quick to proclaim that his statements and actions are not illegal and declare that nothing can be done. His statements and actions are illegal, but those in power refuse to enforce Title 18, the criminal provisions of the United States Code, because they do not want to bring charges against their compatriots in power even their competitors in the other party.”
O “They cop out and refuse to send the cops out. Because otherwise someone could bring charges against them some day. The Great Ruling Class Truce. And no one asks any follow-up questions or demands answers.”
L “However, a federal judge in New York, Jed S. Rakoff, took a stand from his seat on the bench and rejected a settlement between the Big Banks and the SEC that would have let the Big Banks substantially off the hook.”
O “I read a blurb that the state attorney general in Massachusetts, Martha Coakley, took a stand and demanded that the Big Banks follow standards. The lawsuit may put the Big Banks on the hook.”
L “And in developments overseas, America’s standard-bearer in China, Gary Locke, is America’s stand-up guy in China.”
. . .
[Henry Paulson: http://www.bloomberg.com/news/2011-11-29/how-henry-paulson-gave-hedge-funds-advance-word-of-2008-fannie-mae-rescue.html]
[Jed S. Rakoff: http://www.npr.org/blogs/thetwo-way/2011/11/28/142856070/judge-blocks-citigroup-sec-settlement]
[Martha Coakley: http://www.washingtonpost.com/business/economy/massachusetts-attorney-general-sues-big-banks-over-foreclosure-practices/2011/12/01/gIQAgwnUIO_story.html. See the “e-ssay” titled Fire Your Attorney General (November 7, 2011)]
[Gary Locke: http://www.washingtonpost.com/lifestyle/style/gary-locke-is-star-in-china-as-first-us-ambassador-of-chinese-ancestry/2011/11/28/gIQA703DEO_story.html?hpid=z2. See the “Category” denoted “Locke, Gary”]
Bumper stickers of the week:
America Is Exceptional / When America’s Exceptional
Take a stand
Take a few fiat dollars out of your credit union and put them in your pocket for safe keeping.
