If we can prevent the government from wasting the labor of the people
under the pretense of caring for them, they will be happy. - Thomas Jefferson


Friday, April 10, 2009

Who knew? (Part 2)

Senator Byron Dorgan, thats who. (newsweek)

In 1994 Byron 'Don't gamble away my country' Dorgan expressed his fear of the "Exotic new derivatives called 'swaps'."
"Every taxpayer in the country is on the line."

In response to Congress' moves to de-regulate the barriers between brokerages and banks in 1999 Byron 'You're going to be sorry' Dorgan said we'll regret this within 10 years.

In 2009 Byron 'Victory is such sweet sorrow' Dorgan has not said: See? I told you so!

As in the newsweek article linked to above, I'll throw in the aside: Larry 'Girls are dumb' Summers was one of the lead dogs in the deregulation efforts Byron warned of in 1999.
Now, I ask you: Why is Larry 'Trust the banks, so long as a woman isn't in charge' Summers our Director of the Economic Council, while Byron 'I told you so' Dorgan remains virtually ignored?

Ignoring a sage, promoting a stooge...

THIS is whyipaytaxes.

1 comment:

Paul said...

You know, it was when banks started merging with brokerage firms, I knew it was a horrible idea. To have complete control on the money flow of the country, and suckle off enough for their own private golf course in their back yard... It's absolutely filthy fucking piggish...

I mean, for some comfort, I have Lewis Black to sum it up for me, in sort of gallows humor...

"Piggy Piggy Piggy Fuck Piggy Piggy"