The Know Nothings; Us

We Are All “Yappers Who Don’t Know Anything”
Posted: 17 Mar 2010 12:12 PM PDT
By James Kwak

Baseline.com : According to ex-Lehman executives interviewed by Max Abelson (hat tip Felix Salmon). To summarize, they say that using borderline-legal transactions to massage your balance sheet at the end of a quarter is completely normal, everyone does it, $50 billion is no big deal anyway, only “nonprofessionals” would even notice, and the only reason the bankruptcy examiner made so much noise about it was to justify the fee for his work. The unnamed sources may be right about one thing: it may be true that everyone was doing it, or at least something similar for the same purpose.... One source said, “If Valukas went into Goldman Sachs, what do you think the report would look like? This would be a fairly tale compared to that.” In other words, Lehman simply had the misfortune to not be bailed out by the U.S. government, leaving its finances open for all the world to see.

I can just sit here and see all kinds of people being hut by this scheme, mostly those who are guilty of thinking us so stupid; the ones who pulled off the scheme; the ones who think that it's no big deal.

The government had better forget about bailing these simpy, jackases out, and finding them safe passage out of the country or into prison where they might be safe. 

They can never be sure when the Tea-baggers figure out who the crazy, oppressive Kings really are and that Congressman have no real sway with them. They own the country just as sure as the landed nobility of Old England owned that country.

There is nothing civil about civil wars!