Beating A Dead Horse?

A bright market observer recently asked: “Why rob a bank when you can buy it?” I had asked a related question: “Can we expect the people who robbed the bank to bring bank robbers to justice?”

Very few faces have changed on Wall Street since the Subprime Mega Travesty came to light. Most of the brokers, bankers, analysts, Treasury and FOMC officials, regulators, auditors and rating agency Czars (I love this abuse of language) are still in place.

How can we expect the very people who failed to warn us about the subprime mess to fix the problem? Somewhere, there are individuals who caused the meltdown hidden among the ranks of those who are in charge today.

Bailouts? Six trillion dollars and rising fast. Are the subprime thieves now in control of the printing press at the U.S. mint? If so, they will keep on printing money until the world’s most respected currency has no value whatsoever.

You say this is impossible? Perhaps so, but I think that as I write, you (the tax payer) are being asked to anti-up another $2 trillion. Pay attention. I could be right.



Note: Take a moment to ferret out the real meaning of the word “czar”.