Goldman Sachs

Yes, people. I've read it all. I've seen what the Senate has released of the emails. I've read the childish denials by Goldman's CEO. I've seen it all.

Yesterday, Obama got sot in the head by the Republicans in the Senate when they blocked his Financial Reform Act. Those dastardly Republicans! Just look what they are doing to this country!

Look! Goldman Sachs appears to have been playing the game by their own rules. Doing so, they made billions of dollars. I see that. But how is really to blame?

The stock market crash of 1929 taught us a lesson: Banks and other financial institutions will do anything to make money. They don't really care about us. All they care about are their shareholders and their bonuses.

In the 1930's laws were passed to regulate Wall Street and banks. Specific powers to oversee and prosecute where granted to specified agencies. The system worked for 70 years. Then what happened? Those agencies that were charged with oversight fell down on the job. Yesterday I read that employees of the FED, rather than watching the markets, watched porn instead. The SEC claims it only had 23 people to watch all the bank loans in America. Since there seems to be some 9000 people on the East Coast alone working for the SEC, does that mean of all those people only actually 23 work?

And what about the FED? Doesn't the FED have direct control over the banks? What were they doing?

I look at this and have to say, we are paying a large salaries to a lot of people to protect us from exactly what happened over the past three years and they were all on vacation.

Obama billed himself as the "only candidate who can work both sides of the aisle." Remember that? Seems to have worked pretty well as long as he didn't have to deal with the Republicans at all. The 2010 mid-term elections will be interesting.