Meanwhile, the Old Corruption Unpeeled

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Like a rotting onion, Michael Lewis peels away the smoke and mirrors of Wall Street on 60 Minutes, and shows these guys as phony as onions pretending to be roses. Too big to fail? Apparently the message is, too stupid to indict.

Delusional? Whatever happened to accountability?

Oh, I forgot. That's just for the little scallions....
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Prairie's Reading: Rich on Econ-terrorism

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Oh, he doesn't call it that—econ-terrorism—in his column, The Other Plot to Wreck America. But in fact, Frank Rich lays out a compelling commentary on the destructive economic tactics titans of Wall Street have wreaked, unchecked, on all of the rest of us. And fully expect to keep on doing. Unless.

This could be, should be, the most important news of coming days — initial hearings of the Financial Crisis Inquiry Commission, its chairman former California treasurer Phil Angelides.

One presumes that a public official from the state arguably hardest hit by the Enron corruption would bring his own compelling case to the destructive chaos that is the current state of the economy. (and one would hope the willfully myopic malfeasant Larry Summers would step out into the real country where the economy matches the weather and stop with the bullshit that everything is rosy-dosy once again.)

But wait, first we have to be fearmongered about Underpants Bomber; titillated by the penises of Tiger and John Edwards; toss in a few flashes of the gams and cleavage of Gretchen and Erin and Mika for the boobs rabble and pretty soon you have more of the same ol'.....

Unless we say, "enough."

So I'm saying it. Enough. Report on what matters. Report facts. Farm out the pundits and the partisans to the pasture.

Enough.
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crossposted at firedoglake's The Seminal

UPDATE QUESTION: So... anybody hear a word about this hearing on the Sunday gasbag shows or evening news cycle? Nope. Me neither.

Prairie's Recommended Read: Stiglitz on Wall Street

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Writing in the July issue of Vanity Fair, Joseph Stiglitz gives a sobering analysis of just how much damage Wall Street has done to the economic stability of the globe.

When those who call themselves free marketers are in reality freebooters, little better than pillagers and pirates [sidebar: who can't appreciate the juxtaposition with Cap'n Jack Sparrow's alter ego Johnny Depp judiciously sprinkled all over the webpage furthering the message], long past time they be clapped in irons. And I know just the little Caribbean prison to put 'em in.

After all, it's just like Club Fed, isn't it?
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crossposted at firedoglake's Oxdown Gazette

Work "Hard"

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Just had to comment on a New York Times article posted over at Huffington Post about the "masters of the universe" over at Wall Street pushing back at the uproar over bonuses.

Here's the Times article. Go ahead, give it a read and see if you don't agree with my comment at Huffington Post:

So we who work on Main Street don't work "hard"?

Well, we don't work hard at deluding ourselves, that's for sure. Talk about arrogance, stupidity, and disconnect.

The Budweiser Clydesdales work harder...and to greater national benefit...than these bozos.

And make room for these guys in the Whine Club.
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