skip to main |
skip to sidebar
Weekend Update - May 2nd
- In wake of Sen. Arlen Specter's defection from the Republicans to the Democratic Party, Mark Morford dives right in with this delightful column "The Right Goes Insane."
- 'Elie Wiesel called him a "God." His investors called him a "genius." But, proving correct that old adage from the country and western song, you never really know what goes on behind closed doors.' Michael Moore comments on Bernie Madoff for Time Magazine.
- At the bi-annual Knob Creek Machine Gun Shoot, right outside of Louisville, Ky, gun enthusiasts of all stripes were there. Comparing the Obama Administration to Hitler's Third Reich, these nutbags are truly dangerous people. Check out these pictures.
- Well now, here it is: The more often people go to church, the more likely they are to suppost torture. Who would Jesus waterboard?
- "The inauguration of Barack Obama 100 days ago gave both progressives and conservatives a chance for a new beginning. Conservatives could have used the opportunity to open up a “big tent” and appeal to moderates. Instead, they’ve retreated into the political wilderness, failing as leaders, legislators, and even as linguists." Bernie Horn writes about the first 100 days of Conservative failure.
1 comment:
Michael Moore: Madoff Is a Convenient Distraction for a Bunch of Crooks Who Aren't in Jail
"Where's the mug shot of Phil Gramm, the senator who wrote the bill to strip the system of its regulations, or of the President who signed that bill?", said Michael.
And who was that president folks?
William Jefferson Clinton!
The vote on that senate bill? 90-8!
Yes another sad fact dear friends that Michael left out of his synopsis, Bernie Madoff was a lifelong Democrat and donor.
A side note: Byron Dorgan, Democrat from N Dakota was one of 8 senators opposing the repeal of the Glass-Steagall Act.
(7 Dems 1 Repub, The vote in the house for the Gramm-Leach-Bliley Act wasn't as close, 362-57 in favor. About 75% of Democrats and 93% of Republicans)
To his credit Dorgan is quoted here:
"I think we will look back in 10 years time and say we should not have done this, but we did because we forgot the lessons of the past, and that that which is true in the 1930s is true in 2010".
Keyword here, DERIVATIVE.
He also proposed an ammendment to this bill. The amendment reads: "To prohibit insured depository institutions and credit unions from engaging in certain activities involving derivative financial instruments." Unfortunately it was voted down in a voice vote.
Post a Comment