Why are those that created this mess...

[SHRED]

...the CEO's, and administration officials/advisers...why are they still in charge?

Why are health insurance corporations involved with our government's debate on how best to cover our citizens?

Meanwhile the talkinghead ranters all over the airwaves insist on calling Obama a "Socialist" and a "Liberal"?

We have truly "stepped through the looking glass" my friends.

:crazy:

[ixion]

1. yes, we have. The fact that they're not in jail is evidence of that

and I think we entered the looking glass decades ago, but it's only now become so blatantly apparent that it's undeniable.

[MannyGoldstein]

2. Because They Gave Millions To Summers, Emanuel, and The Rest Of The Boys n/t

[ixion]

3. exactly

[biopowertoday]

8. Its quite simple to understand isn't it.

damm.

[bridgit]

15. Yep, gave a little pile to Obama too

[L0oniX]

4. Failure

War = fail, no single payer health care = fail, continuing to bail out Wall Street and banks = fail.

Oh yea and all those who are over 65 and collect SS guess what ...you're a fucking socialist and ...oh your on "single payer health care" medicare. Fucking hypocrites!

[sam sarrha]

7. no criminal investigation of Torture, falsely starting an illegal war, exposing Fascist Corporatism,

exposing the failings/total impossibility of trickle down free market theory's working.. etc etc

[sam sarrha]

5. ...what was, is, and will always be >Link>>

http://www.buddhanet.net/wheel1.htm

"...The Wheel of Life describes the cause of all evil and its effects, mirrored in earthly phenomena just as it is experienced by everyone from the cradle to the grave..."

[asjr]

6. And we will never escape the medical mafia.

[EFerrari]

9. No kidding. n/t

[Echo In Light]

10. Remember how no one was reprimanded, fired or held accountable re 9/11?

[corpseratemedia]

11. we wont ever get out of this slump/depression

unless we find out the extent of what happened (with the banking crises at least) and fire those responsible for this fraud (really they should be in jail if any of us did something like they did on a small scale we'd end up in prison, while they get to keep their jobs)

television is a stupifying medium, i think they hope their "socialist" shit sticks. Obama, at least as far as this banking bailout and keeping a non-regulating geitner, is anything but.

[SHRED]

13. Excellent Moyers interview

---

In case you haven't seen it already:

April 3, 2009

BILL MOYERS: Welcome to the Journal.

For months now, revelations of the wholesale greed and blatant transgressions of Wall Street have reminded us that "The Best Way to Rob a Bank Is to Own One." In fact, the man you're about to meet wrote a book with just that title. It was based upon his experience as a tough regulator during one of the darkest chapters in our financial history: the savings and loan scandal in the late 1980s.

WILLIAM K. BLACK: These numbers as large as they are, vastly understate the problem of fraud.

BILL MOYERS: Bill Black was in New York this week for a conference at the John Jay College of Criminal Justice where scholars and journalists gathered to ask the question, "How do they get away with it?" Well, no one has asked that question more often than Bill Black.

The former Director of the Institute for Fraud Prevention now teaches Economics and Law at the University of Missouri, Kansas City. During the savings and loan crisis, it was Black who accused then-house speaker Jim Wright and five US Senators, including John Glenn and John McCain, of doing favors for the S&L's in exchange for contributions and other perks. The senators got off with a slap on the wrist, but so enraged was one of those bankers, Charles Keating — after whom the senate's so-called "Keating Five" were named — he sent a memo that read, in part, "get Black — kill him dead." Metaphorically, of course. Of course.

Now Black is focused on an even greater scandal, and he spares no one — not even the President he worked hard to elect, Barack Obama. But his main targets are the Wall Street barons, heirs of an earlier generation whose scandalous rip-offs of wealth back in the 1930s earned them comparison to Al Capone and the mob, and the nickname "banksters."

Bill Black, welcome to the Journal.

FULL VIDEO INTERVIEW HERE:

http://www.pbs.org/moyers/journal/04032009/watch.html

---

[nancyr]

12. They're all one and the same.

They are just playing their appointed roles, but the same entity is pulling the strings. This is definitely not the change I can believe in.

[TWiley]

24. wrong limbaugh .... preach that shit to talk radio

[TWiley]

14. The problem is with the rules, and not with those who follow them

Few will be arrested or charged because no laws were broken thanks to the deregulation accomplished by the republicans

[SHRED]

16. ..and Summers, and Rubin, and Geitner, and...

...both Parties have dirt on them.

Let's not forget that.

[slipslidingaway]

18. Both Parties!!!! n/t

[TWiley]

23. Absolutely and unequivocally wrong .... preach limbaugh to someone else young cub

reganomics trickle down bullshit is the problem and 20 of the past 28 years govt was controlled by the republicans.

Data mine much?

[slipslidingaway]

26. Whatever....obviously the Democrats have no power either

with their votes or their voices, I guess you could try and make that point if you prefer.

[TWiley]

28. blame obama, skip bush, and blame clinton ..... what is wrong with your head?

you republican apologists sound like a broken fucking record.

[slipslidingaway]

30. Stop and read n/t

[TWiley]

33. no

[TWiley]

21. wrong again

[slipslidingaway]

17. It was not just the Republicans, the Treasury Dept under Clinton

helped.

Summers, Rubin, Gensler (the current nominee for head of the CFTC) and Geithner all worked in the Clinton Treasury Dept.



http://www.pbs.org/moyers/journal/04032009/watch.html


"WILLIAM K. BLACK: Became a Ponzi scheme. Everybody was buying a pig in the poke. But they were buying a pig in the poke with a pretty pink ribbon, and the pink ribbon said, "Triple-A."

BILL MOYERS: Is there a law against liars' loans?

WILLIAM K. BLACK: Not directly, but there, of course, many laws against fraud, and liars' loans are fraudulent.

BILL MOYERS: Because...

WILLIAM K. BLACK: Because they're not going to be repaid and because they had false representations. They involve deceit, which is the essence of fraud.

[Name removed]

22. Deleted message

Message removed by moderator. Click here to review the message board rules.

[slipslidingaway]

25. Clinton Treasury supported the idea...

a few Democrats voiced their concerns at the time and they have been proven to be right.

http://www.treas.gov/press/releases/ls91.htm

"First, the Administration strongly supports modernization of our financial services laws. This round of legislation began with introduction of a Treasury-proposed bill in 1997. We have made compromises and reached out to a broad range of groups. We are up on the Hill practically every day working on this bill."


BOTH PARTIES...not too difficult to understand.

[TWiley]

27. Sorry, but you are grossly misinformed.

you sound like a rush limbaugh show ....

[slipslidingaway]

29. Read this...BOTH PARTIES n/t

[TWiley]

32. why read a lie? READ THIS INSTEAD ....

Dow ends above 8,000 in best 4-week run since 1933
REUTERS — 12 MINUTES AGO
By Edward Krudy

NEW YORK (Reuters) - Stocks rose on Friday, with the Dow marking its best four-week winning streak since 1933, lifted by robust results from Research in Motion and comments by Fed Chairman Ben Bernanke, who said the central bank will do everything it can to stabilize banks.

Growing conviction that the worst is over for the economy helped Wall Street shrug off dour jobs data showing the highest unemployment rate since 1983.

The Nasdaq outperformed other indexes, helped by a 21 percent jump in the U.S.-listed stock of Research in Motion after the BlackBerry maker, a Canadian company, posted surprisingly strong results on brisk retail demand and gave a rosy outlook after Thursday's closing bell.

"The move into technology reflects investors rotating funds into groups likely to benefit from an economic recovery, even though a turnaround in corporate profits in that sector might still be a few quarters away," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut.

The Dow Jones industrial average climbed 39.51 points, or 0.50 percent, to 8,017.59. The Standard & Poor's 500 Index rose 8.12 points, or 0.97 percent, to 842.50. The Nasdaq Composite Index gained 19.24 points, or 1.20 percent, to 1,621.87. For the week, the Dow rose 3.1 percent, while the S&P 500 advanced 3.3 percent and the Nasdaq jumped 5 percent.

S&P UP NEARLY 25 PERCENT VS. MARCH LOW

At Friday's close, the S&P 500 was up 24.5 percent from a 12-year low set on March 9, helped mainly by growing optimism that the economic slowdown is starting to moderate. The Dow closed above 8,000 for the first time since February 9 after four straight days of gains. Research in Motion, a technology bellwether, surged 20.8 percent to $59.29 on the Nasdaq, while IBM ranked as the Dow's biggest gainer, up 1.4 percent at $102.22 on the New York Stock Exchange. The semiconductor index rose 2.9 percent. Financial stocks rose after Bernanke, the Federal Reserve chairman, said the Fed will use "all of its tools" to stabilize markets.

Citigroup advanced 4 percent to $2.85, while Bank of America added 5 percent to $7.60.

An S&P index of financial companies' stocks shot up 4.2 percent. Some analysts said investors may be covering short bets on financial stocks by buying back the shares.

Wall Street received more confirmation about deterioration in the labor market, when data showed the U.S. unemployment rate hit 8.5 percent, the highest level since 1983, as employers cut 663,000 jobs in March.

The numbers, though, were in line with economists' forecasts.

Another report from the Institute for Supply Management showed the U.S. services sector shrank for the sixth straight month in March as recession-weary consumers tightened their belts.

An index of pharmaceutical stocks fell 1.8 percent, but was still up more than 9 percent from last month's lows. Among the heaviest weights on the blue-chip Dow average were Johnson & Johnson down 2 percent at $26.46.

Trading was moderate on the New York Stock Exchange, with about 1.48 billion shares changing hands, slightly below last year's estimated daily average of 1.49 billion, while on Nasdaq, about 2.13 billion shares traded, below last year's daily average of 2.28 billion.

Advancing stocks outnumbered declining ones on the NYSE by a ratio of about 2 to 1, while on the Nasdaq, about eight stocks rose for every five that fell.

Story Here: https://news.fidelity.com/news/news.jhtml?articleid=200...

[slipslidingaway]

34. And that has what to do with the topic???

[TWiley]

35. read the O.P. YOU distracted the topic

the point is that like it or not, Mr. Obama's plan is starting to work.

[slipslidingaway]

37. Great for those who have money in the market...

and I'm happy with our returns over the past month after sitting on the sidelines since late '07. Now the US needs someone to buy all the debt we need to sell.


Wonder what this guy is saying now???

Simple moving average suggests 6 to 12 more months of the bear
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=5103826&mesg_id=5103826


YOU changed the topic when you said it was all the fault of the Republicans, I said both sides of the aisle were involved.

[TWiley]

39. Republican Bastards are to blame ....... everyone knows that

Besides, you are quoting me with the link. I posted that in Feburary. It is now April which is a little more than a month later. Since then, the market may have bottomed. I am still saying (then and now) that we should see changes by late summer or early fall. If anything, my prediction then was a bit more pessimistic than it is turning out to be today. I guess I am missing your point.

[slipslidingaway]

19. Remarks from Gary Gensler - Sept 1999

"FINANCIAL MODERNIZATION" UNDER SECRETARY FOR DOMESTIC FINANCE GARY GENSLER REMARKS BEFORE THE FINANCIAL SERVICES ROUNDTABLE WASHINGTON, DC

http://www.treas.gov/press/releases/ls91.htm


"...First, the Administration strongly supports modernization of our financial services laws. This round of legislation began with introduction of a Treasury-proposed bill in 1997. We have made compromises and reached out to a broad range of groups. We are up on the Hill practically every day working on this bill..."

[Tierra_y_Libertad]

20. New boss meet the same bosses?

[TWiley]

31. Bush created this problem, and Mr. Obama IS fixing it ...... give it a chance.

Dow ends above 8,000 in best 4-week run since 1933
REUTERS — 12 MINUTES AGO
By Edward Krudy

NEW YORK (Reuters) - Stocks rose on Friday, with the Dow marking its best four-week winning streak since 1933, lifted by robust results from Research in Motion and comments by Fed Chairman Ben Bernanke, who said the central bank will do everything it can to stabilize banks.

Growing conviction that the worst is over for the economy helped Wall Street shrug off dour jobs data showing the highest unemployment rate since 1983.

The Nasdaq outperformed other indexes, helped by a 21 percent jump in the U.S.-listed stock of Research in Motion after the BlackBerry maker, a Canadian company, posted surprisingly strong results on brisk retail demand and gave a rosy outlook after Thursday's closing bell.

"The move into technology reflects investors rotating funds into groups likely to benefit from an economic recovery, even though a turnaround in corporate profits in that sector might still be a few quarters away," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut.

The Dow Jones industrial average climbed 39.51 points, or 0.50 percent, to 8,017.59. The Standard & Poor's 500 Index rose 8.12 points, or 0.97 percent, to 842.50. The Nasdaq Composite Index gained 19.24 points, or 1.20 percent, to 1,621.87. For the week, the Dow rose 3.1 percent, while the S&P 500 advanced 3.3 percent and the Nasdaq jumped 5 percent.

S&P UP NEARLY 25 PERCENT VS. MARCH LOW

At Friday's close, the S&P 500 was up 24.5 percent from a 12-year low set on March 9, helped mainly by growing optimism that the economic slowdown is starting to moderate. The Dow closed above 8,000 for the first time since February 9 after four straight days of gains. Research in Motion, a technology bellwether, surged 20.8 percent to $59.29 on the Nasdaq, while IBM ranked as the Dow's biggest gainer, up 1.4 percent at $102.22 on the New York Stock Exchange. The semiconductor index rose 2.9 percent. Financial stocks rose after Bernanke, the Federal Reserve chairman, said the Fed will use "all of its tools" to stabilize markets.

Citigroup advanced 4 percent to $2.85, while Bank of America added 5 percent to $7.60.

An S&P index of financial companies' stocks shot up 4.2 percent. Some analysts said investors may be covering short bets on financial stocks by buying back the shares.

Wall Street received more confirmation about deterioration in the labor market, when data showed the U.S. unemployment rate hit 8.5 percent, the highest level since 1983, as employers cut 663,000 jobs in March.

The numbers, though, were in line with economists' forecasts.

Another report from the Institute for Supply Management showed the U.S. services sector shrank for the sixth straight month in March as recession-weary consumers tightened their belts.

An index of pharmaceutical stocks fell 1.8 percent, but was still up more than 9 percent from last month's lows. Among the heaviest weights on the blue-chip Dow average were Johnson & Johnson down 2 percent at $26.46.

Trading was moderate on the New York Stock Exchange, with about 1.48 billion shares changing hands, slightly below last year's estimated daily average of 1.49 billion, while on Nasdaq, about 2.13 billion shares traded, below last year's daily average of 2.28 billion.

Advancing stocks outnumbered declining ones on the NYSE by a ratio of about 2 to 1, while on the Nasdaq, about eight stocks rose for every five that fell.

Story Here: https://news.fidelity.com/news/news.jhtml?articleid=200...

[underpants]

36. Geitner (and Paulson) decided it was easier than scrapping the whole system & starting from scratch

plus it brings capital back in without going through the step of taking all assets and then selling them back off.

I posited the idea that the delay wasn't due to "stress tests" being complete but rather that there were negotiations going on-I was rebuffed for stating that here on DU.

Not that I like it mind you but that is my read on how this went down. :shrug:

[LWolf]

38. Good question, and good points. nt