Caroline Calais -- Democracy in Americas

2008/9/21

The Trillion-dollar Bailout - How Wall Street Took your Money and Ran

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@ 05:18 PM (14 months, 7 days ago)

            “Nothing will ever be like it was before. The world as we know it is going under”, Wall Street broker James Allroy said Thursday in Der Spiegel. Good, it is about time, we don’t want to live in a world where we are constantly getting “Enroned”. It is one thing that we have to live with the instability created by policy- and technology innovations, another that we have to deal with gambling, greedy, foolish, amoral people selling stock they borrowed from someone expecting the price to fall, or worse, selling stock that does not exist because they never got around to borrow it.

            Enough already. Longtime investment counselor David Smick says: “Our leadership must reform today’s dangerously flawed financial architecture. It is a tale of greed, hypocrisy and sheer folly”. A world in where the young brokers and investment bankers created their own private markets.

So I am glad, Mr. Allroy, that the world as you know it is going under, but furious that we, the taxpayers have to foot the bill. It is time we stop being enablers and demand accountability.

             

           

Comment(s) »

  1. Oh come on Caroline. NOT you too .

    Comment by jim— 2008/09/21 @ 07:11 PM — (Reply)

  2. The Fundamentals are strong ! Its been Abused by the leadership and those who advance through the Ranks !

    Comment by jim— 2008/09/21 @ 07:15 PM — (Reply)

  3. I agree. The bail-out is nessecary to stabilize the financial system, but the people involved should be made accountable. Where is the "protestant ethic" that once founded this country, the idea that every American must be a moral caretaker of his/her country?

    Comment by Caroline— 2008/09/21 @ 09:31 PM — (Reply)

  4. Thanks for switching to English Caroline. I agree that it's time to stop the taxpayer ripoff in this country.

    BG

    Comment by Barry G.— 2008/09/21 @ 07:25 PM — (Reply)

  5. furious that we, the taxpayers have to foot the bill. It is time we stop being enablers and demand accountability ! TRUE, TRUE, TRUE ! RIP THE GOLDEN PARACHUTE ! MAKE THOSE WHO DROVE IT TO THE GROUND SUFFER AS WELL !

    Comment by jim— 2008/09/21 @ 09:20 PM — (Reply)

  6. You all are "FORGETTING" THIS WAS STARTED by Alan greenspan at the "INSISTANCE" of Bill Clinton. Democrate in white House. All "AGAINST" the warnings from out going "CHAIR" (R) ....that this (failure) would be the result. The actions of Bill Clinton and Greenspan were to ignore the "HISTORY" of the 1929 stockmarket crash which resulted in the laws that Clinton/ Greenspan reversed ! So "GUESS" what ???????? that makes this a "DEMOCRATE" CAUSED FAILURE !!!!!!!!!!!!

    Comment by aza spade— 2008/09/22 @ 07:45 AM — (Reply)

  7. I so agree with you.

    Comment by palm tarot reading— 2009/01/05 @ 12:27 AM — (Reply)

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