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SENTRY JOURNAL » capitalism, Chris Dodd, Democrats, Financial Meltdown, Financial Reform, Free Market, John Carey, thecurrent » Financial Reform: How to Manipulate the Mob

Financial Reform: How to Manipulate the Mob

How many of you recall when Rahm Emanuel stated that you should never let a crisis go to waste?  When you really dig down into that statement it’s actually quite frightening.  He made this statement back in 2008 and his basic belief is a crisis allows us the opportunity to do things we could not do before. 

The below clip aired in 2008, of Rahm Emanuel talking about never wanting a serious crisis to go to waste.  You know like the so called healthcare crisis we were all experiencing.  They sure didn’t let that perceived crisis go to waste.  They passed one of the most intrusive, liberty stealing, unconstitutional law this nation has ever seen with zero bipartisan support.  Completely ignoring the will of the majority with little or no open floor debate, Nancy Pelosi and her gang of progressives rammed it through.  Now once again we’re facing a perceived crisis in the financial industry.  And just like the healthcare crisis, special interest groups are lining up to throw their support behind the bill.  Even Wall Street supports this so called crackdown.  Have you ever asked yourself why?

Well I have and let me tell you the rabbit hole runs deep with this one.  The simple answer is that Wall Street knows that the writing is on the wall and there is little they can do to win over the public.  The politicians that created this mess have managed to shift the majority of the blame on Wall Street and it was easy to do.  Why was it so easy?  First off Wall Street is an easy target.  When people think of Wall Street, shameless bankers sticking it to the little guy usually comes to mind.  This administration has successfully convinced the uninformed or misinformed public that banks are evil and that they caused the meltdown.  The average person could care less about derivatives or short selling; they’re looking for the easy explanation they can relate to.  So throw in some words like Wall Street “Fat Cats” and “Evil Bankers” and the masses are satisfied that banks are bad and more regulation is good; even though this regulation will span across all banks to include the smaller ones.  And oh yeah, those smaller banks will be the ones that suffer the most.  Yes that’s right those same small banks that fund dreams, like small businesses, car loans, and mortgage loans will be forced in the same boat as Citibank, Bank of America, and Wells Fargo.  And guess which banks have the ears of the politicians.  Now some will say that I’m selling the public short and I’m insulting their intelligence, but I believe I’m pretty much spot-on with this observation.

The reason I say this, is for the most part it is easier to buy into the lie than believe the truth.  The lie takes us to a place where the elected officials are looking out for our best interests and they’re trying to do what is best for us and the nation.  We all want to believe this, so most of us just do.  They reinforce their lie by parading out all those evil investment bankers in circus like atmosphere in front of Congress to explain their actions.  We can now see the enemy and cheer on our representatives for standing up for the middle class.  The inquisition becomes a series of talking points that can be used by the politicians during their next run for office.  Timing is everything.  Now if we only had a mini crisis to speed the process along.

Well look here, the stock market plunged 1,000 points in a few minutes.  Was it because of a computer glitch or a fat finger mistake?  Was it because of Greece in the financial meltdown they’re experiencing?  Well the truth is no one really has pinned the tail on that donkey, but it really doesn’t matter.  The perception of the crisis has been achieved and now we must act.  Why just a few days ago Senate Banking Chairman Chris Dodd (D-Conn.) stated, We need to get in place our bill, have the president sign it, so we have the tools to protect our economy from these kinds of events.”

What kind of events Mr. Dodd?  The stock market plunge that no one has a good explanation as to why it happened, or the taxpayer money going to Greece through the IMF to help bail them out?  He further went on to say, “We would have a set of eyes, not just one set of eyes, at the Federal Reserve looking over the horizon.”  How can an extra set of eyes prevent what happened last week?  This event happened in a few moments.  Additionally how can a piece of legislation address a problem that no one really understands the cause behind it?  You see like I said it really doesn’t matter.  The crisis is perceived and the people are anxious.  Don’t let it go to waste.  Timing is everything.  Push the financial reform bill through and if the Republicans try to slow it up, come out and say that they are in bed with the Wall Street “Fat Cats” and don’t care about what happens to our money or economy.  Make them appear as if they are the enemy of the middle class, even though it was the Democrats who lined their pockets with Wall Street dollars.  It’s a strategy that has worked for the Democrats for a long time; because they can create the illusion that they’re actually against Wall Street and for the middle class.  And this strategy works because it’s all about appealing to your emotional side.  The Democrats are masters at it.

By the time the Republicans react with the facts, the sale is complete.  You have your crisis and now the opportunity to affect change can occur.  They have managed to successfully manipulate the mob with a few well placed lies, a congressional side show, and a perceived crisis.  All we’re missing now is some torches with pitchforks to storm the Wall Street castle.

Watch Rahm Emanuel below.

Folks the Democrats have gotten away with demonizing our capitalist system for a long time.  They have actually managed to create an environment that doesn’t foster confidence in our system, but plants the seeds of doubt about it.  Trust me this system is working for a select few.  The same select few who are writing bills that benefit themselves and Wall Street at the expense of the free market system and the taxpayer.  Don’t fall for this because the beauty of our free market system is that anyone can succeed if they come up with an idea and obtain the backing to implement it.  The only thing this bill does in my opinion is protect the established while further dismantling our free market system.

These companies are banking on you to bail them out the next time they make poor decisions.  The free market system isn’t as forgiving.  And that’s exactly why they support this bill and that’s why you should oppose it with every ounce of energy you can muster!

Liberty forever, freedom for all!

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Filed under: capitalism, Chris Dodd, Democrats, Financial Meltdown, Financial Reform, Free Market, John Carey, thecurrent

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Comments
  • LD Jackson May 11, 2010 at 4:43 AM

    Good post, John. There is entirely too much up in the air over this legislation. Too many rumors and not enough facts, as it were.

    Personally, I am of the opinion that some kinds of controls need to be used to prevent another fiasco like we had during the meltdown. However, I am not at all sure what those controls should be and I am certainly not comfortable with people like Chris Dodd having their hands in the middle of it. There is way too much baggage there for my taste.

    Where I really think there is a need for some kind of controls is with the derivatives market. It is mostly unregulated and I think we have seen the result of that. It may not sound like capitalism to say this, but greed really did get the best of that market. The traders were making money off products they didn't even own and off products they were betting to fail. That seems to be a far cry from actual investment in companies and much closer to making a quick buck by gambling. I have to say, I am not comfortable with that at all.

    This legislation may not be the answer, but I think there is a need for something to prevent that from happening again.

  • TRESTIN MEACHAM May 11, 2010 at 4:43 AM

    I love watching Mr. Obama lay into Goldman. How many member of his cabinet came from Sachs? They are getting away with this because of the reason you mentioned. Most people have no idea what is going on, despite it's public nature.

  • Dominique May 11, 2010 at 8:59 AM

    This connection to Golden Sachs is starting to really irritate me. Talk about paybacks. And now word has it that Kagan was on the advisory board when it all hell broke lose and we want her on the highest court of our land. Come on!

    Great job on this article. Well done!

  • John Carey May 11, 2010 at 6:31 PM

    Thanks for the comments Larry.

    I agree with you that there needs to be some regulation, but not a complete overhaul. When it comes to our free market system the less week regulate, the healthier it is. You will always have your rotten apples; however the overall integrity of the system is sound if we just let it be what it is suppose to be.

    SEC was on duty when all this short selling and derivatives nonsense was going on. They were supposed to be the watchdog to make sure it didn't get out of control. The only thing they watched was internet porn.

    You see we have the tools in place, we're just not using them. Kinda like our immigration laws. If you want true financial reform why not start with Fannie Mae, Freddie Mac, and the Federal Reserve. Let's audit their books. I bet that rabbit hole runs extremely deep.

  • John Carey May 11, 2010 at 6:36 PM

    Thank Trestin.

    When it comes to finances and Wall Street most people are completely lost so they look for the "experts" to answer their questions. Unfortunately the politicians in bed with these organizations are not the experts. Additionally why hasn't anyone connected the dots about these politicians having a serious conflict of interest when dealing with these firms. Anyone who has received money from any of these firms should do the honorable thing and step back from the debate. Oh wait I said honorable…well that's not going to happen.

  • John Carey May 11, 2010 at 6:38 PM

    Thanks for dropping by Dominique. I hope to see you more. I'm telling you, while we are distracted with everything else, from the EU crisis to Arizona, Congress is trying to pull a fast one with this bill. We need to keep our eye on the ball.

  • LD Jackson May 11, 2010 at 7:21 PM

    John, I would wholeheartedly support the idea of auditing those books. It would make for some interesting reading for those who could understand them and it may very well give someone some major heartburn.

  • John Carey May 11, 2010 at 7:55 PM

    I agree Larry. I think we would all be shocked if we took a look at their books.