Brother, Can you Spare a Country?

One of the more frightening reports regarding this economic crisis has been that banks have refused to lend to one another because they do not trust that they would be paid back. Three months ago, the Administration was saying that everything was fine. This was just a glitch, and the fundamental economy was strong. What the F can you do in three months to completely cause a potential Global Catastrophe? All the signals are pointing to the Administration once again listening to lobbyists that are fighting to keep the government from imposing regulations on Wall Street. Politicians can no longer tell the truth, that is quite evident. They have been lying about the extent of the crisis for a year in the “hopes” that people would never find out. The system no longer works! We have to start over with new people. If it does not happen in this election cycle, I truly think we will see a meltdown of our complete way of life. This is not just a worst-case-scenario. That is a reasoned reality. The lawmakers can't even trust each other anymore, how are we, the
people, supposed to trust them now? It really is starting to feel like the end of an idea called The United States because it appears that it has been deemed we no longer know what is best for us and they do not trust each other, that is just great, was the whole thing, this USA,one big fraud from the beginning.
Then I wake to find out WaMu has been "seized" in the night along with all the assets and the shareholders are "out" WTF? A confidence crisis? They had better get their shit together before people start going for their lanterns and pitchforks!

After McCain said that he was headed back to Washington to “help” with the bailout package, most in Congress cringed. One (Republican, no less) Senator stated “He had spoken to Sen. Obama on the phone more in the last week, than he had spoken with Sen. McCain in the last two months”, This really illustrates a point I made earlier; John McCain is just to far behind the times to be an effective leader in the 21st Century. All of a sudden, McCain figures out, on Wednesday, that something is going on in Washington and I had better get there to say me too. Meanwhile, Henry Paulson, and Senate leaders are saying they have had ongoing contact with Obama via telephone and video conferences.

German Finance Minister Peer Steinbrueck said one outcome of the crisis would be a less dominant role for the United States in the global financial system. "The United States will lose its superpower status in the world financial system. The world financial system will become more multi-polar," he said.
He joined a growing chorus of international politicians who have blamed the United States for spawning the global financial crisis with a blind drive for higher profits and insufficient market regulation.
In decrying the lack of government regulation, France’s President Sarkozy joined a broad spectrum of European leaders and commentators who have interpreted the financial crisis as a death knell for the current financial markets and banking systems. Their comments sometimes have betrayed an "I told you so" sentiment, after years during which U.S. officials suggested that many of Europe's economic problems stemmed from an excess of regulation and government intervention.
French banks, in particular, have less to worry about than their U.S. counterparts, French officials have said, in part because regulatory powers are stronger in Europe than in the United States and the banks are less exposed to bad loans. The appropriate degree of state intervention in banking and financial dealings also has been a frequent subject of disagreement within the European Union. Those advocating more controls clearly have gained the upper hand for the time being.
"Self-regulation to solve all problems, it's finished," Sarkozy said. "Laissez-faire, it's finished. The all-powerful market that is always right, it's finished. . . . Self-regulation is sometimes insufficient. The market is sometimes wrong. Competition is sometimes ineffective or disloyal. It is necessary then for the state to intervene."


Some form of a crisis plan is needed (let us stop calling it a bailout for a while) that is one thing that seems perfectly clear. What is also becoming even clearer is the fact that Wall Street/Banking cannot be the overseers of the plan, and Congress is just to corrupt to watch over this as well. These are some ideas that I have found from everyday people that could work.

1] FED cannot receive any of the proceeds, which must be directed in total to Banks for their mortgages;
[2] No government agency can administer/manage the Assets;
[3] A Selection Committee of "say" Jack Welsh, Donald Trump, Warren Buffett, Steve Forbes and Bill Seidman will "select" 5-10 professional property management firms to handle the mortgaged properties.
[4] Property mgm't contracts will be incented for maximum returns to the "taxpayers". Additional rewards will result from competitive standings of the actual returns from each firm;
[5] Any fraud found during the asset procurement & sale cycle must be prosecuted. Greed, which threatens America, can no longer go unpunished! Enforce Title 8 and Title 11 of Sarbanes/Oxley.

I keep harping on the fact that lobbyists have caused so much of this problem. Here is what will (and should) happen if things do not turn around soon. People in Washington D.C., the real people not politicians, will have less than they already do. Anger and resentment will increase. What I would like to see is that anger focused. Take your rage out on “K” Street, burn it to the ground, flush the lobbyists out like the vermin they are. If we do not GET RID of lobbyists, Congress will remain corrupt and there will be a Global Economic meltdown. People will be on the street, begging, “Brother Can you spare a dime”, and they will look for revenge. And I will be there with maps to “K Street”…