Kuttner Tells It Like It Is… Your Government Is Going To Give You An Enron Screwing

Robert Kuttner takes apart the Obama plan to rescue the rich with Tim Geithner’s and Larry Summers’ new plan over at Huffington Post.

A nice summary…

If this all sounds vaguely familiar, Geithner’s Treasury, with no sense of irony, is offering a reprise of the several abusive and opaque gimmicks that produced this crisis, a tour that winds back down Memory Lane, from AIG to Enron.

The Lion just loves the bit where Kuttner says the Geithner gang wants to take some of the money for this from the FDIC, the only agency that is behaving rationally and competently as banks fall all around the country, and that is running out of money. Note that the FDIC folks are the ones who can do the most to protect your money in the banks. Timmy and Larry are dedicated to protecting their old buddies on Wall Street, and neither has demonstrated that he has a clue about Main Street.

Obama’s intentions are being subverted by the Old Rich Boy network on Wall Street that is apparently actually running the country. And they don’t give a flying goddam about the country.

Maybe those outraged citizens parading around in front of AIG ought to start thinking about picking up some bricks and taking down some windows and some fancy cars, because the so-called Big Boys need to have their dicks shrunk with some of the fear pervading the Main Street where the Little People live.

The Lion notes the stock market has gone up a thousand points in two weeks. Not surprising since so many stocks are so cheap. Not surprising since the government keeps saying in effect that it will protect shareholders and will finance a giveaway of taxpayer money to any of the Wall Street/Hedge Fund/Old Boys/Rich People’s network who like privatized profit and socialized risk for themselves while they piss on the peons who work for a living and provide the tax money that keeps the rotten bastards afloat in champagne and yachts and fancy cars and expensive whores. You can bet your shrunken pension they are just drooling at the thought of getting their hands on taxpayer money. Hence, the rise in the stock market, which, by the way, is not the economy.

To quote the famous, the notorious, the devoutly perceptive Evo, “We’re fucked.”


6 Responses

  1. I have to say, we’re fucked.


  2. By the way, I’m I just even more paranoid than I think I am? How is it that the stock market has a couple of strong weeks, Citibank claims they actually made money in the 4th quarter and the government claims that housing purchases went up 5.1% last month – all shortly on the heels of the Obama administration concerted efforts to get a rosy psychology going in the minds on consumers?

    To quote McBama – “the fundamentals of our economy are strong”. To quote the famous, the notorious, the devoutly perceptive Evo…

    Well, we are back to the beginning, aren’t we?


  3. Actually the FDIC is in on the stupidity too. Just up the road a way from you East Bridgewater Savings was punked by FDIC for not lending more money. They currently have 28 cents on the $ out in the community whilst comparable banks sit at 90 at least.


  4. To quote the famous, the notorious, the devoutly perceptive Evo, “We’re fucked.”

    Evo is perceptive, notorious, and perhaps even famous. I didn’t know there was anything the least bit devout about him, though.


  5. I dunno. He seems devoutly perceptive and notorious.


  6. Groan.


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