I love this…

I love this line of thought by people like Greenspan

In his Georgetown speech, he entertained no talk of regulation, describing the financial turmoil as the failure of Wall Street to behave honorably.

“In a market system based on trust, reputation has a significant economic value,” Mr. Greenspan told the audience. “I am therefore distressed at how far we have let concerns for reputation slip in recent years.”

Honorable? Trust? I mean, are you kidding me? There have to be freaking consequences if you want accountability. There are none. No one is sent to jail. No one is hanged in the public square. No one is stripped of their riches. Nothing happens to them. So where is the code of honor needed? Such a joke this concept. Honor? Like they are going to kill them selves with a sword in the belly when they screw hundreds of thousands of their own countrymen.

Please, Trust? There is this pie in the sky, John Wayne attitude that the good guys aka the good businessmen, will stand up to the bad guys. Uh, yep, that’s worked so well. See the aholes aka the not honorable businessmen have figured out how to keep the “good guys” happy and unwilling to screw up the good thing they have going for themselves. Give them just enough money to make them happy then they don’t give a rat’s ass as long as they are getting theirs.

Fuck you and your Honor and Trust Bullshit. In God We Trust and that’s where and with whom it should fucking end with when it comes to our money.

“Risks in financial markets, including derivatives markets, are being regulated by private parties,” he said.

I could scream. REALLY? Oh, wait, sorry (insert sacrasm) you mean the guys getting rich are (holding back falling out of my chair from laughter) are (damn, fell out) regulating themselves. ahhhhhhhhhhhh, sorry your honor.I(picture crawling back into chair) Proceed…

Oh hey look in 1994 under Clinton, someone tried to regulate something….

Mr. Markey introduced a bill requiring greater derivatives regulation. It never passed.

oh, look it didn’t pass. Gee who was the party in power then? Newty…what a swell guy. Must have been around the time he was leaving his 2nd wife for dead.

Mr. Greenspan said that Wall Street could be trusted. “There is a very fundamental trade-off of what type of economy you wish to have,” he said. “You can have huge amounts of regulation and I will guarantee nothing will go wrong, but nothing will go right either,” he said.

Isn’t Greenspan a student of Milton Friedman?

Ahh fuck it. It’s only our country we are talking about. Pssst…Obama is black