We know the TARP monies were a mistake. Recently in an article in The Miami Herald there was a story about the corrupt mechanisms of Goldman Sachs. They would say they are allowed 'corporate privacy' while in reality it is far easier to act in corrupt ways if there is no solid way for the public to identify it. Is this really corruption or a 'spanking new way of making money.' Both. That is what corruption is and when Goldman decided to lump the American Dream into a 'Goldman Sachs Bond Fund' it is corruption. Plain and simple.
The 2009 elections are in 'reaction' to 'government spending' that the electorate is made to believe they have to fear. There should not be improvements to roads and bridges as dying due to their collapse is simply part of living after all.
The public is lead to believe any government intervention with the health care insurance industry will cast them into the Third World and they should fear that.
The idea that appropriating monies through the American Recovery and Reinvestment Act that 'props up' unemployment benefits and COBRA benefits is fiscally irresponsible while dropping billions into the laps of Goldman Sachs is prudent. Really?
The people of the electorate actually believe the investment banks they bailed out will actually reimburse the USA Treasury with a windfall profit at 7%. Not likely.
The electorate of 2009 believes creating credit for small businesses should be left up to the capitalists of Wall Street. Right.
The electorate of 2009 has been propagandized and will likely NOT be a reflection of the electorate of 2010.
Happy voting everyone.
How Goldman secretly bet on the housing crash (click here)
By GREG GORDON
McClatchy Newspapers
WASHINGTON -- In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.
Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation's premier investment bank to pass most of its potential losses to others before a flood of mortgage defaults staggered the U.S. and global economies.
Only later did investors discover that what Goldman had promoted as triple-A rated investments were closer to junk....
Voters stream to polls in municipal election (click title to entry - thank you)
November 3, 2009 02:40 PM
(Aram Boghosian for The Boston Globe)
By Andrew Ryan, Noah Bierman, David Abel, and Brian MacQuarrie, Globe Staff
A steady stream of voters trekked to the polls today to vote in Boston's most competitive mayor’s race in 16 years. Precincts were particularly busy in the Neponset section of Dorchester, West Roxbury, Mattapan, and Jamaica Plain....
...People walked with dogs and baby strollers to the polling place inside Cathedral High School Gym in the South End, one of Boston's most diverse neighborhoods where the words "vote here" were posted in English, Spanish, Chinese, and Vietnamese. One voter, Richard Shibley, cast his ballot for the incumbent.
"The city works," said Shibley, a 50-year-old computer consultant. "If someone's doing a bad job, four years is too long. If someone's doing a good job, keep them in the job."...
