You just cannot make this stuff up. Or if you can, you’ve got a best selling book, I suppose ala Orwell and Kafka.

Jamie will be feted by the committee and given the very first “Wall St Failed Whale” award to show their appreciation for all Jamie’s contributions to fucking up the world economy.

Then he’ll go have dinner at the White House since he’s BFF with Obama.

Most of them did in 2006 and 2008. It didn’t seem to matter, so most of them stayed home in 2010.

“the Treasury Department have limited ability to ensure that the rule properly follows from the legislative mandate”

Remember, Timmy is not now and has never been a regulator! (Such truth, from the mouth of a career liar, it must have been a moment of weakness.) No matter what job he holds, he’s sure as hell not going to enforce the law! That’s for “regulators”.

I think it comes down to a matter of style on how the DC Democratic party and the DC Republican party will handle these issue with their voters:

Republican voters like violent direct action – remember to bring your leather, whips and chains – you’ll know campaigning and voting is over when you hear the safety words “fuck you – I got mine”.

Democratic voters like to be seduced with nice speeches, slogans, and warm fuzzy thoughts about making the world a better place only to watch your candidate act to the right of Ronald Reagan. You’ll get nice flowers and an apology card at the start of the next campaign season.

Do you mean again? Or is the answer to your question negative three years?

Does this mean I have to endure another round of crap like this:

“Hey, don’t you realize it was the Community Reinvestment Act of 1977 that caused all this mess?”

You don’t know how many times I had to hear this non-sense over the last four years. Yeah, yeah, yeah, a thirty year old US law made the WORLD ECONOMY and WORLD BANKING collapse when all the real evidence is that loans made to CRA standards performed better.

Or another oldie and moldie:

It’s too much government regulation!

Sure, despite the fact that we didn’t have these economic implosions while we had stronger regulation after the Great Depression, and now we have this mess after nothing but thirty years of deregulation.

And the all time champ of stupid:

We have to cut taxes to fix this!

Hey, we’ve been “cutting taxes” since Reagan, by now we’re supposed to be rolling in jobs and all wealthy as all get out. No? Or like Bush, we had to cut taxes because we’re paying down the Federal debt too fast and then we have to cut them again because the Federal debt was growing too fast, and then we have to cut them, well, just because Republicans cut taxes for the rich, that’s what they do.

But I digress…

It’s OK Cory, Obama is nauseated too, he just can’t say it.

After all, Jamie and Obama are BFF.

SCOTUS will smack this down faster than you can say “The Roberts Court is fair and balanced (just like Fox News).”

SS cuts are the third rail. If the Democratic party lead by Obama goes there, they will lose big time.

This WILL get ugly.

Tell the banks what was obvious in 2008:

You made shit deals – the money is gone – write it off.

These countries are NOT going to bail out the banks.

This was obvious in 2008 when the “shit” hit the fan,

Now, it’s so obvious it’s like getting hit by a maul between the eyes.

BREAK UP THE FUCKING TBTF BANKS!

THROW THE GD CEOS IN JAIL!

START WITH THAT SHITHEAD JAMIE DIAMON!

Sour grapes for people that have salaries attached to real inflation?

Or just plain everybody should have shitty jobs because WalMart greeters are now Middle Class?

Or is it only the fabulously wealthy people on Wall St that crashed the world economy that really deserve tens of millions every year?

What’s wrong with hard working people earning good money?

Jamie should not only be tossed out of the Fed board, he should be tossed out as CEO and sued by the shareholders to get his “compensation” back since 2008.

He ran that bank into the sewer.

Canadian banks rated safest in world:

http://www.cbc.ca/news/business/story/2012/04/11/moodys-canada-banks.html

Do you know why Canadian banks are considered among the world’s safest? Because Canadian banking regulations don’t allow them to pull the same derivatives bullshit as JPMorgan.

Mitten’s will spin it as the FAULT of too much regulation, and the MSM will lap it up.

Gee, it’s such a shame, Prop 13 has done nothing but increase the wealth and prosperity of all Californians along with freeing them from the shackles of a useless state government.

NOT!

California had the best university and state college system in the world which was the foundation of Silicon Valley and California’s high tech industry. At one time the goal of the UC system was to provide a FREE education to those citizens of California that were qualified (similar to in Europe, and much of the rest of the developed world). Then along came a Governor named Reagan, and Prop 13, and now California enjoys the benefits of being a third world country in all but name only.

The suspicion going around is that the real loses are FAR higher than Jamie has let slip (I have seem estimates as high as $18B). Plus, as the ratings agencies downgrade JP Morgan, even more derivative clauses could kick in causing even more loses. Rumor has it Jamie is starting a public campaign of mea culpa to get another huge bailout from the taxpayers.

If the Obama Whitehouse is seen to be bailout out another failed TBTF bank this close to election day, he’s going to lose a whole lot of votes.

The Whale Trade obviously shows that the FIRE sector is still out of control and will still wreck the world economy AGAIN unless there is real and significant change. Occupy the SEC (http://www.occupythesec.org/) has been very active supplying pointed criticism to the implementation of the Volcker rule. Still the Volcker rule is seriously compromised, at this point, due to the lobbying by the terrorist bankers.

If we get a second chance at this, my choice would be to implement Glass-Stegall AGAIN. It has a proven track record, is very short (36 pages) compared to the loophole ridden monstrosities currently being passed such as Dodd-Frank. And one other change, when Wall St or the TBTF banks propose some new financial twist which is not mentioned by the law – TELL THEM IT’S ILLEGAL. This whole discussion about how Wall St is always one step ahead of the regulators is bullshit put out there by both the regulators and Wall St to support their continued fraud and corruption.

Nice post!

As always, I am hopeful, that turmoil and change become opportunities for humans to create a better world. The Arab Spring, Iceland, OWS, the recent EU elections throwing out austerity, these Incorrigibles who refuse to be subjugated and subdued by those who are corrupt, those who have destroyed our economy and society, and those who seek to steal our freedoms.