Well here’s a shock. Lloyd “my company should have died in 2008 but was bailed out by the taxpayers” Blankfein doesn’t think there’s a place for free markets. I wonder why?
We’ve been talking about this for a very long time. The play from the Wall Street banks, you know the ones you and I bailed out and kept alive after they leveraged themselves to oblivion, is to sew up the 2016 presidential contest early.
Well she’s been doing the rounds for a long time already. 29 of the Dow 30 have already sent checks her way. But more money is coming.
I wonder what our friends on the legitimate Left are going to do about this? In the end probably vote to perpetuate crony capitalism I suspect.
As we’ve said before, many interests are very keen on seeing a Hillary/Jeb or Christie or Romney race in 2016. For the crony class it will be a win either way.
Charles Hugh Smith examines this important but often neglected question. Really, who does benefit from a bust?
I hate the term “perfect storm” but the attached article makes some great points about bank exposure to energy prices.
It should be noted that Charles Hugh Smith nailed it a month and a half ago; he said, “The 35% drop in the price of oil is the first domino.”
Another excellent article from Tim Carney. If you really want to understand the politics of the Export-Import Bank you need to read it.
Not renewing Ex-Im is a good start. But just a start. (And we’re not even there yet.) The bank is just the first of the crony programs which need to be unwound in the months and years ahead.
David Stockman asks this question, though he knows the answer.
That constellation of trillions of dollars of credit derivatives which floats around the globe? The one generated by the big banks? Looks like we’re now the ones responsible for them when they come crashing through the atmosphere.
For the bankers the main issue is who will keep the current implied bailout regime in place? Who will let the Federal Reserve do what it does without criticism? Who will keep the light from shining on them? Who won’t question the current system of debt piled on debt piled on debt. Who will happily do The Street’s bidding?
Hey Hillary, you’re “pragmatic.” You look pretty good. Here’s $100 million. Now go knock em’ dead.