Blog on the Run: Reloaded

Wednesday, April 28, 2010 5:32 am

Quality government ain’t cheap

It looks like the cost to taxpayers of getting Sen. Ben Nelson, D-Neb., on board with the Democrats’ finance-reform bill — that is, getting him to vote for a cloture motion and break a GOP filibuster — may be an $8 billion gift to Nebraska’s richest man, Warren Buffett. Warren, pal, you’ve been on the side of the angels before, but on this one, you’re just one more bankster.

(If this bill were actually going to prevent another big economic failure, I’d say it was worth it. But it doesn’t go nearly far enough to do that.)

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Friday, December 11, 2009 10:35 pm

You can tell they’re whores by the whorin’ they do

Filed under: I want my money back. — Lex @ 10:35 pm
Tags: ,

So HR 4173, which is supposed to reform finance, passed by a wide margin today. But the devil is in the details, particularly this one: certain industries that are supposedly not a threat to the larger system if they fail are exempt from regulation. Among them: hedge funds.

No. Really. Hedge funds. Like, oh, say, for example, Long Term Capital Management.

Yeah. Ain’t that cute? The same line of work that blew up the economy and created a big chunk of the current mess we’re in, and just one of which came close to doing the same damn thing a decade ago, is exempt from regulation.

It’s the banks’ world. We just live in it.

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