The following excerpt is taken from page 6 of an award winning article in the National Review Online, titled: Repo Man, dated December 19, 2011/written by — Kevin D. Williamson, deputy managing editor
of National Review.
Williamson describes, in some detail, the nature of the existential threat to this nation, and what Big Money is doing to reel in the raging conservative opposition. Problem: for a time, Big Money Managers, bitch-slapped by the Obama Administration over and over again, and tea-party conservatives must be united if the nation, as we know it, is to survive. After the election (November 6), we can resume our "normal" calling(s): you know, lying and cheating each other silly.
Williamson describes, in some detail, the nature of the existential threat to this nation, and what Big Money is doing to reel in the raging conservative opposition. Problem: for a time, Big Money Managers, bitch-slapped by the Obama Administration over and over again, and tea-party conservatives must be united if the nation, as we know it, is to survive. After the election (November 6), we can resume our "normal" calling(s): you know, lying and cheating each other silly.
" . . . . . The bigger problem is that while MF Global was both acting as a broker for its customers and making its own bets, it failed to keep the customers’ money segregated from its own, which is why some $600 million in customers’ money went missing. Now there’s a whole bunch of people wanting to get paid back and not enough money for everybody to get made whole, and the big Wall Street banks want to make sure that they’re first in line, with the government rewriting the rules of bankruptcy to put them ahead of the local-yokel customers out in the sticks. If you don’t think that the government can just arbitrarily rewrite the bankruptcy rules to suit its political preferences, revisit the General Motors bailout, when it did just that, shortchanging bondholders in favor of the union goons who act as Democratic footsoldiers and dues-collectors.
“At the risk of oversimplifying it,” one Wall Street insider
explains, “imagine a bank went bankrupt. Then the regulators came in and
cracked open all the customers’ safe-deposit boxes, even though they knew for
certain that none of the contents belonged to the bank. Then they tossed those
assets into the pile for the creditors to pick through and told the box holders
to get in line as well. That’s what folks are saying is happening here. And in
a situation like that, who wants a safe-deposit box?”
So there you have it: hedge-fund titans, i-bankers,
congressional nabobs, committee chairmen, senators, swindlers, run-of-the-mill
politicos, and a few outright thieves (these categories are not necessarily
exclusive) all feeding at the same trough, and most of them betting that Mitt
Romney won’t do anything more to stop it than Barack Obama did. If anything,
the fact that Romney is having the least luck with the firm that knows him best
speaks better of him than does the enthusiasm he apparently inspires in Goldman
Sachs et al. . . . . . . . Either way, the last thing Wall Street wants is for the
Corzine scandal to launch a new round of frenzied outrage out there on the
fruited plains where dwell people who don’t know an IPO from a CDS, and who
might suspect that something here is not entirely on the up-and-up. They’re
hoping that conservatives can be buffaloed with a bit of cheap free-market
rhetoric into not noticing that something is excruciatingly amiss here. They
are the repo men, headpiece filled with subprime-mortgage derivatives, and they
are looking to repossess the Republican party they abandoned in 2008 (see
“Losing Gordon Gekko,” National Review, March 9, 2009)."
They never 'abandoned' it, it's still theirs, as Romney's nomination over dozens of better candidates proved.
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