BankerWatch 2008

I’m getting to the point where I’m actually starting to track the guys who are primarily responsible for this awful financial mess, and. though there’s a lot of bad news, there’s also a lot of not so bad news. I rate any story where a banker doesn’t give the proverbial finger as a “good” story. I’m not advocating violence against people in the financial industry, but I’m surprised when it doesn’t happen.

Bad News

• IndyMac colludes with regulators to raise their financial rating before the bank collapses (May 9, 2008)
• Taxpayers foot the bill for Bank of America to absorb Merill Lynch (September 15, 2008)
• Paulson flips congress the finger with 3 page bailout request for 700 billion dollars with sole authority (September 20, 2008)
• 52% of Banking Bailout to go to bonuses (October 30, 2008)
• AIG gets 150 billion dollars of sweet, sweet bailout and can’t turn a profit (November 10, 2008)
• Citigroup comes back, crying for another 20 billion dollars (November 24, 2008), Against the wishes of most New Yorkers (November 26, 2008)
• Bernie Madoff rips off investors to the tune of 50 billion dollars, right through the pants (December 11, 2008)
• The Fed gives the finger to Bloomberg News as to where bailout money is going (December 12, 2008)
• No accounting for bailout funds (December 22, 2008)

“Good” News

• Lehman CEO knocked out cold in fitness club (October 6, 2008)
• Democratic landslide due in part to economic downturn (November 5, 2008)
• HSBC banker found hung in hotel room (December 21, 2008)

Speaking of, has anyone noticed how White House press releases look an awful lot like straight up propaganda? I doubt the Heritage Foundation could have mocked up a nastier looking “fact sheet”.

I want to take this opportunity to thank “middle America” (the part of the map which shows up as “red” on most election nights, and has hosted so much racism and bigotry over the years) for giving us this amazing turd for the last eight years. And for the great senators and representatives. Remember Phil Gramm (R-TX), David Vitter (R-LA), (R-LA), etc?