Warning shot & CSPAN & CurrentTV is the BEST!

With the world financial system tanking it only takes a second for someone to think of a way to make money on it. phil gramm is on CSPAN right now, speaking on a panel for the american enterprise institue (aei) and it is amazing to witness the total and somewhat deranged denial in every explanation he has for what has happened after he repealed the glass/steagall act. It is hard to believe this statement, re: glass/steagall, "I don't think a factual case was made for the law to begin with" and re: gramm/leach/bliley, "Swaps are not futures, but it didn't deregulate the swaps." This statement is just a joke, surely, "Everything we do will have a consequence."

As the world tanks, the insane get public statements at teh aei.

Deregulation would work if investors and investment bankers were honest. Darn, there goes capitalism. Oh wait, if everyone has "skin" in the game, it plays out better, guess we have to see how that works if we still allow everything to be opaque. Trust is the big issue for me. Anybody asks, for now, it's about as much safety as you can buy with what little you have left and plan for inflation and many years of privation.

Just now, I saw a clip on currenttv of O visiting the white house press room. He has a smile, he's saying he has respect, he wants respect and that their questions WILL get answered! The camera's are flashing, the recorders are on, the video rolls in disbelief. Unbelievable. the reporters seems pretty well flustered too. Someone yells as he's leaving their modest digs, "Thanks you, Mr. President." It is the single most disparate image I have seen yet. Simply unbelievable. Let's hope the bozo press asks the right questions this time.