Wednesday, October 13, 2010


I found another word that is being thrown around in an odd way and by odd characters, accountability!
In this period of 'uncertainty' when the financial outcome is vague for all but the wealthiest two percent and their puppets in Congress those of us who look for reasons seek culprits.
No I don't say that merely to find an individual to blame for all of our woes but rather a group or sector or even an environment to examine and change so that this can never happen again.
I am not naive enough to believe that if we pinpoint all the faults of the past ten years we will never again have problems in America.  But if we can prevent this perfect storm of financial disaster from reoccurring then at least we will have one less area to worry about.
So the pundits are all around looking for accountability.
Unfortunately like taste there is no accounting for who we will find accountable.  The wealthy will likely blame the poor for various reasons.  They will not come out and divulge their thoughts but they will make them clear by bribing a few key speakers in Congress and on cable network shows.
For the spokespeople I note above I am certain you can figure out who the usual suspects are.  And where there's smoke...
Some of the mid level financial gurus have already started the campaign of vilifying the victim by stating that the foreclosure mess we are in was caused by the unworthy borrowers.   On CNBC's Squawk Box, Don Peebles stated that "People who fail to pay their mortgages must be held accountable." 
On the face of it that appears to be a fair statement since a person who takes out a mortgage and then walks away from his obligation or fails to pay the loan back should lose the property.
But what of the bank?  They must have known that the borrower might have a problem with a large loan.  In many cases the banks loaned money to people without a prayer let alone an income.  Shouldn't they also be held accountable?
But not in this country!
As if you cheated in school and changed your "F" grade to a "B" the banks that would have Failed instead were Bailed.  So they were not held accountable at all and the poor idiot who couldn't believe his luck at a free lunch he never deserved found out the truth, there is no such thing unless you are wealthy or in Congress.
We have almost finished two years of an historic Presidency.  America celebrated it's first African American resident of the White House's oval office.
And during the first historic two years President Obama set forth an incredibly ambitious agenda to help the largest number of non-wealthy people in the country since the first great depression some 80 years ago.
Many bills and laws have been passed but the full agenda has largely been stalled and thwarted by an able foe.  The MINORITY PARTY OF NO cannot have this President succeed!
They must be held accountable for any failure during this period of uncertainty.
Any intelligent human being need only look at the 'nay' votes from the Republicans and analyze them to see they will not allow President Obama to move this country forward!
They will not even allow him to appoint wonderfully qualified geniuses to positions in government without filibustering, posturing, and making statements that they know are out and out lies!  And many of these lies are downright laughable!
Peter Diamond was nominated by the President to join the Fed but his approval has been blocked since February.  Mean Senator Shelby of the great and intelligent State of Alabama feels that Mr. Diamond is not smart enough nor does he have enough experience to do the job.
Funny thing is the people in charge of handing out the Nobel Prize feel otherwise as Mr. Diamond is one of this year's recipients of the prestigious award in the field of economics!
Mr. Shelby must have been thinking of a different diamond!  Perhaps the one he was going to receive as a reward bribe if he could block the real guy from the appointment.
And by the way, Mr. Diamond was and probably still is Ben Bernanke's mentor.  Mr. Bernanke happens to be the current head of the Fed.
So Mr. Shelby feels the Republican appointed Bernanke is qualified but not his teacher!
For not allowing this and many other well qualified appointees from serving the country in this tremendous time of need we must hold the entire Republican Party of no ACCOUNTABLE

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