bthomas

Friday Outlook: Commodities, Global Markets

Congress wastes the taxpayers' time going after government employees (technically 80% gov. stake). If senate goes along, the courts will likely declare it unconstitutional. The lawmakers need to focus on the deregulation issue that allowed this abuse. So GS was hedged against an AIG bankruptcy. Who insured it? AIG? Are we certain bankruptcy would have been worse? Glass Steagall or something better, (unlikely, I know) must be (re) instated. This keeps the giddy bankers aware they are playing with other people's money. They smeared the line like a one year old with his birthday cake. Lax regulation, when everyone was flush with cash, home values only rising, money was free, -that's what got us here as greed ruled the day. We must go From '08, '09 back to depression era regulatory policy.The deja vu all over again thing (thanks Yogi). We must blame ourselves, not the least of which: Phil, Alan, Billy, Bobby and "under the big" top Sandy. I am certain none feel personally responsible, as the "Maestro" has already stated he is not. Hold on kids inflation is coming.