Sun
Feb 7 2010
08:23 am
By: R. Neal

The more rational part of me didn't want to believe that the 2008 financial crisis was engineered by the Illuminati and its puppet Bush regime as a parting gift to the incoming socialist apparatchiks. Yet nagging suspicions remained, particularly with regard to the impeccable timing and the resulting political fallout that elevated even lesser, poorly crafted and expendable marionettes of mass distraction like Sarah Palin and Glenn Beck to the national stage, imparting folk hero status no less.

I read books (House of Cards, a look at the personalities and the gamesmanship, and Too Big to Fail, a relatively sterile AP stylebook chronicle of events with some looks behind the scenes based on contemporaneous emails and notes), in hopes of understanding what happened. These books sort of answer what happened, but, for me at least, didn't pin down the "how" or "why."

A more cynical person might long ago have concluded that the disaster was engineered as one last frat boy raid on the Treasury liquor cabinet before the cops came to shut down the party. So that would be the "why." But the question remains: How? Who pushed what little red button to activate what weapon of mass financial destruction as they ran out the back door?

This article may be the final piece of the puzzle, or at least provide clues between the lines.

Meanwhile, the Masters of the Universe have retreated to the caves (which for some are corner offices at the Treasury and the Federal Reserve), waiting for the political carpet bombing response that never came. The marionettes, strings once connecting them to the Invisible Hand severed, continue twitching and flailing about on stage with reflexive muscle memory. And disaster victims gather in places like Nashville to idolize the marionettes and deify the "free market" grifters who wiped out their 401Ks.

OK, then.

</tinfoilhat>

Tess's picture

well

I don't think it is a tin foil hat mentality to think that Goldman Sachs might be just a little bit responsible for the financial melt down.

GS principals are crawling all over this administration and the previous one in advisory capacities. Their great minds are the ones advocating the privatization of social security, and the GS brain trust was behind the Tarp idea, whereby GS lost nothing and everybody else rolled over and handed their money over to them, basically. And, they get paid for their clever ideas with massive bonuses. Something ain't right, IMO.

R. Neal's picture

Huh?

"Goldman Sachs" is the new "Rothschild" liabel. Stop it.

Huh? I get your reference, but, huh?

bizgrrl's picture

Great rant! I too agree

Great rant! I too agree Goldman Sachs, and the previous administration, could easily have manipulated this crisis. So far they are getting away with it. It's time to take some of these people out of the loop (Geithner) and do a re-boot. I think there are plenty of highly intelligent people that can be brought in to study the situation and make good recommendations. Of course, placating the Republicans (as is being pursued right now) will just cause a blue screen instead of a clean successful re-boot.

Tess's picture

Just read this reader's

Just read this reader's comment about the NYT story on HuffPo:

Step 1: buy 5 insurance policies on a house you don't own.
Step 2: burn down the house
Step 3: profit!

That is a fairly good synopsis of what happened in three easy to understand points.

EricLykins's picture

Greece: the new AIG? With the

Greece: the new AIG?

With the mounting crisis in Greece, another massive stash of toxic debt has revealed itself in a way that can’t be ignored. Fears of a “contagious default” in the Eurozone hammered markets yesterday, with one Greek banker calling it a “wholesale selling off of the country.” Today, markets are rebounding on hopes for an EU bailout, and around we go again.

Though parallels to Dubai are obvious, Zero Hedge has noted the similarities between Greece and AIG due to the intimate involvement of Goldman Sachs in both crises.

R. Neal's picture

http://www.rollingstone.com/p

(link...)

Matt Taibbi explains the cons...

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