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Editorial See other Editorial Articles Title: 'Pretty Boy' Paulson and the Goldman Gang; 'Public Enemies' Run, Not Rob, Our Banks Today ARROYO GRANDE, Calif. (MarketWatch) -- Yes, two Great Depressions linked in a mysterious time-warp: Bank robbers and robber banks. Back in the dark days of the first Great Depression John Dillinger was admired, a dapper Robin Hood. Banks were the real villains. Dillinger, Bonnie and Clyde, "Pretty Boy" Floyd, and "Machine Gun" Kelly were the "American Idols" of their day -- "Public Enemies" to the FBI. But folk heroes to an angry public who cheered when Dillinger destroyed bank records during holdups. Yes, good ol' John cared for the little guy, our "stand-in," a secret way of getting back at the crooks running America's banks. Imagine him storming into a bank in a three-piece suit sporting a Tommy gun. In broad daylight! A real man. He leaps over a counter confronting a scared teller, gently taps a stack of bills with his gun barrel: "That's your money, mister?" He nods. "We're here for the bank's money, not yours. Put it away." Banks were easy pickings for Dillinger, strategies he picked up in the slammer: "They ain't tough enough, smart enough, or fast enough. I can hit any bank I want, any time. They got to be at every bank, all the time." And he cleaned up, till a friend ratted on him. Today it's far worse. Back in the 1930s we got a flood of new laws and regulations protecting small investors and consumers. Today we just got Obama's proposed new legislation that's already being watered down by Wall Street lobbyists. How? Easy. Because today's new Dillingers are inside the system, officers and bureaucrats running the banks, regulators, monetary system, government. The usual suspects: "Pretty Boy" Paulson and his Goldman Gang, "Helicopter Machine Gunner" Bernanke, "Bonny" Dodd and "Clyde" Geithner. They're the new "Public Enemies," calling the shots from inside, robbing us blind, costing us trillions. Worse yet, the new president loves the new Dillinger Gang. Like the Depression-era masses, he's mesmerized by the bank robbers, and hired them! Modern Dillingers own the banks, and government How bad is it? Real bad: Remember former SEC chairman Arthur Levitt, who stood up for the little guy in the '90s? The guy who once attacked banks with this comment: "America's investors have been ripped off as massively as a bank being held up by a guy with a gun and a mask." Well, he's inside too, just hired as a "policy adviser" by Wall Street's Goldman Gang, just weeks after Goldman hired away the top staffer on the U.S. House Financial Services Committee. The pattern's obvious: Wall Street's arming itself with vast lobbying firepower to kill off much of the proposed regulations, just as they did during the Enron and mutual fund scandals reform movement earlier this decade. And that, my dear friends, is why today's Wall Street conspiracy of banks and lobbyists, their well-paid pals in Congress and throughout the federal bureaucracies and regulators, plus their Trojan Horses in the White House, will continue driving America straight into the third meltdown Robert Shiller warns about: Our "vulnerability to bubble thinking is greater than it's ever been ... We recently lived through two epidemics of excessive financial optimism ... the dot-com and the subprime ... we are close to a third episode." The rapidly-approaching "third episode" became painfully obvious in reading Black Swan author Nassim Taleb's idealistic "Ten Principles for a Black Swan-proof World" in the Financial Times. Idealistic, yes, but drenched in satire. Satire because we know the new Dillinger Gang, the Goldman Conspiracy and their allies all across Wall Street, could never steal as much money from taxpayers in Taleb's utopian "Black Swan-proof" world. So Wall Street will surrender nothing, and, therefore, every one of Taleb's 10 Black Swans remains intact, a time bomb, a disaster waiting to happen. Here's why: BS-1. Don't give the recovery to the same idiots who created the mess Taleb was more colorful: "People who were driving a school bus blindfolded (and crashed it), should never be given a new bus." There were so many drivers it is "irresponsible and foolish to put our trust in the ability of such experts to get us out of this mess." But we have. And they will fail to create a "Black Swan-proof world." Post Comment Private Reply Ignore Thread
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