Olbermann on the Financial Meltdown
By Barry Ritholtz - March 10th, 2009, 8:40PM
OLBERMANN:
That’s all over with Republicans out of power, right? Except that Treasury Secretary Tim Geithner’s chief of staff is a former Goldman Sachs lobbyist. Another Goldman Sachs veteran, Gary Gensler, is Mr. Obama’s choice to head that same regulatory agency that once tried to oversee derivatives, but who, at his hearing last month, refused to apologize for having opposed regulation of derivatives. And except that, as of 2008, Democrats now get more Wall Street money than Republicans.
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March 10th, 2009 at 10:42 pm
Nice summery of the causes of this economic catastrophe.
Go long on tar and feather futures….
March 10th, 2009 at 10:43 pm
ack summary
March 10th, 2009 at 11:08 pm
Politics is at the bottom of everything that is going on. Why is all this a surprise……the financial executives/companies being protected by the same politicians they support through lobbying???? Doesn’t matter what party, they are all after the same thing.
March 11th, 2009 at 12:02 am
What we need is an independent party that has as its sole platform good governance, honest governance, and governance that is truly by the American people. Screw everything else. Screw governance by special interests, by lobbyists, by the bought media, and by foreign governments influencing our decisions.
March 11th, 2009 at 1:29 am
Well it looks like Jim Cramer is going to come on TDS this Thursday. Lets hope he does not cancel.
March 11th, 2009 at 7:11 pm
an independent third party would be great but the starting place is getting money out of politics. campaign finance reform that actually stops the legalized bribery that is endemic to US politics is a necessary first step. This is not such a difficult step. It just requires some laws and some enforcement. (and of course for the crooks to be removed from power…)
March 14th, 2009 at 7:49 am
I agree with the information Olbermann presents, but I note an obvious omission on his part in that he wouldn’t say Robert Rubins name. He simply refers to him as Clinton’s Treasury Secretary. Hey Keith it’s OK to say Rubins name along with all the other criminals you mentioned in your piece. Rubins was one of the primary architects of this banking disaster. He helped arrange for the repeal of Glass-Steagall with the Gramm-Leach-Bliley Act then promptly resigned as Treasury Secretary to rejoin Citigroup and steal hundreds of millions of dollars.
Somehow the media just won’t mention his name and they should. Robert Rubins is not off limits.