Monday, December 17, 2012

Bad Boy Christmas List...(by request)

What does Warren Buffett, Goldman Sachs and our government have in common?
They all made our list under one category or another from hypocrites to phonies to just basic criminals.
The Oracle of Omaha is loved by many and I use to count myself among the group. However, time reveals all and "...Time has come today..."
Warren is best known as a value investor. He has been quoted many times as being opposed to credit default swaps(CDS). He once labeled them as, "weapons for mass financial destruction." That was then. Today, he found ways to profit from them and he uses them. He even advises lawmakers to continue with the non-regulation of them. The rock group WHO has a song for you, Warren. It goes like this, "We won't be fooled again..."
Now, you may think that was bad, but it gets worse. In 2010 Warren purchased Burlington Northern. He immediately laid off 10,000 workers and since he has been twisting political arms to change our border laws to allow train inspections for engines, cars and parts to be done in Mexico. A champion outsourcing if I ever heard of one. He claims to be bullish on America. Which America I ask? The one that squeezes workers for bottom line profits and uses our present unemployment stats as pressure to scare off any worker protests? Actions speak louder than words. Warren is no George Bailey.
Next, the Wall Street darling, Goldman Sachs. By the way, our Treasurer, the IMF and ECB are all ex-Goldman employees. Goldman use to proclaim that they never took TARP money. They lied. They just took money under another bailout program. They have been questioned about the toxic mortgage securities which caused the recession of 2008. They were found to be selling those securities while behind closed doors, they were betting against them. I question whether they know the meaning of the word fiduciary. There are no Amadeo Giannini's working there or anywhere on Wall Street which is the root of their problems.
Finally, our President and his latest tiffs with the Republican party over the debt ceiling and the fiscal cliff. The big deal that needs to be done before 2013. It will end up like the one in 2010 where Obama showed no conviction as he agreed behind closed doors to extend the Bush Tax Plan. The deal added $110 billion to our deficits. Since then, the Tea Party candidates have entered the fray, however I see no real conviction here too. I see the same type of big deal like my recent call to Visa where I asked them to eliminate my debt ceiling. They hung up on me.
Who Wins, Loses?
The government wins and the citizens lose. It is time to think about starting a new political party that represents our wants and direction for the country and its future. All hail the Liberty Party.