Shedlock Rant: Where's the Outrage? (Banking Excesses)

[Ruby the Liberal]

:applause:

This is just his final comments. Full article detailing Goldman et al's excesses at the link:

I don't know about you, but I am outraged.

I am outraged and not just about Goldman Sachs, but about a process that allows, even encourages political pandering, by time and time again rewarding leveraged riverboat gamblers and failed institutions and at taxpayer expense.

I am outraged that real people are suffering massively while the influence peddlers have stolen the country for their own personal benefit.

I am outraged at a political system that is totally unresponsive to the American people.

I am outraged by campaign contribution and lobbying processes that allows corporations to buy votes with donations.

I am outraged how legislators ignored the wishes of the people who clearly did not want these bailouts in the first place.

I am outraged that very little of this is in mainstream media. Why is this stuff not on the frontpage of every newspaper in the country or at least in the editorial pages?

I am outraged that the average US citizen is not aware of any of this, instead depending on CNBC, or "The View" for their interpretation of the world.

I am outraged how special interest groups have exercised their power to monopolize the economy for the benefit of themselves, US citizens be damned.

I am outraged that all these bailout programs are doing nothing to alleviate the massive consumer debt problems. Every program, virtually every program was designed to bailout lending institutions, not consumers.

I am outraged at fees charged by banks receiving bailouts.

I am outraged over government pension plans and government pay scales massively out of line with the private sector.

I am outraged that Congress and this administration thinks the solution to massive budget deficits are still higher budget deficits in excess of a trillion dollars.

I am outraged about indictments. Paulson Admitted Coercion to force a shotgun wedding between Bank of America and Merrill Lynch yet no indictments were handed out. Let the Criminal Indictments Begin: Paulson, Bernanke, Lewis.

I am outraged that US citizens are not concerned enough and not educated enough to demand change.

I am outraged that the two party system has failed. Neither party has delivered meaningful change on budgets, on taxes, on social security, on deficit spending, on the size of government, on military spending, or fighting needless wars.

I am outraged at a Fed that purports to be "inflation fighters" when the only source of inflation in the word are central bankers, and their fractional reserve lending policies.

I am outraged that Greenspan and Bernanke could not see a housing bubble that 1000 bloggers could see.

I am outraged at the selective memory of Bernanke when speaking to Congress about these problems.

I am outraged that Bernanke's one sided response to asset bubbles, letting them grow without end, then bailing out the financial institutions that cause them.

I am outraged the Fed exists at all. It is a useless organization that cannot see bubbles, that panders to banks, that supports inflationary policies that are tantamount to theft by fraud.

I am outraged that the Obama Administration promised changed and did not deliver. "Yes We Can" was a lie. The reality is "It's Business As Usual, Only Worse, With Higher Deficits".

I am outraged there is not enough outrage over this.

Where the hell is the outrage?

Well done, Mish.

http://globaleconomicanalysis.blogspot.com/2009/10/where-hell-is-outrage.html

[gateley]

1. And the perfect question -- Where the hell is the outrage? nt

[Better Today]

2. Are you friggin' kidding me! Outrage has been rampant, the outrage over the banks

may be the ONLY bipartisan topic that I can discuss with wingers, conservatives, bluedogs, and liberals, that we ALL AGREE about, but just like any other outrage that Washington finds inconvenient, it is ignored.

Until we as a nation of individuals all decide to pull our bank accounts, file bankruptcy en mass, cancel our insurance policies (for those who have them), and start taking mass public ACTION against them, we will continue to be ignored and f'd over.

rant off.

[Ruby the Liberal]

5. Exactly.

I don't agree with much of what Mish has to say as he is a known goldbug (and likely Libertarian), but this is one issue that I can't find a single soul to disagree.

Then again, I don't live in Manhattan...

[AllentownJake]

3. There is plenty of outrage outside of the halls of congress and the White House

Inside those halls, not so much.

[newtothegame]

4. There's no outrage because many, including most here on DU, are so obsessed with calling out...

so-called 'faux outrage.' I've seen this a ton in the last year; apparently, if you don't agree with someone's anger over an issue, than CLEARLY they must be faking that anger. Geez, it's no wonder so many people aren't truly honest about their feelings.