Monday, October 10, 2011

Grayson knows how to play politics...

...without spraying BS.



"Oh, look, they're standing in the audience."

P.J. O'Rourke comes off as a total fool.

Here's a repost of the video where Grayson owns the Fed.

3 comments:

cyrusfx said...

The next video for the lower video is Grayson questioning Vikram Pandit (played by Tony Shalhoub in "Too Big To Fail" -- highly recommended HBO special) of Citigroup, and he does an excellent job of explaining how corporations use their sway in the government to get billions from taxpayers, while making Pandit look like a tomfool in the process.

Huge Larry said...

Oh man, I don't follow the economy at all, but it's so painfully clear to me just how much ownage is being dished out in the bottom video. He's just serving up spoonful after heaping spoonful of ownership and he's forcing the ladle right into her floundering maw.

cyrusfx said...

Yeah he brilliantly sheds light on a serious problem: there's no legal oversight over the money distribution policies of the Federal Reserve, even though that money comes largely from U.S. taxpayers.

And knowing that the Fed and SEC wanted the government to pay out trillions of dollars in insurance payments after the housing bubble collapsed, its easy to see why more oversight in this decisionmaking process might be beneficial.

When Lehman collapsed in 2008, the big banks asked AIG to pay up for their credit default swap and MBS insurances, and AIG in turn asked the government for a bailout instead of sucking up the fact that they were outrageously over-extendended in their solvency at the time.

I heard a compelling argument the other day that the real fuckage won't actually set in until after winter earning season. There will be a slight market bounce before then, but then it looks like were are in for 2008 all over again.

Check out Harry Dent for more eloquently executed info.