Investment Intelligence When it REALLY Matters.
History Always Repeats
Can you imagine what would happen to the bank, Wall Street, real estate and mortgage executives if they were in China? They wouldn’t be around by now. But this is America, where CEOs commit accounting, shareholder and taxpayer fraud, destroy companies and leave with $200 million while taxpayers, investors, and even consumers end up screwed. It’s happened in the past; not just during the dotcom bubble but over and over for decades. And of course it’s happening now.
You better believe it’s going to happen again and again unless you call for the heads of these crooks and vote every single member of Congress out of office, and make sure these issues are addressed adequately by anyone who wants a spot in Washington.
There are many things that need to be changed but the single most important is accountability. When fraud occurs, captains need to go down with the ship. That does not mean a resignation. It means hard prison time.
As we know, politicians will call for action and accountability but only a few scapegoats will be selected - a couple of guys from Bear Stearns, Credit Suisse and a few others. But not the CEOs. Never the CEOs. That would be un-American.
Let me be clear. America is a mess and Washington is a joke. If there is no real punishment for negligence and fraud, of course they aren’t going to be on the ball. Of course it’s going to happen again. It’s the same rules of conduct for CEOs.
President Bush has created quite a legacy for himself. One that might only be equaled by by Alan Greenspan. But of course most people have short memories. As a consequence, it is likely that in the future, there will be another Bush in office and another Greenspan as Fed chairman. This is why it’s so important to study history.
There is only one way to stop the pain. Let the wound bleed out and heal on its own. Thereafter, healthcare must be universal, free trade must be restructured, and America’s badly broken free market system must be repaired, this time with REAL accountability for fraud and irresponsibility.
Unfortunately, these changes aren’t going to happen as long as the media continues to lie and as long as lobbyists exist, because as you might realize by now, corporate America controls Washington. And together with the banks, the media has partnered with these elitists to maintain their control.
History only repeats when people repeat the same mistakes.