Obama should make an example of ONE Wall St. exec

Pick one investment bank, hedge fund manager, or whatever CEO and publicly have Justice Dept. make the guys life a living hell. Prosecute him to the fullest extent of the law, have forensic accountants find his hidden assets, hook him up to a polygraph to find what accountants couldn't, and after he is convicted, throw him in a regular prison and tell the inmates he is a child molester--or just tell the truth: this is the guy that threw your moms out of her house.

Ideally, it should be THE most powerful CEO of the biggest institution.

Personally, I think Hank Paulson would be a good choice since people recognize his name and face, but in his spirit of bipartisanship, Obama probably wouldn't pick him.
More than a bailout or reregulation, this would restore public confidence because it would tell the public that banks are the governments (and by extension our) bitch, and not vice versa, that they can not rob us at will, avoid punishment, then make US pay to clean up after their crimes.

The only thing better than Obama picking the person to prosecute would be to narrow it down to a pool of a half dozen, and give them a month to sway the public as to which of their colleagues in the pool should be the scapegoat, and see how quickly and thoroughly they do our work for us and expose each others crimes to save their own necks.

King of Cayman Islands thanks Bush for Wall St. Bailout

The Cayman Islands formally thanked the United States for the first installment of the $350 billion Wall Street bailout.

"Just about all that money ended up in our banks, Mon," said king of the Caymen Islands and president of the Third National Bank of Post Office Box 7, Haile Ken Lay Selassie.

The Cayman Islands are notorious for their secret bank accounts used to escape individual and corporate taxes and launder drug money to make it available to banks and Wall St.

"We got about $348 billion. Hank Paulson, and the AIG and the Goldman Sachs, or whoever those guys are, they said they need the other two for shipping and handling--shipping coke and handling male prostitutes that do that nasty shit they like from their fraternity initiations. Mon, those guys are fucked up, but they make us so rich, we don't know what to do with all the money. I got a solid gold bidet to wash the shit off me ass so I don't even have to wipe myself. Even my paperboy, he drive a Rolls Royce, and our homeless can afford to hire advertising companies to beg for them."

The bailout money will be used to actually expand the land mass of the Cayman Island. "We gonna bale up that bale out money and throw it in the ocean to make the island bigger, so we put some more PO boxes on it."

The King of the Cayman Islands bears a striking resemblance to Enron CEO Ken Lay who died suddenly after being sentenced to prison for his business practices. Some suspected he faked his death and was hiding out in one of the corporate-criminal friendly states like Seychelles, Saudi Arabia, or the Cayman Islands.

"Mon, I aint no Ken Lay, I got some white in me, so maybe we are cousins or some shit like that. But I'm no way Ken Lay with a bad dreadlock wig and dyed skin."

What makes the resemblance even more odd is that the king's middle name is "Ken Lay."

He has a quick explanation for that. "Look, how am going to know when someone is talking to me when half the people in the islands is named Haile Selassie or Bob Marley something? So I put my real name in the middle so people still call me "Kenny Boy,"or the "Easy Lay," but no feds can find me with the Selassie, not that they are looking so hard with my friend the Lucky Tard as president."

As president of the Third National Bank of Post Office Box 7, the king is thought to have stewardship of 90% of the money that disappeared from the collapse of Enron, 70% of the money from the S& L crisis in the 80's, and the majority of the heroin income from Afghanistan and coca income from Columbia.

"I don't know why anyone would want to be a CEO of some fancy business in the US and have to wear a tie and all that shit," the king said. "I make a lot more money here smoking blunts in me flip flops and driving me golf cart to collect the checks from the mailboxes every day. Even club fed wouldn't have been this nice."

After Gitmo, Obama to close Club Fed prisons for Wall St. economic terrorists

Close on the heels of announcing he will close the Guantanamo Bay prison where alleged Islamic terrorist are held, Barack Obama said today he would immediately end the system of separate prisons for economic terrorists. Obama explained:

"We need to have one justice system for all Americans, even domestic terrorists who drain pension funds, break functioning businesses, destroy jobs, and corrupt our political process, all to enrich a very few."

"Instead of being sent to regular prisons with the Americans most effected by their crimes, they are sent to segregated prisons with carpet, tennis courts, pools, little threat of prison rape, and in general, little to distinguish the prison from the country clubs where they spend most of their time hatching terrorist plots to attack middle class Americans while they're playing a round of golf or sipping umbrella drinks by the pool."

"These gentlemen need a punishment that fits the magnitude of their crime."

"If a nineteen year old kid who sold a dime bag of pot has to go to the bathroom on a steel toilet with no privacy, that's where Wall Street scammers who stole hard-working Americans dreams of a safe retirement should have to go to the bathroom."

"If that nineteen year old kid is in danger of being raped by his roommate, forced to dress like Paris Hilton, and be bought and sold for cigarettes as a sex slave, that's where Wall Street terrorists belong who said they needed $700 billion of our tax dollars to keep our economy from collapsing then took the money and spent it on lavish parties, bonuses for execs and dividends. The only thing that's unfair about that is I can't imagine anyone giving up one cigarette for Henry Paulson's sorry, withered ass."

Critics of Obama's plan to put Wall Street economic terrorists in mainstream prisons argue that prison rape would not serve as a deterrent since it is very similar to the initiation ceremonies of fraternaties and secret societies the execs joined in college. An unnamed bald male escort said far from finding the experience unpleasant, many of them pay top dollar to relive it again and again.

Obama did hold out a fig leaf to Republicans and corporate-controlled Democrats:

"I have said that I wanted to reach out to my opponents, and I meant it. Many Republicans in Congress have said this proposal is too harsh, that we should have more compassion on these terrorists. They think we should just give them therapy and a hug instead and make them promise never to do it again."

"I disagree, but in the spirit of bipartisanship, I am offering an alternative to these trust fund babies gone wild who have never contributed anything to society: they can avoid prison altogether in they join the Army and serve in the infantry anywhere our troops are in combat around the world for as long as their prison sentence would have been. "

"They would not be eligible for promotion or any leadership positions since they have shown that they cannot be trusted with the safety of anyone else. Instead, they could be used to clear IED's, as decoys to draw enemy fire, and as human shields for any troops with missing or defective body armor."

"If their parents and fraternity brothers want keep them out of harm's way, they would be free to lobby for any ongoing wars to stop, but given the love these people have for money, their relatives probably prefer to cry at their funerals than lobby themselves out of war profits."

President-elect Obama went on to say that Bush Treasury Secretary Hank Paulson would be an excellent first choice for the financier to cannon fodder program.

"He put the deal together, his firm abused it, I think it's only fair that he be the guinea pig to see how this reform works."

Obama added that he couldn't comment on whether President Bush or Vice President Cheney would be joining Paulson until after the inauguration .

How would gov't have bailed out Wall St. if they were middle class or poor?

A New York Times columnist wrote a very stupid article about how Treasury Secretary Paulson may have hurt McCain by not starting the bailouts sooner, rather than letting Lehman Brothers collapse.

It is now clear that the decision to let Lehman Brothers fail — made the weekend of Sept. 13 and 14 — provided a stunning blow to investor and consumer confidence. The economic statistics coming out now show that car sales and other retail sales, already weak, fell off a cliff. Business orders from other businesses dried up. What had been a fairly mild recession — and one that many denied was a recession at all — became a sharp one.

History does not allow do-overs, so we will never know what would have happened if Lehman had been treated as Bear Stearns was, or as the American International Group soon would be.
FULL TEXT

He seems to miss the point of why the bailout proposal justly drew the wrath of ordinary Americans on the left AND right.

Here is the response I posted on his blog:

Bailing out Lehman might have staved off the other bailouts by mere weeks or days, but it was the impression of the bailouts, not the failures, that hurt McCain.

The public perception is one of profound conservative hypocrisy and corruption. They demand unregulated capitalism and draconian cuts in the safety net for the middle class and the poor, but them trip all over themselves to bail out their wealthy friends when their scams blow up in their faces.

Think of what we do to people who need medical help without insurance or whose insurance shows them the door. They have to sell their houses, bankrupt themselves, and sometimes get divorced to qualify for help. Their lives are ruined.

By contrast, Paulson specifically demanded no strings attached, no requirements for hardship, and we have seen the results: they took our money and partied like the spoiled, useless, sociopathic frat boy human filth that they are.

If we treated them the way we do the middle class and poor who need help, they would have to drain their bank accounts of the past decades’ bonuses, sell the BMW, and three houses, and be forced to work for minimum wage until taxpayers get our bailout money back. And just for the hell of it, they would have to get random drug tests to make sure they aren't using our money for coke or crystal meth.

But of course that is based on an assumption that they are merely incompetent rather the more likely scenario that they committed intentional fraud on borrowers and the US taxpayers. In which case, they should be held in jail without bail pending their RICO trials, and wondering when it's safe to go to sleep without another inmate doing to them what they have done to America--and the world.