The New Mode of Operation

Eric Raunchway takes on Amity Shlaes, in a perfect representation of misrepresentation of data. I myself find ‘Make Work’ Jobs established by the Government to not be actual Jobs, but it is not so much how the Jobs originated, as it establishment of an ability to Consume among Workers which did not exist previously. I am not making any Excuse for Shlaes whose Work has some obvious malicious misrepresentation. Where I am trying to arrive at is a position in which Consensus is based upon actual accurate data and evaluation; a position hard to accomplish when debate centered around two separate set of books. The Enemy is publication to confuse and distort, One has to first accept the academic discipline, before One can do an adequate Job of presenting propaganda.

The Government itself was running a Ponzi Scheme if Andrew Cuomo can be believed. Paulson and Bernanke had Bank of America lie to Stockholders about the liabilities associated with Merrill Lynch in an manner which would deny actual Investment for a 2-3 year Period because of the additional liabilities. Stockholders were misinformed as to the Investment opportunity, which would not exists until Merrill Lynch’s liabilities were paid off. Payment of these Liabilities were to be paid by TARP, though TARP repayment was to come from Bank of America Profits; a complex Statement saying that Bank of America Stockholders were to be artificially taxed, without even informing them of the taxation. They were only told of the additional liabilities after the Deal was made, promised the TARP funds, and never informed specifically that they would have to repay the entirety of TARP liabilities for both Merrill Lynch and Bank of America. I would file Class Action suit against the Treasury and Fed, if I were a Bank of America Stockholder; claiming false and unjust taxation without representation.

I don’t know where the OneEyedMan has been, but he is truly not observant as to current American practice. All the anti-takeover measures he cites have been lobbied by the Takeover artists themselves: Golden Parachutes, Dead Man rules, Poison Pills, and staggered Boards. Executives must be paid, obvious inequity cannot be altered, Retirement settlements must be fulfilled, and excess Board members must be employed. Red Cross Executives cannot be removed, even in the face of established Fraud. Bernie Madoff will probably get his Pension Benefits, even sitting in prison. Criminals get to negotiate their redemption under Clawback rules. The Whole new Concept of Business operation came with the new set of Operators, whose operations basically only ensure their own personal Gain. lgl