J P Morgan and Company lost 2 or 3 billion dollars in the financial markets. They reported profits of 20 billion dollars and lost 2 billion. Hum?
Now the political class wants to investigate why the big loss? With Frank-Dodd they made losing money illegal in all 50 states and Guam. How did J P Morgan side step the law and lose money?
The fine print has the details. The two billion dollar loss is in complying with Frank-Dodd regulations and the paperwork necessary to report the compliance to the Feds. It is a drop in the bucket compared with the losses this nation incurs keeping the fluff and the stuff our government deems necessary to function.
Half a million dollars to have First Baby Girl, Malia Obama, whose father was born in Kenya, a spring break out in Old Mexico this year accompanied only by 28 alcohol swigging and call girl pumping horned up Secret Service agents who are willing to give their lives to protect the president and his family even if it means contracting Aids, or some other intractable venereal disease famous in places where men and monkeys have consensual sex after a few too many beers, and all the women are down at the river cleaning last nights stains out of their underwear by rubbing them with a hard rock.
Half a billion dollars for green energy friends who open a shell Solar Energy panel making company called Solyndra, which is Kenyan for "Suckers".
A trillion dollars for shovel ready jobs and the only shovels were the ones shoveling the loot over to the democrat kleptocrats in the labor unions and what happened to the other 900 billion dollars is anybody's guess.
England's new bloke and "Primie" as Obama called him, comes to Washington and Obama fires up Air Force 1 and half a million dollars later they are court side watching some hoops in Ohio.
I am not to bothered when an investment firm looses a few billion dollars in a scheme which has a chance of making money. I am bothered by a government whose schemes have no chance of turning a profit. But the purpose of government is not to make profits it is to make work for the otherwise unemployable.
I get this, I traveled by plane a lot since 9/11 and have seen the TSA in action. I watch the tranquil lives of the park rangers in my trips to Yellowstone with my heart all a flutter with envy. And the biggest waste of talent is the press which has not been vigilant since they caught Richard Nixon covering up a third rate burglary at the Watergate Motel.
Where is the fire in the belly. Get out and report you hacks!
Why does a sheriff in Arizona have to tell us Obama has no credible papers?
Where is Obama's paper trail?
Sure Mitt Romney was a high school prankster in 1965, and I went to see the Beatles in Memphis in 1966, and since then my life has been a series of set backs and disappointments.
I peaked in this life way too soon. But it is not too late for some of you young reporters. Get out and report!
Jackson Delano Maybolt, President Urban Poverty Law Center
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