Lehman Moment Update

I reported in my June 30 post that there was a Lehman Moment developing, and here it is that I now run across Bloomberg News in a piece dated July 4 that Brexit is a Lehman Moment.  You can always count on the staff here at True Outsider to post the latest in the meltdown in the banking world a few days prior to the banking world reporting that news to their insider clients at Bloomberg. When it will reach corporate mainstream or NPR broadcasts is anybody’s guess. They’re too busy talking about the important issues like the transgender bathroom debate and all the xenophobic racists among us threatening the stability of the Neoliberal Order that has delivered riches untold to every boy and girl working inside the Obama Administration.

http://www.bloomberg.com/view/articles/2016-07-04/brexit-is-a-lehman-moment-for-european-banks

 

Anyway, I have to say I love this summary line in the Bloomberg piece:

America sorted its banks out swiftly after the 2008 credit crisis. ..

Easy as pie. Just put the tab on the backs of the Americans in the form of IOUs and gin it all up again with the same players happily installed inside the Obama Administration. Nobody goes to jail and CEO salaries shoot back up to the skies after getting rid of the driftwood like Richard Fuld over at Lehman.

Anyway, no fears. I’m prone to these kinds of hallucinations. Like the one I had back on Sep. 26, 2008.. Let’s just revisit it from Business Insider:

The Hanke-Panke Bailout fight has descended into partisan chaos. President George W. Bush, moreover, is now officially wigged out. The NYT:

“If money isn’t loosened up, this sucker could go down,” President Bush declared Thursday as he watched the $700 billion bailout package fall apart before his eyes, according to one person in the room.

The next detail is so shocking we had to read it twice:

[The bailout discussions] dissolved into a verbal brawl in the Cabinet Room of the White House, urgent warnings from the president and pleas from a Treasury secretary who knelt before the House speaker and appealed for her support…

In the Roosevelt Room after the session, the Treasury secretary, Henry M. Paulson, Jr. literally bent down on one knee as he pleaded with Nancy Pelosi, the House Speaker, not to “blow it up” by withdrawing her party’s support for the package over what Ms. Pelosi derided as a Republican betrayal.

Anyway, no sweat. I’ve talked to a few people I know who have long worked inside corporate media, as well as people who get all their news from corporate media. And they tell me everything is under control. The same geniuses who have always been in charge are still in charge, so we can all sleep peacefully in our beds knowing we’re in good hands with Allstate. Just like Frank S and Bobby D and whoever this stupid fucker is will assure you.

Here’s some great advice for artists from Punk Rock legend Patti Smith. The voice of sanity in these troubled times one of our greatest living American artists and among the most articulate:

https://www.youtube.com/user/TheLouisianaChannel?v=L2EO3aXTWwg

 

 

About trueoutsider

I'm an artist.
This entry was posted in Art and Money. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s