Part 2: Playing Games With The Future
By Imran Anwar
In the previous column we were analyzing how the Republican Party and defeated politicians play the blame the media game. Even though President-elect Barack Obama has won the election, there are many months before he can even more into the White House. He is busy putting together his team and trying to arrange for a smooth transition from the current administration.
We are looking forward to seeing capable, strong, respected, intelligent and competent people to get lots of Cabinet and administrative positions. In other words, we are expecting from the Obama administration what we did not have in the Bush administration!
In the meantime, lame duck president George W. Bush cannot seem to wipe the glee of his face in that his disastrous presidency is coming to an end. He still does not seem to understand the serious damage he has done to America, Americans, the world and America’s standing in the world. He is just acting as if a juvenile, who had been given the responsibility for managing a dorm for a few weeks, is glad that he can go back to partying and having a good time. Texas ranch, here I come!
His team of incompetent, and sometimes corrupt, officials continues to wreak havoc on the nation and the global economy. Secretary Hank Paulson in particular has been spectacular in his inability, apparent poor judgment and lack of good decision-making. It seems that every time he opens his mouth the stock market will drop 200-500 points. Call that the financial equivalent of Hurricane Katrina, another Bush disaster legacy of rewarding failure and incompetence.
As I have written before, the world faces grave financial crises, which need both liquidity and a return of credit and consumer confidence. Paulson does not seem to know how to provide either one. First he disagreed with the good decisions that were being made by other central bankers around the world. Then he agreed with them and said he would follow them.
Then he announced that the government would use the bailout money from taxpayers to buy bad assets, or bad loans, from banks and financial institutions. In effect, he proposed rewarding poorly managed companies run by greedy and crooked executives, while saddling the taxpayer and the American economy with trillions of dollars in liabilities.
When the market had finally adjusted to this, dumb as it was, idea – he roiled the markets again. He did this, in effect, by saying, oops, that’s not what he was planning to do. He then proposed finding some new way to give the money not to the financial institutions that are melting, and could sink the entire global economy with them, but consumers who have high credit card debt.
As was to be expected, the bank stocks that were starting to stabilize took a massive new beating. The entire stock market dropped precipitously again. Thanks, Hank.
An interesting news item related to this financial crisis is that opinionated, big mouth, gold and daring movie producer Michael Moore (who had done great exposes on Bush, 9/11, the war on terror, the US auto industry, US health-care, etc.) has announced that he will be making another movie.
This time he will follow up to his previous successes with a movie exposing the games and players that made up the current financial mess. Hopefully, he will expose their endgame as being something that America and the world cannot afford to play.
News reports still continue to comment on how major American corporations, financial institutions, and insurance companies that have their hands stretched out asking for taxpayer bailout still continue to shamelessly spend money on unbelievable expenses.
AIG is the worst culprit of them all. There have been documented cases of more than one expensive, unnecessary and in your face lavish events that this company has continued to hold for its executives.
This company is getting some of the biggest handouts in corporate, financial and global history, already exceeding the $100 billion, yet its executives are dining out on $400 steakhouse dinners, staying in two-storey resort bungalows – while having massage and spa treatment instead of attending the so-called necessary conference costing nearly half a million Dollars! I wonder where I can apply for one of these jobs. I love steak, my shoulders are tight and I sure could use some R&R at taxpayer expense.
I have to give credit to my fellow media professional, the respected TV anchor, Lou Dobbs of CNN for not letting go of the story – despite the bold-faced explanations of the AIG CEO on the lame Larry King Show.
There is one story, however, that I do not think anyone is investigating at least now. It would be so great if CNN, the New York Times or the Washington Post – all the great American institutions – would spend some resources on investigating, in-depth, the major stock trades that took place during the last few months.
I do not have any proof to level a formal complaint or accusation, yet. But, I have a hunch that all was not as it appeared.
I hope that future historians, investigators, and congressional committees will investigate what I am going to say in more depth. I wonder, no, I ask: Was the stock market being manipulated by M/s Paulson, Bush officials and their cronies? What do you think?
While it seems hard to imagine, I do not put it past the friends of evil genius Karl Rove to let the United States economy fall into a new great depression.
Students of the Great Depression and its causes, including Secretary Paulson, and Karl Rove, know that it can take four years or more for an economy to come back from a giant depression.
That means, conceivably it is possible to sabotage an Obama presidency even before he takes office! They could do this while setting the stage for the economy to still be in bad shape when the Republicans make the next bid for the White House in 2012.
I hope I am wrong, but American politicians have been guilty of far worse crimes, against their own people.
Imran Anwar is a New York and Miami based Pakistani-American entrepreneur, Internet pioneer, inventor, writer and TV personality. He can be reached through his web site http://imran.com and firstname.lastname@example.org. You can follow him on Twitter at http://twitter.com/imrananwar