Goldfish Slacks

Listen to Mini Me Neil Kashkari aka the “700 billion $ man” former head of TARP declare that politicians and Wall Street banksters that got us into this mess are “patriots”. Yes, these greed mongers who gambled and lost OPM (other people’s money) and used more OPM via the taxpayer to cover their asses from their vast losses are patriots (like a 20 yr. old serviceman dodging bullets in Iraq). The Armed Forces service people are the patriots, not the banksters (as a former Marine I take offense to his statement). The politicians who bailed out the banksters that got us into this mess aren’t patriots. How dare he say such a thing when there is a war and people are dying in Iraq. Politicians maintaining power status quo and doing their job now deserves the Medal of Honor. Wall Street banksters making millions in annual salaries, greasing the palms of politicians, while collapsing the financial system are very patriotic. How dare he say this when there are people in Iraq (like it or not, but they are there) risking their lives so wall street banksters can be “patriots” and receive lavish salaries and bonuses for losing money. What heroes they are. They all deserve monuments.

Indeed Kashkari “the patriot” did win huge Shrimpton points for admitting that all the banks needed the bailout $ (he still looks like mini me though). All the big banks blew up including Goldman Sachs (GS). All the banks still have toxic crap assets on and off the balance sheet. If fundamental economic reality had any correlation to the stock market, the S&P/DOW would be not at the current 10K levels. What the stock market has going for it is economic and Accounting reality takes a back seat to “better than expected, less worse, better than revised downward what was expected before” Wall Street and CNBC pump (in addition to the FED trading desk S&P market manipulation. More on that later).
http://www.wallstreetwrath.com/2009/10/dont-get-high-on-your-own-supply.html

Kashkari made a point (though it will never be heeded) that banksters should show some restraint and sensitivity from their smugness that they deserve their bonuses. They certainly don’t deserve bonuses. Banksters blew the system up. Shrimpton is tired of the threats: “bail us out or else the system will collapse!” or “keep bailing us out and pay us lavish bonuses for losing money at our own casino or all the ‘talent’ will leave to go offshore for we are monkeys pushing keyboards*. So give us taxpayer money or we will walk!”

Where will they go? I say let the ‘talent’ that collapsed the system go. Let them go offshore (or wherever they threaten to go). Notice it’s never said where exactly as they are veil threats to scare politicians (you know the patriots) to give them what they want (taxpayer money). Will they go to a foreign bank? Don’t think so as they are in the same trouble as the US banks. Who buys these puny threats? Answer: the ‘patriotic’ politicians. With CNBC pump constantly praising the importance of wall street and how awesome they are, the sheeple ultimately buy in also. Indeed America needs more keyboard pushing wall street monkeys*. They are more important to society than Oncologists (CNBC would have you think so).

*Shrimpton is regrettably a keyboard pushing monkey but I’m 100% independent and not asking for, or getting, any free taxpayer bailout money.

Kashkari claiming he took a pay cut because he’s a patriot? Not so fast! Both he and Hank Paulson sold their Goldman Sachs stock near the top and paid no capital gains taxes on it because they went to work for the government. This saved them tens of millions of dollars. The patriot Kashkari and Paulson made $ by working for the government because they had no tax bill. FORTUNE magazine: “One fringe benefit was the capital gains tax exemption given to federal appointees who have to sell holdings before they take office: When Paulson sold his $500 million of Goldman Sachs stock, he saved tens of millions of dollars.” They knew they were selling the top of the market.

Enough with the self-congratulating patriotism. Paulson was the CEO of GS and he and Kashkari knew intimately it was a pressure cooker about to explode. He escaped unscathed. Kashkari and Paulson worked for treasury for a couple of years saving millions in taxes and we should thank them for saving the wall street status quo? Those patriots! Of course they will say “see we fixed it! The S&P is up 60% (from FED manipulation) while unemployment only grows. Real people in the real world (non NYC Wall Street) get laid off and don’t get bonuses, neither should the clown banksters.

Note to Wall Street: have respect for the real patriots and stop being so smug. Mini me should spend a day in Iraq for calling himself a patriot when he used a tax dodging scheme selling GS at the top and going to work for the government. They KNEW it was all going to crap. They save millions in taxes. He made $ working for the government in tax savings alone. Now both he and Paulson will write books and go on the lecture circuit and make more millions (Paulson in fact has a book deal). What a patriotic pay cut they took for America! Don’t be fooled by more Wall Street lies. And recognize how corrupt these guys are. The Fed is their partner. They blew it all up and they still want bonuses. Why should they be rewarded? Kashkari says Wall Street should show restraint yet he still wants his club to be overpaid by not wanting the government to regulate pay. Talking like a true politician out of both sides of his mouth.

Watch the video before CNBC takes it down b/c Shrimpton and CNBC don’t like each other. I’m loathing sending wallstreetwrath.com readers to CNBC’s site.

http://www.cnbc.com/id/15840232?video=1301951033&play=1