Happy Days are here again

Xmas came early to Wall Street when CT Representative Jim Himes shepherded in the gutting of

Dodd-Frank in the 1.1 trillion dollar spending bill passed by Congress by re enabling WS to use government backed monies to continue ginning the derivatives game for ever greater profits, thus eliminating risk due to the fact WS will get bailed out yet again, by us  rubes, when the market tanks, as it always does, based on the bubble mentality of how the banks, and significant others, manipulate money to game the system, using tech to make it happen.

Wall Street has for some time attempted to put taxpayers on the hook for its derivatives trades. I highlighted this a year ago in the post: Citigroup Written Legislation Moves Through the House of Representatives. Here’s an excerpt:

Five years after the Wall Street coup of 2008, it appears the U.S. House of Representatives is as bought and paid for as ever. We heard about the Citigroup crafted legislation currently being pushed through Congress back in May when Mother Jones reported on it. Fortunately, they included the following image in their article:

Unsurprisingly, the main backer of the bill is notorious Wall Street lackey Jim Himes (D-Conn.), a former Goldman Sachs employee who has discovered lobbyist payoffs can be just as lucrative as a career in financial services. The last time Mr. Himes made an appearance on these pages was in March 2013 in my piece: Congress Moves to DEREGULATE Wall Street.

Betrayal always has consequences as the French found out when they had their violent revolution (1789 - 1799), based on Popular resentment of the privileges enjoyed by the clergy and aristocracy "that" grew during a financial crisis following two expensive wars and years of bad harvests. something our so called leaders are doing, in similar fashion, in 2014.

Decency, security, and liberty alike demand that government officials shall be subjected to the same rules of conduct that are commands to the citizen. In a government of laws, existence of the government will be imperiled if it fails to observe the law scrupulously. Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy. To declare that in the administration of the criminal law the end justifies the means — to declare that the government may commit crimes in order to secure the conviction of a private criminal — would bring terrible retribution. Against that pernicious doctrine this court should resolutely set its face.

–  Louis Brandeis, Supreme Court Justice, in 1928

Amendment 28 anyone?