The Election and Wall Street Corruption

The GOP field is finally starting to take shape with the formal announcement that Herman Cain will be in and Indiana Gov. Mitch Daniels will not be joining the party. Herman Cain was on Fox toady where he laid out some of his plans as the potential next president. He made a smart and wise move by not saying what he would do with the Mid East saying that he feels it is best to wait to make a well informed responsible decision once he has all the information. Of course he will not be granted access to the classified information or able to meet with military advisers until after he wins the election. This is a very intelligent move I believe because no voter wants to hear made up plans by candidates. I think he is smart for speaking the truth; that he does not yet know what he would do because he does not have the information that is needed to make the right decision for America. It pleases me that finally a politician says what he is really thinking rather than saying what he/she thinks the people want to hear, because the truth is that the people want the truth not some made up garbage. I think it is going to be a close race for the republican nomination and it will be interesting to see how it plays out. The next major debate is in New Hampshire in a few weeks, (I think) .

The story of the spies that were arrested in Iran over the weekend has seem to have disappeared, not surprising I know. The only fact that I could dig up was that it was 24 not 30 that were arrested, with a total of 42 names coming up in the network of spies. The story has even been wiped off the CNN website, very strange, but I'll keep looking.

A tornado swept through KS last night, leaving one dead and a couple dozen homes destroyed. The threat of bad weather continues and the flooding continues along the Mississippi. Also the number of Hurricanes, experts say, is going to be more than last year with more hitting the US. Its going to be a wild ride this year and I hope that not to many people are impacted by this. I hope that everyone prepares for the storms and stays safe.

An issue that I would like to bring up now is Wall Street. It is the people that run Wall Street that caused the American economy to spiral out of control in the latest recession. I'm speaking of S&P, Goldman Sachs, and JP Morgan Chase. They were giving everyone loans when they new a large percent of them would not be paid. Why would they do this? Because they executives that ran these companies were profiting form people not paying their loans. They were actually betting that the loans would not be paid. How were they allowed to do this? Because the FED Chairman Ben Bernanke was in on it. He kept the government form regulating the industry for this specific reason, why else would he take a huge pay cut to take on the job. It is time that we call on Congress to regulate the industry so that the people do not have to suffer through another recession again. While in this recession, the top executives at these firms were getting millions in bonuses every year. One of the bonuses was around 50 million dollars while the average person was losing there house to foreclosure and bankruptcy. S&P was behind most of it. They were giving every loan a triple A (AAA) rating allowing everyone even the people that had no business getting a loan to acquire one anyway. I urge everyone to watch the movie Wall Street because it does a good job of depicting how it actually all went down.