Saturday, June 9, 2012

Sabotage: Republicans attempt to stop the economy cold

For close to a year, Democrats have been aware of  Republicans gathering to stop the economy dead for the political purpose of getting rid of Obama.   The Tea Party told small businesses not to hire anyone.

Big business said they have trillions stashed overseas that they would love to repatriate if only their US taxes were lower  or they had a tax holiday (of course China wouldn't let them move it all back anyway).

 But apparently the GOP has realized it has not done enough, and that the public employee cuts have not stopped the increasing momentum of the private sector.

Therefore the rating agencies are now poised to shut down the entire economy by downgrading America's largest banks.  America's largest banks are a cesspool, and they were never reformed - largely because of Republican obstruction in 2009.  But they aren't any more crooked or exposed this week than a month ago or a year ago. It is blatant political terrorism.

Who owns Moody's? Investor Warren Buffet is said to be its largest shareholder, but Vanguard and  ValueAct, founded by Vanguard principals, had compiled just a fraction fewer shares, and may well have taken over control of the company in recent weeks or in tandem with Jeffrey Rothenburg of Los Angeles's Capital World. Here's something else, the money laundering Wells Fargo Bank is the one bank left off the downgrade list.  Its largest shareholder is also said to be Warren Buffet. On the other hand, Moody's also downgraded ITSELF, a curious move.  It may be an effort to split Buffet from Obama.

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