Rattlesnake Ridge      

 
      BFF

“Months before MF Global teetered on the brink, federal regulators were seeking to rein in the types of risky trades that contributed to the firm’s collapse. But they faced opposition from an influential opponent: Jon S. Corzine, the head of the then little-known brokerage firm. As a former United States senator and a former governor of New Jersey, as well as the leader of Goldman Sachs in the 1990s, Mr. Corzine carried significant weight in the worlds of Washington and Wall Street. While other financial firms employed teams of lobbyists to fight the new regulation, MF Global’s chief executive in meetings over the last year personally pressed regulators to halt their plans. The agency proposing the rule, the Commodity Futures Trading Commission, relented………….”

Who said there is no bipartisanship in the U.S. Congress? There is in fact a lot of it, but it is not used to help the American people. Look at Goldman Sachs: how many federal government potentates, of both parties, have come from that vampire venerable institution? Not to mention other financial institutions. Jon Corzine (good Blue Northeast Democrat) used to be chairman of Goldman Sachs, before he decided to purchase the state of New Jersey as a senator, then as a governor. Robert Rubin was a honcho of Citibank (Citigroup) before he joined the Clinton administration. And there have been many others.
Then there is the money, lobbyist money, political cannabis, “Texas Weed” as I might call it. The money unites both parties in a bond of unprecedented bipartisanship. There is something that is noble about lobbyist money, corporate money: nothing could bring these two major parties together like lobbyist money. Nothing like bipartisanship based on free markets and the freedom of corporate expression (the latter courtesy of, a gift of, the Supremes).

Cheers
mhg


[email protected]