(The Fool's Prayer, Edward Roland Sill, 1841-1887)
Cleverly Adapted by WilliamBanzai7 For Zero Hedge
THE ROYAL FEAST WAS DONE; the Chairman sought some new monetary trick to banish care,
And to his jester cried: "Sir Fool,
Kneel now, and make for us a Keynesian prayer!"
The jester doffed his cap and bells,
And stood the mocking court before;
They could not see the bitter smile
Behind the fractional reserved grin he wore.
He bowed his head, and bent his knee
Upon the desperate Chairman's silken stool;
His pleading voice arose: "O Lord,
Be merciful to me, a Keynesian fool!
"No pity, Lord, could change the heart
From red with debt to darkened wool;
The markets must heal the sin: but Lord,
Be merciful to me, a Keynesian fool!
"'T is not by gilt the downward steep
Of truth and right, O Lord, we stay;
'T is by our follies that so long
We hold titled men of fraud away from Dante's fate.
"These clumsy feet, still in the economic mire,
Go debasing common wealth without end;
These duplicitous hands we thrust
To pull the heart-strings of our bankrupt friends.
"The ill-timed truth we might have kept--
Who knows how sharp it pierced and stung?
The word we had not sense to say--
Who knows how grandly it had rung!
"Our faults no tenderness should ask.
The chastening jail stripes must cleanse them all;
But for our fiat blunders -- oh, in shame
Before the eyes of market heaven we shall fall.
"Earth bears no balsam for mistakes;
Men crown the knave, and scourge the tool
That did his will; but Thou, O Lord,
Be merciful to me, a Keynesian fool!"
The room was hushed; in silence rose
The Chairman, and sought his gardens cool,
And walked apart, and murmured low,
"Be merciful to me, a Keynesian fool!"
“In Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are there to serve the banks.”
ReplyDelete-- Rep. Spencer Bachus (R-AL) — who will become chairman of the House Financial Services Committee in the 112th Congress
Bachus told a crowd of 100 financial services industry lobbyists that banks should really be making campaign contributions to Republicans.
Bachus has staunchly opposed the creation of the new Consumer Financial Protection Bureau.
Now that he’ll be taking the Financial Services committee gavel, Bachus has telegraphed his intention to weaken some of the Dodd-Frank financial reform law's most important sections, including derivatives reform and rules meant to prevent banks from making risky trades with federally insured dollars.
We can see who owns us.
You're right, the feds are in cahoots with the big banks and the big banks are in cahoots big time with the feds.
ReplyDeleteHave you ever heard the name Hank Paulson?
The real way to cut down and eliminate ill-conceived deriviatives trading and untenable mortage backed securities is to let the bad ones fail and cause enough pain to investors such that they never venture there again. The big banks and big government doo-doos want to cover all mistakes and eliminate the term 'bankruptcy' from American lexicon. It's an even bigger train wreck waiting to happen.