Anyway, I gave my speech, took a nap, and headed home to D.C.
with my wifey by my side.
Phil DeMuth called to tell me the stock market was down 700
points and I felt sick. You cannot imagine how hard I have worked
for my savings and now because of major incompetence on Wall
Street, major incompetence in the government, and (what I am sure
is) a conspiracy to wreck the financial system, I am losing a huge
chunk of my savings. This is not an accident. This was human
misconduct on a titanic scale, mostly having to do with credit
default swaps, terrifying financial instruments that are, as Warren
Buffett called them, “weapons of financial mass destruction.” He
thought they would be latent for a while and now they are blowing
up the whole world. I think the wet work, as we spy novel readers
call it, was done by cunning traders in New York and London. But it
might as well have been done by the Taliban or by al Qaeda.
I wonder if there is a crime based on economic treason. If not,
there should be.
Everyone told us to save. We did save. They told us to save most
in the stock market. We did. We diversified. NOTHING WORKED except
having it in Treasury bonds or guaranteed CDs. We citizens didn’t
do anything wrong and we got looted fantastically. The system has
been hollowed out by thieves and gangsters in pinstripe suits. And
Henry Paulson just sat there sucking his thumb and asking for even
less regulation and Chris Cox did the same over at the SEC.
Wow. Why was the market down so much? Because the House of
Representatives voted down the big bailout package for the banks.
Why did they do that? Because Americans are disgusted with Wall
Street sucking money out of us like giant ticks, growing fat and
bloated with our blood. We don’t want to give them still more
money, especially under the supervision of Paulson, who never
remotely did a thing to save us from the unfolding catastrophe and
is only in it to help out his ultra-rich Wall Street buddies.
It is a stinky bailout, but it has to be passed anyway. It is
really, really sad.
It is almost unbelievable the damage the finance people have
done. Never in peacetime has so much damage been done to so many by
so few. Paid the most in history by the citizens to do the most
harm in history to the citizens. Treason. Or something like it.
Ben Steinis a writer, actor, economist,
and lawyer inBeverly HillsandMalibu.
Ben Stein is a writer, actor, economist, and lawyer living in Beverly Hills and Malibu. He writes "Ben Stein's Diary" for every issue of The American Spectator.
Hello :D Is it alright if I go a bit off topic? I’m trying to
view your blog on my Mac but it doesn’t display properly, any
suggestions? Cheers! Tammera x Top banner
Thank you for taking the occasion to explain this idea. I’m
happy I discovered your website on this matter. I’m doing analysis
on this field right now and this assisted me a lot. Keep up the
good work.Best Racing
Car
John| 11.15.08 @ 10:56AM
Ben, yoo da' man! One of my favorite people, funny, upbeat, wise, and droll, all at once.
steve| 11.7.10 @ 1:30PM
I finally made a decision to compose a comment on your blog. I just desired to say good job. I truly enjoy examining your posts.best music Ringtone
lana| 11.7.10 @ 1:30PM
Hello :D Is it alright if I go a bit off topic? I’m trying to view your blog on my Mac but it doesn’t display properly, any suggestions? Cheers! Tammera x Top banner
jakcson| 11.7.10 @ 1:31PM
Thank you for taking the occasion to explain this idea. I’m happy I discovered your website on this matter. I’m doing analysis on this field right now and this assisted me a lot. Keep up the good work.Best Racing Car