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Kurmugeon

Verified User
Smoke rises from Artwork and Culture of Millennia pillaged in propaganda rage,
Below, Turbaned Ghouls sneer at kneeling defenders, bound to their death and headless children twitch and gout.

The spectral prophets of the King decry "It is Spring come again to Allah's Chosen",
and the King's Men open the gates for the Horde in Welcome.

The Mirror-of-Media shows the King's chin lifted in self-admiration,
while the Hag of Contempt casts incantations of envy and greed at all within view.

Eyes as pitiless as the desert sun,
stare upon silent screens screaming of the death of Trillion$,

While the raucous calls of forum collectivist shills gloat at the carnage,
and nod their heads in unison, slavering at the feast to come.

And what rough beast, this Cloward-Piven, its hour come round at last,
Slouches towards Wall Street to be born?




Are you still proud of Obama?

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S.E.C. Concedes Oversight Flaws Fueled Collapse


By STEPHEN LABATONSEPT. 26, 2008
WASHINGTON — The chairman of the Securities and Exchange Commission, a longtime proponent of deregulation, acknowledged on Friday that failures in a voluntary supervision program for Wall Street’s largest investment banks had contributed to the global financial crisis, and he abruptly shut the program down.

The S.E.C.’s oversight responsibilities will largely shift to the Federal Reserve, though the commission will continue to oversee the brokerage units of investment banks.

Also Friday, the S.E.C.’s inspector general released a report strongly criticizing the agency’s performance in monitoring Bear Stearns before it collapsed in March. Christopher Cox, the commission chairman, said he agreed that the oversight program was “fundamentally flawed from the beginning.”



“The last six months have made it abundantly clear that voluntary regulation does not work,” he said in a statement. The program “was fundamentally flawed from the beginning, because investment banks could opt in or out of supervision voluntarily. The fact that investment bank holding companies could withdraw from this voluntary supervision at their discretion diminished the perceived mandate” of the program, and “weakened its effectiveness,” he added.
 
evince said:
S.E.C. Concedes Oversight Flaws Fueled Collapse


By STEPHEN LABATONSEPT. 26, 2008
WASHINGTON — The chairman of the Securities and Exchange Commission, a longtime proponent of deregulation, acknowledged on Friday that failures in a voluntary supervision program for Wall Street’s largest investment banks had contributed to the global financial crisis, and he abruptly shut the program down.

The S.E.C.’s oversight responsibilities will largely shift to the Federal Reserve, though the commission will continue to oversee the brokerage units of investment banks.

Also Friday, the S.E.C.’s inspector general released a report strongly criticizing the agency’s performance in monitoring Bear Stearns before it collapsed in March. Christopher Cox, the commission chairman, said he agreed that the oversight program was “fundamentally flawed from the beginning.”



“The last six months have made it abundantly clear that voluntary regulation does not work,” he said in a statement. The program “was fundamentally flawed from the beginning, because investment banks could opt in or out of supervision voluntarily. The fact that investment bank holding companies could withdraw from this voluntary supervision at their discretion diminished the perceived mandate” of the program, and “weakened its effectiveness,” he added.
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I posted this not the lie you claim
 
Truth of Satirical Prose comes from the insight and feeling it creates in the mind of the reader, allowing the recognition of connections of non-linear causes and effects.

You do not "Prove" it with a link, you feel, understand, and accept it.

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Kurmugeon said:
Truth of Satirical Prose comes from the insight and feeling it creates in the mind of the reader, allowing the recognition of connections of non-linear causes and effects.

You do not "Prove" it with a link, you feel, understand, and accept it.

-
Click to expand...


its lies
 
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