MarketWatch: Obama vs. Goldman's Reaganomics

[marmar]

April 20, 2010, 2:59 a.m. EDT ·

Clash of the Titans: Obama vs. Goldman's Reaganomics
Commentary: Release the Kraken, kill Dodd's reforms, set up Wall Street Meltdown 2012

By Paul B. Farrell, MarketWatch


ARROYO GRANDE, Calif. (MarketWatch) -- Ancient stories oft retold: Blame the mythic gods for today's political crisis, for Wall Street's 2008 meltdown, America's $23.7 trillion new debt, for Beck, Palin, the Tea party, and now for Goldman and the resurgence of Reaganomics ... Yes, the Kraken was released, ravaging American politics.

Since time immemorial humans have seen their struggles as endless battles between the gods, Zeus and Hades, good vs. evil, the forces of Heaven battling the Underworld. ... so we blame Zeus ... or his arch-enemy Hades for releasing the Kraken, the deadly evil monster that devours good ... yes, blame the gods, yes, "the devil made me do it!"

Backflash: To that crucial moment, election time 2008 ... when Wall Street's near-death experience opened the Gates of Hell, beckoning Wall Street's too-sinful-to-save bankers ... Hades, ruler of the Evil Underworld, counter-attacked ... first releasing his Trojan Horse, the Treasury Secretary, to save his dark legions from certain destruction ... Henry Paulson kept Hades' warriors alive ... but Zeus feared Hades was preparing for a bigger catastrophe on earth, created a new Perseus, his son, the hero who must finally defeat Hades and his dark warriors ... for that role Zeus cast Barack Obama. But remember, Perseus is half-human, may be no match Hades' ultimate WMD, The Kraken.

Flash forward: Elections 2010 ... the eternal battle rages on Earth, growing louder, more violent ... The Kraken, reborn as Goldman and the too-political-to-fail Wall Street Greed Machine was winning many battles ... concessions on derivatives and fiduciary regulations, disclosures, on the CFPA ... yes, the Kraken returned from the Darkness, more powerful, thanks to a raid on Treasury. ......(more)

The complete piece is at: http://www.marketwatch.com/story/president-obama-vs-goldmans-reaganomics-2010-04-20