Subpoenas are Being Handed Out Like Peanuts at the Ballgame

Looks like Lehman Brothers has been hit with 12 subpoenas and 3 grand jury investigations and geez they are already bankrupt! I cant wait till the courts start going after the guys that are solvent. Wont that be a pisser if some of these Lehman guys go to jail? Worthless stock, no gig, and 10 long at Leavenworth. It could happen.

I just hope there isnt too much US taxpayer money wasted on these hearings, trials, etc. We seem to be spending a lot of money these days at taxpayers. But the hearings always do provide some inadvertant comedy. Stay tuned!

Comments

[Strangebrew]

The bitter pill of the coming Obama tax hikes would go down a bit easier if I knew it was going to go towards balancing the budget or paying down debt. That would be change I could believe in. I don't see how Barry can have the government take over health care and spread a bunch of wealth to the poors of our country and the rest of the world while keeping the budget balanced though.

Axel, campaign contributions pale in comparison to the leaks in the economy. Obama has raised $600 million since he started in 2007 (and the bulk of that money cycles back through the economy in the form of advertisments, etc. so it's not really a drain). Our current problems are measured in trillions...not billions, and certainly not hundreds of millions.

The fact is that us Americans as a whole have lived beyond our means for the past few decades. That will come to an end at some point, we can't continue to borrow against the future forever. Either candidate is going to be placed in a no-win situation, unless they take the easy way out and continue to borrow against the future. We can face these issues now (medicare, social security, a Federal Reserve system that reports to nobody and is allowed to make the US Dollar worthless via printing money out of thin air, Armed Forces acting as world's police agency), or go through much greater pain 20-50 years from now. Short-term history tells me we can not handle the pain.

To be honest, I'd rather see a third party candidate be elected. The two-party system in America is part of the cause (and, yes $600 million could be used in better ways than being spent largely on the media). If you think the last eight years have gone well and want to vote McCain because of it, consider that our deficit has doubled from 5 to over 10 trillion dollars in the last eight years...5 trillion dollars can mask a lot of problems. In my opinion, Ron Paul was the man for the job, not McCain or Obama.

P.S. Your taxes are going to go up over the long term regardless who is President. That 5 trillion will need to be paid back at some point and our future obligations is in the neighborhood of $50+ trillion when you account for Medicare, Social Security, etc.

[axel]

question: maybe i'm really dumb, but if obama stopped raising money for his campaign would our financial crisis be over in minutes? it seems the money he has sapped out of american's pockets over the last two years+- would more than fix the leaks in our economy and the deficit combined, no? am i missing something? i still say the guy has a very handsome face and a likeable voice and says lots of nice words that sound terriffic, but he will do nothing more than self serve and tax us all to death. or the brink of it. all the while immortalizing himself and lining his pockets forever. which is contradictory to the person he is presenting himself as being. i just don't get it.

[eric]

Thank you Layla! What a nice surprise.

[Layla Morgan Wilde]

I say it's poetic justice. On another note... break out the Pinot, your blog is featured today at my blog, the Boomer Muse at www.laylamorganwilde.com