naked capitalism

Independent Accountant says:

If they expand it adequately, there need not be a “waiting list for jail”. Imagine Mozzilo’s embarrasment by his having to publicly admit he was “wait listed” for jail.

Doctor Memory says:

Let us not for a second forget Clinton, Rubin and Reich, under who’s watch the Citibank-Travellers merger and the implicit death of Glass-Steagall happened in the first place.

bena gyerek says:

sorry for sounding sanctimonious, but i would prefer these people where appropriate to be given a proper trial, fair due process in us courts, and convicted if they are guilty. only that way will it be unambiguously demonstrated the harm they have done.

lrm21 says:

Yves,

I follow your blog with much devotion.

But I need to correct your here. After this financial mess is resolved, some years from now. The biggest existential threat to western liberal democracy after fiat currencies and debt obsession is Militant Islam. While GTMO has its problems, there is no doubt that if we do not deal with Mitlitan Islam with the same resolve that they are dealing with us, we will lose our way of life Numbers and commitment are on their side, see Hitchens, Fallini, et al.

Europe is already dissappearing to Islam.

Check the news in Mumbai today for what’s yet to come.

Second as someone in agreement with the disaster that has been the Bush years in many respects. I still can’t believe that someone of your intellect is infected with BDS (Bush Derrangement Syndrome). Already this virualent strain has morphed and is infecting many on the right, the new name is ODS(Obama Derrangement Syndrome) like the Bush version, those infected are apt to talk in melodramtic flairs of the conspritorial nature of those in power. How they seek to change the very nature of government so they can profit for their families and remain in power for life.

Lets stay focused, in the end lets see these men and women for what they are. People who rightly or wrongly have been raised in a flawed system and put in power to repair the un-repairable, and make up for the self serving nature of the electorate.

See you in Havana!

Dave says:

I would like to see the Wall St golden parachute replaced with the orange jumpsuit. Retrospectively.

Similarly, the provision of orange jumpsuits all round would make a worthy addition to the new executive compensation package “to be approved by USG” (or whatever the words were) as part of the latest Citi bail-out.

Am I alone in thinking that greedy bankers have done what terrorism could never hope to achieve – namely, the slaughter of the American dream – a functional, liberal, free market economy shared for the good of all. The democracy we enjoy and treasure is safe-guarded by a stable economy; an attack on economic stability is tantamount to an attack on the democracy itself.

I think a case could be made that the worst of their actions constituted treason, or essentially, an act of financial “terrorism” upon the democracy of the American people.

CrocodileChuck says:

You missed one: the architect of the sordid idea in the first place: Rumsfeld.

And, please include the Kagans and Bush’s most stalwart water carrier: David Brooks

Crocodile Chuck

Anonymous says:

Let’s get real – we can’t afford overseas bases. It’s folly to think we can. Start closing them down worldwide. America is busy drowning in a sea of debt.

russell1200 says:

Most of the people you mention I hold with very little regard. But you seem to be lumping an awful lot of “crimes” together.

Kathrine Harris?

Anonymous says:

Please stick to the Financial Analysis. People dont come to the this site for political opinions. Even if you are correct.

Anonymous says:

“I do work in the Intelligence world. My opinion is that Gitmo is going to be around for while under President Obama, because now that he is about to take over, he is discovering the problems that he demagogued were actually quite real, and are about to be all his.”

You’re entitled your opinion. You’re equally entitled to your apparent lack of sense of humor.

A large number of supposedly civilized/intellectual Republicans showed their true colors during the presidential campaign, when they downplayed Palin’s race-baiting and neo-McCarthyism, dismissing criticism of the incitement of increasingly violent crowds as over-reaction.

As dismaying as that was to witness, it’s nowhere close to as galling as the suggestion that calling Gitmo disgraceful is somehow an act of ‘demagogy’.

Fuck you, you fascist prick.

patrick neid says:

Yes, I see the cool aide is really making the rounds tonight.

bg says:

I am sure all you said was meant with a seriously large tongue in your cheek. But I none-the-less find it all out of bounds the way I am sure you would find anti-feminist or anti-gay rights rhetoric. We positively should not criminalize politics. I guarantee you it works both ways. If you make politics too low, only the low will go into politics.

If you can make a legal case much stronger than that made against Bill Clinton, then prosecution might be applicable. I would not, for example, want to prosecute FDR for interning Japanese. That dispicable act was made in good faith in the act of governing.

Abbott_Of_Iona says:

Two words. Due Process.

The facility cannot just be “closed down” or cannot Justly be closed down without Due Process.

The USA cannot simply “free” those who have been incarcerated without due process. And if their Liberty has been taken without process it seems clear that the USA cannot “walk away” from its self declared obligation to be a beacon of the free world.

Damage has been caused and damages must be paid.

Equally without due process no other human being should be dispatched to the facility, if that were to happen the USA would heap disgrace upon disgrace.

Public servants have obligations to the public (State).

Given the monumental mess that GW Bush and his administration have made of the (public good of) the USA, it should not be too difficult to allow due process take place and for the State (public) to act.

Except for one thing, the legal profession is as corrupt as the political profession which is as corrupt as the Financial Profession.

However, we live in hope of Justice.

One thing seems clear, GW Bush will go done in history as the worst President the USA has had to date.

He has failed militarily, economically, and diplomatically.

But his worst failure is that he failed the Republic.

Anonymous says:

Yves,

I’d add Nancy Pelosi to your list if it were a crime to be an air head.

Her edict, “Impeachment is off the table” exonerated the admin at the same time signaling that the American people were fair game for any atrocity they could imagine -two whole years to have their way with us -and they’re not finished yet.

doc holiday says:

Pelosi did have a voter mandate for change and then used her power to take impeachment off the table. Two years later, Pelosi remains in power as a great symbol for a rotting American corpse and the corrupt government we now have.

Pelosi is an example of rotted leadership and a person who has clearly abused power!!! Why is she still in a role of leadership? She needs to step down ASAP and allow change to have a realistic chance, versus having her fuck up for another two years!

The vast majority of these Senate & Congressional cowards that pumped TARP and ignored voters should be reviewed for treason. There is no reason that Pelosi should hold her position today or in the future, because she and her fellow Democrats were charged with a mandate for change two years ago — and every one of those scum failed America!

Two years ago, we heard this: "Senate Minority Leader Harry M. Reid of Nevada told supporters, "All across America tonight . . . there is in the air a wind of change."
http://www.washingtonpost.com/wp-dyn/content/article/2006/11/07/AR2006110700473.html

There are countless guilty actors in all this and Pelosi should step down, along with every member associated with every financial committee that sat back taking bribes from lobby groups!!!

It is a disgrace to allow these people to represent The Constitution and America! Every pig here below should resign — or go to prison for treason!

Christopher J. Dodd Chairman (D-CT)
Richard C. Shelby Ranking Member (R-AL)
Tim Johnson (D-SD)
Robert F. Bennett (R-UT)
Jack Reed (D-RI)
Wayne Allard (R-CO)
Charles E. Schumer (D-NY)
Michael B. Enzi (R-WY)
Evan Bayh (D-IN
Chuck Hagel (R-NE)
Tom Carper (D-DE)
Jim Bunning (R-KY)
Robert Menendez (D-NJ)
Mike Crapo (R-ID)
Daniel K. Akaka (D-HI)
Elizabeth Dole (R-NC)
Sherrod Brown (D-OH
Mel Martinez (R-FL)
Robert P. Casey (D-PA)
Bob Corker (R-TN)
Jon Tester (D-MT)

"Cassandra" says:

Hi All,

Cassandra here. Yves, didn’t post this – it was meant for CDT and I mistakenly submitted it in error to the wrong blog in my haste – a blogger’s “fat-finger error”. You surely know Yves has far more discretion (not to mention gravitas) than the quasi-satirical drivel I scrawl upon my walls. So apologies to all – especially Yves. That said, if it made you smile – great! If you were in some way politically offended, I also extend my apologies as I understand you didn’t sign on for it.

bg says:

Thanks Cassandra,

in context your post was fine. Out of context it was inflamatory. I appreciate your clarification a ton.

Mayberry says:

As you cleanse the last eight years of its villains that cling to America’s colon like spackle or paste – consider the old villains who are about to return (and who have been present all along). The remedy you are prescribing is cleverly presented, but sadly naive and vindictive.

The problem is not the spackle and paste but the cancer of power, politics and special interests that has metastized as it consumes the American Dream including the Change We (so desparately) Need.

I feel sorry for you. Given the opportunity and a platform to address the issues of the day you choose revenge and even hatred rather than hope.

"Cassandra" says:

In all earnestness (and there is seemingly much here) what I really wish for is not, amusing as it might be to those who feel violated and failed incarceration and torture (though that might teach them a lesson) – but rather that there was a stronger sense of shame that would provide a more powerful deterrent to stealing from one's neighbor, willful neglect of trust & responsibility, or poo-ing in the public water supply. I recall the story many years ago of a paedophile in County Armagh who remarkably was "sentenced" to keeping his rather public role at the observatory, to daily wear his scarlet letter and confront his shame and humiliation face-to-face in front of the Community. It ought to be both a more powerful deterrent and punishment, but in the land of the individual, its nary a flea-bite upon the prevailing narcissism and parochial greed. That IS hope over revenge, not to mention reality. But I hope nonetheless.

Jimbo says:

I must admit that I would enjoy seeing the Wall Street bankers forced to take off their $2,000 pinstriped suits, their cufflinks, their Hermes ties, handing over the keys to their offices and their cars and given jumpsuits.

After the huge losses they helped create and their equally huge bonuses, a change of image and environment might give them some perspective.

I can just imagine the responses of Bear Stearns’ Alan Scwartz and Lehman’s Dick Fuld and Fannie Mae’s Daniel Mudd when the guards tell them to take off their mirror-polished, handmande-in-London brogues and silk socks and hand them plastic flip flops in exchange…

Anonymous says:

Cassandra –
Thanks for clarifying that this article was actualy from you, and not from Yves. I’ve come to regard Yves as quite brilliant and level-headed. I couldn’t believe that she was capable of even thinking, much less writing, something so childish and moronic. Glad we cleared that up!

awj says:

I love how people feel free to lob “childish and moronic” barbs from behind the Anonymous moniker. Such compelling outrage! I can hear the pearls being clutched across the internets.

Here’s hoping with Cassandra that “a stronger sense of shame” about things that actually matter returns to our fair shores.

Andy says:

Hear-here Yves! Excellent suggestion!

Anonymous says:

whitetower,

I probably not dignify your comment by a response, since you have formulated a point of view based on rather dubious information, namely, assertions from the Bush administration, which has lied repeatedly and without shame to the American public.

You claim that the detainees are “radical Islamic savages.” THERE HAS BEEN NO DUE PROCESS HERE. How can you be so sure? And do you think this Administration is going to admit they rounded up the wrong guys? After the international condemnation Gitmo has attracted versus the Bush hard line, they have no climb down here. Every indication is that many, maybe even most of the detainees were low-level guys, and some may have been people in the wrong place at the wrong time. We’ve seen that happen with rendition cases, why is there any reason to expect the process was any better with Gitmo?

The six British citizens and two Australians held were protested by their governments.

doc holiday says:

In closing:

In each human heart terror survives
The ravin it has gorged: the loftiest fear
All that they would disdain to think were true:
Hypocrisy and custom make their minds
The fanes of many a worship, now outworn.
They dare not devise good for man’s estate,
And yet they know not that they do not dare.

… The Second Coming (poem)

http://en.wikipedia.org/wiki/The_Second_Coming_(poem)

See: The lines “The best lack all conviction, while the worst / Are full of passionate intensity” are a paraphrase of one of the most famous passages from Percy Bysshe Shelley’s Prometheus Unbound, a book which Yeats, by his own admission, regarded from his childhood with religious awe:

See also: Turning and turning in the widening gyre,
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity. …

Stephen Lins says:

Re. the comment of 3:29 am: Great. Now a respected financial blog has been reduced to anonymous posters linking to their favorite Truther site. Time for some kind of registration?

chapter 7 says:

DD said…

Actually what you have written is a how to manual on starting a blog – I suspect the comment part is a bit tricky – but a good approach to start — as for the gitmo article – probably chapter 3 of how to generate short term traffic – or chapter 7 on things a blogger should avoid lest they damage their credibility.

Good post

"Cassandra" says:

DD,

Look, satire is satire. Don’t take it for more, and in any event the satire was mine, and not Yves. As I said above, she exercised no editorial control outside of letting my mistakenly submitted post stand which I surmise was more out amusement at the comments than tacit editorial agreement. As for the political orientation – some things are just funnier and possess more irony than others. Interpret that as you like.

With respect to the hyperbole about Yves credibility, most readers here would beg to differ and they vote accordingly by reading and contributing. She provides a valuable public service to many (and it IS a public service for there is little recompense), and has at once been both wise and prescient in her focus on topics long before they hit the news-stand or mainstream media. In my opinion she distills as accurately and effectively as humanly possible with a heightened bull-shit detector which is highly valued to one that is time-constrained since there is so much content out there.

More curiously, IF you find no value in NC, why are you even here?

artichoke says:

I’m glad Yves does her blog. It is her blog and if she uses it to spread her political views … it is her blog. But she allows others to post comments and spread their own views.

Exactly what happens on rgemonitor, calculatedrisk, etc. If you don’t like the blog / comment format, browse elsewhere. If you do, use this blog to spread your own views. Or start your own.

So I guess have to ask you DD: “where’s the beef?”

Yves Smith says:

One more DD matter: columnists from various major media outlets (FT, Bloomberg, the Economist, UK papers) write me directly to encourage me to highlight and comment on their work. They find it of value to them to be featured here. So if the very journalists themselves WANT this treatment, pray tell who is harmed?

Get a life, and if you want an audience, get your own blog. You will find out soon enough how much work this is.

Bruce H says:

To Anonymous who called me a “fascist prick”, try harder next time. I suggest starting in Pashtun as it really comes off much better.

To Skippy, thanks for the comment. I don’t use the term “Evil” lightly. If you can ever review some of the discussions with KSM, you may come to similar conclusions. I agree that the Intel community’s duty is to discover and disclose the truth so that informed action can be taken. But really, some of those guys are evil. I am not sure there is a better way to describe it.

If folks want to let them go, god save us all.

Anonymous says:

Fred,

I saw DD’s comments. They were abusive and took issue with standard practices of many well regarded blogs. If you don’t like the basic premise of blogging, don’t read blogs.

As for censorship, you are really off base there. Any MSM outlet controls its content far more than any blog comment section does. Yves almost never deletes comments, and in this case, it was warranted. DD was so belligerent that if she had engaged him, he would have insisted on having the last word. I’ve seen that type here and even more on political blogs. That is why the comment stream is so good here, for the most part, that sort does not show up here. The ones who insist they have a monopoly on truth and won’t get off their soapbox suck all the oxygen out of comments.

Anonymous says:

@Bruce H, to clarify my statement, the word “Evil” has a religious / spiritual connotation that can be used to manipulate and incite base feelings in others and with out having to explain the person / groups actions or reasons for their actions.

It is, the kind of word used for propaganda proposes, not informing the recipient of that statement to the facts, concerning those implied. It is a broad statement with out insight or clarity. There for, I found it curious that some one with a job that requires precision in wording would use it.

For the inmates at GITMO, all I wish to see, is for them to be tried not un-like the Nazi’s at Nuremberg for all to see. Then address confinement to those found to be guilty by due process. They are “our” prisoners and like all in the past, should be treated accordingly by Federal and International law.

Hope you don’t take this post as a rebuke of yours, just wanted to make myself clear.

Skippy

Anonymous says:

If this would be done, the US would have a chance to restore its credibility. Perhaps even Iran could do without nuclear weapons.

BTW,
convicting people who are responsible for millions of deads, is not ‘partisan policy’.

Anonymous says:

Robert,

I love how you guys feel free to make pot shots without reading. Yves did not write this post and therefore has no vested interest. Guess that little detail somehow passed you by in your righteous indignation.

In addition, most blogs have clear policies about acceptable comments. Just about all MSM blogs are moderated or have software that rejects certain words. I read comments pretty regularly, and Yves also takes issue with people who get snarky with each other.

I see you are the sort who is more interested in his own self-importance than making a useful contribution. I do not welcome this sort of waste of space and hope you take your misguided anger elsewhere.

The reason comments here are good is the few super jerks who show up either leave or are encouraged to leave. Robert, you have identified yourself as that type.

Robert says:

Geez Looweeze- I’m just trying to make friends! Anonymous- quit picking on me- you know I have low self esteem. Yves- my apologies- I actually like your blog- not sure why that post got to me (it just seemed so partisan)I agree with you almost all the time!

visitor from rgemonitor says:

Anonymous said…

Jason,

What a jerk. Do you bother reading other blogs? I am sure Yves was aware of the irony and decided to rub your face in it.

________________

Anonymous you seem very angry as do some of the others. I wonder what the source of all of this animosity is? Even Yves has jumped into the fray appearing to be overly defensive of her journalistic stature. It would seem to me that in the blogger medium one should be able to (and be prepared to) address criticism without reverting to child like tactics including name calling and expulsion from the clique. A healthy community should be able to embrace those with differing opinions and respond to challenges in an enlightened manner. If anything this “Gentrifying Gitmo” post has demonstrated the narrow-mindedness and insecurity of many of naked capitalism’s followers and sadly its author.

visitor from RGE says:

Anonymous said…
This is 10:03 PM.

Yes, I did see it – too bad others cannot – it actually was a clever, albeit negative parody of the approach Yves and other bloggers use. It was not profane, nor was it vulgar but perhaps it did touch a nerve. A blog owner has the prerogative to censor whatever they choose, but in doing so they reveal something of their character; in this case I suspect some deep seated insecurities. Hopefully DD will find a place to re-post his/her parody.

Richard Smith says:

Anonymous of 2:32, you may be wasting your time with “visitor from RGE”, with his faith in the value of ad-hominem argument, and “Jason Blair”, who can’t even spell his own pseudonym propely.

There’s only one person on the planet who thinks DD’s post was a clever parody, and that’s…DD.