From time to time, the national news media bring up issues relating to
Chinese censorship on the Internet, often in relation to american companies
such as Yahoo aiding and abetting. As usual, we may have here yet another case
of the shill master trying to divert your attention from what is really going on.
I did not blog about the time I tried to post something on Yahoo about
the seventh planet in our solar system, and the name was replaced with "U)(*&&&%%$".
That was just too funny, but also too trivial to write about.
A friend of mine has been trying all week to post the following post
on one of the (USA) yahoo finance message bases. Every time he tries to
post it, the post is blocked, with no explanation. He emailed it to me
and I tried to post it there under my handle. Yahoo still blocks it.
"I'm not sure I believe the judicial system is all that independent anymore."
Oh yes it is. Don't buy the jive about that.
Yes, the mortgage bag holders know they've got to get the law changed now. They are toast. I suspect most of the states will rule the same way. What the wall street idiots did with the MBSs, or CDOs, or whatever, simply ignored the law. They wanted to turn mortgage lending into a casino.
To do that, you've got to grease the palms of the best gubment money can buy, like they did for years. They were so confident they could buy every Fed. regulator and politician in town they thought they didn't have to worry about the small time state judges. Big mistake.
Obviously, something has to be done. But at this point, I'm not sure what can be done. Obama says no more bailouts. I suspect Ben feels the same way. The recovery of the market takes the CDO crowd's leverage away. And Phil Graham no longer rules the Senate.
And the state court judges don't give a shiess about any of the above.
Well, lets see if Google will allow me to post it here ...