Second, their stock prices went up at least 7% today, and frankly...that is all they give a shit about...who is kidding who here?
Third...the corporate media is covering BP's ass to the hilt...which is why they aren't talking about the possibility of the BP pipeline under the ocean floor now taking a huge shit. No need to worry the common folks...or as BP likes to refer to us...the little people.
Fourth...the wetlands, the people who live there and the 10,000 birds that are dying off the coast of Louisiana, not to mention my friend RJS's post on the toxic dispersants permanent effects on all living things... What-the-fuck will BP do to 'make them whole' again? Yeah right...
Enough on BP and their victory..The Obama/Dodd/ Frank Financial Reform bill has passed..whoopee-fuck. That watered down horseshit won't change most of the casino-style bullshit the Wall Streeter's pulled to get us into this mess. From Dean Baker's statement, someone I usually listen to on financial shit:
"The final bill passed by the Senate today and already approved by the House of Representatives will improve regulation in the financial sector. However, given the severity of the economic crisis caused by past regulatory failures, the public had the right to expect much more extensive reform.(emphasis mine)
"The requirement that most derivatives be either exchange-traded or passed through clearinghouses is also an important improvement in regulation. However, important exceptions remain, which the industry will no doubt exploit to their limit.Yes, we had every right to expect more from those fuckers..so don't expect me to get giddy over this horseshit ok boys?
"The creation of resolution authority for large non-bank financial institutions is also a positive step, although the fact that no pre-funding mechanism was put in place is a serious problem. Also, the audit of the Federal Reserve's special lending facilities, as well as the ongoing audits of its open market operations and discount window loans, is a big step towards increased Fed openness.
"On the negative side, there is little in this legislation that will fundamentally change the way that Wall Street does business. The rules on derivative trading will still allow the bulk of derivatives to be traded directly out of banks rather than separately capitalized divisions of the holding company. The Volcker rule was substantially weakened by a provision that will still allow banks to risk substantial sums in proprietary trading.
"More importantly, there is probably no economist who believes that this bill will end the risks of too-big-to-fail financial institutions. The six largest banks will still enjoy the enormous implicit subsidy that results from the expectation that the federal government will bail them out in the event of a crisis.
"Also, the fact that no regulators, most obviously Ben Bernanke at the Fed, were fired for failing to prevent the crisis leaves in place serious doubts about the structure of incentives for regulators. Cracking down on reckless behavior by politically powerful financial institutions will always be difficult for regulators. On the other hand, if regulators know that failing to crack down carries no consequences, even when it leads to disastrous outcomes, we can expect that regulators will have a strong bias toward ignoring reckless behavior.
On the homefront...yuppie sista is going crazy with Dad at her house...welcome to my world for the last two months chica. She is still giving me orders although we did have a huge come to jesus-type headbutting yesterday...and I came out on top. But, all in all...it's still a fucking mess. I am talking to the Escondido Director of the Humane Society (Her name withheld by me since it took me forever to work my way up to her level) in an effort to figure out what the fuck to do with Dad's wonderful grey cat that is still in that fucked up complex with a fucking money-grubbing whackjob hopefully feeding him.
Hugs to all that read my bs...fuck the rest of ya. ;)
