The Widdershins

Archive for July 27th, 2012

Good morning Widdershin friends — here’s hoping a magical Unicorn fertilizes your world with a little wonderment.

There’s so much to talk about and so little time.  Let’s get at it.

Aurora, Colorado

An unspeakable tragedy that has occasioned untold suffering on scores of families makes me alternatively sad and angry.  Here’s an anger making moment from last Sunday morning.

Senator Ron Johnson, R-WI and Lackey-NRA, was on Fox News Sunday.  The topic of this particular anger making moment was the shooter arming himself with an AR-15, the civilian equivalent of a military M16, that has the ability to fire 50-60 rounds a minute.  The shooter had acquired a mega “drum clip” containing 100 rounds that thankfully jammed.  When asked about limiting these mass murdering, extended killing mega-clips, Sen. Johnson replied, “To limit the size of clips is really to limit our freedom.”

I want to make sure I get this right — to insure the constitutional right of Sen. Johnson and his ilk the extra minute of orgasmic bliss before reloading their civilian M-16’s, we are to say to a dozen families and countless scores of other families to come, “Sorry about your luck, but it’s my constitutional right to have not one, but two solid minutes before I have to reload my automatic weapon.”

And what is gut-wrenchingly grotesque is that there are engineers and public relations people working right now to make and sell a new and improved 100-round clip that won’t jam the next time.  Oh, and by the way, did you know Wayne LaPierre, spokesthug and full-time arse for the NRA makes $970,300 a year — just thought you should know since he‘s the one who comes up with these “freedom“ arguments.

Rep. Carolyn McCarthy, D- NY, a widow courtesy of a mass killing with an enlarged ammo clip has been one of the few lonely courageous voices for sensible gun control and has long been an advocate of limiting these mega clips — she is a profile in courage.

Banking Scandals Update

For those keeping tabs, the JPMorgan losses from its gambling in the great Craps game of derivatives has now grown from $2.0 Billion to just under $6.0 Billion.  Not to worry, we, the taxpayers, are helping out with a $1.7 Billion tax write-off in this quarter alone, but when JPMorgan is making $20.0 Billion a year in profits, who’s counting?

Turning to the LIBOR scandal — before you tune out, if you have a credit card or any variable rate loan, it affects you — it has gotten much more press in Europe than here in the U.S. since Barclays has already pled guilty and paid a half Billion dollars in fines.  Here’s all you need to know — LIBOR is the rate banks charge one another for lending one another money and it is the benchmark for virtually every variable rate consumer loan in the industrialized world.  The LIBOR rate was kept artificially low through an ongoing banking conspiracy so as to not set off any alarms as to the true economic condition of faltering banks.  The LIBOR investigation is just getting underway here in the U.S. — it has all the potential for being really big or being quietly swept under the Wall Street rug.

Finally, the biggest scandal no one has heard about has culminated in the conviction of three big time bid riggers in N.Y. Federal District Court.  I know you haven’t heard a thing about it, but it involves some names you might have heard like GE Capital, J.P. Morgan Chase, Bank of America, UBS, Lehman Brothers, Bear Stearns, Wachovia, and too many more to name.  The scheme was simple, but the apparatus was complicated — it was an ongoing conspiracy to divvy up the winning banks on the proceeds from bond sale auctions.

But wait, there’s more scandal!

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