IMF, C-SPAN DREDGES UP LARRY SUMMERS AND KEN ROGOFF

Larry Summers. Ben Bernanke, Stan Fischer and Ken Rogoff Instill Anxiety and Dread Before A Crowd at an International Monetary Fund Panel on Policy Responses to Financial Crises.

By Igor Rocqueford Mananoff for CPW News Service

     "It was like when the hospital management company that I worked for in 2010 brought in a consultant.  She had been the quality control expert and compliance officer at Columbia-HCA hospitals.   She was coming to tell us how to run our business after Columbia-HCA had received the highest Medicare fraud fine in U.S. history of $1.7 billion dollars.   A Bush pioneer and partner in Columbia-HCA with Tennessee Senator Bill Frist, Florida Governor Rick Scott, had been the CEO and President.   He took from the hospital chain an obscene $400 million severance package and used it to become, as had Jeb Bush using his family fortune, the Florida governor," said Herbert Killibrew of Cedar Rapids, Michigan.  Killibrew sold his vacation home in Florida after the state elected Scott and vouched never to return. 

     Ken Rogoff, who is featured in Michael Moore’s Capitalism: A Love Story explaining “credit default swaps” joined the C-SPAN program with his friend, Larry Summers, who compared the U.S. economy to that of a secularly stagnated Japanese economy.   "A stagnated Japanese economy?  How about a kidnapped, tortured, raped and sodomized pre-pubescent adolescent?  That would make a more accurate account of what has happened here," said one Occupy Wall Streeter.

     Rogoff and Summers owe much of their knowledge about the 2008 financial disaster to the repeal of the Glass-Stegall Act in 1999 and to the rape and pillage of America’s public coffers with the arrival of George Walker Bush and his protracted wars and bail out beginning in 2000 with a questionable election and an amnesiac electorate.  Ben Bernanke admitted taking his classes at MIT from Paul Samuelson, Larry Summers’ uncle and mentor to the creator of the credit default econometrics that tanked the U.S. economy, but for which Robert Merton, received the Nobel Prize in Economics in 1998.  "These are essentially the 'Masters of Mertonian Metrics'....all voodoo-ologists pawning themselves off as knowledgeable experts in economics but who used their incomprehensible mathematics to justify the rape and pillage of the Post-Reagan/Bush/Clinton/Bush period of massive deregulation that led to Enron and World-Com period of decadence," said Libby Rey Schunn, the author of Masters of Mertonian Metrics.  "Hell," said Ms. Schunn just as the Philippines was tanked by the worst storm in their history and their President begged the world to consider that man-made influences are creating Global Warming nightmares, Bernanke sits there claiming the there is no connection between financial disasters and physical ones.  How's that for a cranial-anal impaction?" asked Schuun.

     Shuun is also skeptical that the Obama-care roll out was messed up on its own.  "You have to understand that when Barack Obama was criticized for being a friend of William Ayers and having married Michelle who worked for the historic Republican, Springfield, Illinois law firm of Mrs. Mary Todd Lincoln, Sidley Austin Law Firm, which merged in 2000 with Brown and Wood Law Firm of New York, we were provided another window on the Monster's Ball.  William Ayers, the terrorist Weather Underground bomber, was the son of one of the most power Mid-Western industrialist during the Vietnam War Era.  Ayer's father was put in charge of William's rehabilitation.  Brown and Wood links to the National City Bank, for which Smedley Darlington Butler said 'I was a goon on three continents'.  National City Bank's tentacles would have gone into every company board on which William Ayer's father sat.  To return the political dialectic pendulum swing to the right, all Obama has to do is to mess with people's health care with the appearance of doing good for the masses, but also to make sure that it fails to launch," said Shuun who believes that legislation to prohibit insurance companies from cherry picking clients along with a well-planned expansion of Medicare would have avoided the current mess.

     Michael Moore attempted to have Rogoff explain just how credit defaults work in Capitalism: A Love Story.  Rogoff could not.    As evidenced by the hocus pocus that Paul Samuelson of MIT called the newly created “Frankenstein monsters of Wall Street,” we see that C-SPAN has no monitoring filter on the self-promotion of the makers of the last financial Monster’s Ball.  Samuelson was embarrassed by his student, Robert Merton's, dubious Nobel Prize.   It was what dynamite was to demolition... these credit default swaps blowing apart the American economy.   Samuelson was not, however, embarrassed enough to fight for Glass-Steagal in 1999 which was clearly early enough to prevent the mismanagement leading to the current 16 or 17 trillion dollar deficit.   Now they are planning to usher a return of the old cast for another run at the taxpayers’ sovereign dollars just as the Savings and Loan Scandal of the 1980’s had provided, followed by the  dot com and housing bubbles fiascoes made mostly possible by the repeal of Glass-Steagal….the 2008 Christmas gift of Hank Paulson's bail-out bill. The Frankensteins feed on!" said Schuun.

      Standing in the wings in 2016 will be Jeb Bush, according to Schuun, "who will insert himself somewhere between Republicans Chris Christie and Rick Perry in the run for the 2016 Presidency so that he can usher in a new period of deregulation and prosperity like his father and brother.  With the top .02% of the 'Too Big To Fail Banks' holding 70% of the banking wealth which Paulson had argued would be used to help underwater mortgage holders, the arrival of the Republican candidate will signal the release of those funds for more pillaging and rape of Main Street.  Of course without having resurrected Glass-Steagall after 2008 and without strings attached to the TAARP money, nobody knows what Larry Summers is talking about when he says that the TAARP money has all been paid back within this house of quickly shuffled cards.  Meanwhile, Ben Bernanke, has said ‘adios’ just in the nick of time.  "Opposite Jeb, or whoever, will be Hillary Clinton, the Democrat whose husband's last year in office stripped Glass-Steagall away and opened the floodgates for the rush of criminals who now populate Wall Street and Washington.  Bill Clinton has, as any sighted person can tell, appeared as another of George Herbert Walker Bush's sons.

     Mustafa Farquah, author of Trolling for Milton Friedman's Free Market, said "these guys are not trolling for anything, but a repeat of the past period of deregulated financial debauchery."

     "Look," said Peter Pezonus, an outspoken critic of Larry Summers and Robert Merton's Monster Ball," these are the guys who have engineered the current crisis in confidence in the U.S. economy.  What the hell is C-SPAN doing handing them a microphone without offering a panel that could react to theses Bozos?   Let David Stockman, Reagan's contrarian Budget Director moderate it and add Occupy Wall Street supporter and outspoken critic of the current insanity, Christopher Hedges.  As this program goes out without any rebuttal, there is no historical point of reference.  This is exactly what criminal minds desire most.  I would have one question for Larry Summers' paltry panel....."In as much as you are all partially responsible for promoting the Monsters' Ball of the Wall Street bailout, why should we believe anything you slobs tell us?"