Douchebag Of The Day: Tim ‘Don’t Do Stupid Things’ Pawlentyon September 26, 2012 at 7:07 pm
Awarded for the following statement about banksters from bankinvestmentconsultant.com:
“I said, ‘Stop doing stupid things,’” Pawlenty said while sitting in the Roundtable’s Washington offices.
“These are large organizations with tens of thousands of employees in many cases. There is always going to be some individual doing something that’s off track. That’s human nature. But the obligation and the opportunity of the organizations is to put controls in place and a culture in place that minimizes the likelihood of that, but does it voluntarily.”
Pawlenty is pretending that the problem with Wall St. is just “a few bad eggs.” Absolute bullshit. This was a systemic pattern of greed and fraud that was approved at the highest levels of power in the banking industry. To suggest otherwise is to say that the entire financial system is so fragile that a few dozen mid level employees brought the world’s economy to its knees. It also says that the CEOs were so incompetent that they were hoodwinked by those same “few bad apples” but still “earned” those massive bonuses they got AFTER their companies went bankrupt. I would pay money to see Pawlenty explain that one away.
The truth is that Pawlenty knows exactly what happened and he knows, for a fact, that the problem is a culture of corruption and lies that is encouraged by the high muckity mucks on Wall St. They know that they’ve got world over a barrel. They own the entirety of the GOP and far too much of the Democratic Party, both of whom will make sure Wall St. doesn’t have to pay for its “mistakes” that cost us billions but costs them nothing.
Socialize the risk, privatize the gain. It’s the American way.