#886 Super Banker

Conspiracy theorists out there, try not to pay attention to who’s pulling the strings of power in the banking crises these days.
This whole credit mess is an amazing thing. It started with bad mortgages, sure, but then rapidly degenerated to a credit “freeze”, as the larger financial institutions refused to lend to one another.
The people who were telling us to trust the system, the bankers, suddenly didn’t trust each other. Institutions that were sending credit card offers to toddlers and dogs unexpectedly decided their fellow bankers were suspect.
And it was bad. Because every second of every day bankers and brokers lend each other short term credit. If Lehman Brothers wants to buy some shares of McDonalds they go to CitiBank and say, I’ll gladly pay you Tuesday for a Hamburglar today.
If they don’t lend, everything grinds to a halt. There’s a saying that sums it all up. Always use short-term credit responsibly. And that says it all because apparently our entire financial system was based on bankers giving each other payday loans.
I’ll borrow from you and pay you back when I get a loan from someone else. Hmm.
But here’s the conspiracy part. Goldman Sachs, one of the big brokerages on Wall Street in the thick of all, once had an employee who is now the Secretary of the Treasury, Henry Paulson. The current governor of New Jersey, where lots of Wall Streeters make their homes, is a former employee of Goldman Sachs. And the current young Turk who Henry Paulson tapped as a superbanker to dole out all the federal bailout bucks comes from, you guessed it, Goldman Sachs.
To those who believe in the international Jewish bankers’ conspiracy, don’t worry. The bailout supervisor has a totally un-Jewish name—Neel Kashkari. Ironically, like cash and carry but with K’s.
As some crazy folks in the blogosphere put it, “K’s like they use in names in Muslim countries.”
Indian Muslims from Jewish financial institutions in charge of federal redistribution of wealth?
Conspiracy theorists, it’s time to crack open your survivalist bomb shelter. The end of the world is nigh.
And just in time. Maybe you won’t have to pay your last bankcard bill...
America, ya gotta love it.