Obama Continues the Economic Insanity

Here's more from Karl Denninger on how the crooks continue to run the store, even in the Obama administration:

People like Buffett, who should have (and could have) avoided a huge drawdown in Berkshire's value - but didn't.  People like Geithner, who along with Bernanke know how to perform compound interest calculations, but simply didn't care during the 03-07 time frame. 

Along with Paulson they supported the removal of leverage limits, repeal of Glass-Steagall and other regulatory "reforms" that effectively let the banking system place huge bets with non-existent capital - exactly identical to walking into a Casino in Vegas and writing worthless markers.

The only difference is that when you do that sort of thing in Vegas you either go to jail for fraud or Guido breaks your kneecaps. 

In Washington DC you get made Treasury Secretary and are able to cash out $500 million smackers for yourself, tax free, then bill the Taxpayer for your obvious and blatant line of BS.

The people of this nation voted for change Mr. Obama, not "more of the same." 

Yet "more of the same" is exactly what you're proposing when it comes to economic policy, even though if you are really as intelligent as you (and others) have claimed you know full well it won't work.

Change, indeed.