Friday, September 11, 2009

Cecil's Excellent Adventure 4

10th & E St., Washington, D.C. -- 9-11-09

Believe it! I found a parking place! For a dollar an hour, no less! I burned about $3.00 worth of gas looking for it.

Earlier I had the opportunity to listen in on the hearings of the Senate Banking Committee. Chuckie Schumer was in charge in the perpetual absence of Chris Dodd. The people on the hot seat were the officials of the SEC and the subject of intense questioning over their lack of oversight which made the Madoff Ponzi scheme possible. The gist of it was questioning why with their experience and knowledge of banking they did not detect something wrong over a period of nearly eighteen years. The most telling remark came when one of the officials off-handedly remarked that they had had no complaints from aggrieved parties to follow up on. In a murder investigation, that which prompts the authorities to act, is of course: a dead body. Barring any evidence of harm, they are helpless to do anything. It seemed from the testimony that was the case with Madoff.

What the senators couldn't comprehend was the complicity of the investors themselves in the commission of the highest price crime in history. Madoff was scrupulous about paying excessive dividends to investors so why would they complain. He had earned a reputation for gaming the market and they had little interest in whether it was legal or not. Bernie will never see the light of day other than through bars and his investors have learned a vital life lesson--if it's too good to be true; it isn't. I guess one might call this a teaching moment.

The evidence of protesters gathering in the city is mounting rapidly. Some are brazen with festooned cars and wearing apparel which clearly identifies them. That is, they look like me. Others in their company are obvious to a veteran of Tea Parties. They seem to be enjoying their trip but manage to retain an air of seriousness.

I continue to talk to locals who have no notion of how serious those of us in the boondocks take the management of our country. I guess if you are completely self-centered you also have difficulty worrying about tomorrow. Unfortunately, tomorrow is yesterday's today and this outfit is careening madly down the road to socialistic control and the destruction of our existing government. Forgive me but the old saw applies: life is like a s**t sandwich; the more bread you have, the less s**t you have to eat. With federal debt mounting each and every day, we are facing a rotten diet.

More as things occur to me,

In His abiding love,

Cecil Moon

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