Restocking The Swamp

US Capitol Building - Restocking The Swamp

America is going through a regime change, out with the old, and in with the new. Oh really! With the entrenched political establishment, the faces may change, but the swamp remains. 

Pundit Bill Bonner recently wrote, “Bush, Obama, Trump…and presently, the hack from Delaware…all share the same goal – to keep the elites in power, at any cost.”

Chuck Butler wrote:

“Seems that the new president is going to name Gary Gensler as chair of the U.S. Securities and Exchange Commission…. Here’s what the GATA folks said about that, “Former CFTC exec who couldn’t spot gold and silver market rigging to head SEC….” I find this news preposterous! Totally preposterous!

The Reuters article that GATA highlighted, said that Gensler was known as a hard-nosed regulator that would stand up to the Big Banks… Really? I mean Really? All the years he was at the CFTC (the commodities regulator) and never found one thread of evidence that price manipulation was going on, is going to be the head of the SEC? I’m getting some exercise this morning, as I shake my head in disbelief!”

BS Alert SymbolHe added, “I said that I was calling B.S. on his ability to be a hard-nosed regulator… In my opinion, he couldn’t see the trees in the forest if he stood right smack in front of the forest!”

When Gensler headed up the Commodity Futures Trading Commission (CFTC) he behaved like a TV character, Sgt. Schultz, of Hogan’s Heros; “I see nothing, I hear nothing, I know nothing.”

After the Reuters article praised Clayton, they added:

“A former Wall Street lawyer, the incumbent Clayton was criticized by Democrats for his extensive ties to many companies he was tasked with overseeing and for leading an ambitious agenda to reverse a 20-year decline in U.S. public company listings with an overhaul of dozens of rules.

Among the most controversial changes were measures critics said reduced corporate disclosures to investors, weakened auditor independence, made it harder for shareholders to push for corporate votes on issues such as climate change and racial justice, and allowed more retail investors to dabble in private company investments.”

I’m with Chuck, BS. Please make a liar out of me, I would love to be wrong.

 

Moving on to treasury secretary

Former Fed Chairperson got confirmed.

The Department of the Treasury proudly proclaims:

“The Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States.”

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