How to: Steps to Financial Success in the New Socialist Amerika
posted by robert - November 24th, 2008 at 2:25 PM - CommentaryWelcome, Comrade! Steps are simple, as you will see. In Soviet Russia, we had similar process — only without all of media coverage. But I am of the thought that makes it more exciting, yes?
- Spend hundreds of millions of dollars to overturn 80+ year old banking regulatory legislation (Glass-Steagall Act)
- Merge several massive companies into one ginormous financial behemoth under the newly-liberalized regulatory environment that you just purchased (yay!)
- Use the combined lending/borrowing capacity of this new ginormous conglomerate to leverage your ass — and everyone else’s — to the moon and back, several times over
- Cash out (but under less-alarming euphemism, “moving on”) while the hogs are fat, buy island/jet/concubines/personal army
- When the deleveraging starts, have your poor-sap replacements demand that the government bail you out since you’re “too big to fail” (nevermind the fact that you paid off the government to let you get that big in the first damn place) — gotta keep those stocks riding high and paying dividends
- Profit!!!!11
See, comrade? Is easy, yes? If you are a CEO or have access to a CEO, you too can be the next Citigroup [insert non-specific name for frighteningly-large-yet-struggling financial institution here]! Welcome to future of “capitalism”, yes? Ha ha! “Cha-ching”! Ha ha!
(actual timeline of real-world events here)
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