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The latest Uther to the Arthur

November 15, 2011

There’s no history that doesn’t appear to repeat itself. Uther Pendragon was …dicey. His offspring according to legend was Arthur, and Arthur established Camelot….

In the 1960’s  “Camelot”, there was JFK and Jaquie, Robert and Teddy….who was their Uther?

Daddy Kennedy – Joe Kennedy. Nice piece of work – any guesses on where the fortune that helped his sons buy into office was made?

In 1919, he joined the prominent stock brokerage firm of Hayden, Stone & Co. where he became an expert in dealing in the unregulated stock market of the day, engaging in tactics that would later be labeled insider trading and market manipulation. …

Kennedy …helped establish the Libby-Owens-Ford stock pool, an arrangement in which Kennedy and colleagues created an artificial scarcity of Libby-Owens-Ford stock to drive up the value of their own holdings in the stock. Using inside information, and the public’s lack of knowledge, a pool operator would bribe journalists to present that information in the most advantageous manner…..

Kennedy got out of the market in 1928, the year before the Crash, locking in multi-million dollar profits. Indeed when the 1929 crash did come, he made money due to his short positions.

Once again, we have the media fawning over themselves on “this generation’s Camelot” even staging photo shoots with our current President to try to harken back to JFK.

Who would be Uther to this Arthur? Seems like a toss up really….

Schweizer calls the scheme that Steve Eisman, Warren Buffett, and Soros use the “Baptist and bootlegger strategy.”  

“What a lot of these guys do like Buffett and Soros or Eisman, ….is present themselves as reformers. They present these grand ideas and they’re sort of statesman who are just interested in improving the situation in our country, but the reality is, as I point out in the book, at the same time, they’re often aggressively trading stocks,” Schweizer said.

Warren Buffett, for example during the financial crisis, helped establish the public-private partnership and at the same time, that was going to bail out banks and he helped design it. As he was doing it, he was buying billions of shares in bank stocks…

Mr. Soros donated more than $60,000 to Obama’s 2004 Senate campaign and helped build the Obama 2008 war chest substantially…Schweizer found that after “tens of billions” of tax payer dollars were invested in the Democrat backed 2009 stimulus package, in the first quarter of 2009, Soros made a financial windfall by investing in stimulus winners

No wonder they love the class warrior rhetoric. Like a true moneyman, you can call them whatever you want as long as they find a way to profit from it.

3 Comments leave one →
  1. November 16, 2011 3:50 pm

    Slightly off topic but I can’t help myself. It’s just weird; I don’t know history the way you do, and so I’ve never heard of Uther Pendragon. Until today when the 4th grade curriculum covers Duke Vortigern becoming king of Britain because Constans was dumb and younger brothers Aurelius and Uther Pendragon were too young.

    Then I read your post and I’m like, ooh, ooh! that name again!


    • November 16, 2011 5:17 pm

      My mom was a highschool librarian, and I’m an only child. Guess where I spent most of my summers in my formitive years?
      Book nerd, all the way. “The Once and Future King” has a bit about Uther – he wasn’t a nice guy even in the best of circumstances. Then again, Vortigern wasn’t much better than the average Viking…
      I did think later whether Merlin would be better as “the thug hands behind the throne” but …whatever the case, you got the idea 🙂

  2. November 16, 2011 8:18 am

    To some extent, smart companies affect the environment in a way that enables them to profit from it. The bounds start to really blur when a visible effect is paired with an less-visible investment to profit from it. But at some point, a company can do what it wants within legal bounds to make money.

    If all of this is in the pursuit of more money on top of more money, I mostly feel sad that it’s the only motivation that those individuals have.

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