Political Parody As a Weapon Part LXXIX; Reform you can bank on, as what is life without Hope?
Last week, in Part LXXIII, we rode the elevator of song parody as antifa commander antics were critiqued and examined. This week, as our Predator drones travel in international waters above the sea of leftist folly and chaos, the target-rich environment was surveyed and a topic was selected in the form of the regional bank collapses of Silicon Valley Bank on the west coast and Signature Bank on the east coast.
After the financial crisis in 2008 that brought us Barack Obama, the democrat controlled House, Senate and White House set out to reform the banking system. Among the financial institutional scandals that precipitated the collapse was Countrywide, a financial services company, that had given below-market rate mortgages to influential politicians, including Connecticut’s Senator Chris Dodd, whose most significant accomplishment in Washington had been to join Ted Kennedy in sexually assaulting a waitress in a D.C. restaurant.
Ironically, Countrywide was acquired by Bank of America, which had a couple of years before purchased MBNA Bank, which had years before purchased Joe Biden. Naturally, a man who had so many conflicts in the financial services world would be called on to author the banking reform bill to be put forth in 2010.
Joining Dodd in this legislative endeavor was Massachusetts Congressman Barney Frank. While Frank would never likely be a participant with Dodd in his “waitress sandwich” sexual harassment hijinks, he had his only sex scandal, in which his gay lover was running a homosexual escort service from the home he shared with the legislator. It should come as no surprise that a banking reform bill so auspiciously sponsored as Dodd-Frank might be fraught with opportunity for conflict of interest and corruption. Ironically, Congressman Frank (who rarely missed an opportunity to lisp into a microphone) had some insight into the flaws of Joe Biden.
As such, correctly guessing that Barney Frank was on the board of Signature Bank, a financial institution that made commercials that looked like Broadway show tunes rather than apparently sound fiduciary decisions, does not exactly qualify the one who so predicted it for a Psychic Hotline. While Biden tried to blame the crisis on Trump for some of the de-regulation that took place during administration, even Frank claimed that this was not so.
At this juncture, though, it is difficult for an outside observer to know exactly what went wrong at the institutions beyond bad management, which is of course being responded to with bad policy. Clearly, though, the “reform” of 2010 brought on by Dodd-Frank was inadequate to the task, and may have just changed the players and their demographic for who got to drive the financial services armored car off the cliff in this go-round.
Largely for prosaic purposes then, rather than an close up analysis, I will tag Barney Frank for the current crisis brought on by amateurs making poor professional finance decisions through the use of the signature song of a man who made many sound decisions of the fiscal variety and left behind significant wealth. There were few greater Americans than Bob Hope (even if he was born across the pond). With his appearances to support America’s troops through the USO, he brought much needed morale boosts to our warfighters in some of their darkest days. His signature song came from one of his movies from 1938 entitled “The Big Broadcast”, in which he and Shirley Ross sang “Thanks for the Memory” (though the plural is often mistakenly used in the title). The opening notes were played by the orchestra just about every time Bob Hope made an appearance in the second half of the 20th century, and an abbreviated version of the whole song serves as the soundtrack for those who brought America its latest banking calamity:
Frank brought the calamity
He partnered with Chris Dodd, to attack the banking god
The seeds of our destruction were sown then in the sod
How screwed up it is
Frank brought the calamity
Of zero interest traps and financial collapse
Of stressing and then messing and it stretches ‘til it snaps
How screwed up it is
Many times we had recession
And on occasion a depression
but now and how intercession
They had their fun, and now harm’s done
Frank brought the calamity
Amateurs serve on the board, the bonuses they scored
Yet somehow in the Fed they saw nothing untoward
How screwed up it is
Frank brought the calamity
Of China buying bonds, offshore banking with palm fronds
Somehow the banks made money just by waving magic wands
How screwed up it is
They never would call it a bailout
There just was a speech from Joe Biden
An asset the bankers were hidin’
No tax, just fees, more if you please
Strictly off the books, no jail time for the crooks
And how are all those reform promises that never did come true?
First they pick your pocket and then find someone to screw
Screw too, screw too.
#Parody #Ridicule #Alinsky #Biden
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Snap! FJB, his bailout for SVB, and his orchestra,
Yesterday was Wilmington’s St. Patrick’s Day Society breakfast. All of Delaware’s major politicians except Biden were in attendance, but Biden sent a letter congratulating the organization on raising more than $275,000 for the St. Patrick’s community center. A later speaker referenced the oversized presentation check prop as a “fake check”, and the emcee quipped “Better a fake check than a fake bank”.
I figured it would not have mattered in any event, as Joe would have bailed out the fake bank just as well, as long as the board had democrat donors.