Wednesday, April 28, 2010

Stock Tip of the Day, Sell SCGS

Senator Susan Collins mustered up a bit of indignation and acted a bit chagrined at the Goldman Sachs hearing yesterday saying at one point, "I cannot help but get the feeling that the strategy of the witnesses is to try to burn through the time of each questioner." Without doubt, that was the official hearing strategy of Goldman Sachs. Delaying and obstructing to obscure reality seemed to work for the company.

One would think Senator Collins, instead of feinting exasperation would be more aggressive at uncovering Goldman Sachs wrongdoing to expose the firm’s corrupt practices, ethically challenged sidestepping, influence peddling, and shake down of the US economy over just getting a sound bite or two to express indignation to the economically disadvantaged back here in Maine. But perhaps too much grilling is not a good idea when the 10th largest source of Senator Collins’ donations in her last campaign came from…drum roll please…Goldman Sachs’ sources and connections to the tune of just shy of $24,000.

But that’s the past and we have the tendency to let bygones be bygones. The redeeming opportunity is always in the future when one takes to heart the vivid evidence of Goldman Sachs wrongdoing and when one has the power as a United States Senator to correct matters, set the record strait, and prevent future recurrences of the corrupt behavior by legislatively addressing the matter on behalf of her Maine constituents. So what did Senator Collins do after that frustrating hearing? She went to the Senate floor and voted to block debate on a bill that would increase regulation of the financial system.

Note: Senator Snowe and Senator Collins voted a third time to block debate regulation of the financial system moments ago.

Late Day Update: Despite Republicans now caving to allow debate, Senator Collins only proved that she is not an independent moderate and walks lock-step with the leadership the vast majority of the time. On Today Show, Senator Collins certainly came off as out of step with reality and out of balance with her own prior actions and statements:

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1 comment:

Bruce Bourgoine said...

Senator Collins wants to take credit for failure! First she is trying for a back room deal on financial reform; then she holds tough on three votes to choke off debate; finally after getting some mighty thin cover and heavy pressure from home, she caves.

Allowing debate was the right thing to do all along and I am glad to see Maine voter pressure in particular paid off but letting Senator Collins bask in moderate warmth as a bipartisan hero isn't a reflection of the truth. The Republican caucus caved and she positioned herself deliberately with this exit strategy days ago.