We'd All Go Down Together

"Gentlemen, we must hang together or surely we shall hang separately." Benjamin Franklin

Dow is plunging like a stone.  NASDAQ's falling too.

Wall St. isn't thrilled the Ship of State's not changing crew.

All the folks who couldn't work together will return...

Industries are worried, so they're crowding at the stern.

Maybe I'm an optimist, but I think this can work

(Even though McConnell's still behaving like a jerk.)

With the many storms we face there has to be a deal,

Just as soon as everyone stops fighting for the wheel.

Yes, we're in for painful cuts and turmoil overseas

But, in times of crisis - times an awful lot like these -

As we face a fiscal cliff, with no room left to stall,

I believe true patriots will heed their nation's call.

Although the stern went down last, it still went down."Untergang der Titanic" by Willy Stöwer, 1912 (artist's conception)

JPMorgan Chase and Dodd-Frank - Remember the Titanic

Jamie Dimon - looking surprisingly cheerful after reporting $2B in company losses.

 

Jamie Dimon (he's the head of JPMorgan Chase)

Has revealed a problem, I think, makes the Dodd-Frank case.

Hedging on derivatives; $2 Billion, plus, in losses.

His solution to the crisis? Firing 3 bosses.

Plan was barely understood with little oversight.

Took a while for him to see that something wasn't right.

Wonder if the folks at Chase are wishing that they had

Got behind the Volcker Rule before things got so bad.

Seems to me this news is proof that Wall Street hasn't changed.

Drive into an iceberg? Get the deck-chairs rearranged!

Have to shift their current course; stop fighting tooth and nail.

Europe's looming up ahead...  We're not too big to fail.

Bankers and Republicans and major CEOs

All agreed to stall on legislation they oppose.

Think it's time we got together; implement Dodd-Frank.

Don't forget; the last time something couldn't sink...?  It sank.

"Untergang der Titanic" by Willy Stöwer, 1912 (artist's conception)