Tuesday, June 07, 2011

How the Koch heads hedge their bets

As their PR operation at Americans for Prosperity gears up for its newest disinfo tour designed to blame President Obama for rising gas prices, via Karoli, a stellar Lee Fang investigative piece on the Koch brothers revealing how the odious Kochs have been manipulating oil futures since the late 80s.

Karoli sums up the shorter for us:
The timeline is particularly interesting. In a nutshell, the very first oil derivatives were born in 1986, during the Reagan presidency. With the help of Phil Gramm in the Senate, and his wife Wendy Gramm, oil speculation was deregulated and the Kochs were laughing all the way to the bank. Wendy deregulated oil derivatives on the very last day of the George HW Bush administration, just before Bill Clinton took the oath of office.
Read the longer at the Think Progress link, but take your blood pressure meds first. In a sane world these sociopaths would be in jail, or at least in a locked psyche ward. Sadly, in the world we live in, not only do they get away with these criminal machinations, they're richly rewarded for them. It's enough to make me wish for the Apocalypse.

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Blogger Ruth said...

True, but the economy they're destroying is their own. Without disposable income, there is no consumer. The Kochs depend on buyers to sell their oil, not just investors. They may be totally out of their minds, but some one on the staff will have to see the coming apocalypse.

12:44:00 PM  
Blogger Libby Spencer said...

True Ruth, but I'm not sure anyone on their staff is brave enough to tell them. Or that they would believe it, if someone did.

And not sure they care if they go down, as long they succeed in destroying the world as we know it.

I'm often reminded of Saruman in The Shire...

8:26:00 PM  

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