While this blog certainly speaks to an audience wider than Florida, Florida is undoubtedly a State which has had it’s share of wealth pillaging by the Wall Street Speculation Bubble. Most Floridians in the capital city of Tallahassee, from which I write, were keenly aware of the State Board of Administration long before it’s derivatives debacle, which cost Florida 50 billion in investment wealth.

It is seldom newsworthy to discover fiscal recklessness these days, as it infects all levels from the prestigious Harvard endowment to municipal bond investments in the sewers of Alabama. Therefore, the SBA’s 50 billion dollar loss to Wall Street’s derivative scam is simply par for the course.

But the speculation trap set for policy-makers takes hold in the form of wishful vindication. If only the securities could somehow gain back their value … if only the second line of credit on these first mortgages (which themselves are mostly upside down) could somehow attract a new buyer, then our reckless decisions would be exonerated, and we’d be seen as responsible stewards of the public trust again.

In other words, we believed in the bubble which sprung “The Trap”. Now our only hope for political salvation is to somehow breathe value back into the bubble.

Trying to breath life back into the speculation bubble is the universal failing that proves the trap is sprung. You see it in the DOW every day. You see it in the misguided attempt to breathe life back into the Zombie banks, and their toxic assets. You see this at every level, but behind the corruption, collusion and cronyism that predicated the asset bubble is the false promise of vindication, a powerful desire which betrays common sense.

In Florida, Farid Khavari is a fresh face, which doesn’t need to “save face”, by clinging to bad risk decisions in the name of absolution. Farid condemns the politics as usual in Florida, while I point out also the universal tendency toward vindication found in human nature, and in politics across the land. As long as our so called leadership in Washington is willing to pump America’s speculation bubble economy with the proceeds of your taxable income, it gives license to State and Municiple policy makers to follow suit. 

This is why a thorough house cleaning at all levels is always the single correct remedy in times of moral crisis. Voters thought Obama represented a cleansing of the Bush syndrome, not Bush light. But Khavari is right - the corrupt bankers, the corrupt regulators,  the corrupt underwriters, the corrupt traders and raters, all corrupt enablers at all levels must go – to purge the system of that powerful desire to perpetuate the fantasy of the bubble economy. It is too powerful a desire for human nature to manage. You must purge the system of the enablers in order to purge the system of their crimes. Out with the old, bring in the new. In Florida, bring in Khavari.

Some policy makers simply refuse to gamble with the public trust, despite temptation. These are the people we need. If the only reason we have for NOT purging the gamesters in office is the fear that we’re ALL somehow to blame, then we ALL get the world we deserve to live in. But that is a deception.

There are plenty of working class people in America who are prudent and responsible, and these people are tired of subsidizing the lifestyle of the speculator class above them, as well as the non-working class below them. 

It may be hard for the one-day a week politicians, and their $135,000-a-night “speakers” on capitol Hill to comprehend, but we are trying to actually EARN a living in this collapsing economy, and we represent the last hope for the financial reconciliation of a government which is NOT prudent and NOT responsible, as is clearly shown by its continuing willingness to DESTROY OUR JOBS, DESTROY OUR ECONOMY and KILL THE GOLDEN GOOSE from which it doles out its largess to both the gaming class and the ne’er-do-wells.

So who represents us? Khavari. Every State needs a Khavari and every State’s middle class needs to find and support him, so we can take this country back from the Fascist Globalists and the Sovereignty-crushing monetarist claims of inflated value for fraudulent assets that they created, and the egregious default swindle of their predictable collapse.

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