Scandal of the century?

This headline tops a story on Pajamas Media, one of our favorite environmental scan blogs.

Side note: “Environmental scan” is the term given to a survey of economic and social trends compiled and presented by then-vice-president Sarah Canepa Bang of the Oregon Credit Union League, during annual conventions.

The league on Jan. 1, 2011 merged with the Washington CUL to become the Northwest Credit Union Association. The merger was partly the result of the financial crisis that also hit credit unions and hastened the existing trend toward consolidation.

Member credit unions in Oregon peaked at 265 credit unions in 1970, served 85 credit unions with 1.5 million members at the end of 2010. The NWCUA headquarters is located in the old OCUL offices.

But back to that scandal. What was the first item that came to your mind? Two popped into our mind immediately:

**A. The Fast and Furious caper (ATF program that allowed guns to “walk” to Mexico)
**B. Solyndra ($500+ million of U.S. taxpayer money to bankrupt solar panel factory).

No, wait!

**C. Bailouts, TARP, Stimulus – none of which have helped, or ever will help, the economy
**D. Fannie, Freddie, Countrywide, Dodd, Franks, deadbeat borrowers, flippers – and numerous others who contributed to the crash of the housing market

No, no, wait!

**E. Iraq & Afghanistan wars – weren’t they supposed to be over, with no nation-building?
**F. Ponzi schemes – Madoff and a number of other smaller ones and one really big one
**G. ObamaCare – forced through over a reluctant Congress and public objections

IFO will leave it to you to choose (note: PJ Media’s answer at bottom of post):

The scandal in the PJ Media story is Fast and Furious, covered in depth by journalist Bob Owens, who writes:

“…elements of the U.S. Departments of Justice, State, Homeland Security, and Treasury are responsible for supplying an arsenal to narco-terrorists waging a civil war against an American ally. Our federal government may bear responsibility for at least 200 murders committed with “walked” firearms, in what Mexican Attorney General Marisela Morales describes as a “betrayal” of her country by the Obama administration.”

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About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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