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On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss gambling on the NYSE, GDP and conflicting reports of what started the financial crisis.

We’re brought to you as always by BigGovernment and Stephen Clouse and Associates. If you’d like to email us, you can do so at coffee[at]newledger.com. We hope you enjoy the show.

Related Links:

The NYSE Gets Funny
Q4 GDP Advance Report: Up 3.2%
Financial Crisis Inquiry Commission Dissenting Statement
What Caused the Financial Crisis?
Phil Angelides: Financial crisis ‘didn’t need to happen’
Financial Crisis Inquiry Commission Dissenting Statement – Wallison, Burns
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The announcement by ACORN that it is creating a panel of inquiry consisting of its corrupt friends is a fairy tale. ACORN did the same thing last year after an internal scandal but when the honest people on ACORN’s internal panel began asking uncomfortable questions, it cast them out.

Since it’s a fairy tale, let me tell the story the fairy tale way:

Once upon a time there was a group called the Association of Community Organizations for Reform Now (ACORN). It was run, and continues to be run today, by very bad people who do very bad things while they pretend to make America a better place.

They get very upset when people point out the bad things they do. They always lie about those things and call those people who speak against them nasty names like “racist” so those people will get scared and run away. Often it works.

They carry out voter registration drives strictly with a view to meeting predetermined quotas. They don’t give a farthing’s cuss if their canvassers register Mickey Mouse or the dead to vote; in fact, they encourage it. As long as the big fat checks keep coming in from billionaire leftist George Soros and Herb and Marion Sandler everything is OK in their eyes.

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Congress’s official investigation into the financial crisis, the so-called Financial Crisis Inquiry Commission, will convene its first meeting today.  Unfortunately, Nancy Pelosi’s handpicked chairman of the commission Phil Angelides, has deep ties to radical left-wing politics, including the Van Jones-connected Apollo Alliance, which he chairs, and ACORN, which is an Apollo member and endorsed and actively supported his gubernatorial campaign.  His selection proves the commission will be a politicized attempt to advance a left-wing agenda through a revisionist history of the financial crisis.  It also assures that ACORN and other community organizers who forced banks to make reckless loans in the name of affordable housing will be let off the hook.

Angelides’s San Francisco-based Apollo Alliance describes itself as a “coalition of labor, business, environmental, and community leaders working to catalyze a clean energy revolution.”  Based on the radical past of some of its key figures, the use of the word revolution is appropriate.  Apollo was conceived of, and presently serves, as a clearing house to align the otherwise disparate interests of environmental groups, labor unions, social justice organizations, and rent-seeking corporations.

Disgraced former White House green jobs czar Van Jones was an Apollo board member, involved with the group from its founding, and was its model for a new type of leader.  Apollo board member John Podesta, who was chairman of Obama’s transition team, already brought Van Jones back to the Center for American Progress, Podesta’s influential think tank where Jones had previously been a senior fellow.  These are Angelides’s friends and ideological peers. (more…)