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Old 03-23-2010, 07:06 PM
 
3,948 posts, read 2,251,298 times
Reputation: 1145
Default Too Big To Fail: Whose Waterloo Will That Be?

A while back it was no surprise who did their best to coddle the poor, little frightened banksters.

Quote:
Originally Posted by kovert View Post
After bringing the entire globe to the brink of economic collapse and then enabling the biggest tax payer heist in history, this is what a leader in the party of no clue has to say:

“Don’t let those little punk staffers take advantage of you and stand up for yourselves,” Boehner said.“

How does this guy keep getting elected?
Thing is, the company Big O keeps is doesn't inspire confidence either. (Go Grayson ).

"The New York Fed, under the direction of now-Treasury Secretary Tim Geithner, knowingly allowed itself to be used as a "warehouse" for junk loans, the report says, even though Fed guidelines say it can only accept investment grade bonds."

At least he was smart enough to bring in Volcker.

But will the former Fed head prevail or will his successor will continue with business as usual?

The fate of the world hangs in the balance.
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Old 03-23-2010, 07:41 PM
 
3,948 posts, read 2,251,298 times
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A good article (http://www.newdeal20.org/2010/03/22/bye-bye-to-bernankes-insidious-banks-end-too-big-to-fail-in-2-easy-steps-9120/ - broken link) and quotes Keynes, no less.

"With a level playing field, even “average skill and average good fortune will be enough”, as J.M. Keynes put it"

Last edited by kovert; 03-23-2010 at 08:10 PM..
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Old 03-23-2010, 08:14 PM
 
3,948 posts, read 2,251,298 times
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Good video (http://www.grittv.org/2010/03/16/remaking-the-economy-or-geithners-image/ - broken link) detailing the problems but most importantly offering SOLUTIONS.
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Old 03-23-2010, 10:15 PM
 
Location: fredericktown,ohio
4,789 posts, read 1,578,148 times
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The leaders of both parties know who their daddies are,Barnanke and the banking cartel.The Boner is out in the open on who he represents and it is surely not the people.Any type of reform from either party won't be worth a bucket of spit.The funny thing is a good portion of {R} posters think the country will be so much better off with them in charge and the Boner as speaker.
It also has been common knowledge that the bankers were dropping their crap off at the FR,JP Morgan and Goldman bought junk for pennies on the dollar.They purchased about 3.9 billion and Barnanke bought them at full price.When you have a sucker like us who would not take advantage.Yep we are screwed the bankers control both parties and the lemmings keep putting them right back in there.
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Old 03-24-2010, 10:38 AM
 
3,948 posts, read 2,251,298 times
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Quote:
Originally Posted by reid_g View Post
The leaders of both parties know who their daddies are,Barnanke and the banking cartel.The Boner is out in the open on who he represents and it is surely not the people.Any type of reform from either party won't be worth a bucket of spit.The funny thing is a good portion of {R} posters think the country will be so much better off with them in charge and the Boner as speaker.
It also has been common knowledge that the bankers were dropping their crap off at the FR,JP Morgan and Goldman bought junk for pennies on the dollar.They purchased about 3.9 billion and Barnanke bought them at full price.When you have a sucker like us who would not take advantage.Yep we are screwed the bankers control both parties and the lemmings keep putting them right back in there.
reid, I believe you will find these two series interesting.
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Old 03-24-2010, 12:17 PM
 
3,948 posts, read 2,251,298 times
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Barry should've given butt head Bernie Hack the boot and replace him with this Republican.

"When the markets are no longer competitive, firms become a monopoly or an oligopoly and it matters more who you know than what you know. Then, the economy loses its ability to innovate and succeed."

The Maestro, Greenie himself also has awaken from his Rand & Friedman wet dream.

"So I mean, radical things, as you -- you know, break them up, you know. In 1911, we broke up Standard Oil. So what happened? The individual parts became more valuable than the whole. Maybe that's what we need."
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Old 03-24-2010, 01:13 PM
 
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The Johnson, fighting the good fight.

"Our regulators have failed us, repeatedly. What we need now is some smart legislation."
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Old 03-25-2010, 08:29 AM
 
3,948 posts, read 2,251,298 times
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I hope everyone has got the swooning out of their system over the health care bill.

Because there are some serious questions that too little Timmy has got to answer for.

"If the White House is going to succeed in leading the reform effort Tim Geithner needs to do two things: He needs to let the public (and Congress) know where the Administration stands on some key issues, fleshing out the populist talk with policy detail. And he needs to address questions about his past performance, as uncomfortable as that may be. If he doesn't, you can bet that the opponents of real reform will - now, and even more forcefully in November."

And more Goodman goodness here.
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Old 03-25-2010, 12:52 PM
 
3,948 posts, read 2,251,298 times
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I recommend these videos, especially as many of them not only explain the problem but also offer solutions.
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Old 03-25-2010, 01:56 PM
 
Location: The Retreat at Twin Lakes
20,516 posts, read 8,818,685 times
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Quote:
Originally Posted by kovert View Post
A while back it was no surprise who did their best to coddle the poor, little frightened banksters.



Thing is, the company Big O keeps is doesn't inspire confidence either. (Go Grayson ).

"The New York Fed, under the direction of now-Treasury Secretary Tim Geithner, knowingly allowed itself to be used as a "warehouse" for junk loans, the report says, even though Fed guidelines say it can only accept investment grade bonds."

At least he was smart enough to bring in Volcker.

But will the former Fed head prevail or will his successor will continue with business as usual?

The fate of the world hangs in the balance.


Include Franklin Raines in that list of banksters.

Clinton repealed Glass-Steigall with broad support from Democrats in Congress.

Democrats refused to create and effective regulator to replace ineffective OFHEO and even threatened to filibuster S.190.

Bush sent Snow to Capital Hill to lobby for GSE oversight reform way back in 2003.


YouTube - Nancy Pelosi, Barney Frank, and Democrats are Clueless on Freddie Mac Fannie Mae and the financial credit crisis.


YouTube - Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown
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