While political pundits are spouting off about how the pResident shouldn’t be blaming America, many folks are missing the point (including Chairman Zero). America hasn’t gotten soft; it’s been looted by the very same banking cartel, special interests, and crony capitalists that have been steering the economy for decades by bribing the political class and turning America into a nanny state. Now the economy has been completely decimated and those very same forces are trying to keep the bubbles they have created from popping because they went too far and they are about to lose all their money.
Alex Jones interviews former Goldman Sachs managing director Nomi Prins about the pillaging of the average American by the Federal Reserve and the big banks that has occurred in the effort to prop up the big banks. They cover S&P’s warning about America’s debt, the Obama administration trying to stop the warning from being issued, … Read more
Mr. Kuttner obviously has not read Dodd’s 1400 page masterpiece enough to know that it allows for bailouts in perpetuity (pg 1379). I haven’t even gotten all the way through the book on financial reform and I already know that creating a new government agency with a $500 BILLION DOLLAR YEARLY budget to keep track of every single financial transaction known to mankind, invest money, and then report on the firms they have invested in probably isn’t the best idea. This could be one of the reasons why Barry isn’t budging when it comes to ‘financial reform’. I’m sure there are more progressive ideas tucked inside this bill.
Excuse me while I heave into the bucket that is now stationed next to my desk. Neil Barofsky, the inspector general for TARP, in his latest report, states that a TARP program for small business lending (March 2009) has not yet been implemented. Whiskey Tango Foxtrot Award to the Treasury and TurboTax Timmie anyone? TARP … Read more