The nation survived the collapse of the WTC. It would also survive a collapse of Citi. Our country DID manage to find a way to live without Citi for many many years before Citi existed, and after some initial pain we would get along just fine without it.
Outlaw all naked CDS and force the rest to be exchange-traded.
Do this NOW, or the Dow will see 2000 before the end of the year.
That part is true, the balance is BS, they could not buy the toxic assets because there were more out there than the output of the world.
By owning banks, insurance companies and real estate (ie Fannie/Freddie), the central government controls the very source of tax receipts that allow it to fund its primary directive: expanding state benefits to satisfy Obama's electoral supporters.
How else will BHO finance both health care & energy (cap & trade) without resuscitating the very economic underpinnings which has fueled the growth of government over the last 20 years?
Until people begin to study & understand why the FIRE economy was nurtured and given special legal protections, they will continue to fail to understand the nature and reason for the various bailouts and continued efforts to re-ignite a credit driven consumer bubble.
It's all about moving the ball forward - current economic issues are just a deflection away from the real goal: health care and economic direction & control via energy cap & trade programs.
And when they admit the truth - inadvertently - that the money's no good and that the financial system is insolvent - they use apocalyptic language, like "Poland is going to fall" or "the end of everything".
Money systems come and go. This one has had a remarkably good run, considering its fundamentally fraudulent nature - but now it's time to wrap it up and start over.
This has happened many, many times in world history, and the only thing it's usually the end of is the wretched lives of the lying fraudsters who bring about the massive loss of savings.
When people speak about Poland falling, if they're not talking about Nazi tanks and execution pits, but rather the closure of the Dolce & Gabbana store in Warsaw, it simply reflects how far gone most people are.
If we have a president we could trust, letting the banks fail, then taking them over, cleaning them out, and turning them loose would be the solution. The problem is we can’t trust this administration to do it.