Listening to Rush right now discussing this whole nightmare. It’s Smoke and Mirrors on a mammoth scale across the globe...
What I wonder is if ANYONE, anywhere really understands what’s been done...
“What I wonder is if ANYONE, anywhere really understands what’s been done...”
NO! and, furthermore, this stench falls right in line with the motto of the BHO adm: PAY TO PLAY!
First of all, the FED is just getting around to releasing docs they fought tooth and nail to suppress.
Secondly, they are still WITHHOLDING BAILOUT DOCS -— see bloomberg.com -— right-hand column, under most popular stories right now. I do not think FR is permitted to even link to a Bloomberg story [are we?], but the headline is:
Fed Withholds Collateral Data for $885 Billion in Financial-Crisis Loans
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SE MOM: Did you carch which article Rush was reading from?
I’m listening too.....it’s disgusting....
It isn’t just a matter of what’s been done. It is also a matter of why it has been done. Back in 2004 I began worrying about the kind of greed that was pushing CEO’s of top corporations to manipulate their salaries up to 400 to 1,000 TIMES that of their low level employees. Back in Reagan’s day they seemed quite prosperous with only a 40 times differential. When Grasso left the New York Stock Exchange he tried to take the entire profit of the Exchange for himself. After he was forced to give some of it back he still left with $140 million. Then there was Enron. And the entire meltdown of Wall Street in 2008 killed Countrywide Financial whose “smart” CEO lowered his 2007 of $142 million to a mere $103 million, Lehman Brothers CEO raised his salary from $52 million to $72 million in the same period. No wonder NO ONE wanted to bail them out. So John McCain was right when he said GREED was the issue.
So my question is, what is wrong with our society, or our methods of child rearing and education that such monumental greed is developed in our top business leaders? Some of them actually used to want to create something valuable and useful.
What I wonder is if ANYONE, anywhere really understands what’s been done...
I bet Mr.Madoff gets it.
Certainly not Rush's Duke Professor! The idea the the Federal Reserve is independent is laughable. It says United States of America all over their notes, the signatures of the US Treasurer, and the US Secretary of the Treasury are on each note; and anyone doing any business in the US is required by US Law to accept them as payment for any debt.
Rush even went through a whole litany of things the Fed did to protect the Political Class. Yeah, that's real Independence! Does the Fed ever do anything that like say NO to the Political Class?
The fact is that the supposed Independence of the Fed is a legal fiction that enables the Federal government to print money.
ML/NJ