Free Republic

At the end of 2009, the total federal debt was $12.3 trillion—a staggering amount of money. Now, it stands at an astonishing $23.1 trillion. That’s roughly $180,500 of debt for every U.S. household. It is important for Americans to understand how we got here, and what lawmakers can do to bring back fiscal sanity. Poor Handling of the Financial Crisis The federal government entered the 2010s with sky-high annual deficits. This had two primary causes. First, the Great Recession reduced incomes and profits, which meant a sharp decrease in tax revenue. A slow economic recovery kept tax revenue relatively low...

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So exactly how did the big banks in Cyprus get into so much trouble? Well, they have been doing exactly what hundreds of other large banks all over the U.S. and Europe have been doing. They have been gambling with our money. In particular, the big banks in Cyprus made huge bets on Greek sovereign debt which ended up failing.But what happened in Cyprus is just the tip of the iceberg. All over the planet major financial institutions are being incredibly reckless with client money. They are leveraged to the hilt and they have transformed the global financial system into...

This week financial news organization CNBC gave some mainstream attention to the largest money laundering and racketeering lawsuit in United States History, in which “Banksters” and their U.S. racketeering partners are being accused of laundering of 43 trillion dollars worth of ill gotten gains. The lawsuit is said to involve officials located in the highest offices of government and the financial sector. Since this information was surprisingly revealed by the mainstream news organization there has been a very suspicious and deadly fallout at the CNBC headquarters. Within hours the original page for the article was taken down, and CNBC senior...

Remember the “2,074-page monstrosity” that was ObamaCare? . . . Forget about it. Somewhere in obscurity, where legislation is actually written, the game of one-up-manship appears to be completely out of hand, as the U.S. Senate on Thursday passed the financial reform bill that eclipsed 2,300 pages. Like most experts in the financial world, economic analyst and professional investment consultant, Peter D’Arruda, is watching this legislation unfold with reservations—not just because of the size of the bill, bloated with hundreds of new regulations, but because of what Senator Dodd (D-CT) said as he ushered the bill through . . ....

Banks boosted borrowing from the Federal Reserve's emergency lending facility over the past week, but cut back on other programs intended to ease the financial crisis. The results offered a mixed picture of credit conditions.

This Past Tuesday the Republican Members of the House Committee on Oversight and Government Reform released a staff report that provides the reasons for the Housing Bubble Burst 2007. The Report finds that the housing bubble burst that led to a financial crisis can be traced back to federal government intervention, pushed by the Democratic party, in the U.S. housing market. “The spin on the financial crisis by those who favored government efforts to erode lending standards is that the housing bubble didn’t cause this recession,” said Rep. Darrell Issa the Committee’s Ranking Member. “The findings in this report should...