Editor's note: The next two posts provide an example of how specific objectives evolve when people begin to consider the root causes of our socio-economic breakdown. The Federal Reserve is a key component of society's ills, but the rationale for arriving at this doorstep seems to be support for "unfettered capitalism". A naive position to justify a worthy cause- to end the Fed.
The Daily Bail
Don't skip the clip inside - Runs 2 minutes. Peter Schiff provides sanity at the end.
Moore is cluelessly deranged regarding bailouts, the Federal Reserve and capitalism. The problem is not unfettered capitalism; the problem is that favored industries were spared from the market by government assistance.
Capitalism does NOT exist on Wall Street.
Every single over-leveraged, fraudulent financial institution that was saved by TARP and Bernanke and Geithner's trillions in stealth bailouts should have been allowed to fail. We are talking about investment banks, after all, not your grandmother's church choir.
Investment banks take risks by nature. And they should face dissolution and bankruptcy when those bets don't work out.
We've said it from the beginning, against the ignorant and misinformed current of status-quo talking heads and wannabe financial experts, including Inside Job director Charles Ferguson and over-hyped author Ellen Brown, allowing Lehman Brothers to fail was the only thing Bernanke and Paulson ever got right.
The market spoke and the government didn't intervene. That is capitalism. And not coincidentally we learned later that Lehman was an over-leveraged cesspool o [...]
Submit your suggestion / comments / complaints / Takedown request on lookyp.com@gmail.com
The Daily Bail
Don't skip the clip inside - Runs 2 minutes. Peter Schiff provides sanity at the end.
Moore is cluelessly deranged regarding bailouts, the Federal Reserve and capitalism. The problem is not unfettered capitalism; the problem is that favored industries were spared from the market by government assistance.
Capitalism does NOT exist on Wall Street.
Every single over-leveraged, fraudulent financial institution that was saved by TARP and Bernanke and Geithner's trillions in stealth bailouts should have been allowed to fail. We are talking about investment banks, after all, not your grandmother's church choir.
Investment banks take risks by nature. And they should face dissolution and bankruptcy when those bets don't work out.
We've said it from the beginning, against the ignorant and misinformed current of status-quo talking heads and wannabe financial experts, including Inside Job director Charles Ferguson and over-hyped author Ellen Brown, allowing Lehman Brothers to fail was the only thing Bernanke and Paulson ever got right.
The market spoke and the government didn't intervene. That is capitalism. And not coincidentally we learned later that Lehman was an over-leveraged cesspool o [...]
Submit your suggestion / comments / complaints / Takedown request on lookyp.com@gmail.com
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