TheBrutalTruth
Well-Known Member
By : TheBrutalTruth (2009-06-14 20:44:31)
NY Times
Apparently, according to Obama and his Administration of Misfits, the massive squandering of public moneys for the benefit of private corporations is how we "protect" ourselves. In that regards can't we just ditch the regulation and run around figuratively in the nude?
First off, there's the small problem with the inflationary policies of the Federal Reserve, which loaned out trillions of dollars that it probably produced out of nothing. Something that Representative Ron Paul wants to verify for the public by auditing what is probably the central pivot in a large corrupt banking system.
A banking system that has banks that are apparently too big to fail. A description that would seem to indicate that these banks shouldn't be getting bailed out, but should be getting investigated for being monopolistic entities that are too big to exist as one unit.
It is clear that this is the case. The cost of the bail out was in the trillions. The key focus of the crisis was massive financial institutions that went out having financial intercourse with strange financial animals that the world had never seen before. Can it be any surprise then that they ended up with diseases such as Capitalitis, Ratingitis and Worthlessism?
These financial titans are counter-weighted by the smaller local financial institutions that quietly continued to function as banks, instead of cavorting with strange financial animals and the unknown Financial Intercourse Related Diseases that they contain.
No, the local community banks that had small market caps and were focused in a few communities, or a single state, did not play with those weird financial animals, nor did they bring down the financial markets creating this recession.
They are not lined up waiting for bail outs, nor are they showing any cause for them to be regulated more tightly. A capitalist view would dictate that the government had let the banks that had engaged in financial intercourse with those weird financial animals be left to suffer from the Financial Intercourse Related Diseases that they picked up.
Diseases that would have lead to their ends. It is only Fascism and Socialism that we see a government that insists on tightening regulation in an industry more tightly regulated than any other (despite clear evidence that regulation doesn't work, and politicians can be bribed, err, contributed, into loosening regulations, much like Dodd, Pelosi and Co. were.)
Instead of realizing that the typical response of saving imbeciles from themselves (the most beloved approach of socialists) is unnecessary and wasteful the politicians ignored the public and voted to bail out the banks, and the GSEs and Detroit. Once again demonstrating the power of bribery.
No, a rational person, would realize that not only was the vast majority of the country against the bail out of the banks, and other financial institutions, but the majority of the country would hardly have blinked had the government announced that it was dividing up the failing firms such as JP Morgan Chase, Bank of America, CitiGroup and others for being abusive monopolies in their dominant regions.
Matter in fact, one would imagine that had the government announced that it was forcing those firms to declare bankruptcy (instead of bailing them out) the majority of the country would have cheered. Glad to see the firms that routinely punish them for their flaws (over drafts) get their come-uppance.
The banks wanted forgiveness for their sins, but only on rare occassions (when giving it wont hurt their bottom line_ are they willing to give their customers any kind of indulgence.
Too big to fail, simple means too big to exist. Instead of protecting these banks from themselves the government should be protecting the citizens from these banks.
NY Times
Apparently, according to Obama and his Administration of Misfits, the massive squandering of public moneys for the benefit of private corporations is how we "protect" ourselves. In that regards can't we just ditch the regulation and run around figuratively in the nude?
First off, there's the small problem with the inflationary policies of the Federal Reserve, which loaned out trillions of dollars that it probably produced out of nothing. Something that Representative Ron Paul wants to verify for the public by auditing what is probably the central pivot in a large corrupt banking system.
A banking system that has banks that are apparently too big to fail. A description that would seem to indicate that these banks shouldn't be getting bailed out, but should be getting investigated for being monopolistic entities that are too big to exist as one unit.
It is clear that this is the case. The cost of the bail out was in the trillions. The key focus of the crisis was massive financial institutions that went out having financial intercourse with strange financial animals that the world had never seen before. Can it be any surprise then that they ended up with diseases such as Capitalitis, Ratingitis and Worthlessism?
These financial titans are counter-weighted by the smaller local financial institutions that quietly continued to function as banks, instead of cavorting with strange financial animals and the unknown Financial Intercourse Related Diseases that they contain.
No, the local community banks that had small market caps and were focused in a few communities, or a single state, did not play with those weird financial animals, nor did they bring down the financial markets creating this recession.
They are not lined up waiting for bail outs, nor are they showing any cause for them to be regulated more tightly. A capitalist view would dictate that the government had let the banks that had engaged in financial intercourse with those weird financial animals be left to suffer from the Financial Intercourse Related Diseases that they picked up.
Diseases that would have lead to their ends. It is only Fascism and Socialism that we see a government that insists on tightening regulation in an industry more tightly regulated than any other (despite clear evidence that regulation doesn't work, and politicians can be bribed, err, contributed, into loosening regulations, much like Dodd, Pelosi and Co. were.)
Instead of realizing that the typical response of saving imbeciles from themselves (the most beloved approach of socialists) is unnecessary and wasteful the politicians ignored the public and voted to bail out the banks, and the GSEs and Detroit. Once again demonstrating the power of bribery.
No, a rational person, would realize that not only was the vast majority of the country against the bail out of the banks, and other financial institutions, but the majority of the country would hardly have blinked had the government announced that it was dividing up the failing firms such as JP Morgan Chase, Bank of America, CitiGroup and others for being abusive monopolies in their dominant regions.
Matter in fact, one would imagine that had the government announced that it was forcing those firms to declare bankruptcy (instead of bailing them out) the majority of the country would have cheered. Glad to see the firms that routinely punish them for their flaws (over drafts) get their come-uppance.
The banks wanted forgiveness for their sins, but only on rare occassions (when giving it wont hurt their bottom line_ are they willing to give their customers any kind of indulgence.
Too big to fail, simple means too big to exist. Instead of protecting these banks from themselves the government should be protecting the citizens from these banks.
