American in Paris

Freedom of Information Act Disclosure Busts Paulson, Geithner, Bair

You're very confused. Without those capital infusions those banks were bankrupt today.

I am very glad the Federal Government rescued the banking system.

And yes, the government does have broad regulatory power over the banks.


On May 14 06:18 AM User 353732 wrote:

> What happened to separation of Bank and State?
> Well, the governing elites concluded many years ago that protecting
> investors, consumers and honoring both law and custom were major
> impediments to advancing the self interest of the political and financial
> barons. Collusion, in the name of the people, was a far more expedient
> strategy for self perpetuation.
> They decided that the quaint old way when money and sovereignty
> belonged to the people and Washinton DC and Wall St actually had
> to earn the right to make important national decisions and take
> and spend the people's money was neither efficient nor modern. The
> elites looked at the way the Chinese, Russians and Japanese did things
> and saw that it was good. So, the elites decided that "globalizing"
> this collusion between State and Bank would be the new, improved
> way for ensuring the continuity and advancement of Elitism in the
> US.
> Transparency, accountability and bright lines made the Washington-Wall
> St oligarchy anxious and fearful, so away with them.
> The old American model was: protect the people from the governing
> elite. The new model is: protect the governing elite from the people.
> The Chinese, Russians and Japanese approve and applaud.