Waytago Vivo #3. I don’t usually agree with you, but your link is indeed a MUST READ.
Geithner is just a Wall Street stooge. As are the Fed and the Treasury — largely staffed by Wall Street insiders who’s loyalties are with Wall Street. Google and read stuff from William Black, who was involved in investigating the Savings and Loan mess (and was replaced by more bank-friendly laywers). And read Yves Smith’s blog Naked Capitalism to get a real picture of how Wall Street operates.
Here’s what I am wondering… The Fed, Treasury and powers that be in Wall Street all want to keep throwing money to keep insolvent banks afloat while they use Taxpayer dollars to continue realizing their profits. I wonder if they made a deal with Obama?? Something like “You can focus on your Social Engineering (healthcare, energy independency, cradle to job education…) as long as you leave Wall Street alone and let us carry on the way we want to.” William Black wrote that these bailouts all have a provision where those banks that participate in them are exempt from government regulation. Read this:
http://firedoglake.com/2009/03/23/talking-economic-accountability-with-william-black/
This whole financial crisis is about a corrupt and fraudulent Wall Street that is in bed with a corrupt government — with both Republicans and Democrats. Both parties receive gobs of money from Wall Street; they are paid to look the other way (or even to help Wall Street). Every once in a while the government will express outrage and do something to make it look like they’re there to represent the Little People. None of these folks give a Rat’s Hiney about the American that exists outside of Washington D.C. and New York City. While Wall Street makes insane profits, our own wealth is being DESTROYED.
