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truedelphi's Journal
Posted by truedelphi in General Discussion
Fri Sep 16th 2011, 02:18 PM
Story.

I cannot for the life of me imagine an Franklin Deleanor Roosevelt, or a John F Kennedy, or a Lyndon Johnson, or a Jimmy Carter letting an appointee know that a great deal more was needed in terms of having a bank being placed under more direct supervision, and telling an appointee that more regulation was needed, and that subordinate refused to obey, and any of those Presidents letting it slide.

I cannot imagine any of those men letting it slide if the bank in question, Citibank, happened to be a major beneficiary of the US taxpayers in their TAARP and their Federal Reserve Loan assistance.

Hells' bells, I cannot even imagine Richard Nixon letting this happen.

When Obama "hopes" people will vote for him in 2012, he has to know that a lot of the fulfillment of that hope depends on the change he has delivered.

And more and more people are pulling the curtain away from the Wizard. And discovering the Corporate infused logos all over the chair that the Wizard is sitting on.


But both Dennis Kucinich and Issa chaired a House Committee in the same time frame, and again and again those two men had discussions about how all that needed to happen to get the US economy back in place was to

1) Not offer huge Bailouts to the Biggest Banks and Financial Firms

2) Follow the same careful steps that were followed in the wake of the 1980's S & L crisis.

The laws were on the books, and what those laws required was that monies needed to prop up the economy be released to the state chartered banks, and that those banks would be required to disperse that money to the communities surrounding those banks. SO every region in the nation would have had a bank that gave its community members loans.

3) reinstate Glass Steagall.

This wasn't rocket science. Glass Steagal came about in the aftermath of the First Great Depression, and it kept our economy safe, but making sure that Banks were not casinos offering only the croupiers any possibilities of winning.

Instead we have seen this President's men offer over Nine Trillion bucks and more to the biggest Financial Players, who have:

1) created the mess in the first place, ruining the economy
2) not offered real repayment, but instead artificial payments of "investment papers," rather than hard cold American dollars
3) are currently creating a second, and even more serious, destruction of the economy


Meanwhile the Middle Incomed are told repeatedly via the Corporate Owned media that the reason everything in this country has gone to hell is because of the elderly getting checks from Social Security - a fund that has its own funding, paid into by the recipients, and which currently holds a 2.1 Trillion dollar surplus.



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