On Nov 28, 2011, at 6:06 PM, Francis Drouillard wrote: > > Wait until a clever candidate unites the Tea Party and Occupists against > crony capitalism. That alone will keep things lively through November 6, 2012. >
Will never happen. Those same capitalists are the ones funding and feeding the Tea Partiers. <http://sourcewatch.org/index.php?title=Tea_Party> The TP members may not believe it, but they're bought and paid for astroturf. When Rick Santelli threw his tantrum about homeowners getting loan modifications, the banksters he was supporting were getting trillions of nearly free money so they could tell their shareholders they were solvent. The issue here isn't really the loans the Fed made to the banks, because that's the ENTIRE reason the federal Reserve Bank exists (in fact the reason for reserve banking as a concept) as a lender of last resort during liquidity crises. The Fed was set up so we'd never have to rely on another JP Morgan to bail out the country. <http://www.ny.frb.org/aboutthefed/history_article.html> <http://en.wikipedia.org/wiki/Panic_of_1907> The complete and utter lack of transparency, on the other hand, IS an issue. Too big to fail really does mean too big to fail....if a TBTF institution goes down, it can take the world economy with it. I know you seem to be salivating at the thought of a Mad Max post financial apocalypse world, Francis, since you've long advocated just letting everything crash, but it really wasn't ever an option. It's akin to not fighting a fire in a crowded section of a city because the resulting firestorm will clear out some abandoned buildings. The European Union is rocketing along the same damn path largely because the ECB is refusing to act like a central bank and become the lender of last resort, and the nonsensical notion that the cure for austerity-induced economic contraction is more austerity. "The beatings will continue until morale improves" -- Bruce Johnson University of Arizona College of Pharmacy Information Technology Group Institutions do not have opinions, merely customs -- You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/stratalist-ot?hl=en.
