The Best Way to Rob a Bank...

[maxx]

Is To Own One, by Prof. William K. Black
http://www.pbs.org/moyers/journal/04032009/watch.html

On Bill Moyers's Journal today, he gave a pretty black picture of our business schools today as factories for greed. The transcript is not yet available.

[Jimaz]

That is just nuts. No wonder I keep hearing that the banks are continuing the activities that caused the financial meltdown.

The tragedy of this [banking] crisis is it didn't need to happen at all.

Oh, the transcript is available now.

[Whitehouse]

[Papasito]

That is just nuts. No wonder I keep hearing that the banks are continuing the activities that caused the financial meltdown.

http://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Act

Still repealed. Problems still haven't been fixed.


Honestly, when you think about it, the only way to fulfill the New World Order destiny is to reduce the United States to a broke 3rd world country, so that the people are at no higher a standard of living than the rest of the world. Government is orchestrating this transition perfectly with the intentional meltdown of our economy, bankrupting the country, the collapse of our housing market and devaluation of our property, ect ect ect. Cogs in the wheel.

[Jimaz]

GOP Fighting To Keep Wall Street Negotiations Secret

For the better part of a year, the GOP has blasted Democrats for legislating "behind closed doors" and making "secret deals." On Monday afternoon, the Senate will vote on a motion to proceed to debate Wall Street reform in public on the Senate floor.

Yet Republicans say their 41 members are united and will oppose the motion, in order to encourage Democrats to continue negotiating with them behind closed doors.

Condemning closed-door negotiations yet voting to prevent public debate is the height of hypocrisy, Sen. Jeff Merkley [[D-Oregon) told HuffPost on Monday. "By voting against cloture, Republicans are voting to keep Wall Street negotiations behind closed doors, demanding changes to the bill without public scrutiny. Instead of closed-door deals, they should support open floor debate," said Merkley.

Now surely they wouldn't want to hide anything important. Would they?

[oladub]

GOP Fighting To Keep Wall Street Negotiations SecretNow surely they wouldn't want to hide anything important. Would they?

If this is about transparancy, let's look at HR 1207 which passed the House. It would have required an audit of the Federal Reserve. The most corrupt politican in Washington, D.C. may be Senator Dodd who is also the Senate Banking Committee Chair. He has thrown out the Senate version of HR 1207, which was sponsored by Bernie Sanders, and replaced it with a milktoast amendment. It doesn't look like Chis Dodd wants much transparancy. Sen. Dodd and President Obama want the Federal Reserve to oversee new banking regulations of banks. Since the Fed is owned by the same banks it is supposed to oversee, we can get a hint of why Chris Dodd doesn't want the Fed to be audited.

In other banking news, Dodd and company are trying to set up a fund to bailout future mismanaged banks. The fund would be paid for by the banks which is to say the funds will come out of the savings accounts of a lot of senior citizens. I doubt that executive salaries will be the first thing to be sacrificed for the sake of President Obama's corporatist donors.

If there are any Republicans preventing transparancy, and there probably are, they should also be booted from office along with Obama and Dodd for perpetuating corruption. This banking bill is exactly what the bankers want.

"What the bill does NOT allow:
- The Senate language does not allow audits of the mortgage backed security purchase program, a $1.25 trillion program that at this point comprises the bulk of the Fed's balance sheet. This program includes Freddie and Fannie backed debt.
- The Senate language does not allow audits of possible losses on foreign currency swap lines, of which there were more than $500 billion at the height of the crisis. This includes unlimited credit lines granted to central banks all over the world, solely through at the discretion of Federal Reserve and without the input of any elected official or the State Department.
- The Senate language does not allow audits of open market operations, where there is ample room for errors, market manipulation, and insider trading violations."
...and on and on

Alan Grayson Discloses That Dodd Bill Covertly Eliminates Already Passed Legislation Requiring Full Fed Audit