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Bernanke, Paulson, FDIC Eye Taxpayer Bailouts, More Power

Now there is an open proposal, "only for emergencies, wink-wink", to use taxpayer money to bailout banks. Instead, what needs to happen is for insolvent banks to fail. We are in this monstrous mess because the Fed, attempting to bail out its banking buddies in the wake of a dot-com crash, decided the way to do it was blow an even bigger bubble to reliquify banks.

That operation "succeeded" by creating the biggest housing bubble the world has ever seen. However, the patient is now on the death bed. And just as you do not give heroin to addicts to cure them, you cannot and should not even consider injecting taxpayer money into banks that quite literally deserve to go under.

Sloshing money around does nothing but zombify banks, while further depleting the pool of savings that should go to more productive uses. Inquiring minds may wish to consider Night of the Living Fed for an analysis of the Fed's role as pawnbroker, why such misguided policies are bound to fail, and what the real solution to this mess is.
More at: http://www.marketoracle.co.uk/Article5364.html

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Don't forget....

...who Mr. Paulson is: the former head of Goldman-Sachs. GS runs Wall Street. They are, by-far, the most corrupt financial entity in America. GS is the puppet master who pulls the market's strings and artificially makes our commodities too expensive to eat or fuel our vehicles or heat our homes. They are at the top of the financial cartel that is systematically eradicating the middle-class. And now, the former head of this evil monster has been 'appointed' as our nation's CFO. Death to the Fed, and all those involved.
I am serious, and don't call me Shirley.
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BC
If you're not outraged, you're not paying attention!

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BC
Silence isn't always golden....sometimes it's yellow.

"The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them." - Patrick Henry

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