Finally, someone in the financial arena who's got a brain

[bull]

Bill Cooper should be appointed Chairman of the Fed:

http://www.associatedcontent.com/article/1536313/bill_cooper_ceo_of_tcf_bank_returns.html

[NHCharger]

 As mentioned in that article there are a lot of strings attached to receiving a TARP loan from the government. It's the first step in the governments plan to nationalize the banking system and turning us into a society that is totally dependent on the government.

[Mike DC]

As mentioned in that article there are a lot of strings attached to receiving a TARP loan from the government. It's the first step in the governments plan to nationalize the banking system and turning us into a society that is totally dependent on the government.

   
Yeah, but the whole reason the banking system is in this mess is because of lack of govt oversight. 

They didn't control (antitrust) the size of the banks, nor did they adquately nationalize them to keep a handle on what the banks were doing.  Either solution you favor, it still demonstrates that what got us here was a lack of govt intrusion on the banking industry.  They didn't protect the taxpayers when they needed to.       


   

[bull]

As mentioned in that article there are a lot of strings attached to receiving a TARP loan from the government. It's the first step in the governments plan to nationalize the banking system and turning us into a society that is totally dependent on the government.

   
Yeah, but the whole reason the banking system is in this mess is because of lack of govt oversight. 

They didn't control (antitrust) the size of the banks, nor did they adquately nationalize them to keep a handle on what the banks were doing.  Either solution you favor, it still demonstrates that what got us here was a lack of govt intrusion on the banking industry.  They didn't protect the taxpayers when they needed to.       


   

I would say it's lack of ethics that got them in trouble, not a lack of govt. involvement. And the latter is not a good substitute for the former.

[Mike DC]

It's not just my personal opinion.  It's how this stuff is done all over the world throughout history. 



It's the same reason that a person holding 60% of a company's stock deserves a much larger voice in how the company is being run than the guy who only holds 2% of the total stock. 

With these recent bank bailouts, the American public was alerted to the fact that they're "invested" pretty seriously in a small # of banks.  So they deserve some influence (nationalization) in how those banks are being run in the future. 

Either that, or the public has the right to split its money up into a bunch of smaller chunks (antitrust breakups of the huge banks) and dilute the risk of bank failures somewhat.  That way the system & the public could withstand failures of individual banks better without resorting to massive taxpayer bailouts. 



But it's not right for the American public to get soaked like this by a very small # of banks with no change to the situation.  We can't pay off the banks and then just say, "please have some ethics and don't do that again."  If the govt had been doing its job we would never have been in this situation in the first place. 

[ipstrategies]

Read the book "The Creature from Jekyll Island" if you really want to know about the Fed and why we are in this designed Bankster mess. The Fed was created by the banking cartel and is private not Federal at all.

[Mike DC]

   
Yeah, the creation & managing of the Federal Reserve is a very, um, "interesting" subject.   

Sorta like federal income taxes.  Just because it's prohibited in the consititution, that doesn't mean the govt won't just go ahead and do it anyway.