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The Fed Packages Corruption as 'Sound Public Policy'

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posted on Mar, 21 2008 @ 11:37 AM
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The Fed Packages Corruption as 'Sound Public Policy'


alternet.org

"What the Fed really did was lend money to banks and accept the counterfeit currency as collateral, treating it just as though it were real money," says Dean Baker, the co-director of the Center for Economic and Policy Research.


But this is not only disaster capitalism, it is also Big Boy Bailout-ism -- the kind we've become accustomed to since the savings and loan scandal of the 1980s. It is an ideology that rewards wealthy political donors for irresponsible behavior and ignores the real victims.

(visit the link for the full news article)




posted on Mar, 21 2008 @ 11:37 AM
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Ahhh, and the ever-recurring theme of our endlessly corrupted gov cow-towing and protecting corporate interests and shafting all the little people. Our Gov may as well just rename itself the US Corporatement. It's almost jaw dropping how crooked this entire establishment is. And it's right in all of our faces. They are literally flipping us all the bird while burrying us.

alternet.org
(visit the link for the full news article)



posted on Mar, 21 2008 @ 12:40 PM
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So, if they borrow the money from the American taxpayer, they gotta pay it back, right?
:shk:

The only thing we little guys can count on trickling down from the fat cats and big bankers is their urine as they piss on us all.



posted on Mar, 21 2008 @ 12:48 PM
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reply to post by goosdawg
 


They're using our bonds to pay off the banks.

We lend the government money, and in turn, the government lends it to private institutions.

That sounds like a great way to receive interest...Actually it doesn't at all.

Anyone with bonds now is not going to receive that money back. Nice fed, nice.




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