Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend  
Printer Friendly Page Save As Favorite Save As Favorite View Article Stats
8 comments

OpEdNews Op Eds

Enabling Acts for an Era of Greed: The Money Party at Work

By (about the author)     Permalink       (Page 3 of 3 pages)
Related Topic(s): ; ; ; ; ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It

Headlined to H2 4/14/09
Become a Fan
  (100 fans)

opednews.com

The bailout and other efforts to save Wall Street firms and the large banks are essentially an effort to deal with the problems of derivatives and other market failures.  Wall Street got the court decisions and legislation it wanted and then promptly proceeded to create today's disaster.

They sold these risky products and now they have to pay off.  But they don't have the money even with the current bailouts.  Where will they get it?  The federal government was the only sucker left to tap and that bet came through to the tune of $4.6 trillion.  There's $4.6 trillion awaiting further requests from the Federal Reserve

The culprits are still in place at failing financial institutions.

Don't hold your breath waiting for political action to fix the situation.  Both parties were in on this mess.  Huge majorities in both houses of Congress voted for key legislation to allow the biggest bank heist of all time.  But his time, it was the banks pulling the heist.

That's why the bankers have to stay in place.  To remove them, would be telling, as William K. Black said recently:

"But the other element of your question is we don't want to change the bankers, because if we do, if we put honest people in, who didn't cause the problem, their first job would be to find the scope of the problem. And that would destroy the cover up."

William K. Black, Apr. 3, 2009

But it was all legal, wasn't it?

END

Permission to reproduce in whole or in part with a attribution of authorship and a link to this article

Next Page  1  |  2  |  3

 

http://www.opednews.com/author/author3863.html

Researcher, writer DC Area Attack on Syria - Struggle for Turkey - Attack on Libya - The Money Party = Survival - End Times - Obama Administration - Politics and Policy - Election fraud - Pennsylvania Sexual Abuse Scandal - (more...)
 
Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Follow Me on Twitter

Contact Author Contact Editor View Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Worst President Ever - Barack H. Obama

It's official! You're on your own

Ukraine President Once Agent for U.S. State Department

Rigged Elections for Romney?

Real Unemployment at 23% - Dampening the Excitement

The Pennsylvania Sexual Assault Scandal, the Second Mile Foundation, and Penn State

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
6 people are discussing this page, with 8 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

not Left vs Right; not black vs. white.Now I know ... by Rady Ananda on Tuesday, Apr 14, 2009 at 10:38:52 PM
Thanks! Yep, these people trashed the system and ... by Michael Collins on Wednesday, Apr 15, 2009 at 12:19:38 AM
It's sad to see so much greed when there is so... by David Waters on Wednesday, Apr 15, 2009 at 2:20:19 PM
"But the other element of your question is we... by William Whitten on Wednesday, Apr 15, 2009 at 5:41:11 PM
Here's a story that makes your point: http://sc... by Michael Collins on Thursday, Apr 16, 2009 at 3:51:42 AM
I love MS Fitts, I have been following her inside ... by William Whitten on Thursday, Apr 16, 2009 at 2:30:00 PM
 ~ http://en.wikipedia.org/wiki/Economic_warf... by Nemo on Wednesday, Apr 15, 2009 at 9:50:01 PM
The oligarchs always win. There are no other rules... by Harvey Solomon on Thursday, Apr 16, 2009 at 3:53:08 PM