| Yeah, it's disgusting how the inner GS circle who've gotten themselves into power and their enablers in Congress and at the Fed circle the wagons and do everything they can to protect the investment banks and brokers at any cost to the taxpayer (Paulson, Geithner, Rubin, Bernanke, Kashkari). Detroit is getting beat up because they came to the table with their hands out w/o a plan. Does anyone ever ask the banks for a plan? No. They just give 'em the dough. And it's all STILL a black box - how much toxic debt is really on the books, how liquid these banks really are, the details of the Fed's largess (like how many foreign banks have gotten $$ financed by the American taxpayer, etc. etc.) This thing is beyond their control. Anyone who hasn't seen that already is blind. We're told that allowing these investment banks to go under would be a scenario too horrible to contemplate. For whom? For them, their power, and their pocketbook. And yes, there would be economic repercussions, but in the end we'd be better off w/o them and better off w/o the Fed. I can get a loan from a local bank w/o any problem and can finance a house with 20% down. Why should I give a flying shit if Citi, or GS, or AIG, or MER survive, other than people losing their jobs, which I really would prefer not to see? |
