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Post by B on Apr 8, 2009 20:52:01 GMT -5
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Post by JoJo on Apr 8, 2009 21:00:59 GMT -5
From the above link: Yeah it is familiar.. "Young pinkies (pinkos?) from Columbia and Harvard". Bernanke graduated from Harvard.
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Post by B on Apr 9, 2009 10:14:09 GMT -5
Soros: Obama "Lost a Great Opportunity" to Fix the Bankstinyurl.com/ccdtl2George Soros was an early and avid supporter of Barack Obama, so it's probably no surprise he gives the President high marks for his handling of international affairs, the stimulus package, the budget (the famed financier calls it "very courageous") and for "stabilizing" the financial crisis. But President Obama "lost a great opportunity" by not taking a more radical approach in dealing with the banks, Soros says. "There's too much continuity with the bumbling and mishandling by the previous administration. Not enough discontinuity." Specifically, Soros wanted Obama to "come out of the gate with a well considered plan "to recapitalize the banks, rather than continuing with the TARP and related bailouts. But the President may have been hampered by his desire to create consensus, Soros says. "The nature of far from equilibrium situations is that public understanding is always lagging behind events. If you're guided by desire to have consensus, you'll always be a little bit slow." Essentially, Soros believes we should be following the so-called Swedish solution but fears we are heading down the same policy path as Japan. "We're effectively keeping zombie banks alive," he says. To those who rail about the dangers of nationalizing banks, Soros says: "You have to recapitalize the banks for them to function. As it is, we are nationalizing the debt of the banks, but not the banks themselves." Check the accompanying video for more and to hear Soros' take on Ben Bernanke, Larry Summers and Tim Geithner.
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Post by P(D)enny La(i)ne on Apr 10, 2009 10:54:57 GMT -5
From one of my favorite writers, Matt Taibbi. "For now the only thing to remember is that all the same people who got us into this mess — Rubin, Summers, Goldman in general — are now being put in charge of the cleanup by a president who spent most of 18 months on the campaign trail pledging to end the influence of money in politics. Add this together with the obscene giveaway that is the Toxic Asset program Geither has just devised (Goldman Sachs “expressed interest in participating in the plan as an investor,” according to the WSJ), and you have an amazing situation. Between the Bush and Obama administrations, you have a bailout program that has now figured three ways to funnel money to Goldman, Sachs: via AIG, via TARP, and now via this trillion-dollar “Public-Private Investment Program,” which basically lends huge amounts of money to investors and provides guarantees against heavy losses. It’s free money, state-subsidized profiteering at its most naked." www.smirkingchimp.com/thread/21218
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Post by P(D)enny La(i)ne on Nov 15, 2010 16:10:35 GMT -5
This is from Bill Still, the guy who made The Money Masters (which you should also watch).
"The world economy is doomed to spiral downwards until we do 2 things: outlaw government borrowing; 2. outlaw fractional reserve lending. Banks should only be allowed to lend out money they actually have and nations do not have to run up a "National Debt". Remember: It's not what backs the money, it's who controls its quantity."
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Post by B on Nov 15, 2010 17:50:26 GMT -5
the short version: ;D
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Post by JoJo on Nov 16, 2010 17:30:58 GMT -5
Thanks for posting that LB!
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Post by B on Nov 17, 2010 16:14:56 GMT -5
a rebuttal, posted by someone else
The Explanation of Quantitative Easing Revisited
and another
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Post by JoJo on Nov 17, 2010 17:10:50 GMT -5
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