Here's Ron Paul talking to CNN about the AIG bonuses. What gets me is the way these presenters keep asking him questions as if he's a bit odd and the system is just having a temporary blip. Why don't they get to grill some of these quacks in Congress that seem to think money grows on trees?
What we have now is legalised crooks being bailed out and the illegal crooks (some kind of oxymoron, I know!) get to go to jail. What's the difference between Bear Stearns and Lehman Brothers and the ponzi crook, Bernie Madoff? Not a lot, I say.
How come it's OK to bundle up cash into so-called "investment vehicles" and get these vehicles to run around town on a heady high octane gas, crash them into a wall and then find out the vehicle is made of recycled toilet paper. There never was proper money in some cases. However, we are constantly being told we can't let the banks go bust. Why ever not? They are bust now. We are just pouring money into old coffers.
The Bible tells us you can't put new wine into old skins. So why are most Western governments doing just that?
What could Rachel Reeves cut to curb welfare?
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Yesterday I proposed a big saving on prisons by deporting many more foreign
criminals. Today I propose welfare reforms. The priority task should be to
grea...
18 hours ago
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3 comments:
"We are constantly being told we can't let the banks go bust. Why ever not?" The answer being given over and over is that "it's too big to fail", i.e. it would damage so many people that the effect would be disastrous. That leads to another question: why was any company let to get to such size? If something is too big to fail and simply has to be rescued, it shouldn't even exist, IMHO.
Take care,
Julie
You make a very good point. It would be a lot cheaper to let the banks fail and for the constituent parts to be sold off. Nobody asked questions because they didn't want to "know". It is all very shameful!
Most of the loans were made on the purchases of fake money products, such as repackaged sub-prime loans. It was bound to fail.
The great train robbers knew they were crooks. The great bank robbers are somehow seen to be different. However, the latter have caused far more damage to the world.
Hello again!
Maybe it's time for a strong initiative to pass a legislative forbidding such operations that you have mentioned. I've no idea if it had a chance for success, but I see this as the only prevention for the future.
Take care,
Julie
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