Trkingmomoe: Finance and Society
Maiello: A Blog Called Crime and Punishment
During my time at Occupy Denver I have had many conversations with people carrying signs saying End The Fed. I suggested that this is the only monetary system people have had in their lifetime and to just suggest ending it without talking about a better system seems a very negative way to go about getting the desired results.
I don't love the idea of a central banking system with the government in the state it is currently in. However if the majority were to be inspired to wake up and reclaim their political power and restore some form or real democracy I could support it.
Either way the Fed 'as we know it'... needs to be ended.
I recently had read the bill HR 2990 by Dennis Kucinich in which he brings the money making authority back to congress along with some job creating measures.
And then today there was this from Bernie Sanders
also covered on Dylan Ratigan's show:
Learning that 75% of the board of directors of the Federal Reserve had direct ties to financial institutions bailed out and benefited by monetary policy they oversaw has me ready to stand in front of the capital with my own 'End the Fed' sign today. Other countries have healthier monetary systems, health care systems, education systems... why is our country such a mess???
And I want to end with this.
When Secretary Paulson offered his 3 page bailout plan that had a get out of jail free clause attached for himself back in the fall of 2008 he was on a Sunday news program being interviews and he said 'I had to wait for it to get this bad so that I could ask for this.'
And the 'too big to fail banks' are even bigger now. There is nothing to stop them from doing everything they were doing before. And the weak Dodd/Frank bill that is being villified on by the republicans is being fought tooth and nail as try not to fund its implementation and tout that what this country needs is more deregulation.