It convinced me to change my mind on this proposed bail-out.
Prior to this point, I had been tolerant of the proposal, because, as Lonely NY Conservative described with fine insight, this bail-out was better than the alternative, the catastrophic collapse that we came close to last week.
I have been describing this bail-out as the "Banker Consolidation Act of 2008", in posts here and there. In short, I consider that this is a deliberate scheme to destroy or engulf competition in the banking and financial industry, perpetrated by a few at such places as the New York Fed, Goldman Sachs and JPMorgan. There is over a century of just such anti-competitive practices, from these very same people and their predecessors, dating back at least to the Robber Barons of the late 1800's. It's in their blood.
All this still stands, but as Karl Denninger clearly explains (see his YouTube video presentation at King Paulson - Hope you like it), it was exactly Paulson and his fellow foxen who converted our hen house into a Tyson chicken packing plant. Given how obvious it was to several perceptive viewers and commentators for the last year or more what was going on, we can reasonably assume that this financial crisis was deliberately caused.
We cannot hand a lead architect of this crisis, Paulson, former CEO of Goldman Sachs, nearly a trillion dollars and absolute dictatorial power with unlimited legal immunity, to run whatever financial businesses through that money laundering factory he so chooses, selling off the assets for whatever price amuses him to his cohorts in this crime of the century, with the United States picking up the tab for any losses.
No Mas
Some major medicine is needed, and needed quickly.
But we don't hand the keys to the hen house, with an essentially unlimited budget and absolute immunity from prosecution, to the head fox.
Better to risk collapse of the hen house (the financial roof over all our heads) than this.
Wow- Well stated.
“this financial crisis was deliberately caused”
Oh I’m sure. No doubt all a big conspiracy. Probably by the same elements in the US government that caused 9/11.
And isn’t Hank Paulson one of those giant lizards that secretly controls the world?
I’m sure he must be.
Excellent post. Thank you.