Reply #70: Robert Reich [View All]

[Mark D.]

Should be the replacement if the current treasury secretary ever steps down. I've been listening to his words ever since he left the Clinton Administration. He's never been wrong about anything. Even the health care bill passed was what he predicted (not happily either, he wanted the reform to go a lot farther as most Americans, including 'Scott Brown voters' did).

JPM Chase. There's that name again. This isn't new to me. When Bear Stearns was about to collapse, I mean like the day or two before, when the NY Fed (ie. Giethner & his people) were on site late at night, looking at Bear Stearns books at their headquarters, the news report on it mentioned that JPM Chase was there. Really. Isn't that interesting they were there?

A little easy research shows the tipping point of both their collapse and Lehman's collapse were done by JPM Chase. Goldman Sachs helped, but they were Robin to JPM Chase's batman. Wall Street is their Gotham City. It's apparent they call the shots. The first name we hear about when we heard calls for Tim to step down, as a replacement, was JPM Chase's CEO.

Come on now. Talk about foxes guarding the hen-house. The Credit Default Swap was invented by that bank. That eludes much public understanding. The very concept of it was 'moral hazard'. Betting on failure. Now if a few elite want to do that with their own effing money, fine. This opened the door to using money that was never supposed to be involved (the public's).

Both in the source of what they bundled (mortgages, etc.) and the bailouts we paid for when they fumbled. Dylan Ratigan has long put the estimated total taxpayer bailout expense, from general Fed liquidity to banks, to these propping-ups mentioned above, to TARP, which was comparatively small in the big picture, to almost 24 trillion dollars. It's unimaginable.

I so wish we could get Dylan Ratigan, Max Keiser, Tom Hartmann, Robert Reich, Dennis Kucinich, Ron Paul, Bernie Sanders, Paul Volcker, heck - also the economist/author/narrator of "The Money Masters" video series, in a room, to figure out how to fix this economy. Those are the naysayers. They don't trust the Fed. They want it audited or gone, as we all should.

They'd all support some real consumer protection group in government NOT located in the Fed (except Ron 'less government' Paul but who cares what he thinks about that one particular aspect, he's often right about things, but when he's wrong, he's really wrong). The point is, we have great minds, but they aren't working together enough. Damn, this is a great idea!