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The Financial Crisis Inquiry Commission Report

hypocritexposer

Well-known member
I see this report puts the blame solely on Bush's shoulders. This will definitely be a report that OT comments on.

• We conclude widespread failures in financial regulation and supervision
proved devastating to the stability of the nation’s financial markets. The sentries
were not at their posts, in no small part due to the widely accepted faith in the selfcorrecting
nature of the markets and the ability of financial institutions to effectively
police themselves. More than 30 years of deregulation and reliance on self-regulation
by financial institutions, championed by former Federal Reserve chairman Alan
Greenspan and others, supported by successive administrations and Congresses, and
actively pushed by the powerful financial industry at every turn, had stripped away
key safeguards, which could have helped avoid catastrophe
 

Mike

Well-known member
Sandhusker said:
Another reason that we need to get rid of the Fed.

We just went through the largest bank heist in history with the Fed (a Union of banks) stealing our money and no one is pizzed off. WTF?
 

Steve

Well-known member
Mike said:
Sandhusker said:
Another reason that we need to get rid of the Fed.

We just went through the largest bank heist in history with the Fed (a Union of banks) stealing our money and no one is pizzed off. WTF?

most know that the other option was even scarier.. congress controlling our money.

could you picture Pilosi with the control of the dollar and our monetary system?
printing_money_image.jpg

Pislosi's new all in one office printer


okey that might not look "real enough"
Pelosi%20Scuttles.jpg

with her in charge of the presses she could hand out bags of worthless money to every one...
 

Mike

Well-known member
Steve, I hope you are not taking up for the Fed in how they have squandered our money, especially that to the overseas banks. You are much too bright for that.
 

Steve

Well-known member
Mike said:
Steve, I hope you are not taking up for the Fed in how they have squandered our money, especially that to the overseas banks. You are much too bright for that.

I am not a fan of the fed. they are a huge part of the problem..

but given the choice,.. the FED or Congress controlling monetary supply, I think we should be weary of what we wish for..

an independent federal bank is needed, ours just isn't independent enough.
it is to tied to other controlled banks.. with the banks appearing to have more control then congress at the moment.

I would prefer it neither had as much control,
 

Mike

Well-known member
There's no need whatsoever to let Congress control our money supply.

The Federal Reserve system could work. Simple, just make them accountable.

As it is now, they have no one to answer to and can do whatever the heck they want with no repercussions.

Greenspan should be serving prison time right now.
 

Steve

Well-known member
Mike said:
There's no need whatsoever to let Congress control our money supply.

The Federal Reserve system could work. Simple, just make them accountable.

As it is now, they have no one to answer to and can do whatever the heck they want with no repercussions.

Greenspan should be serving prison time right now.

the fed answers to the member banks..
 

Mike

Well-known member
Steve said:
Mike said:
There's no need whatsoever to let Congress control our money supply.

The Federal Reserve system could work. Simple, just make them accountable.

As it is now, they have no one to answer to and can do whatever the heck they want with no repercussions.

Greenspan should be serving prison time right now.

the fed answers to the member banks..

Oh boy! I bet that scares them to death. :lol:
 
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