Comments on: Secrets and Shadows: How the Fed Saved the Global Financial System

By: Cassandra Vert

Cassandra Vert — Tue, 23 Aug 2011 00:05:58 +0000

I do read zerohedge as well as Naked Capitalism, Credit Writedowns, and Matt Taibbi. I wasn’t defending banks (believe me!) so much as saying that unknown to us at the time, the Fed prevented a worldwide financial meltdown.

Williambanzai7 has ideas on how to fix problems or at least start the process, which is a great and rare thing. What I am doing to get the word out beyond this blog is at www.planamerica.org and the book FIX America! that we just put out. It is a collection of over 40 essays, including one explaining the housing bubble and one with a ton of statistics on everything from wealth inequality to Social Security.

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By: nswfm

nswfm — Mon, 22 Aug 2011 23:48:17 +0000

Read the blog zerohedge if you want to understand what’s going on in the financial world. If it’s overwhelming, read the posts by williambanzai7 on that blog and his own site.

This is a good start:
www.zerohedge.com/contrib...

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By: Shiva (Moderator)

Shiva (Moderator) — Mon, 22 Aug 2011 21:09:36 +0000

that must be the $1.2 trillion that Ron Paul was slavering over when he wanted to audit the Fed. In retrospect I agreed with him that the Fed should be audited constantly, now I see that it floated the entire civilized world not including the Arab countries. What good will that audit be now? And what is it going to cost the citizens of the world to bail out these huge giant companies that probably should not exist as they are. Everyone of these massive corporations needs to be broken down into competitive components. Do you remember when your bank used to pay you 5% interest on your banking account and now you get .05%? That was due to competition. Something that absolutely does not exist today.

I want to see what the Republicans have to say about saving the world. I’m sure that will not be their take on it

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By: mel in oregon

mel in oregon — Mon, 22 Aug 2011 18:12:57 +0000

it isn’t $1.2 trillion, it’s more than 10 times that amount as sen bernie sanders forced release under the freedom of information act shows. it would have been far better to let the global financial system take a huge hit. it wouldn’t have collapsed, but if an all out effort had been made to save american homeowners, while the stock market might have dropped 40-50% for a year or so, we & the rest of the world economy would be out of recession & if we had followed keynesian economics, we would again be booming. bernanke & other wallstreet toadies know this, but they don’t care. after all, they are all fabulously wealthy.

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