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Forum Post: It's Financial Schemes, Stupid, US Public Knows Financial Schemes Ruining the USA, Corporate Cartels, Monopolies, Privateers

Posted 2 years ago on Oct. 4, 2012, 2:32 a.m. EST by Middleaged (5140)
This content is user submitted and not an official statement

If you have sat through one or two Presidential Debates, and have a little suspicion, then you know nothing significant comes out of Politics.

Looking at the History of Financial Schemes and Financial Frauds you have to go back to the first Corporations. These were Charters or Marques granted by European Royalty. These also should include Papal decrees. They appear mostly to grant profit making in the name of the King over the greater seas and far away lands in other countries like the 'New World'.

Then we should acknowledge that some kinds of insurance appear to be good ideas, i.e. Life Insurance, Auto Insurance, Health Insurance, etc.

Here is a post about US Massacres motivated by financial gain. http://occupywallst.org/forum/big-picture-commom-questions-about-corruption/#comment-726962

Here is a post about world slavery and how it relates back to piracy and corporations formed under a charter. http://occupywallst.org/forum/big-picture-commom-questions-about-corruption/#comment-697290

Here is a post about how US War was tied back to corporations 100 years ago by one of our US Generals. http://occupywallst.org/forum/big-picture-commom-questions-about-corruption/#comment-702388

Here is a post about US Monopolies. http://occupywallst.org/forum/big-picture-commom-questions-about-corruption/#comment-697290

Here is a post about US Corruption and Financial Scandals. http://occupywallst.org/forum/big-picture-commom-questions-about-corruption/#comment-646520

SO WHAT IS THE POINT

It's Financial Schemes, Stupid. The US Public Knows Financial Schemes are Ruining the USA.

President Lincoln ran the economy during war time without the financial scheme to borrow money from Big Banks. Colonial America did just fine economically till the English tried to take control of the money, impose taxes paid in silver, and other issues.

The history of the US has plenty of financial schemes that people don't like. Conmen or Kingdoms get into our lives and take our money. Conmen or middlemen come into our lives to make money off of us by outsmarting us. And conmen sometimes have lawyers and the court system to do it.

Sure we need banks, credit systems, debt, and financial contracts to run our US Economic System. But we don't need all the things they tell us that we need.

We don't need court sysems where the ones with the most money end up either winning the court case or else just get a small fine from the SEC.

We don't need a US System that has been pouring money into the economy since at least 1998 even before war. Out US Total Account Deficit has doubled since Bill Clinton. Our US Federal Budget Outlays have Doubled. Social Security and Medicare have doubled with out any control over medical costs, hospital costs, or drug costs.

We don't need a system that covers up the unfunded pensions both public and private in the US. There is at least $1 Trillion dollars shortfall in US Pensions right now.

A) We need portable public healthcare with cost controls.
B) We need portable Pensions like Social Security.
C) We need affordable Courts Systems and probably need civil case standards to bench mark law for quick resolution and redress.
D) We need banks that lend money to small businesses even when they think the economy is weak. This means break up the banks that profit from risky behavior, naked short selling, casino investing, computer trading, bubble seeking, making a market (price fixing), etc.
E) We need law in the Financial Community. We need bankers that are proud of the US and proud to be honest.
F) We need US Citizens that pay their taxes, don't avoid or scheme to avoid taxes, shelter profits off shore till Romney is Elected, etc.
G) We need A Federal Tax System that a high schooler can understand and can see where corporations pay all their taxes.

Break up the Banks, Prosecute Financial Fraud, Streamline the US Tax System, Streamline Civil Court for people without money to access, No Tax Holiday for Off Shore Profits, No more expensive security state, Fully Fund Social Security for the Future ($1 Trillion), Grant 5% Interest on Individual Bank Savings Accounts for Main Street, forgive tuition for certain medical doctors in general Practice, Maximum 1% Interest on Student Loans and Tuitions.

No more Profit off our Elderly or our students.
No more profit off our Mid-tier Hospitals by selling them expensive equipment they don't need.
No more conflict of Interest in Federal Government, in our state or federal regulators, in our financial ratings agencies, or in our independent auditing firms.

No more Financial Crisis like 2008

No more Savings and Loan Scandal

No more Keating Fives

http://en.wikipedia.org/wiki/Accounting_scandals

http://en.wikipedia.org/wiki/Accounting_scandals#Notable_accounting_scandals

How did we let Financial schemes from the age of Kings and the Pope continue into the 21st Century?????*

State or National Banks can make loans and provide credit to our US Small Businesses and they can Create Money. Regional banks can provide cash currency or liquidity in an event like a "Bank Run".

Stop Bailing out "Free Market Banks and Financial Institutions"

If we have free Markets, stop bailing out and making excuses for Big Banks and Financial Institutions. If Big banks don't lend money to small Businesses and "Honest" economic enterprises, then our State Banks, Credit Unions, National Banks, and Regional Banks will have to pick up the slack.

The FDIC and States insure the big Banks, so WHY don't they cut them off of bail out funding and special access unless there is a "Conflict of Interest" that is preventing prosecution.

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49 Comments


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[-] 1 points by Middleaged (5140) 2 years ago

Copying to this posting since Nader is Talking about Solutions to our Financial Schemes. The Essential Ralph Nader Video for the Presidential Election is about his new work called 17 Solutions, Bold Ideas:

https://www.youtube.com/watch?v=QnEI_TYOnqU&feature=related (1:15:00 long, you can skip to 15:00 minutes in, Busboys & Poets Recording about his 17 Solutions for the US)

Difficult to copy his Main Points, probably have some extras that he had as subtopics.

Reform, Rebuild, Restore, Restrengthen, Re-Regulate, Re-engage, Re-empower

1) Tax on Pollution 2) Tax on trading stocks, Derivatives, computer driven trading 3) Income Tax Restoration, Reform, Simplification, tax corporations, get rid of Loopholes and tax Shelters 4) Making Communities more Self Reliant, banking, energy, health, food, dispalce dollars going to corporations 5) Give Science and Technology back to the People instead of toward war and weapons, recycling, gardening, alt energy, water & Sewage treatment 6) Protect the Family Unit, stop corporate campaigns toward toddlers-14 year olds, junk fook, teaching nagging, obesity, commercialization of childhood 7) Get Corporations Off Welfare/Crony Capitalism/ Corporatism 8) Federalize Corporations/ National Charters 9) Crack Down on Corporate Crime, strengthen enforcement, automatic disclosure 10) Restore Civil Liberties 11) Become a Humanitarian Superpower instead of military superpower 12) Use Government Procurement for Innovation in Technologies 13) Rebuild our Infrastructure Public Works, dams, roads, water, 14) Reduce our Military Budget $800 B 15) Re-Engage Congress at Local Townhalls, get 300 people to attend and agree only to talk about excessive corporate power (or other subject) 16) It only takes a handfull of people to start a social movement 17) Congressional Watchdogs 18) Find the Enlighted Super-Rich in America, leverage older people 19) Unorganized Sports, get healthy, put down devices, interact

*-US is a vicious two party Duopoly -We have been waiting for Single Payer health Care since teddy Roosevelt -Super PACs can flood our Elections, independent candidates have to find a way to get public funding, trick is too start at the Local Level demanding to get on Tickets, national free time to ballot qualified candidates is a good idea


Ralph Nader presents his thoughts on America's economic and sociopolitical landscape and provides seventeen solutions that he contends will answer several issues facing the country. The independent candidate for President in 2004 and 2008 opines on tax reform, the reduction of the military budget, and programs for job growth. Ralph Nader speaks at Busboys & Poets in Washington, D.C.

https://www.youtube.com/watch?v=QnEI_TYOnqU&feature=related

[-] 1 points by Middleaged (5140) 2 years ago

Columbia University Lecture Series on Modern Monetary Theory (MMT Economics) features, Stephanie Kelton, Randy Wray, Warren Mosler.

http://neweconomicperspectives.org/2012/10/modern-money-and-public-purpose-2-governments-are-not-households.html http://www.modernmoneyandpublicpurpose.com/seminar-8-economic-rights.html http://www.modernmoneyandpublicpurpose.com/seminar-3-the-eurozone.html http://neweconomicperspectives.org/category/stephanie-kelton

She says she thinks they have won over are have been convincing, Joseph Stiglitz, Martin Wolf, Paul Krugman. I think William K. Black has been in their corner since they seem based out of UMKC.

Peterson Foundation is behind the "Fiscal Cliff" Myth. This is an organizanized Financial Scheme and Propaganda. The talk about Debt and Deficit currently going around politics is harming people.

http://neweconomicperspectives.org/2012/10/pete-peterson-has-won.html

http://neweconomicperspectives.org/2012/09/were-not-broke-and-the-clinton-surpluses-destroyed-the-us-economy.html (Two Myths in America, that we are broke and that Surpluses are good for the US)

http://moslereconomics.com/2012/02/21/mmt-in-washington-post/ (budget surplus as a Danger)

The Up Shot - Bankers are self serving and while the Economy flounders causing harm to American People, the financial guys in Washington and on Wall Street "Get Fat Dumb and Happy". The Depression is know for the Bankers not lifting a finger to help or Lead the nation. The same thing is going on today. Only now there are political campaigns telling people things that makes the nation get poorer while Bankers get to control the money like in the Depression.

[-] 1 points by Middleaged (5140) 2 years ago

Peterson Foundation is behind the "Fiscal Cliff" Myth. This is an organizanized Financial Scheme and Propaganda. The talk about Debt and Deficit currently going around politics is harming people.

http://harryshearer.com/wp-content/uploads/2012/10/ls121028le_Show_-_October_28-1.mp3

Most People Don't Understand Money. Here is an Audio Interview with Dr. Stephanie Kelton, Associate Professor, UMKC, which Explains 1) Money 2) Money Issuer 3) Money User 4) Economics of Monetary Policy/Fiscal Policy 5) Problems with Politicians not understanding Money (Rs & Ds) 6) Pete Peterson and the Peterson Foundation Propaganda.

We had 8 Depressions on the Gold Standard - and none off the Gold Standard.
If you have 23 Million People Unemployed or Under Employed, who want to work, and you have the means to put them to work as the Creator of the Money - It is a No Brainer when there is $2.5 Trillion Dollars worth of Infrastructure Work that needs to be done - To put those people to work through government Programs.

People don't understand that money represents relationships, one person has a debit and another person has a credit, they are both part of the economy, the US Government is the Creator of Money and is a huge part of the Economy, and it's spending is very important in fixing the Economy.

Alan Greenspan and Ben Bernake have repeatedly stated that there is no limit to the resources of the US Government. This is because our government is the creater/owner of the US Dollar. We are currently at 100% of our GDP in debt. Japan is at 200% of it's GDP.

Columbia University Lecture Series on the Internet features, Stephanie Kelton, Randy Wray, Warren Mosler.

They have won over perhaps, Joseph Stiglitz, Martin Wolf, Paul Krugman, William K. Black.

[-] 1 points by Middleaged (5140) 2 years ago

David Kay Johnston has a new Book "The Fine Print: How Big Companies Use ‘Plain English’ to Rob You Blind".

Inside cover bullet is that 19 US States have Legislation that Allow the biggest corporations to Deffer paying State Taxes for 25 Years.

Now isn't that Big News.

http://fdlbooksalon.com/2012/10/06/fdl-book-salon-welcomes-david-cay-johnston/

http://wamc.org/post/david-cay-johnston-fine-print (Audio Interview - Turn down your Volume first)

http://www.progress.org/2012/fineprin.htm (Good Summary)

The Fine Print is about how big companies rig the rules of commerce to escape the rigors of competitive markets, artificially inflate prices, provide poor quality services compared to other modern countries, and literally put lives at risk for profit by seeking weak regulations or exemptions from safety rules.

Mark Karlin: In your author's note to "Fine Print," you ask "How have all of us consumers ended up paying to many extra charges on electric, phone and other bills?" That's something everybody asks when they get their monthly statements. What's the answer?

Cay Johnston: Monopoly utilities figured out that if they added many moving parts to your electric, phone and other bills they could raise this line item and then that one and later another and it made it easier to jack up prices. One electric utility has a bill with 26 separate charges. If there were just two -– a flat fee for connecting to the grid and a variable fee for how much juice you used -– it would be easy to spot price increases. Instead they get lost in the clutter.


Cay Johnston: "Perfectly Legal" showed how the super-rich – from the $250 million Romney class of wealth to people who literally make 20 times that much in a year – game the tax system, in some cases legally paying nothing in federal income taxes.

"Free Lunch" revealed subsidies that go to all sorts of corporations, some of which derive all of their profits from taxpayers. The government, by the way, does not collect data on either rich nontaxpayers or most of the giveaways to corporations.

The Fine Print is about how big companies rig the rules of commerce to escape the rigors of competitive markets, artificially inflate prices, provide poor quality services compared to other modern countries and literally put lives at risk for profit by seeking weak regulations or exemptions from safety rules.

http://truth-out.org/news/item/11958-how-big-companies-use-plain-english-to-rob-you-blind

[-] 1 points by Middleaged (5140) 2 years ago

What can we do to End Financial Oppression of Banks, or Curb more Financial Schemes.

One Voice that can help here is William K. Black. He seems to be one of the "Cooler Heads" giving voice to the Crisis in the US Criminogenic Enviroment.

I have heard Bill Black say that you can't stop Crime, but you can pass laws, regulations, enact enforcement and implement procedures to reduce and discourage Crime (paraphrasing very liberally with my own view).

But that doesn' address your question or give you an answer.

I believe you have a bad premiss. I don't think you can say or do anything to Drive "Dirty Oligarches" out of the US. I don't even think Higher Taxes would drive them out.

Publicity and pressure did seem to drive Rupert Murdoch out of the Newspaper busines in the UK, though. However, he is old, has younger protoges or offspring, and didn't lose much.

Bill Black is one person who you can follow, who is active in OWS, who has the experience, who has the expertise, and who can tell the story of the corruption of the USA.

I'm trying to remember what his suggestions are, but drawing a blank. I need to read more of his work and view more videos.

1) Push for a return to Law in the USA.
2) Recognize the Criminogenic Environment in which businesses operate in which High Risk, High Leverage, and high Incentives and Compensation Exist.
3) Push for Sound Pension Funds which don't invest in the Shadow banking, Private Equity, High Risk, Wall street World.
4) Never allow your Social Security to be Privatized.
5) Demand that Public Pension Funds be scrutinized constantly, that they be transparent, that they be fully funded, that all problems be aired publically, and that workers not be fooled into thinking that their Retirement and Pension Funds are Conservative or Low Risk when they are part of some Financial Scheme.
6) Help Public Employees understand the Risks that their Retirement contains. These are the most transparent, most regulated, most public, and most easy to push into Media, into Internet Blogs, etc.
7) Search for Zombie Pension Funds (those invested in Zombie Private Equity Funds which are no longer providing a return to Investors). I think Zombie Funds can be leveraged into the Media and made into a Big Scandal (see New York times Story this Year).
8) Expose Municipal and State Deals with Big New York Banks (Wall Street). These big deals will reflect one thing. The huge exposure and Investment that cost Taxpayers over decades and all the dollars Spent. (Recently a California School got something like $10-15 Million dollars & Will have to pay back $100 M in payments starting in 20 years).
9) Remember that Alabama County that went bancrupt because of a Sewer or Water deal with a New York Bank. This is probably typical for School Districts, Counties, and Municpalities ...They are not Financially Sophisticated. They are getting Taken Advantage of. The bank always wins. The message we need to put out is all "Financial Schemes" carry risk, will cost Taxpayers Money, and probably the bank is winning more than you can guess.
10) Remember the IMF, World Bank, and these International Rescue packages? They are all Financial Schemes which serve to manipulate people in foreign countries and draw money out of the people. If it was a Resuce Package, it would be a Grant (Gift) not a Loan (with interest payments).
11) We all have to publish Global Financial Schemes in a way that gets people to recognize that they are just using a credit card with a very high Cost. And sometime like with Libor Scandal you don't even image the system itself is rigged.
12) The goal would be to have a hard nosed person in every meeting with Big bankers Representing the taxpayer - Carping, Criticizing, denigrating, bad mouthing, digging into every detail of every new deal. True business deals are only fair - if there is a big fight in negotiation. (and the bank is still going to do well every time).
13) How do we Train young business people and young students to protect and avoid financial schemes. How do we train empoyees to negotiate strongly and be critical of any plan for financing. Demand your City, County, State, School District put in place a Program to Get Smart on Finance, Avoid Big banks, Avoid Financial Schemes, be critical of all Deals, Etc.

[-] 1 points by Middleaged (5140) 2 years ago

Pointing out the Obvious, Obama is waiting and watching during this 1st debate. But we don't know if President Obama will really get engaged in battle with the self righteous Romney.

[-] 1 points by WSmith (1634) from Cornelius, OR 2 years ago

Iceland has an 80-90% voter turnout and voted to nationalize the banks, imprison the Banksters and bailed out the people. We have the lowest voter turnout, the highest Big$ turnout and we bailed out the Banksters, spotted $million bonuses, fired and foreclosed on the people.

[-] 2 points by Middleaged (5140) 2 years ago

I understand in Iceland many people have 2-3 jobs too. There is a problem in the US with our heads vs hearts or spirit. Well it could be spiritual too. We seem to be very productive, impatient, agressive, political, etc to the detriment of our politics. Some how we are too focused on our selves, families, and jobs. Too distracted from business, crime, fraud, politics....

I think there is a fatal flaw in the US Psyche. I should try to write about it or explore it some more.

I also wonder about the people that don't vote. I think it is the poor that don't vote. Poor people would tend toward democratic.

in general I think the US is more democratic and supportive of our social programs. Kids, women, poor, minorities...they should be more liberal and democratic. They should want Financial reforms, tax reforms, business reforms, government reforms, etc.

[-] 1 points by LeoYo (5909) 2 years ago

Many people who don't vote in the US realize they have no choices in voting for party candidates that are both bought by corporate interests. Thus, whether the voter participation is greater or lesser, the same corporate choices remain as the only choice resulting in no choice at all.

Many who would vote Democrat remember the Democrat victories of 2006, the Democrat victories of 2008, and the Democrat betrayals that resulted in the lack of support in 2010. Now, the best promoter of the Democratic Party is the craziness of the Republican alternative.

The US is not Iceland. Iceland had private banks that were larger than its national economy and central bank. Thus, the government couldn't bail them out and had no choice but to nationalize them. Voting had absolutely nothing to do with it. The US was never in that situation as it was able to bail out its private banks.

Iceland has a different political system that allows for multiparty coalition governments and nationwide referendums. The political system of the US only allows for two parties to dominate at any given time and has no national referendum.

The US and Iceland are two very different places.

[-] 1 points by WSmith (1634) from Cornelius, OR 2 years ago

The disenfranchised are real and abundant: poor, minorities, ignorant, what have you.

A large number of us are Foxed in the head by Big$ and Big Media propaganda. Such as 24/7/365 RW Hate radio.

Then there are the undecided: http://www.nbc.com/saturday-night-live/video/undecided-voter/1418227

[-] 1 points by Middleaged (5140) 2 years ago

I can't remember if I voted for Clinton. I missed some voting in presidential elections. I was always a little turned off on politics and elections... to be honest. I was going to say that women don't always vote, but I don't always vote either. If you work, I guess you might forget to vote.

[-] 1 points by WSmith (1634) from Cornelius, OR 2 years ago

My experience was vastly different, worked my brains out, political junky since JFK. Everything, life, is political! Labor. Always voted and active.

[-] 0 points by TheRazor (-329) 2 years ago

Iceland has about 250000 peope. For some unbeknownst reason, so many here want to use Iceland and compare it to America. Its inane.

[-] 1 points by WSmith (1634) from Cornelius, OR 2 years ago

OK, then France. Happy?

Countries with voter turnout control their government. We have Big$ turnout and that's who calls the shots.

TURNOUT! or STFU!

[-] 1 points by Builder (4202) 2 years ago

It's inane because you can't get your head around the fact that a quarter of a million people can make a difference, while 300 million can't ? ?

[-] 1 points by TheRazor (-329) 2 years ago

2can play that game. The rest of America should copy North Dakota exactly. Unemployment is 4%, huge budget surplus.

Hey this is fun!!

[-] 0 points by justiceforzim (-17) 2 years ago

For Christ's sakes. What's with the adoration of Iceland? There are more people in my small midwestern city than in Iceland....339,000. Pretty damn easy to do anything in a "country" that size that's over 90% native, share the same religion and values, too.

[-] 1 points by WSmith (1634) from Cornelius, OR 2 years ago

OK, then France. Happy?

[-] 1 points by TheRazor (-329) 2 years ago

Whats France done that is so exemplary?

[-] 0 points by WSmith (1634) from Cornelius, OR 2 years ago

They just raised the tax rate on the rich to 75% or/and some wonderful things like. New socialist government.

[-] 0 points by TheRazor (-329) 2 years ago

We'll see. The wealthy and companies are starting to leave France.

[-] 1 points by Builder (4202) 2 years ago

If the taxes are raised in the US, will the wealthy leave for better grounds?

[-] 2 points by LeoYo (5909) 2 years ago

The wealthy are already leaving and have been doing so for some time now. It's nothing new.

[-] 0 points by Builder (4202) 2 years ago

Might be a blessing in disguise.

The largest diaspora of Jewish immigrants to the US of A followed the Iranian revolution. They brought with them literally millions of dollars and much business acumen. The despotic and ruthless puppet Mohammad Reza Pahlavi must have been very kind to them.

[-] 0 points by yobstreet (-575) 2 years ago

Monaco was the hang out for years. In fact, the French were there, too. But specifically, they were avoiding taxes.

[-] 0 points by TheRazor (-329) 2 years ago

Depends how much they are raised.

[-] 1 points by Builder (4202) 2 years ago

The wealthy own the US.

They don't care how much the taxes are raised.

The real question is; how long can the facade be maintained?

[-] 0 points by TheRazor (-329) 2 years ago

Facade?

[-] 2 points by Builder (4202) 2 years ago

You just don't get it, do ya?

[-] 0 points by TheRazor (-329) 2 years ago

I get that you are jealous, envious of wealth.

[-] 1 points by Builder (4202) 2 years ago

I value freedom of speech over all tangibles.

No amount of coin can buy my silence.

[-] 0 points by TheRazor (-329) 2 years ago

I have followed your posts. There is a clear undercurrent of envy.

[-] 1 points by Builder (4202) 2 years ago

And your evidence is?

you've followed my posts??

Who is the envious one then?

[-] 1 points by agkaiser (1329) from Fredericksburg, TX 2 years ago

facade of decency. facade of honesty. facade of competence. facade of intelligence. if it wasn't for facades we'd see nothing at all of those who put the con in conservative.

[-] -1 points by TheRazor (-329) 2 years ago

Republicans are by far the most charitable people on the earth. That facade?

[-] 0 points by agkaiser (1329) from Fredericksburg, TX 2 years ago

No! That's bullshit!

[-] 1 points by TheRazor (-329) 2 years ago

Really? Prove me wrong.

[-] 0 points by agkaiser (1329) from Fredericksburg, TX 2 years ago

There's nothing to prove. My observation is purely subjective. But then I put up no facade of objectivity. That reminds me . . .

[-] 0 points by WSmith (1634) from Cornelius, OR 2 years ago

Righties always say that but it never comes true. Scare tactic for continued exploitation, extortion!

[-] 1 points by Middleaged (5140) 2 years ago

I believe the current scheme... Is for the US Federal Reserve to buy up mortgages, mortgage derivatives, or sub-prime mortgages...take them on to the federal reserve balance sheet...then later sell them to the tax payer... meaning the US Tax Payer will end up paying full price for any mortgages that financial corporations want to sell off.

In the end the financial corporation will get cash that it will take to invest in risky casino investments.

William K. Black says that risky deals drive honest deals ....."out of the system" in an enviroment that has incentives like bonus', higher salaries, and golden parachutes for finance managers.

Systemic Risk as a result of Financial Schemes only grows while economics systems only get more complicated. In fact NO one can really tell if a Public-Private Partnership is a fair deal anymore. We only know one thing, the private part will ALWAYS get Bailed Out by the Public Side (the taxpayer!!!)

Financial Schemes ARE the disease

[-] -1 points by justiceforzim (-17) 2 years ago

Well, yeah, this QE infinity isn't gonna help you or me. It's helping the admin's goal of closing down fanny and freddie. The sad thing is, we taxpayers are now buying all these bad mortgages and the folks that took them out are STILL gonna end up foreclosed on.

[-] 1 points by Middleaged (5140) 2 years ago

Yes, and the bad actors get bonuses, promoted, retire while creating more 'bad' paper in the form of derivatives or risking systemic financial schemes.

Systemic Risk - Goes High - Grows Bigger - Spreads Wider.

[-] 0 points by yobstreet (-575) 2 years ago

If we had let those banks crash, these people would own their houses outright.

[-] 1 points by Middleaged (5140) 2 years ago

Yes, There were alteranatives. Maybe 1/3 of Liquidity froze, but they were big banks and investment funds. A mix of solutions to provide liquidity where it was a crisis, A receivership for bancrupt banks, Regional banks to pay mortgages in cases where we could have nationalized homes going into forclosure, Strong State Investigators and FBI Task Force to prosecute Fraud, Special Sessions of Congress to create a national debate and deepen the investigation, etc.

[-] 1 points by MattLHolck (16833) from San Diego, CA 2 years ago

the bailout money should have been sent to the debtors

[-] 0 points by yobstreet (-575) 2 years ago

No, but their debt obligation should have been expunged and the bank closed. People on top were too concerned about investment dollars.

[-] 0 points by hchc (3297) from Tampa, FL 2 years ago

Actually the VAST majority of the public thinks the main problem is either the top tax rate on the rich or welfare for the poor.

[-] 1 points by Middleaged (5140) 2 years ago

Don't you mean Tax Loopholes for the Rich.

Anyway, some of us like to feel we are intuitive or that we have special insight. I like a link someone posted on Pew Research Polling. Good stuff. On topic for the Presidential debate and Election.

Your statement is clearly to simplistic. I know some economist don't want any budget cuts for the federal government because they want to stimpulate the economy and keep money flowing. I'm a little different from them. I'd like more effiency, targeted increases to specific programs or investments that are in construction, manufacturing, science, education, and places where we know we are going to need investment to cover waste, energy demands, etc.

But if you start pulling data on federal budget spending, you won't believe the spending. It is way out of control. It is obvious that it is a prolonged strategy to stimulate the economy. But I could be wrong. This could be the dumbest country of the 20th Century.