Reply #10: The moment for the radical change is over and done with [View All]

When Obama took office, he could have sat down and appraised the situation. Looked things over and realized that the main Big time Wall Street players DELIBERATELY set the system up for catastrophic collapse.

And then he could have gone to the American people with an appraisal that there was not a reason in hell to let these same people anywhere near the helm of the economic ship of state.

Does that mean we would have been without a banking system? No of course not. In fact there would have been several options to choose from


The two options I like best:
1) Have the government simply take over the various banks and financial institutions that needed Bailout funds. Get rid of the Federal Reserve 0- both Paulson and Bernanke have conflicts of interest involving them both with more interest on their part of the worth of Goldman Sachs than with the recovery of the nation. Crete a Central bank that is truly independent.
Or
2) go back to the Reagan-era regulations directing the influx of monies (Circa the S & L crisis of the eighties) Put those policies in place, and thus the money from the federal government would flow to regional, state chartered local banks to be dispensed to the people.

But that moment is now past. Plus it is reported that we have as as nation offered twelve trillion dollars to Wall Street (Well actually 700 Billion if it was the stim package.) So we've given a huge amount of money, more than 11 trillion, handing it over to the Banksters. They are not taking good care of us, but they will take care of that money.

There was a slim hope that this would work out (Handing it over to the banksters, I mean.) None of the banks HAD TO demand full value on their lost monies due to the bad gambles they made via the Credit Default Swaps. But since late January it has become clear that the banks will not settle for pennies on the dollar, but want the full value. To hell with us. We are jsut the chuum,ps that are handing them their Bailout monies. Nothing more, nothing less.