Monday, March 31, 2008

Federal Rewards

With today's announcement by the Federal Reserve that they are going to enact the biggest reforms since the Great Depression one has to wonder if the wave of Republican deregulation that started in the Regan years has been a complete and utter failure. Now The Federal Reserve wants to take more power centralizing our financial institutions more than they have ever been centralized before, just about to the point of Nationalizing our banking system. How did we get to the point of Nationalizing our banking system? This is the result of no regulation, letting hedge funds and speculators run amok with no oversight.

Just as the Eron speculators took down the legitimate energy companies, so too have the speculators put the banking industry in peril. Who will this affect, why of course the average American Family will suffer. Will there be any investigations or indictments of the speculators who were cooking the books throughout these years of no regulation. Of course not. Just as there is no accountability of the Katrina disaster, and the Iraq war lies, so too there shall be no accountability for the banking crisis.

Today the British press had a story likening the USA to being in the midst of a Great Depression.
And back on the Home Front, another excellent Administration Official announced a resignation. HUD Secretary Alphonso Jackson, announced his resignation, citing family matters. Hello, Congress, is anybody in there. Nothing was done after "that a boy, Brownie", then Gonzales, then Libby, and on and on and on. The Empire is burning STOP fiddling.

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