FRONTLINE: THE WARNING

morekaos_IHB

morekaos_IHB

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This was one of the best pieces I have ever seen on the inception of much of our current financial woes. Well done, well researched but (for those of us who have been around) not all that surprising.



<a href="http://www.pbs.org/wgbh/pages/frontline/warning/">The Warning</a>
 
Morekaos.

I am really glad you took the time to post this thread.



Last night when I got home I watched most of this show. It was dead on accurate in its analysis of the CDS

nightmare. And to the woman that tried to stop it before it crushed us.



I would suggest everybody take the time and watch this program.
 
I think it was an excellent example of the total entrenchment of financial interests in all levels of government. It is so pervasive that from Wall Street's perspective, it really doesn't matter which party win an election because they control the purse strings of the people donating, of the people organizing, of the people lobbying, and of the people who are running for election. I'm totally convinced that there is no point in bothering with politics anymore; no politician is willing to fall on his sword (give up re-election) for the good of the country in order to make the kinds of fundamental changes we need and no politician will win running on an anti-wall street platform. Obama, sadly, is going to follow in the footsteps of the Presidents before him, as evidenced by Volcker's invisibility in the administration while Geithner, Summers, and Bernanke continue the policies of Paulson & Co.



Seriously, what's the point? My choices are voting to be able to pay for things myself or paying massive taxes so the government can give it to me. Yay!
 
No market is free if the money it uses is fiat currency with a fractional reserve banking system. The current problems were not caused by the free market. They were caused by crony capitalism, which is not capitalistic at all. The problems were caused by the federal government and the Federal Reserve and the banking system acting in the best interests of banks. The problem was not lack of regulation. The problem was regulations which favor banks over the public interest. The very existence of the Federal Reserve is an anathema to free market capitalism. Alan Greenspan, as a follower of Ayn Rand, completely negated Rands concepts in his tenure as Chairman of the Federal Reserve.









The OTC derivatives market could barely exist without fractional reserve banking.
 
I hope one of the AGs(Cuomo or Brown or someone else) goes Rambo to bring some big fish down. I don't care if they only do it for their political resume. In fact, I hope that's why they do it. People are pissed off and looking for someone to stand up to Wall Street.
 
I always liked Eliot Spitzer. He was a great AG in New York.



But that NJ Hooker got him in trouble as Governor.

He is on Dylan Ratigan`s show in the mornings very often on MSNBC. He would be perfect.



We really need somebody to bust a can of whip ass on the unregulated CDS Market`s or its just going to happen again

down the road. We seem to be doing alot of that kick the can down the road stuff lately.
 
[quote author="bltserv" date=1256194987]I always liked Eliot Spitzer. He was a great AG in New York.



But that NJ Hooker got him in trouble as Governor.

He is on Dylan Ratigan`s show in the mornings very often on MSNBC. He would be perfect.



We really need somebody to bust a can of whip ass on the unregulated CDS Market`s or its just going to happen again

down the road. We seem to be doing alot of that kick the can down the road stuff lately.</blockquote>


It wasn't a NJ Hooker who got him into trouble really. If every politician's private behavior were to be placed under a microscope in search for something incriminating, we'd have very few politicians left. They only get caught when an extremely powerful person or group of people wants them to get caught. Eliot Spitzer was getting way too close to busting the lid off of too many things and had to be stopped. I guess the lesson for any politician who wants to buck the system in Washington is that you'd better be living a squeaky clean life.
 
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