Comments on: It’s a wonderful life 2011

By: JnetNW

JnetNW — Wed, 13 Apr 2011 19:50:27 +0000

Brill! THANKS, Arianna!

For years I’ve been favoring credit unions and small banks. Not only do I believe in their principles, I dig NOT feeling like a peon/number.

The big banks left, with our money (immoral home-loan policies), and then stole some more through the bailouts. I think their goal is to ‘delete’ the Middle Class and with it, a work force that requires something of the employer, and a populace that requires something of their government. No integrity.

By: robertsgt40

robertsgt40 — Wed, 19 Jan 2011 15:16:34 +0000

“Golden Rule” applies here. You own the gold
(or gold plated tungsten), you make the rules. Closed shop folks.

By: JamesChirico

JamesChirico — Sun, 16 Jan 2011 07:33:54 +0000

The gov’t and it’s agent the Fed. work not in the people’s interest, but the big banks. Capital reserves requirements for regionals all but cutoff their ability to make coin (no credit card bus.) by making loans other than mortgages. As they went under Chase has been picking up liquidation bargains. Big banks did not loan the little guy increasing credit card balances accounting for 20% of their income. A Fed. and gov’t working in the people’s interests would have told them no small bus. loans, no discount window at the Fed.

By: sixfathom

sixfathom — Tue, 04 Jan 2011 18:27:25 +0000

An excellent post.

You have missed two things–perhaps the saddest of all.

First, fraudsters now have little to fear. Only the most blatant (eg. Madoff) now go to jail. The rest get minimal fines they can regard as a cost of doing business. Let’s hope Cuomo and his A-G successor in New York will do what Obama will not, and attack those who loot the public and steal with a pen rather than a gun. Regan and his Republican successors at least jailed the fraudsters. Obama can’t even do that.

Second, there are real victims of the fraud. They are found in every town and on most streets other than Wall Street. I am not talking of those who took out NINJA loans–I am talking about those lost their jobs and their ability to pay their mortgages when their jobs disappeared. Obama gives these people no hope and will burden their children with the debts his Administration has incurred.

By: maltamoves

maltamoves — Tue, 04 Jan 2011 13:13:35 +0000

how is the US Dollar maintaining any value at all?

By: Danton

Danton — Tue, 04 Jan 2011 00:03:15 +0000

Multiple nails hit on the head here. The key is that, as Berle and Means explained it patiently in 1932, once corporations reach a certain size, it becomes in their own interest to try to control the government. From there, it is a quick path to the corporate state. Whalen here represents it as the govt. reshaping banking, but I think experience shows that the govt. only does what the bankers generally want it to do (the biggest ones, at that). — Danton