Articles/News

Readers: adding this to all of the other sorts of fraud that have been perpetrated by the culture of greed and the subversion of regulation on Wall Street, this is no doubt only a small portion of the insider trading that has been going on.

By Joshua Gallu and David Scheer from Bloomberg.com

Reader: this a bit different sort of article, and it is the theory side of why the politicized agenda of Wall Street,the pop-economics of the gee whiz version of community currencies, and even the nominal monetary historians don't quite get it right. Milton Friedman though he received a Nobel Prize in Economics and is much beloved by the so-called "Free Marketers" was more of an ideologue than concerned with the real life affects of his untestable speculations. 

Readers: the political strategy of the banks is to use the need for reform as an opportunity to weaken any regulatory requirement. This is one of the three crises of Capital described by Istvan Meszaros, the crisis resulting from the influence of the banking industry upon the political processes, also known as plutocracy and in Biblical or Koranic terms this is USURY. This aspect was hard wired into the US constitution in 1787, and its power has only grown since then.

Robert L. Borosage
Co-Director of the Campaign for
America’s Future

Readers: Please, also read Jamie Walton's rebuttal to this article which makes Ellen Brown's suggestion a red herring at "Why States Going into the Banking Business Would be a Distraction, not a Solution to their Fiscal Problems" http://economics.arawakcity.org/node/240

Ellen Brown, October 14th, 2009
http://www.webofdebt.com/articles/publicly-owned.php

By William K. Black

posted from Economic Perspectives Kansas City Blog from the University of Missouri, Kansas City

Another lesson that federal guarantees aren't free.

Americans are about to re-learn that bank deposit insurance isn't free, even as Washington is doing its best to delay the coming bailout. The banking system and the federal fisc would both be better off in the long run if the political class owned up to the reality.

William K. Black
Assoc. Professor, Univ. of Missouri, Kansas City; Sr. was the chief prosecutor of the fraud committed during the S&L debacle in the 1980s

http://www.huffingtonpost.com/william-k-black/how-the-servant-became-a_b...

Voices of Power: Elizabeth Warren

By Lois Romano / Washington Post
http://michaelmoore.com/words/must-read/voices-power-elizabeth-warren

LOIS ROMANO: Welcome, Elizabeth Warren, Chairman of the Congressional Oversight Committee that is tasked with scrutinizing how the Treasury Department has spent $700 billion to shore up our failing financial institutions. Thanks for joining us today.

 Dean Baker
Co-Director of the Center for
Economic and Policy Research

http://www.huffingtonpost.com/dean-baker/wont-you-please-come-to-c_b_317...

 
Robert Creamer
Political organizer, strategist and author
Posted: October 12, 2009 10:01 AM

Read more at: http://www.huffingtonpost.com/robert-creamer/the-dominance-of-the-fina_b...