Michael Greenberger Gives The Best Interview You May Ever Listen To On The State Of Financial Markets
I linked to Michael Greenberger's criticism of Hank Paulson's proposed regulatory scheme a while ago. Paulson's plan clearly looks to be a power grab for finance firms. Similar to the other power grabs that mightily contributed to this crisis in many ways including some that are far from obvious. Many are untruths that are so widely accepted they are part of most people's belief systems. So we won't go there.
I believe it is self evident these attempted consolidations of authority are clearly not in the best interests of U.S. citizens or the U.S. economy. Especially from state jurisdiction to the Federal government and from a comparatively transparent oversight agency such as the SEC to the Federal Reserve. To concentrate power yields more opportunity for corruption, bureaucratic incompetence or conflicts of interest. To concentrate power into the Federal Reserve where transparency is a foreign word is an egregious act that would only benefit bankers. It chafes against the fundamental concepts of checks and balances. Paulson must surely know this. If he doesn't, he is in the wrong job.
What is rather disheartening is this country's CFO idly sits by as many become homeless while predatory financial institutions seemingly get his full attention. All in the name of free markets. For those who argue personal responsibility, I would argue we have consumer protection laws because not every individual has a legion of attorneys and topic experts at their disposal to determine the benefits of entering into a contract with a corporation. A contract that was devised with tremendous thought as to its advantages for corporations. That is why we have consumer protection laws. Because we are often unknowing. And, surely not able to match the wits of the corporation we are entering into contract with. It is hardly just to lay equal blame on citizens. Do we no longer embrace Lady Columbia's virtue of justice? Does Mr. Paulson realize he serves at the discretion of the people? Not at the discretion of elitist bankers whose predatory actions are destroying the people? Is this what you will for your government? It is your will that shall be done.
If you wish to become an informed citizen and impact future change, I would highly encourage you to listen to this interview with Greenberger in its entirety. The interview is repulsive, forthright, maddening and educational. It will enlighten you to the truth. And, that is a good thing. Because the mainstream media doesn't seem to care about reporting truth. News programming has become another opportunity for media corporations to enhance ad revenue. Talk about conflicts of interest. What advertiser wants to be associated with programming that reports the often unsavory truth? Greenberger, on the other hand, gives us a mega dose of honesty.
Here's the link to the interview titled 'Our Confusing Economy, Explained'
I believe it is self evident these attempted consolidations of authority are clearly not in the best interests of U.S. citizens or the U.S. economy. Especially from state jurisdiction to the Federal government and from a comparatively transparent oversight agency such as the SEC to the Federal Reserve. To concentrate power yields more opportunity for corruption, bureaucratic incompetence or conflicts of interest. To concentrate power into the Federal Reserve where transparency is a foreign word is an egregious act that would only benefit bankers. It chafes against the fundamental concepts of checks and balances. Paulson must surely know this. If he doesn't, he is in the wrong job.
What is rather disheartening is this country's CFO idly sits by as many become homeless while predatory financial institutions seemingly get his full attention. All in the name of free markets. For those who argue personal responsibility, I would argue we have consumer protection laws because not every individual has a legion of attorneys and topic experts at their disposal to determine the benefits of entering into a contract with a corporation. A contract that was devised with tremendous thought as to its advantages for corporations. That is why we have consumer protection laws. Because we are often unknowing. And, surely not able to match the wits of the corporation we are entering into contract with. It is hardly just to lay equal blame on citizens. Do we no longer embrace Lady Columbia's virtue of justice? Does Mr. Paulson realize he serves at the discretion of the people? Not at the discretion of elitist bankers whose predatory actions are destroying the people? Is this what you will for your government? It is your will that shall be done.
If you wish to become an informed citizen and impact future change, I would highly encourage you to listen to this interview with Greenberger in its entirety. The interview is repulsive, forthright, maddening and educational. It will enlighten you to the truth. And, that is a good thing. Because the mainstream media doesn't seem to care about reporting truth. News programming has become another opportunity for media corporations to enhance ad revenue. Talk about conflicts of interest. What advertiser wants to be associated with programming that reports the often unsavory truth? Greenberger, on the other hand, gives us a mega dose of honesty.
Here's the link to the interview titled 'Our Confusing Economy, Explained'
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