Marcy Kaptur Thumps Tim Geithner

A little grandstanding to inform the American people is sometimes appropriate. Marcy Kaptur is one tough character. President Kaptur? Haha. This interview video from yesterday is quite amusing and enlightening. Geithner must go.

I'm going to update this post with a few comments. Geithner remarks that Kaptur's innuendo is those involved in managing this crisis did not have the public interest at heart. Something he vehemently denies. Maybe Geithner is actually stupid enough to believe what he is saying but I want you to think about something. Geithner is completely wrong on this point. Keeping the banking system from collapsing is in the public interest. But, how is a private banking system, created through bribery of our government and opposed by our founding fathers, in the best interest of Americans? What has Geithner or Goldman Sachs done to help the underprivileged kid in East Los Angeles or Detroit or Kaptur's home town of Toledo? How does a private banking system help you achieve a self-determined life in a democracy? You personally? How does giving monopoly access to capital to a bunch of good old boys with the best connections help Americans lead a self-determined life?

Our banking system is based on fraud. I could care less about fractional reserve banking, ending the Federal Reserve, having a monetary system based on gold or any of the other ideological positions out there. A banking system could easily be created which doesn't deal with any of these issues but is indeed very sound. Actually better than a gold standard or a private banking system. The greatest fraud is a private banking system in a democracy. One that perpetuates racism and underprivilege when a handful of completely incompetent, well-connected bureaucrats become masters of the universe and do absolutely nothing to help further the concept of investing in our democracy. In our human capital. But instead have the effect of treating our human capital like dogs.

We need a public banking system. One managed substantially at the point of delivery. That is, the state and community level.