So...there is maybe a REASON banks/brokers have been greasing political campaigns (just like all the 'green' energy companies)? I am shocked I tell ya.
Thank you, Quazi!
One reason why people like Ron Paul gets so irate is because the Fed Reserve has extraordinary powers that aren't really legal or illegal. It's a massive grey area of the Federal Government without a whole lot of oversight.
Government: You suck and are an absolute failure but despite that we are going to save you. The only problem, all your old contracts are null and void and you'll work under our conditions. You are free to refuse but then we will not step in. Sink or swim on your own.
Corzine was able to bet other people's money all without their knowledge. You want to put your money into this sort of markets?
My big question is...where's Anonymous now? Here's a nice, fresh new target for you....go get em.
"Half full or half empty doesn't matter. What matters is, you've only got half a glass...so what are you going to do about it?" - Me
MF Global’s Bankruptcy Trustee Set to Be Ex-FBI Director Freeh - Businessweek
I still fail to see the connection you draw between blatant securities fraud and the existence of a central bank. People seem to blur the lines between bailouts from the federal budget and "bailouts" from the Fed's printing presses. The former comes directly from taxpayer's pocket and the latter steals from the value of the dollar itself. They also fail to differentiate between expansion of the Fed's balance sheet with loans from the Term Auction Facility. The former is an expansion in the money supply itself while the latter contracts itself when the loans are repaid.
I should clarify that when I said free money I was referring to injections of capital (primarily through asset purchases). While you can definitely consider ZIR loans "free money" they should be differentiated from asset purchases.action taking provides virtually free money to large US banks.
You have any source for this? I googled around briefly and couldn't find any credible source showing the Fed dropped interest rates below zero.So the Fed gave them money for nothing and then paid them interest on it
"There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio