What should have happened, if our officials wanted to keep the nation a democracy, was to handle the economic crisis of 2008 was the same way we handled the S & L failures and collapse back in the 1980's.
Both Kucinich and Issa, who were the Chairmen of the House Oversight Committee on Financial Matters, suggested that that should be the way the crisis was handled.
In the late 1980's as a very necessary response to the S & L crisis, the Federal Government helped the states see to it that there were regionally chartered state banks in each area of the nation. And those chartered banks received monies from the Federal reserve and the government. Those monies were required to be loaned out to the people in those regions of the nation.
And those laws are still on the books. Much to the dismay of one Tim Geithner, who tried repeatedly to tell members of Congress that those laws didn't exist. (This is known as perjury, by the way, and it ought to have been enough to get Mr Geithner impeached. Lying to Congress is an impeachable crime!)
But this is anathema to the new style of Dems and Republicans who are now in office. Why set up a system that allows for a society in which only 8 cents out lof every dollar of profit created in the nation is captured by the Biggest Banks and the Biggest Financial Firms? That is such an old fashioned notion... Quaint, almost. Why not set the system up and skew it for the one Percent. After all, isn't it the One Percent that slave and toil so many long hard hours? Don't they deserve 49 cents out of every dollar of profit created in the country?
So dkf, continue to spread the information you spread. Depending on whether a person understands how a society ought to work, and how this oligarchy does work, the people here will either believe you or else believe Dennis Kucinich, and Pete DeFazio. I choose to stand with Dennis and Pete.
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