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DJ Pangburn It’s been rather quiet on the Ron Paul front, but the presidential candidate recently questioned Federal Reserve Chairmen Ben Bernanke on monetary policy, one of the Libertarian’s favorite themes. While Paul’s quest to end the Fed, or to at least increase its transparency, may seem to be a losing battle to many observers, he’s certainly educated the public on the Fed’s culpability in encouraging reckless banking and investment [...] Despite his populist posturing, the president has failed to pin a single top finance exec on criminal charges since the economic collapse. Are the banks too big to jail—or is Washington’s revolving door at to blame? Peter J. Boyer and Peter Schweizer investigate: Obama’s 2009 White House summit with finance titans, in which the president warned that only he was standing “between you and the pitchforks” Why, despite widespread outrage, financial-fraud prosecutions [...]
Bank Transfer Day on November 5 and the earlier Move Your Money movement have succeeded in inspiring millions of fed-up consumers to dump their mega-bank accounts and take their business to locally owned community banks and credit unions. But the truth of the matter is, their actions won’t make much difference in the grand scheme of things: any financial institution that makes loans is contributing to the gigantic Ponzi scheme [...] The first votes of the 2012 presidential campaign will be cast on the third day of the new year, according to a schedule announced Monday evening by the Iowa Republican Party. State GOP Chair Matt Strawn made his proposed Jan. 3 date for the Iowa caucuses official — in a statement that lamented the compressed campaign schedule and urged that the voting not be moved up any further. Iowans will begin the [...] Remember S&P had investment grade, AAA, ratings on countless mortgage-backed securities right up until the moment the paper became worthless. — Peter Schiff on the S&P’s “too late semi-downgrade of U.S. sovereign debt.” In the first place, the S&P announcement only portrays a one in three chance that the U.S. would lose its AAA rating, reserving an opportunity later to move down to a one in two [...] David Buik, partner at broker BGC ‘It took Greenspan until the 24th October 2008 to admit to any culpability over the banking crisis. I have no idea if he was in denial or just arrogance personified. ‘Certainly manners have never been high on the good doctor’s agenda. He should have remembered that when Paul Volcker, his predecessor, left the Fed, he made no comment on monetary policy until he was appointed as [...] |
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