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Originally Posted by Rhuobhe  The fact of the matter is that this country and hopefully the rest of the world at some point in history needs to have monetary reform. the federal reserve act was a huge mistake. money is controlled by a few men behind closed doors and the money changers will continue to ride this nation and the rest of the world for their interests. there is very little accountability. if this big bail out is approved do you think this money is going to be audited and be kept track off? who knows where it will be going. this is fort knox 2.0 |
The Fed isn't the issue.
The issue is that both parties have passed legislation that encourages bankers to take on risk (look up moral hazard). This crisis is nothing but the Savings and Loan Crisis 2.0. Until we find a way to either stop insulating bankers against losses (which might be a bit scary) or make sure they are following standards (i.e. limited subprime lending) or stop bailing them out, we'll see this again in our lifetimes.
If you guys need a scapegoat, blame both parties starting with the Carter administration. They keep sidestepping the core problem.
