Depths of the Fed’s Bailouts Revealed

by Ryan on August 23, 2011

in Economy,Election 2008,History,Law,Media Bias,Politics,Stupid government

The scope of the Fed’s bailouts are revealed in this Bloomberg article from Sunday.  Be warned though, it elicits more nausea the longer you read it.

Essentially, the bailouts were considerably more far-reaching than we were told, and despite nearly three years of new regulation, legislation, inconsequential hearings, and litigation, the fundamental reasons for the 2008 economic collapse have not been truly addressed, meaning it could easily happen again.

Rather than thank the Almighty for Bernanke/Paulson’s quick action back then, I’m still stuck on the reckless abandon of moral hazard which got us into this mess.  The phrase “too big to fail” still bothers me because nothing in a free market should be that way.  It reminds me of how far down the corporatist/crony capitalist road we’ve gone and at what cost we can turn back.

If you’ve seen the Citizens United documentary Generation Zero, none of the Bloomberg revelations come as a big shock.  If you haven’t, you need to — it makes more sense out of the 2008 financial collapse than anything else I’ve seen.

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