Having a business monitor it's own dealings is like having a feudal lord monitoring his own peasant farmers. Or as Senator Bernie Sanders calls it, "The Fox Guarding The Henhouse"
The government investigates trading on non-public information -- unless members of Congress are doing it.
A glimpse into the past...
Daily Show Video Clip - March 17 2009 - Congress Is Outraged (after their constituents call them)...
In a backlash to the AIG bailout, Congress opens a can of dumbass and looks for someone to blame (they only ask for names!)
This is the kind of help we can expect from Congress...
"Because of our inability to regulate financial markets, we have no idea who has the credit default swaps"...
Approx 1 minute into daily show video above - Goldman Sacks uses a monetary device called a 'currency swap' and another 'credit default swaps'. A financial mess created by elite business men in the United States which is not regulated and therefore there is no transparency or accountability.[Dealing with this problem earlier would not have created the need for radical solutions in such a short period of time, such as raising the retirement age etc.]
Context: America's Next TARP Model
A Bloomberg report reveals that the U.S. government loaned banks $7.7 trillion in secret bailout funds at no interest and then borrowed the money back at interest.
'Basically the banks were being lent money at no interest (by the government) and then the government was borrowing it back and giving interest!' What a sweet deal!... Why is the US so low on the corruption charts? Who makes these charts? [A Bloomberg report [ http://www.bloomberg.com/
Post a Comment