[poboys 94]

Originally Posted by dew22

On the one hand the author makes the case that if we only had regulation we'd be fine but then goes on to site as an example the real-estate market debacle, a situation largely influenced by the Govt. telling banks how to conduct business.

"The magnitude of the housing bubble is shocking and unprecedented. According to the Federal Reserves own figures, “The total amount of residential housing wealth in the US just about doubled between 1999 and 2006 up from $10.4 trillion to $20.4 trillion.”(Times Online) This tells us that the Fed had a clear idea of the size of the equity balloon their low interest policies were creating, but decided not to take corrective action. THE FEDERAL RESERVE IS NOT PART OF THE GOVERNMENT.

"Greenspan and THE PRIVATELY OWNED FED RESERVE played a major role in putting us in this mess by rubber-stamping the new system of precarious loans (no down payments, interest-only loans, ARMs) and perpetuating their “cheap money” policies. Greenspan admitted this a few months ago when he said that current housing increases were “unsustainable” and would have corrected long ago if not for the “the dramatic increase in the prevalence of interest-only loans…and more exotic forms of adjustable rate mortgages that enable marginally-qualified, highly leveraged borrowers to purchase homes at inflated prices.”
"Greenspan’s circuitous comments are tantamount to an admission of guilt. The fallout from the fed’s policies are bound to be widespread and devastating."
Ever since the US gov. turned over the nations ability to control it's own currency supply ( 1913) we have been slaves to the private bankers, so it goes a whole lot deeper and is more complicated then just being able to dismiss this crisis as simply "The govt. telling banks how to conduct business", OR it's the Right or the Lefts fault, even though the Gov. certainly is partially to blame for -
"Many of America’s fiscal troubles could have been mitigated by prudent management or judicious leadership, but that won’t change things now. The system is not in the control of the elected representatives and the deeply rooted problems are likely to persist until a calamitous event precipitates a fundamental change." I wish Kennedy was not killed so his plan to gradually do away with the Fed Reserve/private banking cartels could have been realized-
"President Kennedy pledged himself to what was the best for America and cared not how the greedy bankers of the Fed felt. JFK, like Lincoln in the 1860's, dared to have the U. S. Treasury issue U. S. Dollars, not Federal Reserve notes, and place them into circulation without paying interest to any bankers, just as spelled out in the U. S. Constitution.

This alarmed the owners of the Fed like a fifty point tremor on the Richter Scale. This must cease at once. The Fed bankers found themselves facing an intolerable situation, one which defied them and at the same time, one which they could not publicly complain without letting the cat out of the bag. Any complaint by the Fed would put it in a very bad light. The public would soon be aware of the gigantic scam the Fed has gotten away with since 1913. This scam allowed the Fed to avoid all income taxes and even audits."

Their response was evident at Dealy Plaza in Dallas."
Two President Who Died Defying the Rothschilds | 100777.com
The Fed Reserve is WHY an income tax was imposed on citizens in the first place, to pay off the damned interest owed to them by the Gov!
If Ron Paul were to be president and impose those same ideas, he very likely would have met the same fate.