Fractional banking is the scapegoat. A good beginning. And another congressman on board the monetary reform boat. He admits that they are supporting Wall Street rather than Main Street.
The electronic bank run is definitely worth watching – even though it doesn’t address the root causes of the money supply and its Cash and Credit components.
Talking about ‘bad assets’ is as wrong as talking about ‘taxpayers money’. Apologizing by not being ‘expert’ and ‘not knowing’ is rather weak and part of the “just doing my job” attitude…
2 responses so far ↓
euandus2 // November 5, 2009 at 11:17 pm |
I don’t think the reform being considered by Congress goes far enough because I don’t think they (and we) know the extent to which bankers will go to get their way. BTW, I recommend the following:
http://euandus3.wordpress.com/2009/11/05/advantage-banks/
Sabine McNeill // November 6, 2009 at 4:06 pm |
I agree. We are still naive enough to believe that “they” want solutions to the problems they are creating…