So do we let Goldman Sachs Run The World Then?

do you really think that any of these banks would have done all the risky lending if they didn't know the governments would bail them out if they were about to collapse?

do you?

I suggest you find the report on the Lehman Brothers bankruptcy and read it.

Geithner and the New York FED knew Lehman was lying on it's quarterly reports.

They ignored it..

Geithner's job as President of the New York FED was oversight of Wall Street.

The GOVERNMENT encouraged it...

The GOVERNMENT allowed it...

The GOVERNMENT bailed them out..

All that suggests is that the Bankers have too much influence over those in Government

The Bankers Run The Figureheads and The World

Lehman Brothers Holdings Inc. LEHMQ and its creditors late Thursday said they want to subpoena Treasury Secretary Timothy Geithner to question him under oath over allegations J.P. Morgan Chase & Co., (JPM) illegally siphoned billions of dollars from the collapsing investment bank in the days before it filed for the largest bankruptcy in U.S. history.

In a filing accompanying Lehman's filing, made in U.S. District Court in Washington, Lehman's official committee of unsecured creditors said Geithner has thus far refused to comply with an Aug. 9, 2011, subpoena, and it wants a court to force Geithner to give a deposition by a March 16 deadline.

"Despite being a crucial fact witness on these issues, Secretary Geithner has refused to appear at a deposition in accordance with a valid subpoena issued by the Committee," the committee's lawyers said in the filing. Geithner was president of the Federal Reserve Bank of New York at the time of the Lehman collapse.

The Treasury Department didn't immediately respond to a request for comment.

The committee said in its filing that it also wants to question then-Treasury Secretary Hank Paulson, but that he too has turned the request down. It said it will handle the Paulson matter separately.

Geithner, the committee said in its filing, had more than 35 phone conversations with then-Lehman Chief Executive Richard Fuld and more than 10 with J.P. Morgan Chief Executive Jamie Dimon in the week before Lehman's September 2008 bankruptcy filing.

Lawyers for Lehman subpoenaed Geithner as part of its civil lawsuit against J.P. Morgan claiming Dimon and other top executives used inside knowledge to take advantage of Lehman as its financial state worsened.

The weekend before Lehman's monumental bankruptcy filing, the Geithner-led New York Fed became the meeting place for Wall Street titans and Washington policy makers trying to sort things out.

"The Department of the Treasury now turns its back on the President's commitment to transparency as it refuses to provide the creditors of Lehman Brothers with key evidence from the current Secretary of the Treasury, Timothy F. Geithner, who was a crucial witness to certain key events at issue in the creditors' litigation with JPMorgan Chase Bank, N.A," the committee said in its court papers.

http://www.marketwatch.com/story/lehman-bros-subpoenas-geithner-in-jp-morgan-row-2012-02-16

What that suggests is that if you limit the power the government has the banks or any big business has no reason to lobby or expect favors..

no bank has the ability to dole out $700 billion to bail out anyone.

the government on the other hand..

Yep,since they do anyway,according to you!

Both Bush and Clinton. paved the way for the recklessness so we must first of all agree that it matters not what shade of politician is in charge.

I agree that the banks were on a winner to none with bailouts but the lobbyists arranged that with political whores.

Its not that Government have too much power...the problem is corrupt politicians and the power of money.

The Bankers were given free reign and f%%%ed up...try and reign them in and they threaten to collapse the economy ...

there would be no lobbyists or whores for them to exploit if government power was limited.

banks would not take absurd risks knowing there was no safety net..

there would have been no housing crisis or financial crisis had the government:

1. done their job on oversight

2. not guaranteed risky home loans through Fannie and Freddie

3. not expanded the size and scope of spending to the point where they were so overly reliant on the revenue generated through taxes on money made in the housing market.

Let us not forget the huge sums of tax revenue generated by all these shenanigans..

actually it's vice versa!
Banks exist by the Grace of Government!

http://www.cobdencentre.org/2011/11/regulating-towards-depression/

http://mises.org/daily/5749/Why-the-State-Demands-Control-of-Money

Now enter the Conspiracy-Opinionists!

"Conspiracy theories" are not theories, they are opinions (and I'm being generous in calling them that). A theory is an argument that accounts for all of the evidence - not some, not most, but all.

there is too much common sense applied in Austrian economics..

the world is a much more complicated place that needs a centralized government controlled economic policy...

hahahahahaha

Going round in circles here invi

The Regulations on Bankers were taken away and that is what caused the financial crisis.

Put Back the Regulations on Bankers and Bobs Your Uncle.

You have had your free run of trickle down economics but as it turned out the reverse happened.


Trickle Down became Vacuumed Up..

You can continue to ignore the reality.

You can keep regurgitating the leftist/big government talking points..

You are the one running around in circles because you have no real answers for my posts..

I am to the Left that is true

I am not for big Government as you are suggesting

Right now we have the biggest disparity of wealth the world has ever known. That has come about by Politicians being in bed with Bankers.

We have to change the sleeping arrangements .


Got to go now Invi...will get back in a couple of days.


Keep the faith...Power to the People

[urlhttp://www.youtube.com/watch?v=Wos-dDxpJlQ&feature=player_embedded

and you wonder why People laugh?