House of cards

[basilio]

For those who are interested in why America is collapsing the following article/documentary looks like the goods.

Not a short read but well worth the education.

Greetings my friends,

Every once in a while I run across text, photo and video sources which I label "Must See" or "Must Read" on my blog at http://www.a1anews.com/.

What I've put together today is a "Must View" investigative piece from CNBC's David Faber which I would rate five stars *****.

..., it was with jaundiced eyes and ears that I sought out this CNBC piece by Faber called "House of Cards" which I had seen one minute snips and cuts of all over the Internet. It looked promising, I thought, but was Faber going to be a shill in the end for Wall Street like CNBC always seemed to be during the dotcom and Housing Bubble runs?

Well I'm here to tell you this is a very fine piece of reporting, well documented and balanced. Faber did not point his finger at any one person or institution which partook in the greatest Ponzi Scheme unleashed on our Economy. Instead, he simply interviewed the guilty (who agreed to be interviewed) and let them be hung on national TV by their own admissions.

What really takes my breath away while watching the summary of everyone we meet in this series is how many people who knew what was going on simply feel no guilt or remorse. The King Jackass of All is Alan Greenspan who brays at this series' end that he's still against regulations which hamper businesses, that his view of free market Capitalism with no overview (Ayn Rand's Objectivism) has brought millions of people out of poverty and has raised the living standards of Americans everywhere. That kind of bull**** analysis by "the Maestro" who ran the banking cartel's Federal Reserve just chaps my ass to no end. That Greenspan can't realize his artificial "Greenspan Puts" did more to damage our Economy than anything since the Great Depression simply makes me realize that the "best and brightest" minds which he touts as saviours of our economy are not smart enough or good enough to make sure this will not happen again.

Watching this entire documentary makes clear that unregulated Capitalism (let's call it what it really is a mixture of Unregulated Greed, Kleptrocracy, Oligarchy and Plutocracy which gives us Crony Capitalism) is every bit as bad for people as Totalitarianism Socialism/Communism for a world Economy.

http://rocktrueblood.blogspot.com/2009/02/cnbcs-house-of-cards.html

 

[GumbyLearner]

For those who are interested in why America is collapsing the following article/documentary looks like the goods.

Not a short read but well worth the education.




http://rocktrueblood.blogspot.com/2009/02/cnbcs-house-of-cards.html

Thanks for the thoughtful post Basilio.

In the absence of adequate self-regulation. Which most banks have prudently adhered to for centuries, whether well-capitalized or not!

Unfortunately, in the land of the blind the one eyed man is king.

Even though most don't see it or get it.

Again, great post.

Cheers
Gumby