lazygood4nothinbum
Thinks s/he gets paid by the post
- Joined
- Feb 27, 2006
- Messages
- 3,895
woke-up mid-sleep, got out of bed and caught on tv a bill moyers interview with william greider late last night. wasn't familiar with the man before this. now plan to read his books and articles. very interesting guy. you can view the program or read the transcript here Bill Moyers Journal . Watch & Listen | PBS
(i'm not positive but this appears to be his travel page William Greider page )
greider referred in the interview to what he calls the fantasy that markets know best which has been fed to the american people by its government and which has led to usury whereby, as he put it, "wealthy people, whether they're banks or individuals,...use their power, their wealth to exploit people who don't have wealth..."
one thing he said that still bugs me this morning is what do american tax payers get in return for bailing out investment banks or the like of fannie & freddie? are fannie & freddie investors made whole scott free? should fannie & freddie become public institutions? and what of bearsterns, what did taxpayer get in return for saving them?
(i'm not positive but this appears to be his travel page William Greider page )
greider referred in the interview to what he calls the fantasy that markets know best which has been fed to the american people by its government and which has led to usury whereby, as he put it, "wealthy people, whether they're banks or individuals,...use their power, their wealth to exploit people who don't have wealth..."
one thing he said that still bugs me this morning is what do american tax payers get in return for bailing out investment banks or the like of fannie & freddie? are fannie & freddie investors made whole scott free? should fannie & freddie become public institutions? and what of bearsterns, what did taxpayer get in return for saving them?
WILLIAM GREIDER:
-it's a wildly grotesque transaction where the public guarantees the life of these firms, and there isn't any effort that we know of to say, "And in return, you're going to behave in the following ways for the next ten years or maybe forever. We'll pass a law later that spells that out more clearly, but this is our starting demand." And I suppose they would say, "Well, we don't have time to do that. This is a crisis, blah, blah, blah." I don't buy that. I think that's a way to avoid those questions is not even mention them.