and how politifact is stating this is a revolving door situation. In fact,those experts say that some 4.7 trillions of dollars have never been repaid, and never will be repaid.
Politifact and its standing by the policies of RICO-guilty but never indicted Tim Geithner has set us up for this faux economy. And in this economy, Wall Street is doing spectacularly, even as the economy as a whole is being set up for yet another economic collapse.
And in setting us up for this, we are being told that "no one is at fault. That it's just that the nation is heading into uncharted economic territory wherein bank busts and bailout needs are normal, rather than once in a century events."
In other words, a nation does not "magically" arrive at having "new and uncharted territory" crop up. This is like a parent having a teenage kid and buying them the crack cocaine and then saying, "How can I help this situation?!? It is all new and uncharted territory for me as a parent!"
So with our nation being like that destructive crack-buying parent, or like a farmer who lets the foxes rule the hen house, we do see "uncharted territories and uncharted economic waters.) But that is the deliberate set up. For consider this, very importantly, between the late 1930's and the tail end of Clinton's Presidency, we have never before allowed our Rulers to enslave us by keeping the Glass Steagall style provisions off the books.
Ha d anyone in the USA, preferably the newly elected President, one Barack Obama, listened to Issa or Kucinuch as they addressed Paulson back in Fall of 2008, we could have, as nation followed the exact same procedures for restoring the economy as were followed by Congress and the President back at the time of the Savings and Loan fiasco. Those laws were in fact, still on the books.
But instead, Barack Obama colluded with Wall Street. He allowed Tim Geithner to take charge of everything, and Geithner pushed for two very destructive items:
One) Not to re-instate Glass Steagal, and
Two) To go head and Bailout the banks. And he deliberately did the Bailouts without any advantages to those providing the Bailout monies. Did you know that when this happened in Ireland, the government saw to it that the banks accepted that the under water mortgages would be secured by the Bailouts. But of course, over in Ireland, the government is afraid of its citizens, while here the citizenry is afraid of the government.
How do we know that a different matter of dealing with the crisis would work? Because the very independent minded, democracy lovers of Iceland have followed a different path and things are working out okay for them
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