Economy
In reply to the discussion: Weekend Economists Waiting for FDR July 13-15, 2012 [View all]mother earth
(6,002 posts)that, every American.
The info about Dimon/JP Morgan losses (thanks Manny) being protected ala taxpayer & FDIC protection needs a thread of its own.
I have to laugh, because every time I come here, I'm frequently saying this or that needs a thread of its own...like this group has not been informative enough, which couldn't be further from the truth.
The LIBOR scandal is the final nail in the coffin, to have the audacity of transferring funds that are "loss" bound into FDIC banks to be taxpayer "insured" is so in your face. How any administration can ignore this is beyond belief. Geithner knew in 2007 & the bail-outs proceeded...and yet no action by Holder.
Dr. Cornel West said it best this week...neither candidate has what it takes to lead us out of this crisis...Obama is the best choice, but he's not enough.