Another Fed Agency with a fancy logo runs out of money for the first time ever.

[pangea]

http://www.themoneytimes.com/feature...d-1084578.html

And now the FHA needs more fiat fantastic.

Take a number.

-Pangea

[Master Shake]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

http://www.themoneytimes.com/feature...d-1084578.html

And now the FHA needs more fiat fantastic.

Take a number.

-Pangea

Don't be a nattering nabob of negativism! Everything is just peachy. Pay no attention to the man behind the curtain.

[Starving Steve]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

Isn't it interesting how fast the U.S. Federal Reserve Bank came to the rescue of Wall Street's big-shots, and how fast the Fed came to rescue of certain big banks? How is it that the Fed had no problem under Bernanke letting America's biggest bankers, the dumbest of the bunch who ran their banks into the ground, walk-off with tens of millions in executive bonuses, no questions asked?

Bernanke's T.A.R.P funding sailed-thru Congress, and without debate, over a weekend, and in an emergency session of Congress.

Yet to bail-out important Federal Reserve agencies which serve the public, the Fed has been slow, or maybe even unconcerned? The re-funding of vital agencies like FDIC, the SEC, FHA, etc. has been painfully slow, complicated, and maybe even postponed.

Let this expose of American cowboy capitalism be a lesson to the world: unregulated capitalism is unstable and corrupt, and it is controlled from the top by an oligarchy of capitalists. The system is very similar to communism, perhaps even worse.

[don]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

Isn't it interesting how fast the U.S. Federal Reserve Bank came to the rescue of Wall Street's big-shots, and how fast the Fed came to rescue of certain big banks? How is it that the Fed had no problem under Bernanke letting America's biggest bankers, the dumbest of the bunch who ran their banks into the ground, walk-off with tens of millions in executive bonuses, no questions asked?

Bernanke's T.A.R.P funding sailed-thru Congress, and without debate, over a weekend, and in an emergency session of Congress.

Yet to bail-out important Federal Reserve agencies which serve the public, the Fed has been slow, or maybe even unconcerned? The re-funding of vital agencies like FDIC, the SEC, FHA, etc. has been painfully slow, complicated, and maybe even postponed.

Let this expose of American cowboy capitalism be a lesson to the world: unregulated capitalism is unstable and corrupt, and it is controlled from the top by an oligarchy of capitalists. The system is very similar to communism, perhaps even worse.

It fits FIRE agenda to a T. (T for fiscal thermite) The Feds have been so completely captured by the FIRE oligarchy that's there's no disharmony in their actions and FIRE's desires- none of any consequence.

[pangea]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

• The FHA now backs 25% of all loans. Up from 2.7% in 2006!!!!

• 8% of FHA loans are now 90 days delinquent. Up from 5.4% last year.

http://www.cnsnews.com/news/article/54270

-Pangea

[drumminj]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

Let this expose of American cowboy capitalism be a lesson to the world: unregulated capitalism is unstable and corrupt, and it is controlled from the top by an oligarchy of capitalists. The system is very similar to communism, perhaps even worse.

It's funny I could tell who's rant this was without even seeing the name of the poster.

You think that anything that involves the Federal Reserve is "unregulated capitalism?" Seriously?

[medved]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

It's funny I could tell who's rant this was without even seeing the name of the poster.

You think that anything that involves the Federal Reserve is "unregulated capitalism?" Seriously?

Since the creation of the FED our financial system was moving away from the free market and towards the socialist dream of regulating everything that moves. The FED pushes avalanche of fiat money onto the overleveraged fractional reserve system. Obviously, this system becomes less stable by the year (and now by the minute), creates more ways to increase the leverage and requires more regulation.

The fact, that the liberals call our financial system “the free market” is natural, it is one of their ideological delusions. The real problem is, there are a lot of people in business, politics and academia that pose as “conservatives” and also support the ridiculous notion of the US financial system as a “free market”. In their case it is not the honest (but delusional) religious belief. Rather, they found a comfortable niche in this situation, and being “conservative” do their best to protect the status quo. This is the biggest problem.

[lurker]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

I think we should stop arguing about capitalist vs socialist.
I could live in an ideal capitalist or socialist society quite happily.

The problem we have is one of corruption, which is what happens in a capitalist OR socialist society when the rule of law is taken over by the powerful for their own purposes. It is an infestation of the top of society by sociopaths.

As soon as the sociopaths occupy most of the top slots capitalism or socialism end up looking mighty similar. Whether you call your oppressor the government, or a robber barron doesn't make much difference when you are the oppressed.

[rjwjr]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

I think we should stop arguing about capitalist vs socialist.
I could live in an ideal capitalist or socialist society quite happily.

The problem we have is one of corruption, which is what happens in a capitalist OR socialist society when the rule of law is taken over by the powerful for their own purposes. It is an infestation of the top of society by sociopaths.

As soon as the sociopaths occupy most of the top slots capitalism or socialism end up looking mighty similar. Whether you call your oppressor the government, or a robber barron doesn't make much difference when you are the oppressed.

Well stated and poignant remarks.

But, there's no way we ever stop arguing about capitalism vs socialism, republican vs democrat, or liberal vs conservative IMHO. It's a pleasant thought, however. It brings to mind this terrific diddy...

"Great minds discuss ideas. Average minds discuss events. Small minds discuss people."
-- Eleanor Roosevelt

[lurker]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

Unfortunately, arguing over liberal vs conservative, republican vs democrat is exactly what the oligarchs want. Divide and conquer. The oligarchs, through their media interests have managed to create a situation where liberals and conservatives are discouraged from finding any positions of mutual agreement, such as

- the no-strings-attached bailout of the large financial players (e.g. AIG payment to Goldman)
- that health insurance companies are slowly but surely paying out less and less of each premium dollar for healthcare
- that corporate financing of elections is a sure road to corporate fascism.
- the socialization of risk and privatization of profit that pervades all aspects of our "capitalist" system
- that all salaries over XXX should be paid via a trust fund to discourage senior executives from running a company into the ground for short term profit
- that as a society we need to stop punishing savers and rewarding those that have lived beyond their means
- that we need to close most foreign military bases and reduce military spending. And nation building absolutely, categorically does not work. EVER.
- that we can win hearts and minds around the world by exporting our knowledge, technology and culture much more effectively than by our military

I could go on, and I believe there is much room for bipartisan agreement, but, by and large this would not be in the interest of the oligarchs who are running the show.

[rjwjr]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

Unfortunately, arguing over liberal vs conservative, republican vs democrat is exactly what the oligarchs want. Divide and conquer. The oligarchs, through their media interests have managed to create a situation where liberals and conservatives are discouraged from finding any positions of mutual agreement, such as

- the no-strings-attached bailout of the large financial players (e.g. AIG payment to Goldman)
- that health insurance companies are slowly but surely paying out less and less of each premium dollar for healthcare
- that corporate financing of elections is a sure road to corporate fascism.
- the socialization of risk and privatization of profit that pervades all aspects of our "capitalist" system
- that all salaries over XXX should be paid via a trust fund to discourage senior executives from running a company into the ground for short term profit
- that as a society we need to stop punishing savers and rewarding those that have lived beyond their means
- that we need to close most foreign military bases and reduce military spending. And nation building absolutely, categorically does not work. EVER.
- that we can win hearts and minds around the world by exporting our knowledge, technology and culture much more effectively than by our military

I could go on, and I believe there is much room for bipartisan agreement, but, by and large this would not be in the interest of the oligarchs who are running the show.

So, why do you think those of us looking for the best solutions don't rally around someone like Ron Paul? Is Ron Paul the wrong guy? Are there simply not enough of us looking for the best solutions rather than partisan bickering? Is our election system actually rigged?

Why can't we get honest, capable leaders into positions of power?

[lurker]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

So, why do you think those of us looking for the best solutions don't rally around someone like Ron Paul? Is Ron Paul the wrong guy? Are there simply not enough of us looking for the best solutions rather than partisan bickering? Is our election system actually rigged?

Why can't we get honest, capable leaders into positions of power?

Because WE are not the masses, and the masses vote for whoever the media tell them to vote for. The media, and/or special interest groups (either on the left or right) assassinate any candidate who they do not want to win.

I must admit I personally find Ron Paul has too much libertarian baggage, and though I like the principle of libertarianism I think it's as unrealistic a practical system of running a society as Marxism.

I'd support Kucinich. I'd support a Kucinich/Paul ticket.

I also suspect most honest capable folk would rather gouge out their own eyeballs than go work in DC.

[rjwjr]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

Because WE are not the masses, and the masses vote for whoever the media tell them to vote for. The media, and/or special interest groups (either on the left or right) assassinate any candidate who they do not want to win.

I must admit I personally find Ron Paul has too much libertarian baggage, and though I like the principle of libertarianism I think it's as unrealistic a practical system of running a society as Marxism.

I'd support Kucinich. I'd support a Kucinich/Paul ticket.

I also suspect most honest capable folk would rather gouge out their own eyeballs than go work in DC.

I agree that Ron Paul has some liberterian baggage that I'm not in full agreement with either, but I also have a problem with Kucinich.

For example, he thinks we can save $800bil via a single payer health care system by taking the insurance company profits out of the system. You can't just take/steal $800bill of profits from an industry because you think it's unjust. It also didn't take a deep thinker to come up with that idea.

But that's not my point. My point is that maybe there is no candidate around which we can all rally. If you and I both want sensible leadership, but we have differing opinions/definitions of "sensible", then there is no rallying point. We need a starting point on which we can all agree...and I wish that starting point could be the Constitution, including fewer Federal powers and stronger States rights.

[dcarrigg]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

You can't just take/steal $800bill of profits from an industry because you think it's unjust.

Slavery.
Tennessee Valley Authority.
Amtrak.
Resolution Trust.
Airport Security.

Yes, you can.

[dcarrigg]

Re: Another Fed Agency with a fancy logo runs out of money for the first time ever.

And nation building absolutely, categorically does not work. EVER.

Marshall Plan.
Germany.
Japan.

Yes it does.