FED RESERVE SWAT TEAMS TO NOW "POLICE" THE ECONOMY? *PIC* (STA BREAKING NEWS and ARCHIVES)
This was just posted at www.lemetropolecafe.com
It is almost beyond belief that Congress would allow the creators of the source of most of the country's woes to now possess this level of control and power.
The Republic is truly lost...
PPT to come out of the Closet
This is an astonishing read.
WASHINGTON - The Treasury Department will propose on Monday that Congress give the Federal Reserve broad new authority to oversee financial market stability, in effect allowing it to send SWAT teams into any corner of the industry or any institution that might pose a risk to the overall system.
I would like to think that this is some sort of sick April Fools joke, but, alas they are serious! What happened to free markets?? This is the same blue-print as the now failed Bush Administration Preemptive Strike Foreign Policy. The notion that the "financial SWAT team" goons will muscle their way into the private dealings of an institution that THEY think poses a risk to THEIR fraudulent fiat money Ponzi scheme is frightening. Presumably fund managers will be secretly flown to detention centers where "water-boarding" will be allowed to extract critical information like where they are hiding their gold!
What about this little gem…
Under the Treasury proposal, Fed officials would be allowed to examine the practices and even the internal bookkeeping of brokerage firms, hedge funds, commodity-trading exchanges and any other institution that might pose a risk to the overall financial system.
What a peach! The FED SWAT team can raid any institution, hedge fund, exchange, and see what key investment positions are and then pass it along to Goldman Sachs who can then make a fortune trading against them as they did with the position data they had confidential access to during the LTCM bail out!!
If you think I am a little over the top consider this…
While the plan could expose Wall Street investment banks and hedge funds to greater scrutiny, it carefully avoids a call for tighter regulation.
So why would they want to have more scrutiny if they are not going to have tighter rules???? Hey, don't pay any attention to the guys with the night vision goggles wandering around your office they just want to have a closer look at your financial dealings.
Is this designed to fix any problems for Joe and Jane America? Nope!...
The blueprint also suggests several areas where the S.E.C. should take a lighter approach to its oversight. Among them are allowing stock exchanges greater leeway to regulate themselves and streamlining the approval of new products, even allowing automatic approval of securities products that are being traded in foreign markets.
Oh! You mean like the self regulation of the mortgage industry that allowed mortgages for anyone with a pulse and the self regulation of the rating agencies that allowed a triple A rating for any re-packaged debt originated by someone with a pulse! And the re-packaged garbage instrument can be automatically approved as long as it is for export to some unsuspecting investor with a pulse overseas! That should help.
Here is the real killer quote from general Paulson
"I am not suggesting that more regulation is the answer, or even that more effective regulation can prevent the periods of financial market stress that seem to occur every 5 to 10 years," Mr. Paulson will say in a speech on Monday, according to a draft of the speech. "I am suggesting that we should and can have a structure that is designed for the world we live in, one that is more flexible."
A system that is flexible enough to allow the elite white collar thugs to break the law with impunity and the little guy to go to prison if he does the same thing is what Herr Uberfuhrer Paulson really means.
What better time could there be for GATA's conference in Washington?
- FED RESERVE SWAT TEAMS TO NOW "POLICE" THE ECONOMY? *PIC* - Il_Bagattel, 2008-03-29, 06:56 (STA BREAKING NEWS and ARCHIVES)