After doing a lot of link pruning (despite the fact that many fine blogs are blocked at my primary workplace) I think I have finally rounded up an excellent group of information sources whose authors seem to really “get it”.  If you just run through the latest post from each of these a sort of “big picture” forms, and the trend here lately seems to be an analysis of Obama’s so called regulatory reform.

We’ve already talked about the fact that it is Summers and Geithner, Capital Hill’s most notorious agents of Wall Street, who have crafted this “reform”, which immediately dismisses all credibility that the plan is a reform at all, but at the risk of kicking the rotting corpse of a dead horse yet again, I can’t resist bashing Geithner just one more time with this quote from Tiny Tim while at the NY Fed during the Greenspan era:

And Geithner, at least back then, echoed Greenspan’s belief that regulators shouldn’t try to stop bubbles from forming. In the same speech, the then-chief executive of the Federal Reserve Bank of New York also said, “We cannot identify the likely sources of future stress to the system and act preemptively to diffuse them.”

We have a guy here who’s in charge of formulating ways to spot systemic risk, who has basically admitted there’s no way to do that, during the same time that the FBI dropped a report in his lap citing an underwriting “fraud epidemic” in the securitization industry–to which he simply looked the other way. Enough said.

I think Steven Lendman hit the nail on the head right here, quoting Michael Hudson:

–supposed reforms promote “Wall Street’s ‘product,’ debt creation, at the expense of the economy at large, and lets financial chieftains continue to self-regulate the debt industry – and by the way, to keep all their gains from the past decade’s worth of fraudulent lending, scot-free….(Obama) achieved what no Republican could have: rescuing the Bush administration’s pro-creditor policies that fostered the Bubble Economy in the first place.”

If it’s largely accepted as is, Wall Street will get precisely what it wants – a veneer of regulatory cover to keep wrecking the economy and stealing the public blind. 

Most of letthemfail’s community of bloggers agree that the new regulations, like the stress tests, are a sham. But “debt creation” isn’t a Wall St. product exclusively–they are just one of the purveyors of it here in America. It helps to understand what the Federal Reserve really is, and who it’s allegiance is to (which the rest of Lendmands post covers).

Wall Street is merely a betting casino that gauges the confidence of investors. It will never be “regulated” by the Federal Reserve, but it will receive it’s marching orders from the privately owned bank–which is part of a global cartel of privately owned reserve banks, specifically created to control governments by issuing their currencies.

These global reserve banks get their marching orders from the Bank for International Settlements, the IMF and World Bank, who have gained control over the world’s economy by plundering it into a planned global economic crisis, which is the staging ground to prepare for a new world order under the political doctrine of FASCISM.

Obama signed off on the plan when he conceded our natonal sovereignty at the G20 summit.

All paths lead to this conclusion, and the one person who articulates it best of all is Ellen Brown, especially in her last post: http://www.webofdebt.com/articles/big_brother_basel.php

We should put her in charge of the FED, the FDIC and the SEC. But it’s too late for that now. The only thing left to do now is to TAKE ACTION.

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