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GALBRAITH: ADMINISTRATION’S SOLE GOAL IS TO RESTORE SYSTEM OF 5 OR 10 YEARS AGO, BUT CONFIDENCE WON’T BE RESTORED UNLESS FRAUD IS PROSECUTED
As I have repeatedly written, the largest U.S. banks have repeatedly gone bankrupt due to wild speculation which was blessed by the Fed, and then the government covered up their bankruptcy.Indeed, the New York Times writes today about one of the too bi...
GALBRAITH: FED IS UNLAWFULLY WITHHOLDING INFORMATION FROM CONGRESS
The Federal Reserve is unlawfully withholding information from Congress.Says who?Says noted economist James Galbraith:To this day, Chairman Ben Bernanke has refused to disclose to Congress exactly who has received help under the many crisis measures an...
GALBRAITH: “THE STRATEGY …THAT YOU WOULD SUSTAIN THE BANKING SYSTEM IN ORDER THAT IT WOULD RESUME LENDING — HASN’T WORKED, AND IT ISN’T GOING TO WORK”
Economist James Galbraith told McClatchy:The strategy that was stated at the beginning of the year — which is that you would sustain the banking system in order that it would resume lending — hasn't worked, and it isn't going to work."Galbraith is ...
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