Friday, January 18, 2013

be posting later, but here's a small bit about how things work at the FED....thank god for Texans.


  1. The key: "That's when Geithner, currently U.S. Treasury Secretary who at the time was vice chair of the Fed meeting, said: "I don't think, Richard, you need to be in a position to offer an opinion on what happened in Bear Stearns in particular.

    "I don't think you need to or want to be in the business of doing that in that particular case." (Reporting by Jonathan Spicer; Editing by James Dalgleish)"

    Dr. Pieczenik, you should read or listen to Dr. Bill Black on this guy Geithner. Black did the S&L crisis investigation that actually put perps in jail. Great 2011 interview with Bill Black to throw on your iPod:

  2. In my neighborhood in Austin in the 1980s we had a high number of bankers carted off to prison for fraud.

    The Savings and Loan and bank issues in the eightees were simply stupid cases of scores of banks started or hijacked by idiot crooks who committed flagrant acts of fraud of all kinds and got what was coming to them.

    The current situation is much more complicated and ambiguous. The kinds of fraud which happen on Wall Street are much more subtle forms of exaggeration and so forth and are not comparable to the idiotic frauds of clear malice and deceit which were perpetrated by banking crooks in the 1980s in places like Texas, Colorado, Georgia, etc...

    1. On the topic of Austin, Texas fraudsters and crooks LOOK TO LANCE ARMSTRONG FOR THE PERFECT EXAMPLE.

      That guy has more malice in him than anyone I've ever seen, and he just doesn't stop.

  3. @MITmichael,

    Listen to this one: