The Conflict Of Interest between the Federal Reserve Bank and the bailed out Too Big To Fail banks has just been unveiled by a report Congress just released. This audit clearly shows that now it's time to say "Enough, is enough!"
Dylan Ratigan goes into a newly released Fed Audit report showing 18 members of the Federal Reserve Board are/were members of the Too Big To Fail Banks and voted themselves bailouts when the financial crisis hit. Seven of these board members were once the heads of the banks they voted to bailout. Dylan asks, "This is the first audit ever of the controversial and un-orthodox tools that the Fed used during the financial crisis to cover up the banks' problems and perpetuate a Too Big To Fail system with a dark casino based swaps market. Why should we care?"
He answers the question himself, "Because the group of people doing this are appointed, unelected, elite, platinum citizens who are exploiting our nation's economy and our nation's currency to preserve their own interests - mind you - unchecked, when it comes to power . . . "
Showing posts with label Dylan Ratigan. Show all posts
Showing posts with label Dylan Ratigan. Show all posts
20 October 2011
25 June 2011
Dylan Ratigan: "Why Are Our Politicians So Desperate To Perpetually Protect The Banks . . . ?" Interview With David Stockman
David Stockman, former Budget Director for Ronald Reagan, says he believes Ben Bernanke is finished, done. He says we need to address the disastrous problems in the banking system, not print more money which has only enriched Wall Street and encouraged massive speculation in commodities, derivatives, etc.
Stockman says it was an Urban Legend that Wall Street's problems in 2008 could have resulted in a Great Depression should the bailout have never happened. He also says the thing to have done would have been to allow the banks to sort out their own problems and restructure after certain of them failed.
Possibly the most contentious example which Stockman describes was what should have happened to GE. Stockman says the blame for GE almost going under rests on the shoulders of CEO Jeff Immelt. Instead of a bailout by the government for GE Capital, Stockman says GE should have been allowed to force their shareholders to take a massive hit, that GE should have gone back to the markets with secondary offerings for their errant behaviour in investing in massive derivative schemes to boost profits.
Stockman says it was an Urban Legend that Wall Street's problems in 2008 could have resulted in a Great Depression should the bailout have never happened. He also says the thing to have done would have been to allow the banks to sort out their own problems and restructure after certain of them failed.
Possibly the most contentious example which Stockman describes was what should have happened to GE. Stockman says the blame for GE almost going under rests on the shoulders of CEO Jeff Immelt. Instead of a bailout by the government for GE Capital, Stockman says GE should have been allowed to force their shareholders to take a massive hit, that GE should have gone back to the markets with secondary offerings for their errant behaviour in investing in massive derivative schemes to boost profits.
16 June 2011
Jim Rogers On Dylan Ratigan's Show - June 16, 2011
Jim Rogers warns the next Recession will be worse if we don't write down our debt.
21 December 2010
David Stockman Tells Dylan Ratigan What The Biggest Fiscal Mistake In US History Is
David Stockman, former Director of OMB during Ronald Reagan's administration, and Dylan Ratigan discuss the Tax Cut deal between Republicans and Democrats. Stockman calls the Bush Tax Cuts "the biggest fiscal mistake in history."
As Ratigan points out in the segment's beginning, the defecit has been a problem for the better part of 30 years. In 1981, under Ronald Reagan, our debt was 32% of our GDP. When Reagan left office, our debt/GDP ratio had grown to 52%.
Today, our debt is 94% of our GDP.
Ratigan and Stockman talk candidly about the reasons we are in this sad state of burgeoning debt and shrinking revenues.
And toward the end of this interview, Stockman let's loose with this:
"In January 2000, there were 72 million middle class jobs . . . manufacturing, construction, finance, insurance, real estate, the professions, transportation, distribution and so forth. Today, a decade later, there are only 65 million (middle class jobs). We've lost 10% of our middle class family supporting jobs, and we've only created temporary, part-time jobs, so there's been no real growth. What we've had instead is a Fed engineered serial bubble that's created the appearance of wealth, that has caused people to consume beyond their means through borrowing and that has flushed the income and the wealth of our society up to the top as a result of the Fed turning the financial markets into a casino.
These are pure casinos. They are NOT capital markets. They are not adding to the productive capacity of our Economy. They are simply a bunch of robots trading with each other by the millisecond as a result of the Fed giving them Zero Cost overnight money and giving them all kinds of hand signals on what to front run.
This is a very bad mess and we're not going to get our Economy solved until we get a totally new policy at the Fed and a clean up of this whole casino that used to be called Wall Street."
As Ratigan points out in the segment's beginning, the defecit has been a problem for the better part of 30 years. In 1981, under Ronald Reagan, our debt was 32% of our GDP. When Reagan left office, our debt/GDP ratio had grown to 52%.
Today, our debt is 94% of our GDP.
Ratigan and Stockman talk candidly about the reasons we are in this sad state of burgeoning debt and shrinking revenues.
As Stockman so succinctly says, "We are destroying the Economy on Uncle Sam's credit card. And the idea that (the extended Bush Tax Cuts) this will cause consumers to spend for some more junk from Home Depot that's going to be made in China . . . to me . . . doesn't make any sense at all."
And toward the end of this interview, Stockman let's loose with this:
"In January 2000, there were 72 million middle class jobs . . . manufacturing, construction, finance, insurance, real estate, the professions, transportation, distribution and so forth. Today, a decade later, there are only 65 million (middle class jobs). We've lost 10% of our middle class family supporting jobs, and we've only created temporary, part-time jobs, so there's been no real growth. What we've had instead is a Fed engineered serial bubble that's created the appearance of wealth, that has caused people to consume beyond their means through borrowing and that has flushed the income and the wealth of our society up to the top as a result of the Fed turning the financial markets into a casino.
These are pure casinos. They are NOT capital markets. They are not adding to the productive capacity of our Economy. They are simply a bunch of robots trading with each other by the millisecond as a result of the Fed giving them Zero Cost overnight money and giving them all kinds of hand signals on what to front run.
This is a very bad mess and we're not going to get our Economy solved until we get a totally new policy at the Fed and a clean up of this whole casino that used to be called Wall Street."
17 August 2010
Business/Economic/Housing/Layoff News for August 18, 2010
Stocks rise on earnings, economic reports
Interest Rates Can Rise If Home Prices Fall
Meet Dylan Ratigan, That Guy on MSNBC Who Can Talk a Mean Streak About the Scam Artists on Wall St.
Regional Reports: Home Sales Fell Sharply In July
Single Family Housing Starts decline in July
Foreclosures nationwide jump 12,000 from June to July
Glenn Beck says he is ashamed to call 99ers American
10 Signs the US is becoming a 3rd World Country
Interest Rates Can Rise If Home Prices Fall
Meet Dylan Ratigan, That Guy on MSNBC Who Can Talk a Mean Streak About the Scam Artists on Wall St.
Regional Reports: Home Sales Fell Sharply In July
Single Family Housing Starts decline in July
Foreclosures nationwide jump 12,000 from June to July
Glenn Beck says he is ashamed to call 99ers American
10 Signs the US is becoming a 3rd World Country
01 July 2010
MSNBC's Dylan Ratigan: Need For An Alternative Investment Structure Instead of the Corrupt Stock Market
"Seventy percent of the volume [of trades on the stock market] is computers that are run by the banks playing ping pong with stocks for 10 seconds at at time," Ratigan said.
"The stock market at this point, which used to be a reflection of the future value of actual businesses in this country, has been turned by our government and our banks into little more than a paper shredding facility [about which] we can make up reasons why it goes up and down, but when the computers at the banks are controlling the action, most everything else is kind of silly."
"The stock market at this point, which used to be a reflection of the future value of actual businesses in this country, has been turned by our government and our banks into little more than a paper shredding facility [about which] we can make up reasons why it goes up and down, but when the computers at the banks are controlling the action, most everything else is kind of silly."
12 January 2010
Dylan Ratigan: Grand Theft Geithner
"A crime has been committed against America and its taxpayers. And right now, you sir, Tim Geithner, are standing at the door of the crime scene refusing to allow anybody in to even see any of the evidence. Show us you are not involved, Mr. Geithner. Prove the White House correct in defending you. All we're asking for is the transperency promised by the President you serve."
-Dylan Ratigan's closing words from a broadcast yesterday on why AIG emails should be made public
-Dylan Ratigan's closing words from a broadcast yesterday on why AIG emails should be made public
11 November 2009
Two Views In The Healthcare Debate: CNBC's Dylan Ratigan vs. Chamber of Commerce's James Gelfand + One Bonus Ratigan Video
Ratigan points out We the People are being left out of the current health care debate. We are haggling over values systems (abortion) to hide who is really benefitting from the current Health Insurance monopoly in this country. Lower quality, higher premiums and Ratigan asks, "Do you think your employer really cares as much about your health as you? You should be the "decider" of what type of health care you will need over your life, not the government, not the Insurance Company."
Ratigan also shows Auto Insurance commercials pitting All State vs. Geico vs. Progressive and wonders why we the citizens who can pick among competing car insurers cannot pick among competing health insurers which would drive down prices, and jack up quality? Good questions, Dylan.
Finally, I love how Dylan reframes the debate by saying, "Tell Congress healthcare shouldn't be a collective decision made by Corporate Communitsts or the National Government." Keep fighting the fight, Mr. Ratigan.
On the other hand is James Gelfand of the U.S. Chamber of Commerce who says people are afraid health care costs will go up under the Democrats healthcare plan.
Liz Clayman doesn't want to eat out of Gelfand's hand. She points out that private health insurance costs have jumped over 74% in the past eight years for small businesses. She rhetorically asks, "This is an outrage, is it not?"
Clayman then asks this corporate flack for his solution to this problem. "Well, actually it should be pretty simple. It shouldn't cost us a trillion dollars, we shouldn't have to raise taxes by $600 Billion, we shouldn't have to slash Medicare by another $500 Billion," and then he suggests we get costs under control (the same thing the Democrats have been seeking to do since the 90s), and that we do this with tort reform, regulate the Insurance companies (did he really say "no more turning people away"?), but then this blow light says there are really only 10 million people in this country who don't have health insurance. That tells me right there this shill, this sellout, is no more than a squawking parrot of people who've got free health insurance as part of their employment package (like Congressmen and Banksters and Corporate Execs), while not having any idea how many people driving taxis, digging ditches, working in bars, hotels, and convenience store have absolutely zilch health care insurance because they cannot afford the payments.
What David Lareah was for the National Realtors Association in its run up through the Housing Bubble (chief Kool-Aid dipper), so to is James Gelfand to the U.S. Chamber of Commerce. Except whereas Lareah blew happy smoke up consumers' asses, Gelfand is trying to drive spikes of fear into consumers' minds and hearts.
Ratigan talks more sense than Gelfand, no question about it.
Bonus - MSNBC's Ratigan Calls out Guest for Lying: Coming on Television and Lying is Not Journalism
Ratigan also shows Auto Insurance commercials pitting All State vs. Geico vs. Progressive and wonders why we the citizens who can pick among competing car insurers cannot pick among competing health insurers which would drive down prices, and jack up quality? Good questions, Dylan.
Finally, I love how Dylan reframes the debate by saying, "Tell Congress healthcare shouldn't be a collective decision made by Corporate Communitsts or the National Government." Keep fighting the fight, Mr. Ratigan.
On the other hand is James Gelfand of the U.S. Chamber of Commerce who says people are afraid health care costs will go up under the Democrats healthcare plan.
Liz Clayman doesn't want to eat out of Gelfand's hand. She points out that private health insurance costs have jumped over 74% in the past eight years for small businesses. She rhetorically asks, "This is an outrage, is it not?"
Clayman then asks this corporate flack for his solution to this problem. "Well, actually it should be pretty simple. It shouldn't cost us a trillion dollars, we shouldn't have to raise taxes by $600 Billion, we shouldn't have to slash Medicare by another $500 Billion," and then he suggests we get costs under control (the same thing the Democrats have been seeking to do since the 90s), and that we do this with tort reform, regulate the Insurance companies (did he really say "no more turning people away"?), but then this blow light says there are really only 10 million people in this country who don't have health insurance. That tells me right there this shill, this sellout, is no more than a squawking parrot of people who've got free health insurance as part of their employment package (like Congressmen and Banksters and Corporate Execs), while not having any idea how many people driving taxis, digging ditches, working in bars, hotels, and convenience store have absolutely zilch health care insurance because they cannot afford the payments.
What David Lareah was for the National Realtors Association in its run up through the Housing Bubble (chief Kool-Aid dipper), so to is James Gelfand to the U.S. Chamber of Commerce. Except whereas Lareah blew happy smoke up consumers' asses, Gelfand is trying to drive spikes of fear into consumers' minds and hearts.
Ratigan talks more sense than Gelfand, no question about it.
Bonus - MSNBC's Ratigan Calls out Guest for Lying: Coming on Television and Lying is Not Journalism
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