From a real economist.
- “Failure” only means that corporate bondholders don’t get every penny
- The Federal Reserve’s purchases of Fannie Mae’s and Freddie Mac’s debt obligations were illegal
- Creating shell companies to buy Wall Street’s bad assets is not “discounting,” and was therefore also illegal
- The skewed distribution of wealth in the U.S. is worsened by policies that misallocate capital and divert public funds to bail out investments that have already gone bad.
kayjulia said:
The rich people and corporations have had their voice in government at all levels for as long as this country
has existed. The poor, working class, middle class have not had the same sway with the government policy
makers or law makers. To improve our lives this has to change.