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alstry (35.36)

Is It Just One Big Ponzi Scheme???

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November 15, 2009 – Comments (4)

The Federal Reserve — the quasi-autonomous body that controls the US’s money supply — is a “Ponzi scheme” that created “bubble after bubble” in the US economy and needs to be held accountable for its actions, says Eliot Spitzer, the former governor and attorney-general of New York.

In a wide-ranging discussion of the bank bailouts on MSNBC’s Morning Meeting, host Dylan Ratigan described the process by which the Federal Reserve exchanged $13.9 trillion of bad bank debt for cash that it gave to the struggling banks.

Spitzer — who built a reputation as “the Sheriff of Wall Street” for his zealous prosecutions of corporate crime as New York’s attorney-general and then resigned as the state’s governor over revelations he had paid for prostitutes — seemed to agree with Ratigan that the bank bailout amounts to “America’s greatest theft and cover-up ever.”

SORTA SUCKS WHEN THE CITIZENS OF THE U.S. ARE THE CLIENTS OF BERNIE MADOFF AND THEY ARE BEING FORCED TO BAIL OUT BERNIE AFTER FINDING OUT THERE IS NO MO MONEY

4 Comments – Post Your Own

#1) On November 15, 2009 at 10:12 PM, alstry (35.36) wrote:

As the ponzi scheme gets revealed, our cities, counties, states, schools and universities will start shutting down.

Flagstaff Unified School District, - Ready to Make Cuts

Update: City of Elyria - Layoff Notices Monday

Mesa County - Layoffs Likely in 2010

Erie County - 20 Position Possibly Cut

Oklahoma Board of Mental Health and Substance Abuse Services - 100 Layoffs

Cascade Steel Rolling Mills - 30

Durand Board of Education - 24 Layoffs For Cooks, Custodians 

Seaview Resort & Spa - < 10

ConAgra Foods plant in Garner - Layoffs

Update: Wausau School District - Job Cuts Coming Soon

Clark County - 20

City of Glens Falls - 10 Total

The Maple Valley Fire Department - Layoffs Coming?

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#2) On November 15, 2009 at 10:56 PM, kirkydu (93.60) wrote:

but Al, if they just keep printing money, won't we all just wake up and it'll be ok, like the morning after having a 24 hour flu?  Please Al, tell me we don't have another decade of crap coming.  Please tell me it'll be ok Al, because I've convinced myself things won't even start looking up for more than these dangerous short term cycles until late in the soon to begin decade.

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#3) On November 16, 2009 at 9:22 AM, drgroup (69.25) wrote:

Let'um shut down. The sooner this country turns into the third world crap hole that the white house wants, the sooner the brain deads will wake up screaming for the hand outs and find none. Maybe then this country will shift back to the capitalist system that made us the most prosperous society ever to exist.

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#4) On November 16, 2009 at 1:35 PM, jesusfreakinco (28.88) wrote:

Too bad Spitzer couldn't keep his weewee in his pants.  His affair(s) really blew his credibility and a voice standing up to Wall St was silenced.  He is one guy how has shown some ability to uncover corruption without getting taken out by the mafia.

Too bad...

JFC

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