Congress was prepared to strip the Fed of some of its authority three years ago due to its abysmal failure to do anything about subprime abuses, even in the face of rising defaults, media coverage of fraud, and pressure from Capitol Hill. Now Dodd is prepared to reward the Fed for the very same conduct he roundly criticized three years ago. We can only assume he has already started serving his post-Congressional constituency. [Looking forward to a plush bankster appointment?]
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Tuesday, March 2, 2010
Banksters Win Yet Again: Dodd Proposes Putting Consumer Protection Agency at the Fed
by Yves Smith from her blog, Naked Capitalism.