Surviving Capitalism (Not) : Is the New York Fed Too Deeply Conflicted to Regulate Wall Street?

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Monday, December 30, 2013

Is the New York Fed Too Deeply Conflicted to Regulate Wall Street?

Click here to access article by Pam Martens from Wall Street on Parade.

Although naive liberals like this author fail to understand the class nature of our government, they perform a valuable role in our understanding of how government functions because of their knowledge gained from actually working in key institutions and/or their academic study of these institutions.

New York bankers have historically have played key roles in our ruling class and its government. The roots are seen in the histories of key banking families: the Rockefellers, Morgans, and Warburgs who were related to the Rothchilds international banking family. (See also this and this.)