by the way Piezoe... Bernie has called total bullshit on you. remember what you said about the fed being fully audited... a few months ago... http://truthinmedia.com/bernie-sanders-calls-full-independent-audit-federal-reserve/ 2016 Democratic presidential candidate and U.S. Senator from Vermont Bernie Sanders wrote an op-ed for The New York Times on Wednesday calling for the Federal Reserve to be audited independently by the Government Accountability Office on an annual basis. Meanwhile, Senate Majority Leader Mitch McConnell (R-Ky.) has scheduled a historic Jan. 12 vote on a bill, colloquially referred to as “Audit the Fed,” which was introduced by Sen. Rand Paul (R-Ky.). The bill would authorize the GAO to perform full audits of the Federal Reserve System. “To rein in Wall Street, we should begin by reforming the Federal Reserve, which oversees financial institutions and which uses monetary policy to maintain price stability and full employment. Unfortunately, an institution that was created to serve all Americans has been hijacked by the very bankers it regulates,” wrote Sen. Sanders. He added, “What went wrong at the Fed? The chief executives of some of the largest banks in America are allowed to serve on its boards. During the Wall Street crisis of 2007, Jamie Dimon, the chief executive and chairman of JPMorgan Chase, served on the New York Fed’s board of directors while his bank received more than $390 billion in financial assistance from the Fed. Next year, four of the 12 presidents at the regional Federal Reserve Banks will be former executives from one firm: Goldman Sachs.” Sanders called for the Glass-Steagall Act to be reinstated, a Depression-era banking regulation that created a wall of separation between consumer and investment banks prior to its repeal by former President Bill Clinton. He also suggested that the Fed should be prevented from providing incentives to encourage banks to sit on cash reserves. “As a condition of receiving financial assistance from the Fed,” said Sanders, “large banks must commit to increasing lending to creditworthy small businesses and consumers, reducing credit card interest rates and fees, and providing help to underwater and struggling homeowners.” [RELATED: Rand Paul Challenges Bernie Sanders To Hour-Long Debate On Socialism vs. Capitalism] Sanders argued that the Federal Reserve suffers from a lack of transparency. “In 2010, I inserted an amendment in Dodd-Frank to audit the emergency lending by the Fed during the financial crisis. We need to go further and require the Government Accountability Office to conduct a full and independent audit of the Fed each and every year,” he said. Audit the Fed legislation first became a hot political topic as a result of the sudden, meteoric 2008 rise to popularity of libertarian icon and former Congressman Ron Paul (R-Texas), who made the push for Fed transparency a central focus of his entire political career.
What? So it is logical to spend $600B dollars a year on war machines, trillions of dollars bailing out banks with taxpayer money, trillions subsidizing the oil industry, billions more on bailing out the auto sector, but it's not logical to reroute some fraction of that on extending taxpayer paid Education and Universal Health Care? Amigo, it has nothing to do with logic. It has to do with who has more friends in Washington. If decisions on how to spend taxpayer money was based on logic, it would have been done long ago, as it has on scores of countries around the world.
Two wrongs don't make a right. You said one thing, now you're saying something different. Yes, the system favors Corporate socialism at the expense of public socialism. Which is bullshit. If you want socialism, that's your opinion and you're entitled to it. But Corporate Socialism is a cancer, and it doesn't follow we have public socialism out of 'fairness' because we bent over to Corporate AMerica.