If the Fed can secretly bail out big banks, the problem of “moral hazard” – bankers taking irresponsible risks because they know they’ll be rescued – is far greater than anyone assumed after Congress and the Bush and Obama administrations bailed out the banks. Big banks will always be too big to fail because they know the Fed will secretly back them up if they get into trouble, even if Congress won’t do it openly.
Read it 1,000 times on Mises.org, right? Well, this is Robert Reich writing at Common Dreams. “Join the movement for the greater good.”
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Surprisingly, the Washington Post has noticed that Obama’s speeches contain nothing but incoherent babbling and doublespeak. Even by Washington DC standards of lying and obfuscating he’s become an embarrassment.
Obama’s 17-minute, 2,500-word response to woman’s claim of being ‘over-taxed’
They should listen to his prepared speeches a bit more carefully. None of them contain any more logic or sense than his 17-minute off-the-cuff rambling.
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