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Grayson to Geithner: What Rules Do We Need to Prevent the Taxpayer from Being on the Hook?

June 12, 2009 by  

Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • Keith The Coolest

    Thank Bill Clinton, Henry Cisneros, Andrew Cuomo, Robert Rubin, Chris Dodd, Barney Frank, George Bush, CitiGroup, AIG, Merill Lynch, Bear Stearns, Standard & Poors, Fitch, Allen Greenspan, Ben Bernanke, Countrywide, Fannie Mae, Freddie Mac, Angelo Mozilo, FOA – (fiends of Angelo) to name a few. The cause of this crisis 1) housing as an entitlement and loans for those who could never afford to pay it off(why not an apartment it was political, to get the votes & support) 2) Large number of “liar loans” (Loans that the lendor did not service, would never be paid off and subsequently pawned off to creditors) 3) Ratings Companies giving out Triple “A” rating like candy. 4) Companies highly leveraged 40 to 1. This basically was the perfect storm. Now our leadership is saying “Let us not let a good crisis go to waste”. When in all reality it was our leadership that got us in to this debacle (repeal of the Glass-Steagle Act). The sad part of it is “Nobody it going to jail”. Yet ~300,000,000 americans are getting ripped off and those not even born yet. Generational theft continues with the current incompetent administration and congress.” It all boils down to “Dispersion of Reponsibilty”. and yet they are like a bunch of “finger pointing children” attempting to place blame elsewhere. I say Man-up.

  • http://Soverenty!Freedom! Blondi 2

    When the Democrats cause the problem,how can they be the ones to investigate the problem.In 1995 Obama was a lawyer for Acorn,and Acorn and the unions marched in front of the banks to force them to give in.Barny Franks said up to two months before the fall,as did Chris Dodd that everything was fine.So when do people start to pay for their lies,and go to jail? Never! They are doing more and more behind the scenes right now and no one is stopping it.All the more reason to get all of them out of office! For an administration to constantly talk about transparency,I have never seen so much secret meetings,planted questions in the press core,and coverups for just one year than the last 5 presidents put together. If people don’t think there is something terribly wrong with this president and his chosen czars and administration then they are closing their eyes as well as their ears!Please Americans, wake up !!!!

  • crimminy

    I think he has a good grasp of how the mechanism works and he explained his reasoning pretty good. Now he says they’ll fix this with liquidity requirement limits to minimize risk.
    Didn’t they just lower the liquidity requirements risk factor, thereby raising the risk? Sounds good but will they really follow through so we do not have to repeat this again?

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