Friday, July 3, 2009

Wrong Direction

Read the news on Obama's Financial Regulatory Reform lately? Have a look: news from Heritage, news from the Economic Populist, news from Washington Times, news from LA Times, news from Propaganda Matrix, ... We are going from bad to worse. From corruption-creating powerful to corruption-exploding powerful. From high risk to incomprehensible high risk. The Obama legislation is proposing (and in all likelihood will succeed in) to give even more power to the already most powerful institution in the US. Instead of diversifying, reducing risk, making policies simpler and control smaller and more local, the US policy makers are going in the opposite direction: giving unprecedented power to one single private company - the FED. A few private individuals (the ones that own the FED) will control even more of the economy and will turn their power into their financial gains. And the remaining population will pay for it. The middle class will disappear more rapidly.

And according to the BBC, the UK is following this example.

John Lennon had it right when he said: Power to the People - the citizens, the multitude, the common folks and away from the handful of super rich bankers.

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