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View Diary: Ezra Klein is Right: NO COIN. (77 comments)

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  •  yasureyoubetcha! that's the recipe alright! And I (2+ / 0-)
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    claytonben, Odysseus

    didn't want to be the one to post one in yours, either.  But I can't even begin to fathom that serious people are talking about minting a coin, when waste and fraud and flat-out crime is all around us in the financial world and we can't even look directly at that at all? The Rule of Law has been fundamentally broken this new century in so many ways that anyone could go insane trying to fight just one of them.
         But I will start with two things: Let us have a reasonable transaction tax on every single vibration of the high frequency trading. If you had to do that by hand you couldn't, so if we can't make it illegal, make it taxed.            
       Then address MERS. This has been illegal from the get-go and they knew it then and they know it now. Any foreclosure or other transaction using this is suspect. Somebody ask Michael Lewis about this.
         

    MERS does not keep digital or hard copies of documents that formalize a loan’s change of beneficial ownership interest, which makes tracking fraud and errors through their record system extremely difficult.
        On beyond "difficult"- I should say it would be fraudulent.

    So Obama, if we can't prosecute the Bush administration for war crimes and profiteering, can we at least keep the paperwork straight?

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