Americans' trust in government and its institutions has plummeted to a near-historic low, according to a sobering new survey by the Pew Research Center.
Only 22 percent of Americans surveyed by Pew say they can trust government in Washington "almost always or most of the time" -- among the lowest measures in the half-century since pollsters have been asking the question.
Pew Poll: Trust In Government Hits Near-Historic Low
http://www.npr.org/...
Gee maybe this is a reason
Financial reform Kabuki theater at its finest
http://www.dailykos.com/...
and this
Congress: The Banks Own the Place. Do They Own Obama Too?
http://www.huffingtonpost.com/...
The question is, does Barack Obama have the courage and political will to follow in the footsteps of FDR and again act to protect our financial system from the next bubble which will be the inevitable result of Wall Street's unregulated greed?
I say NO he does not.
Congress is owned by the banks and our financial regulators have been MIA since dismantling Glass-Steagall in 1999
The fact that no one went to jail or even got fired for total malfeasance suggests that both regulation and internal oversight are grossly inadequate.
Now let's see if the Obama admin and our corptocracy infested Congress has the WILL to change the status quo so the US economy does not continue its over-dependence on Financial capitalism
I think it's just so Americans will get more 'extend and pretend' and kicking of the can down the road....
What makes this looting possible?
http://globalguerrillas.typepad.com/...
Costless debt (from central banks), a free pass on usury, subsidies (bailouts), government collusion (no arrests, investigations, or meaningful new regulation after the crisis), mark to make believe valuation (a mechanism that allows banks to avoid realizing losses on worthless assets), government purchases of bad assets, and government guarantees (on all of the new bad "assets" of too big to fail banks).
Clinton
then Bush
now Obama
Net Net:
1. the Federal gumbit officially became a tool of financial capitalism in 1999 when Glass-Steagall was largely dismantled
2. If Obama admin cracks down and re-establishes Glass-Steagall 2.0 than I become a believer again
3. If not then it's just kabuki theatre