How Elizabeth Warren Is Scaring the Crap Out of Think Tanks and Banks (Truthdig)

[truedelphi]

31. THE REASON WE ARE ENTERING NEW AND UNCHARTED TERRITORY

(Or uncharted waters) is because we have never before let the foxes rule the hen house, or at leas t not to the extent that is happening right now. And also, very impriotantly, before the tail end fo Clinton's Presidency, we have never before allowed our Rulers to enslave us by keeping the Glass Steagall style provisions off the books.

In other words, a nation does not "magically" arrive at having "new and uncharted territory" crop up. This is like a parent having a teenage kid and buying them the crack cocaine and then saying, "How can I help this situation?!? It is all new and uncharted territory for me as a parent!"

Ha d anyone in the USA, preferably the newly elected President, one Barack Obama, listened to Issa or Kucinuch as they addressed Paulson back in Fall of 2008, we could have, as nation followed the exact same procedures for restoring the economy as were followed by Congress and the President back at the time of the Savings and Loan fiasco. Those laws were in fact, still on the books.

But instead, Barack Obama colluded with Wall Street. He allowed Rico-guilty-but never indicted Tim Geithner to take charge of everything, and Geithner pushed for two very destructive items:

One) Not to re-instate Glass Steagal, and
Two) To go head and Bailout the banks. And he deliberately did the Bailouts without any advantages to those providing the Bailout monies. Did you know that when this happened in Ireland, the government saw to it that the banks accepted that the under water mortgages would be secured by the Bailouts. But of course, over in Ireland, the government is afraid of its citizens, while here the citizenry is afraid of the government.

Ho w do we know that a different matter of dealing with the crisis would work? Because the very independent minded, democracy lovers of Iceland have followed a different path and things are working out okay for them