<sigh>
The issue, as the author notes, is the central bank. Without the central bank, CRI, Fannie, Freddie, et al could not do their *magic* -- regardless of potential 'fine tuning'.
Regard$,
--MJ
When whole races and peoples conspire to propagate gigantic mute lies in the interest of tyrannies and shams, why should we care anything about the trifling lies told by individuals. -- Mark Twain
At 06:38 AM 6/4/2011, you wrote:
On Thu, Jun 2, 2011 at 4:01 PM, MJ <> wrote:
Rockwell is neither the author of the piece NOR does his name appear within it.
===
The article appears on LouRockwell.com, where you cut and paste it from:
http://lewrockwell.com/orig12/kolbjornsen1.1.1.html
Michael goes on to say:
Additionally, the author says nothing regarding the Government Entities of Freddie and Fannie or whether Bush tried to modify their policies. The SAME goes with Clinton, CRA, etc.
<scratches head>
===
Exactly; proving once again that the author hasn't a clue about what the Hell he is even talking about. Both Rockwell and the author, (Is the Author even American?) ignores the real issue of the, "three year anniversary of the dramatic financial events of September 2008"; which was in truth and fact caused by the communist inspired Democratic initiative, the Community Reinvestment Act. Rockwell, Jens C. Kolbjørnsen (possibly a Swede? I'd love to hear his views on Swedish politics!) obviously don't want to discuss the real culprit, instead focuing and inferring blame on the wront entities.
Eugene Ludwig, President Clinton's Comptroller of the Currency and head of the Office of the Comptroller and Currency, was a strong proponent of expanding the reach of Community Reinvestment Act. Ludwig said in his confirmation hearing that his first priority as Comptroller would be to eliminate
"discrimination from our financial system, root and branch."
Ludwig told bankers,
"If you seize this issue as an opportunity, you will reap the benefits in the form of new business and heightened respect from the press, the Congress, and your communities." (See the CATO Institute, a non-partisan Libertarian Think-Tank, link provided below)
With regard to the Community Reinvestment Act, Clinton Administration Attorney General Janet Reno said,
"No loan is exempt, no bank is immune. For those who thumb their nose at us, I promise vigorous enforcement."
http://209.85.165.104/search?q=cache:90IT4MK9474J:www.cato.org/pubs/regulation/regv17n4/vmck4-94.pdf+Community+Reinvestment+Act&hl=en&ct=clnk&cd=4&gl=us
Finally, Lou Rockwell, the purported "Libertarian" that he is, ignores former President Clinton's admission of guilt. On September 26, 2008, His Holiness said:
"I think the responsibility that the Democrats have, may rest more in resisting any efforts by Republicans in the Congress, or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac."
http://hosted.ap.org/dynamic/stories/M/MELTDOWN_ADS?SITE=DCUSN&SECTION=POLITICS&TEMPLATE=DEFAULT
Lou Rockwell. A political hack, who parades himself as a "Libertarian". A purported "Libertarian" who is ignorant of our history, our culture, our system of government, macro or micro economics, and a purported "Libertarian" who is in favor of ObamaCare. How......Oxymoronic. In truth and fact, Lou doesn't have a clue what a "Libertarian" even is.
On Tue, May 31, 2011 at 3:30 PM, MJ <michaelj@america.net> wrote:
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