Obama's Nefarious Right-wing Plot Revealed!

[leveymg]

83. Your speculation may be right, but it isn't reality

BTW: Virtually any Democratic President would have pursued a Stim at least as large, probably far larger, and would have imposed conditions on the enormous pool of additional liquidity released by the Fed through QE2 including domestic investment and jobs creation.

Instead, these same big global banks continue to offshore funds and disinvest. At the same time, the Member banks of the NY Fed have gained additional lucrative special drawing privileges (receive negative real interest loans at the Overnight Window on worthless collateral, such as CDS and bad loan bundles), participate in multi-trillion dollar Repo market (receive rents from short-term lending of Treasuries). Despite this enormous hidden stimulus of Qualitative Easing 2 (QE2) (not really secret, but few outside the bonds traders knew much it until Senator Sanders released documents) continued to offshore funds and disinvest. This additional liquidity finances the outflow of money that has driven unprecedented growth in foreign markets and economies, while the US largely remains moribund, a carcass to be picked over by global vulture capital firms.

Basically, the beef is that Geithner (with Obama's okay) bailed out the big banks without strings attached, as a result we've had a lop-sided recovery that primarily benefits Wall Street while Main Street continues to crumble.

Sorry, not impressed except by the audacity of Wall Street and their proxies in DC in raiding the Treasury this way.