Larry Summers and the Secret "End-Game" Memo (collapse of the world economy)

[QuestionAlways]

105. What is so unusual about the Memo?

It says nothing more then consult with the leaders of the industry our negotiations are going to effect, and here are their phone numbers. It happens, and should happen, all the time. The government aways consults with the industry that changes in the government's regulations are going to effect.

It was not the Memo that hurt us, it was the advice the bankers gave. They had no idea that it would cause the crash of our economic system, derivatives were suppose to mitigate risk, it was a form of insurance, supposedly. All the banker were trying to do was increase their profits, not cause the world's economy to collapse.

The only reason the government bailed the bankers out was because several large banks went bankrupt, and there was a fear it would spread. Summers was going to get that job that made him a millionaire no matter whether the rules changed or not, that is just the way the system is under any President. The government regulators get great jobs in the industry they regulated, it is all about connections and relationships that develop.