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Our
government and our economy are being mismanaged.
The immediate issue we must deal with is that Congress
is getting ready to pass legislation which may very well be
counterproductive.
Now I am
not privy to the day to day statistics on inflows and outflows
of money market funds, but what they are attempting to do
raises one important question that I would like answered.
If they raise the FDIC bank deposit insurance limits, that
seems to me an invitation for large investors to conduct a run
on brokerage money market funds, i.e., big investors
scrambling to move the cash in their money market funds to
insured bank deposits.
Sounds to
me like another way to bail out the fat cats at the expense of
average citizens who are being misled into thinking that their
money is safe at their favorite brokerage house.
Will some journalist please pose
this question to the folks in charge.
Regarding
the mismanagement of our foreign policy and financial system:
1. A
Futile Bailout as Darkness Falls on America
By
PAUL CRAIG ROBERTS
2. We
Have the Money If
Only We Didn't Waste It on the
Defense Budget By CHALMERS
JOHNSON
3. America's
Own Kleptocracy By MICHAEL HUDSON
4. Who
Will Show Some Backbone Against the Bailout? By RALPH
NADER
5. Capitalism
and Democracy - Part 1 By MARK A.
GOLDMAN
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