Good discussion. I have purchased and read 3 of Mr. Greider’s books, the most important being “Secrets of the Temple.”

Mr. Greider mentioned that 100 years ago the pertinent issues were roundly discussed. In the late 1800s and early 1900s both major parties contributed ideas or coopted issues from minor parties on how to reform the economy and the monetary system. Contrast that with the period 1988-2008 when the most important qualification for the office of president was to be as close as possible to the looting of the S&Ls. (son, business partner, brother)

Mr. Greider has laid out the financial crimes of the last 25 years in some detail, and yet little has been done to make such larceny more difficult.
My point or question is this, doesn’t there need to be more drastic, perhaps even revolutionary reforms if we are to unseat cleptocracy that has seized our finacial infrastructure.

I recommend two books to expand the discussion.

Ronnie Phillips, “The Chicago Plan & New Deal Banking Reform” on the missed opportunity of introducing a 100% reserve requirement on banks.

and my own “Redeeming Money” by Stephen C. Clark, available for purchase or free download at lulu.com

Mr. Greider has in his own way written the sequel to Alexander Del Mar’s “History of Monetary Crimes”. Thank you for all your effort and best wishes.

I have read all your books and say, without a moment’s hesitation, that you are the MOST significant writer of your generation. Thank you for all your hard work and the pure enjoyment you have given me over the years with your superb writing.

Inside The Great American Bubble Machine : Rolling Stone
Jul 2, 2009 … Matt Taibbi on how Goldman Sachs has engineered every major market manipulation … loophole in the system of Western democratic capitalism, …. the new game in town, the next bubble, is in carbon credits — a booming …
http://www.rollingstone.com/politics/…..230;/print – Cached – Similar

This makes sense from a yield to maturity calculus. Capital formation where goods, services & jobs are created can’t compete with Wall Street speculation through program trading & highly leveraged arbitrage bets.

Doing this with U.S. Treasury funds at zero percent interest, makes their shortsighted game even more profitable to Goldman Sachs, etal.

Gives a twisted connotation to the old expression, stealing them blind.

he allowed Goldman Sachs to become a bank holding company

I would like to look at the actual numbers but I’m guessing that about 98% of Goldman is still tied up in investment banking. All the change in designation did was give it access to badly needed credit so it could continue its speculations, which it has been doing.

Hugh,you’re the BEST….

Except the firehoses aren’t really putting out the fire.

That’s because they aren’t directed at the fire. They are being used to fill up the rich neighbor’s swimming pool.