Everything that Born stated before congress is indicative of the corruption that exist in the highest of places (The Federal Reserve who operates in collusion with Wall Street, and the banks, the entire financial industry). Its inconceivable that a privately run Hedge-fund with no transparency, and unregulated, could get bailed out with the help of a Federal Reserve Chairman in addition to banks giving huge amounts of money, into the billions to keep it from failing due to it making bad bets.
Derivatives are just that, securities they create that no one can even understand, just like the CDO's, and the Credit Default swaps which were insured as if these things were tangible assets, and could be insured. The biggest policy maker was AIG who received a staggering $176 "Billion" to cover them. What it was actually was in hock for from what I read was $470B. Then we come to Goldman Sachs. 2 former Treasury Secretaries were Ceos of one the biggest Hedge-funds, and who to operates out of the Cayman Islands, like George Soros, and nearly 10,000 more who are not registered with the SEC, with no accountability.
Is it any wonder whats wrong with our government institutions, fighting in unjustified wars so it can give out billion dollar contracts to corporations, why our infrastructure is collapsing, why we're $14 trillion + in debt. Many of the biggest corporations pay Zero taxes, and those that do come in at around 15% if that?.
Whats driven our country into the ground is greed and power, and when we delve into the lowest recesses of the policies our government has put in place over decades, its due the ones who really pull the strings, like you've said, "the lobbyist". The only thing that drives these forces again, power and greed. Kinda like all the systems in the world, and what has existed for centuries. The very things that may cause it to collapse in on itself one day.
According to the republicans one way of remedying this problem is to give a trillion dollars in tax breaks to the wealthiest people in this country.............then ride the backs of the middle class if there is one in making sure that everyone else pays theirs, and then take everything else away from the rest, the most vunerable, as they see as "the 2nd class".
This only touches the surface. The young people don't know how things were in the 60's or 70's. I remember when people were left to die outside of hospitals because they had no health insurance, and couldn't provide a card...........they should visit some county nursing facilities, and ask if they would want to see one fo their loved ones admitted to one because they have no other choices.
