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Huffington Post
November 23, 2009 10:43
Tom Frank's book, The Wrecking Crew explains how the Bush administration destroyed effective government and damaged our social fabric and our economy. The Obama administration has chosen to reward two of the worst leaders of Bush's crew
-- Geithner and Bernanke -- with promotion and reappointment. Embracing the Wrecking Crew's most destructive members has further damaged the economy and caused increasing political and moral injury to the administration.Last week was a bad one for Geithner and Bernanke. Senator Dodd said that Bernanke's confirmation was no longer a done deal. The House Financial Services Committee revolted against the administration, the Fed, and Chairman Barney Frank. It voted for a strong bill to audit the Fed. Senate Banking Chairman Schumer went to a conference at Columbia University -- where a generation of students salivated at the prospects of Wall Street wealth -- and was
overwhelmed by an audience denouncing the continuing stranglehold of the finance industry over successive administrations and the Congress. Neither Barney's blarney nor Schumer's schmooze was any avail before an outraged public.Click here for the rest of the story.
William K. Black is the author of The Best Way to Rob a Bank is to Own One. Two circulating copies are available on loan from Tucson libraries. Bill Moyers interviewed William K. Black on April 3, 2009 about "liars loans" and the gutting of the loan verification process. According to Black, nobody was looking during the Bush years. And when nobody looks, fraud escalates.
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