The Anti-Free-Market Federal Reserve
I believe in democracy, freedom, capitalism, and a free market. Why does the Federal Reserve keep insisting that it knows better by implementing anti-capitalistic plans and perpetually fucking around with the market? Please let the market operate! Let it go! Prices are what they should be! That's the definition of a free market! When they manipulate the market it's no longer free.
This includes the proprietary trading systems at investment banks. If the bank can invest its own money, it can influence the market in any way it sees fit. Want to tell politicians that a particular law or not passing a particular law would cause the market to drop (or rise)? They can trigger it. This is called Terrorism, and it was used to pass the bank bailout bill in late 2008. Investment banks investing their own money is a conflict of interest to democracy, their own clients, and the interests of the economy.
@ 9:10
The FBI should be investigating that act of Terrorism by the banks and Federal Reserve System. Even if the people didn't know (and thus weren't afraid), the politicians were threatened directly to pass the bailout bill. Influencing law is exactly what terrorism is designed to do... at it seemed to work, unfortunately.
Official says Fed might buy more mortgage-backed securities
The Federal Reserve would consider reopening its program to support the mortgage market if interest rates spiked or the economy showed new weakness, Federal Reserve Bank of New York President William C. Dudley said in two new interviews.
The Fed is buying $1.25 trillion in mortgage-backed securities in its effort to prop up the economy but has said it will end those purchases March 31.
They need to stop manipulating the market immediately.
This manipulation introduces distortion in the market. That distortion is not singular. It ripples out through the economy. These ripples required more fixes and those even more until it's the Katrina Hurricane of the financial market.
In order to force the market to be focused on people, this bailout money would have been better placed into the hands of the people. At least the distortion would have been citizen oriented instead of banker bonus oriented. Then again, it's corporate America that gives politicians the money to convince us to vote for them; so it's not too surprising that this didn't happen.
In all, there should have been no bailouts. Failure for companies that are too weak. Success for those that could fill their place. Would there have been pain? Yes. But, that short term pain is much smaller than the long term pain we are now in for now.