Ain't worth the paper it's printed on

Just how much money does the Federal Reserve and the U.S. government have, anyway?
If I max out a credit card and can't afford the monthly minimum payment will the Fed print me some money? Will the Treasury grant me a loan?
Let’s review: After FDR imposed the "New Deal" in order to get Americans back to work and in an attempt to pull us out of the Depression. Government ran programs, lending institutions, and re-established regulations and oversight of giant businesses. Then Reagan was elected. During the Reagan years, the reversal of FDR's regulations and oversight began. Industries vital to the economic welfare of the American people were targeted for deregulation under the guise of “Free market capitalism.” We were told that government needs to get out of our way. All these regulations and restrictions were detrimental to small business and entrepreneurial endeavors. Oh, it is to laugh.

Webster defines "regulation" as : 1 a: to govern or direct according to rule b (1): to bring under the control of law or constituted authority

Webster defines "deregulation" as : the act or process of removing restrictions and regulations

So, by these definitions those who wish to deregulate businesses - want them to operate without rules or the control of law. Hmmm . . .

Teddy Roosevelt (a republican) realized the potential for unchecked greed and warned congress and the American people that businesses left unregulated could grow so big as to be a threat. He called proponents of deregulation, "flagrantly dishonest businessmen that are cynically and brutally indifferent to the interests of the people."
In a speech Roosevelt gave in 1908 he ripped into the highly paid hired guns of the business elite, the lawyers, accountants, and corrupt politicians who fought reform. "Every measure for honesty in business that has been passed during the last six years, has been opposed by these men.”

Forward to today's headlines:

AIG one of the worlds largest insurance companies - gets $85 billion dollar loan from the Federal Reserve. AIG insures loans made by Freddie Mac and Fannie Mae.

Fannie Mae and Freddie Mac after being deregulated and privatized have failed and have been bailed out by the Treasury. Their combined mortgage responsibilities are roughly 5.3 trillion with a "T" dollars.

Bear Stearns one of the world’s largest global lending institutions failed and was loaned 29 billion by the Fed. But, not before B&S executives Greenberg, Molinaro, Cayne and Spector sold $57 million of it’s stock.

Merryl lynch was going to have to file chapter 11 but, Bank of America saved their ass and bought them out.

Lehman Brothers a lending institution that has survived the Civil War and the Great Depression has filed chapter 11. Barclays an English bank is buying the bankrupt company.

Analysts say there are more bail outs to come . . .

As of Jan. 2008 the American dollar was worth 40 % less than it was in 2002. Over the past few weeks it has plummeted even farther.
All of this mess due to deregulation and the ensuing lawless corruption and greed. Deregulation, the conservative republican battle cry since the Reagan era and highly touted by every conservative pundant and talk show host since the deregulation of the media. (which also led to the removal of the "fairness doctrine".) We have been told that government is not to be trusted with business oversight or regulations of any kind. Government is inept, full of bureaucracy, and graft. (Even though that same dreaded and feared entity just took over the 2 largest privatized lending institutions in our nation’s history.)
The reporting of this financial catastrophe is scarce at best. The under lying cause of the debacle is only existent in blogs and the far left media. I guess John Mayer hit it on the head when he sang, “When they own the information they can bend it all they want.” We’ve been bent so far that our collective backs are about to break.

DaG Out