Prarie Blake dot com

What's really happening here? We have a large number of very rich people claiming that the system will no longer function unless the government underwrites the risks they have taken.

The parallels to the previous scandal of savings and loans in the late eighties and early nineties is interesting to me. There are many differences, clearly, but some things seem eerily similar. The difference here is that the debt is not already backed by the government as it was with the S&Ls. Who is really profiting from the money disappearing? Someone is.

The same criminal mindset that drove the S&L scandal doesn't appear to have driven this one, but I find it difficult to believe that people didn't see this coming or more likely want it to happen.

Regardless, it looks like yet again the average person is going to get stuck cleaning up the mess that some influential few were able to make when everyone wasn't paying attention.

We need an open system of government and finance. Transparent, protected and enshrined. It should not be possible for nations to leverage themselves in bankruptcy let alone individuals. The credit system is clearly broken beyond repair and a new reckoning of value to money is needed. One that does not include money for nothing industries that currently defines the credit industry and the entire trading system. Real people with real lives are being completely destroyed and we are forced to hear about some ridiculous and ultimately useless "compromise" that is supposed to make us believe that the broken system can still operate. The amount of money tied up in this mess is well beyond what any rescue plan can really provide and meanwhile someone is shoveling it into a truck in the back loading dock.