'Bailout psychology' ... and massive fraud ...

'Bailout psychology' destroying the economy:

"Obama and his economic gurus all chant, 'Credit is the lifeblood of the economy,' but they don't mean credit. They mean debt. Imagine the president saying, 'Debt is the lifeblood of our economy. We desperately need to get more American families deeper in debt.' That's what he means, and that's what these bailouts hope to do."

The entire article is an awesome rant about the bailouts.

And here's something really scary: Bill Moyer's Journal on how the whole thing is a fraud. You can listen to it and get all the content. There isn't much to see.

Basically William K. Black accuses Paulson and Geitner of covering up the most massive fraud of all time. He says Madoff was a light weight compared to these guys.

Is William K. Black a nutjob? "... William K. Black [is] the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s." Sounds like he has some street cred to me.

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