An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Wednesday, February 24, 2010
Geithner overrules the Volker rule
Treasury Secretary Tim Geithner is quietly blocking a provision in the proposed financial reform legislation that would have ended banks' ability to speculate for their own accounts.
This means more Americans will have to pay higher prices for food and fuel, even though they are already stretched to the max without jobs.
Geithner is an agent of Wall Street banks and their should be a citizen uprising that sends a clear message to Obama to remove him immediately!
Read story here.
The message is already sent but submlimed.
ReplyDeleteObama had to use every trick in the book to get the healthcare reform passed.
The tea party would agree with Geithner !
Therefore, Obama is letting Geitner do this as part of deal cut to get healthcare passed !!!
We'll get free? healthcare but really we will be forced to buy healthcare and pay higher food and gas to boot.