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Comment on Financial Reform Implementation
September 2, 2010
It was a sickening look into our government's protection of the financial oligarchy to read how glibly Dick Fuld blamed his banks demise on "uncontrollable market forces". Oligarch's like Fuld love the free market, until it acts against them. Then, they run to the government, and blame the government for not supplying them with an endless supply of liquidity to back their reckless bets.
Fuld simply said, "I thought every financial oligarch has the right to get their hand unstuck from the cookie jar". And indeed, he's got a beef. The fact that Goldman Sach's and every other investment bank is still standing is testimony to the sickening protection of the financial oligarchy, and their continuing favored treatment today. These hearings simply make it more apparent how bankrupt the idea of "the free market" is.
Frank W. Johnson
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