In the market economy, there is a long-run tendency for errors to be corrected and replaced by different practices that uplift the people. In government, there is a long-run tendency to keep trying the same thing again and again, no matter how often or how badly it fails. Keynesianism is, after all, as Joseph Salerno points out, the "economics of state power." And that guides us to the foundational problem: the monopoly entity that rules and devastates society for its own benefit.
The issue goes beyond fraudulent paperwork to an intentional, far-reaching theft scheme designed to take junk subprime loans and disguise them as AAA-rated investments. The banks lent money to corrupt companies like Countrywide, who made masses of bad loans and immediately sold them back to the banks.
Obama Goes All Out For Dirty Banker Deal | Common Dreams
Washington, August 26th, 2011 – Even before Rick Perry ever entered the race for President, he was considered a top contender. In the latest Gallup poll he has surpassed Mitt Romney and is now seen by many as the candidate with the best record on jobs, taxes and the economy. But is Governor Perry the real deal? If one stops paying attention to Perry's campaign website and checks the facts, it is clear that the governor of Texas does not have a very sparkling record.
Rick Perry, the phony presidential candidate