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Mr. Obama, Tear Down This Banking System

Just how far down the abyss will our banking system go before the powers that be realize it’s time to blow the whole sucker up and build a brand new system from scratch? That’s pretty much exactly the question I asked, sheez, could it be over three friggin’ years ago? And since then, what have the Very Serious People of the world done to fix the banking system? Absolutely nothing, as is pretty obvious from the news of the last several months. Back in May we had JPMorgan’s $2 billion trading loss, all backed by your FDIC dollars. Then we had the municipal bond-rigging scandal. And now we are in the middle of the LIBOR banking scandal. Sheez, not only is the commercial banking system a disaster, our whole “independent” central banking system is also a total failure.

As far as I can tell, it’s only the Dirty F*cking Hippies that are even the least bit concerned about this. No one in power is even suggesting there might be something there that needs fixing. Talk about fiddling while Rome is burning……