FedUpUSA

Posts Tagged ‘Lauren Lyster’

Lauren Lyster interviews Sheila Bair, former head of the FDIC, discussing ZIRP, Bank Bailouts and a Post-Geithner Treasury. This is must watch video for those that really want to know what was going on when the banks started to fall like dominoes.

It is clear from watching this video that Sheila likely had her hands tied when she headed the FDIC, and didn’t much appreciate the constraints she was expected to operate under. She seems to actually support our constitution and the rule of law, and finds the actions of our government questionable to say the least.

 FedUpUSA

Steve Keen, author and Professor of Economics and Finance at the University of Western Sydney, discusses private money creation and the myth of fractional reserve lending on Capital Account with Lauren Lyster.

On Fractional Reserve Lending:

Fractional reserve lending itself is a myth.

Regarding Shadow Banking:

…I’m all in favor of profitable banks. I’m not in favor of profitable parasites. That’s what we have right now.

…Shadow banking finances shadow capital. What you see them doing is financing mergers and acquisitions, takeovers, share buybacks, speculation on property, leveraged buyouts, all this sort of nonsense, which doesn’t add to the productive capacity of the economy, and frequently actually destroys that productive capacity.

The 28 minute video is worth every second of your valuable time…

FedUpUSA