Gary Gensler, Former Goldman Partner, Leads Derivatives Reform Effort As CFTC Chair

THe financial crisis that caused the "great Rcession" as its termed is a manufactured crisis and as soon as we begin to understand that a smal clique of bankers with mostly common cultural, geographic and business connections colluded with our Fed and Treasury to prop up thier failure - we will get a picture of greed and coirruption to include the white house to wall street.. Remember how Goldman operates. They setup sub prime loan pools they kew would fail, insured against their failure with AIG and then when the loans failed as aniticipated, they went to AIG to cover the losses and AIG went to the feds and the FED Reserve paid out for AIG to Goldman - 100 cents on the dollar for worthless paper with no penalities, no. accountabvility, no nothing. The banks took the money and paid themselves $200 billion in performance bonuses - deserved for being the best scams artists in history and they absorbed all the rest of the credit colapsing the markets. How could this be? How can no one see this at the highest levels before they committed themselves and why has no one tried to stop it? It makes no economic sense, except when you see that the same companies that got paid off have profited so conveniently off the rotting corpse of the world's economy and especially americans - our jobs, our homes, etc.
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