I don't think the banks were criminal, do you?

The Federal Reserve is a big topic. There are pros and cons to it. Overall I'd have to say the Fed usually does a very good job managing a modern economy. Philosophically, there are problems with it. But we do live in a time of big Governments...and you know what...maybe they're needed!

Money went off the gold standard in the 1930's under Roosevelt.  They even seized and destroyed gold coins! Nixon took us totally off the Gold standard in 1969.  I've never understood the arguement that money has to be tied to a limited commodity. I mean, it's nice and gives some security, but not much. Actually, prior to the Federal reserve when we were on the Gold standard, economies were much more erratic, with severe economic swings much more often than what we have had since we went to more government control of the economy.

Of course I agree that you have to reward production and allow people who don't produce to fail. But the problem is if you have a massive bank failure, we all fail. And we don't have to if the Government is willing to step in and provide a safety net for the economy.

Look, I'm as angry with the banks as you are...and the insurance companies. But I don't think they were necessarily criminal...although there are probably some crooks involved in all this. I mean, you seem to be making an arguement for socialization of the banks! Which might not be a bad idea right now- especially since we own them!

I might be an idiot...but I do have faith in the American business man, and his can do attitude. I think with a little help, a little collective effort, we will get out of this without too much more damage.

And I have to say I pretty much approve of just about everything President Obama and President Bush (in september) have done to try and stabilize the wreck our economy has become. I think it's working, and I think it will work and we will not have a Great Depression right now because we learned valuable lessons that are being implemented right now.