Instead of using bailout money to help people save their homes, the banks have thwarted $350 billion in TARP funds, have used the money to buy other banks and have created a credit freeze. The banks have been permitted to pyramid debt out of sight. If we bail them out, the government and the corporate state become one and the same. The wealth of the Nation is being accelerated upwards. We're moving from industrial capitalism to feudal capitalism where the rich get richer while 10 million Americans are out of work, while 10 million Americans face the loss of their homes and while American manufacturing jobs are endangered. We have to take control of our money system. Put the Federal Reserve under Treasury and the fractional reserve system. We don't have to borrow money from banks, putting ourselves deeper in debt. We can create the money, spend it into circulation for jobs, health care, education, and infrastructure. Throughout history, those nations have prospered which have had control of their monetary system. I am going to be introducing legislation to help effect exactly that.
Editor's note · Context
Addressing the misuse of TARP funds and advocating for control over the monetary system.
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