Did anyone catch this quote from William Grieder on Dem Now?

[dixiegrrrrl]

"I’ve been writing for some months, the system is not just broken and not just injured; it is collapsed.

And as long as the government continues to play putting Humpty Dumpty back together again,
I think it will fail.
That’s not an ideological statement. It’s just—I think it’s the reality."

he went to say:
"And so, I hope, without great confidence, that Larry Summers, the economic adviser, and Tim Geithner and the President decide to take a deep breath, jump over the political barriers and say, “We are taking control of the banking system, temporarily, maybe for a few years. But we have to make this system function for the American economy right now.” And handing them the money and asking them to do the right thing is not sufficient. We know that. It’s not just their excesses; it’s the fact that the banks have a very clear self-interest in not lending, in not beginning investment. They’re hunkering down, trying to save themselves from total failure............"

Transcript, below the video...
http://tinyurl.com/blgboh

Many of the smartest economists have been saying this for months now.
I hope President Obama listens.

[Jackpine Radical]

1. I'm sure Obama hears it. Whether he has the will to act--who knows?

He is completely untested on things of this magnitude.

My personal belief is that, if he feels that this is the only way to salvage his Presidency, he will maneuver around to get himself into the best possible posture and then he will do it.

[navarth]

2. I've got to check that out. thanks. eom

[Tangerine LaBamba]

3. Greider is absolutely right

We're in much worse shape than anyone is admitting. This is a depression, and it's going to keep getting worse.

These bullshit "bail-outs" were wrong from the beginning. I harassed my Senators and Congressman, but to no avail, on the first one. Now I'm watching the results of that act. If it weren't so tragic and destructive, it would be funny.

The government really must nationalize the whole banking system. It must. Otherwise, these vampires are just going to keep sucking it down, and how long are the taxpayers expected to keep coughing up the blood these fuckers need to stay alive?

They contribute nothing. They produce nothing. They accomplish nothing. They're simply money movers, and, as we all know by now, they're not very good at it.

If I kept fucking up at my job, I'd maybe get a warning, and if I kept on my path, I'd get fired.

Instead, we're rewarding these fuckers with "bailouts."

Madness is doing the same thing over and over and expecting a different result.

If a man had come to your house and slaughtered your family, leaving only you alive, would you honestly invite him back into your house?

Would you?

[Bigmack]

4. Madness is doing the same thing over and over and

expecting a different result.

Boy have you got THAT one RIGHT ON!!!!! Ms Bigmack

[slipslidingaway]

5. K&R n/t