Fake Credit Crisis?

This guy told Rachel Maddow on MSNBC the Minneapolis Fed says we’ve all been lied to, to the tune of a trillion bucks or more.  [Kind of like the fake Social Security Crisis?!]

This paragraph is his upshot:

The real crisis is in the real economy – ya know, the real world of jobs, wages, health care premiums and pensions that Washington has totally ignored as it keeps writing checks to its well-heeled campaign contributors on Wall Street under the guise of a lending crisis. Adding insult to injury is the last thing I discussed with Rachel – the fact that because the bailout money came with almost no strings attached, the financial industry recipients of the taxpayer largesse are either hoarding the money, using it to pay shareholder dividends and executive bonuses, or devoting it to efforts to buy up smaller competitors.

He concludes:

…pundits and politicians were using an admittedly real problem to manufacture the perception of a full-on earth-shattering crisis so as to justify the biggest taxpayer heist in contemporary American history.

You do the math now.

I don’t buy everything Maddow or her guests say, but more and more I find her a necessary reality-check on the MSM and, well, reality … perhaps especially now that we will supposedly not only win but occupy the White House.  She’s truly a D.Phil. to watch out for!