Hearing on Retirement Security

Committee on Education and Labor Hearing, October 7th, 2008

This page includes the statements presented by the witnesses, and a video of the hearing itself.

A delightful quote

http://en.wikipedia.org/wiki/Tongan_pa%CA%BBanga

If money were made of iron and could be converted into knives, axes and chisels there would be some sense in placing a value on it; but as it is, I see none. If a man has more yams than he wants, let him exchange some of them away for pork. [...] Certainly money is much handier and more convenient but then, as it will not spoil by being kept, people will store it up instead of sharing it out as a chief ought to do, and thus become selfish. [...] I understand now very well what it is that makes the papālangi [white men] so selfish — it is this money!

The chief of Haʻapai, Fīnau ʻUlukālala

Federal Reserve research

http://www2.fdic.gov/idasp/main.asp?formname=inst

I think it's time to buy. We haven't hit the bottom yet, I know. But if we wait for "the bottom", then the private capital investors with lots of spare pocket change will swoop in and claim "their share" of all of these companies.

Want to nationalize the Federal Reserve? Right now it is "owned" by 871 different banks around the country. I say buy shares in those banks and hold those shares hostage. Let the people, either through the government or as individuals, buy controlling interest in the Federal Reserve, or we buy controlling interest in the banks and do this the hard way.

Maybe I'm just raging against the machine...