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Of the Special Interests, by the Special Interests, for the Special Interests

roman_mir (125474) writes | about 2 years ago

User Journal 2

"It is often that stories appear on /. about the various machinations of various government agencies and special interests that revolve around them to buy them, we are always on the receiving end of these collusions, be it ACTA, CISPA, the Patriot Act, NDAA, anything really.

"It is often that stories appear on /. about the various machinations of various government agencies and special interests that revolve around them to buy them, we are always on the receiving end of these collusions, be it ACTA, CISPA, the Patriot Act, NDAA, anything really.

If you ever wondered what it may look like when a non-special interest person makes it to one of the Congressional hearings in order to present the other side of the story, in order to give perspective of the tax payers, of a general member of public, then here is an example of what it looks like.

Peter Schiff was invited to this Congressional hearing (this is his second, his first one was a last year). He went to the hearing as a private individual, a person who has predicted the stock market crash of the late nineties, the housing bubble crash of 2008 and now is explaining why the USA is on a path towards the biggest bubble crash â" US dollar and bond crash, and the predictions are made simply by observing the fact that the government always ends up catering to the special interests, including political interests, which can never take the real corrective approach to the economy, which would require ditching the policy of controlling the interest rates on money, counterfeiting money (credit) by the Federal reserve, regulating the industries in a way that helps special interests in the first place.

In the room with him in this Congressional hearing were some of the people, to whom he gave speeches in 2005 and 2006 about the coming housing bubble collapse â" representatives of the mortgage bankers association.

You will notice that during the Congressional hearing, these special interests are treated as if they are impartial witnesses, while Schiff is mostly disregarded, of-course he does not represent a special interest in that room except that of a tax payer, so it is obvious he has no government solution to offer to the Congress.

Regardless of your point of view on the matter of FHA, it is an interesting review of what it looks like when special interests and the government get together and decide how to spend your tax money.

2 comments

Indeed (1)

Arker (91948) | about 2 years ago | (#40290243)

If it doesnt involve a government program, it doesnt fit their definition of a solution.

Good link (0)

Anonymous Coward | about 2 years ago | (#40290895)

Thanks, that youtube video is really eye-opening. The guy is a bit of a dick though, maybe if he didn't appear so desperate to convince others, he'd be treated more seriously. This comes across in his other youtube videos too, he's seems to be a really good speaker but is not so good at replying to questions and figuring things out on the spot.
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