The report covers what the Commission views as causes of the financial crisis. The report is 150 pages long and covers a great deal of material in a great detail. Some of the information is valuable perhaps much of it is valuable. The problem with the report is that it addresses only symptoms. It never truly gets to the actual cause of the financial crisis.
The major flaw is this: the report approaches the crisis as if it were something that happened. They do not take the viewpoint that the global financial crisis was, in fact, caused.
Viewing the crisis from this viewpoint takes a willingness and an ability to confront some very unpleasant facts. People have trouble confronting evil. That is why exposes of some of the more unpleasant things in life are often pejoratively labeled “conspiracy theories.”
Call it what you will, but the simple fact is that the so called GFC – the Global Financial Crisis – was a crisis by design.
The problem with the conclusions of the Commission is that in approaching the matter the way they did, is like getting a report from a doctor that says the person’s temperature was high, they weren’t digesting food properly, their heart was beating rapidly and the liver was not detoxifying toxins properly. Conclusion: the person got sick. These things shouldn’t happen and we must prevent them from happening again because they lead to illness.
No real answer and no real solution.
Only when one views the crisis as something that was purposefully created do the symptoms aligned into a pattern that reveals who caused the crisis and why (see my book: Crisis by Design The Untold Story of the Global Financial Coup).
It is also important to note that the second act of this staged play is occurring in Europe “as we speak.” Moreover, it is my opinion that a third act is planned, and it is planned to be played again on the stage of the United States economy. This will occur sometime, as an estimate, in the next 12-18 months.
Congress must take responsibility for the fact that the President signed an agreement with 20 other nations, which, in a very real sense, transferred the financial autonomy of this country to the Bank for International Settlements in Basel, Switzerland without consulting Congress.
The Senate has not reviewed this agreement, which was signed on April 2, 2009 at the G 20 meeting in London. And neither has the House. The United States Congress must review this agreement and must establish, along with other nations, a system of oversight and checks and balances over the international bankers that are now running roughshod over the world’s economies.