Declaring the sky was falling, the leaders of the major investment firms implored the US government officials and the Federal Reserve to fund the tremendous losses of their companies. In this video, author Vern McKinley sites in his book “Financing Failure” what he calls as “cafeteria capitalism” of the crony-capitalists. He sites that as long as they are profiting, the corporate leaders want no government involvement, but when they fail due to their risky investment policies, they quickly run to the government for rescue. This is the third segment of the first program of an on-going Full Disclosure Network® series covering the Federal Reserve System.
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