Why Did Milton Friedman Think a Modern Economy Needed Heavy-Handed Government Regulation in the Liquidity Services Industry and Nowhere Else?

Why Did Milton Friedman Think a Modern Economy Needed Heavy-Handed Government Regulation in the Liquidity Services Industry and Nowhere Else?

he was confident that someday he or somebody else–maybe even me–would find a good, concise, convincing way of proving the point that a modern economy needed very heavy-handed government intervention in regulating the commercial banking industry but nowhere else. It was, he thought, something about the social waste of unnecessary bankruptcy, the catastrophic consequences of bank failures, debt deflation, and the fact that the price of liquidity services was intimately tied up with the units of account that we used to denominate our web of debt.

NSA loophole allows warrantless search for US citizens’ emails and phone calls

NSA loophole allows warrantless search for US citizens’ emails and phone calls

The authority, approved in 2011, appears to contrast with repeated assurances from Barack Obama and senior intelligence officials to both Congress and the American public that the privacy of US citizens is protected from the NSA’s dragnet surveillance programs.

Basically, everything we have heard from the NSA about the scope of their activity since 2006 has been a lie.

NSA Analyst: Under Bush, We Spied On Reporters, State Dept., Scalia, Powell

NSA Analyst: Under Bush, We Spied On Reporters, State Dept., Scalia, Powell

This was in 2002-2003 time frame. The NSA were targeting individuals. In that case, they were judges like the Supreme Court. I held in my hand Judge Alito’s targeting information for his phones and his staff and his family.

So this means that NSA officials lied to congress in 2007 and again in 2008. We have a 6 year history of officials make false or misleading statements to congress. At this point it is clear that this is not going to end until someone sees the inside of a jail cell.

Documents show NSA violated court orders on collection of phone records

Documents show NSA violated court orders on collection of phone records

the Foreign Intelligence Surveillance Court imposed temporary restrictions on the programs after it learned of the violations until it was satisfied the NSA had revamped its procedures to conform to court requirements

NSA officials have lied to congress and to the courts. This needs to be investigated by the house and senate and those responsible need to be tossed out or put on trial.