Monday, June 27, 2011
Religion and politics mixed with policy in government
An outstanding example of religion and politics mixing with policy was when the religion of Lord John Maynard Keynes ( expand markets without controls on debt ) evolved into the weak dollar policy we have today. Dr Alan Greenspan embellished this religion with an additional item of faith (removal of the Glass Steagal act of 1933) which then allowed banks brokerages and insurance entities (corporations being persons legally ) to: 1). relax criterion on real estate loans for greater sales. 2). bundle bad mortgages into adjustable rate mortgage backed securities. 3). insure these cash pipes as though they were low risk derivatives and sell them to clients with an appetite for unknown risk. Without even mentioning the word war one need not look hard to find instance after instance where policy is run off of faith based beliefs. The road to fascist dictatorship is riddled with such belief driven policy orchestrated by a true believers trade off of the rights of individuals for religious or nonreligious collectivism.