"Relaxing the rules invites more of the same type of opacity and risk-taking into banking that caused many of today's financial problems. Politically, the Fed's timing could not have been worse. Taxpayers are being asked to buy up banks' junky assets, with little expectation of return. At the same time, private equity firms are being invited to make what are likely to be highly profitable investments in the same banks."

Ben Bernanke, chair of the Fed and Henry Paulson, Treasury secretary, are both Bushite loyalists in criminal Bush regime whose deregulatory policies helped cause this crisis is unquestionable.

As an article in the AsiaTimes points out: "The Fed's actions in coping with the present financial crisis, which it created through cheap monetary policy during 2001-2008 and monetization of large fiscal deficits, have been so far characterized by stampede, confusion, and excess. Not a single action since August 2007 was based on full understanding of the underlying problem and none of its impacts were properly assessed. There was no comprehensive assessment of the financial sector soundness, and no evidence for systemic risk was established. 

"Except for investment banks that were involved in speculative hedge funds and credit derivatives, the commercial banking system remains largely salvageable. As evident, most of the Fed's actions were made at behest of Wall Street and were not warranted by the ample liquidity of the banking system and fast growth of credit since 2001; bank credit continued to expand at very high rate of 12% per year during 2001-2008, implying absence of any credit freeze for the economy at large. Most notorious was the cutting of the federal funds rate from 5.5% to 2%, which was highly applauded by bankers, politicians, and academicians, yet failed to stimulate the economy.

"Similarly, massive injection of liquidities since August 2007 and the facilities put by the Fed to lend to the banking system have allowed banks to pour money into speculative oil, food, and other commodities markets; they aggravated food inflation, disrupted transports sector, slowed down economic growth, and pushed unemployment to 6.1%."

But instead of any plans to restructure the Bush supported horrible financial system with 21st century New Deal reforms, the Bush-Bernanke-Paulsen plan is adding fuel to the fire, albeit giving their criminal clone Wall Street cronies, all perpetrators in this blatant robbery a chance to feed at the government trough to make even more money from their greedy and fraudulent crime that inflicted disaster on this nation and its people.