I'm not one to readily believe in secret conspiracies that control the world. But, an article by Kevin Phillips in The Washington Independent causes me to question my naivete. I had never heard of the President's Working Group on Financial Markets although it's been around for twenty years. Phillips doesn't really know what this group does but he alludes to a number of things related to attempts to stabilize the markets, including the direct buying of securities and other assets by the federal government.
The thing that raised my hackles was the assertion that the Group "has declined to submit to the federal Freedom of Information Act or to testify in detail before Congress" plus the current head of the group is our Treasury Secretary, Mr. Paulson, and one member is Mr. Bernanke.
As fas as I know, Phillips is not a nutter. He seems to be an intelligent, thoughtful Republican. Maybe there is something in what he says.
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