The corrupt financial establishment of our day are a bunch of idiot scum.
From FDL
By: Arthur Fullerton Tuesday July 19, 2011 6:13 am
Reading Lawrence Summers in the Financial Times yesterday I came across this statement as his third principle of dealing with the Euro crisis:
“there must be a clear commitment that, whatever else happens, no big financial institution in any country will be allowed to fail.”
And so we have a clear unambiguous statement of the principle of socialism for the rich and powerful, and capitalism, red in tooth and claw, for the poor. Notice that too big to fail has now gone global. Over the past 24 hours this has been sitting out there with no push back or comment from the media. Is it simply an accepted fact that governments around the world — including our own — will now maintain a system where no large financial institution — no matter how corrupt or incompetent — will be allowed to fail?
This while the same financial and political elites demand that all social safety nets be sacrificed on the pagan altar of the Free Market?
Trying to create a world financial system where “no big financial institution in any country will be allowed to fail” is an unsustainable act of hubris and is itself doomed to failure. Doing so while simultaneously casting the poor adrift is shameful.
Showing posts with label banker bailouts. Show all posts
Showing posts with label banker bailouts. Show all posts
Wednesday, July 20, 2011
Monday, July 18, 2011
The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . . ?
From OpEd News
Yes, these banks are engaged in warfare against the rest of society. What's going on in Greece is exactly what's going to happen in America very shortly. Why? Because in every industrialized country, the big banks are in the process of offloading their bad debts onto governments. They are then forcing these governments to sell off national assets so that the bankers can be paid what they consider to be their due...
...what these banksters and their cohorts are really trying to do is to roll back the Enlightenment, roll back the moral philosophy and social values of classical political economy and its culmination in Progressive Era legislation, as well as the New Deal institutions that embody such legislation. They're not trying to make the economy more equal, and they're not trying to share power -- just the opposite: Their aim is to implement a kind of pre-industrial and even feudal socioeconomic system. What this means is that our economy is being pushed back and put on the road to debt peonage. Hence forth, most manufacturing will be done in Asia and Europe.
What we have here, therefore, is indeed a "Road to Serfdom." It is just the opposite of the government sponsorship of economic progress and rising living standards that we had until Reagan took the White House. Rather, it's the dismantling of democratic government and the dissolution of regulatory agencies, for the purpose of creating this new kind of neo-feudal system...
...Also consider that many progressive economists are now telling us that the true purpose of the bank rescue plans is "a massive redistribution of wealth (concentrating ever more of it into the hands of) the bank shareholders and their top executives."
Finally, as the wholly non-partisan Australian economist Steve Keen observed:
"This is the biggest transfer of wealth in history," as the giant banks have handed off their toxic debts (stemming from fraudulent activities) to tax payers in their respective countries. These big banks created bubbles -- using fraud -- because that's the only way they could make the obscene profits they feel they now deserve.
Read article in full.
Yes, these banks are engaged in warfare against the rest of society. What's going on in Greece is exactly what's going to happen in America very shortly. Why? Because in every industrialized country, the big banks are in the process of offloading their bad debts onto governments. They are then forcing these governments to sell off national assets so that the bankers can be paid what they consider to be their due...
...what these banksters and their cohorts are really trying to do is to roll back the Enlightenment, roll back the moral philosophy and social values of classical political economy and its culmination in Progressive Era legislation, as well as the New Deal institutions that embody such legislation. They're not trying to make the economy more equal, and they're not trying to share power -- just the opposite: Their aim is to implement a kind of pre-industrial and even feudal socioeconomic system. What this means is that our economy is being pushed back and put on the road to debt peonage. Hence forth, most manufacturing will be done in Asia and Europe.
What we have here, therefore, is indeed a "Road to Serfdom." It is just the opposite of the government sponsorship of economic progress and rising living standards that we had until Reagan took the White House. Rather, it's the dismantling of democratic government and the dissolution of regulatory agencies, for the purpose of creating this new kind of neo-feudal system...
...Also consider that many progressive economists are now telling us that the true purpose of the bank rescue plans is "a massive redistribution of wealth (concentrating ever more of it into the hands of) the bank shareholders and their top executives."
Finally, as the wholly non-partisan Australian economist Steve Keen observed:
"This is the biggest transfer of wealth in history," as the giant banks have handed off their toxic debts (stemming from fraudulent activities) to tax payers in their respective countries. These big banks created bubbles -- using fraud -- because that's the only way they could make the obscene profits they feel they now deserve.
Read article in full.
Saturday, April 16, 2011
Thursday, December 30, 2010
Wednesday, October 6, 2010
Max Keiser, Rodney Shakespeare and Rollin Amore on Press TV’s News Analysis program
Notice how the guy from Washington is defending the banks. That's the typical American response. Caught in the grips of false Republican and Wall Street propaganda, the only answer Americans can find is, blame it on the little guy. Blame it on the poor and those who need social security or food stamps, because JPMorgan and Goldman Sachs can do no wrong. That's why I am most concerned about the USA. It seems in the USA the answer to everything is always to parrot what the financial and military establishment wants us to say. At least other countries recognize they are being robbed, and also who is robbing them.
Tuesday, September 28, 2010
Sunday, September 5, 2010
Kabul Bank Bailout: Perhaps We Have Succeeded At Exporting American Democracy?
Reports have come out of the 300 million dollar shortfall at the Kabul Bank for weeks now. An article in Prison Planet in a thorough discussion of our history bailing out foreign banks quotes a since revised New York Times article as mentioning an "intervention."
Details of the deal, including how much each government would contribute, were still being worked out on Saturday between the Central Bank of Afghanistan and the United States Treasury Department, officials said…Top officials at Kabul Bank and a senior leader at the Central Bank declined to comment publicly on the proposed bailout, which was still being negotiated. However a manager at the Central Bank and a senior American official confirmed what the American official called an “intervention.”
Details of the deal, including how much each government would contribute, were still being worked out on Saturday between the Central Bank of Afghanistan and the United States Treasury Department, officials said…Top officials at Kabul Bank and a senior leader at the Central Bank declined to comment publicly on the proposed bailout, which was still being negotiated. However a manager at the Central Bank and a senior American official confirmed what the American official called an “intervention.”
Thursday, August 12, 2010
Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew
From Prison Planet.
A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised...
A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised...
Thursday, May 13, 2010
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