Skip to main content

Bernie Sanders: the only voice of resistance against the Wall Street mafia

The six largest banks in America have over 10 trillion dollars in assets, equivalent to 54% of the GDP of this nation. This is wealth, this is power, this is who owns America.


Ten years after the big crash of 2007-08, caused by the Wall Street mafia, sending waves of financial destruction around the globe, the awful Trump administration that literally put the Goldman Sachs banksters in charge of the US economy, wants to reset the clock bomb of another financial disaster by deregulating the financial sector! And guess what: the corporate Democrats followed again!

Putting aside that Russiagate fiasco, Bernie Sanders was one more time the only voice of resistance against the Wall Street mafia in a hypnotized by the banking-corporate money US senate.

As Bernie stated:

Just ten years ago, as a result of greed, recklessness and illegal behavior on Wall Street, this country was plunged into the worst economic crisis since the Great Depression.

The official unemployment rate soared up to 10% and the real unemployment rate jumped to over 17%. At the height of the financial crisis more than 27 million Americans were unemployed, underemployed or stopped working altogether because they could not find employment. 15 million families - as a result of that financial crisis - lost their homes to foreclosure, as more and more people could not afford to pay their mortgages. As a result of the illegal behavior of Wall Street, American households lost over 13 trillion dollars in savings. That is what Wall Street did 10 years ago.

Believe it or not - and of course we are not going to hear any discussion of this at all - the four largest banks in America are on average 80% bigger today than they were before we bailed them out because they were "too big to fail". Incredibly, the six largest banks in America have over 10 trillion dollars in assets, equivalent to 54% of the GDP of this nation. This is wealth, this is power, this is who owns America.

If any of these financial institutions were to get into a financial trouble again, there is no doubt that, once again, the taxpayers of this country will be asked to bail them out. Except this time, the bail out might even be larger than it was in 2008.


Bernie is right, the facts are all there, except that, again, he is the only one who speaks about it.

Recall that according to chapter 20 conclusions of the US Financial Crisis Inquiry Commission, As a result of the rescues and consolidation of financial institutions through failures and mergers during the crisis, the U.S. financial sector is now more concentrated than ever in the hands of a few very large, systemically significant institutions.

Recall also that in December 1, 2010, the Fed was forced to release details of 21,000 funding transactions it made during the financial crisis, naming names and dollar amounts. Disclosure was due to a provision sparked by Bernie Sanders. The voluminous data dump from the notoriously secret Fed shows just how deeply the Federal Reserve stepped into the shoes of Wall Street and, as the crisis grew and the normal channels of lending froze, the Fed effectively replaced Wall Street and money centers banks in terms of financing. The Fed has thus far reported, without even disclosing specifics of its lending from its discount window, that it supplied, in total, more than $9 trillion to Wall Street firms, commercial banks, foreign banks, corporations and some highly questionable off balance sheet entities. (Much smaller amounts were outstanding at any one time.)



Bill Black, Associate Professor of Economics and Law at the University of Missouri, states:

In the savings loan debacle, a Nobel Laureate in Economics, George Akerlof and Paul Romer, who until recently was Chief Economist to the World Bank, wrote that economists didn't realize - because they lacked any theory of fraud - that deregulation was bound to create widespread fraud and a crisis. Now, we know better if we learn the lessons of this crisis, we need not recreate it.

Very conservative, anti-regulatory people hold the White House and key positions in the House and the Senate, and the first thing the industry does is gut regulation. Why? Because it makes the CEOs so wealthy to run these frauds and predation. It's not necessarily good for the banking industry, but it is extremely good for the most senior leaders and they are the ones, of course, who hire and fire the lawyers and the lobbyists, and effectively hire and fire key members of Congress.


Apparently, our memories are indeed so short that we have learned nothing from the 2008 Wall Street crash. Bernie Sanders (and probably Elizabeth Warren to some extend), are left alone again to fight against the Wall Street mafia because, apparently, the rest of the US political class has been bought from it.

Comments

Popular posts from this blog

Καταγγελία-βόμβα Βαρουφάκη: ο κλειστός κύκλος της οικογένειας Μητσοτάκη έχει μετοχές στα ταμεία που αγοράζουν τα κόκκινα δάνεια!

 globinfo freexchange

Το τελευταίο διάστημα, ο Γιάνης Βαρουφάκης αναφέρει συνεχώς, σε διάφορες συνεντεύξεις και ανακοινώσεις του Μέρα25, τον ύποπτο νόμο "Ηρακλή", που ψήφισε τον περασμένο Δεκέμβριο η κυβέρνηση Μητσοτάκη. Στο ακόλουθο βίντεο, με ημερομηνία ανάρτησης 30 Μαρτίου, δηλώνει χαρακτηριστικά:

                    Ακόμα δεν απάντησαν για τα κόκκινα δάνεια. Για τη μονιμοποίηση της προστασίας της πρώτης κατοικίας και των μικρομεσαίων. Ή, γι'αυτό που πρότεινα προσωπικά στον πρωθυπουργό: μια πράξη νομοθετικού περιεχομένου, με την οποία πρέπει να παγώσει ο "Ηρακλής" άμεσα. Γιατί και να αναβάλουμε τις πληρωμές των στεγαστικών, των επιχειρηματικών δανείων, τις δόσεις, να μην ενεργοποιηθούν οι εγγυήσεις στα αρπακτικά ταμεία, που έχουν δικαίωμα σε τρεις μήνες να ζητήσουν από το δημόσιο 12 δισεκατομμύρια, τα οποία ο κύριος Μητσοτάκης θα πρέπει να πάει στην Τρόικα να τα δανειστεί, υπέρ των αρπακτικών ταμείων! Αν είναι δυνατόν! Πράξη νομοθετικού περιεχομένου σήμερα ν…

WikiLeaks - Secret Congressional report foresaw Fannie Mae's negative impact on financial markets right before the eruption of the global crisis

The CRS is a Congressional "think tank" with a staff of around 700. Reports are commissioned by members of Congress on topics relevant to current political events. Despite CRS costs to the tax payer of over $100M a year, its electronic archives are, as a matter of policy, not made available to the public. Individual members of Congress will release specific CRS reports if they believe it to assist them politically, but CRS archives as a whole are firewalled from public access. This report was obtained by Wikileaks staff from CRS computers accessible only from Congressional offices. 
globinfo freexchange
A report from April, 2007, examines the practice of privatization of many government services in the United States, emerged in the late 1970s and early 1980s.
An interesting part of the report explains the distinction between privatization and marketization, an alternative to privatization, which is "the structuring of a government agency so that it provides goods and ser…

COVID-19 came to confirm that UBI alone won't solve the problem - capitalism must end now!

globinfo freexchange
Who would have thought that a virus would force governments around the world to dig up some Socialist policies to tackle the pandemic? And we mean real Socialism, not "Socialism for the rich", like the one during the 2007-08 financial meltdown, when the governments bailed-out the parasitic banking sector with tons of money instead of letting it pay the price for the huge damage it had created.
Central banks have fed again the voracious mouths of the bankers with trillions, keeping in life support an already broken system. Yet, many governments in the West took action contrary to the typical and failed recipes of the neoliberal "gurus" of financial capitalism. 
You see, things are getting serious. And many governments realized that they had to take action, instead of just waiting the "invisible hand" of the free market to do the job. No time for games.
Besides, the "invisible hand" was completely absent when the storm appeare…

Γενική πρόβα για ιδιωτικοποίηση του τομέα της υγείας από το Μητσοτακικό καθεστώς εν μέσω πανδημίας

globinfo freexchange
Σε χθεσινό άρθρο, αποκαλύψαμε τη νεοφιλελεύθερη ζούγκλα που επικρατεί στο χώρο της υγείας στις Ηνωμένες Πολιτείες. 
Όπως είχαμε επισημάνει, δεδομένου ότι στην άκρως νεοφιλελεύθερη Αμερική τα δημόσια νοσοκομεία είναι έννοια σχεδόν άγνωστη, η εικόνα που σχηματίζεται ισοδυναμεί με τον απόλυτο εφιάλτη, ειδικά σε καταστάσεις συναγερμού, όπως αυτή που διανύουμε λόγω της πανδημίας. Στα ενδιάμεσα στάδια της πυραμίδας του κέρδους δεν υπάρχει πουθενά κάποια δημόσια παρέμβαση που να λειτουργεί ως δικλείδα ασφαλείας για τον μέσο Αμερικανό, έτσι ώστε να εξασφαλίζεται η θεραπεία του, τουλάχιστον σε έκτακτες περιπτώσεις σαν αυτή που βιώνουμε.
Αντίθετα, η πλήρης ιδιωτικοποίηση και εξαγορά ουσιαστικά του πολιτικού συστήματος από τις τράπεζες και τις μεγάλες εταιρίες, έχουν εξαφανίσει κάθε ίχνος ηθικής, με το όλο σύστημα να επιδιώκει τρόπους μεγιστοποίησης του κέρδους την ώρα που οι άνθρωποι πεθαίνουν. Πολλοί από αυτούς, επειδή απλά δεν έχουν αρκετά χρήματα για θεραπεία…

It's actually the liberal elites that are now on the ropes, not Bernie Sanders

globinfo freexchange

Bernie Sanders' latest defeat in another round of the Democratic presidential primaries was received by most of the liberal corporate media almost as his political ending. Just take a quick look at the headlines. You will immediately recognize a bizarre anxiety by most of them to portray Joe Biden as the ultimate winner in the mother of all battles.
One more time, the liberal apparatus has been exposed, giving one more evidence that the liberal elites are considering Sanders as a biggest threat than even Donald Trump. One more time, the liberal establishment completely justified the perception circulated among many progressives: corporate Democrats would rather lose to Trump again than give Sanders the leadership of the party.

So, why all this anxiety?

First of all, the primaries are not over yet. Sanders may have suffered another defeat, but he won't give up easily. And the fact that he is still there, ready to crush Biden in a debate with just the two of…

Η πανδημία ακυρώνει προσωρινά τα σχέδια των νεοφιλελεύθερων τζιχαντιστών του Μητσοτακικού καθεστώτος

globinfo freexchange
Η αυτοδυναμία που πήρε η χειρότερη δεξιά της μεταπολίτευσης στις τελευταίες εκλογές, άνοιξε διάπλατα το δρόμο στη φράξια των νεοφιλελεύθερων τζιχαντιστών της, προκειμένου να πραγματοποιήσουν την τελική τους επέλαση ενάντια στο κοινωνικό κράτος.
Είναι σίγουρο ότι στα σχέδια υπήρχε η ιδιωτικοποίηση και του Εθνικού Συστήματος Υγείας, καθώς η φράξια ενισχύθηκε σημαντικά με την εκλογή φανατικών του νεοφιλελεύθερου δόγματος, όπως ο Μπάμπης Παπαδημητρίου.
Ήδη κάνουν το γύρο του διαδικτύου τα ηχητικά του Παπαδημητρίου που δήλωνε πως "Από τα κρατικά νοσοκομεία τα μισά τουλάχιστον πρέπει να κλείσουν. Γιατί είναι φορείς ασθενειών, γιατί έχουν πρόβλημα ...", με τον Άρη Πορτοσάλτε να συμφωνεί και να επαυξάνει λέγοντας πως πρέπει "όχι απλώς να κλείσουν, αλλά να γκρεμιστούν". 

Όμως η επέλαση της πρόσφατης πανδημίας, λόγω κορονοϊού, έμελλε να αναβάλει, τουλάχιστον προς το παρόν, τα "υγρά όνειρα" των φανατικών του Μητσοτακικού καθεστώτος για αθρόες ιδ…

April 1st 1957: the day Western mainstream media officially became masters of propaganda through a seemingly innocent April Fools' Day joke

globinfo freexchange 
In 1957, BBC conducted a very interesting experiment. The spaghetti-tree hoax was a three-minute hoax report broadcast on April Fools' Day 1957 by the BBC current-affairs programme Panorama, purportedly showing a family in southern Switzerland harvesting spaghetti from the family "spaghetti tree".
At the time spaghetti was relatively little known in the UK, so that many Britons were unaware that it is made from wheat flour and water; a number of viewers afterwards contacted the BBC for advice on growing their own spaghetti trees.

Decades later, CNN called this broadcast "the biggest hoax that any reputable news establishment ever pulled".


This "innocent" farce showed dramatically the unimaginable power of TV and the mainstream media to shape massively the minds of millions. Earlier, Freud's young nephew, Edward Bernays, had set the foundations of modern propaganda.

It is worth to add that the technology of real-time video man…

Συνεχίζεται ο εμπαιγμός από το Μητσοτακικό καθεστώς: εν μέσω πανδημίας, αντί να ενισχύσει το ΕΣΥ, το διαλύει!

globinfo freexchange

Γνωρίζαμε ότι η φράξια των νεοφιλελεύθερων τζιχαντιστών του Μητσοτακικού καθεστώτος είχε ως κεντρική αποστολή να ξεπουλήσει τα πάντα και να ιδιωτικοποιήσει το Εθνικό Σύστημα Υγείας. Δεν μπορούσαμε όμως να φανταστούμε, ότι οι φανατικοί του Μητσοτάκη θα έφταναν σε τέτοιο σημείο, ώστε όχι μόνο να εμπαίζουν πολίτες, γιατρούς και νοσηλευτικό προσωπικό, αλλά και να βρίσκουν μιας πρώτης τάξεως ευκαιρία, με αφορμή την κρίση, να συρρικνώσουν, αντί να στελεχώσουν το ΕΣΥ!
Είναι χαρακτηριστική η ανακοίνωση που έκανε η βουλευτής του ΣΥΡΙΖΑ στο νομό Καστοριάς, Ολυμπία Τελιγιορίδου, για τον απίστευτο εμπαιγμό των κυβερνώντων, οι οποίοι αρνούνται, ακόμα και τώρα, να στελεχώσουν το νοσοκομείο της πόλης με νέο προσωπικό και μάλιστα σε μια περιοχή που έχει πληγεί ιδιαίτερα. Όπως ανέφερε η βουλευτής: 
Με χαρά άκουσα αρχικά την ανακοίνωση του Υπουργού Υγείας κ. Κικίλια και του Υφυπουργού Πολιτικής Προστασίας κ. Χαρδαλιά πως έφερε γιατρούς στο Νοσοκομείο Καστοριάς.

Ψάχνοντας το θέμ…

Capitalism evolves into a giant clusterfuck

failed evolution
Coronavirus came to give the final blow to a system that was already spinning out of control. Here are three videos (just a sample) of the non-linear, chaotic trajectory that the capitalist system now follows:

AND

We are now at the point where no one seems to know what the hell is going on and how to fix this broken system.

Dear Berners: Dementia Joe is how much “your” party HATES you

by Paul Street
Part 6 - Deleting Dementia: A “Classic Orwellian” Moment

I could go on but won’t because doing so would be too depressing and start to feel like able-ism and elder-abuse. Glen Greenwald is correct:
it is visible to the naked eye that the 77-year-old six-term Senator and two-term Vice President is in serious cognitive decline…That is a grave matter not just because the establishment wing of the Democratic Party wants to put him in charge of the world’s most dangerous nuclear arsenal, a large chunk of the planet’s health, and the welfare of hundreds of millions of people, but also because it directly pertains to whether he can sustain the rigors and spotlight of a General Election against the incumbent President. And multiple incidents over the past couple weeks — from Biden’s forgetting the words of the most iconic and memorized passage of the Declaration of Independence to confusing his wife for his sister to spouting sentences that make no sense — have only intensified…