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As Massive Handout Sails Through Senate, Big Banks Send Democrats and GOP 'Sweet Thank You Note' for Doing Their Bidding


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As Massive Handout Sails Through Senate, Big Banks Send Democrats and GOP 'Sweet Thank You Note' for Doing Their Bidding

Jake Johnson, staff writer

Big bank lobbyists have worked tirelessly to shape the massive deregulatory bill currently making its way through the Senate, and on Monday 13 financial institutions delivered what Sen.


#2

$30 billion? More like $80 billion/month for many years during QE 1, 2, & 3, or has that gone down the memory hole?


#3

“A billion here, a billion there, and pretty soon you’re talking about real money.”
—Sen. Everett Dirksen, many, MANY years ago.

A “sweet thank you note” to Congress—and a big “eff you” to the hard-pressed US taxpayer.


#4

It’s a closed loop system. Those billions come back to the turncoats as campaign donations. Nice gig!


#5

Bribing US politicians has a higher return on investment (ROI) than any other business model in history.

Billions in bailouts ???

Based on page 131 of Government Accountability Office report GAO -11-696 Congress put US taxpayers on the hook for more than $16 TRILLION in various too-big-to-fail bailout schemes as of June 2011.

Those banks controlled 25% of US bank assets when they crashed the economy in 2008 and now control more than 50%, with no end in sight of their march to monopoly.

With sacred cow military funding being untouchable, Social Security and Medicare are the two biggest sources of money to fund the next round of multi-TRILLION dollar bankster bailouts.


#6

The United States of Goldman Sachs would be far closer to the truth…


#7

She’s probably right. Look at the list, it does have some large banks, but not the biggest of Wall Street, where most of the bailout money went.

Thanks Ray for calling them what they are BRIBES. We have to stop framing these situations with their words.
They are bribes, not campaign donations.


#8

It’s already happened. From the Huffpost, 04/05/2011: “The government has borrowed more from the Social Security surplus than it has from any other source in the world, including China. As a result, Social Security now “owns” nearly 18 percent of the federal debt, making it the largest single holder of US debt. The government owes almost twice as much to Social Security as it does to China and Hong Kong.”


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The American economic system overseen by the FED and it’s co-rulers is all about debt. This bill will extend more debt to those who can’t pay what they have to now. We are no longer a nation of “We the People”, but, “We the Banks”…we will slowly suffocate under the burden of unpayable debt and disappear from the dusty pages of history. Begone!!


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Have any of you CD readers experienced ANY mainstream media coverage of these current Congressional actions, bail-in, etc ?

Guess the steel/aluminum tariffs, etc. are a successful distraction.


#12

Anyone here think that the parties of the Duopoly were working for the masses on this one?

I rest my case.


#13

Exactly. It just goes to show you can’t trust Warren to be honest either. She could have used a more realistic figure but chose to downplay the damage done.
Its like saying " The Pentagon spent $5 million on the military last year."
Yeah, that and much much more.


#14

None of the banks should have been bailed out. Let failure fail, that’s what really scares them. Laws they can work. The laws of economics, not so much, and that’s what they fear.


#15

Con? gress. Congress needs to change the pledge of allegiance to what it really is: WE PLEDGE ALLEGIANCE TO $$$$$$$$$$$!


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“Guess the steel/aluminum tariffs, etc. are a successful distraction.”

As is RUSSIA! RUSSIA! RUSSIA! RUSSIA! AD NAUSEUM!!!


#17

When was the last time the duopoly worked for the masses?! (crickets)


#18

Exactly.

That’s why I am such a broken record here on Common Dreams.


#19

This is basically a Corporate Mafia working inside our government —
and we had best start doing something about it before everything has been moved
into the hands of Elites and we’re bankrupt.

The time to fight back is when you are strong – not when you have been thoroughly weakened.

The LEFT must unite together and stop the nonsense of each organization fighting alone.

We can fund them – we did it with Bernie Sanders and we can do it as legitimate candidates rise.

PS: Where is the feminist movement/leadership on fighting for gun control?
Women in US are 11X more at risk than women in other wealthy nations of being shot by a male
with a gun!