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For Captured Regulators, Repealing the Volcker Rule Is Child’s Play


#1

For Captured Regulators, Repealing the Volcker Rule Is Child’s Play

Richard Eskow

Perhaps the most condescending and unintentionally revealing comments any banker made in the wake of the banker-created 2008 financial crisis came from Jamie Dimon, CEO of too-big-to-fail bank JP Morgan Chase.

"One thing's for certain: if there's another financial crisis, it could make the last one look like child's play."


#2

Let’s remember that while the poor and middle class are indeed being bilked by this chicanery, the “wealth” is largely being extracted via externalities such as climate change, plastic pervasiveness, etc.–things that affect all life on earth. Of course, money cares nothing about life, and never has.


#3

The Entire economic system is based on debt and more debt. All of this “Growth” is fueled by people unable to keep their heads above water with the wages they earn going into debt to fuel consumption. As this debt grows they have to borrow more money to pay back that debt.

The Banking system through what is called “Financial Innovation” is now investing in this debt because it will garner a “return”. They have their greedy little paws in there using the debt of the masses to gain control of all real assets while ensuring the Governments will bail them out when their own shenanigans might risk economic collapse.

Those “Hedge Fund managers” making all of those millions produce NOTHING. A Farmer produces more and all that Hedge Fund Manager does is exist off that Farmers labor, extracting wealth from it even as that farmer goes into debt to produce something real.

The banking system, the Investor class and the entire rotten thing we call capitalism is one where those with all of the money and wealth, those claimed as “self made” and “wealth creators” are in fact parasites.


#4

I want to see where it is written that when the banks deliberately crash the economy that the American people have to bail them out. I’m sure that isn’t written anywhere.

On that note make sure that you don’t have any money in the big banks when they crash the economy again because this time they get to keep people’s money just like what happened in Greece. Greece is the laboratory for seeing how that works. It worked just fine.