It was supposed to be a feel-good moment.
Thank you for saying this as it is seldom to never heard. And when I've mentioned as much in the C.D. forum, the Status Quo Guardians/gatekeepers insisted it was $700 billion and all of it was repaid. Yeah, right!
There are all sorts of economists ranging from Paul Craig Roberts to Harry Dent to Gerald Celenti who explain that the Baltic Dry Index (which relates to how much shipping is going on between nations' goods), currency evaluations, and commodities prices (just look at oil!) are ALL down. And that the genuine economy based on actual goods, labor, and services has been so dangerously "hedged" to the faux economy based on bets on loans and other "exotic instruments" that the exposure is into the MANY trillions.
Just as U.S. banks are permitted to loan money that they don't actually have (this little game is known as "fractional reserve banking"), it's also true that items like gold and silver are traded on Wall ST. in a similar manner. The premise is that not everyone who holds a gold or silver certificate will make an attempt to claim it (the actual goods) at the same time.
The entire system is about to collapse. The only "remedy" has been printing money to maintain the fraud.
So few hear the truth about what's at stake! (Of course, it's largely the blackout on the REAL story that allows the con to continue on since any con, and the entire global economy has largely become one, relies upon the CON-fidence game!)
"For example, the two big post-Crash bailouts were built on exactly this type of compromise. And yes, there were two bailouts. There was the highly-visible, widely-reported $700+ billion Troubled Assets Relief Program (TARP). But there was also a host of “other,” often-secret bailouts and programs that may cost somewhere around $4 trillion to $7.7 trillion or, according to one accounting, as high as $16.8 trillion. Most Americans are unfamiliar with those side-deals built on Washington’s reliable willingness to compromise with Wall Street."
And for Hillary to protect Wall St. while PRETENDING to be a Populist is ludicrous in the extreme.
Let's play connect some dots!
"Most telling, though, is that during Dodd-Frank’s crucial “rulemaking” phase — when the Congressional prose turns into Executive regulations — revolving-door regulators wrote the law’s actual, functional rules in collaboration with the very bankers and financiers Dodd-Frank was meant to contain in the first place. And now Congress has begun to dismantle this already compromised law with, for example, a new law relaxing its “restrictions” on derivatives."
This is just like the way the so-called Obama Health Care Plan came into being. Tell the people it's a reform that will make insurance affordable while doing away with DIRECT access to health-care giving facilities... and allow the Big Insurance Companies to write the legislation... oh, and add annual increments to mandatory bills!
Of course, the really big enchiladas are the TIPP and TPP... again, it's Industries and Corporate behemoths writing the BINDING legislation that then becomes the enforced law of the land. Done in absolute secrecy. Done to grant total primacy to the global profiteers (pirates of the 21st century who view everything in the world as THEIR spoils of battle) while literally eviscerating any POSSIBILITY of citizen opposition or redress through open, Democratic legal channels.
I don't know the exact laws that made it possible for an entity like Wal-mart to essentially cannibalize retail as it formerly existed... after all this giant subsumed all the mom and pop Main Street businesses unto itself by offering drugs, food, car products, and just about everything else.
When corporations centralize power to the extent that banksters, Wal-mart, Big Pharma., Big Agri., and Big Media have... Democracy is rendered null and void. We all become subjects of the new global corporate pharaohs. Heck, they're even writing LAW to that effect.
The revolving door also applies to the generals exiting the armed forces to take positions as CEOS or otherwise as influential board members at weapons' making firms. Anyone who doesn't see the relationship between this atrocity in slow motion and the planning and execution of actual wars (the best way to "move product" or weapons inventory) is dreaming.
A timely article. I had mentioned several months ago that Dodd frank acted to help destroy Community Banking thereby eliminating competition for the big boys. It good to see that being distributed to a wider audience.
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The "$16.8 trillion accounting" the author mentions (and you quoted) was a report issued by the Government Accounting Office (GAO) in June 2011 and does not take in to account any additional bailout schemes since that time. I recently heard that the total amount of taxpayers' money committed to bailout schemes now exceeds $26 trillion, enough to pay for the first decade of Bernie's Medicare for all, and still leave enough to subsidize a lot of college costs.
When Hillary says "we can't afford Sander's proposals", she forgets to add that as long as the best congress money can buy keeps bailing out its paymasters.
The only logical explanation is that many Murkins are afflicted with terminal denial syndrome and look at politics the same way they look at sports...they are all in for their team.
Yeah. Anytime they use the word "REFORM" as if it's a good thing...watch out!
There's a scary confluence.
Some who study international policies see a pending WW III likely based upon too much provocation of Russia.
Some who study economics see a full systems global financial collapse.
Those who study nature (Hansen and others) see a "Game Over" for mankind while Social Anthropologists are using the frame that "Earth is in Hospice" stages now.
Add in End Times.
I'm sure it must have felt like The End to those enduring the Civil War, and it must feel that way for citizens of Syria now. And those hearing the bombing raids over Europe during WW II or those stuck in Concentration Camps must have also thought in these terms.
However, I don't think there's been a prior generation that faced the triumvirate of fiscal, environmental, and war-oriented collapse simultaneously with worldwide implications for all of them.
In other words, in the past, there were new vistas to explore, more natural resources to still exploit (with virtual seeming impunity) and far less a sense that TIME had run out for making the necessary remedial changes.
I feel despair today.
There's even an individual who works at the Space observatory in Arecibo, Puerto Rico who says he's been on the team seeking CONTACT for years and that for the past few they've gotten it. And the message relayed is that a POLE SHIFT is coming up.
About 20 years ago a book came out entitled, "Pole Shift" written by a clairvoyant named John White. Edgar Cayce spoke of one, too. And the Hopis have been pretty keen on this idea of a 6th world emerging from the death of this one.
200 species a day go extinct now.
The state of the oceans is abysmal.
The various tipping points in the way of climate/weather dangerous upticks goes BEYOND what computer models can register or decipher.
Guy McPhearson says the best we can do now is show love to those around us...
Quite a few see NO human life past 2030.
Persons conveniently dismissed as "Conspiracy Theorists" are exposing the FACT that the U.S. military-deep state has LOTS of underground tunnels and there's even an outfit renting tunnel apartments with food, etc. for a high sum.
I'll see if I can find a link to share.
... Not a happy camper...
“dangerous moment” for Wall Street
You got that right, and it is perfectly appropriate here and now.
The only compromise you folks consider legitimate is when the left capitulates to you rich elitists with your separate gated communities and separate tax structure, and separate criminal laws and separate planes, in truth, really separate everything you can afford!
Well in this case, Bernie isn't going to compromise with Social Security. You elite folks who took the funding from the Reagan tax increases in the form of tax breaks that allowed you to collectively snatch fully half of the value our hard work and increased productivity created. Now that it's time to pay back those bonds, you want a bye!
Personally, I don't want to learn of the creation of one more billionaire! You did not earn that wealth by yourselves! Furthermore, I can't abide you avoiding paying your fair share of taxes any more by "philathropically" distributing that money in ways that don't address all the issues, just your personal favorite ones. And if they just happen to coincide with what your investments need to grow, so much the better.
I'm done with you. That's why I'm voting for Bernie.