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“The Big Short” and Bernie’s Plan to Bust Up Wall Street


#1

“The Big Short” and Bernie’s Plan to Bust Up Wall Street

Robert Reich

If you haven’t yet seen “The Big Short” – directed and co-written by Adam McKay, based on the non-fiction prize-winning book by Michael Lewis about the housing and credit bubble that triggered the Great Recession — I recommend you do so.


#2

Those of us who voted for Obama in 2008 were too strung out on hopium to be aware of how he had taken so many millions from Wall Street banks. Do you think they did that out of the goodness of their black hearts? It behooves us to look very closely at WHERE THE CAMPAIGN MONEY IS COMING FROM... although it's harder now with the politicos awash in black money.


#4

It should be noted that Chelsea Clinton's husband, Marc Mezvinsky, is a hedge-fund founder/manager. Does anyone think Hillary would do anything that might hurt that parasitic sector or her daughter's family ? How about actions as Sec of State or possible influence on the economic rape of Greece and bailout where Mezvinsky's firm lost big?

Deep the corruption runs.........

http://www.zerohedge.com/news/2015-02-03/chelsea-clintons-husband-suffers-massive-hedge-fund-loss-greek-investment


#5

WS is too much for one man to take on. Bernie wants our help.

Wall Street politicians are the problem. Who needs them when electronic technology can give us direct democracy, decentralized, online, with frequent, safe encrypted voting for every law and automatic voter registration that enhances voter turnout?


#6

Apart from ideology (which falls partially under the heading of media), these 3--call it triple M--control societies:

Money, Media, & militaries.

That's why it's so easy for a captured media to not just manufacture, but also codify (and repeat often, until it becomes the learned legend of the land) all Official Narratives.

The story went that Saddam was responsible for 911.

He was not.

The story went to fighting terrorists to make the world safer.

It is not.

The story went that Putin has been showing muscular aggression in Ukraine.

In fact, NATO (and the U.S.) are the ones showing that muscle.

And on and on. That's why the media found it easy to blame low-income home owners (and that meme is widely heard across the right, its right wing radio shock jocks, its Bill O'Reilly, and its political pundits) for what WALL STREET did. And this crime--through the use of weapons of mass FINANCIAL DESTRUCTION was premeditated.

All it required was the rescinding of Glass-Steagall.

And the complicity between Republican Phil Graham and Bill Clinton established that. It was the equivalent of a bank president handing the safe codes over to known felons.

From the article:

"Traders on the Street pushed highly-risky mortgage loans, bundled them together into investments that hid the risks, got the major credit-rating agencies to give the bundles Triple-A ratings, and then sold them to unwary investors. It was a fraudulent Ponzi scheme that had to end badly – and it did.

"Yet since then, Wall Street and its hired guns (including most current Republican candidates for president) have tried to rewrite this history.

"They want us to believe the banks and investment houses were innocent victims of misguided government policies that gave mortgages to poor people who shouldn’t have got them."

The government is demonized to ensure that no private institution can take the heat; and the fundamental mistrust of government also means that no meaningful walls will be put in place to stop the thieves in high places from further fleecing the American public, along with citizens in Greece, Puerto Rico, Spain and wherever else THEIR illicit buck(s) stops!

Media in corporate hands allows lies to be told often without any opposing narrative to expose the crimes (that go on) in high places.


#7

And why didn't they go to trial? Why do these big money types have to have more, and take from others? That is psychosis.


#8

By the way, a teacher and her buddies have a case ( Friederichs versus California Teachers Association) at the Supreme Court. Apparently, they do not want to be "forced" to pay union dues, and have the union collectively bargain for them . This does not look good for public unions; one of the last vestiges of unions in the US. Apparently it is backed by right wing extremists including an education association that supports the teaching of creationism. This is another example of right to work for less; only this time it is being done at the inside. Why should teachers and unions get attacked when Wall Street and it's hacks got away with crashing the global economy? They did not even go to trial, and were bailed out by tax payers. Some even got golden parachutes. Now, they got away with that and they want more! This supreme court case is being backed apparently by guess who? The Kochs.


#9

a Bernie pipe dream, the ppl that would vote on breaking up the 'too big to fail' gang are the same ppl that are getting the money from the 'too big to fail' and its just not reasonable to believe that's ppl will vote to cut their money sources.


#11

If it even begins to look like Bernie will take the Democratic nomination from Hillary... I fear for his life.


#12

For their participation in the 1980s savings and loan scandal (SLS) more than 1000 bankers served jail time.

The SLS affected a few hundred thousand Murkins.

Due to two decades of decriminalization (media called it deregulation) most of it signed by Bill Clinton, financial crime was no longer a crime in 2008, so no indictments or trials were possible for the 2008 meltdown that affected billions of people on every continent, an event that made SLS look like a boutique crime by comparison.


#13

Clinton signed it, but it was Phil Graham and empowered Republicans who pushed it. And none of this "govt. is bad, better deregulate everything!" frenzy could have happened without Reagan.

If we agree that the system is corrupt and that corruption is therefore systemic, then in fairness, it makes no sense to put all the culpability on Democrats. Many of them--to their credit--still support unions, environmental protections, decent salaries for workers, etc.


#15

Be need bold measures Bernie is willing to push, not the tepid plans Clinton proposes.


#20

The Courts and Congress are working together to insure campaign donations (bribes) cannot be traced back to the donor.
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Just thought I'd state in more basic language the phrase appended to your comment above.


#21

This was my plea throughout the bush-2 regime. First, we have to vote every republican who comes up for election out of office by voting for any Democratic, independent or third party candidate that is running. Once the House and Senate have been swept clean of right wing fanatics and their cohorts, in the next election we have vote every Democratic office holder out of office. Finally, we have to remember to vote out those who were voted in to replace the career politicians in the following voting cycles.
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By leaving remnants of the American power structure in office, the infection remains and will inevitably rise from the ashes.


#22

Who's going to watch and make sure the computer programmers writing the software are not Wall Street shills?


#23

It may well be psychosis, but the disregard for how the actions we take affects others is the realm of the psychopath. Two different mental/emotional disorders.


#24

You aren't alone.


#25

"The difference between Democrats and republicans is this:

"Democrats use armed drones to keep Americans safe by attacking the envious enemies of American freedom in foreign lands, whether or not innocent civilians are wounded and killed in the process.

"If they had been available at the time, republicans would have used armed drones inside the Astrodome to quell public unrest during the Hurricane Katrina debacle."


#26

Thank you. Open source is crucial.


#27

Not Diebold, but 300 million people.

Snowden recommends encryption for security.