He learned his lesson from the Senate and will do nothing it wants.
We are living in a kleptocracy with all “checks and balances” corrupted to serve the elite.
For Christ’s sake, WTF goes on here? Are we now so gullible after things like pallets of cash and weapons disappearing in Iraq, that we give the keys to a car thief?
…transferred to the elite.
Yes, with valet service.
Would that be the same car thief that stole your car the first time? Well yeah ever since we gave him the garage door opener, he just finds it easier to stick with a winning plan!
The lesson he learned from the Senate is that he can get away with almost everything. Trump is literally going as far as may be possible just to see how far he can go and still get away with it.
He could take it so very far that even his enablers in the Senate might come to regret that they gave any individual such free rein in a democracy. Right now greed and the lust for power hold sway but if after they have gotten all that they want, with human nature being what it is, Trump or a future (unknown) successor might keep on taking because by then the means of preventing such excesses may have already been given away.
Every corporation that receives bailout monies should be made to dismiss that Same amount in consumer debt it holds.
How the heck are the 1 percent and the Politicians to reap the most rewards off the Stock market if the Public has the same amount of information as they do regarding which firms are going to receive those monies?
Note the Vulture Capitalists including JP Morgan are already buying up the Corporations that are in trouble in anticipation of them being bailed out.They want to be able to do that as cheaply as possible.
Now look at this scenario as example. A bank is exposed to billions of dollars of bad loans they made to an oil firm. The bank buys up said firm. They write off the debt they now owe themselves as a bad loan and get a tax refund on that. They then get Money from the Government via Mnuchin comprised of both monies paid to the firm they bought which the Government gives to “save jobs in the oil industry” and monies the bank itself receives for “exposure to bad loans”. The stock prices of said Oil firm now rise.Those Freedom fries are swimming in a pool of a quadruple dip gravy train.
Those Senators want them a piece of THAT action and it not going to happen if everyone in on it. Economist are right you know. There is an “invisible hand” and it belongs to the one percent and is out there picking everyone else’s pockets clean.
It seems to be a calculated risk by republicans. Take full advantage now, and hope they can stop or hold back a different party from doing the same to republicans. Maybe taking it for granted democrats will fold when confronted with the crap the right has pulled. There is a time to be mello, this isn’t it though.
Gandolf first, then Rocky Mtn View and Wereflea clearly have picked up the scent and trail. The link between Quantitative Easing for the lenders and penury with debt servitude for student debters and those who went into debt to avoid homelessness in states with no rent control as the financialization of real estate bid-net model kicked into gear. All set against the last 50 years of Wage Stag-Nation as worker productivity soared and Vulture Capital swept in to harvest the gains the workers and on-site management sweat-equity combined to create.
Was that blowback from the decades of weaponizing Neo-Liberal E-CONomic doctrines turned into Cold War propaganda and meant to warn away social safety net building Nordic and Euro states along with non-aligned developing nations of the so-called Third World? Don’t label it Neo-Liberal when in the U.S. and elsewhere the Neo-Cons who abandoned Old School conservatives like Richard Nixon when he froze wages and prices to combat runaway inflation in the U.S. and helped fuel more endless wars in the name of protecting the privileges of Market Forces (really corporate feudalism gussied up for the new Feudal Lords of High Finance\Tech, Wall Street’s hostile take-overs of Main Streets the trans national trading world over).
CD Reader and analyst Gandolf is correct here to draw a line between the never properly audited pallets of cash minted and air-dropped over Iraq after the access to oil-driven invasion of 2003 that Federal Reserve Chairman Alan Greenspan bragged about rationalizing in his published memoirs and that Greenspan tried to defend using the Islamist Threat of a few isolated medieval extremist “dead-ender” terror cells in order to secure the Big Prize of the carbon-fueled 21st Century. See Amy Goodman and Naomi Klein’s cross-examination on DEMOCRACY NOW when Greenspan ventured off the media reservation to sell even more copies of his Zombie E-CON memoirs:
Both the Neo-Liberals and Neo-Cons came to dump Protectionism and America First’s tariff structures designed to prevent internal U.S. markets with rising wages and COLA set standard-of-living gains after a century of hard-won labor victories that led to those productivity increases along with the publicly funded R&D of our technical advances. All set aside for the childlike fantasyland of Trickle Down economics and some pagan loyalty to Supply and Demand Zombie Market-driven hierarchies of the off-shore idle capital hoarding elites. While the creation of the first Middle Class with access to affordable Higher Education in U.S. history has been squandered.
Or substitute your own National Interest First policies to open up to the new Feudal Lords backed by the high tech weapons developed in the spreading paranoia by booming Daddy Warbucks. The same Daddy Warbucks that even WW II hero General turned President Eisenhower warned U.S. about in his televised farewell speech after his second term in the White House (study it as it sits posted on U. of Tube, occasionally referenced but rarely used to spark new journalism by the corporate-captured Weapons of Mass Distraction).
Search Prof Saskia Sassen’s work at Columbia U. on the financialization of real estate and those mostly vacant new high-rise condos towering over the sprawling homeless encampments in showcase cities around the world that the Swedish documentary film PUSH and Dr Sassen call “Unfettered global capital safety deposit boxes in the sky…”
Status Quo Joe Biden may be meant to lull U.S. back to sleep, unlike the year-long sustained Yellow Vest in-the-streets worker movement in France that got normalized into non-new by our Weapons of Mass Distraction networks. Given her record as an academic activist and Senator from the bastions of elite Robber Baronism, even idealistic Market Democrat Elizabeth Warren with Bernie Sanders in a Biden cabinet could help undo some of the half century of demolition of the Muddle Class that all to often aided our own demise by surrendering political battle grounds while we were off seeking to spend the gains on Wellness and Tattoo parlor speculative growth economies…
Mitch Ritter\Paradigm Sifters, Shifters and Song Chasers
Lay-Low Studios, Ore-Wa
Media Discussion List
cue the soundtrack to Gandolf, Rocky Mtn View and Wereflea’s chorus of this Dylan chestnut “Sweetheart Like You”:
You know, news of you has come down the line
Even before ya came in the door
They say in your father’s house, there’s many a mansions
Each one of them got a fireproof floor
Snap out of it baby, people are jealous of you
They smile to your face, but behind your back they hiss
What’s a sweetheart like you doing in a dump like this?
Got to be an important person to be in here, honey
Got to have done some evil deed
Got to have your own harem when you come in the door
Got to play your harp until your lips bleed.
They say that patriotism is the last refuge
To which a scoundrel clings
Steal a little and they throw you in jail
Steal a lot and they make you king
There’s only one step down from here, baby
It’s called the land of permanent bliss
What’s a sweetheart like you doing in a dump like this?
The New York Fed, in turn, is signing contracts faster than you can say “ripoff” with Wall Street firms…
The facts (bear in mind, these are the same people (below) that fund many congress members campaigns):
… That leaves $1.7 trillion versus the $4.54 trillion that will be offered to Wall Street, or $2.84 trillion more heading to bail out Wall Street.
But the Fed had already created another Wall Street bailout program last year that is not included in that $4.54 trillion. The Fed’s repo loan program has already funneled more than $9 trillion to Wall Street in revolving loans since September 17, 2019. So that makes it $13.54 trillion for Wall Street versus possibly $1.7 trillion for Main Street, if it’s not siphoned off by loopholes in the new law. (Those repo loans, as of yesterday, were being made at the preposterous interest rate of 1/10th of one percent to Wall Street firms; firms that couldn’t even borrow at 10 percent in September.)…
The Federal Reserve is, in turn, handing almost all of this money over to the New York Fed, which is privately owned by some of the largest Wall Street banks: JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley, for example. (One funding facility, the Money Market Mutual Fund Liquidity Facility, will be run by the Boston Fed.)
Otherwise known as a shithole country.
Some societies cut off the hands of thieves.
In our country, the majority of the voting electorate choose to keep the two major political parties responsible for this thievery in power, election after election.
This addiction is killing us.
Jesus taught us to love our enemies, however, he was very critical of how the “Money Lenders” were using God’s temple to play out their usurious plans. He smashed their tables and broke up their business.
Might We the People learn from that?
Or might we just stay addicted to our teachings from these two corrupt political parties?
Like the lyrics. Gonna look up PUSH. Anything from Sweden grabs my attention.
Mandatory disclosure should be a basic component of the bailout, but once again Congress shirked its responsibility to represent the American people. It’s the people’s money and so transparency should be automatic.
Trump being exonerated from impeachment by the Senate, has learned that he now has dictatorial powers!
Ironic story about Jesus and money lenders (exchangers). It was more than usury as
they were not actually lending money but is exact to today’s financial scams.
The Jews were not allowed to use silver and gold coinage with images on it to buy goats,
sheep and pigeons for sacrifice at the temple. The pilgrims that came by the thousands
were forced to exchange their silver and gold coins for ‘temple coins’. There was a
20% exchange rate penalty. The collected coinage of the Roman realm was taken under the
temple, struck with a blank stamp to remove the image and recycled upstairs.
Fortunately for the Jews, they did not have the Federal Reserve, a consortium of large
private banks (American AND European). The silver and gold would have been exchanged
for a FEDERAL RESERVE NOTE based on thin air…since Nixon Admin.