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There Has Been "Social Unrest" for Far Less: Obama Lets Criminal Banksters Walk (PBS)

Discussion in 'News & Current Events' started by ManFromUncle, Feb 16, 2013.

  1. ManFromUncle

    ManFromUncle Guest

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    Former Special Inspector General for TARP Programs Neil Barofsky puts the possible final cost of banker bail-outs at $24 trillion, nearly $80,000 for every man woman and child in America. Bloomberg's Bob Avery puts it at $13 trillion, a mere $40,000 per.

    That's college or vocational training, nice down on a house, or upgrade to Cadillac medical insurance for everyone. Instead you are waiting for the bottom to fall out of your 401k stocks so the bankers can snap them up at bargain basement with your money. You can only afford community college even though you've got good grades. They are telling you they need to cut your Medicare, and you'll be lucky if Social Security even exists by the time you get old. You'll be eating dog food and living in public housing with no heat. Meanwhile the 1% is sinking big bucks into luxury bunkers and offshore villas in case the rabble doesn't like the new arrangement.

    Bankers in Iceland have gone to jail for far less.

    Even lifelong Wall Street defender Alan Greenspan, the former Federal Reserve Chair, said in Congressional testimony that "a lot of that stuff was just plain fraud."

    Printing: The Untouchables: How The Obama Administration Protected Wall Street From Prosecutions

    [youtube]64eI831eKY8[/youtube]


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  2. wmpratt

    wmpratt Ask me why!

    162
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    For starters, the so-called financial meltdown was caused by CRA and made worse by TARP, Stimulus, obamacare and tax hikes. Second the govt didn't have to (nor should they have) given any money to any private corporation. Would you hand a man a dollar then chastise him for taking it?
     
  3. ManFromUncle

    ManFromUncle Guest

    +0
    It was caused by fraud, pure and simple. Even Greenspan says so, a banker's best friend. The same as you selling me a car with sawdust in the transmission. No different.
     
  4. wmpratt

    wmpratt Ask me why!

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    Greenspan isn't someone I would consider a good source for advice.

    The simple matter is if the govt cut taxes and reduced regulations in 2008-09 the recession would have ended in a few months. Works every time its tried.
     
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