Thursday, April 2, 2009
Rolling Stone Article on the Truth Behind the Bank Bailouts
OMG, this article by Matt Taibbi just pushes me over the edge. I've been following all this stuff since I first heard of credit default swaps a couple years ago, but this article presents all the grisly details.
Here's two quotes that kind of sum up the situation (though they are not a summary of the article itself by any means) :
"...on the linear spectrum of capitalism to socialism, where exactly are we now? Is there a dictionary word that even describes what we are now? It would be funny, if it weren't such a nightmare."
"'Actually, come to think of it, why are we even giving taxpayer money to you people? Why are we not throwing your ass in jail instead?' But before you even finish saying that, they're rolling their eyes, because You Don't Get It. These people were never about anything except turning money into money, in order to get more money; valueswise they're on par with crack addicts...."
Either we can kiss the US capitalist system goodbye, or all the common people will be wage slaves working (if they are lucky) for those who are now in the process of outright stealing trillions from the US treasury and the Federal Reserve through a non-transparent process.
It makes me think of Henry Potter, when I hear about the big banks getting access to the TARP loans and other loans, and all the regional and small banks that were much more judicious about their lending practices have not gotten any money yet? Shame on the federal reserve and the US treasury, and everyone who let it get this bad.
lyrics: "We feed the cats to the rats, and the rats to the cats, and get the cat skins for nothing!"
lyrics: "We feed the cats to the rats, and the rats to the cats, and get the cat skins for nothing!"
From How to Skin a Cat, by Husker Du
colors: Black and Red. Mostly red. Not sure whether blood red, or red ink. Or blood used as red ink.
mood: Nervous.
chant/prayer/mantra: For a return to humanity's wholeness, and not this separateness.
pax hominibus,
agape to all,
joel
colors: Black and Red. Mostly red. Not sure whether blood red, or red ink. Or blood used as red ink.
mood: Nervous.
chant/prayer/mantra: For a return to humanity's wholeness, and not this separateness.
pax hominibus,
agape to all,
joel
Labels: classism, economics, freedom versus freedom, indifferent corporations, oppression, theological sources, USA
