Black People : Wall Streets war Against Main Street

Discussion in 'Black People Open Forum' started by Ankhur, Mar 2, 2010.

  1. Ankhur

    Ankhur Well-Known Member MEMBER

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    Wall Street’s War Against Main Street America


    By Prof. Michael Hudson

    Global Research, February 17, 2010


    Former Treasury Secretary Hank Paulson wrote an op-ed in The New York Times, (Feb. 16)[1] outlining how to put the U.S. economy on rations. Not in those words, of course. Just the opposite: If the government hadn’t bailed out Wall Street’s bad loans, he claims, “unemployment could have exceeded the 25 percent level of the Great Depression.” Without wealth at the top, there would be nothing to trickle down.



    The reality, of course, is that bailing out casino capitalist speculators on the winning side of A.I.G.’s debt swaps and CDO derivatives didn’t save a single job. It certainly hasn’t lowered the economy’s debt overhead. But matters will soon improve, if Congress will dispel the present cloud of “uncertainty” as to whether any agency less friendly than the Federal Reserve might regulate the banks.



    Mr. Paulson spelled out in step-by-step detail the strategy of “doing God’s work,” as his Goldman Sachs colleague Larry Blankfein sanctimoniously explained Adam Smith’s invisible hand. Now that pro-financial free-market doctrine is achieving the status of religion, I wonder whether this proposal violates the separation of church and state. Neoliberal economics may be a travesty of religion, but it is the closest thing to a Church that Americans have these days, replete with its Inquisition operating out of the universities of Chicago, Harvard and Columbia.




    full article;
    http://www.globalresearch.ca/index.php?context=va&aid=17667
     
  2. Destee

    Destee destee.com STAFF

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    Brother Ankhur ... you are including a link with the article, that is good, but even with that, you can't include the entire article ... please review rule # 2.

    I've deleted the majority of it this time, and know i've already warned you about this before, so be careful.

    This may be your last warning about this rule, before being permanently banned ... and know ... others won't even get this.

    This is some special stuff ... just for you ... :love:

    Love You!

    :heart:

    Destee
     
  3. Ankhur

    Ankhur Well-Known Member MEMBER

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    my apologies
     
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