This week, the SEC settled its fraud case against Goldman Sachs for $550 million (Four days' worth of Goldman's 2009 revenues), without the banking giant having to admit legal wrongdoing or fire any senior executives. On the same day, Congress passed a financial reform bill that left Wall Street's too big to fail banks bigger and more powerful than ever. Also gaining power: Tim Geithner, who continued to carry Wall Street's water by letting it be known behind the scenes that he opposes making Elizabeth Warren head of the new Consumer Financial Protection Bureau. Elsewhere, a federal appeals court ruled that uttering a fleeting expletive on TV wasn't obscene. If only an appeals court could do something about the obscenity of the Supreme Court allowing corporations to spend unlimited amounts on political campaigns. Another obscenity in the news: word that more American soldiers killed themselves last month than any month on record.
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So few in the media do.
Too much of the middle class believe they are in the same social club with Goldman Sacks and that these delusional Republicans are blaming their high taxes are used to support the those on entitlement programs, programs that are actually paid for with workman's Social Security contributions.
And these supporters are ignorant that SS Surplus funds have been used for running the government instead of taxing the the super rich to help run the government.
Another aspect the Supporters of the super rich seem to ignore, is that the super rich very often end up paying less taxes through the legal loopholes their high priced accountants manage to manipulate through.
Two reasons why these middle class workers support the Super Rich Bankers: Either they are Convinced that the Trickle Down theory works for the working Middle Class and their jobs depend on giving the rich tax breaks they will invest to create jobs OR they think that they that someday they will be among the Super Rich and can take advantage of income tax holes.
Fifty years ago it was possible to get rich working, but today it is virtuously impossible to even rise to the Middle Class. College Students are applying for jobs in China, because all the good paying industries has been outsourced starting with NAFTRA, which was promoted by the Clinton Administration.
Why is our congress using our tax money to pay industries to move out of our country ?.
http://financialterrorists.wordpress.com
but most egregious
join the project - help fill in the blanks.
Rolling Stone Mag wins by default. Hunter S. Thompson shall not have died in vain.
you would think the gulf of Mexico burning alive would be a warning signal to them that everybody including them will be at risk?
If you watch 'establishment' news or CNBS, you'd think we're in recovery and Goldman Sachs has been persecuted by government.
Apparently, for this administration, the word "reform" clearly means minimal enough to call it historical and unprecedented when it really does very very little.
We are disappearing in the Barbama Triangle.
Warren is loathed by the GOP for the very same reason she would be perfect to head the CFPB. She would be on the side of the "small people." So she doesn't have a chance among the centrists and compromisers of the Obama administration.
Goldman Sachs gets off easy because we wouldn't want to rein in the Wall Street casinos in the midst of a nascent recovery. Wall Street's recklessness is viewed as less of a problem than (gulp!) losing market share to foreign financial centers. It's a race to the bottom. Whoever gets there first gets to take credit for destroying the world economy. We almost got to take the prize in 2008 when Paulson said that "raw capitalism is dead," but boatloads of fiscal and monetary stimulus staved off a worldwide depression.
The only true savior of capitalism is responsible capitalism. As long as businesses think it is a right to pursue the profit motive, no matter the consequences, and as long as Americans acquiesce, it will only get worse.
He left a young wife and 2 children.
Every American should be required to attend one military funeral-all those white crosses, row on row.
I live in Texas. I see every day our future if Republicans take over this fall.
You may be unhappy right now, but trust me, things will only get worst if the Dems lose.
Why aren't we( I include myself) showing our support of what we want our President and
Congress to get done for us. I see the tea people but not our people.Ms. Warren would be great. Let's show our support for her. Do we want to end drilling? Then get out in the streets and let
your voices be heard.We need jobs. Business has been sending them over seas since the
1990's. Now business is letting it be know they do not respect our President and are waiting it
out so the Repubs. return for business as usual. Is this what we want? I know I do not. So let's march for jobs, let it be known there are plenty of us who voted for change and we will work for
this change. But it is up to us folks.
really, check the link.
The banksters stole all the money out of the system.
The banksters robbed us.
Swaps are a fraud.
Swaps are a Ponzi scheme.
Swaps now dominate the world financial economy.
The people lost, the republic lost.
prepare for the pain.
prepare for millions going homeless, and dying on the streets.
The Banksters have won.
http://voices.washingtonpost.com/ezra-klein/2010/04/what_would_fdr_do.html
But it's too late.
And the SEC fined them a couple of percent of their stolen Booty.
We needed FDR again, but this time the Bankers won.”