What the bankers are doing to Detroit is criminal

Published on The Confluence, by riverdaughter, August 16, 2013.

Go read No Banker Left Behind at the NYTimes. Let us recap, shall we?

The bankers, who had all of their bonuses protected and bailed out with our federal tax dollars when they blew up the world because people like Larry Summers argued that it was unfair to violate their compensation contracts, are bearing down on Detroit to pay outrageous sums of money on ill-advised derivatives transactions that will result in innocent Detroit municipal employees forfeiting up to 90% of their pensions.   Continuer la lecture de « What the bankers are doing to Detroit is criminal »

Noam Chomsky

Not Too Big to Jail

Why Eliot Spitzer Is Wall Street’s Worst Nightmare – Published on Dissident Voice, by Ellen Hodgson Brown, August 19, 2013.

Before Eliot Spitzer’s infamous resignation as governor of New York in March 2008, he was one of our fiercest champions against Wall Street corruption, in a state that had some of the toughest legislation for controlling the banks. It may not be a coincidence that the revelation of his indiscretions with a high-priced call girl came less than a month after he published a bold editorial in the Washington Post titled “Predatory Lenders’ Partner in Crime: How the Bush Administration Stopped the States from Stepping in to Help Consumers.”   Continuer la lecture de « Not Too Big to Jail »