Who's behind the Financial Meltdown?

The Subprime 25

These top 25 lenders were responsible for nearly $1 trillion of subprime loans, according to a Center for Public Integrity analysis of 7.2 million “high interest” loans made from 2005 through 2007. Together, the companies account for about 72 percent of high-priced loans reported to the government at the peak of the subprime market. Securities created from subprime loans have been blamed for the economic collapse from which the world’s economies have yet to recover ...

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"Yes, the banksters have stuffed all the upside profits into off-shore tax-havens, and campaign funds for their political puppets, who're now passing all the downside losses back to the taxpayer in the biggest theft of public money for private gain in history.

And the media are selling the story as "too big to fail" and "saving the banking and financial sector". When really, its all about grabbing as much public money as you can and subjecting the population to debt peonage for a generation.

Looting the taxpayer for private gain at the same time as starving the economy of credit to push people out of jobs and out of their homes. Then you can slash public-spending and increase taxes at the same time as buying up deflating assets with public money for pennies on the dollar. Then the MSM can lecture us all again about the wonders of the "free-market" and "entraupeneurs" as the next generation of parasites flaunt their 'bonuses' and 'golden-handshakes/parachutes/pensions".

And to add further insult they even 'appoint' the unelected and odious dissembler, Peter Mandelson, to decide which businesses will be kept alive with public money and how many public-sector jobs to slash. Whilst at the same time casting themselves as 'saviours' of jobs having deregulated the banks so that they could loot everyone else and create a derivatives bubble-economy."

Gangsters, Bankers and Parasites -- New Labour -- New Plutocracy

Taking On the Banking Cabal

The Financial Barbarians at the Gate
With financial economist and historian, Dr. Michael Hudson

Europe; worsening financial situation and indebtedness; the history of banking and the criminalization of the banking system; tax policy; real estate asset inflation; US imperialism via the monetary system; neoliberal/neofeudal economics; classical political economy; finance capital breaking away from industrial capital; the financial crisis leading to a political crisis; similarities with the Roman Republic; what measures labor should take.

Guns and Butter - April 15, 2009 at 1:00pm

Click to listen (or download)

Crisis Plunges US Middle Class into Poverty

The financial crisis in the US has triggered a social crisis of historic dimensions. Soup kitchens are suddenly in great demand and tent cities are popping up in the shadow of glistening office towers. Even drug dealers are feeling the pinch.

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Brzezinski on Class Warfare and Destruction of the New World Order

Interview with Zbigniew Brzezinski in which he targets the super-rich who cashed in from the financial meltdown suggesting they give some money back into a national solidarity fund. Interesting to hear the architect of the New World Order expressing fear about the prospect of class warfare and riots ...

Resist or Become Serfs

The bullet to our head, inevitable if we do not radically alter course, will be sudden. We have been borrowing at the rate of more than $2 billion a day over the last 10 years, and at some point it has to stop. The moment China, the oil-rich states and other international investors stop buying treasury bonds the dollar will become junk. Inflation will rocket upward. We will become Weimar Germany. A furious and sustained backlash by a betrayed and angry populace, one unprepared intellectually and psychologically for collapse, will sweep aside the Democrats and most of the Republicans. A cabal of proto-fascist misfits, from Christian demagogues to simpletons like Sarah Palin to loudmouth talk show hosts, who we naively dismiss as buffoons, will find a following with promises of revenge and moral renewal. The elites, the ones with their Harvard Business School degrees and expensive vocabularies, will retreat into their sheltered enclaves of privilege and comfort. We will be left bereft and abandoned outside the gates.

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The End of 'Free-market' Capitalism?

Where is American Capitalism Headed?

Amid the chaos and chatter about this week's financial bailout, one clear theme emerged in some quarters: The era of 'free-market' capitalism is over. But is it, really?

The present trend to nationalize bad debts is being described as 'Socialism for the Rich and the Devil-take-the-Hindmost Capitalism for the Poor'. While the rich will try to maintain their privileges how long will the rest of us put up with such a gross injustice?

People are angry. What next?



American News Project