January 4, 2010
As Economy Declines, Time To Rein In The Banksters
By Danny Schechter
OLD PROBLEMS REMAIN IN NEW YEAR: NO, VIRGINIA, THE ECONOMY IS NOT GETTING BETTER AS BANKS STILL RULE
Financial Reforms Are Being Watered Down As Bailouts Are Up
By Danny Schechter, author The Crime of Our Time
Writes Nobel Laureate Joe Stiglitz:
..."I dramatically underestimated the willingness and ability of "the criminal class" (that would be those in DC and on Wall Street) to lie, cheat, steal, paper over insolvency and get away with it - at least for a while.
Will this ultimately lead to an actual recovery? No. It mathematically can't. A short-term bounce in various metrics, yes, just like an insolvent person can spend on his credit cards until they get cut off and look like they're improving."
Joe Stiglitz is exactly right about that. Barack Obama didn't choose Joe to help because the Wall Streeters paid for Obama's political campaign. They named their own Treasury Secretary.