The legacy of the Obama administration? Hope is dead.
The legacy of the Obama administration? Hope is dead.: Nearly 70% of Americans believe that hard work will not allow them to succeed. 80% believe the this generation will have to work harder than the last to excel. 78% believe that their children have …
“So I think we are in great danger of banks not just being too big to fail, but their leaders being…”
“So I think we are in great danger of banks not just being too big to fail, but their leaders being too big to fail, as they take the tremendous subsidies they’ve received over the last few years. We’re in a much more precarious position.”
jilli1205: Bill Black concurs, stating, “Our system is…
Bill Black concurs, stating, “Our system is completely rotten. All of the largest banks are involved—eagerly engaged in this fraud for years, covering it up.” The system needs a complete overhaul. In the meantime, if the FDIC can bring a civil action for breach of contract and fraud, so can state and local governments, universities, and pension funds. The possibilities this opens up for California (where I’m currently running for State Treasurer) are huge. Fraud is grounds for rescission (terminating the contract) without paying penalties, potentially saving taxpayers enormous sums in fees for swap deals that are crippling cities, universities and other public entities across the state. Fraud is also grounds for punitive damages, something an outraged jury might be inclined to impose. (via The Global Banking Game is Rigged and the FDIC is Suing | NationofChange)
Vox poses the question: does the Paul Ryan budget show us that capitalism is fundamentally incompatible with democracy?
Vox poses the question: does the Paul Ryan budget show us that capitalism is fundamentally incompatible with democracy?:
The Doom Loop of Oligarchy: Wealth becomes political power. Political power becomes more wealth. We see it happening right now.