It doesn't matter that millions of Americans were thrown out of work. It doesn't matter that by creating and selling all of those bullshit "liar loan" mortgages, the banks set up the housing bubble. Congress doesn't give a frak about that, because all of those shenanigans hurt the middle class and the poor. The rich didn't make out so badly, the bankers rode it out, thanks to over a trillion in Federal aid, and it is the rich and the bankers who give the huge
By "Congress", I am blaming both Democrats and Republicans for doing nothing to correct the conditions that lead to the Bush-Gramm-Greenspan Recession.
And friendship also plays a role, as anyone who expects Ben Bernanke or Tim Geithner to crack down on their friends on Wall Street is smoking crack.
In 1933, the laws to regulate the banks and prevent another banking crash took just months to pass. They worked, even if the bankers hated them. Phil Gramm, the senator from UBS Bank, got the law changed in 1999 and it took only nine years for the banks to collapse the economy.
It will take even less time for another collapse, because now those fuckers all know that if they break the economy again, the Treasury Department will show up with a few trillion dollars to bail them out.
One would think that Congress might actually give a shit about what happened and work to fix the problem. But sadly, no.
Money talks.
Money talks, alright, but it speaks a language only the greedy can understand.
ReplyDeleteI haven't posted a whole lot this past week because I keep saying to myself, "what's the point?" It's clear that the U.S. political system has become completely dysfunctional and incapable of serving anybody other than the wealthy oligarchs who pay its members bribes (oops, "campaign contributions") to serve their needs. It's clear that the whole edifice is set up to drive us to the Mexico North scenario, of hoards of desperate starving peasants willing to work for peanuts for a handful of filthy rich oligarchs who control the economy and the nation. And, sadly, it has become clear that the majority of Americans are too stupid, too bought, or too apathetic to do anything about that until we have utter national disaster that makes the Great Depression look more like the Sorta Bad Economic Downturn. So why bother?
ReplyDelete- Badtux the Depressed Penguin