"The end of democracy..... will occur when government falls into the hands of lending institutions and moneyed incorporations." Thomas Jefferson. President Thomas Jefferson's quote had truth in it during the early days of America and holds truth in it in today's America.
Bankrolling Iraq and Afghanistan Wars during the Bush Administration strained the U.S. economy, which is common knowledge, but the economic landscape would be placed in an unforeseeable future at the onset of the Great Recession of 2007.
"The American economy is the envy of the world, we should keep it that way." Bush said. "The fundamentals of our economy are stong." President George W. Bush stated August 10, 2007. This was an act of confidence or a convenient lie to cover up the steep deterioration of major banks' balance sheets from the bursting housing bubble.
Because many large financial institutions were heavily invested in mortgages, the bubble bursting in late 2006 would have a significant effect on the housing crisis on the U.S. and world economy.
The credit industry crunch was in full effect by mid 2008. The bottomless pit of prosperity had dried up due to taking out second and third mortgages, refinancings, house flipping, bundling of mortgages as investment tools of paper valued properties and not actual or real property values.
By September 2008, Lehman Brothers and Bear Stearns of Wall Street had collapsed. October 3, 2008, President Bush approved and signed into law, TARP, Troubled Assets Relief Program. The Dow Jones Average dropped to 6,547.05 on March 9, 2009.
The American taxpayers would bail out the financial institutions who erroneously gambled their integrity for profits. But, through the use of pensions, 401k, taxes, home and property equities, many U.S. banks and financial institutions would later bounce back stronger than before the crisis occurred.
By September 2011, Wall Street and big money corporations were looked upon as an "evil empire." Due to $185 billion bailout to companies such as AIG who would turn around and spend $165 million bonuses on executives, didn't go over well with many Americans.
Occupy Wall Street organized protest nationwide and globally, bringing attention to the nation's 1% and 99% income disparity. Exposing that capitalism functions best through investors and low to minimum wage workers, placed a question on equality and democracy.
Democracy, though a treasured idealism, maybe the least of American citizens horrors as rights continue to diminish. Patriot Act of 2001, Citizens United 2010, Voting Rights Act 2013 are only a few of the nullification of citizens rights, while corporations become emboldened.
The Dow Jones Average hits closing milestone of 16,715.44 on May 13, 2014. Big money corporations are experiencing near euphoria while the average American and middle class have become more creative in economic survival.
Corporate government of America has been initiated with the allowance of unlimited money contributions in politics and policy making. The allegiance to profit is the end game for corporate America, not democracy, GOP, Democrat, Independent, foreign investors, American citizens' rights, none of that is of concern, only profit.
True allegiance is in a 'united' United States of America, that should be the concern of this nation's leaders, yet greed, ego, ideologies, and stupidity carry weight to divide America. So we yield power to the lending institutions and incorporated money as Jefferson quoted, and in doing so, end democracy and the American Dream. A dream that had been so elusive to many Americans; black, Native Americans, Latinos, Asians and some whites, may now become a memory for nearly all Americans.