We hold these Truths to be self-evident...
Elizabeth Warren is a Harvard law professor specializing in contract, bankruptcy, and commercial law. She is also chair of the Congressional oversight committee for the so-called "bailout." In the following 6-minute interview, Warren sharply criticizes the political “leadership” of both parties for allowing the big banks to gamble and profit, then be bailed-out when their gambling crashes. She states that the banks were given our money while we were left on our own. She sites the most recent economic data of unemployment officially reported at over 10%, with the more realistic closer to twice that amount (and here).
As an economics teacher, I respectfully inform you that this is not capitalism. We have another name for corporate and political partnership for mutual benefit at public taxpayer expense: fascism. While I'm being academically accurate with the label of fascism (look it up), if that's too harsh for you, a great sound-byte repeated in the interview for this system is “privatized gains and socialized losses.”
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Comments
Great report, Carl. Thanks!
We'll never get anywhere when you kool-aid pushing talking heads like this. Elizabeth Warren is right in respects, but she was there serving up the kool-aid too. And how can that on guy say with a straight face that the FED saved the system? Are you kidding me!!? The FED IS THE SYSTEM AND THE PROBLEM, not the solution. It must go. And did the other old guy say the stimulus wasn't big enough? really? Its very disheartening. Thanks for the post Carl.. excellent as usual. Keep up the great work.
Peace
dtg
dtg: You're punching through the propaganda. This is what a critical mass of Americans MUST do or we'll continue to be the propagandists' debt slaves.
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