Friday, August 12, 2011

Ritholtz nails it - Bailout 2.0

These are your tax dollars, the interest paid to you, your parents, and your grandparents on their savings, and your purchasing power being sacrificed to bail out the banksters and real estate speculators - 3 1/2 YEARS AFTER BEAR STEARNS WENT UNDER!  What did you do to protest this?

http://finance.yahoo.com/blogs/daily-ticker/robin-hood-reverse-bank-bailout-bonanza-heats-again-134220127.html

In England, one guy gets killed by the police and every major city in the country sees riots.  Here, we all get robbed by the plutocracy (forget the number of people killed by police each year, the number of no-knock warrants served, the number of houses improperly foreclosed, etc.), and we go shopping over the weekend before going back to our debt-slave jobs.  The old quote "in Europe, the governments are afraid of the people, and in the USA, the people are afraid of the government" still holds water.

It's time to re-read the 2005 Citigroup analysis that their lawyers had pulled immediately after public release:

http://blogs.wsj.com/wealth/2007/01/08/plutonomics/

more here:

http://rwer.wordpress.com/2010/11/11/citigroup-attempts-to-disappear-its-plutonomy-report-2/

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