Friday, March 18, 2011
And in all the footage of people being saved, I haven't seen one mega-bank rescue anyone. I saw help from a lot of volunteers, firemen, rescue workers, doctors, nurses, etc. But not one bank. And that was true during snowstorms in North Dakota, the floods in New Orleans, and the earthquake in Haiti. Oddly, though the banks are sucking up enormous amounts of our budgetary resources, they don't own rescue helicopters, they don't track earthquakes, they don't study tsunamis, and they don't deal with radiation poisoning.
According to Simon Johnson, roughly 40% of the increase in privately held government debt over the past few years is due to the financial crisis caused by these mega-banks. Yet, the Federal budget debate is centered on slashing spending on things that we actually need, things that, when a crisis happens, saves our lives.'
Posted by DotConnector at 08:45