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Friday, Jun. 04, 2010 at 2:04 AM
Twenty months after the financial meltdown of 2008, the US congress is moving ahead with its financial system reform.
VIDEO: BANKS STILL THE POWERHOUSE IN D.C.
Bank lobbyists outnumber reform lobbyists 11 to 1 on derivatives legislation alone.
While many details are still to be ironed out around derivatives and consumer protection, it is clear that the legislation will not break up the massive banks that are blamed for the crisis. Until the banks influence on Capital Hill is broken up or countered, there is no way to guarantee an end to bailouts.
David Arkush, Public Citizen on www.therealnews.com
VIDEO: THE GODS OF MONEY PT2
William Engdahl: US fights to maintain dollar hegemony at expense of economy
When did the gods of money ever care about their indigenous people? This is a dysfunctional pathological system. “We’re simply doing God’s work,” said Goldman Sach’s Lloyd Blankfein. “After us the flood” is not a viable system in the long run.
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