Thursday, March 26, 2009

Corporatocracy Part III

If you want to understand one the critical events that put our country at the mercy of financial institutions then please read this.

Courtesy of the Video Cafe and Democracy Now.

Listen and tell me what you think my friends and critics.



Anonymous said...

Okay Richard I listened to this and followed along on the site. This brings up a burning question in my pea brain. If the banks are making all this money...why are we having to bail them out and in the same token, isn't our society based on Free Enterprise? I don't like the government getting their paws into business and regulating them. I've always believed in survival of the fittest...but maybe I should change that line of thinking now for the mess that the economy is in.

Richard said...

It's all about the Usury.

As to your question: the banks weren't happy with just charging outrageous interest. They piled on by leveraging the risk 100 times or more in derivatives and credit default swaps. Doomed from the outset and they didn't even care.

Because they all got rich and walked away. What's wrong with that pictur?.

Anonymous said...

Shitty Bank executives is what is wrong