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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe Vampire Squid Strikes Again: The Mega Banks' Most Devious Scam Yet -By Matt Taibbi
"The wholesale merger of high finance with heavy industry."SOUNDS LIKE FASCISM TO ME
The Vampire Squid Strikes Again: The Mega Banks' Most Devious Scam Yet
Banks are no longer just financing heavy industry. They are actually buying it up and inventing bigger, bolder and scarier scams than ever
By Matt Taibbi
February 12, 2014 11:00 AM ET
But the crazy thing is, nobody at the time quite knew it. Most observers on the Hill thought the Financial Services Modernization Act of 1999 also known as the Gramm-Leach-Bliley Act was just the latest and boldest in a long line of deregulatory handouts to Wall Street that had begun in the Reagan years.
..............
In this Brave New World, nobody knows. Moreover, whatever we've done, it's too late to have a referendum on it. Garrett Wotkyns, an Arizona-based class-action attorney who has spent more than a year investigating the banks' involvement in the metals markets and is suing Goldman and others over the aluminum case on behalf of two major manufacturers, puts it this way: "It's like that line in The Dark Knight Rises," he says. "'The storm isn't coming. The storm is already here.'"
Read more: http://www.rollingstone.com/politics/news/the-vampire-squid-strikes-again-the-mega-banks-most-devious-scam-yet-20140212
Laelth
(32,017 posts)-Laelth
dhill926
(16,343 posts)scary .
sabrina 1
(62,325 posts)scams? Are are they all just decorations to make it look like a democracy where criminals ARE held accountable, not those who report the crimes?
If it wasn't for reporters like Matt Taibbi among others, we would know nothing about these scams. Knowing about them doesn't much good though if we have no rule of law operating at the top 1% level of society.
dixiegrrrrl
(60,010 posts)Bail for the rich, jail for the poor, has been a constant, overall, for eons.
Last 20 years or so, even more egregious.
Egalitarian Thug
(12,448 posts)sabrina 1
(62,325 posts)I am encouraged by some of the reaction to all of this though, eg, Global effort to end massive Global spying, eg, to get International laws passed now that the abuse worldwide has been exposed.
But so long as there are apologists it will be hard to change things.
Rex
(65,616 posts)People can ignore what I say all they want to, the proof is right there for all to see. Our government has been compromised by Wall Street and we will all pay for it, much more so than we are now.
magical thyme
(14,881 posts)blkmusclmachine
(16,149 posts)+1,000
Enthusiast
(50,983 posts)This is destroying the nation.
JohnyCanuck
(9,922 posts)woo me with science
(32,139 posts)riderinthestorm
(23,272 posts)Horrified K&R
Guy Whitey Corngood
(26,501 posts)serious. They might even have a kid or something. It's fascinating earth shattering shit.
adirondacker
(2,921 posts)L0oniX
(31,493 posts)Guy Whitey Corngood
(26,501 posts)hooked.
L0oniX
(31,493 posts)Guy Whitey Corngood
(26,501 posts)orphans in the crotch before making any rash decisions.
L0oniX
(31,493 posts)I would hope we would bring this country to a screeching halt if they did!
lindysalsagal
(20,692 posts)As a species, we're doomed. We're a higher order of hienas.
ProSense
(116,464 posts)"Call it the loophole that destroyed the world. "
http://www.democraticunderground.com/10024498922