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Slate: How The Fed’s Generosity Made $13 Billion For America’s Biggest Banks…

28 Nov

If you’re wondering what the Occupy movement is about, this article from Slate gives you some indirect background.

As Mark Evanier puts it: “Basically, the Fed did everything in its power to help big banks get bigger and to not suffer when they took risks that didn’t pay off. Wish someone would do that for me.”

But no one will. The government will let the bank foreclose on your home because you shouldn’t have been stupid enough to take a crap loan. The government won’t even extend your unemployment benefits.

It’s unfortunate that the public does not fully grasp that not only are corporations “people” in the government’s eyes, they’re riding in the front of the bus.

 
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Posted by on November 28, 2011 in Capitalism

 

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