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Four Ticking Time Bombs That Will Soon Ignite a Revolution

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As Paul B. Farrell says in a recent column, it's too late to jail bankster CEOs;   only a revolution could accomplish that.

"Put Goldman Sachs CEO Lloyd Blankfein in jail for six months, and all this will stop," a former congressional aide tells Matt Taibbi in his latest Rolling Stone attack, "Why Isn't Wall Street in Jail?   Financial crooks brought down the world's economy -- but the feds are doing more to protect them than to prosecute them."

Taibbi's right in one respect:   everyone knows Wall Street's run by a bunch of dictators who are doing more damage to democracy and capitalism than North Africa's dictators.   But jail the CEOs of Goldman, Citi, B of A or Morgan Stanley?   It's too late for that.  

Only a revolution will stop Wall Street's self-destructive form of capitalism  

During the S&L crisis two decades ago America had a backbone, indicted 3,800 executives and bankers, and put a thousand of them behind bars.   But today's leaders don't have the backbone to do something like that.   Besides, jail time for them won't take away the darkness consuming Wall Street's soul.   In addition, most Americans today are still politically asleep, in denial about the moral crisis facing America.   Only a revolution will wake them up.

Jail time for banksters?   Journalists have been beating that dead horse for three years.   Yes, jailing a few CEOs made sense, in early 2009.   But our still-wet-behind-the-ears president missed that opportunity, and for safety's sake surrounded himself with Wall Street insiders, just as Bush did with Blankfein's predecessor and others like him.  

Taibbi got it right in one respect:   Washington's error was in protecting Wall Street's billion-dollar crooks when it should have been prosecuting them for their criminal role in getting us into the 2008 mess.   But today the political statute-of-limitations has run out.   The jail solution is wishful thinking, like praying to the tooth fairy for a miracle.   Now is the time for a revolution, beginning on Wall Street.  

Jail Wall Street?   Old news.   They got away with it.   Obama chickened out.   End of story.

"Jail Bank CEOs" makes a great sound bite in the cable pundits' echo chamber.   Of course you remember Taibbi's unforgettable indictment of Goldman Sachs:   the "world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."

But so what?   Just three years after Wall Street's crooks brought down the world's economy, Goldman's Blankfein and his Wall Street partners in crime are using their bailout money to pay record bonuses, laughing at us chumps as they do so.  

Since the 2008 meltdown, magazines and newspapers have analyzed the 2008 crash to death.   It really is old news -- history.   Journalists churned out book after book: "Greenspan's Bubbles," "House of Cards," "Trillion Dollar Meltdown," "13 Bankers," "Dumb Money," "Bailout Nation," "All the Devils Are Here," "The Big Short," "Too Big to Fail," "The Failure of Capitalism," "This Time is Different," "And Then the Roof Caved In," on and on, ad nauseum.   All talk, no action, and no effect.   And with every book, every editorial, every expose over the past three years, Wall Street banksters actually grew stronger, got richer, more arrogant, bolder on bonuses, impervious to attacks, even taunting us (like the dictators Mubarak, Ben Ali and Gadhafi), confident they could do no wrong, confident no one would rebel.   Jail for banksters?   Our moment to act is long past.   

Wall Street is the "Comeback Kid" story of the 21st century.   Three short years ago, Wall Street was virtually bankrupt, a ward of the state.   If only we could have jailed "just one" of them back then, when they were down for the count.   But instead we bailed them out!   Made them richer.   Gave them $14 trillion in the form of loans, credits, cash, and asset buyouts.   Essentially we gave them the keys to the Treasury.   So they didn't just recover, they're now "running the tables," to use a Las Vegas metaphor.   They own the place, as Senator Durbin said.   So let's admit the truth, let's understand the new reality:   Wall Street dictators have absolute power;   they rule Washington, America, and you and me.  

Yes America's bankrupt, and the rich don't care

Admit it, we lost the opportunity to save our democracy from them.   Jail a bank CEO and Wall Street will miraculously reform?   You must be joking.   Wall Street got away with the biggest (and apparently "legal") bank heist of all times.   And today the should-be/would-be inmates are running not just the prison but the country.  

Wall Street's corrupt banksters have lost their moral compass -- their insatiable greed has become a deadly virus destroying its host (nation) -- their campaign billions buy senate votes, stop regulators' actions, and manipulate presidential decisions.   Wall Street money controls voters, runs America, and both parties.   And yes, Wall Street is bankrupting the country at the same time.  

Wake up America, and listen to what these economists are saying:

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 
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Looks like America is already lawless.Stealing hom... by Debbie S on Friday, Mar 11, 2011 at 10:55:15 PM
Against the 4 things you name which would cause an... by liberalsrock on Saturday, Mar 12, 2011 at 10:17:23 AM
Actually no rebuttal at all. I'd like to make one.... by RunningBecky on Saturday, Mar 12, 2011 at 2:08:36 PM
Trade unions seem to have stopped playing Rip Van ... by Margaret Bassett on Saturday, Mar 12, 2011 at 10:57:22 AM
And this is why this government is building this t... by 911TRUTH on Saturday, Mar 12, 2011 at 11:21:19 AM
Social Security deficits are part of Wall Street's... by Paul Craig Roberts on Saturday, Mar 12, 2011 at 12:19:15 PM
It's called "Pay or Die." Health care gets ration... by Jill Herendeen on Saturday, Mar 12, 2011 at 12:38:26 PM
that is less vulnerable to the funding whimsy of C... by John Sanchez Jr. on Saturday, Mar 12, 2011 at 2:14:10 PM
Taxing labor increases the cost of labor and just ... by Jack Flanders on Sunday, Mar 13, 2011 at 8:11:15 AM
but a single payer medical system would be insuran... by John Sanchez Jr. on Sunday, Mar 13, 2011 at 8:56:47 AM
Increasing the taxes on labor would also very easy... by Jack Flanders on Sunday, Mar 13, 2011 at 10:54:34 AM
I'm simply drawing distinctions between the option... by John Sanchez Jr. on Sunday, Mar 13, 2011 at 11:46:18 AM
I agree that, even as a tax on labor, funding sing... by Jack Flanders on Sunday, Mar 13, 2011 at 12:38:50 PM
People are thinking that a single payer health car... by Doc McCoy on Saturday, Mar 12, 2011 at 11:03:33 PM
You still buy into that myth? The affluent west ha... by Vaikunthanath Kaviraj on Saturday, Mar 12, 2011 at 12:30:24 PM
Birth control can solve that, pro-creation causes ... by Debbie S on Saturday, Mar 12, 2011 at 1:26:27 PM
These crimes need to be prosecuted by an Internati... by Anton Grambihler on Saturday, Mar 12, 2011 at 1:01:01 PM
<<< Social Security deficits are part of ... by Richard Clark on Saturday, Mar 12, 2011 at 1:48:57 PM
Cattle have ruined the range.Aristocracies of weal... by martin weiss on Saturday, Mar 12, 2011 at 1:51:10 PM
Excuse me, Mr. Clark, but since when does Social S... by Joyce Ellenson on Saturday, Mar 12, 2011 at 2:13:57 PM
Come on, admit it gang: don't you miss Duhbya just... by Richard Clark on Saturday, Mar 12, 2011 at 2:38:17 PM
I'm not familiar with Paul B. Farrell, but anyone ... by Joyce Ellenson on Saturday, Mar 12, 2011 at 3:28:21 PM
Joyce you say, "I'm not familiar with Paul B. Farr... by Alan MacDonald on Sunday, Mar 13, 2011 at 12:46:15 PM
This is the beginning of global revolution against... by Alan MacDonald on Saturday, Mar 12, 2011 at 3:13:38 PM
Yes, the working-class people of the US, despite t... by Alan MacDonald on Saturday, Mar 12, 2011 at 3:16:36 PM
Because this stupid corrupt global Empire has trie... by Alan MacDonald on Saturday, Mar 12, 2011 at 3:19:42 PM
How can the soiciopathic and vainglorious egomania... by Alan MacDonald on Saturday, Mar 12, 2011 at 3:21:39 PM
Oh the fires I see boiling over in the minds of Ma... by Michael Dewey on Saturday, Mar 12, 2011 at 4:45:30 PM
I'm not sure how one can call the pop. problem a h... by JimZ on Saturday, Mar 12, 2011 at 4:08:15 PM
is pure fantasy, and has been debunked so often as... by JimZ on Saturday, Mar 12, 2011 at 4:15:00 PM
From http://www.ncpa.org:The estimated present val... by Richard Clark on Saturday, Mar 12, 2011 at 4:38:15 PM
Thank you for finally exposing yourself as the fre... by Joyce Ellenson on Saturday, Mar 12, 2011 at 4:50:58 PM
I've looked at times like these, with and eye on w... by Michael Dewey on Saturday, Mar 12, 2011 at 4:16:42 PM
your quote: "even taunting us (like the dictators ... by Dan Suilem on Saturday, Mar 12, 2011 at 4:32:31 PM
Dan, Obama is the reverse Manchurian candidate. H... by Alan MacDonald on Sunday, Mar 13, 2011 at 10:37:42 AM
Yes, a revolt in the US has become a small priorit... by Dan Suilem on Sunday, Mar 13, 2011 at 2:28:16 PM
would it be necessary, or would one want to, to se... by JimZ on Saturday, Mar 12, 2011 at 5:18:09 PM
Thanks, Jim. Yes, he gave himself away when he qu... by Joyce Ellenson on Saturday, Mar 12, 2011 at 5:31:44 PM
. . that web site, http://www.ncpa.org/. And no,... by Richard Clark on Saturday, Mar 12, 2011 at 8:06:59 PM
It is obvious, even to the casual observer, that t... by Donald on Saturday, Mar 12, 2011 at 6:04:37 PM
Richard, you are right. Revolutionary talk is lost... by Jay Farrington on Saturday, Mar 12, 2011 at 7:21:14 PM
Jay, you and many on this forum, are seeming to co... by Alan MacDonald on Sunday, Mar 13, 2011 at 11:00:41 AM
the nation debt is a threat to national security, ... by bogi666 on Saturday, Mar 12, 2011 at 7:31:06 PM
Revolutions are fraught with lies and deception an... by philputman on Saturday, Mar 12, 2011 at 7:53:46 PM
I've never even owned a gun and don't plan on gett... by Richard Clark on Saturday, Mar 12, 2011 at 8:25:17 PM
Y'LL call this communit capitalism? Get out of he... by John Smith on Saturday, Mar 12, 2011 at 8:35:49 PM
Mr. Clark and Mr. Roberts are two brave patriots w... by ronheri on Sunday, Mar 13, 2011 at 12:39:07 AM
though I would hesitate to solely blame politician... by Doc McCoy on Sunday, Mar 13, 2011 at 4:03:25 AM
Who is looting from the American people? Workers a... by Debbie S on Sunday, Mar 13, 2011 at 2:57:17 PM
Looting has been brought up to change the subject ... by Debbie S on Monday, Mar 14, 2011 at 3:21:05 PM
Great graphical representation of class warfare in... by Richard Clark on Monday, Mar 14, 2011 at 1:54:12 PM
Law professor Richard L. Kaplan contends the notio... by Richard Clark on Monday, Mar 14, 2011 at 2:19:43 PM