Oh, that explains it!
Shamus Cooke writes on Global Research: “History will likely show that these bailouts involved the largest transfer of wealth ever - from the working class to that small group of billionaires who own the corporations. This fact is recognized by most people now and is such common knowledge that even the mainstream media feels comfortable discussing it . . . matter-of-factly.
These corporations have also exerted tremendous influence in other realms of politics, working towards destroying Obama's campaign promises of health care, job creation, civil liberties, the Employee Free Choice Act, peace, etc.
In each case, the promised reform was gutted of its essence, and "compromise" versions of the bills are now being discussed: instead of universal health care, we will likely be universally mandated to purchase health insurance; instead of "job creation" we are told that the stimulus has "saved jobs" (contrary to the evidence); while troops are "drawing down" from Iraq, the war in Afghanistan/Pakistan is being escalated; instead of allowing workers to organize unions easier, a compromise version --“ Employee Free Choice Act, minus card check - seems more politically "pragmatic," etc.”
At the heart of the crisis is the plight of homeowners who we know were defrauded in large numbers, victims like the Madoff investors Yet the former are getting reimbursed to some degree, the latter are not. Bills to help them have been killed with Matt Renner on TruthOut reporting:
“A new analysis from a government watchdog group shows senators who killed off a consumer-friendly change in law aimed at addressing the foreclosure crisis received more money in campaign contributions from the industries their vote aided. Senators who voted against the consumer-friendly amendment received $3.98 million from the financial industry during the 2008 election cycle, while proponents of the bill received $2.65 million."
Could this be more corruption? Of course, but they call it politics as usual. And, that’s not the worst of it, is that foreclosures are still rising and now affecting non-subprime lenders with little relief in sight.
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