Stressed: What Are They Trying To Tell Us?
By Danny Schechter
New York, New York: Ok, I have to admit it, I feel as my faith in economic justice is being tested with these stress tests. Truth is, I am becoming more stressed than ever.
The reason: despite all the "regulations" in the Dodd Frank Financial "reform" and the Volcker Rule and The Fed's "oversight:' the banks seems to have free reign to do what they will despite the financial crisis, and the pathetic "recovery."
There have been fines and settlements but nothing is settled. None of them have or will go to jail.
Economic conditions continue to stress out millions even as the Fed announces "stress tests" that appear on the surface to be a way of insuring that big banks won't need more bailouts.
to say, it's more of the charade. Partially that's because the banks dominate
the Federal Reserve, a private, not public, institution.
partially, because when it comes to economic crises, the stories are buried in
the business pages and rarely surface as topics of concern on popular talk
shows and media that most folks watch.
Even the financial channels like CNBC prefer superficial soundbite chatter to in-depth-interviews according to "Money Honey," Maria Bartiromo who publicly criticized her old network when she took a better deal at Fox.