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Monumental insider bank robberies and the ongoing decimation of America's great middle class

By   Follow Me on Twitter     Message Richard Clark       (Page 1 of 5 pages)     Permalink

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This is a synopsis of an article that recently appeared at the Daily Kos.

 

In their December 30th issue, the mainstream German magazine Der Spiegel says banksters committed nothing short of a monumental insider bank robbery, which is responsible for America's growing numbers of poor and hungry.   The magazine's vast number of readers throughout the European Union agree.

 

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Der Spiegel's article also tells us that Americans seem to have a very short memory.   Barely two years after the market crashed, Wall Street is in the process of creating a second crash by speculating just as recklessly as before.   The article suggests this is probably happening because there were no criminal prosecutions the first time around.  

 

In response to which we must wonder:   How many more times are we going to have to bail out Wall Street?   How much longer do the bread lines have to get, how many more millions have to lose their homes?   Isn't 59 million Americans without medical insurance enough, or must there be more?   The new Republican majority in the House of Representatives seems to think we must continue adding to that number (so as to increase, ever more, the lavish campaign funding Republicans receive from their insurance-industry and finance-industry benefactors and owners).  

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Just how much punishment and suffering will Americans endure before they summon the courage to demand a Main-Street, European-style social safety net?   Opinion polls show that a large majority of Americans want such a safety net;   so why don't they demand it from their political representatives?

 

Perhaps it has something to do with America's plutocrat-owned media.   So let's hop the Atlantic and take a look at Der Spiegel's series of articles on the American empire in decline, the last installment of which appeared December 30th, 2010.   Unlike anything you will read in America's plutocrat-owned media, the chorus from the European mainstream press, which Der Spiegel represents, comes close to calling for the criminal prosecution of the Wall Street banksters.  

 

A quote from the article:

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"Pam Brown used to work as an executive secretary on Wall Street with an annual salary of $80,000.   Then the financial crisis robbed her of her job.   Since the beginning of 2009 she has been unemployed.   She fell through the US social safety net which is full of holes -- through it right to the very edge of poverty itself, and only through luck was she able to avoid homelessness.

 

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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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