HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » STOCK MARKET WATCH -- Wed... » Reply #9

Response to Tansy_Gold (Original post)

Tue Oct 30, 2012, 08:42 PM

9. How Wall Street Won the Election Long Before the First Vote Was Cast By Nomi Prins

 

THEY BOUGHT IT, OF COURSE!

http://truth-out.org/news/item/12358-how-wall-street-won-the-election-long-before-the-first-vote-was-cast

Before the campaign contributors lavished billions of dollars on their favorite candidate; and long after they toast their winner or drink to forget their loser, Wall Street was already primed to continue its reign over the economy. For, after three debates (well, four), when it comes to banking, finance, and the ongoing subsidization of Wall Street, both presidential candidates and their parties’ attitudes toward the banking sector is similar – i.e. it must be preserved – as is – at all costs, rhetoric to the contrary, aside.

Obama hasn’t brought ‘sweeping reform’ upon the Establishment Banks, nor does Romney need to exude deregulatory babble, because nothing structurally substantive has been done to harness the biggest banks of the financial sector, enabled, as they are, by entities from the SEC to the Fed to the Treasury Department to the White House.

In addition, though much is made of each candidates' tax plans, and the related math that doesn’t add up (for both presidential candidates), the bottom line is, Obama hasn’t explained exactly WHY there’s $5 trillion more in debt during his presidency, nor has Romney explained HOW to get a $5 trillion savings.

For the record, both missed, or don’t get, that nearly 32% of that Treasury debt is reserved (in excess) at the Fed, floating the banking system that supposedly doesn’t need help. The ‘worst economic period since the Great Depression’ barely produced a short-fall of an approximate average of $200 billion in personal and corporate tax revenues per year, according to federal data.)

...We have no leader that will take on Jamie Dimon, Chairman of the country’s largest bank, JPM Chase, who can devote 15% of the capital of JPM Chase, which remains backstopped by customer deposit insurance, to bet on the direction of potential corporate defaults, and slide by two Congressional investigations like walks in the park....

NOMI NAMES NAMES, PRINTS NUMBERS AND KICKS BUTT

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 32 replies Author Time Post
Tansy_Gold Oct 2012 OP
Demeter Oct 2012 #1
Fuddnik Oct 2012 #15
Demeter Oct 2012 #17
Demeter Oct 2012 #2
Demeter Oct 2012 #3
Demeter Oct 2012 #4
Demeter Oct 2012 #5
Demeter Oct 2012 #13
Warpy Oct 2012 #14
AnneD Oct 2012 #16
Demeter Oct 2012 #6
Demeter Oct 2012 #7
Demeter Oct 2012 #8
Demeter Oct 2012 #10
LineReply How Wall Street Won the Election Long Before the First Vote Was Cast By Nomi Prins
Demeter Oct 2012 #9
Demeter Oct 2012 #11
Demeter Oct 2012 #12
Demeter Oct 2012 #18
Demeter Oct 2012 #19
Demeter Oct 2012 #20
xchrom Oct 2012 #21
xchrom Oct 2012 #22
xchrom Oct 2012 #23
xchrom Oct 2012 #24
Demeter Oct 2012 #28
xchrom Oct 2012 #25
xchrom Oct 2012 #26
xchrom Oct 2012 #27
Demeter Oct 2012 #29
xchrom Oct 2012 #30
bread_and_roses Oct 2012 #31
Demeter Oct 2012 #32
Please login to view edit histories.