Sunday, July 15, 2012

The Bankers Rob the Banks Again- you and I will be forced to pay

 In 2008- 2009 we suffered the looting of the U.S. economy by major banks and finance capital.  The  looting produced our current economic crisis, crashed the world economy, and caused the massive cutbacks we presently suffer in schools, in public pensions, in employment of police, fire, the bankrupting of cities and the cuts to health care and the social safety net.
Now- we learn- it has all happened again.  It is called the Libor scandal and it is just breaking in London.  Barkley’s Bank has admitted a form of fraud of fixing the Libor rate which will also involve major U.S. banks including Citi Group, J.P. Morgan and others.  These banks have bought the U.S. Congress to prevent effective regulation of their practices.
See Sheila Bair ( a Republican) on Bill Moyers and Company.  Here.

Also see William K. Black.  Here
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