Ring of Fire: Is Austerity Bringing A New Meltdown?
We’ve spent a lot of time talking about the crimes of the big banks, and there’s a good reason for that – almost every American will be at the mercy of a bank for some point in their lives, whether it is trusting them to hold your checking account, or seeking a loan for a house or car – the banking industry is heavily involved with our day to day lives. The question is, what do we know about the banks, and what are they doing with our money?
Ring of Fire's Farron Cousins answers that question with attorney Michael Burg.
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And, "New Meltdown"?
There are still people divesting themselves of their 401Ks with a tax penalty and frozen in their homes they can't sell, millions of home loans underwater, to be joined by more when interest rates rise, 10 million people newly in poverty since 2008 and another 30 million moved to near poverty, joining them in that time period.
Oh, they meant everyone else's recovery? Those whose home values are being propped up, millionaires getting phatter, loans made to Mi$$ RobMe's Staples and other investment groups to keep them alive at the expense of smaller businesses. They are doing fine...on the backs of the rest of our neighbors.
One can view it as they wish, pretend elections are about selling your platform, but unless you care about what the people think it's nothing but selling bad used cars.
