Thursday, 7 May 2009
Who's behind the Financial Meltdown?
The Subprime 25
These top 25 lenders were responsible for nearly $1 trillion of subprime loans, according to a Center for Public Integrity analysis of 7.2 million “high interest” loans made from 2005 through 2007. Together, the companies account for about 72 percent of high-priced loans reported to the government at the peak of the subprime market. Securities created from subprime loans have been blamed for the economic collapse from which the world’s economies have yet to recover ...
"Yes, the banksters have stuffed all the upside profits into off-shore tax-havens, and campaign funds for their political puppets, who're now passing all the downside losses back to the taxpayer in the biggest theft of public money for private gain in history.
And the media are selling the story as "too big to fail" and "saving the banking and financial sector". When really, its all about grabbing as much public money as you can and subjecting the population to debt peonage for a generation.
Looting the taxpayer for private gain at the same time as starving the economy of credit to push people out of jobs and out of their homes. Then you can slash public-spending and increase taxes at the same time as buying up deflating assets with public money for pennies on the dollar. Then the MSM can lecture us all again about the wonders of the "free-market" and "entraupeneurs" as the next generation of parasites flaunt their 'bonuses' and 'golden-handshakes/parachutes/pensions".
And to add further insult they even 'appoint' the unelected and odious dissembler, Peter Mandelson, to decide which businesses will be kept alive with public money and how many public-sector jobs to slash. Whilst at the same time casting themselves as 'saviours' of jobs having deregulated the banks so that they could loot everyone else and create a derivatives bubble-economy."
Gangsters, Bankers and Parasites -- New Labour -- New Plutocracy
Taking On the Banking Cabal