“It was all a lie – one of the biggest and most elaborate falsehoods ever sold to the American people. We were told that the taxpayer was stepping in – only temporarily, mind you – to prop up the economy and save the world from financial catastrophe. What we actually ended up doing was the exact opposite: committing American taxpayers to permanent, blind support of an ungovernable, unregulatable, hyperconcentrated new financial system that exacerbates the greed and inequality that caused the crash, and forces Wall Street banks like Goldman Sachs and Citigroup to increase risk rather than reduce it.”
http://www.rollingstone.com/politics/news/secret-and-lies-of-the-bailout-20130104?print=true
Related posts:
Bill Bonner: The Fed’s Childishly Naïve Theory of Credit
A Real and Lasting Peace
Bitcoin developer: Are bitcoin thieves revealing NSA back doors?
Two Chess Moves Away from Capital Controls
Stop-and-Frisk: How Government Creates Problems, Then Makes Them Worse
Privacy in the Face of NSA Abuse
Trump hasn’t drained the swamp – he’s put the military in charge of it
Breaking the last taboo - Gaza and the threat of world war
“Cruel and Unusual” Is the Only Way to Describe It
National-Security State Toadies Are Guilty Of Hypocrisy On Snowden
Dear New Yorkers: Here's Why Your Rent Is So Ridiculously High
What Happens When Share Buybacks Dry Up?
Bill Bonner: Too Much Of A Good Thing
Iraq +15: Accumulated Evil of the Whole
Are You Already in Jail?