Forum Post: Federal Reserve and Banks should give their profits back to the people
Posted 12 years ago on Oct. 9, 2011, 5:26 p.m. EST by FedWallFedWell
(59)
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The Federal Reserve (bankers) lowered rates to lure people to spend and after 2001...then IN RECKLESSNESS and GREED raised rates 17 times in row pushing millions of adj. rate mortgaged homes into foreclosure...many of these homes were double and triple insured through repackaging on Wall Street. The Fed and Wall Street has reaped billions from defaults then were given taxpayer money too! These actions and have hurt billions of people and brought the world financial system to its knees. The Federal Reserve and banks should be forced to give back their profits to the people.
True, "banka should give their profits back to the people", and although I'm all in favor of taking down today's ineffective and inefficient Top 10% Management Group of Business & Government, there's only one way to do it – by fighting bankers as bankers ourselves. Consequently, I have posted the Strategic Legal Policies, Organizational Operating Structures, and Tactical Investment Procedures necessary to do this at:
http://getsatisfaction.com/americanselect/topics/on_strategic_legal_policy_organizational_operational_structures_tactical_investment_procedures
Join
http://finance.groups.yahoo.com/group/StrategicInternationalSystems/
if you want to support a Presidential Candidate Committee at AmericansElect.org in support of the above bank-focused platform.
Is this an actionable cause? Can the 99 percent file a class action lawsuit against The Federal Reserve and its member banks. They have a dual mandate as inflation and jobs police (failed miserably with both...gas is still high as oil prices sink (wall st. fault of course) and ...can those who repackaged the loans and double and triple insured them as CDOs etc. be made party to the lawsuit as well? Rather see a settlement vs long drawn out battle. Perhaps moratorium on foreclosures? Perhaps bailout to those in need in the form of a claim again future social security payments (possible side benefit reducing social security obligations of the government). Rather see people survive today vs not make it until social security retirement.
Their profits already go back to "the people", aka the U.S Treasury.
A leading figure on this topic is Stephen Zarlenga at www.monetary.org
His Secret History of Money is a must read.
Is this an actionable cause? Can the 99 percent file a class action lawsuit against The Federal Reserve and its member banks. They have a dual mandate as inflation and jobs police (failed miserably with both...gas is still high as oil prices sink (wall st. fault of course) and ...can those who repackaged the loans and double and triple insured them as CDOs etc. be made party to the lawsuit as well? Rather see a settlement vs long drawn out battle. Perhaps moratorium on foreclosures? Perhaps bailout to those in need in the form of a claim again future social security payments (possible side benefit reducing social security obligations of the government). Rather see people survive today vs not make it until social security retirement.
Government needs to step in and shore up the real estate market??? Is this mess the result of deregulation plus an evil genius plan to transfer the wealth of the middle and upper middle to the top 1 percent? Is this an economic war waged by economic elite irrespective of their nationalities? Just wondering...seems so orchestrated...raising rates 17 times in a row for FEARS of inflation. Like using a elephant to step on a fly or something like that. Was FBI concerned about mortgage fraud and was that they remedy...seems insane in retrospect...kill the world economy to purge the fraud. Like killing the patients to kill the disease. My metaphors may be off today....but saw that you are from the University of Chicago....school of thought...