Posted 7 years ago on Jan. 20, 2013, 2:04 a.m. EST by TrevorMnemonic
This content is user submitted and not an official statement
They Should Have Let the Banks Fail: How every phony who voted for TARP fucked you over and is still fucking you over to this day.
The permanent bailout state is for the continued empowerment of the 1%, it's not about saving the economy and American jobs.
Your money is backed by the FDIC up to $250,000.... backed by the FDIC thanks to the Glass-Steagall act, which the Wall Street government effectively destroyed most of in 1999 with the Financial Modernization Act. But luckily the FDIC still backs your money.
The banks are fraudulent and fucking people over by stealing their homes, pensions, 401ks, investments, and destabilizing the economy creating massive job loss. They keep you in massive debt with student loans in a society with growing inflation and decreasing opportunity with low wage part time jobs. They keep you in debt with mortgages and much more. These banks buy our government to then further allow them to fuck us over. In some cases, like HSBC, they directly fund terrorism and drug cartels.
The banks fail, the debts to those banks go away.
Money given to banks via subsidies, TARP programs, etc all a waste to keep people in this debt based society where the 1% reign elite and allows the banks and corporations to loot the treasury.
The trillions of dollars of government funds being spent to sustain these corrupt corporations could have been used to renovate the economy. We could have saved 10's of millions of Americans from poverty.
instead of TARP alone we could have started 10 new banks with 35 billion dollars each and a 10 to 1 leverage to open new credit markets. Instead bonuses were paid to CEO's of failing banks and people remain in debt to frauds.
If the government was trying to help you when it comes to the Wall Street hacks, they'd be pushing reforms that block banks from selling debts, they wouldn't make it near impossible to file bankruptcy, or prevent you from getting benefits in your old age due to student loan debts. They'd prosecute HSBC, Goldman Sachs, Bank of America, and the other big banks for their acts of fraud, reform them into smaller banks and break up the monopolies, or like previously suggested create new banks instead. They wouldn't have voted for TARP, instead if they were legit, they'd reform monetary policy to support job growth, societal advancement, social programs, healthcare, and much more. But they are praising the current system that is just printing off trillions for banks and profits for the 1%.
You can't depend on people funded by Wall Street to save you from Wall Street.
"You are not a loan" - one of my favorite slogans from OWS.
The good paying jobs are gone and they're not coming back under this system of corporatism. What hasn't been outsourced to foreign labor will slowly or even quickly be turned into part time work so they don't have to pay benefits and further create a desperate work force willing to work for less under an employers market. That's right, they're coming for the full time jobs next. Along with stagnant wages you will slowly get pushed closer to the poverty line, or if you're already there, even further below the poverty line due to inflation.
"So just strap on your job helmet, and squeeze into a job cannon and fire off into good paying job land, where jobs grow on jobbies!"