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Platinoid
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Simon Johnson On the Quiet Coup d'Etat in the Anglo-American Financial System

- Jesse - Jesse's Cafe

It was arrogant of the Clinton administration to hand out mortgages to subprime lenders, those in his constituency whom never had the means or intent to repay. Fascism was the ink and paper that wrote the Community Re-investment Act.

He set up Freddie and Fannie to bundle the trash, and take it to the curb: Wall Street, the big banks of Europe, and investors all around the world.

Obama made the crisis his opportunity for radical change. He embraced corporations like GE and gave them massive tax tax cuts and grants. He took billions out of the savings of the bond holders of GM and Chrysler and re-distributed it directly to the unions. He let Goldman Sachs off hook. He paid of his bag men at Solyndra.
He warped the health care system to siphon off hundreds of billions in premiums into government coffers.

Crony Capitalism? Facism? Yes, but the author fails to mention that these 'arrogant oligarchs' were enabled by a policy written by redistributive liberals under the guise of social justice. It is bringing the house down.

Commented 4246 days ago

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Beginning of the headline :This is a reprise of an interview with MIT economist Simon Johnsonwhich was posted here in February, 2009. Have we heeded Simon Johnson's warning? Has he proven to be prescient?Is crony capitalism and thekleptocracy becoming bolder, more aggressive, ever more demanding? "I think I'm signaling something a little bit shocking to Americans, and to myself, actually... Read More

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