Elizabeth Warren Embarrasses Hapless Bank Regulators At First Hearing (VIDEO) - HuffPo

[truedelphi]

107. What we are all witnessing is the end of any type of democracy in our God-forsaken nation

It's nice that one junior Senator is asking questions. But what is most important is that in our country, our electoral system gives us a choice between two people, both of whom are for the Big Financial Firms. The appointments the winner of that debacle makes are what the game is all about. Like the "Onion" reported the other day, the remaining 47 members of the Middle Class were all very happy to hear Obama's pronouncements of going to bat for them during his SOTU. I almsot laughed but it's not funny - there are around 47 members of the Middle Class left standing.

Obama could be appointing people like Neil Barofsky to head the Treasury or SEC. He could be appointing people like Sheila Bair. Or for that matter, Mr Sandy Weill (As long as Sandy keeps to his ideas about breaking the banks up.)

Instead we have had four years of Tim Geithner, and now we get Jack Lew. Right now the USA is a nation wherein for every dollar of profit generated in the country, some 47 cents are going to the coffers of the world's largest banks and financial firms.

In our parents' generation, this was something like 8 to 9 cents out of every dollar of profit.

And the whole system is one giant Ponzi scheme. Plus the system is suffering with the afflictions that the Mafia used to utilize ramped up a 1,000 notches. I remember my dad grumbling abut the poor saps in Chicago who borrowed money from Guido, for 150% interest per year. Now some fifty years later, and we all are hearing that the Big Banks are lending money out to the community on Main Street once again. But what they mean by that is an individual can go into ta PayDay loan firm and get a loan for which they will be required to pay some 900% interest!!!