Which Bank Is the Worst for America? 5 Behemoths That Hold Our Political System Hostage

[Donnachaidh]

http://www.truth-out.org/which-bank-worst-america-5-behemoths-hold-our-political-system-hostage/1319299908

The economic crash led to the loss of 9 million jobs and the biggest drop in American home-ownership since the Great Depression.

Long-term unemployment, poverty and hunger have increased dramatically. People are angry. The Occupy Wall Street movement, a stand against Wall Street's greed, excess and criminality, has captured the imagination and participation of millions across the nation and the globe.

The giant mortgage bubble and the irresponsible and corrupt practices that caused the catastrophic economic crash didn't emerge out of thin air. They were a consequence of decades of pay-to-play politics rife with conflicts of interest; a political system awash in cash and legal pay-offs, designed to undermine the checks and balances that could have prevented the meltdown.

Many of these checks and balances were implemented during the Great Depression. How they were eroded and eventually abandoned is the story of a small group of banks, financial companies and elites involved in major conflicts of interest, revolving-door politics and backroom deal-making -- all to protect the interests of the global elite at the expense of the American public.

More at the link --

[OmahaBlueDog]

1. History will say that the biggest missed opportunity of the Obama years was not breaking them up

Goldman, being an investment bank, would have been problematic. However, given the Scope of the bailout and the severity of the issues presented to the Treasury in Winter 2008/2009, I think the Feds could have justified a Federal takeover of the other four, followed by a breakup and a selloff of the pieces.