The Financial Reform Bill has been passed by Senate-House Conference Committee and was hailed by the President as 90% of what he wanted. He didn’t want much and he got that - not much. Bank stocks went up immediately on the news that most meaningful reforms had been stripped out of the bill and plenty of loopholes had been cemented into place to keep the remainder of reforms from having any effect.
The big banks will not be broken up even though they are much bigger now than they were when their failure in 2008 threatened the end of civilization.
Let’s be clear, these behemoth banks have been insolvent for many years, probability since the Reagan Recession in the 1980’s. The entire ponzi scheme of financial services that they portray as an “industry” produces nothing and exists only to pump up their balance sheets so the people at the top can take trillions for themselves.
They don’t even make a pretense of doing banking anymore but simply harvest the wealth of the middle class. As the money comes into 401k’s and pension plans it goes straight into their pockets. What they are doing is no different than what Bernie Madoff did except that they had Reagan, Bush and Clinton decriminalize their activities first.
Today’s bill did little if anything to change the nature of this ongoing criminal conspiracy and it won’t mitigate the damage that they’ve done. It would be far cheaper to pay these parasites billions each year to sit around the pool like some sort of Royal Family than to let them continue to meddle in the economy and our government. But like feudal lords they scramble and jostle for more wealth and power. Some lords who wear a “D” on their coat of arms believe in treating the peasants humanely most of the time but none hesitate to sacrifice peasants by the millions for the “good” of the kingdom. (that would be for the good of the lords, not for the good of the peasants)
The whole concept of the “straw man” comes from the practice of using a dummy stuffed with straw to frighten the villagers into hating and fearing the people just like themselves who live in the next baronage. These little wars were staged events that rarely changed anything but it kept the lords in wealth and power.
The newest straw man is the looming debt, debt is an artificial construct, it does not exist, it‘s a mythical dragon we sacrifice our children to. It is even less real than paper money, but the barons and earls have their town criers on the corporate media calling “Austerity, Austerity!” Fear of the debt dragon is being used to justify more and more sacrifices from the peasants.
The Lords who say “NO” have decreed that the out of work peasants will no longer get any gruel to live on and “NO” to paying the wise women that teach the peasants’ children, the little spear carriers just need to know which end is sharp and how to march toward the cannons. These Lords who wear “R” also told the healers who help the poor that they will get no raise in fees from the Lords and the healers can just let the peasants die. It is a subtle thing, none but the passengers will care that the death cart is more crowded.
We hailed our new King as the Champion of the People who would slay the dragons and bring back the Magna Carta. He promised to stop sending peasants to fight in distant lands (except for the “good” war, you know, we saw the straw man show in the village square)
Now our King has gone to Canada to meet with the representatives of the other peerages at the G-20 to discuss how the peasants will be brought into line. Austerity, Austerity is the cry, peasants must die or the dragon will get us all. If you need a job, you can pull the death cart. www.prairie2.com