As the US economy continues to struggle, it seems Wall Street and big banks are doing better than ever. The income disparity gap in the United States is the largest of all the developed industrial nations. The Trends Research Institute Director Gerald Celente says the American Empire is collapsing and the banks have committed the greatest bank robbery in the history of the world.
Want to get away with murder? Become a bank!
The companies that helped create the financial meltdown that touched off the Great Recession have found yet another way to undermine the public's faith in capitalism: The Foreclosure Fiasco
GMAC and Bank of America have now resumed foreclosures in some states. By the time you see this, J.P. Morgan may have done so too.
The biggest danger to the U.S. capitalist system doesn't come from communists or community activists or left-wing academics. It comes from some of the nation's biggest financial institutions. These companies, which helped create the financial meltdown that touched off the Great Recession, have now found yet another way to undermine the public's faith in capitalism and markets: the foreclosure fiasco.
Even before the foreclosure problem appeared, the level of public distrust of our financial and political systems was approaching the pathological. It's going to get even worse when the true lesson of this episode sinks in. To wit: If you screw up big-time when you deal with a giant bank, you're toast. If the giant bank screws up when it deals with you, it gets a do-over.
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