The Banksters’ Agenda – Greed And Blood
Goldman Sachs, a part-owner of the Federal Reserve, played a key role in the 2008 credit crunch. The bank is still willing to market questionable products no matter the consequences to clients or society.
The bigger problem is that as long as the private central and commercial banksters create money from nothing, i.e. legalized counterfeiting, and hide behind the shield of corporation personhood, LLC liability exemption and government guaranteed loans, they will keep expropriating from THE PEOPLE and will keep passing their liabilities on the taxpayers, and the ordinary family will continue to be reduced to perpetual and permanent poverty in subservience to the Banksters and their associates.
There is no end in sight to the Elites’ stealing taxpayers past, present and future wealth.
Robert Reich: “Mr. president [Greenspan], how can a shy Jew like you become the most powerful man in the United States … you pimp of that robber band of yours.” — “Der Spiegel” (Germany), 18/1997, p. 163
“In 1928, Goldman Sachs and Company created the Goldman Sachs Trading Corporation, which promptly went on a speculative binge, luring innocent investors along the way. In the Great Crash of 1929, Goldman’s investors lost their shirts but Goldman kept its hefty fees. …“
“In the late 1920s, National City Bank, which eventually would become Citigroup, repackaged bad Latin American debt as new securities, which it then sold to investors no less gullible than Goldman Sachs’. After the Great Crash of 1929, National City’s top executives helped themselves to the bank’s remaining assets as interest-free loans while their investors and depositors were left with pieces of paper worth a tiny fraction of what they paid for them. …“
“The problem is endemic abuse of power and trust. ...”
“Moreover, finance has become so complex that investors don’t even know when they’re being taken for a ride, and so can’t possibly hold a brand-name bank responsible for their losses — or for gains that are a fraction of what they might otherwise have been….“
“After millions of investors lost everything in 1929, the federal government stepped into the breach with the Securities Acts of 1933 and 1934 and the Banking Act of 1933, sponsored by Senator Carter Glass and Congressman Henry Steagall. But starting in the 1970s and 1980s, Wall Street made sure the regulations issued under them were steadily watered down — which contributed to the junk-bond and insider trading scandals of the 1980s, the dot-com scams of the late 1990s and early 2000s, the Wall-Street enablers of Enron and other corporate looters, and the wild excesses that led to the crash of 2008.“
“Wall Street’s shenanigans have convinced a large portion of America that the economic game is rigged. Yet capitalism depends on trust. Without trust, people avoid even sensible economic risks. And when they think the game is rigged, they’re easy prey for political demagogues with fast tongues and dumb ideas. …“
Robert Reich is Professor of Public Policy at the University of California at Berkeley. He has served in three national administrations, most recently as secretary of labor under President Bill Clinton.