Posts Tagged ‘Occupy’

The bank settlement doesn’t address the rampant fraud perpetuated by the banks. When asked, prosecutors and politicians say this is just the initial step. I don’t agree; when the dust settles (what little dust this will create), the banks will point to this settlement and say, “But we’ve paid our dues.” Further, politicians will look to this and say, “We made the banks pay!” Neither of which is true.

 

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There are entirely too many “coulds” and “mights” in this article. One other detail jumps out; if California receives 9 to 15 of the 25 Billion, a “couple hundred million” per remaining state is not valid. These banks are being given a free pass, especially when you consider how much the taxpayer has given them. We are literally paying the settlement for them.

 

 This is being touted as good news.  It is not.  For relative chump change, these banks will be indemnified for their crimes.  The same banks will then charge fees, recouped from the payout no doubt, to help a limited number of people. Be assured they are right now looking for any loophole that will allow them an out.    Be also assured their friends in the judicial and legislative systems are helping insert more of the same loopholes. 

 As always, Mish has great words.  However, the comment thread is even better than Mish’s post…it gets deep fast.

There’s a meme making the rounds wherein military folks are posting images stating they are the .001%, in contrast (counterprotest?) to the 99% claimed by the Occupy movement.  This is a false juxtaposition…and a false dichotomy.  Many of the military members, past and present, are in fact part of the 99%.

The Psy-Fi blog has a great post today that for me sums up what both the Tea Party and Occupy movements mean.

The rise of protest movements, from the Tea Party to Occupy Wall Street, are a reaction to a perception of the subversion of democracy. 

My only quibble is the word perception.  The corporations and politicians have subverted democracy.  That said, the whole post is fantastic and well worth your time and consideration.

Perhaps more specifically, the GOP is underestimating the public’s ability to see through their painting the Occupy movements as some type of tinpot movement.  There are serious and legitimate reasons for the outrage that’s manifesting as these movements.  By failing – utterly failing – to acknowledge these reasons (namely, corporate and government cronyism and the abandonment of the citizenry to corporate profit) the GOP is itself failing.

That said – in the interest of balance – I don’t think the DNC is looking out for the people, either.