Monday, October 10, 2011

Economic Crimes and Government Corruption

This graph from the NY Times nicely sums up what it means to have a government that covers up banking fraud: the bottom 90% pay the price...

Click to Enlarge

Here is what Obama has not faced up to and the real reason why Occupy Wall Street protests are spreading across the US: Real household income has fallen by about 10 percent since the start of the last recession, with a greater decline after the recession ended.

If you read Ron Suskind's book Confidence Men: Wall Street, Washington, and The Education of A President, then you will understand why this banking crisis continues to grow as a metastasizing cancer. The Republicans and Bush laid the groundwork that led to the explosion of corporate crime. But Obama sits in the pocket of Wall Street lobbyists and has done nothing to cauterize the wound and help America recover.

You might do a little reading here, and here and here and here.

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