Back to the banks: I have been reading complex web posts showing how the stress tests of banks were rigged and more may be needed. I have been reading about how the unemployment figures undercount folks out of work with the real numbers probably doubled, with minorities possibly tripled. I have been reading essays arguing that the notion that the government is “saving jobs” is not quantifiable with no statistical back up.
I have been following the campaign to get the Federal Reserve Bank to disclose it’s showering of money on financial institutions—something it refuses to do,
Who can we trust and bank on? The President wants to give us confidence but seems to be playing a confidence game. The Banks are dissembling when they are not lying. The most trenchant critics—May they be wrong—believe a total collapse is in the offing,
And the rest of us, mostly puzzled and paralyzed, unable to comprehend the severity of the situation, the billions, no make that trillions, gone. How do we make sense of the game playing in State Governments like those in California and New York a caricature of responsibility? The jobs are going and the Banksters are still going for it, sucking up what they can in a race to the bottom.
Who can we trust? Who Can We Bank on? You tell me.
Mediachannel’s News Dissector Danny Schechter is making a film based on his book PLUNDER: Investigating Our Economic Calamity (newsdissector.com/plunder) Comments to Dissector@mediachannel.org
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