The shrinking number of U.S. banks but growing assets – From 12,000+ in 1990 to roughly 7,000 today. The rise of the too big to fail banking system. Are bank hours conducive to the working and middle class?
Some people have a hard time believing that prior to the Great Depression, there was a point in U.S. history where we had over 20,000 various and diverse banks in the country. These banks would boom and bust and with no FDIC insurance, placing your money in a bank was a risky proposition. The Federal [...]
Controlling the wealth of America – top 1 percent control 83 percent of U.S. stocks. As a share of personal income mortgage debt ate up 19 percent in 1949. In 2003 it went up to 85 percent. 80 percent of Americans 65 years and older depend on Social Security for half of their income.
Mayer Rothschild was quoted as saying “give me the power of the money and it will not matter any more who is commanding.” Today Wall Street is in full command of our government. The impact of massive lobbying has guaranteed that many of our politicians are bought off and are serving as serfs to their [...]
The Synthetic Recovery – Wall Street banking success dependent on destroying the productive sectors of our economy.
I’m certain that many of you are taking a glimpse at the bread and circus Goldman Sachs hearings. At one point in the hearings, an attempt to define derivatives came up. Yet when the Goldman bankers tired explaining their derivative bets, it came out as contempt for the public and representatives. They rather not explain [...]