Bill Moyers/Michael Winship: How Banksters Rig the System

[marmar]

from Consortium News:



How Banksters Rig the System
July 13, 2012

The Libor scandal is just the latest revelation of how the VIPs of high finance rig the system for themselves and their friends while millions of “common people” are driven into poverty. But the fix is also in when it comes to buying political protection, write Bill Moyers and Michael Winship.

By Bill Moyers and Michael Winship


Every day brings more reminders of the terrible unfairness that besets our country, the tragic reversal of fortune experienced by millions who once had good lives and steady jobs, now gone.

An article in the current issue of Rolling Stone chronicles “The Fallen: The Sharp, Sudden Decline of America’s Middle Class” and describes a handful of middle-class men and women made homeless, forced to live out of their cars in church parking lots in Southern California.

One of them, Janis Adkins, drove a van filled with her belongings to Santa Barbara, where she panhandled at an intersection with a sign reading, “I’d Rather Be Working – Hire Me If You Have a Job.”

Once upon a time she had a successful plant nursery business in Utah that annually grossed $300,000. But two years after the nation’s financial meltdown her sales had dropped by 50 percent and the value of her land plunged even more. She tried to refinance but four banks turned her down flat. ...................(more)

The complete piece is at: http://consortiumnews.com/2012/07/13/how-banksters-rig-the-system/