Olbermann: Blame for economic crisis goes beyond Washington

[20score]

Run time: 05:44 https://www.youtube.com/watch?v=2vL8B4YjoFM   Posted on YouTube: March 10, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: March 11, 2009 By DU Member: 20score Views on DU: 1082

 
Makes it a little hard for people to blame the victims after they know the facts. The financial industry and their minions in politics set the whole process up, took the money and ran, and are now blaming the people that made them rich. It's like coaxing someone to leave their doors unlocked by telling them "The neighborhood is safe," breaking in to the house, then blaming them for leaving their doors unlocked.

Maybe they should have locked the doors; but there is only one criminal in this scenario.

[Waiting For Everyman]

1. K&R An excellent summary by Olbermann of how this crisis was created.

This one, and the one he did last year about Phil Gramm's involvement are my two faves of his.

This crisis was no accident. It was planned and worked for, for a long time, by those who designed it as this makes clear.

This would be a great beginning outline for indictments. I'd like to see that beginning with full hearings on it, with everyone who enabled it, as mentioned in Keith's piece, called as witnesses. Then, I'd like to see an investigation into who profited from it, and the fullest possible restituion of those profits.

Just for starters.

That would end the myth of the subprime borrower. This video tells why that's absurd. This obviously didn't "just happen". Every loss that everyone has suffered is a direct theft by these perpetrators, just as much as if it was a stickup on the street. THAT theft needs to be addressed. And compensated - by federal programs to restore what was lost... be it a job, a home, savings, credit scores, everything. That, is justice. Nothing less, is.

[CubicleGuy]

2. I've had a feeling for a while now...

... that the bigwigs running the political and financial shows have known for a while now that the house of cards wasn't going to remain standing much longer, so they concocted a cynical plan to wring as much money from the little people as possible before it all comes tumbling down. They've got the power and access to the funds, they've got the intel, and the rest of us suckers can just go hang, survival of the fittest and all that.

[HowHasItComeToThis]

3. BINGO

[ihavenobias]

4. K & R n/t

[indepat]

5. Keith has brilliantly encapsulated many of the geneses of the

current financial meltdown, taking no prisoners in the process: five billion dollars spent to buy off pols et al has reaped hundreds of billions of dollars of ill-gotten gains for Wall Street and ten of trillions of dollars of ruin for the world. :P