NOW it is America’s TURN to Break up TOO-BIG-TO-FAIL!
By Daniel at 26 October, 2009, 8:33 am
If they don’t do it Voluntarily then MAKE THEM DO IT!
America can NOT afford to cover $600 to $700 Trillion in TOXIC DERIVATIVES!
That is $6 to $7 Million per family in America!
Famous Wall Street Billionaire EXPERT and TRADER Wilbur Ross said,
“We are in the Midst of what will turn out to be by future economic historians to have been an epic moment, namely the most MASSIVE transfer of liabilities (DEBTS) from the private sector (Banking and Corporations) to the public sector (Government and the People) that the world has ever seen. And I think that is going to be a painful and relatively slow process..(taking many years).”
Debt from WS Banks to Government = Wealth from Government to WS Banks!
$700 Trillion Toxic Derivatives “OFF-BALANCE-SHEET”/100 Million Families=$7 Million/Family
http://www.cnbc.com/id/15840232?video=1174574949&play=1
Skip 2/3rds of way to 7:58 mark!
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Robert Re!ch article on Why Big Banks Should Be Broken Up (see link)
Why White House+Congress Don’t Want To
Summers+Geithner+Rubin+Greenspan (SGRG)=Urged repeal of Glass-Steagall
SGRG = + Removal of Commodity Futures Trading Corp + Deregulation
5 Wall Street behemoths (WS 5), bigger than before Meltdown = Pay fatter Incomes!
WS 5 are Raking in huge profits knowing 0bama Admin will bail them out if they FAIL!
http://robertreich.blogspot.com/2009/10/too-big-to-fail-why-big-banks-should-be.html
- Jackson Andrew
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