Saturday, February 29, 2020

JOE BIDEN WINS! - WALL STREET BANKSTERS SMELL BOTTOMLESS BAILOUTS AHEAD


Before his first day in office Barack Obama had sucked in more bribes from banksters than any president in history.

During the economic meltdown caused by Obama’s crony banksters, and Obama’s first two years in office, banks made more money than eight years under pro-bankster administration of George Bush.

Both of Obama’s Attorney Generals, Eric Holder and Loretta Lynch, were chosen by the banks because they were from law firms that had long protected big banks from their victims.

"This is how they will destroy America from within.  The leftist billionaires who orchestrate these plans are wealthy. Those tasked with representing us in Congress will never be exposed to the cost of the invasion of millions of migrants.  They have nothing but contempt for those of us who must endure the consequences of our communities being intruded upon by gang members, drug dealers and human traffickers.  These people have no intention of becoming Americans; like the Democrats who welcome them, they have contempt for us." PATRICIA McCARTHY

A key factor in Obama’s newfound and growing wealth are those who profited from his presidency. A number of his public speeches have been given to big Wall Street firms and investors. Obama has given at least nine speeches to Cantor Fitzgerald, a large investment and commercial real estate firm, and other high-end corporations. According to records, each speech has been at least $400,000 a clip.
During his presidency, Obama bragged that his administration was “the only thing between [Wall Street] and the pitchforks.”
In fact, Obama handed the robber barons and outright criminals responsible for the 2008–09 financial crisis a multi-trillion-dollar bailout. His administration oversaw the largest redistribution of wealth in history from the bottom to the top one percent, spearheading the attack on the living standards of teachers and autoworkers.

“This was not because of difficulties in securing indictments or convictions. On the contrary, Attorney General Eric Holder told a Senate committee in March of 2013 that the Obama administration chose not to prosecute the big banks or their CEOs because to do so might “have a negative impact on the national economy.”

Joe Biden, the walking moron, was selected by Obama also because of his ties and servitude to big banks!

OBOMB'S CRONY BANKSTERS DESTROYED MORE 

THAN A TRILLION DOLLARS IN AMERICAN HOME 

VALUES AND NOW THEY'RE COMING BACK FOR MORE WITH THE BANKSTES' RENT BOY BIDEN!


Decades of decaying capitalism have led to this accelerating divide.

While the rich accumulate wealth with no restriction, workers’ wages

and benefits have been under increasing attack. In 1979, 90 percent of

the population took in 70 percent of the nation’s income. But, by 2017,

that fell to only 61 percent.


NO PRESIDENT IN HISTORY SUCKED IN MORE BRIBES FROM CRIMINAL BANKSTERS THAN BARACK OBAMA!
This was not because of difficulties in securing indictments or convictions. On the contrary, Attorney General Eric Holder told a Senate committee in March of 2013 that the Obama administration chose not to prosecute the big banks or their CEOs because to do so might “have a negative impact on the national economy.”

Income inequality grows four times faster under Obama than Bush …. we bankroll Mexico's welfare state in our borders as the number of Americans (Legals) sink into poverty! Illegals also get all the jobs!


The study noted that, in the aftermath of the Great Depression, the US undertook policies “during the New Deal [that] permanently reduced income concentration until the 1970s.” In contrast, the study noted a striking absence of any measures to reign in social inequality in the present crisis. Far from it, the Obama administrations’ bank bailouts, austerity program and wage-cutting policies have vastly expanded the prevalence of social inequality.


OBAMA’S CRONY BANKSTERISM
THE FED'S OLD BOY NETWORK

By Attorney Jonathan Emord
Author of "The Rise of Tyranny" and
"Global Censorship of Health Information"
December 19, 2011
NewsWithViews.com
Bloomberg LP, parent of Bloomberg News, performed an enormous service for the American public when it sued the Federal Reserve and the Clearing House Association LLC, an institution created by several of the nation’s largest banks, to force disclosure of secret loans made by the Federal Reserve principally to the six largest U.S. banks but also to certain foreign banks. The treasure trove of evidence ultimately obtained by Bloomberg reveals that while the public Troubled Asset Relief Program (TARP) bailed out leading Wall Street firms for the whopping sum of $700 billion, the Fed at the same time doled out some $7.77 trillion (an astronomical sum equal to have the gross domestic product). To make matters worse, the Fed expanded its emergency discount lending program, giving tens of billions more to the same banks at an interest rate of 1%, while the prime lending rate stood at over 3%. The banks getting these funds often turned them into profit centers, lending out proceeds from them at higher interest rates and pocketing the difference, profiting on federal largesse.

The President and his top economic advisers bought the “too big to fail” concept, the notion that regardless of how profligate, irresponsible, even criminal, heads of the leading financial institutions in America had been, it would be worse for the nation if those institutions were to collapse. Consequently, while pushing a legislative agenda of public bail-outs, the Obama Administration maintained a secret program of multi-trillion dollar loans, including billions at below market interest rates. The principal recipients of the funding were JPMorgan, Bank of America, Citigroup Inc., Wells Fargo & Co., Goldman Sachs Group Inc. and Morgan Stanley.
The General Accounting Office audit of the Federal Reserve revealed that some $16 trillion was supplied in secret loans from the Federal Reserve between December 1, 2007 and July 21, 2010. The largest single recipients were Citigroup ($2.5 trillion); Morgan Stanley ($2 trillion); Merrill Lynch ($2 trillion); Bank of America ($1.3 trillion); Barclays PLC ($868 billion); Bear Stearns ($853 billion); Goldman Sachs ($814 billion); the Royal Bank of Scotland ($541 billion); JP Morgan Chase ($391 billion); and Deutsche Bank ($354 billion).
Bloomberg discovered that while top banks were touting in their press releases during the crisis that they had fiscal soundness, their balance sheets were made up primarily of federal funds, most from the Federal Reserve. Moreover, while many banks paid back the TARP funds, they most often did so in reliance on the secret receipts of tens of billions of dollars in Federal Reserve money (in other words, the pay back was in that sense a charade: federal money paid back federal loans). In short, the Administration was complicit in the orchestration of a massive fraud on the American public, making it seem that the banks largely responsible for the financial crisis were weathering the storm of their own accord when in fact they were on board the good ship U.S. Taxpayer.
Meanwhile, the bad lending and financial dealing practices that helped produce the financial crisis have been largely kept in place, underwritten by the federal government. The top banks suddenly realized that far from having to suffer ignominy and defeat for their abuses, they would be kept alive by a seemingly endless flow of federal cash. Indeed, the feds accepted as collateral for loans securities of virtually no worth and other properties that would never support private commercial lending. By propping up the major banks despite their irresponsible lending practices, the federal government has given them a privileged financial status whereby private lenders will give them terms far more favorable than their smaller competitors because they understand the federal government will not let them fail. Economist call this safety net a “moral hazard” (effective federal underwriting for heightened risk taking that permits these lenders to profit at above market rates of return in speculative investing without suffering financial liability for loss). The amounts doled out by the federal government to the banks could have paid off as much as one tenth of all of the delinquent mortgages, Bloomberg determined.

Rather than be forced to take their losses on their enormous junk portfolios and interbank lending practices, the top six banks were allowed to keep the junk portfolios, maintain their dubious lending practices, and turn to the Federal Reserve for money on demand whenever problems arose. Repeatedly when the banks should have gone under due to poor lending practices and grossly speculative profiteering, they were complimented by the Federal Reserve, rescued, and then allowed to tout the falsehood that their success came from sharp management rather than from secret loans. At the same time, these banks and others have shut down commercial lending for small businesses nationwide.
The “too big to fail” justification for the massive federal welfare dole to the top six United States banks was based on a faulty premise. Without question the demise of the leading banks would entail hardship, particularly for the employees of those institutions, but the long term prognosis was good for a restructuring of the financial market through bankruptcies and takeovers. The alternative to allowing the market to impose its own swift and harsh corrective involves imposing a massive burden on every American citizen for generations to come for the trillions spent to prop up a few dozen Wall Street moguls. Rather than have the taxpayers pay an inflated sum to keep the banks responsible for the financial crisis alive, the nation could have spared itself an assumption of massive debt and witnessed the demise of these banks and the rise of new competing financial institutions based on a solid financial model.
The Bush and Obama Administration’s role as Santa Claus for Wall Street has kept from Wall Street the needed lessons that would have otherwise come from the collapse of the major lending institutions. Painful as it may seem to some, it is far better to allow the market to experience a correction for profligate lending practices than to force the American taxpayers for generations to come to pay for the bad decisions made by a few and to let those few go without suffering a single consequence beyond temporary embarrassment.

Obama paid $600,000 for a single speech

 
In the two years since leaving the White House, former President Barack Obama has spent his time raising and solidifying his position in the uppermost echelons of the top one percent of Americans. Obama has raked in exorbitant amounts of money for public speaking events and made deals worth millions with multiple companies.
Despite his quip, made during the depths of the Great Recession, that “at a certain point you’ve made enough money,” there seems to be no such limit for the Obamas. His family has amassed so much wealth that even Obama himself said he was surprised in a speech in South Africa last year.
Since he left office, the former president has given an estimated 50 speeches a year to corporate audiences for hundreds of thousands of dollars per event. In 2017, the same year he left office, Obama was officially recognized as one of the top ten highest paid public speakers in the US.
Just last month, Obama was reported to have been paid nearly $600,000 to speak at the EXMA conference in Bogotá, Colombia. According to the Bogotá Post, EXMA is Colombia’s largest marketing and business event of the year and one of the largest in Latin America. Simply titled, “A conversation with President Barack Obama,” his talk purportedly addressed “influential growth strategies” in marketing and other aspects of the marketing economy.
Colombia is infamous for the corruption prevalent in its public sector and military, 
which costs the country $17 billion a year, equivalent to 5.3 percent of its GDP. 
Colombia exports half of the world’s cocaine and its drug cartels have been known
to have a hand in the government. Corruption and drug money are so rampant that
Colombia’s Inspector General likened it to “the new cartel.”
While Obama warns of the danger of “exploding inequality” in his speeches, the massive sum granted to him for one night in Bogotá is more than 10 times what the typical household in the US makes in a year, and 72 times the average worker’s annual income in Colombia.
Notably, Obama’s purse was nearly triple the amount Hillary Clinton was paid for her notorious speeches to Goldman Sachs that revealed her and the Democratic Party as Wall Street stooges. Former President Bill Clinton was paid just $200,000 per speech when he toured Latin America in 2005.
A key factor in Obama’s newfound and growing wealth are those who profited from his presidency. A number of his public speeches have been given to big Wall Street firms and investors. Obama has given at least nine speeches to Cantor Fitzgerald, a large investment and commercial real estate firm, and other high-end corporations. According to records, each speech has been at least $400,000 a clip.
During his presidency, Obama bragged that his administration was “the only thing 
between [Wall Street] and the pitchforks.”
In fact, Obama handed the robber barons and outright criminals responsible for the 2008–09 financial crisis a multi-trillion-dollar bailout. His administration oversaw the largest redistribution of wealth in history from the bottom to the top one percent, spearheading the attack on the living standards of teachers and autoworkers.
Under Obama’s watch the stock markets soared as the Dow Jones Industrial Average increased by 149 percent. Meanwhile, the “war on terror” in the Middle East was expanded with Obama becoming the first president to spend every day of his two terms at war, much to the delight of the military-industrial complex.
As the wars raged on and the financial oligarchs fattened themselves off the ever-increasing mountain of wealth being concentrated at the top of society, real wages stagnated and an unprecedented opioid overdose crisis spun out of control. Rising numbers of “deaths of despair” during Obama’s tenure, particularly among the working class, resulted in a decline in life expectancy unprecedented in the modern era.
In addition to monetary rewards for his service to the financial elite and military-intelligence apparatus, Obama has been lavishly feted by socialites and billionaires such as Richard Branson. Obama was Branson’s special guest in 2017 on a private island where the pair were seen kite surfing and enjoying the amenities of Branson’s exclusive resort.
Michelle Obama has also benefited after the family’s departure from the White House. The couple signed a $65 million book deal with publishing company Penguin Random House for their political memoirs. Michelle’s memoir “Becoming” was the best-selling book of 2018 with over 10 million copies sold. The pair also signed multi-year deals with Netflix and Spotify to produce content aimed at “fostering dialogue” and promoting diversity in entertainment.
Obama’s lucrative post-White House career hobnobbing with the corporate, entertainment and financial elite epitomizes the revolving door relationship between the US government and the private sector. Obama’s rewards are simply retroactive bribery for services rendered to the capitalist elite, who have welcomed him with open arms.

They Destroyed Our Country
“They knew Obama was an unqualified crook; yet they promoted him. They knew Obama was a train wreck waiting to happen; yet they made him president, to the great injury of America and the world. They understood he was only a figurehead, an egomaniac, and a liar; yet they made him king, doing great harm to our republic (perhaps irreparable.)”
THE RISE TO POWER OF BANKSTER-OWNED BARACK OBAMA
'Incompetent' and 'liar' among most frequently used words to describe the president: Pew Research Center
The larger fear is that Obama might be just another corporatist, punking voters much as the Republicans do when they claim to be all for the common guy.
OBAMA'S ASSAULT ON AMERICA -WHY WALL STREET, ILLEGALS, CRIMINAL BANKSTERS and the 1% LOVE HIM, AND THE MIDDLE CLASS GETS THE SHAFT TO PAY FOR HIS CRONY CAPITALISM
CEO pay is higher than ever, as is the chasm separating the rich and super-rich from everyone else. The incomes of the top 1 percent grew more than 11 percent between 2009 and 2011—the first two years of the Obama “recovery”—while the incomes of the bottom 99 percent actually shrank.
Meanwhile, Obama is pressing forward with his proposal, outlined in his budget for the next fiscal year, to slash $400 billion from Medicare and $130 billion from Social Security… AS WELL AS WIDER OPEN BORDERS, NO E-VERIFY, NO LEGAL NEED APPLY TO KEEP WAGES DEPRESSED

OBAMA AND BIDEN: SERVANT OF THE 1% 

Richest one percent controls nearly half of global wealth 

The richest one percent of the world’s population now controls 48.2 percent of global wealth, up from 46 percent last year.


The report found that the growth of global inequality has accelerated sharply since the 2008 financial crisis, as the values of financial assets have soared while wages have stagnated and declined.

Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.

THE WALL STREET BOUGHT AND OWNED DEMOCRAT PARTY

SERVING BANKSTERS, BILLIONAIRES and INVADING ILLEGALS
“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes.  This is the way a great country is raided by its elite.” ----Karen McQuillan AMERICAN THINKER

Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.

THE CRONY CLASS:

Income inequality grows FOUR TIMES FASTER under Obama-Biden and their bankster regime than Bush.



“By the time of Bill Clinton’s election in 1992, the Democratic Party had completely repudiated its association with the reforms of the New Deal and Great Society periods. Clinton gutted welfare programs to provide an ample supply of cheap labor for the rich (WHICH NOW MEANS OPEN BORDERS AND NO E-VERIFY!), including a growing layer of black capitalists, and passed the 1994 Federal Crime Bill, with its notorious “three strikes” provision that has helped create the largest prison population in the world.”

“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes.  This is the way a great country is raided by its elite.” ----Karen McQuillan AMERICAN THINKER

Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.

INCOME PLUMMETS UNDER OBAMA AND HIS WALL STREET CRONIES


Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.

THE REAL ECONOMY:
US “retail apocalypse” expected to exceed annual high with more than 1,100 store closures announced in one day.
The declining living standards of the working class are feeding directly into the retail apocalypse and mass layoffs of retail workers will only exacerbate the issue. Workers’ wages have seen little to no growth in the last four decades, and any economic growth experienced since 2008 has gone to the wealthiest of the wealthy.
Why do all global billionaires want wider open borders, amnesty and no E-VERIFY?
Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.
AMERICA: THE ECONOMY IS RIGGED BY CONGRESS SO THE RICH BECOME SUPER RICH.
The American middle class gets the tax bills for Wall Street’s crimes and bottomeless bailouts!

Wealth concentration increases in US.



The latest research on wealth inequality by University of California economics professor Gabriel Zucman underscores one of the key social and economic trends since the global financial crisis of 2008. Those at the very top of society, who benefited directly from the orgy of speculation that led to the crash, have seen their wealth accumulate at an even faster rate, while the mass of the population has suffered a major decline.
The past 40 years have seen the consolidation of a plutocratic elite, which has subordinated every aspect of American society to a single goal: amassing ever more colossal amounts of personal wealth. The top one percent have captured all of the increase in national income over the past two decades, and all of the increase in national wealth since the 2008 crash.
“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes.  This is the way a great country is raided by its elite.” ---- Karen McQuillan AMERICAN THINKER

Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.

BILLIONAIRE BETO “BETOMATIC” O’ROURKE PROCLAIMS AMNESTY FOR 40 MILLION INVADING “UNREGISTERED” DEMOCRAT VOTING ILLEGALS.
No word on America’s homeless, housing or jobs crisis for Legals!

Joe Biden Fundraises with Wall Street During Donald Trump Rally

CHARLIE SPIERING
  18 Jun 201984

Former Vice President Joe Biden attended a fundraiser with Wall Street donors during President Donald Trump’s campaign kickoff rally in Florida on Tuesday.

It was the fourth New York City fundraiser for Joe Biden in about 24 hours.
The fundraiser was hosted by Eric Mindich, the CEO of Eton Park Capital Management with about 100 donors including Stephen Scherr, the executive vice president and chief financial officer of Goldman Sachs, H. Rodgin Cohen the senior chairman at Sullivan & Cromwell as well as former Clinton and Obama officials
Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.
“You know what I’ve found is rich people are just as patriotic as poor people,” he said. “Not a joke. I mean, we may not want to demonize anybody who has made money. The truth of the matter is, you all, you all know, you all know in your gut what has to be done.”
Biden warned that if Trump won re-election, he would “literally fundamentally change the nature of who we are and how we function.”
Biden boasted that Obama leaned on him to help bring members of Congress together during their administration.
“Folks, I believe one of the things I’m pretty good at is bringing people together,” he said. “Every time we had trouble in the administration, who got sent to the Hill to settle it? Me. No, not a joke. Because I demonstrate respect for them.”

Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.

AMERICA: THE RICH GET MUCH RICHER AND THE MIDDLE CLASS GETS BLUDGEONED…. Illegals get the jobs!

*
Why do the billionaire class all want wider open borders and hordes more “cheap” labor illegals? It’s all about keeping wages depressed for greater profits!

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“Today’s society benefits those who shaped it, and it has been shaped not by working men and women, but by the new aristocratic elite. Big banks, big tech, big multi-national corporations, along with their allies in the academy and the media—these are the aristocrats of our age. They live in the United States, but they consider themselves citizens of the world” Sen. Josh Hawley 

*


“Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people. To destroy this invisible government, to befoul the unholy alliance between corrupt business and corrupt politics is the first task of the statesmanship of today.” THEODORE ROOSEVELT
*

"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now."  ----  Patricia McCarthy - AMERICANTHINKER.com

*
“The couple parlayed lives supposedly spent in “public service”
into admission into the upper stratosphere of American wealth, with incomes in the top 0.1 percent bracket. The source of this vast wealth was a political machine that might well be dubbed “Clinton, Inc.” This consists essentially of a seedy money-laundering operation to ensure big business support for the Clintons’ political ambitions as well as their personal fortunes."
*

"The tax overhaul would mean an unprecedented windfall for the super-rich, on top of the fact that virtually all income gains during the period of the supposed recovery from the financial crash of 2008 have gone to the top 1 percent income bracket."

*

Graph from the Economic Policy Institute

Decades of decaying capitalism have led to this accelerating divide. While the rich accumulate wealth with no restriction, workers’ wages and benefits have been under increasing attack. In 1979, 90 percent of the population took in 70 percent of the nation’s income. But, by 2017, that fell to only 61 percent.
*

Millionaires projected to own 46 percent of global private wealth by 2019


While the wealth of the rich is growing at a breakneck pace, there is a stratification of growth within the super wealthy, skewed towards the very top.

At the end of 2014, millionaire households owned about 41 percent of global private wealth, according to BCG. This means that collectively these 17 million households owned roughly $67.24 trillion in liquid assets, or about $4 million per household.
By Gabriel Black
*
The massive increase in the value of the stock market, which only a small segment of the population participates in, means that the top 10 percent of the population controls 73 percent of all wealth in the United States. Just three men—Jeff Bezos, Warren Buffet and Bill Gates—had more wealth than the bottom half of America combined last year.

Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.

America Created Just 20,000 Jobs in February...and those all went to foreign born

Exclusive–Mo Brooks: ‘Masters of the Universe’ Want More Immigration to ‘Decrease Incomes of Americans’
Consequently, the pumping of ultra-cheap money into the financial system, fueling speculation and parasitism, together with ever-widening social inequality, is not a temporary measure but must be made permanent.
The declining living standards of the working class are feeding directly into the retail apocalypse and mass layoffs of retail workers will only exacerbate the issue. 
Workers’ wages have seen little to no growth in the last four decades, and any economic growth experienced since 2008 has gone to 

Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.

“US household net worth sees biggest fall since crisis”

“Trump Touts Legal Immigration System for ‘Our Corporations’ at Expense of 
American Workers “– JOHN BINDER

Trump’s shift from a wage-boosting legal immigration system to one that benefits corporations and their shareholders coincides with recent big business lobby influence over his White House, at the behest of advisers Jared Kushner and Brooke Rollins.
*
“Trump Abandons ‘America First’ Reforms: ‘We Need’ More Immigration to Grow Business Profits”  JOHN BINDER


Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.

Despite a booming economy, many U.S. households are still just holding on

https://mexicanoccupation.blogspot.com/2019/05/the-recovery-that-never-happened-except.html

"One of the premier institutions of big business, JP Morgan Chase, issued an internal report on the eve of the 10th anniversary of the 2008 crash, which warned that another “great liquidity crisis” was possible, and that a government bailout on the scale of that effected by Bush and Obama will produce social unrest, “in light of the potential impact of central bank actions in driving inequality between asset owners and labor."  

“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes.  This is the way a great country is raided by its elite.” ---- Karen McQuillan  THEAMERICAN THINKER.com

“Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people. To destroy this invisible government, to befoul the unholy alliance between corrupt business and corrupt politics is the first task of the statesmanship of today.” THEODORE ROOSEVELT


Jim Carrey: America ‘Doomed’ If We Don’t Regulate Capitalism"

The American phenomenon of record stock values fueling an ever greater concentration of wealth at the very top of society, while the economy is starved of productive investment, the social infrastructure crumbles, and working class living standards are driven down by entrenched unemployment, wage-cutting and government austerity policies, is part of a broader global process."


The father of US Treasury Secretary 

Steven Mnuchin just completed the most 

expensive purchase of a living artist’s work in 

US history, spending over $91 million on a 

three-foot-tall metallic sculpture. Ken Griffin,

the founder of hedge fund Citadel, 

recently dropped $238 million on a 

penthouse in New York City, the most 

expensive US home ever purchased. And 

Amazon’s Jeff Bezos, the world’s richest man, 

has invested $42 million in a 10,000-year 

clock.

Decades of decaying capitalism have led to this accelerating divide. While the rich accumulate wealth with no restriction, workers’ wages and benefits have been under increasing attack. In 1979, 90 percent of the population took in 70 percent of the nation’s income. But, by 2017, that fell to only 61 percent.

"This is how they will destroy America from within.  The leftist billionaires who orchestrate these plans are wealthy. Those tasked with representing us in Congress will never be exposed to the cost of the invasion of millions of migrants.  They have nothing but contempt for those of us who must endure the consequences of our communities being intruded upon by gang members, drug dealers and human traffickers.  These people have no intention of becoming Americans; like the Democrats who welcome them, they have contempt for us." PATRICIA McCARTHY

In 2014 the Russell Sage Foundation found that between 2003 and 2013, the median household net worth of those in the United States fell from $87,992 to $56,335—a drop of 36 percent. While the rich also saw their wealth drop during the recession, they are more than making that money back.
Between 2009 and 2012, 95 percent of all the income gains in the US went to the top 1 percent. This is the most distorted post-recession income gain on record.


Additionally, Koch spokespeople at the donors’ conference said the network has its sights set on pushing amnesty for millions of illegal aliens this year.

Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.



NO PRESIDENT SUCKED IN MORE BRIBES FROM BANKSTERS BEFORE AND AFTER HIS PRESIDENCY THAT BARACK OBAMA.

Trump criticized Dimon in 2013 for supposedly contributing to the country’s economic downturn. “I’m not Jamie Dimon, who pays $13 billion to settle a case and then pays $11 billion to settle a case and who I think is the worst banker in the United States,” he told reporters.
“The response of the administration was to rush to the defense of the banks. Even before coming to power, Obama expressed his unconditional support for the bailouts, which he subsequently expanded. He assembled an administration dominated by the interests of finance capital, symbolized by economic adviser Lawrence Summers and Treasury Secretary Timothy Geithner.”

Practically every cabinet appointee of Obama’s has close personal connections to the ruling class, many having come directly from corporate boardrooms. Under Obama’s watch not a single executive at a major financial firm has been criminally tried, much less sent to jail, for their role in the financial crisis.
“Attorney General Eric Holder's tenure was a low point even within the disgraceful scandal-ridden Obama years.” DANIEL GREENFIELD / FRONTPAGE MAG
"One of the premier institutions of big business, JP Morgan Chase, issued an internal report on the eve of the 10th anniversary of the 2008 crash, which warned that another “great liquidity crisis” was possible, and that a government bailout on the scale of that effected by Bush and Obama will produce social unrest, “in light of the potential impact of central bank actions in driving inequality between asset owners and labor."  
This manufactured crisis has, in turn, been exploited by the Obama administration and both big business parties to hand over trillions in pension funds and other public assets to the financial kleptocracy that rules America.
“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes.  This is the way a great country is raided by its elite.” ---- Karen McQuillan  THEAMERICAN THINKER.com

“This was not because of difficulties in securing indictments or convictions. On the contrary, Attorney General Eric Holder told a Senate committee in March of 2013 that the Obama administration chose not to prosecute the big banks or their CEOs because to do so might “have a negative impact on the national economy.”
"One of the premier institutions of big business, JP Morgan Chase, issued an internal report on the eve of the 10th anniversary of the 2008 crash, which warned that another “great liquidity crisis” was possible, and that a government bailout on the scale of that effected by Bush and Obama will produce social unrest, “in light of the potential impact of central bank actions in driving inequality between asset owners and labor."  

$2,198,468,000,000: Federal Spending Hit 10-Year High Through March; Taxes Hit 5-Year Low

By Terence P. Jeffrey | April 10, 2019 | 5:09 PM EDT
(Getty Images/Ron Sachs-Pool)
(CNSNews.com) - The federal government spent $2,198,468,000,000 in the first six months of fiscal 2019 (October through March), which is the most it has spent in the first six months of any fiscal year in the last decade, according to the Monthly Treasury Statements.

The last time the government spent more in the October-through-March period was in fiscal 2009, when it spent $2,326,360,180,000 in constant March 2019 dollars.

Fiscal 2009 was the fiscal year that began with President George W. Bush signing a $700-billion law to bailout the banking industry in October 2008 and then saw President Barack Obama sign a $787-billion stimulus law in February 2009.

JPMorgan shares climb after the bank posts record earnings and revenue

Jamie Dimon arriving to testify before Congress. Aaron P. Bernstein/Reuters

·         JPMorgan reported first-quarter earnings results on Friday, kicking off another earnings season for the largest US banks.

JPMorgan Chase reported record first-quarter results on both the top and bottom lines Friday morning. Shares climbed 2.3% in early trading to $108.68.
Here's how the results stacked up with Wall Street's expectations as compiled by Bloomberg.

·         Adjusted net income: $9.18 billion versus $7.7 billion expected
·         Earnings per share: $2.65 versus $2.34 expected
·         Revenue: $29.85 billion versus $28.4 billion expected
·         Expenses: $16.4 billion versus $16.7 billion expected
"In the first quarter of 2019, we had record revenue and net income, strong performance across each of our major businesses, and a more constructive environment," CEO Jamie Dimon said in the earnings release. "Even amid some global geopolitical uncertainty, the US economy continues to grow, employment and wages are going up, inflation is moderate, financial markets are healthy, and consumer and business confidence remains strong."
A deeper look into the numbers showed the trading and investment-banking businesses exceeded expectations, though trading declined 17% from the year earlier:
·         FICC sales & trading revenue: $3.73 billion versus $3.67 billion expected
·         Equity sales & trading revenue: $1.74 billion versus $1.73 billion expected
·         Investment-banking revenue: $1.75 billion versus $1.63 billion expected

"The Federal Reserve is a key mechanism for perpetuating this whole filthy system, in which "Wall Street rules."

 

The effect can be seen in the ever more staggering wealth of the financial oligarchy, which has consistently enjoyed investment returns of between 10 and 20 percent every year since the financial crisis, even as the incomes of workers have stagnated or fallen.

 


Wall Street rules

 
The Federal Reserve sent a clear message to Wall Street on Friday: It will not allow the longest bull market in American history to end. The message was received loud and clear, and the Dow rose by more than 700 points.
Hundreds of thousands of federal workers remain furloughed or forced to work without pay as the partial government shutdown enters its third week, but the US central bank is making clear that all of the resources of the state are at the disposal of the financial oligarchy.
Responding to Thursday’s market selloff following a dismal report from Apple and signs of a manufacturing slowdown in both China and the US, the Fed declared it was “listening” to the markets and would scrap its plans to raise interest rates.
Speaking at a conference in Atlanta, where he was flanked by his predecessors Ben Bernanke and Janet Yellen, both of whom had worked to reflate the stock market bubble after the 2008 financial crash, Chairman Jerome Powell signaled that the Fed would back off from its two projected rate increases for 2019.
“We’re listening sensitively to the messages markets are sending,” he said, adding that the central bank would be “patient” in imposing further rate increases. To underline the point, he declared, “If we ever came to the conclusion that any aspect of our plans” was causing a problem, “we wouldn’t hesitate to change it.”
This extraordinary pledge to Wall Street followed the 660 point plunge in the Dow Jones Industrial Average on Thursday, capping off the worst two-day start for a new trading year since the collapse of the dot.com bubble.
William McChesney Martin, the Fed chairman from 1951 to 1970, famously said that his job was “to take away the punch bowl just as the party gets going.” Now the task of the Fed chairman is to ply the wealthy revelers with tequila shots as soon as they start to sober up.
Powell’s remarks were particularly striking given that they followed the release Friday of the most upbeat jobs report in over a year, with figures, including the highest year-on-year wage growth since the 2008 crisis, universally lauded as “stellar.”
While US financial markets have endured the worst December since the Great Depression, amid mounting fears of a looming recession and a new financial crisis, analysts have been quick to point out that there are no “hard” signs of a recession in the United States.
Both the Dow and the S&P 500 indexes have fallen more than 15 percent from their recent highs, while the tech-heavy NASDAQ has entered bear market territory, usually defined as a drop of 20 percent from recent highs.
The markets, Powell admitted, are “well ahead of the data.” But it is the markets, not the “data,” that Powell is listening to.
Since World War II, bear markets have occurred, on average, every five-and-a-half years. But if the present trend continues, the Dow will reach 10 years without a bear market in March, despite the recent losses.
Now the Fed has stepped in effectively to pledge that it will allocate whatever resources are needed to ensure that no substantial market correction takes place. But this means only that when the correction does come, as it inevitably 
must, it will be all the more severe and the Fed will have all the less power to stop it.
From the standpoint of the history of the institution, the Fed’s current more or less explicit role as backstop for the stock market is a relatively new development. Founded in 1913, the Federal Reserve legally has had the “dual mandate” of ensuring both maximum employment and price stability since the late 1970s. Fed officials have traditionally denied being influenced in policy decisions by a desire to drive up the stock market.
Federal Reserve Chairman Paul Volcker, appointed by Democratic President Jimmy Carter in 1979, deliberately engineered an economic recession by driving the benchmark federal funds interest rate above 20 percent. His highly conscious aim, in the name of combating inflation, was to quash a wages movement of US workers by triggering plant closures and driving up unemployment.
The actions of the Fed under Volcker set the stage for a vast upward redistribution of wealth, facilitated on one hand by the trade unions’ suppression of the class struggle and on the other by a relentless and dizzying rise on the stock market.
Volcker’s recession, together with the Reagan administration’s crushing of the 1981 PATCO air traffic controllers’ strike, ushered in decades of mass layoffs, deindustrialization and wage and benefit concessions, leading labor’s share of total national income to fall year after year.
These were also decades of financial deregulation, leading to the savings and loan crisis of the late 1980s, the dot.com bubble of 1999-2000, and, worst of all, the 2008 financial crisis.
In each of these crises, the Federal Reserve carried out what became known as the “Greenspan put,” (later the “Bernanke put”)—an implicit guarantee to backstop the financial markets, prompting investors to take ever greater risks.
In 2008, this resulted in the most sweeping and systemic financial crisis since the Great Depression, prompting Fed Chairman Bernanke, New York Fed President Tim Geithner and Treasury Secretary Henry Paulson (the former CEO of Goldman Sachs) to orchestrate the largest bank bailout in human history.
Since that time, the Federal Reserve has carried out its most accommodative monetary policy ever, keeping interest rates at or near zero percent for six years. It supplemented this boondoggle for the financial elite with its multi-trillion-dollar “quantitative easing” money-printing program.
The effect can be seen in the ever more staggering wealth of the financial oligarchy, which has consistently enjoyed investment returns of between 10 and 20 percent every year since the financial crisis, even as the incomes of workers have stagnated or fallen.
American capitalist society is hooked on the toxic growth of social inequality created by the stock market bubble. This, in turn, fosters the political framework not just for the decadent lifestyles of the financial oligarchs, each of whom owns, on average, a half-dozen mansions around the world, a private jet and a super-yacht, but also for the broader periphery of the affluent upper-middle class, which provides the oligarchs with political legitimacy and support. These elite social layers determine American political life, from which the broad mass of working people is effectively excluded.
The Federal Reserve is a key mechanism for perpetuating this whole filthy system, in which “Wall Street rules.” But its services in behalf of the rich and the super-rich only compound the fundamental and insoluble contradictions of capitalism, plunging the system into ever deeper debt and ensuring that the next crisis will be that much more violent and explosive.
In this intensifying crisis, the working class must assert its independent interests with the same determination and ruthlessness as evinced by the ruling class. It must answer the bourgeoisie’s social counterrevolution with the program of socialist revolution.

 

 

 

the depression is already here for most of us below the super-rich!


Trump and the GOP created a fake economic boom on our collective credit card: The equivalent of maxing out your credit cards and saying look how good I'm doing right now.

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Trump criticized Dimon in 2013 for supposedly contributing to the country’s economic downturn. “I’m not Jamie Dimon, who pays $13 billion to settle a case and then pays $11 billion to settle a case and who I think is the worst banker in the United States,” he told reporters.
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"One of the premier institutions of big business, JP Morgan Chase, issued an internal report on the eve of the 10th anniversary of the 2008 crash, which warned that another “great liquidity crisis” was possible, and that a government bailout on the scale of that effected by Bush and Obama will produce social unrest, “in light of the potential impact of central bank actions in driving inequality between asset owners and labor."  
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"Overall, the reaction to the decision points to the underlying fragility of financial markets, which have become a house of cards as a result of the massive inflows of money from the Fed and other central banks, and are now extremely susceptible to even a small tightening in financial conditions."

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"It is significant that what the Financial Times described as a “tsunami of money”—estimated to reach $1 trillion for the year—has failed to prevent what could be the worst year for stock markets since the global financial crisis."
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"A decade ago, as the financial crisis raged, America’s banks were in ruins. Lehman Brothers, the storied 158-year-old investment house, collapsed into bankruptcy in mid-September 2008. Six months earlier, Bear Stearns, its competitor, had required a government-engineered rescue to avert the same outcome. By October, two of the nation’s largest commercial banks, Citigroup and Bank of America, needed their own government-tailored bailouts to escape failure. Smaller but still-sizable banks, such as Washington Mutual and IndyMac, died."
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The GOP said the "Tax Cuts and Jobs Act" would reduce deficits and supercharge the economy (and stocks and wages). The White House says things are working as planned, but one year on--the numbers mostly suggest otherwise. 




6 April 2009
A series of articles published over the weekend, based on financial disclosure reports released by the Obama administration last Friday concerning top White House officials, documents the extent to which the administration, in both its personnel and policies, is a political instrument of Wall Street.
Policies that are extraordinarily favorable to the financial elite that were put in place over the past month by the Obama administration have fed a surge in share values on Wall Street. These include the scheme to use hundreds of billions of dollars in public funds to pay hedge funds to buy up the banks’ toxic assets at inflated prices, the Auto Task Force’s rejection of the recovery plans of Chrysler and General Motors and its demand for even more brutal layoffs, wage cuts and attacks on workers’ health benefits and pensions, and the decision by the Financial Accounting Standards Board (FASB) to weaken “mark-to-market” accounting rules and permit banks to inflate the value of their toxic assets.
At the same time, Obama has campaigned against restrictions on bonuses paid to executives at insurance giant American International Group (AIG) and other bailed-out firms, and repeatedly assured Wall Street that he will slash social spending, including Medicare, Medicaid and Social Security.
The new financial disclosures reveal that top Obama advisors directly involved in setting these policies have received millions from Wall Street firms, including those that have received huge taxpayer bailouts.
The case of Lawrence Summers, director of the National Economic Council and Obama’s top economic adviser, highlights the politically incestuous character of relations between the Obama administration and the American financial elite.
Last year, Summers pocketed $5 million as a managing director of D.E. Shaw, one of the biggest hedge funds in the world, and another $2.7 million for speeches delivered to Wall Street firms that have received government bailout money. This includes $45,000 from Citigroup and $67,500 each from JPMorgan Chase and the now-liquidated Lehman Brothers.
For a speech to Goldman Sachs executives, Summers walked away with $135,000. This is substantially more than double the earnings for an entire year of high-seniority auto workers, who have been pilloried by the Obama administration and the media for their supposedly exorbitant and “unsustainable” wages.
Alluding diplomatically to the flagrant conflict of interest revealed by these disclosures, the New York Times noted on Saturday: “Mr. Summers, the director of the National Economic Council, wields important influence over Mr. Obama’s policy decisions for the troubled financial industry, including firms from which he recently received payments.”
Summers was a leading advocate of banking deregulation. As treasury secretary in the second Clinton administration, he oversaw the lifting of basic financial regulations dating from the 1930s. The Times article notes that among his current responsibilities is deciding “whether—and how—to tighten regulation of hedge funds.”
Summers is not an exception. He is rather typical of the Wall Street insiders who comprise a cabinet and White House team that is filled with multi-millionaires, presided over by a president who parlayed his own political career into a multi-million-dollar fortune.
Michael Froman, deputy national security adviser for international economic affairs, worked for Citigroup and received more than $7.4 million from the bank from January of 2008 until he entered the Obama administration this year. This included a $2.25 million year-end bonus handed him this past January, within weeks of his joining the Obama administration.
Citigroup has thus far been the beneficiary of $45 billion in cash and over $300 billion in government guarantees of its bad debts.
David Axelrod, the Obama campaign’s top strategist and now senior adviser to the president, was paid $1.55 million last year from two consulting firms he controls. He has agreed to buyouts that will garner him another $3 million over the next five years. His disclosure claims personal assets of between $7 and $10 million.
Obama’s deputy national security adviser, Thomas E. Donilon, was paid $3.9 million by a Washington law firm whose major clients include Citigroup, Goldman Sachs and the private equity firm Apollo Management.
Louis Caldera, director of the White House Military Office, made $227,155 last year from IndyMac Bancorp, the California bank that heavily promoted subprime mortgages. It collapsed last summer and was placed under federal receivership.
The presence of multi-millionaire Wall Street insiders extends to second- and third-tier positions in the Obama administration as well. David Stevens, who has been tapped by Obama to head the Federal Housing Administration, is the president and chief operating officer of Long and Foster Cos., a real estate brokerage firm. From 1999 to 2005, Stevens served as a top executive for Freddie Mac, the federally-backed mortgage lending giant that was bailed out and seized by federal regulators in September.
Neal Wolin, Obama’s selection for deputy counsel to the president for economic policy, is a top executive at the insurance giant Hartford Financial Services, where his salary was $4.5 million.
Obama’s Auto Task Force has as its top advisers two investment bankers with a long resume in corporate downsizing and asset-stripping.
It is not new for leading figures from finance to be named to high posts in a US administration. However, there has traditionally been an effort to demonstrate a degree of independence from Wall Street in the selection of cabinet officials and high-ranking presidential aides, often through the appointment of figures from academia or the public sector. In previous decades, moreover, representatives of the corporate elite were more likely to come from industry than from finance.
In the Obama administration such considerations have largely been abandoned.
This will not come as a surprise to those who critically followed Obama’s election campaign. While he postured before the electorate as a critic of the war in Iraq and a quasi-populist force for “change,” he was from the first heavily dependent on the financial and political backing of powerful financiers in Chicago. Banks, hedge funds and other financial firms lavishly backed his presidential bid, giving him considerably more than they gave to his Republican opponent, Senator John McCain.
Friday’s financial disclosures further expose the bankruptcy of American democracy. Elections have no real effect on government policy, which is determined by the interests of the financial aristocracy that dominates both political parties. The working class can fight for its own interests—for jobs, decent living standards, health care, education, housing and an end to war.


“Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).”

OBAMA and HIS BANKS: THEIR PROFITS, CRIMES and LOOTING SOAR


CRONY KING OBAMA: CURL: The Obamas live the 1% life

OBAMAnomics:
FROM THE MAN THAT HATED AMERICAN BUT LOVED AMERICAN BANKSTERS:



OBAMA, THE BANKSTER OWNED LA RAZA DEM

THE GLOBALIST LEGACY OF A SOCIOPATH
Obama warns against “cynicism” at Ohio State commencement address
7 May 2013
At a commencement address on Sunday at Ohio State University, President Barack Obama counseled students not to be “cynical” about government and politics.
There was an almost comically absurd element to Obama’s remarks, delivered with his characteristic demagogy and attempted gestures at profundity. In his first four years in office, along with the first months of his second term, Obama proceeded to systematically repudiate every campaign pledge and to deflate every illusion that, with the assistance of a highly coordinated marketing campaign, led millions of people, including a large number of young people, to vote for him in 2008.
The Obama administration handed trillions of dollars to the banks; has overseen a massive attack on public education; is leading the campaign to slash Social Security and Medicare, the core federal retirement and health care programs; expanded the war in Afghanistan, led a war against Libya, and is preparing a new war in Syria; and has asserted the right to kill anyone, anywhere, including US citizens, without due process.
After this record of service to the corporate elite, he declares: “When we turn away and get discouraged and cynical… we grant our silent consent to someone who will gladly claim it. That’s how we end up with lobbyists who set the agenda; and policies detached from what middle class families face every day; the well-connected who publicly demand that Washington stay out of their business—and then whisper in government’s ear for special treatment that you don’t get.”
The references to the “whispers” of the wealthy and well-connected is particularly rich, coming only a week after Obama nominated Penny Pritzker for commerce secretary. The selection of Pritzker—a longtime Obama confidant, billionaire heiress and owner of a private equity company—only underscores the fact that the administration is a government of, by and for the financial aristocracy. She will be the wealthiest person ever to serve in a presidential cabinet.
Previous to his appointment of Pritzker, Obama appointed Mary Jo White to head the Securities and Exchange Commission (SEC), one of the main financial regulators. White made millions of dollars as an attorney for banks responsible for the financial crisis, including Bank of America and JPMorgan Chase, whose CEO, Jamie Dimon, called White the “perfect choice” to head the SEC.
Practically every cabinet appointee of Obama’s has close personal connections to the ruling class, many having come directly from corporate boardrooms. Under Obama’s watch not a single executive at a major financial firm has been criminally tried, much less sent to jail, for their role in the financial crisis.
As a whole, Obama’s speech was characterized by a complete separation from the actual conditions facing the graduates he spoke to, who confront joblessness, falling wages, and a lifetime in debt. “You have every reason to believe that your future is bright,” he told his audience. “You’re graduating into an economy and a job market that is steadily healing.”
He added later, “The trajectory of this great nation should give you hope.” Really? This is under conditions in which over 11 percent of college graduates are unemployed a year after getting out of school, and another 16.1 percent simply drop out of the labor force, according to the Bureau of Labor Statistics. Most of those who do find a job are paid barely enough to get by, let alone pay off student loans. Wages for young adults are falling faster than any other part of the population, and are down by 6 percent in the past four years.
Most of the students that Obama addressed Sunday will be so burdened with debt that they will delay or have to completely put off starting a family or buying a home.
It is not surprising that Obama should neglect to dwell on this disastrous situation, because his administration bears responsibility for it. In the government-sponsored restructuring of the auto industry, the White House insisted that the wages of new-hires be slashed in half, setting the stage for vast reduction of wages throughout the economy.
Obama sought to paint opposition to the government’s violation of democratic rights as right-wing hysterics. “Unfortunately, you’ve grown up hearing voices that incessantly warn of government as nothing more than some separate, sinister entity,” Obama said. “They’ll warn that tyranny is always lurking just around the corner. You should reject these voices.”
This comes from a president who has personally overseen the illegal assassination of thousands of people, including at least three American citizens, in weekly “Terror Tuesday” meetings. The assertions of executive power have been systematically expanded, going beyond those claimed even by the Bush administration. The specter of a police state—the response of the ruling class to growing social opposition—is in fact lurking around the corner.
The moribund state of American politics, of which the Obama administration is a principal expression, is, according to the president, the fault of the American people. “Democracy doesn’t function without your active participation,” he admonished. If politicians “don’t represent you the way you want… you’ve got to let them know that’s not okay. And if they let you down, there’s a built-in day in November where you can really let them know that’s not okay.”
Such limp efforts to encourage illusions in the viability of the “democratic process” in the United States will not go very far. The experience of the past four years has not passed in vain. Millions of people, including many of those in the audience at Ohio State, are drawing the quite justified, if “cynical,” conclusion that the entire political and economic system is rotten to the core.
Mounting evidence of international collusion in Libor rigging - THE RAPE OF THE ECONOMY BY THE BANKSTERS

Mounting evidence of international collusion in Libor rigging

OBAMA'S AND HIS CRIMINAL BANKSTER DONORS AT WORK:


JPMorgan’s investment arm, which includes its energy group, collects $14 billion annually; in comparison, six months’ worth of fines would amount to a paltry $180 million.

THERE IS A REASON WHY THE BANKSTERS INVESTED HEAVILY IN OBAMA’S CORRUPT ADMINISTRATION!

Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).

Obama: JPMorgan Is 'One of the Best-Managed Banks'

By Mary Bruce | ABC OTUS News – 2 hrs 31 mins ago

Obama: JPMorgan Is 'One of the …

Lou Rocco / ABC News

Just hours after a top JPMorgan Chase executive retired in the wake of a stunning $2 billion trading loss, President Obamatold the hosts of ABC's "The View" that the bank's risky bets exemplified the need for Wall Street reform.

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JPMorgan Chase investigated for manipulating California energy market

By Oliver Richards
23 July 2012

The California Independent Systems Operator (CalISO), the nonprofit organization that coordinates the state’s electricity market, has alleged that JPMorgan Chase& Co. manipulated the state’s energy market, resulting in at least $73 million in improper payments—costs passed along to the state’s energy consumers.

OBAMA’S CRONY BANKSTERS:
STILL SUCKING THE BLOOD OUT OF AMERICA
This manufactured crisis has, in turn, been exploited by the Obama administration and both big business parties to hand over trillions in pension funds and other public assets to the financial kleptocracy that rules America.
 “Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes.  This is the way a great country is raided by its elite.” ---- Karen McQuillan  THEAMERICAN THINKER.com

“This was not because of difficulties in securing indictments or convictions. On the contrary, Attorney General Eric Holder told a Senate committee in March of 2013 that the Obama administration chose not to prosecute the big banks or their CEOs because to do so might “have a negative impact on the national economy.”



OBAMANOMICS TO SERVE BANKSTERS 

AND GLOBAL BILLIONAIRES



"One of the premier institutions of big business, JP Morgan Chase, issued an internal report on the eve of the 10th anniversary of the 2008 crash, which warned that another “great liquidity crisis” was possible, and that a government bailout on the scale of that effected by Bush and Obama will produce social unrest, “in light of the potential impact of central bank actions in driving inequality between asset owners and labor."  
BILLIONAIRES, BANKSTERS AND THE RICH PARTNER WITH TRUMP TO FIGHT … economic equality.


"JPMorgan Chase CEO Jamie Dimon, who was known as Barack Obama’s favorite banker and who has been a major donor to
the Democratic Party, centered his annual letter to shareholders on a denunciation of socialism."

BANKSTER SOCIALISM

Dimon’s bank received tens of billions of dollars in government bailouts and many billions more from the Obama administration’s ultra-low interest rate and “quantitative easing” money-printing policies.  He told his shareholders that “socialism inevitably produces stagnation, corruption” and “authoritarian government,” and would be “a disaster for our country.”… UNLESS IT IS SOCIALISM FOR BANKSTERS AND WALL STREET!

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"This paved the way for the elevation of Trump, the personification of the criminality and backwardness of the ruling oligarchy."
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"The very fact that the US government officially acknowledges a growth of popular support for socialism, particularly among the nation’s youth, testifies to vast changes taking place in the political consciousness of the working class and the terror this is striking within the ruling elite. America is, after all, a country where anti-communism was for the greater part of a century a state-sponsored secular religion. No ruling class has so ruthlessly sought to exclude socialist politics from political discourse as the American ruling class."
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Socialism haunts the American ruling class In the two months since Donald Trump vowed in his State of the Union Address that “America will never be a socialist country,” the right-wing demagogue president and the Republican Party have embraced anti-socialism as the defining theme of their campaign in the 2020 elections.


Wall Street Warms Up to Elizabeth Warren: ‘She’s the Smartest,’ ‘Most Policy-Oriented’ Democrat

22 Jul 201968
4:14

Wall Street is warming up to the idea of Sen. Elizabeth Warren (D-MA) being the Democrat nominee for president against President Donald Trump in the 2020 election, interviews with executives and bankers reveal.

Politico report details how Wall Street insiders are becoming comfortable with Warren as the potential nominee to go up against Trump and his “America First” agenda:
I think she is going to get the nomination because she’s the smartest, she’s charismatic and she’s the most policy-oriented,” said one former top executive at a large Wall Street bank who, like several interviewed for this story, declined to be quoted on record saying anything nice about Warren. “Wall Street is very good at accommodating itself to reality and if the reality is the party is going to be super-progressive, they may not like Warren but she’s a better form of poison than Bernie.” [Emphasis added]
“If she were the nominee, there will certainly be people who will say that Donald Trump represents everything that I’m against,” said Orin Kramer, a hedge fund manager who is raising money for Buttigieg. “And they will find stuff that they like about her and will vote for her.” [Emphasis added]


BLOG: THE DEMOCRAT PARTY OF CRONY CAPITALISM IS THE PARTY OF BANKSTERS AND BOTTOMLESS BANKSTER BAILOUTS... AND NO PRISON TIME! 
Former adviser to President Obama and investor Robert Wolf told Politico that the financial industry has changed over the last few decades and that Wall Street-types are vastly more aligned with the Democrat establishment than Trump’s GOP.
“I don’t think the stereotypes of the industry serve the same purpose as they used to,” Wolf said. “People who work in corporate America and financial services may have the same views that she does on 95 percent of the issues such as income inequality, student loans, climate change, and others.”
Wall Street and Warren have at least one major policy initiative in common: A full repeal of Trump’s illegal and legal immigration reforms.
This month, Warren released her immigration platform that includes increasing overall legal immigration to the U.S. to provide business with an even greater flow of foreign workers to hire over Americans, as well as a decriminalization of illegal immigration, an amnesty for all illegal aliens in the country, and an end of Trump’s reforms such as his immigration ban from terrorist-sponsored countries and reduction of the refugee resettlement program.
Like Warren, Wall Street executives have railed against Trump’s immigration agenda — demanding that his zero-tolerance policy at the U.S.-Mexico border be ended and opposing his travel ban.
JPMorgan Chase CEO Jamie Dimon has supported amnesty for illegal aliens since at least 2016 when he announced support for the infamous “Gang of Eight” amnesty, saying, “Let them stay and let them build companies.”
Last month, Dimon said amnesty for illegal aliens was necessary to grow the economy, saying, “If we do these policies right, America will be growing a lot faster.”
Some of the top multinational banks — JPMorgan Chase, Citigroup, Goldman Sachs, and Morgan Stanley — have come out against Trump’s travel ban that effectively stopped all immigration from a handful of foreign countries that sponsor terrorism.
“This is not a policy we support, and I would note that it has already been challenged in federal court, and some of the order has been enjoined at least temporarily,” former Goldman Sachs CEO Lloyd Blankfein wrote in a letter at the time. “Let me close by quoting from our business principles: ‘For us to be successful, our men and women must reflect the diversity of the communities and cultures in which we operate … Being diverse is not optional; it is what we must be.'”
Meanwhile, Citigroup has promoted mass immigration as a necessary component to growing the American economy in terms of increasing GDP. A report released by executives last year championed migration into the U.S., the United Kingdom, and Germany.
For decades, the big business lobby, Wall Street, and donor class have said mass immigration is crucial to growing GDP in the U.S. though research has shown that increasing legal immigration levels to an enormous ten million admissions a year would only grow GDP by about 2.5 percent. Meanwhile, Trump’s low-migration, high-wage economy has translated to 3.2 percent annual economic growth.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder