Nothing has been fixed.
The bad debt is still there.
Unemployment has skyrocketed, the banks have cranked up credit card interest rates to 29.9% and are feasting on zero interest Federal Reserve money which they use to speculate in the financial markets, paying out well over $100 billion in aggregate in bonuses for the last year.
We are told this is and was "necessary."
I might accept that - if it came with the closing of all of these institutions. Each and every one of them. If it came with the permanent barring of every executive involved from ever serving as so much as a janitor in any financial institution - worldwide - ever again. If it came with a full forensic audit of each and every one of these institutions and officials by the FBI, with every instance of fraud that was uncovered presented to a grand jury.
But it has not.
Instead, firms like Countrywide Financial and Washington Mutual were absorbed into Bank of America and JP Morgan/Chase. Those who were "too big to fail" not only were not dismantled, they were made bigger and more powerful.
Wall Street may effectively own Washington DC and the politicians but they do not own us.
WE THE PEOPLE ARE UNDER NO OBLIGATION TO ACCEPT THIS.
WE HAVE RIGHTS.
WE THE PEOPLE have the freedom to associate - or not.
WE THE PEOPLE have the right to demand legal tender in payment of debts owed us.
WE THE PEOPLE have the right to demand that these institutions eat their own cooking on each and every one of the loans they securitized and peddled during these years without fair and full disclosure to the buyers that these loans were rife with fraud.
WE THE PEOPLE have the right - and the ability - to take personal, lawful action with specific, lawful political and business-oriented goals, including permanent structural changes that will end "too big to fail" and "rip off the consumer on demand" policies, including the full reinstatement of Glass-Steagall which will END financial speculation and dealing in all of its forms by firms that have access to Federal Reserve credit and/or any sort of public backstop.
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