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[quote:Marxist:MV8xNTc4NDI2XzMyMzUwODU1XzFBNjcyMkI0] [quote:RoXY:MV8xNTc4NDI2XzMyMzQ3NjYyXzUwN0Q4RDc=] [b]Failing to Break Up the Big Banks is Destroying America[/b] by Washington's Blog July 21, 2012 [b]The Size of the Big Banks Is – Literally – Destroying the Rule of Law[/b] Pulitzer prize-winning journalist Ron Suskind quotes Treasury Secretary Timothy Geithner as saying: The confidence in the system is so fragile still… a disclosure of a fraud… could result in a run, just like Lehman. In other words, Geithner said that the big bankers are “too big to jail”, because disclosing any portion of their massive fraud would cause bank runs. Former IMF economist Simon Johnson notes: The main motivation behind the administration’s indulgence of serious criminality evidently is fear of the consequences of taking tough action on individual bankers. The message to bank executives today is simple: build your bank to be as big as possible – and then keep growing. If you manage to become big enough, you and your employees are not just too big to fail, but also too big to jail. [b]CONTINUE: http://globalresearch.ca/index.php?context=va&aid=32006[/b] [/quote] Consolidation of surplus value is a function of the system, whether it be a bank, a company selling wholefoods, one dealing in baby products or a supermarket chain. Banks tend to be the conduit through which trust flows (trust an essential where exchange is involved...strange, yet a noble selfless value such as this underpins all the bloodletting in the quest for supremacy.) The upshot of this is that this conduit cannot be allowed to become clogged with such things as fear and panic or the systemic consequences, from your local supermarket to the high street lingerie shop, would be catastrophic. Consequently. it is rather simplistic to see this as some sort of advantage to the banks although the net effect will advantage the managerial within banks. In conclusion, the momentum of capital is the primary concern, any effects on those who manage capital's counduit, the banks, is incidental. [/quote]
Economic Armageddon and You
Wondering about the American economy? This animated video explains inflation, stagflation, recession and more, all in 5 minutes.
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