Few Americans realize that the US Federal Reserve Bank has just piled $6 trillion in assets on its ledger. What happens when those assets turn to losses? Remember 2008 subprime mortgage crash? In short: the banking profits are privatized, while their losses are socialized (the people will pay in the end).
-by Skip KaltenheuserBanks, including on Wall Street, fear no one like they fear Bernie. I’m sure they’re not keen on Elizabeth Warren, but Bernie strikes a unique terror, because banks know anyone taking them on will have to wield the bully pulpit against them like FDR did. Bernie can do that.
Jamie Dimon is the CEO and chairman of JPMorgan Chase, America’s biggest bank. His net worth is over a billion dollars. Th U.S. Treasury gave JPMorgan $25 billion in taxpayer money to keep the bak afloat in 2008 after Dimon had gambled in speculative mortgages. Many in the Obama administration urged him to appoint Dimon Treasury Secretary but he picked Timothy Geithner instead.
Bloomberg would have us believe that the banksters are quaking in their boots over the possibility that Chinese-style payment apps and a truly cashless economy will be making its way to the West in the near future. But is this the banksters' nightmare or their ultimate dream come true? Find out in this week's edition of #PropagandaWatch.
Many Americans are unaware of just how important an event in world history the French Revolution was. Before we talk about what Ryan Grim termed a counterrevolution for an The Intercept piece about reactionary Blue Dog and DINO Josh Gottheimer, let's remember, for a little context, that the French Revolution, gave hope to all Europe other than to the nobles, ecclesiastics, and some bourgeois (the 1%).
A headline by Julie Bykowicz and Ken Thomas in this morning's Wall Street Journal-- Joe Biden’s Expected 2020 Bid Is Likely to Rely on Big Donors-- makes it perfectly clear which lane Biden is going for in the 2020 nomination battle: the status quo, conservati
The Trump Regime has been working to rig the campaign finance rules in preparation for his reelection efforts; more on that below. It has also ordered the gutting of the task forces protecting elections from foreign meddling.
How important are tax cuts to the very wealthy? Very, very, according to the Center for Public Integrity.
Yesterday, Dave Weigel tweeted "One fallacy you’ll never see me fall for is that an election between Trump and 'someone on the left like Warren' would leave a huge path in the middle. If you’re saying that, find me the polls and point to the unpopular idea the left is running on.
