10 reasons why Wall Street has absolute power over America’s democracy
I’ve never watched ’24’ as the real world has more than enough ‘danger’ for me to be aware of and follow. And it seemed to me -via articles/reviews- that it was a program that catered to fear.
We don’t hear much about Usama Bin Laden’s proclamation that al-qaeda would would bankrupt America anymore do we?
"Scene 1. American government is now run by the ‘Goldman Conspiracy’
Oh, you really think just I’m plotting a television series? Or just paranoid, exaggerating this power grab? You better read "The Usual Suspects," Matthew Malone’s brilliant article in Portfolio magazine: He "exposed" the "Goldman Sachs ‘conspiracy’ to take over the U.S. financial system." Read it in this context: America’s financial sector has exploded from 19% of corporate profits in 1986 to 41% today, becoming a magnet for every wannabe billionaire. They know why Wall Street must control Washington.
Malone focuses on the incestuous "conspiracy" of Goldman alumni in Treasury, Bank of America, Merrill Lynch, AIG, Citigroup, Washington lobbyists and politicians. "
"Scene 3. Wall Street’s ‘quiet coup’ also runs world’s banking system
There’s another equally disturbing expose in "The Quiet Coup," Simon Johnson’s great article in Atlantic magazine. A former chief economist at the International Monetary Fund, Johnson also warns that America’s "financial industry has effectively captured our government" and is "blocking essential reform."
Worse, he says that unless we break Wall Street’s stranglehold (unlikely in the new Washington) we will be unable "to prevent a true depression," warning that "we’re running out of time," echoing many of our predictions of the "Great Depression II" coming soon."
And that gets me back to David Simon’s statement that "You show me anything that depicts institutional progress in America, school test scores, crime stats, arrest reports, arrest stats, anything that a politician can run on, anything that somebody can get a promotion on. And as soon as you invent that statistical category, 50 people in that institution will be at work trying to figure out a way to make it look as if progress is actually occurring when actually no progress is. And this comes down to Wall Street. I mean, our entire economic structure fell behind the idea that these mortgage-based securities were actually valuable. And they had absolutely no value. They were toxic. And yet, they were being traded and being hurled about, because somebody could make some short-term profit. In the same way that a police commissioner or a deputy commissioner can get promoted, and a major can become a colonel, and an assistant school superintendent can become a school superintendent, if they make it look like the kids are learning, and that they’re solving crime."