William Black, who writes at New Economic Perspectives, and was the key financial fraud investigator and prosecutor under Ronald Reagan, was asked to come to #OccupyWallStreet recently by Dave DeGraw of AmpedStatus.com. during their joint appearance on Dylan Ratigan’s program on October 17. (I stuck the MSNBC video link up then, although it took a couple days for the video to make it onto youtube, odd.). Black you will remember, helped to send over a thousand bankster criminals to jail over the S&L criminal scandal; he also coined the term ‘control fraud’.
This week he posted a notice asking for help from those who might want to print and pass out informative posters about Banking Fraud, and links to a flier that can be tweaked for use in different cities.
People need to hear the truth about the financial crimes at the core of the meltdown and recession/depression abetted by our fascist government allied with Wall Street. They need to understand that our government is continuing to hijack our economic futures, safety, access to health care and education.
Black has written it not as a position paper for #OWS demands, but the demands of contributors at NEP.
This is both low and high-tech, and fits with my desires for a greater educational ground-game. Shoot; hand them out at grocery stores, unemployment offices, in front of big banks…get creative, and above all: take a friend with you, and some fun with it! Tweet them, get them out there! The language is simple, instructive and loaded with colorful, empowering language. This Scribd page includes an introduction to it.
Memo To: OWS From: The Bloggers at NEP Ref: http://neweconomicperspectives.blogspot.com
Re: Economics for the 99%
“The 99% have been thrown to the wolves! The Criminal and reckless behavior of Wall Street banksters brought the financial system to the brink of collapse robbing millions of their homes, their savings, and their jobs. And no Wall Street criminals are going to prison! The failure to prosecute is scandalous. The crisis was driven by elite fraud. If agencies like the Federal Reserve and the SEC had done their jobs, things never would have gotten this bad. Unfortunately for the 99%our government has been co-opted by the corporate elite and no longer works for us.
Who Are We? We’re a weird collection of economists, bank regulators, white-collar criminologists, professional traders and others. What we know is that the system is broken and needs to be fixed. We demand that the government stop funneling money to banksters. Our government must use its money-creating power to strengthen the safety net, help underwater homeowners, protect the environment and create jobs for the unemployed. We work to:
STOP THE FORECLOSURES JAIL THE BANKSTERS REGULATE THE BANKS
GUARANTEE JOBS FOR ALL REDUCE INCOME INEQUALITY
And Matt Taiibbi’s new piece is up: Wall Street Isn’t Winning, It’s Cheating:
“…Or the banks borrow billions at zero and lend mortgages to us at four percent, or credit cards at twenty or twenty-five percent. This is essentially an official government license to be rich, handed out at the expense of prudent ordinary citizens, who now no longer receive much interest on their CDs or other saved income. It is virtually impossible to not make money in banking when you have unlimited access to free money, especially when the government keeps buying its own cash back from you at market rates.
Your average chimpanzee couldn’t fuck up that business plan, which makes it all the more incredible that most of the too-big-to-fail banks are nonetheless still functionally insolvent, and dependent upon bailouts and phony accounting to stay above water. Where do the protesters go to sign up for their interest-free billion-dollar loans?”
(cross-posted at www.kgblogz.com)