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The Kings Speak: Blankfein and Dimon Preach Austerity



The banksters have launched a new offensive in their never ending quest to get the rest of society to pay for the crisis they created and capitulate to a life of debt slavery.

It began with JP Morgan Chase CEO Jamie Dimon participating in a one on one interview appropriately located at Neoliberal dream factory the Council On Foreign Relations in D.C.

Dimon claimed he did the Federal Reserve a favor by taking over Bear Stearns (at $2 a share) and that JP Morgan was expanding its business operations, including a recent move into Africa highlighting JP Morgan’s relationship with the energy industry (what could go wrong?). FYI, that means we now have a stronger “American Interest” there so defense cuts will have to wait.

The next day Goldman Sachs CEO Lloyd Blankfein appeared with Erskine Bowles and Alan Simpson – namesakes of the commission whose recommendation was to cut taxes for the rich yet again while forcing austerity on the 99% – to paint President Obama’s positions on the economy as the opposite “extreme” of the Republican position. Therefore of course Blankfein called for “compromise” between those “extremes.”


So the banksters are not content to bribe Congress and throw money at both “extremists” running for President, they also want to set the terms of the debate for whomever wins – austerity for the poor, socialism for Wall Street. And hey, if the Federal Reserve makes you take a company for $2 a share then gives you endless loans while you get TARP from Congress, well somehow you have to find a way to make it through the day.

Guys, you aren’t fooling anyone with your phony patriotism and crocodile tears.

When Occupy called for transparency this wasn’t exactly the goal…

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Dan Wright

Dan Wright

Daniel Wright is a longtime blogger and currently writes for Shadowproof. He lives in New Jersey, by choice.