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Please support NAKED CAPITALISM! Along with a special message from Neil Barofsky!

niel-barofskyRegular readers may recall we suspended our 2012 fundraiser, which started right before Hurricane Sandy. We want to express our deep appreciation to those of you who have donated thus far.
Many of the things we talked about when we launched our first fundraiser last year are still true: the elites, who have shown little regard for how their misrule has hurt ordinary citizens, still have a firm grasp on the reins of power. The global financial crisis imposed tremendous costs on investors and society at large, via unemployment, a housing bust, plunging tax revenues, cuts in government services and increasing political discord. No one in a position of influence before the crisis has been punished or even suffered much. In fact, as Matt Stoller has pointed out, the rich became even richer, with 93% of the gains in income under Obama going to the top 1%.
So it isn’t surprising that what passes for leadership in the US is gearing up to provide us with more of the same, since it has worked out so well for them. Obama, after winning a supposedly populist mandate, is moving smartly towards executing what Bill Black has aptly called a Grand Betrayal. Obama intends to weaken critical safety nets for the aged, Social Security and Medicare, despite the fact that the public overwhelmingly wants them preserved. Even worse, well respected analysts, including budget experts at the Federal Reserve, dispute the forecasts used to rationalize this attack on the middle class. But billionaire Pete Peterson and his allies on Wall Street, who have long sought to gut these programs so as to force people to put more of their savings into securities markets, continue their plutocratic land grab.

NAKED CAPITALISM
And from Naked Capitalism, a post from Neil Barofsky
 
 

3 Comments

  • Mike Hansen says:

    How the mighty have fallen in the last 50 years. In 1962 the
    dollar was backed by gold, the coins were 90% silver and Americans
    were largely debt free. Then the 1963 “Coup d”etat” occurred and
    in 1965 they devalued the coinage 50% to pay for the Vietnam WAr.
    In 1968, they ended redeemability of US Notes and Silver Certificates. They also removed the “will pay to the bearer on demand” from Federal Reserve Notes. In 1971, gold backing of the
    dollar ended and the Ponzi scheme began.
    First they stold our silver coinage, then our Gold using fiat
    money at low interest for the “insiders”.
    Then they loaned the stolen gold and silver back to US at high
    interest, so they could mortgage the land and then steal that too
    through a “loan to own” scheme. The mathematics of compound interest
    proves these loans could never be paid back and were never meant
    to be paid back. They robbed the pension funds and now they steal
    the land as icing on the cake.
    The American people are being reduced to serfdom on the Continent
    their forefathers conquered. I hope America wakes up soon.

  • Jen says:

    I wish to know what the outcome of the oral arguments were for the Hassell case on November 13th… Where o where is a transcript or audio??? Specifically wondering if the Danielle Sterling bogus endorsement was brought up…

  • neidermeyer says:

    Surprised you printed this , Barofsky is speaking the truth.

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