Half of foreclosures attributable to health care costs - page 2
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Frightening statistic. One medical crisis can put your family on the street.... Read More
- 0Aug 9, '09 by K98Quote from WorkinTheStreetsIf it isn't CNN, NBC, Daily Kos, or Huffington Post, HM2 never heard of it..Ok, but according to the Center for Research on Globalization article entitled "Who are the Architects of Economic Collapse?" http://www.globalresearch.ca/index.p...t=va&aid=10860 :
"Is Obama committed to "taming Wall Street" and "disarming financial markets"?
Ironically, it was under the Clinton administration that these policies of "greed and irresponsibility" were adopted. The 1999 Financial Services Modernization Act (FSMA) was conducive to the the repeal of the Glass-Steagall Act of 1933. A pillar of President Roosevelt’s "New Deal", the Glass-Steagall Act was put in place in response to the climate of corruption, financial manipulation and "insider trading" which resulted in more than 5,000 bank failures in the years following the 1929 Wall Street crash.
Under the 1999 Financial Services Modernization Act, effective control over the entire US financial services industry (including insurance companies, pension funds, securities companies, etc.) had been transferred to a handful of financial conglomerates and their associated hedge funds.
The Engineers of Financial Disaster
Who are the architects of this debacle?Lawrence Summers played a key role in lobbying Congress for the repeal of the Glass Steagall Act. His timely appointment by President Clinton in 1999 as Treasury Secretary spearheaded the adoption of the Financial Services Modernization Act in November 1999. Upon completing his mandate at the helm of the US Treasury, he became president of Harvard University (2001- 2006).This was information was taken from a non-US website.
Paul Volker was chairman of the Federal Reserve Board in the l980s during the Reagan era. He played a central role in implementing the first stage of financial deregulation, which was conducive to mass bankruptcies, mergers and acquisitions, leading up to the 1987 financial crisis.
Timothy Geithner is CEO of the Federal Reserve Bank of New York, which is the most powerful private financial institution in America. He was also a former Clinton administration Treasury official. He has worked for Kissinger Associates and has also held a senior position at the IMF. The FRBNY plays a behind the scenes role in shaping financial policy. Geithner acts on behalf of powerful financiers, who are behind the FRBNY. He is also a member of the Council on Foreign Relations (CFR)
Jon Corzine is currently governor of New Jersey, former CEO of Goldman Sachs."
- 0Aug 15, '09 by HM2VikingRNthe nation magazine has aggressively condemned all of these characters...
summers, geithner, corzine, volker, fischer, phil gramm, bernanke, hank paulson, rubin, not to mention alan greenspan, al al. are buddies; they play golf together; they have links to the council on foreign relations and the bilderberg; they act concurrently in accordance with the interests of wall street; they meet behind closed doors; they are on the same wave length; they are democrats and republicans.
while they may disagree on some issues, they are firmly committed to the washington-wall street consensus. they are utterly ruthless in their management of economic and financial processes. their actions are profit driven. outside of their narrow interest in the "efficiency" of "markets", they have little concern for "living human beings". how are people's lives affected by the deadly gamut of macro-economic and financial reforms, which is spearheading entire sectors of economic activity into bankruptcy.