US bankers cash in despite phony pay restraint

by Patrick Martin, WSWS
The executive pay regulations announced Thursday by the Obama administration’s “pay czar” and the Federal Reserve represent a cynical attempt to placate public outrage over Wall Street bonuses while allowing the financial speculators to continue awarding themselves multi-million-dollar compensation packages.

Renegade Economist US Special with Dr. Michael Hudson

by Scott Creighton
“What they are calling a “post industrial” economy is really a lapse back into a neo-feudal economy and into debt peonage.” (“Peonage is a system where laborers are bound in servitude until their debts are paid in full. Those bound by such a system are known, in the US, as peons.” ) … [...]

Federal Reserve Paying Banks to Freeze Credit

by Scott Creighton
I remember the head of the Dallas Federal Reserve Bank, I think, testifying before congress back in Sept. of last year stating that the treasury department had worked out a deal with the Federal Reserve so that they would tighten the credit markets. In effect worsening the depression we are going through right [...]

International banks exploit the crisis to reap massive profits

(What we are witnessing is a world-wide social counterrevolution led be a few international banks with the intent of the eradication of any “New Deal” type policies and the Keynesian economics philosophy behind them. This will leave 4 or 5 international banking cartels in place to control the economies of every single nation. It would [...]

Decoding Paul Krugman’s Incoherent Op Ed

by Scott Creighton
In his New York Times Op Ed piece, Paul Krugman can’t seem to make any sense of the obstructionist behavior of the so-called “Blue Dog Dems” toward the passage of the Obama healthcare bill.  Though quite frankly I don’t know what’s so hard to understand about it.
What I can’t figure out is why [...]

Spitzer: Federal Reserve is ‘a Ponzi scheme, an inside job’

by Daniel Tencer, Raw Story
The Federal Reserve — the quasi-autonomous body that controls the US’s money supply — is a “Ponzi scheme” that created “bubble after bubble” in the US economy and needs to be held accountable for its actions, says Eliot Spitzer, the former governor and attorney-general of New York.

Barack Obama is a Flat Out Liar: Says Medicare and Medicaid are Causing the Deficit

by Scott Creighton
This evening, President Obama gave yet another one of his infomercial speeches.  This time it was in favor of his healthcare reform measures that have been rightly condemned in the House and the Senate by a few.
Apparently his Chief of Staff, Rahm Emanuel, can’t twist enough arms to get the measure written [...]

The Bankers Own This Country – It’s Just That Simple [BANKER ASSWIPES!!!]

by Scott Creighton
***UPDATE*** Obama appoints ANOTHER Goldman Sachs leech to his administration…
President Barack Obama announced today he was nominating Robert Hormats, a vice chairman of Goldman Sachs International, to a top economic position at the State Department.  Bloomberg
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I’ve said it before, so many times, it’s like I’ve got Turret’s syndrome or something. [FUCKING BANKERS!!!] The [...]

A rising tide of social misery

by David Walsh, WSWS
Contrary to Obama administration and media claims about the recession “easing,” millions of working people in America are losing their jobs, earnings and health care benefits at an accelerating pace.
While executives at Goldman Sachs, JPMorgan Chase and other financial giants prepare to pay themselves billions of dollars this year in salaries and [...]

Ron Paul Wants to Audit the Fed While Team DLC Obama™ Brand Wants to Give the Fed More Power

by Scott Creighton
Tim Geithner, Barack Obama, and Larry Summers are going to announce tomorrow their new plan to increase the powers of the Federal Reserve Bank system in America. The same Federal Reserve PRIVATE Bank system that just fucked us out of TRILLIONS of dollars and the SAME Federal Reserve PRIVATE Bank system that Geither [...]