Hoenig: “No more welfare for banks”

Thomas Hoenig, FDIC director and former Federal Reserve Bank of Kansas president, explains why he supports a plan to break up the big banks. Here is a direct link.

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4 Responses to Hoenig: “No more welfare for banks”

  1. michael says:

    “HEIST: Who Stole the American Dream? is stunning audiences across the globe, as it exposes the real truth behind the worldwide economic collapse, tracing its origins to a 1971 secret memo entitled Attack on American Free Enterprise System. Written over 40 years ago by the future Supreme Court Justice Lewis Powell, at the behest of the US Chamber of Commerce, the 6-page memo, a free-market utopian treatise, called for a money fueled big business makeover of government through corporate control of the media, academia, the pulpit, arts and sciences and destruction of organized labor and consumer protection groups.

    Sound familiar? Today’s crisis and heart stopping headlines can be directly traced to Powell’s real “end game” which was business control of law and politics. Powell’s fingerprints are all over Citizens United, the fateful Supreme Court decision which gave corporations and the super rich unlimited ability to shape our elections with virtually unrestricted donations. HEIST’s step by step detail exposes the systemic implementation of Powell’s memo by BOTH U.S. political parties over the last forty years culminating in the deregulation of industry, outsourcing of jobs and regressive taxation. All of which led us to the global financial crisis of 2008 and the continued dismantling of the American middle class.

    Today, politics is the playground of the rich and powerful, with no thought given to the hopes and dreams of ordinary Americans. No other film goes as deeply as HEIST in explaining the greatest heist of our time. Moving beyond the white noise of today’s polarizing media, HEIST provides viewers with a clear, concise and fact-based explanation of how we got into this mess, and what we need to do to restore our representative democracy.”


  2. Attila Balazs says:

    Re: Heist

    ECRI: What Ails Jobs Growth Happened A Long Time Ago

    Although four million net new jobs have been added during the U.S. employment revival, there is near-universal disappointment in the labor market because more than twice as many jobs were lost during the downturn. Moreover, ongoing jobs weakness is in direct contrast to the “V-shaped” recovery from the Great Recession that many expected.
    ECRI’s analysis of the patterns of job losses and gains in recessions and recoveries over nearly a century reveals that, contrary to popular belief, the weakness of the current jobs recovery does not stem primarily from recent policy failures or the financial crisis. Rather, our long-term historical perspective reveals massive shifts in the patterns of cyclical revival occurring nearly a quarter-century ago. The implications for the years ahead, in terms of the shape of the business cycle, are likely to be profound, as policymakers struggle to grapple with the dimensions of a problem that they do not yet understand.

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