YouTube Description:
Via The Raw Story: "In its annual report for 2011, issued on Wednesday, the Federal Reserve Bank of Dallas released a startling report revealing that 52 percent of all the assets held by the entire banking industry have now become aggregated into the hands of just five companies, and the top 10 institutions have swollen so large that they possess wealth that equates to roughly half of America's annual gross domestic product (GDP). It is for those reasons that Dallas Fed president Richard Fisher, who's otherwise known as a conservative budget hawk, has embraced the radical cause of breaking up the nation's largest banks and forever ending "too big to fail"...". The Young Turks host Cenk Uygur breaks it down.
http://www.rawstory.com/rs/2012/03/21/dallas-fed-top-five-u-s-banks-hold-over-half-of-industrys-assets/..
6 Comments
TheDreamingDragonAh,yet another video of What the Problem is,and What Needs to Be Done to Fix It.
In a system so broken,in a game so rigged,how does one Force the Powers Bought and Paid For to actualy Do the Right Thing? That is the Problem. Fix that and possibly all the others will fix themslves.
notarobot"The big banks have contributed to the campaign funds of 98% of [representatives in Washington]*"
From: http://videosift.com/video/Matt-Taibbi-on-the-Bank-of-America
*Exact quote forgotten and probably mangled, but the interview with Taibbi is very interesting for the interested.
renatojjsays...Start by breaking up the Fed.
messengerDoes the Fed contribute to political campaigns?>> ^renatojj:
Start by breaking up the Fed.
renatojjsays...>> ^messenger:
Does the Fed contribute to political campaigns?
I don't work there, you'd have to audit the Fed to find out.
The Fed's monopoly over the monetary system is what mostly facilitates crony capitalism. They use inflation to dilute everybody's wealth and benefit those who are politically connected and are getting the easy money first: the big banks.
messengerThat would be another smart thing to do then. But I'd start with campaign financing. Surely that has to stop first before there will be the political will to dismantle the Fed.>> ^renatojj:
>> ^messenger:
Does the Fed contribute to political campaigns?
I don't work there, you'd have to audit the Fed to find out.
The Fed's monopoly over the monetary system is what mostly facilitates crony capitalism. They use inflation to dilute everybody's wealth and benefit those who are politically connected and are getting the easy money first: the big banks.
Discuss...
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