Sunday, November 20, 2011

Concentrating Financial Power

The government on Friday seized and shut down two more small banks, further increasing the market share and concentrating the financial power of the major monopolistic financial institutions that have been favored and buttressed with bailout funds.

While the Occupy crowd is highly objectionable in many ways, its members are on to something in recognizing that things have gone very wrong in the U.S.

The big and powerful get taxpayer money funneled to them through the public treasury and/or by having it printed for them by the Federal Reserve. Lesser institutions and individuals are left to fend for themselves and if they don't go belly up they are forced to pay for the whole shebang.

The fat cats have a good thing going with socialism for the rich, the big, the powerful, and the politically well connected, and free enterprise privation for everyone else.

Has this become a great nation or what?

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