Friday, August 19, 2011

Madoff Whistleblower – Banks Are Ripping Off Pension Funds

As we have remarked before, those who believe Wall Street corruption was limited to the housing bubble are delusional.  We have highlighted so many methods of Wall Street ripping off society and people around the world.   Schools, municipalities, corporations, citizens, our government, each other, foreign countries, impoverished people around the world and on and on and on.  Wall Street makes money by ripping people off.  It is a criminal racket and needs to be prosecuted under the RICO organized crime laws.  Seriously. 

As a democracy, why do we have a banking system that primarily serves to enrich a handful of people rather than with a primary intent of human development and democracy?  Democratic banking should be a public utility.  We need a public banking system.  Period.

Title link here.

posted by TimingLogic at 5:57 PM