Weekly World Revolution Update

"Too Big to Fail" banks are even bigger and fail-ier

"We have even more 'too big to fail' institutions; more politically interconnected, very deep and wide institutions that could create another systemic event," says (Gretchen) Morgenson, a Pulitzer Prize-winning columnist at The New York Times. "It's almost as if the situation that brought us to Fannie Mae and Freddie Mac having to be bailed out has now been squared or quadrupled. It's worse, not better."

(Joshua) Rosner, an analyst at Graham Fisher, wholeheartedly agrees.

"The risks are enormous" because there's even more concentration of assets among the biggest banks, which are "too big to analyze and manage," he says.

If the financial system was a "house of cards" before the crisis, the situation is worse today because back then investors had "some sense the numbers being given in annual reports and quarterly filings were accurate," Rosner says. "Now we know the government seems to be [complicit] in allowing them to fudge those numbers."
-Yahoo! Finance

The End Game for Credit Card Nation

Now if American households are being put into debt rehab, why is the national debt increasing? Much of the spending is happening for the top 1 percent of our country that are largely vested in the too big to fail institutions. The working and middle class is being slowly dismantled while money flows to the top to protect the profits of the very few banks that control most of the assets in the United States. Now that trillions of dollars have flowed to the top thanks to working and middle class taxpayers, these banks and the government are turning a blind eye to the public and shutting them out completely by taking away their plastic, kicking people out of homes, and offering a nice consolation of burger flipping jobs.

We are quickly reaching a point where if we do not get our financial house in order as a nation, the national economy might be facing something that is already being experienced by working and middle class Americans. At some point globally the scissors will come out and cut our plastic.
-My Budget 360