Toxic Reality

So here we go again. Another grand electoral battle in the world’s most celebrated democracy decided by largely ignorant voters heeding the power of money to deceive. Effectively befuddling the public with false arguments and insignificant choices, the 2012 Presidential election resolved nothing while leaving the nation in dire straits.

The reason is that the Wall Street hustlers who control both parties will continue to take no responsibility for cleaning up the economic disaster they created. Instead they will correctly expect that their massive campaign expenditures will guarantee further bailouts of ridiculously low interest money from a Federal Reserve System that is run by and for the bankers. A system abetted by a Treasury Department managed by former and future bankers who cater to the super wealthy while ignoring the plight of their victims.

At the heart of this mess is a still- moribund housing market that is in the toilet because of all the lousy mortgages the banksters packaged into toxic securities. Yet on the eve of the election, the Federal Reserve announced that it would buy $40 billion of the banks’ toxic securities every month in a continuing effort to make those swindlers whole. That’s on top of the $2 trillion already wasted on bailing out the banks. That’s the policy initiated by Republican President George W. Bush and maintained by Democrat Barack Obama. Thanks to that bipartisan agreement to put the bankers in the lifeboats as the economy was sinking, the bandits who caused this catastrophe were rescued while their victims were left to drown or at best tread water. After the worst economic crisis since the Great Depression, tens of millions of middle-class Americans were left unemployed and foreclosed. But the bankers who screwed them royally were hardly hurting.