YES! - Systemic Risk abounds. Nothing has been fixed since the crash of '08. The Zombie Banks are due to fail.
98%
NO! - This is just a single botched trade by a rogue London trader. There’s no real systemic risk here.
2%

Comments

telliottmbamsc's picture
telliottmbamsc 4 years 2 weeks ago

Who cares.

The 99% is down to their last remaining hope for a fair and just American Society coming from a massive involuntary, and unfortunately very disruptive, redistribution of wealth. With any luck the power structure will also change in favor of the people.

Sadly, a “bad event” is probably something we’ll have to go through to get back to a democracy. Right now we are languishing in velvet fascism that is increasingly outright blatant fascism and we are getting ever closer to falling flat on our faces.

It’s like the only medical advice 10’s of million of Americans can afford when their sick: “barf, you might feel better!” In this case the barf is the 1%, ALEC, lack of campaign finance, and the political economic structure in general we have fallen into.

arky12's picture
arky12 4 years 2 weeks ago

I watched an interview on CNBC yesterday that included former Governor of NY Spitzer. Also included were other bankers, etc. who all seemed to agree that more regulation was needed and/or that banks should be either broken up or investment banking should again be separate from depositor money. Also indicated that anything within banking that is covered by the FDIC should not be open to this type of investment gambling. I have been somewhat encourage by Republican leaning news, bankings, etc. who now seem to favor more regulation, not less. Maybe this is a wake up call that it's been business as usual and there is some concern that we'll experience a repeat of 2008. I hope this sentiment gets through to the House and they push through tougher regulations.

John Defalque's picture
John Defalque 4 years 1 week ago

According to the documentary , "97% Owned", just 2.5% of our money is real.The other 97% is digital, much of it fictitious money based on the fantasy island of Manhattan economy, the ponzi, casino fraud economy.

Add comment

Login or register to post comments

Two Thirds of all Americans would struggle to cover a $1,000 crisis

A new poll shows that two-thirds of all Americans would struggle to cover $1,000 crisis.

According to this poll by the NORC Center for Public Affairs Research, this type of crisis spans all incomes.

Latest Headlines

Who rejected United States-North Korea peace talks?

There were conflicting reports on Sunday regarding a recent proposal for United States-North Korea peace talks which was allegedly made before North Korea"s recent nuclear test

U.K. Pound Falls As Markets Get Brexit Jitters

Bloomberg said on Monday the pound had sustained its biggest fall against the dollar in 11 months

Clinton: I'll defend Israel but push for 'two-state solution

Hillary Clinton believes both Republican candidates Donald Trump and Ted Cruz "missed the mark" with their approach to the Israel-Palestinian Arab conflict
From The Thom Hartmann Reader:
"With the ever-growing influence of corporate CEOs and their right-wing allies in all aspects of American life, Hartmann’s work is more relevant than ever. Throughout his career, Hartmann has spoken compellingly about the value of people-centered democracy and the challenges that millions of ordinary Americans face today as a result of a dogma dedicated to putting profit above all else. This collection is a rousing call for Americans to work together and put people first again."
Richard Trumka, President, AFL-CIO
From Screwed:
"I think many of us recognize that for all but the wealthiest, life in America is getting increasingly hard. Screwed explores why, showing how this is no accidental process, but rather the product of conscious political choices, choices we can change with enough courage and commitment. Like all of Thom’s great work, it helps show us the way forward."
Paul Loeb, author of Soul of a Citizen and The Impossible Will Take a Little While
From Cracking the Code:
"No one communicates more thoughtfully or effectively on the radio airwaves than Thom Hartmann. He gets inside the arguments and helps people to think them through—to understand how to respond when they’re talking about public issues with coworkers, neighbors, and friends. This book explores some of the key perspectives behind his approach, teaching us not just how to find the facts, but to talk about what they mean in a way that people will hear."
Paul Loeb, author of Soul of a Citizen