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Investigation By Bernie Sanders Finds That Wall Street Runs Our Government
The conservatives continue to tell us we are heading toward socialism or even worse, communism, but this is far from the truth. The fact is according to the Government Accountability Office and the investigations by Senator Bernie Sanders, it turns out our country’s economy is run by Wall Street itself.
This is by definition a fascist government. Yes, we still have many freedoms, but our monetary policy and our laws that govern banking are formed by Wall Street’s executive.
According to Senator Bernie Sanders
Top executives from Goldman Sachs, J.P. Morgan Chase, General Electric and other firms sat on the boards of regional Federal Reserve banks while their firms benefited from the central bank’s policies during the financial crisis, the Government Accountability Office investigation found. The dual roles created an appearance of a conflict of interest, according to the GAO.
These Wall Street executives are making the rules of our nation’s monetary policy and effecting our economy. They raise and lower interest rates at the discount window which allows banks, mainly Wall Street, to borrow money at near zero percent interest rates. They pick and choose which banks get help and which banks to turn away.
This is Wall Street running our government. Even though the Federal Reserve is a private bank, it creates rules and policies that affect our country.
Thanks to Dodd-Frank, a law many Republicans want to repeal entirely, this information is coming to light. Once again, we are Occupying Wall Street because of this very problem. We live in a country that allows the 1% to dictate the lives of the 99% and this investigation is further proof, not to end the Fed, but get rid of the one percenters with in our government.
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33 Responses to Investigation By Bernie Sanders Finds That Wall Street Runs Our Government
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Bobfr
Oct. 21st, 2011 at 2:55 pm
Our4thEstate Bobfr
Remember #OWS Dodd-Frank was signed by PresObama. He wanted a STRONGER Bill. Vote the #KOCHMAFIA out of Congress on 6Nov2012.
#PRESSON
Gloria Lemos
Oct. 22nd, 2011 at 2:22 pm
While we still have the illusion of freedom in America, until we get the Koch brothers treasonous Tea Party out of our own congress, we shall never be really free at all.
Shiva (Moderator)
Oct. 21st, 2011 at 5:06 pm
this is one time where Bernie Sanders should team up with Ron Paul no matter how distasteful it would be and get to work getting this message out. This is powerful stuff, seriously powerful stuff. we’re talking billions and billions of dollars. I want to see this news out in the open and I want to see the Republicans stand up and try to dismiss it or hide it, or try to take the power away from the government to do anything about it. This must become public. I am very upset from reading this. This bank must be regulated heavily.
I am sure they would find far more than just conflicts of interest, I’m sure you’re going to find personal bailouts as well as selective bailouts. The rich scratching the riches back
Johnee
Oct. 21st, 2011 at 10:50 pm
Yep. This is why we are supposed to have a system of checks and balances. Both FDR and Teddy Roosevelt ( back when the Republican party was a completely different animal) warned and campaigned against this nonsense… The collusion between big business and governmental politics. One would have thought after the horrors of the great depression that the American people would never let this happen. Yet here we go!
Yes Shiva, I agree this is a bombshell, and it needs to go public pronto. As it pertains to election matters, considering that the majority of Americans already agree with the Pres on a number of major issues already, this new information is just MORE ammo that PBO and the Dems can use. No excuses if they don’t capitalize on this.
Greg
Oct. 21st, 2011 at 11:32 pm
How do you not realize Obama is a Wall Street man? The guy was a Trojan Horse from the start.
Thank god for Bernie Sanders.
Brett Pavel
Oct. 23rd, 2011 at 12:59 pm
Amen. His cabinet is filled with these guys. I was totally duped.
Brett Pavel
Oct. 23rd, 2011 at 1:00 pm
PS: Everyone says I am a conservative, but I must have changed. Everything Bernie says makes sense. I scare myself.
Colleen
Oct. 24th, 2011 at 4:47 pm
We can’t blame President Obama or for that matter any politician as it’s a corrupt system they operate in. If President Obama turned down Wall Street money they’d give it (even more so) to his opponent and the one with the most money/toys wins. We need to get money out of politics in order to have have our democracy back.
pspaulrsullivan
Oct. 22nd, 2011 at 6:56 pm
Trillions ! Bof A just moved derivative trades from Merril to banking reported at 70 Trillion this is 4-5 times U.S. GDP. These toxic bets need to be cancelled since there between bank enities .Stop the Madness .Contact your elected congress person an demand it stop.
Eykis
Oct. 21st, 2011 at 5:13 pm
Thankfully we have Bernie Sanders in the US Senate – a man who is unafraid go against Wall Street, Rethugs and the rest of the fewls who hate America.
I have asked this question many times and have yet to find an answer, so if anyone can point me in the correct direction, I would appreciate it very much.
WHY does JPMorgan run the EBT program? Google EBT, you know they are being paid for this and no doubt ripping off the American Taxpayers while doing it.
A friend of mine works in the local food stamp office and she told me that she tells her clients to USE every single dime on their EBT card because it does NOT go back to the Taxpayers. It winds up in the hands of Wall Street. Can you imagine how much a few dollars here, a few there will add up to considering the vast amount of people needing government services for food and shelter now?
Geastman
Oct. 21st, 2011 at 5:37 pm
Bank of America runs the Unemployment system now…I pull every dollar out right away and never use the card for anything but ATM draw. Screw them! You know they are gettin paid on this deal especially if you make purchases or pay bills with the card! Unbelievable!
Greg Mundy
Oct. 21st, 2011 at 6:23 pm
This should come as no surprise. Turns out that Lehman’s undoing was tied to the fact that it’s senior management team was comprised of mostly DEMs with one lone GOP member (a Bush relative) – so much for family huh? The ties to the financial system and the control they exert is glaringly obvious to anyone that reads a credible newspaper, watches the BBC or PBS or listens to NPR. Let’s hope that enough US citizens get behind the OWS to force real change because the all out attack on the poor and middle class by the wealthy has to stop. hope that regular citizens will be able to support the President because the GOP is quietly amassing hundreds of millions of dollars into the coffers of the :shadow Super PACs” being run by Rove and the Koch Bros….the real concern here is that there is no limit to the dollar amount of the donations to the Super PACs – Individual candidate campaign donation max is $2500…..can you say, Murdoch, Koch. Wal-Mart CEO, Home Depot CEO send me $100,000,000 each so you don’t have to pay any taxes, adhere to EPA laws or labor laws after the 2012 election?
Athena Melville
Oct. 21st, 2011 at 8:03 pm
How any one can suggest Bernie Sanders is anything like Ron Paul has not done their research.. Don’t put Bernie in the same camp with that racist, anti Civil Rights, anti a woman’s right to choose jerk.
Shiva (Moderator)
Oct. 21st, 2011 at 9:03 pm
Both Bernie and Paul are dead set on busting the Fed. I didn’t compare the two, but they would sure do a good number on the Fed together
And that’s from doing my homework
Scot Moorhouse
Oct. 21st, 2011 at 8:54 pm
Thats crazy to think that Bernie Sanders is like Ron Paul, Bernie Sanders is a Independent Senator from Vermont. Bernie Sanders is a true fighter for Democracy and everything a representative of the people should be, not for Wall Street and the Bankers like the Republicans and Liberatarians like Ron Paul. Bernie Sanders has Health Care as a right, not a privalige in his state of Vermont and it is one of the best states to live in for raising a family too ! Bernie Sanders knows that senoirs depend on social security to survive, and we all can’t afford to educate our kids in private schools. Mr.Sanders has common sense, and today theres nothing common about common sense. He knows to hate social programs and institutions is insane, like public education, fire departments & first responders & police departments & post offices and even the U.S Military ! Bernie Sanders is a socialist and proud of it, because theres forms of socialism in all governments that help lift up the common people and level the playing field between the rich & the poor. Corporate subsidies (corporate welfare) are one in the same and also socialism. Anything funded by tax dollars is socialism including the Wall Street and bank bail outs, that type of socialism along with war is ok, but the Republicans and Libertarians only want the rich to benefit from socialism, not you average America !!
Shiva (Moderator)
Oct. 21st, 2011 at 8:59 pm
Paul and Bernie both have it in for the Fed. Thats well known
P Scott
Oct. 22nd, 2011 at 1:26 pm
Ron Paul SAYS he wants to do things to change the Federal Reserve Bank, but thus far it has been ALL TALK. I have NEVER seen Ron Paul do anything to enact the changes he states he wants to make. It’s all rhetoric to perk up the dog-ears on his supporters. Most of the new republicans that got in office in January that way. I’m ticked at EVERY ONE OF THEM- they SAID they would create jobs and ran on that platform, and then when they got in they focused on killing unions, voting rights and abortion rights? Personally, I don’t like being lied to and I PRAY Americans will study their federal laws so they know they are not stuck with these people as our representatives. Right now they are IGNORING OUR WANTS AND NEEDS! I would hope that when THEIR JOB is at stake they would focus on doing it better lest they lose it…
Shiva (Moderator)
Oct. 22nd, 2011 at 1:47 pm
I do not buy that Ron Paul is all he says he is. His world would have your homes totally unsafe, your work place, the cars you drive and the food you eat.
Misfist
Oct. 21st, 2011 at 11:19 pm
No one was comparing Bernie Sanders and Ron Paul… It was simply stated that since both happen to believe the Fed is corrupt, perhaps they could pool efforts to expose (with the goal of putting an end to) the corruption.
Pat SHarp
Oct. 21st, 2011 at 9:59 pm
Student Loans too. I went back to school 15 years ago.to learn computer software to STAY COMPETITIVE in my WELL ESTABLISHED, free lance Art business.
At 58 I couldn’t get a job in the field…..The myth that young people were more adept prevailed…( I taught my Grandson how to play the HArry Potter game & how to go online, now he is s designing software but that is beside the point. I did 2 years of an AMeriCorps VISTA to pay off most of the lians………the Stafford unsecured were just sold off by my small local bank to NELNET. They were NOT efficient, porganiozed.the womantried to e tell me it was a govt agency under the Depot of Ed Didn’t smell right so I googled. The CEO makes $1010,440. annually. The stock onthe OPEN MARKET is $21.11 today. Corporatocracy!
Live Free
Oct. 22nd, 2011 at 1:26 am
While street is running our government… with the collusion of the Federal Reserve!
The big banks would only have a small fraction of the power if we eliminated The Fed. Eliminate the Fed and make it illegal for corporations to donate to political campaigns and that will solve a large portion of the problem.
Jag Pop
Oct. 22nd, 2011 at 5:53 am
It is unbelievable, simply unbelievable, that people think we can control the banksters by voting for Democrats (you are wise to the Republicans, but that is a nobrainer). GET A CLUE. The Democrats and Republicans BOTH have been holding people down while they get sheared by banksters.
STOP IT, STOP IT RIGHT NOW! Get a clue and get out of that revolving door, you are NOT moving forward by voting for either wing of the Corporatist Party.
P Scott
Oct. 22nd, 2011 at 1:32 pm
So true. Most politicians are greedy liars that would sell their first-born to the highest bidder. Very few of them can be trusted to make a choice of a constituent over a payoff.
ESLombard
Oct. 22nd, 2011 at 9:21 am
All this clamor is fine, but it seems to happen repeatedly through the years. I think that we need greater public vigilance and transparency. Alas, greed and avaricious competitiveness will sneak in no matter what fine laws and regulations we employ. We should have sophisticated, smart retirees out there examining everything that government does or does not do. Probably more than half of us have a toe in the stock market somehow but have no direct control or understanding of the implications of corporate moves. More vigilance and transparency!
chinggiskhaan
Oct. 22nd, 2011 at 11:39 am
We should find the names of the people that own and operate these companies and publish their names and addresses and go after them.
Joel S
Oct. 22nd, 2011 at 12:09 pm
This is mostly “old” news…thank to Frank/Dodd? Yeah right…this bill does very, very little…akin to a political bandaid to a major problem. Remember Frank and Dodd were both big drivers in this financial train wreck…signing onto the Community Reinvestment Act of 92/93…Bob Rubins financial frankenstein. Both parties are bogus and have been playing the American public for ages….send them all HOME…535 morons making decisions for 300 million people…politician’s only respond to those who give them the most money…send them all HOME NOW! Direct Democracy !! If I can bank online I can vote online. If given the opportunity do you think the American people would have voted to give the banksters all those bailout dollars..hardly. Direct Democracy Now!
William Harris
Oct. 22nd, 2011 at 2:28 pm
I agree with Sanders 100%. I think this may have began during Reagan and has been going on since. The tax cuts for the rich has made it worse and now many peoples incomes are now less in take home pay than they took home in 2004. That was 7 years ago. I support the 99% Ers. 100% and wish CNN and some other TV news stations did also. MSNBC, Link TV and Free Speech TV are great in telling us the truth by some of their news people. Getmoneyout.com can help, but we need a one party Congress that has many people in it like Sanders in order to pass bills and have a Democrat President to sign them into law to change Wall Street and the Federal Government SYSTEM that we now have where corporations buy out Congress and the Presidents.
Chris Carrington
Oct. 22nd, 2011 at 2:31 pm
Duh! So when is there going to be a push to change how elections are funded??? That is at the root of everything!
jake
Oct. 22nd, 2011 at 6:35 pm
*affect
Phreqd
Oct. 23rd, 2011 at 12:44 am
What’s going to happen is nothing is going to happen. Lets be realistic. People will protest and occupy but there will be no change. The two parties will continue to be elected. “Lets get rid of the CEO’s and Congress-critters!”. What’s the plan for doing that? Who are all these people that are going to replace them? How come no one has a solution? When is this going to happen? How is it going to happen? You can sit there and say “we need to do this and that” but no one is actually doing anything towards it. If you think all of America is behind you, you’re wrong. You’ll only get support when there are concrete plans and action. So continue to sit and occupy and chant. If that’s all you got, you’re not impressing. Show me something. A leader with a plan of action. People who will be running for office. Until then, I’m not against you, but I’m not for you either.
Ago Vespucci
Oct. 23rd, 2011 at 1:09 am
Don’t be retarded. You do an injustice to those living under true fascist governments in referring to our own as such. The way the term “fascism” has historically been used doesn’t match up with the (many) freedoms and (flawed but still real) democracy we have in this country. I’ll accept that, as you say simplistically, “Wall Street runs the government”, but it’s absurd and useless to call the U.S. fascist. Our government meets the definition of fascism in the same way that me punching you in the shoulder meets the definition of genocide (look it up, it does).
A Walkaway
Oct. 23rd, 2011 at 11:45 am
That depends on your experience of the government.
If you’re white, middle class, and straight, you’re more likely to not see what the reality is for many Americans – that is, until you loose your job and end up homeless.