February 02, 2009
Banksters
The folks at the BBC coined a useful new word for us: Banker + Gangster= Bankster. Bankers are the new pariahs and have done much to deserve the label lately.
Ah, but once again, it's even worse than you think. BBC financial journalist Max Keiser believes that banks are a criminal syndicate Watch the movie which is embedded after a few cautionary quotes from important historical figures like Thomas Jefferson who warned "If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations that will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." Prescient.
Columbia's Nobel Prize winning economist, Joseph Stiglitz, thinks we should let the banks fail and start anew, but a commenter in the New York Post had the best idea for the banksters "Lock them all up with Bernie Madoff in his penthouse!"
Here's a bigger better version of the video just in case you couldn't get through it the first time.
Photo note: Cold day in hell
Addendum: Paul Krugman explains
Posted by Dakota at February 2, 2009 08:10 AM