The bankers owe 1.5 quadrillion in derivative debt. This is the scam selling credit default swaps and the mortgage backed securities that is a fraud and useless paper.. Before the Glass Steagle Act. The selling of these types of financial instruments were illegal to do. The TARP bailout was not only a bailout to the Bankers. They singed the taxpayer on to their derivative debt they owe, not us. If TARP was not passed in 2008, the Central Bankers would die and paupers because they could not make good on all this useless paper called derivatives. There is one example of deadbeat bankers who will demand we pay back our loans with crushing usury added on. But when they are in debt they demand we subsidize their bad debts.
Before the Glass Steagle Act was repealed in the late 1990s passed by a republican House and Senate singed by President Clinton .Commercial banks and investment banks were kept separate for this reason to prevent the bankers from going wild. Has Washington hold these bankers accountable like Iceland did? No, both political parties are on the same page when it come to financial crimes against the American people. There is you deadbeat politicians who do the will of Wall Street and foreign banks, never standing for the Constitution and the American people who are now hurting because they passed the bad law repealing the Glass Steagle act.
The truth is we have deadbeat bankers because they will never pay their debts. They will always find a sucker politician to use our money to pay for their bad choices. We have politicians who do not uphold their oath of office. The political class is beholden to the donors who want to undermine the economy and our form of government for more money and power. The political class paid for the by the bankers bails out the oligarchs when they make bad choices and on the other hand will allow them to keep their profits when they do well. Congress has the audacity to give themselves a pay raise.
We are ruled by deadbeats who could care less who they hurt or make homeless. They are dead weight that needs to be tossed out like yesterdays garbage. Wall Street oligarchs get bonuses for running their companies into the ground. Politicians give themselves pay raises they think they are entitled to even though they have not done their jobs or fulfilled their constitutional obligations.
Our system is full of deadbeats who are dead weight on us. The burdensome taxes and unnecessary regulations are a ball and chain on the economy. It is obvious we need to get rid of these people in power. We cannot afford deadbeat bankers and politicians.
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