Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Financial Times Columnist Skewers Wall Street Model in the New York Times

Courtesy of Pam Martens

Rana Foroohar

Rana Foroohar

Rana Foroohar, an Associate Editor and Global Business Columnist for the Financial Times, penned an OpEd at the New York Times yesterday that was as audacious in its insults to the Times’ richest hometown industry, Wall Street, as it was brilliantly in touch with the abject dysfunction of the U.S. financial system.

Foroohar’s thesis is this: “…there’s a core truth about our financial system that we have yet to comprehend fully: It isn’t serving us, we’re serving it.”

Foroohar describes in specific detail what Wall Street On Parade has long described as Wall Street’s institutionalized wealth transfer system. (See our articles describing this system under the menu button above titled “Wealth Transfer Schemes.” You may find two particular articles of interest, here and here.)

Just how high up the chain of command this “service” to Wall Street goes was deftly captured in a Tweet by the President of the United States on Monday of this week. In the midst of a humanitarian crisis in Puerto Rico, where upwards of 3 million fellow Americans are living with limited access to food and water and without any municipal electric power in the midst of a sweltering heat wave in the aftermath of Hurricane Maria, President Trump Tweeted about the “billions of dollars owed to Wall Street and the banks” by Puerto Rico, adding that this debt “sadly, must be dealt with.”

To those of us who instinctively know how Wall Street has its way with Presidents of every stripe, it sounded like Puerto Rico was either going to be extorted in the midst of a humanitarian crisis into sweetening the pot for its creditors on Wall Street or strong-armed into the kinds of privatization schemes that Wall Street has so cleverly inflicted on cash-strapped nations in the past.

Continue Here

 


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!