It Takes a Pillage.
How we got here and where we went wrong.
Instead of the rapacious robber barons of the early 20th century, we have the debt peddlers from investment banks, insurers and megabanks gorging on the Bush-era anti-regulatory buffet.
Muckraking journalist Nomi Prins explains how Wall Street converted loans into assets that allowed it to borrow much, much more than it could afford.
James Woolley says:
Interesting to note that the chairman of the American Enterprise Institute is also the owner of the one of the largest hedge funds on the planet (was rated the largest for two years running) and individuals from that outfit are forever out pandering for the banksters!
Now that $1.5 trillion is leveraged to how many trillions? Nobody actually knows. The hedge funds and the private equity buyout funds are all about quick turnarounds and quick and dirty bucks — raping and pillaging companies and employees and the real creators of progress and wealth and social stability!
DailyKos is running a series: 1,000 Companies Attacked -> 1,200,000 Jobs Destroyed