The liberty of a democracy is not safe if the people tolerate the growth of a private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is Fascism—ownership of government by an individual, by a group or by any controlling private power. —Franklin Delano Roosevelt
James Wooley:
It is important to remember the primary product of Wall Street: the peddling of debt.
Often one hears of the necessity of Wall Street bankers for providing seed money for industry; but year after year we have observed them dismantling factories and shipping them overseas. We have observed them dismantling production facilities and shipping them overseas. We have observed them dismantling research and development laboratories and shipping them overseas
And year after year we have observed them ship all those jobs and careers overseas along with those facilities.
Dismantle, dismantle, dismantle is what we have observed. They securitize, and promote the privatization and securitization of everything. Then they transfer their private debt, from whence their millions and billions flow into their coffers, to the public, and then it becomes the public debt (or rather the public’s debt!).
Profiteering.
And what is the point? To enrich a few and to impoverish the many. As usual.