You’ve watched Inside Job on Netflix, Too Big to Fail and The Big Short, but have you seen The Warning? It points to the root of the problem and is in my view the most important of these films to truly understand.
Meet the Bill Clinton Financial Working Group along with Timothy Geithner and Gary Gensler. This is a MUST WATCH video.
Then the meltdown happened 10 years later and Obama hires the same team that derailed Brooksley Born, kill Glass Steagall and wrote the Commodity Futures Modernization Act while working for President Bill Clinton. That team then faithfully lets Wall Street and the Bankers off of the hook and made sure there were no strings attached to the billions they received to bail them out, shielding them from any losses with a 100% payout guarantee from Obama, under the direction of Timothy Geithner and Hank Paulson. Keep in mind that they are talking about $7.7 Trillion in loans and $870 Billion in TARP money, $4.4 Trillion in bond stimulus and upwards of $20 Trillion in loans to banks around the World! These are HUGE dollar amounts given with no strings attached and people lost their homes as a result.
Obama had the opportunity to keep people in their houses, but DID WORSE THAN NOTHING once he became President as this video shows! As a result the bankers felt no obligation to change what they were doing and they kicked people out of their homes just because they could make a little more profit by taking those houses off of their books. Then they banks were allowed to bulldozed many of those houses that they kicked the people out of, all while giving themselves fat bonuses.
Watch Timothy Geithner and Obama not punish the bankers here. I start the video right at the crucial location, but the entire video is available on the Frontline website. If the video does not start at 36:07 fast forward to that spot.
Start video at: 36:07
Then here is the follow-up from C-Span, where Brooksley Born is questioning Alan Greenspan in 2012. She tells Alan Greenspan that the market he refused to regulated grew to $680 TRILLION!!! and crashed the economy. Then Alan Greenspan flat out lies about the size of the market and Brooksley Born points out his lies, but then the house chair cuts her off due to time. If the video does not start at 10:57 fast forward to that spot.
Start video at 10:57
I am covering this because we are heading there again and the problem really is the Neoliberal Democrats. Bill Clinton’s people made the rules and Obama carried the torch by allowing the banks to kick people out of their houses.
Gary Gensler, who played a key role in the Commodity Futures Modernization act with Bill Clinton and his Working Group went on to become the CFO of the Hillary Clinton campaign. Here is another example of how Gary Gensler and Hillary Clinton worked together to bend and undermine the truth for their personal gain.
This video is 5:28 long and is totally worth watching.
Trump and the Republicans are the symptom, but Neoliberals are the disease. We need to primary all of them in 2018. This means that taking on Nancy Pelosi in San Francisco is job one for us here is San Francisco… but that is for another post and taking on Nancy Pelosi will be the primary topic of this blog over the coming months.