About Patriot Dreamer
“When you see that trading is done, not by consent, but by compulsion – when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see that money is flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed.”
~Ayn Rand
***************************************************
In the battle between good intentions vs. unintended consequences….UC always win.
~Sharon
And some people are never expected to bear the consequences of their debt — it’s just magically erased away for them, with the confiscation of other people’s labors and savings.
Bank of America quietly bailed out by the Fed – again – without any notice to the American people or discussion in the corporate media. Side benefit of the under-the-table wealth transfer?
http://market-ticker.org/akcs-www?post=217638
From original NYT article:
Still, last week’s details of the undisclosed settlement between the New York Fed and Bank of America are remarkable. Not only do the filings show the New York Fed helping to thwart another institution’s fraud case against the bank, they also reveal that the New York Fed agreed to give away what may be billions of dollars in potential legal claims.
http://www.nytimes.com/2013/02/17/business/dont-blink-or-youll-miss-another-bank-bailout.html?_r=0
ytz, all of it, and this line in particular, bears repeating:
..…..erased away for them, with the confiscation of other people’s labors and savings……….
…….erased away for them, with the confiscation of other people’s labors and savings………..
…….erased away for them, with the confiscation of other people’s labors and savings………..
Digusting.
I hate banks