Why are we bailing out the banks? part three – Lies and Opposition

Click here to access article by David Malone from his blog Golem XIV (UK).

At the end of part two I suggested that the mainstream justification for bailing out the banks, namely that by so doing we have provided them with the money they need in order to lead the rest of us to recovery by investing in the real economy – was what Goebbels and his boss would call The Big Lie. The banks have demonstrably and unequivocally NOT used the money they have taken from the public purse to invest in the real economy. Nor are they going to.

Why not?

Excellent article which attempts to clarify issues about money, the recent economic collapse, and the austerity policies of the various One Percents. I'm not sure why I didn't post the earlier parts, but you can access them from this posting. I got so involved in the earlier posts and the astute comments following each post that I've run out of time for today's postings.