We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Wednesday, July 16, 2014

Citigroup: The Original Gangsta

Click here to access article by Robert Scheer from TruthDig. 
Barack Obama’s Justice Department on Monday announced that Citigroup would pay $7 billion in fines, a move that will avoid a humiliating trial dealing with the seamy financial products the bank had marketed to an unsuspecting public, causing vast damage to the economy. 
Obviously, Citigroup isn't the only "gangsta" that has wrecked so many lives of ordinary people, and we will get nowhere to solving these periodic crises and the dire future that lies ahead by casting blame on certain players. "It's the economy [system], stupid!" However, if the Justice Department were serious about pursuing justice, there would have been criminal charges brought against key players who knowingly perpetrated fraudulent deals. Instead Citigroup, like the other too-big-to-fail financial institutions have been rewarded by the Federal Reserve with trillions of dollars of near zero rate loans that Citigroup uses to provide credit for us at rates up to 21% interest.

For many more details on the deal worked out by the ruling class's "Justice" Department with Citigroup which provided cover for any criminal prosecutions, I highly recommend you read "$7 Billion Citigroup Settlement: About Those 25 Million Missing Documents" by Pam Martens.