Jason Y writes:
More like Wall Street greed, when looking at the 2007 meltdown. I did some research, and it seems like the derivatives market (insurance for stocks) exploded, However, it was Clinton who softened rules controlling the derivatives market, and also set into motion another law which allowed banks to invest ordinary people’s money.
How do Jews play into this? I don’t see them anywhere, no more than other greedy people who are cashing checks their asses can’t cash. That’s what it boils down to, investors are being protected by the government so they can play monopoly all they want. However, if they fuck up, taxpayers have to pay, and they did in 2007.
The derivatives market did not crash in 2007, not that it isn’t completely insane and ought to probably be shut right down.
And nowhere does the post mention Jews. Sure there are lots of Jews on Wall Street and in Finance Capital, but there are also many, many Gentiles there working right alongside of them. Anyway, the Jews haven’t run the world’s banks for 80 years. At one point, the Jews did have major control over the world banking system or at least the European Banking System. However that all ended, and by 1945, I assure you that the Jews did not run the world’s banks anymore, nor did they even run European banks. Something called the Holocaust happened, almost all of Europe’s Jews were killed, and a side effect of this was that the Jewish European banking monopoly was ended.
I recently did some research and while the Jews do have a few banks, it seems that most of the world’s banks are now run by Gentiles. Major nations for banking are the US, the UK, France and Germany. Jews own very few of these banks, particularly in Europe. Also large banks in Asia are starting to play a huge role in world banking, mostly operating out of Singapore and Hong Kong. Japanese banks are also important.
My conclusion from that research was that whether or not the Jews more or less ran much of the world banking system at one point, and they may well have done so, they sure don’t run world banking anymore. So it really bothers me when people conflate the banksters with the Jews or blame Jews for the crimes of the banksters. It’s just not true and I will support any innocent party accused of deeds they did not do.
The crash was related not to the derivatives market but instead to mortgage lending practices and indeed Clinton loosening the law requiring the two types of banks to keep their operations separate was instrumental in this.
However, 100% of Republicans also supported getting rid of Glass-Steagal. Glass-Steagal was enacted in the Depression because the practices banned in Glass-Steagal were what caused the Wall Street Crash and subsequent Depression in the first place.
So of course they got rid of those regulations, which the banks had been screaming for decades to get rid of, and then there were also sorts of warning about what a horrible idea this was and how it could lead to another market crash. And exactly 15 years later, it did just that. Then after the market crashed as the sane people predicted it would, all the media and the Republicans started screaming and yelling that the crash was caused by things that had nothing to do with the crash, like:
- The crash was caused by too many regulations, not too few.
- The crash was caused by the government.
- The crash was caused by Blacks and Browns!
- The crash was caused by the evil liberal government forcing kind, sweet, loving, tender-hearted banksters to loan money to Blacks and Brown lowlifes for homes that the banks knew the Blacks and Brown slackers could not buy. The banksters didn’t want to loan money to these non-White dirtbags, but the evil liberal government forced them. This line has been pushed very strongly by the racist right and even some radical Republicans like Steve Sailor. American Renaissance has always claimed that this is what caused the crash.
- The crash was caused by too much government, not too little.
- The crash was caused by government institutions called Freddie Mac and Fannie Mae, not the private sector banksters.
- The crash was caused by liberals and Democrats.
All of these are 100% lies made up by racists and Republicans to cover up for the fact that 100% of the crash was caused by getting rid of Glass-Steagal and subsequent loosening of regulations on the banksters.
Lie #4 in particular is a disgusting and despicable that tries to blame the victims of the banksters and other corporate criminals who committed crimes in order to victimize these innocent people.
There was also massive fraud and corruption on the part of the government and various organized crime cartels called “industries,” including the banksters, mortgage lending corporations like Countrywide, accounting agencies, insurance companies, and yes Freddie Mac and Fannie Mae, who were in on the scam along with all the other criminals.
All of these groups committed an incredible amount of crime, mostly massive fraud. There were calls to arrest a lot of the top criminals at the head of these criminal industries, but quickly the Justice Department realized that they would have to put half of Wall Street in prison (an excellent idea if you ask me), so they nixed the idea and not one of these kingpins, organized crime leaders and super-criminals went to prison.
Also the government was very slow about re-regulating the industry to make sure this destructive idiocy did not occur again. This was caused by massive obstructionism on the part of the Republican. Also Barack Obankster has very close ties with Wall Street. The woman Barack chose to head up the new Finance Industry Regulation Board has gone very slow on all new regulations. She has been doing nothing but carrying water for Wall Street ever since she walked in the door. It’s no exaggeration to say she has been a catastrophe.