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How Wall Street Gutted Our Schools and Cities

Sat, 08/25/2012 - 15:25 — Dave Culver
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  • The complex machinations that pitted county treasurers against the deceptive wizards of Wall Street.
  • Wall Street's Biggest Heist Yet?
  • Wall Street Tightens Grip on Public Water as Local Residents Suffer

Pam Martens, AlterNet

Thousands of vacant houses in Baltimore's most blighted neighborhoods should be opportunities for job training and employment for hundreds of young adults wanting to change their lives. (photo: Open Door Baltimore)

(July 21, 2012) Wall Street banks have hollowed out our communities with fraudulently sold mortgages and illegal foreclosures and settled the crimes for pennies on the dollar. They've set back property records to the early 1900s, skipping the recording of deeds in county registry offices and using their own front called MERS. They lobbied to kill fixed pension plans and then shaved a decade of growth off our 401(K)s with exorbitant fees, rigged research and trading for the house.

When much of Wall Street collapsed in 2008 as a direct result of their corrupt business model, their pals in Washington used the public purse to resuscitate the same corrupt financial model - allowing even greater depositor concentration at JPMorgan and Bank of America through acquisitions of crippled firms.

Full story...

Related:

Wall Street Tightens Grip on Public Water as Local Residents Suffer, Common Dreams

  • Vulture Capitalists Descend on Public Water Supplies in the US
  • How To Succeed in Business Without Adding Value

 

 

 

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