Rescuing the Banks Instead of the Economy

By Michael Hudson

November 02, 2018 "Information Clearing House" -  You canít bail out the banks, leave the debts in place, and rescue the economy. Itís a zero-sum game. Somebody has to lose. Thatís what happened in 2009 when President Obama came in. He invited the bankers to the White House and he said, ďIím the only guy standing between you and the mob with pitchforks,Ē by which he meant the voters that he was bamboozling. He reassured the bankers. He said, ďLook, my loyalty is to my campaign donors not to the voters. Donít worry; my loyalty is with you.Ē

 

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