Obama Was Indecent, Yellen Was Decent: Good Appointment, Joe!

Incoming Treasury Secretary Yellen Is Decent

TARP was Obama’s province, not Yellen. Yellen, Biden’s incoming Treas. Sec, long time economy prof at UC Berkeley, one of my alma mater, is decent. Obama’s policy of saving “banks” was indecent, and propelled inequality to heavens. And Obama still doesn’t get it, he is all proud to have saved the “banks”. Even Reagan & Bush didn’t do what Obama did. THEY nationalized THOUSANDS of banks. Obama nationalized NONE. https://patriceayme.wordpress.com/2009/01/25/tarp-transfer-of-assets-to-rich-people/

GINI measures in one number inequality in a society. Clearly it augmented under Obama, and as a consequence of Obama’s policies. Obama thinks he saved the banks, and talks like it. Actually he saved the rich from their own speculation (rendered possible by Clinton’s destruction of the Banking Act Of 1933. In other words, fake democrats all of them… But Yellen is much more the real thing, a real democrat, at least, when she writes and talks… Whereas Obama, to this day, understands nothing in this subject (and that’s why he kept getting 400K for every single speech he makes to the wealthiest… Good boy Obama…

From my TARP essay, which is nearly 12 years old:

Both US propaganda and way of life were fabricated by the plutocracy to serve itself better.  Those, and various plutocratic plots, need to be dismantled, starting with TARP, which is therein revealed in its full glory as the acronym for “Transferring Assets to Rich People“.

Furtherance of TARP is furtherance of the plutocratic plot that ruined the world, to enrich, and empower the few. Once the political “leaders” exit power, having used it to serve the wealthiest, they get rewarded accordingly. Now the People have started to rebel by refusing to pay mortgage (which is French for waging one’s life on it, an obviously deplorable concept). Real change can only come through massive nationalization of the financial system, and declaring most of the derivatives’ markets null and void.

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TRANSFERRING ASSETS TO THE RICH PLOT:

The economic crisis is rolling on, fostered by, and increasing inequality. It was fundamentally caused by the PLUTOCRATIC PHENOMENOM. Just as in the Late Roman empire, the Rich became so powerful, they invented and legislated for themselves ways to increase their wealth faster than the wealth of the nation(s). Not just by tax avoidance schemes [among others, the 15% maximum tax rate money manipulators pay], or exporting jobs overseas, but also by harnessing loans from (ultimately) central banks for speculation (something Clinton’s dismantlement of the Banking Act of 1933 enabled).

Patrice Ayme