Credit: John Tenniel

by Greg Palast

They may be crying about General Motors’ bankruptcy today. But dumping 40,000 of the last 60,000 union jobs into a mass grave won’t spoil Jamie Dimon’s day.

But not this time. Stevie the Rat has a different plan for GM: grab the pension funds to pay off Morgan and Citi.

Here’s the scheme: Rattner is demanding the bankruptcy court simply wipe away the money GM owes workers for their retirement health insurance. Cash in the insurance fund would be replace by GM stock. The percentage may be 17% of GM’s stock – or 25%. Whatever, 17% or 25% is worth, well … just try paying for your dialysis with 50 shares of bankrupt auto stock.

Read . . .

12 Comments

  1. Unfortunately, we don’t have the money nor the influential people from within our class structure to start our own “think-tank” to discuss how to change our country for the middleclass.
    I found this article that discloses the Biberberger agenda however……

    for more ……http://www.globalresearch.ca/index.php?context=va&aid=13808
    “The True Story of the Bilderberg Group” and What They May Be Planning Now
    A Review of Daniel Estulin’s book

    by Stephen Lendman
    excerpt…
    Bilderberg Objectives

    The Group’s grand design is for “a One World Government (World Company) with a single, global marketplace, policed by one world army, and financially regulated by one ‘World (Central) Bank’ using one global currency.” Their “wish list” includes:

    — “one international identify (observing) one set of universal values;”

    — centralized control of world populations by “mind control;” in other words, controlling world public opinion;

    — a New World Order with no middle class, only “rulers and servants (serfs),” and, of course, no democracy;

    — “a zero-growth society” without prosperity or progress, only greater wealth and power for the rulers;

    — manufactured crises and perpetual wars;

    — absolute control of education to program the public mind and train those chosen for various roles;

    — “centralized control of all foreign and domestic policies;” one size fits all globally;

    — using the UN as a de facto world government imposing a UN tax on “world citizens;”

    — expanding NAFTA and WTO globally;

    — making NATO a world military;

    — imposing a universal legal system; and

    — a global “welfare state where obedient slaves will be rewarded and non-conformists targeted for extermination.”

    Secret Bilderberg Partners

    In the US, the Council on Foreign Relations (CFR) is dominant. One of its 1921 founders, Edward Mandell House, was Woodrow Wilson’s chief advisor and rumored at the time to be the nation’s real power from 1913 – 1921. On his watch, the Federal Reserve Act passed in December 1913 giving money creation power to bankers, and the 16th Amendment was ratified in February creating the federal income tax to provide a revenue stream to pay for government debt service.

  2. This book tracks very much with my personal experience…

    http://solari.com/blog/?p=96

    I think you may find it useful if you have not read it yet.

    I would say that about 5% are fundamentally psychotic, 20% go along for a combination of fear and benefits and the rest can’t fathom what is happening and the more invisible and dangerous the system becomes the more they act based on fear, financial incentives and manipulation. What the 5% have found is that the most profitable systems are those which give people a positive cover story for their pain, manipulation, lack of freedom.

    This is one of the reasons that transparency is so powerful. We are like a large family that has been living in the dark for decades. Quite a shock if the lights should get turned on.

    So, ask the question, where do we want to go? Then ask the question, what is the most profitable way to get there? Then ask the question, what is the most profitable way to get everyone else supporting us getting us there? Then ask the question, what is the most profitable way to get everyone desiring us getting there? And so forth.

    It is a bit like livestock management.

  3. Catherine,

    That’s an interesting perspective. I’d always perceived that it is the sociopaths that are running the show at various levels, and are simply doing what sociopaths do, that is to grovel at the feet of higher power while striving for more power themselves. Are you suggesting that some don’t fall into the sociopath-camp, and are actually in positions of power (part of ‘the technocracy’) but are only going along out of fear of some kind? If you’re suggesting the latter, then any gut-level insight into what percentage fall into this fear-camp versus the sociopath-camp? And I wonder what action(s) can be taken to lesson the reluctant-technocracy’s fear?

  4. Doug:

    That is a good one. We posted it in Top Picks. There are so many good ones, perhaps some of these get buried.

    Bert:

    This is a two sided coin. I think perhaps the fear is invisible — the economic, financial and even physical dangers of not playing ball are very real. So things like magical thinking are made available to help people find a positive way of going along with something that deep down in side they chose out of fear.

    Catherine

  5. Is Larry Summers taking kickbacks from the banks he’s bailing out?

    Last month, a little-known company where Summers served on the board of directors received a $42 million investment from a group of investors, including three banks that Summers, Obama’s effective “economy czar,” has been doling out billions in bailout money to: Goldman Sachs, Citigroup and Morgan Stanley. The banks invested into the small startup company Revolution Money, right at the time when Summers was administering the “stress test” to these same banks.

    A month after they invested in Summers’ former company, all three banks came out of the stress test much better than anyone expected—thanks to the fact that the banks themselves were allowed to help decide how bad their problems were. (Citigroup “negotiated” down its financial hole from $35 billion to $5.5 billion.)

    The fact that the banks invested in the company just a few months after Summers resigned suggests the appearance of corruption, because it suggests to other firms that if you hire Summers onto your board, large banks will want to invest as a favor to a politically connected director.

    Last month, it was revealed that Summers, whom President Obama appointed to essentially run the economy from his perch in the National Economic Council, earned nearly $8 million in 2008 from Wall Street banks, some of which, like Goldman Sachs and Citigroup, were now receiving tens of billions of taxpayer funds from the same Summers. It turns out now that those two banks have continued paying into Summers-related businesses.

    http://www.truthdig.com/report/item/20090530_is_larry_summers_taking_kickbacks_from_the_banks_hes_bailing_out/

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