Working man needs to pay more attention

Where do you get your information? Who would you believe?

Editor, The Times:

Banks of America! Sounds solid, doesn’t it? Stars and stripes, statue of Liberty – bring us your huddled masses, etc.

In a proper world, Bank of America would be a solid institution, a pillar of financial stability holding up the finances of the country with caution and integrity. A vital cornerstone in the financial health of the United States, one might say.

Not so, according to Matt Taibbi of Rolling Stone (Yes, rock and roll’s Rolling Stone). Where do you get your information? The Wall Street Journal, Financial Post, Forbes, Fortune, Fox, Global or any of those propaganda outlets dedicated to propping up a collapsing system? Who would you believe?

As Matt Taibbi points out, Bank of America has been involved in insane financial gambles that have necessitated more than one massive U.S. government bailout.

As one might have heard, a number of U.S. cities and countries have been forced to declare bankruptcy. Why? Well, it appears that, while supposedly managing the finances of their various cities and countries, Banks of America, Goldman-Sachs and other pillars of finance were shorting the U.S. cities in the interest and pocketing the difference. Competitive bids were squelched. As Taibbi points out, there is nothing these super ‘money men’ fear more than competition.

During the financial crisis in Greece a similar scheme involved Goldman Sachs (Goldman Sachs again?), which included betting against Greece’s recovery or some such thing. Of course, we were told that it was those lazy socialistic Greeks who were totally responsible for their financed predicament.

I’ve already dealt with the who do you believe!

The bankrupt American municipalities answer to their financial woes was to offer minimum wages to those who keep the city alive: firemen, policemen, and municipal workers. As usual, the money mongers stray and the peasants pay!

And so it will be until the aforementioned ‘peasants’ pay more attention to the likes of Matt Taibbi and less to the Wall Street Journal or the Financial Post.

Dennis Peacock

 

Clearwater, B.C.

 

 

Just Posted

TNRD removes sand from Vavenby’s well

To help the crew in removing the sand from the well, a special “shovel” was created

Fire department holds open house

Public event held as part of Fire Prevention Week

Above and Beyond awards for heroes of fire and floods

Nominations open for British Columbians until January.

Winds gust to 111 km/h in B.C. Interior

Environment Canada says yesterday’s wind storm was a historic event

VIDEO: ‘Lyle the singing pig’ searching for home

SPCA say the pig is ‘not opera-ready’

Man in custody linked police search near Salmon Arm

Police have not connected arrest to search at Salmon River Road property

B.C. search groups mobilize for missing mushroom picker

Searchers from across the province look for Frances Brown who has been missing since Oct. 14.

Search for missing B.C. man a race against winter weather

David Jeff of Williams Lake was last seen in Kamloops during the chaotic wildfire evacuations

Man steals police car, goes for a ‘slow’ ride

Mission RCMP say the motive of the theft is unknown

Dodgers punch ticket to World Series

This will be the first time the Los Angles Dodgers have made it to the World Series since 1988.

Surf group winning the war on plastic bags

The Tofino Co-op will no longer provide plastic bags, following in the footsteps of the Ucluelet location that already made the change earlier this year.

All three victims identified in Fernie arena ammonia leak

Wayne Hornquist and Lloyd Smith were from Fernie and Jason Podloski from Turner Valley, Alta

B.C. woman plagued by bedbugs on airplane not surprising, says expert

Heather Szilagyi was on a British Airways flight when she noticed bedbugs crawling out of the seat

Most Read