inside job, the documentary about what happened in the ‘financial crisis’ in 2008- what an important film. you can watch it in full HD quality for free.
and there are still new insights as to what happened exactly, as some recently revealed FED documents show.
The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates.
The amount of money the central bank [‘the FED’] parceled out […] dwarfed the Treasury Department’s better-known $700 billion Troubled Asset Relief Program, or TARP. Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year.
occupyeconomics. 300 economists stand with the occupy movement, and have published a statement.
supporting organization, econ4, caught my interest. they are proponents of economic models that benefit people, planet and the future. they have a nice video describing the problems with the friedmanite free-market disaster capitalism, but in this video below they also start mapping out solutions: they describe four necessary conditions for a better economic system:
- – a level playing field: food, healthcare, education, clean & safe environment
- – resilience: withstanding unexpected shocks
- – true cost pricing: dirty products will be more expensive than clean products
- – real democracy: reclaim democracy from self-interested parties
i fully agree with these points! the third point is what i have been saying for while now, especially when sitting in all those ‘green marketing’ conferences/talks. ecosocial products don’t have to be made more attractive, they just have to be cheaper. i don’t know anybody who would pay premium prices for products that use slave labor, degenerate their health, and steal our children’s future.