How The Banks Steal From The System.
The largest contributor and recipients of the Bribe System are the banks. By bribing the politicians and the media they've managed to reap untold profits and when they have losses we (the public through our government) pay for their losses. Called “bailouts.” Over the last twenty years the Federal Reserve, Banks, and Corporations have used “Financial Engineering” to manipulate data to not represent the true value. Delivering money to the top 1% of the population who pockets the money knowing that it is a house of cards. Clawbacks are no longer enforced so when a crisis happens the money can't be taken back from the 1% who have stolen the money from the Bribe System.
The banks, by bribing the politicians and influencing the media, have convinced the public there is a national government bank called the “Federal Reserve.” It is not a publicly-owned national government bank. It is a private bank owned by undisclosed people and the amount of the profits to the owners is not disclosed.
The Corporate Media likes to complain that people got a little bit of money from the government during the COVID Pandemic. They never talk about how the Federal Reserve shot Trillions of Dollars to Wall Street (the Bribers). They don't want to inform people about the Corporate Welfare that far exceeds the amount given to the average citizen. When the Stock Market was crashing in March 2020 the Federal Reserve poured Trillions of Dollars into the Bribers buying assets, buying stocks, buying bonds, and buying treasury bills so that they expand the balance sheet during the coronavirus crisis. Actually, it all started in March of 2009 when the Republican Recession was causing a financial crisis – remember the bailouts. The stock market crashed which is why the Federal Reserve went into action, they shut off the treasury and took extraordinary actions never taken in history. The rich people got tons of money and tons of support, way more than working-class people. None of the Mult-Trillions of Dollars that went to the Billionaires is being paid back to the government. But, oh my God, when people were made able to feed their kids with the small amount of assistance the public received meant to the Corporate Media that the average person is the “freeloader.”
Since the Great Republican Recession of 2008, the Federal Reserve conducts “Stress Tests” on the nation's banks. The supposed purpose is to determine if the banks have enough capital to continue lending to households and businesses during a severe recession. This process is a shame. There is no “Stress Test” on the Federal Reserve to determine if it is solvent. The main purpose is to justify that by passing the test, banks will be allowed to return hundreds of billions of dollars to investors in the form of dividends and stock buybacks. Money that eventually comes from the United States Treasury.
You routinely hear about a bank(s) being fined millions of dollars for breaking the law; doing something unethical, money laundering, or illegal activity. The millions of dollar fine is a slap on the wrist because the bank(s) made billions of dollars. You never see a bank executive go to jail for a crime. It's all part of the Bribe System.
Student Debt has been railroaded by the Bribe System where the Banks make out like bandits. A college graduate is straddled with burdensome debt that is almost impossible to pay off and legally can't declare bankruptcy. Forty years of Reaganomics have gutted the American education system. The American middle class has massive student debt. America is the only developed country in the world that has the student loan industry sucking the lifeblood of the middle class. A lot of people worked really hard to pay off their student loans, good for them. But they shouldn't have had the debt in the first place. Many people who have student loans have paid the equivalent of the principal, it is the excessive interest and fees that they are trying to pay off that are strangling them. Through no fault of their own for not being rich they should never have had to have student loans in the first place. People will try to debate that then we'll be paying off the rich kids' debt. Hello!? Rich people don't have student debt! They didn't need to take out a loan.
While the financial industry once kept a low profile in elections, it’s no secret which races its banking on winning to own politicians. Big banks aren’t shy about the fact that they’re using multiple political groups to run misleading ads and donate millions on behalf of key Republican candidates they believe will help them slash regulations and preserve predatory practices. The fact that bankers are intervening so shamelessly on behalf of Republicans and other right-wing demagogues might seem surprising — but the in-your-face approach is exactly the point. The Political Action Committee (PAC) Friends of Traditional Banking claims it's not a traditional PAC by describing how it bundles cash from donors nationwide and deploys it on behalf of a few endorsed candidates each cycle. The group is a super PAC, which means it can raise unlimited funds from individual and corporate donors. Friends of Traditional Banking explains its origin as a corrective to crushing over-regulation in the wake of the financial crisis, however, the Bankers are making record profits. The super PAC helps elect mostly Republican candidates by raising money for expenditures as well as delivering hundreds of thousands of dollars a piece to the candidates in direct contributions from its “friends.”