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: Mortgage Lender Implode-o-Meter

Financial Threats to Power

By Implode-Explode Heavy Industries

"We were repeatedly told that major financial institutions were in "deep trouble" after the American sub-prime housing meltdown, yet these very institutions reported all-time record revenues and corresponding bonuses in 2009-2010, just one year after the global economy was on the brink of collapse. Meanwhile, wealth inequality in terms of incomes, financial worth and net worth has never been greater in the developed world. Regardless of whether this phenomenal transfer of wealth was a premeditated, coordinated effort by global financial elites, or a more "natural" result of financial evolution in a capitalist system, it is undeniable that the practical effects are the same - the rich get richer and more powerful while the poor get poorer and more desperate."

Full post as published by Mortgage Lender Implode-o-Meter on March 07, 2011 (boomark / email).