This is called "school", and there will be a final exam at the end of the class. Ignore the lesson doled out if you wish, but don't say you weren't warned.
Anyone who thinks this is just about health care has rocks in their head. Try this on for size:
This is not a new phenomena. In fact, U.S. bank-lying was found to have severely aggravated their last banking crisis in the 1990's through also consistently under-estimating/under-reporting the deterioration of their assets.
Given this context, it makes it even more obvious how utterly ludicrous and irresponsible it was for the U.S.'s accounting cop to create new rules to greatly facilitate lying about assets. If you want a heroin-addict to stop using heroin, then you shouldn't hand that person a jumbo-pack of syringes. Clearly this politically-motivated change in U.S. accounting rules had nothing to do with more accurate accounting which was the false pretext of the banksters, and the media propaganda-machine which serves them.
The changes had two, and only two goals: allowing the weaker, Wall Street fraud-factories like Citigroup and AIG to pretend to be solvent, while for the slightly stronger members of the U.S. financial crime syndicate it was a green light to loot the same corporate treasuries which had just been stuffed full of U.S. taxpayer dollars.
People are waking up.
He goes on....
Throughout this decade, the Wall Street banksters plundered more than $100 BILLION in fantasy profits from their global Ponzi-scheme and then needed roughly twenty times that amount in government hand-outs to avoid a sector-wide collapse last fall. Then, as soon as that crisis (temporarily) passed, they began to immediately loot the taxpayer hand-outs, as well. At the same time, all of these fraud-factories have slashed their dividends to shareholders, adding to the massive losses of these investors from the melt-down in share prices.
Now go read the last three paragraphs in that last cite.
Sit down first.
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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