The collapse of Lehman Brothers in autumn 2008, a Wall Street event of seemingly minor importance, marked the beginning of, first, the US, and, then, the global financial crisis. Three years later, the Occupy Wall Street protests initiated by US youth organisations gave rise to a mass movement that’s rocking America and has spilled over to 82 countries, spreading like wildfire and bringing thousands in countries all over the globe out into the streets. As in 2008, the turmoil started on Wall Street in Manhattan. As it happens, there’s a direct link between the events and the place that they originated from. For nearly two centuries, Wall Street’s symbolised American big business, a financial hub with a reach far beyond the US borders. 23 Wall Street, “The Corner”, is an office building formerly owned by financier J P Morgan, whose activities earned him the nickname “the Corsair”, or simply, “the Thug”. A principle once voiced by Morgan’s close associate, the rail tycoon Vanderbilt, guided Wall Street’s founding fathers, “Law? What law? Why law? Aren’t I powerful enough without it?”
The disastrous collapse of Wall Street banks in the autumn of 2008 left millions of Americans without homes, its evidence that “the kings of Wall Street” continue to practise “piracy law” in business. Even though they do it covertly, unlike their predecessors, they stick to the same methods and recognise the same moral values, or to be more exact, the same lack of values. Cornered by congressmen’s questions in 2008, Lehman Brothers General Director Richard Fuld Jr had to admit that he’d falsified bank reports and been cheating on clients for several years. Half a billion dollars landed in Fuld’s pocket over the years… and Fuld wasn’t alone. FBI agents clapped handcuffs on 406 top banking officials. Nearly half a thousand bankers found themselves behind bars.
The burst financial bubble on Wall Street triggered a chain reaction worldwide. Europe, which had been at the forefront of the US political and economic policies for years, turned out to be one of the weakest links in the post-war global financial system. As before, the European capitals are struggling to get out of the debt strangling them by shifting the burden of it onto the people. However, the times when the well-oiled and generously financed western media machine could mislead billions are in the past. Now, it’s time for the truth to come out as the bulk of the people came to realise where the evil lies. These millions are holding protests on Wall Street and in European capitals. We now know who’s responsible for pushing ordinary working people to the edge of poverty, and who’ve been the servants of those oligarchs, and they’ll have to answer for it, sooner or later.
29 October 2011
Voice of Russia World Service
Normally, Val Zorin writes a Russian original, and an English version is made from that, so, I usually translate the Russian version without reference to the English variant (if there’s one, that is). In this instance, the original post is in English, and there’s no Russian version, ergo, the English text (for a change) is the normative reading. All that I did was to go over Mr Zorin’s grammatical usage carefully, as he’s not a native English-speaker, and I corrected the few mistakes that I found. I did NOT change anything of substance. I did this so that you wouldn’t be distracted by a solecism or weak usage… all editors in all formats do this for their writers. This is a sign that Mr Zorin sees that the audience for his post is mainly in the USA… so, it’s written with the American audience in mind. He was a Gosteleradio correspondent in the USA from the ‘60s, so, he’s well-versed enough in American political and social realities. I’ve always felt that Val Zorin’s the bomb… but this is his best effort to date. This IS “read and heed” stuff.
Paul Ryan is guilty… Dropout Scott Walker is guilty… Sarah Palin is guilty… John Boehner is guilty… Herman Cain is guilty… Rush Limbaugh is guilty… they’re all guilty. For instance, Cain wants to lower taxes on the rich by imposing crippling sales taxes on ordinary people. Certainly, the Tea Party eats that up, but the mass of America won’t. The rightwing media machine screams that it’s going to make Obama a “one-term president”, but what’ve they come up with? They’ve produced nothing but vacuous and lunatic claims by “birthers” and crank studies from the usual rightwing think-tanks.
Don’t forget, the top 1 percent has 250 percent more of the wealth of the USA than it did in 1980; they did it by cutting you down to 85 percent of your 1980 percentage. There’s a class war going on… the rightwing started it… the rightwing continues it… the rightwing refuses to stop it. Their solution to all problems is simple… all the burden shall fall on the lower 95 percent, and they’ll shoulder NONE of it (don’t you see the “kindness” of the oligarchs? Their running-dog lackeys will also share in their exemption from pain). They’ll increase their salaries as they cut yours. The aim of Paul Ryan, Herman Cain, Rick Perry, Mitt Romney, Michele Bachmann, Rush Limbaugh, Newt Gingrich, Sarah Palin, and John Houseman is to slam their boot heel violently into the faces of those made helpless by the present Great Recession (it’s far from over). The blood on their shoes bothers not in the least. They have the money, they have the power, and you don’t matter to them at all. Note well that most of these amoral morals profess “Christianity”. If this doesn’t prove to you that White Anglo-Saxon Evangelicalism isn’t Christian, that it’s nothing but Satan’s simulacrum of Christ’s Church, nothing will (note to Orthodox people: Paffhausen, Potapov, Webster, Whiteford, et al want to ally us with such anti-Christian slime… I kid you not).
To end this, Val Zorin said it best…
We now know who’s responsible for pushing ordinary working people to the edge of poverty, and who’ve been the servants of those oligarchs, and they’ll have to answer for it, sooner or later.