End Corporate Personhood

Take it from a Tennis Ball, we need to end corporate personhood. This could be a tangible demand of the #Occupy movement, that is, amend the constitution to Get Corporate Money Out of our elections.

The following 4-min video is a remake of the VlogBrothers 2007 YouTube call-to-action ala the Nerdfighters "Project for Awesome".

Wall Street Crash

"The Wall Street crash doesn't mean there will be any general or serious business depression."
-- Business Week
November 14, 1929

Sources: "The working person's history of the great depression," Show me the Money, Issue 10, Autumn 2001.

Bogus Wall Street Profits Attract Investors

Trust your instincts on your reaction to the following:

Wall Street Headed for Record Profits in 2009

New government figures show Wall Street is on pace to have its most profitable year to date. On Tuesday, the New York Comptroller Office said Wall Street profits are set to exceed the record set three years ago, before the onset of the nation’s financial meltdown. The four largest firms—Goldman Sachs, Merrill Lynch, Morgan Stanley and JPMorgan Chase—took in $22.5 billion in profits through September. The top six banks set aside $112 billion for salaries and bonuses over the same period. In a statement, New York Comptroller Thomas DiNapoli said, “The national economy is slowly improving, but Wall Street has recovered much faster than anyone had envisioned.” [1]

My take on this is that the Obama administration knows the following and hopes you don't:

1. These too-big-to-fail financial institutions are insolvent, probably even despite the trillions in tax-payer bailouts.

2.The establishment, including the Obama administration, cannot expose this insolvency because they are trying to attract private capital (investors) to overcome the insolvency.

3. Investors need to see the too-big-to-fail financial institutions as "good investments," therefore these institutions need to be seen making profits.

4. The "profits" of these financial institutions are founded on complex accounting gimmicks.

5. This is all being done for one basic reason: To avoid the social chaos that would follow if the bottom were allowed to drop out of these financial institutions, which would lead to loss of power among many in the establishment.

Source:

1. Democracty Now Headlines, November 18, 2009.