From ZeroHedge
By Chris Whalen
''Walker goes on to say that this decision does rise to the level of “what were they thinking’ when the Powers That Be think that somehow this is saving or strengthening the financial system. He refers to the now infamous 2005 bankruptcy reform legislation, where the banks made themselves senior to the very customers and savers they are supposed to protect. Pollock summarizes the situation nicely in the article:
"The way I read it was that basically you no longer have property rights. If you have your money in any (US) financial institution, you now have no property rights because in a crisis situation a bankruptcy judge now has the right to say that all of this speculation (by the banks and brokers) takes precedence over your savings."
The liberal notion of “regulation” begun in the 1930s has become a bad joke. This legal decision shows that the only way we can regain control of the US politically is to see the largest banks broken up. Unfortunately, neither of the political candidates for the presidency is likely to do anything of the kind. At the end of the day, the only alternative for people who will not live as slaves to the big banks may be to seek the peaceful overthrow of the government of the United States, at least as it currently exists today. Shall we start the revolution now? Or wait for the big banks to take everything that we have and more?''
read more
video from Warren Pollock
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