Thursday, April 11, 2019

Banksters Are Asked Under Oath: 'Are you a socialist or are you a capitalist?'

Wednesday was a big day for entertainment from Congress. Should we have called it H.L. Mencken Day ?

As a follow up to the wonderfully entertaining back and forth between Treasury Secretary Steve Mnuchin and Rep. Maxine Waters (D-CA), the CEOs of seven of America's largest banks testified before the House Financial Services Committee, and Rep. Roger Williams asked a heroic and entertaining question.

Williams started off his questioning of the seven CEOs — Michael Corbat of Citigroup, Jamie Dimon of JPMorgan Chase, James Gorman of Morgan Stanley, Brian Moynihan of Bank of America, Ronald O'Hanley of State Street, Charles Scharf of BNY Mellon, and David Solomon of Goldman Sachs —by asking them :
"I want to ask each one of you, starting with Mr. Corbat, a straightforward question: Are you a socialist or are you a capitalist?" 
Each of the CEOs in attendance confirmed they were capitalists.

"Well it's a shutout for the socialists today," was Williams beautiful reply.

Well, that was fun but, of course, the banksters aren't capitalists, they are crony capitalists. There is a big difference.

It's a difference that most socialists and most college kids don't get. That is why they turn to socialism, thinking it is the only alternative to capitalism.

I discuss it in more detail here.


1 comment:

  1. It was probably too much to ask that one of them respond with the question, "Can you please define both of those terms for me before I respond?"