Massa’s Ridiculous Solution to Bank Crisis
Last Year, the collapse of the banking caught some off guard. It certainly did to Barney Frank, who testified that there was no problem. Congressman Frank’s “spouse” is the Herb Moses who is in charge of Fannie Mae. He was encouraging people to invest while Rome burned. By the way, Barney Frank is pretty close to Representative Eric Massa. He has given him a pretty hefty sum of money ($5000 total so far) and has thrown a pretty big fundraiser as well.
However, we are here because of Congressman Massa’s foolish comments about the solution to the banking collapse. He indicates in his announcement speech that if we had unionized Wall Street the collapse would not have happened. Seriously?!
So was there any questions on exactly how to perform this unionization of Wall Street. Or maybe how such a unionization would have stopped people.
It isn't as crazy as it sounds if you understand the Socialist movement. Keep in mind Massa is a Socialist, he is a member of the Progressive Caucus founded by openly Socialist Senator (at that time Congressman) Bernie Sanders. Most people think of Socialism in terms of Scientific (Marxism) but there was what was called Utopian Socialism. This was based on co-operatives. Which a Union really is. Why do you think Progressives want executive compensation laws, that shareholders would vote on executive compensation. I mean think about other absurd unions like the actors union or writers union. Now obviously the crisis was created by government, remember it was Freddie Mac and Fannie Mae who packaged together these junk Mortgage backed Securities which the derivatives came from. The key is to get more control over every sector of the economy. That whats the Progressives want, to give it to the "people". Remember not everyone who works in the Investment and Banking industry commonly referred to as Wall St are millionaire investors. There are plenty of middle class jobs and then of course the lower level jobs as well.