Over $23.7 trillion was dedicated as a backstop to the great financial crisis of 2008-2010 – in what will go down as the biggest transfer of wealth from main street to Wall Street in the history of America.
The big government allocation of resources inevitably favors the politically connected class and one of the most tightly ‘connected’ classes happens to be Wall Street’s financial sector — you know, the major banks and insurers whose greed-driven stupidity and keen disregard for risk management left them with cavernous capital holes when the default wave ripped through the ‘cesspool quality’ structured finance credit instruments warehoused on their balance sheets… and main street America had to bail them out through various Fed credit facilities — to the tune of trillions of dollars.
Meanwhile, real average hourly wages, across the board, have been in a steady decline over the past seven years…
Chart – courtesy of Economic Policy Institute
It is time now to grant U.S. citizens the same access to liquidity that was provided to the ‘politically connected’ classes. It is time to restore eliminate debt and restore financial health at the family level – in the same way that trillions of dollars were allocated to eliminate debt, sweep toxic assets off big bank balance sheets, and restore “financial health” to the Wall Street’s financial sector.
It is time to employ a Citizens Credit Facility – for U.S. citizens:
The Leviticus 25 Plan 2015 – $70,000 per U.S. citizen The Leviticus 25 Plan 2015 (1223)