“UnAmerican Activities; The Banks Who Stole Christmas”

No Toto, we’re not in Whoville anymore!

Together these classic films, “The Wizard of Oz” and “The Grinch Who Stole Christmas,” one in magnificent color, written by L. Frank Baum, and the other an incredible story by the irrecusable Dr. Seuss, definitively describe what banks have done to the economy, the middle-class, the country, and—oh yes, Christmas.

The “UnAmerican Activities” of American banks have stolen Christmas, and Christmas cheer, from millions of Americans—and even more millions of children. They are, at the same time, the Wizard of Oz and the Grinch.

As the Wizard of Oz banks fooled unsuspecting and naive consumers into believing the American Dream was tied up in a 6.9% interest rate. Banks enticed everyone down the Yellow Brick Road, in search of the Emerald City.

But the road, like in the movie, wasn’t paved with gold. And there is no Emerald City to behold.

Bankers deceived hard-working Americans, convincing them the way to prosperity was cheap credit and burdensome debt. They tricked customers into massive obligation through subprime mortgages and credit cards with limits well beyond the cardholder’s means. And then the curtain was pulled back and revealed their deception.

Bad gambles, made with the play money they issued to all the ungrateful fools, began to unravel. The economy began to slide, and with it the banks’ profits disappeared.

With the falling economy their affable clients began to default and the bankers could see their ginormous bonuses fading. Years of fake prosperity were gone. The Wizard had been exposed, and banks found themselves in a dubious pinch.

That’s when they turned, into the petulant Grinch.

They were in a quandary, in quite a stew. Not sure exactly, what plan they’d pursue. Not entirely… sure what to do.

They could steal Christmas… from the ungrateful Whos, Whos who’d discovered their terrible ruse. Whos they had given, so much credit before. They could not allow a single Who, not a Who to have more.

You see, bankers have a problem, just like the Grinch. They have hearts of stone, but that’s not all; hearts that are clearly two sizes too small.

That is, if they have…any hearts at all.

Their “UnAmerican Activities” became evident with the economic meltdown near the end of 2008; precipitated by the Gramm/Leach/Bliley Bill of 1999.

The nation was hurting, caught in a downward spiral of economic turmoil, a financial system on the verge of collapse. The government rushed to help the big banks, essentially with taxpayer money, to prevent their ultimate failure; save them from the abyss.

The damage to the economy caused Americans to pull back, making Christmas the worst in many years.

Things worsened. Banks that were ‘Too Big to Fail’ were still losing money, and greedy bankers cannot stand losing money! So they set out to devise a new plan. They needed to make money, money galore… as much money, as they had before. Then they could steal, wheelbarrows more. From all their good customers…the ones they adore.

Banks could steal another Christmas, steal it all year; steal Christmas joy and steal Christmas cheer…not waiting till, next Christmas was near.

They could charge usurious rates…for products and grimmets. Wipe out rebates, jack up fees, lower limits. We’ll raise up the interest rate… Oh how they’ll soar. Twenty-four, twenty-eight… thirty or more.

They’d do it with a smile, nice letter from a friend. And if that didn’t work…they’d raise them again.

Citigroup, JP Morgan, B of A, Goldman Sachs…are all a part of these ‘UnAmerican Acts.’

We don’t know now, how this will all end. One thing’s for sure, the banks aren’t our friend. They steal from the poor and give to the rich. They’ve stolen two Christmases…now ain’t that a switch?

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Though I’ve had some fun with this, millions of American families are struggling for a second Christmas, hundreds of thousands for more than a year. This is serious.

The banks have stolen, and continue to steal, the American Dream. It was us, the American taxpayers, who bailed them out without reciprocity. The greed of the big banks and their greedy executives continue to undermine the economy, assisted by a weak Congress, a complicit Federal Reserve, and a slow acting administration.

I will write a more serious, cut to the chase, reprise to this article in the next week. The ‘UnAmerican Activities’ of the banks must be continually exposed if we are going to weather this economic malaise as a society.

In order to get back to Kansas, or California, New York, or even Iowa, it will take more than clicking our heels together.

This time, this problem—it’s ‘Real.’

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