Wall St.'s Next Profit Scheme -- Buying Up Every Piece of Your Home Town

Across America, schools, roads, and water systems are for sale to the highest Wall Street bidder.

Cities are defaulting from California to Alabama. They cannot reverse course and restore taxes on property owners without causing more mortgage defaults and abandonments. Something has to give – so cities are scaling back public spending, downsizing their school systems and police forces, and selling off their assets to pay bondholders.

This has become the main cause of America’s rising unemployment, helping drive down consumer demand in a ... Full Story »

Posted by Dwight Rousu
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Subjects: Politics, Business
Member Tags: privatization
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Posted by: Posted by Dwight Rousu - Oct 8, 2012 - 11:24 PM PDT
Reviewed by: Dwight Rousu (review)
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Edited by: Dwight Rousu - Oct 8, 2012 - 11:29 PM PDT

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Dwight Rousu
4.9
by Dwight Rousu - Oct. 8, 2012

The ground is being prepared for a neoliberal “cure”: cutting back pensions and health care, defaulting on pension promises to labor, and selling off the public sector, ... More »

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