How the Goldman Vampire Squid Just Captured Europe - by Ellen Brown
The Goldman Sachs coup that failed in America has nearly succeeded
in Europe - a permanent, irrevocable, unchallengeable bailout for the
banks underwritten by the taxpayers.
In September 2008, Henry Paulson, former CEO of Goldman Sachs, managed
to extort a $700 billion bank bailout from Congress. But to pull it off,
he had to fall on his knees and threaten the collapse of the entire
global financial system and the imposition of martial law; and the
bailout was a one-time affair. Paulson's plea for a permanent bailout fund - the Troubled Asset Relief Program or TARP - was opposed by Congress and ultimately rejected.
By December 2011, European Central Bank President Mario Draghi, former
vice president of Goldman Sachs Europe, was able to approve a 500 billion euro bailout
for European banks without asking anyone's permission. And in January
2012, a permanent rescue funding program called the European Stability
Mechanism (ESM) was passed
in the dead of night with barely even a mention in the press. The ESM
imposes an open-ended debt on EU member governments, putting taxpayers
on the hook for whatever the ESM's eurocrat overseers demand.
The bankers' coup has triumphed in Europe seemingly without a fight. The
ESM is cheered by euro zone governments, their creditors and "the
market" alike, because it means investors will keep buying sovereign
debt. All is sacrificed to the demands of the creditors, because where
else can the money be had to float the crippling debts of the euro zone