You all know Bernie wants to make tuition at state colleges free and says he'll pay for it by [View all]
imposing a tax on Wall Street speculators.
Here's what that tax will ALSO do:
I'm going to tell you a story about the 'stock-gate' scandal. Haven't heard of it? What a surprise! That's because the media in the USA is owned by 6, count them, 6 large corporations. So, I'm telling you:
The source is a happy little book called 'Web of Debt' by Ellen Brown.
This was first exposed in a 2004 Investors Business Daily article. Basically 'market makers' which are Wall Street investment bankers, are doing something illegal.
Oh, my goodness! Who would have thought that?
What they are doing is practicing an illegal practice called the 'naked short sell.' Basically, this is "a coordinated effort by hedge funds, broker deals and market makers to strip small and medium-sized public companies of their value.
You know, the ones YOU'VE invested in your 401K...
Between 1998 and 2004, this 'naked short selling' practice resulted in over 7,000 public companies being 'shorted out of existence.' Oh-oh. This resulted in a bunch of layoffs, too.
Basically, these Wall Streeters have a huge interest in doing this because they make a fee for every 'trade.'
The damage? As much as $1 to $3 trillion has been lost (this is YOUR 401K we're talking about here), and more than 1,200 hedge fund and offshore accounts have been involved in the scandal.
So, basically, our choice here is to:
A) allow the Wall Street greedheads to continue to rip us off, OR
B) put a tax on these transactions and use that money to pay for college tuition for our children and grandchildren!
So which would YOU rather do?
Golly, let me think...