End of Capitalism Is Here-Ellen Brown
Public banking expert and attorney Ellen Brown says, “Your life savings could be wiped out in a derivatives collapse.” Brown explains, “Nobody anticipated what happened in 2008, and that was a $700 billion bailout. Even if the FDIC tapped its Treasury line, that’s only $500 billion. So, certainly things could go wrong. Also, why are they rushing to put these things into place? They’re expecting something.” Brown goes on to point out, “They think they have avoided too-big-to-fail, but what they have actually done is formalize too-big-to-fail. I mean it’s the end of capitalism. There is no such thing as too-big-to-fail in a capitalistic society where you say certain corporations can’t fail. If you have to take the people’s money to prop them up, it’s no longer capitalism.”
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