OF THE
TIMES
"We have about 50% of the world's wealth but only 6.3% of its population. This disparity is particularly great as between ourselves and the peoples of Asia. In this situation, we cannot fail to be the object of envy and resentment. Our real task in the coming period is to devise a pattern of relationships which will permit us to maintain this position of disparity without positive detriment to our national security. To do so, we will have to dispense with all sentimentality and day-dreaming; and our attention will have to be concentrated everywhere on our immediate national objectives. We need not deceive ourselves that we can afford today the luxury of altruism and world-benefaction."
~ US State Department, 1948
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Comment: Wells Fargo has had its hands in a lot of cookie jars recently. Thing of it is, these stories are, relatively speaking, small potatoes. And what these, and larger banks, are just quite often in the business of doing. See this article about how the Fed - the US government's privately owned regulator - "shifted wealth" several orders of magnitude greater than what we're reading here about Wells Fargo. The recent fines against Wells Fargo are nothing but a dog and pony show designed to give the public the impression that the government cares about banking oversight.